On Thu, 30 Jul 2009 20:29:50 GMT, Richard the Dreaded Libertarian
wrote:

The underlying causal factors appear to be financial/corporate
deregulation, international free trade, and open borders [for
both people and products/services].

Oh, gawd, the same ol' socialist litany - blame "deregulation".
=======
There are several different kinds of regulations. Some impede
the operation of the free market, most don't do anything except
provide governmental employment, but a few insure the continued
existence of a free market by prohibiting price fixing, market
manipulation, interstate sale of adulterated products and several
more.

The continued existence of financial and other organizations that
are "too big to fail," is yet another example of a needed
regulation to protect the free market not being enacted or
enforced.

The repeal of Glass-Steagall, the enactment 2000 Commodity
Futures Trading Modernization Act [eliminating oversight of all
sorts of derivatives] and now the failure to regulate [ban]
"flash trading" otherwise known as "front running" in the
securities markets, are all examples of regulatory failure to
protect the free market.

It should be of great concern to all
conservative/populist/liberitarian voters that the *ONLY* voice
being raised against "flash" or "high frequency" securities
trading is Senator Schumer of N.Y., as liberal a politician as we
have in the U.S., and not a group [or even a single one] of the
"conservative" Republican defenders/appologists for the "Free
Market." Be reminded when individuals do this, it is called
"front running" and is illegal. Several traders have paid big
fines and/or are doing time for exactly this activity.
http://www.reuters.com/article/ousiv...56R5OA20090728
http://www.bloomberg.com/apps/news?p...d=aZwoslIGa5JQ

Another example of the need for regulation is the disclosure that
several of the largest banks, just bailed out by the U.S.
taxpayer because they were "too big to fail," have awarded more
in executive bonuses that their total earnings.
http://www.bloomberg.com/apps/news?p...d=aHURVoSUqpho

Its the "Free Market," not the "Free To Do Anything You Want
Market."


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).