On Thu, 27 Mar 2008 11:21:55 -0400, "
wrote:

Shamelessly stolen from another newsgroup
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From the OPINION section of today's Wall Street Journal


Regulatory Overkill
By ALLAN H. MELTZER
March 27, 2008; Page A14

The claim that deregulation went too far is coming from many sides.
snip most of the article

The financial system cannot survive
if the bankers make the profits and the taxpayers take the losses.

I think the above sentences sum up where we are heading. The same people
who whine about oil company profits will soon notice that the banks are
quite profitable, and the government has relieved them of the risk. At that
time there will be calls for banking to be taken over by the government.
The current call for more regulation is just the first step down that road.

Probably better to keep this stuff secret.
Whose business it anyway if lenders choose to write bad loans?
Doesn't hurt me.
Same with this oil nonsense. Prices haven't hurt me.
Making this stuff public just riles people up.
Oughtta be a law against all this rabble-rousing.

--Vic