Quote:
Originally Posted by sck5
you guys miss my point. the point wasnt that people should have "picked the top". It was that it was very clear that an unsustainable bubble was in progress and that when it popped it would be unpleasant. In other words, it WAS foreseen by many though apparently not by anyone in a position to do something about it. At it was foreseen not a week or two ahead of time, but YEARS ahead of time. You dont have to pick the top to know that unsustainable trends are happening. Just look at the graph posted above. The system was way out of historical ranges years before it all melted down.
As for "putting things under government control" that is EXACTLY what too much deregulation has brought us. It is NOT A GOOD THING that the government now owns the mortgage market, the largest insurance company, and large parts of the banking system. Better regulation is preferable to government ownership. Most people would agree with that, and would not agree with the deregulation fanatics who say "let them all fail" because that would ruin too many lives.
THAT is the choice, - better regulation or another crash that results in government ownership of large parts of the economy. We can probably all agree that the latter isnt a very good outcome.
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Just curious Sck5, you say it was seen by many but apparently not by anyone who could have done anything about it.
In your opinion, what could have been done to prevent it?