Bailout Bill Fails; Dow Plummets 780 Points

[manasecret]

Originally Posted by Professor S

(Quoted from this thread.)

I feel just like one of the people in the crowd of that cartoon. I was given this link to a good explanation of the crisis, or at least what I can only assume is a good explanation. Reading all that economic mumbo jumbo makes my head spin.

I'll give it another whirl because I know I can eventually understand it, but damn the public is in desperate need of someone to very simply explain the causes of this crisis.


One more thing.

Originally Posted by Xantar

Come on now. I don't have very much time to post anywhere.

I feel like I should respond as well, because Prof. S's comment on Xantar could similarly be said about me. I gave up on two threads, the Georgia thread and the the New Orleans thread, because of how much of my time got sucked into those threads. Plus, any time I wasn't actually responding or reading responses, I was still thinking about the thread. I require concentration for my job, and I couldn't concentrate at all when I was in those discussions. While I appreciate Prof. S's time he takes to respond, I can't keep up with it.

[Professor S]

Originally Posted by manasecret

I feel like I should respond as well, because Prof. S's comment on Xantar could similarly be said about me. I gave up on two threads, the Georgia thread and the the New Orleans thread, because of how much of my time got sucked into those threads. Plus, any time I wasn't actually responding or reading responses, I was still thinking about the thread. I require concentration for my job, and I couldn't concentrate at all when I was in those discussions. While I appreciate Prof. S's time he takes to respond, I can't keep up with it.

Mana, you've always taken the time to reply at least once to points and I've always assumed that you stop posting because you have said your piece. My issue was when Xantar posted some questionably sourced material, much of which was guilty of poor research or lies of omission, and then at the end stating that he would not read or respond to anything said. That is not discourse.

Honestly, Xanny, if you don't have the time to discuss your points, don't bother spending so much time writing the opinions in the first place, especially when you cite things that have known contradictory evidence. I don't completely buy your explanation of your "I'll reply to this in paragraphs and ignore your response" posting, I'm sorry to say.

[Fox 6]

Woah this thread is all bonkers.

Which of you think this is a sign to step back and evaluate the system? Is more gevernment involvement needed?

[Professor S]

Originally Posted by Fox 6

Woah this thread is all bonkers.

Which of you think this is a sign to step back and evaluate the system? Is more gevernment involvement needed?

Yes and no.

It depends on the government involvement and type of regulation. This problem was created by both deregulation and over regulation. The split between mortgages and securities should never have been deregulated. The regulation of the Community Reinvestment Act should never have been instated and created billions in bad loans.

The answer is not all or nothing. My opinion overall would be that regulation that separates and protects based on historical evidence is good, while regulation that dictates business in the hopes that a positive impact will result is bad, if that makes sense.