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What Caused the Financial Meltdown?
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<blockquote data-quote="UPS Lifer" data-source="post: 404103" data-attributes="member: 9789"><p>My original reference was that we need to find common ground as a country. I do not like government control. That being said there are times there needs to be controls, regulation and heavy oversight. This is an industry that needs this. If Wall Street and the Main Street investors lose confidence - the market will crash. If the little investor loses confidence in government or their bank.... a frenzy will take place and there will be a run.</p><p></p><p>Monopolistic industry or companies, such as oil, electricity, financial markets, where people rely on it to such an extent that it is almost like a lifeline and in some cases is just that, needs to have controls to stop greed and gouging. All future markets and short sale practices need control over greed mongers who are out there everyday gambling with their investors money. </p><p></p><p>As a country we had to establish the SEC to eliminate the possibility of another Great Depression. Those controls were necessary. The banking, mortgage and financial industry needs the same sort of safe guards to protect little America from corporate greed.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 404103, member: 9789"] My original reference was that we need to find common ground as a country. I do not like government control. That being said there are times there needs to be controls, regulation and heavy oversight. This is an industry that needs this. If Wall Street and the Main Street investors lose confidence - the market will crash. If the little investor loses confidence in government or their bank.... a frenzy will take place and there will be a run. Monopolistic industry or companies, such as oil, electricity, financial markets, where people rely on it to such an extent that it is almost like a lifeline and in some cases is just that, needs to have controls to stop greed and gouging. All future markets and short sale practices need control over greed mongers who are out there everyday gambling with their investors money. As a country we had to establish the SEC to eliminate the possibility of another Great Depression. Those controls were necessary. The banking, mortgage and financial industry needs the same sort of safe guards to protect little America from corporate greed. [/QUOTE]
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What Caused the Financial Meltdown?
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