Mark wrote:
> Hi Geoffrey,
>
>
> My understanding is that the GFC was a result of criminal
> manipulation of so-called government watchdogs in the US.
Wow! Run that by us again ? In a non-regulated (or barely-regulated) market, regulators caused the problem?
So they made all those private sector guys take big bonuses for increased paper cash flow in a loans market where everyone laid off their increasingly-dubious bad debts at an ever-accelerating rate until they all disappeared down the chute ? Must have taken a lot of arm twisting of the Geckos to do that. Has anyone cited these regulators in their defense cases yet ?
Then there's the story of the 3 bears and Goldilocks....
Ok. Seriously, I'd like to hear this version of the story. I've heard hints of it, but didn't quite believe it had a rationale.
You really should explain that one a little more fully.
-Peter M
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