Whatever are you talking about? “…Bad things happen to good people when we do all of those things, and the irony is that history proves more bad things happen to more good people when we try to “fix” the market…”

Actually history proves the opposite. I am a retired trader and love the game. Toomey supports the faction that forgot the old axiom: pigs get fat and hogs get slaughtered. Sorry your guy crossed the line. Rick Santorum(the name not the noun) put it best – Toomey is FAR too right wing for Pennsylvania

The argument that Toomey “traded swaps and derivatives”, and therefore he is an unworthy candidate for the Senate of the United States abuses common sense; but, it does so no more than does the argument that because someone meets “good social purpose criteria” they must be given a mortgage.

The point is Joe Sestak not only supported, but promulgated the abuse of common sense while a member of congress, and then did nothing to rein it in after it hit the fan. Now his supporters want to smear Pat Toomey with innuendos and half truths.

Hopefully, they will not be able to deceive enough people to win this very important upcoming election.

Crudely labeled, strict “supply side” economics has either failed or produced drastic inflation almost everywhere it’s been applied – in this country in the 1920s and 1980s, by the IMF in Asia, and by the World Bank via the “Washington Consensus” in the 1990s. It goes beyond the normal mechanics of the business cycle, as the troughs (or recessions) in supply-side systems are always deeper and prolonged, because they usually involve a deadly combination of inflation and unemployment.

Here, our recent recession was primarily the result of poor financial regulation and lending practices — essentially, our rules weren’t comprehensive or good enough.

While I appreciate Toomey’s intellectual honesty, his views seem out of touch with the reality of the last decade.

Try to remember Wall Street didn’t need a bailout because of years of being over regulated, its like an infant; you can’t leave it in a room by itself. But seriously you have convinced me; because while Admiral Joe Sestak was only out defending our country Pat Toomey was bundling Mortgages into leveraged options packages for America!

Folks, don’t be saps & victims. Exercise a little common sense. Do you really think Goldman Sachs gave $1MM to Obama because they thought he’d make a dandy President? They were paying for services rendered (support of TARP) and services yet to be provided (TARP on steroids). Don’t get me wrong: if you like TARP & TARP II, then you shouldn’t care that GS paid Obama to support those programs, but don’t pretend that Obama’s ever going to cross GS. That’s just not realistic.

The reality is that all the TALK about doing something is just a quick and easy way to shakedown Wall Street. I mean Obama literally announces his “anti” Wall Street programs while he’s on fundraising trips to Wall Street! They couldn’t make this legalized extortion any more obvious if they tried. Once the Ds have all the protection money they think they can get, they’ll water-down the bill, so it’ll only affect small business and others who can’t afford to buy their services.

Nobody thinks markets are perfect or self-regulating; markets, after all, are the product of legal rules. That said, no sane person believes that we should change the rules just because we don’t like the result. Sure, some bad things will happen to good people if we don’t bailout Wall Street and “protect” consumers and so on, but you know what? Bad things happen to good people when we do all of those things, and the irony is that history proves more bad things happen to more good people when we try to “fix” the market. You may not remember it, but the Soviet Union killed tens of millions of people trying to achieve a “fair” distribution of resources. And Obamanomics has pushed millions into unemployment and our nation to the brink of bankruptcy, but – hey – at least government workers will get pay raises and guaranteed pensions this year! The fact that these “fair” policies never work doesn’t seem to diminish their appeal to some people, but the reality is that Big Government = poverty, oppression, and corruption. What we need is a Small Government reform. Break-up the big banks. End campaign finance “reform,” so we can have a political marketplace of ideas. Take away the Fed’s discretion, so they can’t manipulate the economy to favor their pals.

Look, you liberals want to pretend that we’re on the side of banks and you’re on the side of people, but the reality is that we’re on the side of what works and you’re on the side of Utopian nonsense that’ll just hand everything over to those ruthless enough to exploit your naivete (like the banks).

I’m sick and tired of Ds like Barney “Freddie & Fannie are fine” Frank and Paul “What Crisis” Kanjorski telling us that if only we gave them still more power, they’d finally do what they never managed to do before. Do realize those idiots lost $400B on Freddie & Fannie & we’re not done losing money yet? What kind of person would keep their job after a $400 BILLION dollar mistake? Does Hallmark have a card for that? (“I know I lost you $400 Billion, but some friendships are worth more than money!”) Look, I don’t think any of you Ds are bad guys, but I think you’re clueless. FinReg is the Briar Patch, and Wall Street is the rabbit, but you keep telling yourself they REALLY don’t want to go there.

If the Ds get their way, Wall Street will be in its Laughing Place
soon enough.

Please continue to look foolish by trying to confuse the public and conflate financial terms. I understand that fearmongering is part and parcel of your campaign strategy, so please keeping pushing your luck with spurious logic. It only makes you look like part of the problem. If you are so easily confused by financial terms, how could we possibly trust you to fix the problems let alone regulate the abuses.

Good luck and best wishes,
ChescoTom

Even a libertarian utopia still has government regulation of markets. You have to have regulation to ensure perfect information otherwise you get market failures all over the place. But, by all means, don’t let me stop you with facts, economics, and logic.