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Why Canada avoided the subprime meltdown | by Illiad | 2009-01-29 12:10:37 |
| Frankly, that's why I discard the whole... |
by firehawk |
2009-01-29 12:28:43 |
"liberal"<------->"conservative"
...thing. It makes no sense, and people are just rooting for thir team at this point.
American business, banking and finance in particular, is out of control, and just handing them money to clean up their mess hasn't fixed anything and won't fix anything.
Hell, the fact that I have to say "banking and finance" together is emblematic of the problem. The so-called "conservatives" in the government deregulated the thing so much that anybody could do anything, in whatever manner they pleased.
A surface "conservative" will cheer the free market.
A true conservative will look at the industry a bit deeper and see that while each industry should be relatively free to work as it will, combining industries are a bad idea.
Adam Smith would NOT have approved of massive vertical integration (if I'm using the correct term) and "one-stop financial everything shops", especially in near-monopoly conditions. |
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