Do you think a privately run financial sector could be the answer?
Posted in the Clarksville Forum
#1 Nov 12, 2013
Do you think a privately run financial sector could be the answer?Tonight (Saturday night) Fannie Mae reported a $75B loss for 2009 after a $60B loss for 2008 and needs $15B more from taxpayers just for the month of March. The Treasury paid $700B to bail out the banks and now can't get them to lend. All of the regulators missed subprime and none of the credit reporting agencies or auditors picked up the impending collapse. Now government, the lender of last resort, is going hat in hand to the bond market for assistance and printing money when it can't cover the shortfall.
Given the complete failure of government to regulate the financial system, do you believe the answer could be a privately run global financial system that has one single goal - making sure buyers and sellers can trade in a free market with quality information - rather than serving a thousand masters like keeping inflation low, keeping the economy going, regulating everyone, making homes affordable, preventing big companies from failing, etc? Why or why not? Thanks for your thoughts.
#2 Nov 12, 2013
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