Comments on: Bloomberg Warns Of "Next Wave" Crisis

More Financial Pain Possible If Foreign Entities Stop Buying U.S. Debt, Says NYC Mayor

[drinuk]

It''s no good blaming Russia for our ill''s, or indeed condemming them for wanting to explore new sources of energy. The only reason we are no longer on good terms is because Putin has put the skids under the very same corporate crooks and speculators who have openly caused OUR financial misery AND they are OUR CROOKS, the very same Greedy B A S T A R D S who have driven this country into meltdown.

[drinuk]

Untold Misery caused by a handful of Speculators, Crooks and Spivs. Not content with Ripping Off the Oil Market, they are now bringing perfectly good companies to their knees across the world. These PIGS are the enemy of society and unless we the people take them out of circulation we will witness more and more misery. Regulation is not the answer Elimination surely is.

[scorpio59er]

The worst is yet to come

http://tinyurl.com/3oezmw

Global credit system suffers cardiac arrest on US crash

http://tinyurl.com/48f84a

[samthetvcat]

PS Although there''s like 5 countries who also have their eye on the prize . . .

[samthetvcat]

Posted by NSKDuke2

You know what we need to watch out for though is that Medvedev today said something about looking to lay claim to the Arctic because their gas is running dry.

How easy would it be for them to actually follow through with that? How immediate a threat is it? Because right now we''re all tied up in Iraq and Afghanistan, and we''re preoccupied with the election . . .

Or are they going to wait until they''ve bought up all our debt and use the threat of them flooding the market with our debt to ruin our economy to keep us from fighting back?

That''s supposed to be their thing - using the global economy as a weapon :(

[sjc_1]

What is all this about total absolute unlimited regulation or none at all? Have you never heard about moderation and optimization? You use the amount and type that is required to produce the desired result. We have lots of evidence of what has worked, this is nothing magic.

[nskduke2]

I wouldn''t worry about who is going to continue to buying our debt.There will always be somebody buying our debt but that doesn''t mean we as country need to increase the debt it means we need to fix the problem.Countries are paying for our foreign products.We as a country need to buy less foreign goods from other countries and need to focus on using the stuff we have to meet our demand.Yes for right now it seems like it is not a big problem but what happens when a foreign country says enough.Micheal Bloomberg maybe on to something and this something that can''t go unignored.It is too bad that he or someone didn''t say this a really long time ago.

[samthetvcat]

No wait, my last answer sucked - I need a do-over :p

I think what I wanted to say was that you seem to be acting on the assumption that there''s no such thing as having too much regulation, the more the better.

I''d analogize that to getting tough on crime because regular garden variety crime and the stuff Wall St. sometimes gets away with isn''t that much of a stretch. Everybody likes the idea of sentence enhancements for repeat offenders and like criminalization of dead-beat dads and stuff. Until the tab for incarcerating everybody started to skyrocket.

When you keep the people in charge of creating money and jobs in the economy on too tight a leash, they might never fail but then they aren''t going to succeed much either. And everybody pays the price.

The assumption going around is that everybody''s bad, but the Wall St. crooks also do some good. Without them a lot of people wouldn''t be able to buy their own homes and they''d always be beholden to their landlords getting rich off their backs via their rent. Without them a lot of people wouldn''t be able to start small businesses and reap profits for themselves and would always be beholden to their employers who are getting rich off their backs.

Shrub underregulated, but there IS a real danger of overregulating too.

[samthetvcat]

PS I mean businesses have alternatives.

[samthetvcat]

---"That presumes you can predict the "bad" before they do something "bad", and further that you can predict that a particular industry will NEVER do anything "bad"---
Posted by ibsteve2u

So how does that advance your argument for regulations which have had the effect of compelling corporations to set up shop anywhere but here?

Your logic seems to be that if we have no corporations then we''ll have none that''ll collapse.

I think you forgot to factor in that we only have the power to regulate our own laws and that we''re only one country in the world. Meaning that countries have alternatives - you just priced yourself out of the market.

[missingamerica]

The goal is regulate with precision to weed out the bad and give freedom to the good, is it not?

Posted by SamTheTVCat at 12:10 AM : Sep 18, 2008

Regulate "with precision"?

That presumes you can predict the "bad" before they do something "bad", and further that you can predict that a particular industry will NEVER do anything "bad".

The "reality" is that Bloomberg is doing just what all the mega-rich business people are doing:

Switching from "Any regulation is too much!" to "I have always said that regulation is a necessity!".

Plainly, it is a calculated move to avoid being tarred with the same brush their peers earn time after time after time.

[stirringitup]

www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

[stirringitup]

For a history of the demise of Glass-Steagall and who is resposible go here - Best government money can buy

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

[samthetvcat]

I don''t find Bloomberg''s statements about regulation inconsistent.

The author of this piece is equating volume of regulation with efficacy.

Something like only 1% of the world''s IPO''s are issued in the States now, even if the company''s domestic. Clearly that''s an overregulation.

All the aggressive investing in mortgate-backed securities by investment houses that are also banks that have led to this credit crisis IF it could have been prevented with a better regulatory framework would tend to point to underregulation.

The goal is regulate with precision to weed out the bad and give freedom to the good, is it not?

[samthetvcat]

---"It''s not clear who''s going to be buying our debt," said Bloomberg. "It may very well be that the next wave is going to come back and bite us."---

Let''s all write in Michael Bloomberg, Rudy Giuliani as VP. That would be my ideal ticket . . .