The Secretary of the Treasury is looking at a duplicate of The Great Depression with duplicate causes - unregulated securities sold on high margins. And why were derivatives created? To avoid regulation. It's a shame Conservatives don't read history. "Don't dwell on the past, we are moving forward, into a new era."

"Paulson says stricter regulation not the answer." ("This sort of thing just happens every once in a while, I guess. Couple of times a century. Easy come, easy go. No sense regulating, may as well try regulating the tide. Regulation only inhibits the creation of derivatives, stifles the growth of capital, deprives investment bankers of huge commissions which trickle down into jobs for illegal immigrants. Bad for everyone.")

I'm beginning to think that Conservatives would like the Democrats to have political power and generate more wealth so these guys grandchildren can come along and rip it off. Again. If there aren't any regulations.

Arf