Fixing the Problems on Wall Street is Easy: Raise Margin Requirements; Max Keiser, HuffPo

[maxkeiser]

There are many who believe that Greenspan, when he spoke of 'irrational exuberance' back in '96 should have raised margin requirements, Robert Shiller of Yale being one of them. If Greenspan had done so, many argue, much of the damage of the dot-com bubble would have been avoided and therefore much of the damage of the subsequent 'bubble transplant' of '00 when the 'hot money' bolted NASDAQ and juiced real estate prices (but much worse).

Adam Smith is not God and Greenspan-Bernanke are not his appointed representatives on Earth. But millions of home owners are getting crucified for their sins nevertheless. The efficient market theory is bunk. Neo-liberalism doesn't work. Margaret Thatcher's reputation is entirely due to the UK's lucky oil find in the North Sea (now that it's nearly all used up, Britain is re-opening the coal mines Maggie shut). If Reagan were alive today he'd be working at J.P. Morgan along with Tony Blair.

http://www.huffingtonpost.com/max-keiser/fixing-the-problems-on-wa_b_95340.html

[Jim Sagle]

1. And if w's last name were Smith or Jones he'd being working at J. C. Penney.

[Extend a Hand]

3. I think Penny's has higer standards.

[DemReadingDU]

2. morning kick