Comment Irration exuberance ie markets fatal flaw... (Score 1) 336
Yeah the bankers choosing the wrong algorithms to calculate risk on derivatives, a speculative real estate bubble, and no background check loans for houses had nothing to do with the crash right Curunir wolf? Note these actions were all chosen freely by market actors with no government coercion involved whatsoever. Even the Libertarians big hero Alan Greenspan admitted there was a "flaw," after the crash, look it up if you don't believe me. The problem with conservative Libertarians is you guys are all about responsibility until *you guys* fuck up, and then guess what, it's the "gubmints" fault. How about banksters and real estate agents looking in the mirror and manning up about a serious screw up? Too bad tax payers were left holding the bag on that one, I read for 1.4 trillion we could have paid off *all* Americans sub prime mortgages thus preventing Americans from being foreclosed *and* bailing out the banksters sketchy derivatives. Of course that makes too much sense because it benefits everyone as opposed to a chosen few rich people, right?
And note I actually cheer on Ron Paul and Libertarians when they challenge empire abroad, and police state at home and challenge why a private bank the Federal Reserve mints our money, that is all good stuff. Too bad your faith in the 100% rationality of market actors is so misplaced. Hint greed distorts peoples ability to choose rationally during bubbles which occur often, look up "irrational exuberance."
And note I actually cheer on Ron Paul and Libertarians when they challenge empire abroad, and police state at home and challenge why a private bank the Federal Reserve mints our money, that is all good stuff. Too bad your faith in the 100% rationality of market actors is so misplaced. Hint greed distorts peoples ability to choose rationally during bubbles which occur often, look up "irrational exuberance."