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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
byAnonymous Coward writes:
It serves no purpose.
byinterkin3tic ( 1469267 ) writes:
How about we emphasize that it hurts productive industries and threatens the stability of the economy, rather than just say it serves no purpose. We don't want to discourage it simply because it doesn't help anyone but a few people, we want to discourage it because it HARMS the rest of us.
byroman_mir ( 125474 ) writes:
How about you don't go around banning anything and instead you deregulate the industry enough for people to start their own competing exchanges, which may have different rules, that would allow or not allow HFTs? The retail investors are pushed out of the stock market by HFTs.
But if you REALLY want to solve the actual ROOT problem rather than attacking the causes, how about banning government from printing and handing out money to banks, banning federal reserve from monetising Treasury debt? Banning the Fe
byAnonymous Coward writes:
hm yes lets ignore the lesson of the last 13 years - less regulations ahoy!
byTsuruchiBrian ( 2731979 ) writes:
The problem isn't more regulations vs. less regulations. The problem is coherent system vs. incoherent system. You can have less regulation, but then you can't have bailouts. You can have bailouts but then you need more regulation. The problem of the recent financial collapse was that the system wasn't coherent. There was less regulation and bailouts, That's a recipe for disaster. The authoritarians blame the lack of regulations and the libertarians blame the bailouts. Neither is right or wrong. Th
byroman_mir ( 125474 ) writes:
There was no less regulations. The only one single regulation that was repealed that everybody is referencing is the part of the Glass Steagall that was repealed there is nothing else, which was the counter balance to the rest of FDIC, which is the moral hazard. This moral hazard is provided to the bank lenders (depositors) and it's a bailout to the banks, it makes the depositors complacent with what banks do with their money and it gives banks the green light not to have to compete for the lenders (deposit
bytehcyder ( 746570 ) writes:
How about the Patriot Act (the most unpatriotic piece of legislation prior to Obama's NDAA), it turns banks and other financial institutions into FBI and IRS agents.
Good. If you are going to have laws and taxes, you should improve the ways of catching those who break or do not pay them.
I know your answer would be not to have the laws and taxes in the first place, but that is because you are an extreme libertarian with no concept of history, morality or real-life economics.
You want to revert to the Nineteenth Century world of a few ultra rich capitalists paying no tax and being effectively above the law, with the vast majority forced to live on starvation wages, and powerless to oppose their employers. You might say, and even believe, that what you will get is a country full of happy, successful individually free-trading businessmen, but you won't. You'll just have even more powerful corporations with no check on their power.
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