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Financial System Proposal

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user098123
Posts: 6072 - Karma: 18
http://money.cnn.com/2008/03/31/news/economy/paulson_regulation/index.htm?cnn=yes

Today a proposal for a change to America's financial system was put forth. On the surface, it seems like a good thing. Contrary to what most american's believe, the free-market economical system we have been using is actually hurting our economy. Government regulation to a certain extent will help us become more stable and raise the value of the market. Over the past decade or so, we have gone into a period of deregulation of the market, and our economy has been falling ever since. I think this new regulation could be a good thing as long as they don't get excessive (as it warns at the end of the article).

Discuss
Mar 31 2008 10:42AM
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aprailey
Posts: 234 - Karma: 13

i want a government that controls what i do the least.. i believe the economic system we have now even though is deemed "free enterprise" still controls what we do all too much... would you rather live in a country with a booming economy (we're still going to be in debt so it doesnt really fuckin matter anyways) or a country where the economy isnt exactly booming but your free to do as you please?

Mar 31 2008 11:14AM
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user098123
Posts: 6072 - Karma: 18
That's not entirely what a free market economy is. While free market economies would work theoretically, they have alot of practical issues. Plus, what you said is the EXACT reason why we don't want a free market economy. People will try and scam the market. That is what alot of the regulations are for, not for preventing people from doing things, but making sure business is carried out correctly. Would other countries want to invest in our economy if there is alot of risk and not alot of profit? No. The reason why so many companies invest in our economy is because traditionally it has been very safe and stable, and you still have been able to make good money. Over the past few years though, with so much deregulation people are starting to invest less into our economy, which is just one of the major factors affecting us.
Mar 31 2008 11:17AM
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Barefootin_Fiend
Posts: 7618 - Karma: 4,727
I'm generally not in favor of greater regulation, but unfortunately it can be a necessary evil.  When anyone starts talking about greater regulation I can only think of SOX and the incredible amounts of money it has cost.  I'm glad to see that he recognizes the fact that any sudden and drastics moves could do additional damages to a sensitive market.
Mar 31 2008 11:17AM
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R-Bertsch
Posts: 4719 - Karma: 20
everytime were faced with an economic situation we resort to socialism. i smell another red scare
Mar 31 2008 11:24AM
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user098123
Posts: 6072 - Karma: 18
It's hardly socialism. In the globalized world we are faced with today, you need certain governmental regulations to push your economy forwards. You should read the world is flat by thomas friedman, incredible book on the new era of globalization we are currently in, alot of people don't realize many of the issues were pretty suprising to me.
Mar 31 2008 11:27AM
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skipimp_
Posts: 5700 - Karma: 113
Anything that gives the fed more control is not a good idea.

The fed is pure evil baby.

Evil.
Mar 31 2008 2:55PM
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