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The cows have long been out of the barn, my friend. Personal Acccountability you say? An interesting concept, but I believe that it is based on the assumption that laissez-faire Capitalism "self-regulates" and that there are not any "distortions" in the marketplace. And as we all know...

Daal, after this weekend I am convinced that there are an awful lot of people here on ET these days that should just be put on IGNORE. Believe it or not, I had a guy named Cutten and another guy named Smilingcynic make the case that Family Trusts/Estates should not be allowed to "escape"...

Not true at all. People ( and those in power such as Alan Greenspan ) simply needed to stop embracing their ideological belief that markets are self-regulating, and that they are not susceptible to failure, or have issues of distortion on incentives. As Roubini says, "There's nothing wrong...

Agreed.

Nouriel Roubini says the same thing. And I think that there is a lot of merit in what he is saying regarding the Banks. Why on Earth would you (Paulson, Bush, etc. ) allow JP Morgan to buy an insolvent WAMU , or a Wells Fargo to buy an insolvent Wachovia, or a Bank of America to buy an...

As head of our central bank, Alan Greenspan was given the responsibility to provide financial stability. Unfortunately for us, Alan embraced an excessive ideological belief that there are no market failures, and no issues of distortions on incentives. He believed that the markets were...

So let me ask you this question, and I'm being serious when I ask it . . . Given your statement above, do you think that the single most powerful man in the United States, Alan Greenspan was "paid" off? I must admit, it is awful hard to believe his incredibly naive testimony before...

You can't be serious. The VIX is an actual quantitative measurement of what is being reflected in the market place. A credit rating is obtained via subjective research and is PAID FOR by the issuer of the security. Can you say conflict of interest? Duh.

Yeah . . . people live in CALIFORNIA because it's ALL about Sunshine! Are you that much of a Fool? You are too funny! :D

And where did you "cut and paste" this article from? It might help your credibility on this website if you were to use your own words, and not someone else. Just a thought.

Again, there was this ideology and assumption from Greenspan ( and others ) that the markets would "self-regulate" and that markets do not distort or ever suffer failures. That, and the Commodity Futures Modernization Act of 2000 is what created Enron, and Enron's ability to "game" the power...

Yet another person that is unable to turn their BRAIN on . . . I swear, the quality of content on ET has really gone down the tubes lately. A lot of the blame rests at the feet of Alan Greenspan - - - who made two very fatal mistakes. 1.) Markets self-regulate 2.) There's no market...

I don't know where you went to school, but you could use a history lesson on why CALIFORNIA has such a difficult time dealing with illegal immigration and having to exclusively foot the bill for it. It's called the Fourteenth Amendment. And Congress does nothing to enforce it. In other...

He's not the only one suffering from AMNESIA. Check out the Republican Party's last Presidential nominee to represent the Party . . . John McCain. http://www.youtube.com/watch?v=0mBi7d6e5KI Just 21 seconds into the video. :D

Agreed. And leave it to these imbeciles to conveniently fail to mention that someone has to DIE in order for an estate to allocate assets into a bypass Trust for the family members. I guess for them, that is what they mean by being "lucky". :( I've put so many people on IGNORE tonight...

I believe that your example and the 5:1 ratios that you are using are far too simplistic for purposes of realistic appraisal. I would suggest that the $500,000 house was not in nearly a nice area ( school districts, lower crime rates, services and amenities, organized recreation, smaller...

True. Places are still "high" in the nicer areas. But you can get some great deals in the longer commute outlying areas that have become the last to get built, and the first to go into foreclosure . . . 3800 square feet of basically "new" construction that peaked at over $800,000 now going...

Yeah, they're history but their $65 TRILLION in CDS exposure isn't. And so isn't the complete meltdown in the financial markets, or an economy that is seeing the worst three months of unemployment numbers since 1945, or a totally screwed-up TARP-1 at $700 Billion that was put together by yet...

You are a complete idiot. AIG wrote insurance in the form of CDS to the tune of $447 BILLION. They also sold insurance on CDO's, pools of subprime mortgages, pools of Alt-A mortgages, prime mortgage pools and CLO's. Yeah, those were some "bad" investment decisions all right - - - and...

Given your logic, it is "lucky" to watch a family member die in front of you, so that the Government can then subject the Estate of that Family to double-taxation and another 55% in taxes. How idiotically absurd.