The two sentences of your point are a remarkable conflation of specific reasons for regulating the financial sector (as I put it: "centrality of finance to the health of every other part of the economy") into the tired old chestnut broadly imputing some mindless obsession with growing the government just for the sake of growing the government.
I can see why you took that tack, since obfuscation supports your claim of historical observation. Regulation of the financial industry has proven its worth decade after decade. There's been a remarkable correlation between Republican deregulation and subsequent disaster in the financial industry. We might properly argue about the effect of regulation industry-by-industry, but the historical experience with financial regulation has been singular and clear: It's necessary to the financial survival of the American economy like no other sector.
Of course it's not impossible that a better answer might lie in another direction. That's a somewhat peurile observation. But of the bipolar directions you'll consider, more or less direct regulation, history shows that the economy benefits from and is protected by strong regulation of the financial sector. Show me a real third way, something besides the tired old rightwing slogans, and we'll talk.
Current Events » in reply to Re: Scratching my head
Re: Re: Scratching my head
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- Why Canada's banking system is holding up better than ours.
- Interesting. Not sure I buy it all, but still... n/t (n/t)
- (moved)
- Re: Why Canada's banking system is holding up better than ours.
- Re: '“pro-lender†environment'
- '“pro-lender†environment'
- Horseapples.