On Thu, 27 Mar 2008 11:21:55 -0400, "
wrote:

Shamelessly stolen from another newsgroup
-----------------------------------------------------------------------------

From the OPINION section of today's Wall Street Journal


Regulatory Overkill
By ALLAN H. MELTZER
March 27, 2008; Page A14

The claim that deregulation went too far is coming from many sides.
snip most of the article

The financial system cannot survive
if the bankers make the profits and the taxpayers take the losses.

I think the above sentences sum up where we are heading. The same people
who whine about oil company profits will soon notice that the banks are
quite profitable, and the government has relieved them of the risk. At that
time there will be calls for banking to be taken over by the government.
The current call for more regulation is just the first step down that road.

I agree being a free market type.

Having said that, there is room for regulation in terms of margins on
hedge funding (which is the real problem). Currently, $1 million will
buy you $10 million call on commodity markets - that is what is
driving up prices so dramatically. You layout $1 million on, say an
oil contract, for $10 million, then sell that $10 million contract for
$11 million, you haven't risked very much for a $1 million dollar
payday effectively doubling your money.

That's gotta be fixed.