tag:blogger.com,1999:blog-5385561492425008696.post2425038251990800455..comments2008-11-05T08:48:29.459-08:00Tom Khttp://www.blogger.com/profile/00798920890322930220noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5385561492425008696.post-38476909125865833662008-11-05T08:48:00.000-08:002008-11-05T08:48:00.000-08:00In 1929 you could buy stocks with 10% on deposit - excess leverage<BR/><BR/>Bill Clinton rode a tech bubble and repealed the Glass Steagall act. After repeal of Glass Steagall we allowed investment banks to leverage up 30 or 40 to 1. Way excess leverage.<BR/><BR/>When ever we party with excess leverage this is going to happen and the public will elect socialists like FDR or Obama to "save" them. <BR/><BR/>Unfortunately socialist tinker with the free market and screw everybody. There is nothing wrong with free markets regardless of what you hear unless you allow excess leverage.<BR/><BR/>While there is plenty of blame to go around the one man who should be blamed is Mr. Bubble (aka Greenspan)<BR/><BR/>If you want prosperity you need capitalism. If you want the prosperity to last a long time you MUST regulate excess leverage.Anonymousnoreply@blogger.com