108 makes a good argument for more regulation.

Actually, little buzzy, it’s an argument for keeping govt out of the market. No sane broker would ever offer 90% margin, just like no sane lender would lower qualifications for home loans, unless there is pressure from the govt to make things “affordable” by violating good business standards.
Didn’t expect you to understand that, little buzzy.
Economic crisis is always caused by wasteful social spending and social engineering schemes that rig markets to get a predetermined social outcome.
Computers get faster and cheaper due to free market forces, not govt regulations, little buzzy.
There’s no “bubble” in the computer industry, and there is plenty of profit.
The free market is better for everybody.

When you people talk about government “liberals” meddling in the sacred “free” markets, it’s like you’re talking about a parallel universe. There have been no liberals with any policy-making power since the early 60s.

We’ve been dominated completely by conservatism for at least 30 years.
But you keep trying to convince people that, despite winning most of the elections and holding the reins for nearly the entire last 3 decades, these mysterious, invisible, mythical liberals were really the ones in control.

Bill Clinton used the Carter Era Community reinvestment act to pressure banks into loaning money to individuals who weren’t able to pay for the money. The depression era Fannie Mae and Freddie Mac, being run by Clintonites facilitated more and more loans for houses that there was no true market for.

Democrats in the decade blocked needed reforms of Fannie and Freddie.

Dorgan’s a joke. He writes a book lamenting loss of jobs which was certainly made much worse by his support of extreme enviromentalism, overly reach labor laws, his high business taxes and other regulations.

Now he is upset over the latest recession which was triggered by the job losses as above AND his support of crappy mortgage regulations.

Tony Bender cranked out another one for Byron, eh?

TW: The Crash of ’29 was fueled by a very similar social engineering tactic as the one which produced the home loan crash: in order to make stocks “affordable” to all Americans, brokers were permitted to sell stock at 90% margin, which meant that a person could buy a stock at only 10% of its face value. That was OK when stocks were going up, but when a stock went down by 10% or more, the owner got a “margin call” from his or her broker, demanding more money to cover the shortfall. This led to widespread panic, bank runs and bankruptcies, just like the effort to create “affordable housing” caused last year’s crash, with a little help from Chuck Shumer to set it off with a run on one big bank. In ’29, a small dip in the market triggered a landslide. The 90% margin had created a huge bubble, since a false demand signal was generated, just like the lowered loan requirements for “affordable housing” created a false demand signal in the mid-Nineties.
Bad monetary policy only made things worse, but was not the fundamental cause.

At least Byron got one thing right when he said….his prediction in 1999 and on TARP does mean he is clairvoyant or smart…

Yes, Byron, we understand stand you are not smart.

the modern economic recession was caused by the government making credit far too easy to obtain for people who had no business obtain

looks like you should write a book… i just wish i would have taped all the discussions my friends and i had before any of this happened…. it seems we are smarter than many people. actually, id like to think most people saw this coming before all the talking heads did.