Former FED Chairman Alan Greenspan argues (according to Businessweek) "that the price of eliminating giant speculative losses is a lower standard of living."
Short hand? If we don't let wall street bet big, they don't get to live high on the hog. Duh?
So...
Alan buddy, are you saying that... IF we regulate banks and/or investors FROM being able to engage in Las Vegas style investing (shall we say speculative losses) THIS regulation of the FREE MARKET precludes Wall Street CEO's from having an adequate standard of living (say like having a G4 aircraft for weekend trips at the Hamptons?). I guess with the masterminding of the BIG BAILOUT, they (you) get to keep a high standard of living while the rest of america pays for it.
Bravo buddy.
Brilliant, absolutely brilliant.
So Free Market economics is really only some of the time. Got it.
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