Comments on: Wall Street Circles the Drain http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html The Law, the Universe, and Everything Mon, 22 Mar 2010 00:14:50 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: anon http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html/comment-page-1#comment-47277 anon Tue, 16 Sep 2008 15:53:30 +0000 http://www.solove.org/archives/2008/09/wall-street-circles-the-drain.html#comment-47277 "Markets always work", huh? It seems a little late for dogmatic adherence to a philosophy that seems so obviously flawed. Did the markets "solve" the great depression? Do markets work when government accepts business risk but business keeps business profit? Try to get any medical care recently? Seems to me that the Reagan revolution is on its death bed. 1980-2008 “Markets always work”, huh?

It seems a little late for dogmatic adherence to a philosophy that seems so obviously flawed. Did the markets “solve” the great depression? Do markets work when government accepts business risk but business keeps business profit? Try to get any medical care recently?

Seems to me that the Reagan revolution is on its death bed. 1980-2008

]]> By: david hoffman http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html/comment-page-1#comment-47276 david hoffman Mon, 15 Sep 2008 18:26:12 +0000 http://www.solove.org/archives/2008/09/wall-street-circles-the-drain.html#comment-47276 The New Deal phrase came from Gordon, and I am pretty sure he meant (and I certainly meant) the regulatory response. In both cases, we've got a crisis that seems to expose some pretty systemic weaknesses in our system of financial regulation, leading to cascades of failure. The New Deal phrase came from Gordon, and I am pretty sure he meant (and I certainly meant) the regulatory response. In both cases, we’ve got a crisis that seems to expose some pretty systemic weaknesses in our system of financial regulation, leading to cascades of failure.

]]> By: Markets Always Work http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html/comment-page-1#comment-47275 Markets Always Work Mon, 15 Sep 2008 15:49:37 +0000 http://www.solove.org/archives/2008/09/wall-street-circles-the-drain.html#comment-47275 No new New Deal...the markets will solve this-- they always have in the past. Government intervention is always a bad idea. Mellon said it best: liquidate, liquidate, liquidate. No new New Deal…the markets will solve this– they always have in the past. Government intervention is always a bad idea. Mellon said it best: liquidate, liquidate, liquidate.

]]> By: A.J. Sutter http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html/comment-page-1#comment-47274 A.J. Sutter Mon, 15 Sep 2008 12:08:48 +0000 http://www.solove.org/archives/2008/09/wall-street-circles-the-drain.html#comment-47274 When you refer to "the New Deal" as the more apt comparison, do you mean FDR's programs, or the Depression itself? If you mean FDR's programs, could you please explain what they have in common with Enron fraud and the Lehman situation, for example? As for Allan Greenspan, did the ABC interviewer happen to mention that the subprime industry grew up during AG's tenure? (Here in Japan, we saw only AG's jaw-dropping sound bite, carried on some local and cable news shows.) When you refer to “the New Deal” as the more apt comparison, do you mean FDR’s programs, or the Depression itself? If you mean FDR’s programs, could you please explain what they have in common with Enron fraud and the Lehman situation, for example?

As for Allan Greenspan, did the ABC interviewer happen to mention that the subprime industry grew up during AG’s tenure? (Here in Japan, we saw only AG’s jaw-dropping sound bite, carried on some local and cable news shows.)

]]> By: Bruce Boyden http://www.concurringopinions.com/archives/2008/09/wall_street_cir.html/comment-page-1#comment-47273 Bruce Boyden Mon, 15 Sep 2008 08:09:36 +0000 http://www.solove.org/archives/2008/09/wall-street-circles-the-drain.html#comment-47273 From the Times article: "It was, by all accounts, a day unlike anything Wall Street had ever seen." Hmm. Including October 29, 1929? From the Times article: “It was, by all accounts, a day unlike anything Wall Street had ever seen.”

Hmm. Including October 29, 1929?

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