Here are three versions of reality. Lets have a poll for Piggs to decide.
Version A:
Regulation is only for commies.
Its very obvious that democrats in CA,FL and NY passed state regulations that caused Countrywide, Indymac, Bear Stearns to fail. The free market regulators at federal exec level have been pro growth and have not interfered at all with these companies goal to help pay their employees and improve the US economy. Get rid of the FDIC audits, its just so quaint like the Constitution, it just hinders their growth to help rebuild America.
Dems are just bitter jealous people when they complain about CEOs getting paid 100 times avg employee salary while half the employees are fired and the stock drops 50%. Don’t you think the Countrywide and BS CEO’s deserve at least a $100M bonus for convincing the Feds to bail them out? Trust me, that 100M would be paid in consulting fees, etc anyway.
Without funding for new stadiums, teams have moved out and caused devastation for the cities. Witness LA, there is in a recession because the RAMS and Raiders left. Dems in Riverside and SB counties refused to build sports stadiums to lure in massive revenues and you have to wonder why the counties are in a massive recession. Why would anyone want to visit or live there without the sport stadiums and something to cheer about.
Version B:
More Regulation needed
Privatize all the profits, let taxpayers subsidize the Freddie Mac CEO’s $20M pay last year, let the cities hand out free money to build stadium to subsidize billionaire athletes while parks and libraries close. Why is there not a 2 year waiting list to buy condos in downtown SD?
Bear Stearns, Indymac, Countrywide profits were not regulated, but now their losses are shared. By law, federal execs cant make more than Vice President, about 220K. FDIC execs running Indymac are paid 200K(?), while the former CEO was paid 8M after voluntary 50% pay cut(honest CEO). If you want to have federal subsidies, you better play by our rules, that is don’t take outrageous risk and dont pay CEOs 100M.
Version C:
Ron Paul
The MLS is a monopoly that has been closed to outside groups after massive lobbying (in english read BRIBES) by realtor groups. Some states have been banned non-full service real estate agents. Felony for broker/agents to rebate commissions.
Fannie, Freddie are nothing but an extortion racket. Honest living. Lets let the readers ponder that Freddie Mac CEO’s $20M pay last year, subsidized by taxpayers.
Close FDIC, Fannie, Freddie, etc. Get back to gold standard. Consumers can rely on smart/honest people at Moodys and S&P (or Weiss ratings) to help them avoid troubled firms.
