When All Else Fails Blame "Free Markets"

[Lucrum]

RIGHT! Laws already existed, brain champ. Put all the laws in place you want, but if the regulators don't FOLLOW them, there's really no point to having a law!

Not to change the subject but this reminds me of gun laws. We have 22,000 nationwide. Many go unenforced many others largely unenforceable to begin with.
Yet looney leftists are screaming for MORE gun laws. When we mostly need to just enforce what we have. Better yet, streamline the laws to make it more practical to enforce remaining laws. Same could be said of course for the tax code and on and on...


Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws.
Plato

Nothing is more destructive of respect for the government and the law of the land than passing laws which cannot be enforced.
Albert Einstein

The more laws, the less justice.
Marcus Tullius Cicero

 

[CaptainObvious]

Again, reading comprehension for the win!

What happened in 2008 was because of tampering in free markets, not as a result of them (they did not exist). If the laws were in place and enforced for fraud, we'd never have had that issue in the first place.

You are aware that tampering in free markets means that the markets are not really free. If the laws in placed were enforced...famous last words. Fact is that they are not enforced in the markets, or any place else for that matter. The entire system has been corrupted and therefore we do not have free markets in the truest sense of the word. Nice concept though when it works.

 

[Tsing Tao]

You are aware that tampering in free markets means that the markets are not really free. If the laws in placed were enforced...famous last words. Fact is that they are not enforced in the markets, or any place else for that matter. The entire system has been corrupted and therefore we do not have free markets in the truest sense of the word. Nice concept though when it works.

The point of the article - which I agree with incidentally - is that "Free Markets" doesn't mean you have absolutely no law and it's the wild west like most who argue against it pretend. Laws to prevent fraud (regulations) should be in effect, but must be enforced as well. That doesn't make markets less free, it protects everyone's ability to fairly participate (freely).

We have government influence, manipulation, and favoritism - coupled with laws that aren't enforced and inept regulatory agencies that simply suck dollars. That's not free in any sense of the word.

 

[Ricter]

You are aware that tampering in free markets means that the markets are not really free. If the laws in placed were enforced...famous last words. Fact is that they are not enforced in the markets, or any place else for that matter. The entire system has been corrupted and therefore we do not have free markets in the truest sense of the word. Nice concept though when it works.

Roughly... "Government is a necessary evil. Some focus on the necessary part, others focus on the evil part."

 

[dbphoenix]

Nothing like trying to defend a statement that free markets are to blame by producing a report placing the blame on the regulators.

lmao

The crisis could have been avoided if the regulations had been followed. However, the regulators were not rigorous enough. Therefore, what we wound up with was a de facto lack of regulations, i.e., a "free market".

Is this difficult for you?

 

[Tsing Tao]

You have fallen victim to the myth of American "free" markets.

No wonder you are delusional.

Nice to see you back, OG.

 

[Martinghoul]

Free markets are a fantasy. We humans aren't developed enough for free mkts yet, so we have to make do with "as free as it gets". Still, historically we've been moving in the right direction.

 

[Tsing Tao]

Still, historically we've been moving in the right direction.

Yes, it's certainly been getting better with all this central bank intervention!

 

[Ricter]

Great Depression food lines

 

[ogarbitrage]

The crisis could have been avoided if the regulations had been followed. However, the regulators were not rigorous enough. Therefore, what we wound up with was a de facto lack of regulations, i.e., a "free market".

Is this difficult for you?

Are you that incapable of being objective? Banks were legally coerced into subprime loans under Fair Housing and when the market goes bust, its their own fault. A free market would have never put that capital at risk in the first place.

But please, tell me again how "free" the markets were as the banks navigated thousands of regulations and directives.

Nice to see you back, OG.

Hard for me to stomach this forum sometimes.