DesideriScuri
Posts: 12225
Joined: 1/18/2012 Status: offline
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quote:
ORIGINAL: mnottertail quote:
Conservatism relies on Capitalism, which is looked on as "Free Market" principles. Then you are fucked wholly and without let or hindrance, since there is no free market in the entire universe. You are correct that there does not exist a 100% completely free market. But, that's just fine. quote:
quote:
Did you know that the whole S & L crisis was caused, in no small part, by regulations? Well, you have to sort of learn the language if you are going to speak english to many here, there is a difference between deregulation and regulation, and the deregulation that Reagan and the neo-cons loosed allowed exactly what happened with banks when they deregulated them, the speculative investing side could finance its dogshit thru the depositors side of the bank. And, yeah.....we know that, it was in the news then, and it was in the news now. But fuck the facts, lets get a photo id, cuz we need it. Yep, you have *all* the facts. Well, all the facts you require to keep in the bliss. Why did the Fed's de-regulate S & L's? The S & L's were about to go under because of regulations that capped the interest rates they could offer to depositors. Banks did not have this problem and could offer rates as high as they wanted. So, the Fed's de-regulate S & L's, allowing them to offer competitive rates, also increased the types of loans they could offer, and relaxed the "on hand" requirements closer to what was required of banks. S & L's started to grow again. Their business was booming. There was hanky-panky going on at some S & L's and the Fed's came in and forced the old regulations back onto them. Immediate fire sale of holdings that were no longer allowed. S & L's crashed because the mortgage industry was their money-making arm and they were stuck with the high interest rates offered to savers with no way to earn that money. But, yeah, let's just say it's all about DE-regulation.
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What I support: - A Conservative interpretation of the US Constitution
- Personal Responsibility
- Help for the truly needy
- Limited Government
- Consumption Tax (non-profit charities and food exempt)
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