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On CNBC an elderly gentleman just put the blame right square where it belonged...

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WCGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 07:28 AM
Original message
On CNBC an elderly gentleman just put the blame right square where it belonged...
In the deregulated economy.

The other gentleman stated that the Laize Faire attitude so prevailed the administation that they had no plans. Everything they are doing now is Ad Hoc.

Time for the adults...
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ej510 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 07:30 AM
Response to Original message
1. We have to be more responsible in the future.
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TheCowsCameHome Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 07:34 AM
Response to Original message
2. People can't always be trusted to do the right thing.
Why do we have police? Because some people just can't do what's right.

Same principle here - there are always those that take advantage of others.
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WCGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 08:03 AM
Response to Reply #2
3. This meltdown is clearly the market flushing out the bad...
This is the free market unleashed...
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trof Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 08:07 AM
Response to Original message
4. John Gutfreund, I think. CEO of Salomon Bors. in the 80s & 90s.
Guy must be close to 100 years old now.
He said a Democratic administration would tend to "over-regulate".
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NewJeffCT Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 08:09 AM
Response to Reply #4
5. I assume he meant that in a good way?
a little regulation these past 8 years could have gone a long way... heck, just following the laws on the books could have done it.
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WCGreen Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 08:40 AM
Response to Reply #5
7. That's the gist that I got...
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Max_powers94 Donating Member (715 posts) Send PM | Profile | Ignore Fri Oct-10-08 08:10 AM
Response to Reply #4
6. We need to over-regulate for a few years
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WallStreetNobody Donating Member (389 posts) Send PM | Profile | Ignore Fri Oct-10-08 08:46 AM
Response to Original message
8. Trust me, most Wall Streeters want a Democrat to fix this
I work on Wall Street, for a large hedge fund. I can tell you that even the Republicans I know are now saying things like "I want Obama to win, I don't care if he raises my taxes I just want this economy fixed!". CNBC has a lot of stooges on it and has always had a conservative bias, and keep in mind they are talking heads, not investors. Their favorite guest is Warren Buffett and when he's on they treat him like a god, and he is a huge Obama supporter. Same with most of the hedge fund managers they have as guests. You'll find some wingnut guests but for the most part the wingnuts are the pundits themselves. I'd say over 90% of my colleagues firmly believe that only Obama can fix this economy, McCain would destroy it further. These are all high-income earners who are not getting tax cuts under Obama but would under McCain, if things were going well a lot of them would want McCain simply for that reason. But now its all about fixing the economy, and no one thinks McCain can do that. Even under an Obama presidency we all have to be aware that this mess will take at least 2 years to get through.
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Born_A_Truman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-10-08 08:47 AM
Response to Original message
9. And we see what the first "CEO" president has done
none of his so-called businesses were a success, and he's done the same thing to our country.

So much for executive experience.
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