Opinion of the Glass-Steagall Act (user search)
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  Opinion of the Glass-Steagall Act (search mode)
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Author Topic: Opinion of the Glass-Steagall Act  (Read 1706 times)
🐒Gods of Prosperity🔱🐲💸
shua
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Posts: 25,752
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E: 1.29, S: -0.70

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« on: June 10, 2012, 11:24:31 PM »

It's easy to say FL in hindsight, but we shouldn't pretend it was obviously a bad idea to repeal it.  There were real economic growth arguments there - it's just the downside was greater than most expected.
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🐒Gods of Prosperity🔱🐲💸
shua
Atlas Star
*****
Posts: 25,752
Nepal


Political Matrix
E: 1.29, S: -0.70

WWW
« Reply #1 on: June 11, 2012, 12:36:37 AM »

It's easy to say FL in hindsight, but we shouldn't pretend it was obviously a bad idea to repeal it.  There were real economic growth arguments there - it's just the downside was greater than most expected.

Anyone who paid attention to what Senator Dorgan said didn't need hindsight.
Must be nice to be sure you know which prediction to listen to.
I guess all those people who voted for it did so without any thought for its possible effects?
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🐒Gods of Prosperity🔱🐲💸
shua
Atlas Star
*****
Posts: 25,752
Nepal


Political Matrix
E: 1.29, S: -0.70

WWW
« Reply #2 on: June 11, 2012, 08:55:53 PM »

It's easy to say FL in hindsight, but we shouldn't pretend it was obviously a bad idea to repeal it.  There were real economic growth arguments there - it's just the downside was greater than most expected.

Anyone who paid attention to what Senator Dorgan said didn't need hindsight.

Must be nice to be sure you know which prediction to listen to.
I guess all those people who voted for it did so without any thought for its possible effects?

Probably, yeah.

Yeah, I don't know why that's such a crazy notion. The amount of stuff that passes without people even thinking about it is higher than Shua seems to think.
Oh, I'm sure they didn't think about it enough, and they largely ignored all sorts of intelligent warnings. But still, they must have had some elementary reason for supporting it, some reasons that they brought up in the debates, and a lot of people were convinced. And so if you get rid of it, it's worth thinking what issue it was meant to address, and consider if some other solution is necessary or if there wasn't a real problem in the first place.
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