Comments on: More Bank Closures http://themoderatevoice.com/32966/more-bank-closures/ An Internet hub with domestic and international news, analysis, original reporting, and popular features from the left, center, indies, centrists, moderates, and right Wed, 15 Feb 2012 03:50:13 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Don Quijote http://themoderatevoice.com/32966/more-bank-closures/comment-page-1/#comment-185566 Don Quijote Sun, 24 May 2009 00:51:54 +0000 http://themoderatevoice.com/?p=32966#comment-185566 <blockquote>Deregulation of “archaic” rules from the 1930s was supposed to bring innovation and make everyone lots of money; </blockquote><br><br>And it did, it's just they just forgot to specify who "everyone" was, "everyone" was "everyone with a net worth over 10 million". <br>See it's simple, you just have to learn to read between the lines...

Deregulation of “archaic” rules from the 1930s was supposed to bring innovation and make everyone lots of money;

And it did, it's just they just forgot to specify who “everyone” was, “everyone” was “everyone with a net worth over 10 million”.
See it's simple, you just have to learn to read between the lines…

]]> By: GreenDreams http://themoderatevoice.com/32966/more-bank-closures/comment-page-1/#comment-185552 GreenDreams Sat, 23 May 2009 20:48:27 +0000 http://themoderatevoice.com/?p=32966#comment-185552 Good post. Deregulation simply didn't work for us. The Milton Friedman/Reaganomics/Thatcherism mantra of "privatize, deregulate, cut government spending" has failed, not just us, but everywhere it has been implemented: Chile, Argentina, Uruguay, Bolivia, Indonesia, Poland, Russia, even China. The results are always the same: a massive shift of public wealth to private hands, private debt to public hands (bailouts are a good example) and an increasing wealth gap. <br><br>This is all very well documented, but the adherents to "free market economics" believe in it with a religious devotion. It's impossible to shake their belief, even when it's failing, as it is now in America. They will always argue, as Gramm does, that what we need is MORE deregulation.<br><br>The truth is that deregulated businesses do not behave responsibly. Look at every business that is failing and you see a consistent theme of irresponsible behavior, spurred on by the belief that once deregulated, businesses will 'run free' while in truth, they run wild and fail. Good post. Deregulation simply didn't work for us. The Milton Friedman/Reaganomics/Thatcherism mantra of “privatize, deregulate, cut government spending” has failed, not just us, but everywhere it has been implemented: Chile, Argentina, Uruguay, Bolivia, Indonesia, Poland, Russia, even China. The results are always the same: a massive shift of public wealth to private hands, private debt to public hands (bailouts are a good example) and an increasing wealth gap.

This is all very well documented, but the adherents to “free market economics” believe in it with a religious devotion. It's impossible to shake their belief, even when it's failing, as it is now in America. They will always argue, as Gramm does, that what we need is MORE deregulation.

The truth is that deregulated businesses do not behave responsibly. Look at every business that is failing and you see a consistent theme of irresponsible behavior, spurred on by the belief that once deregulated, businesses will 'run free' while in truth, they run wild and fail.

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