Dow down 777 points -- open thread

Respectfully, Cranky, I disagree. I don't dispute some of what you say about the subprime mortgage mess. As someone on the Today Show said a couple of weeks ago, the idea that a person who makes $30,000 a year ought to be able to afford a $400,000 mortage is ludicrous.

Before the housing bubble burst, I used to look at real estate listings for small houses, with not much to recommend them, and wonder who would pay these ridiculously inflated prices? But the problem isn't just what you call "social engineering."

I don't think everyone needs to own a home, but we all need to be taught how to manage our finances and how to avoid obvious credit scams - easy credit whether it comes from one of those "paycheck loan" companies that are glorified loan sharks, or from subprime mortgages. It is true that a lot of individual and collective bad decisions went into making this mess.

However, the anti-regulatory policies from the Reagan era on down to today are one of the other main reasons, IMO, we are in this mess. Enron was the canary in the coal mine. The idea that any industry or sector can be trusted to police itself is ludicrous and against all common sense.

This mess requires some in the Republican Party to admit they went too far with the 'deregulation' kick. But the phenomenon of self-justification probably precludes such an honest assessment.

However, the anti-regulatory policies from the Reagan era on down to today are one of the other main reasons, IMO, we are in this mess. Enron was the canary in the coal mine. The idea that any industry or sector can be trusted to police itself is ludicrous and against all common sense.

I don't know what you do for a living. But as of this moment, I so desperately want to send a dozen state and federal regulators to whereever you earn a living, and have them micromanage your work for you. I want you to suffer, be annoyed, and ultimately financially ruined by them, so you will finally understand the difference between reasonable and absurd. Then maybe, just maybe, you'll think twice before you spout this pure nonsense.

This mess requires some in the Republican Party to admit they went too far with the 'deregulation' kick. But the phenomenon of self-justification probably precludes such an honest assessment.M/i>

Apparently, it bothers you not the slightest, that people can make clear, referenced, supported, logical descriptions of specific actions, legislation, regulations, and policies, and can tie them to specific outcomes, neatly documented and illustrated, but yet, when you look at the same outcomes, you can only whimper "I think Reagan did it".

You cannot reference even a single policy or legislation or action from the Reagan era which has ANY bearing on ANY of the specific things going on.

Yet, you demand Republicans admit guilt, and absolutely refuse to believe that 2+3=5.

I can explain the problems with all of these without a single political assumption or statement. It can explained and fully, at that, without a single assumption or leap of logic. It is direct cause and effect. But you're still going to say "I think Reagan did it".

It's like walking into a court room and the jury is chanting "Hang 'em!" before the trial starts.

You're not listening, you're not paying attention, and you're not the slightest bit serious about understanding. You just want to unburden your anger shouting "Reagan did it!".

I simply cannot communicate with you.

Wow, Cranky.

I work in a business that probably experiences the ultimate in Federal Regulation. Ok, that would've been my last job, which was in the Navy, but this is a close second.

A homeless shelter that receives some federal funding, and whose tenants have to deal regularly with just about every Federal Agency you can imagine.

Somehow, we have managed to avoid suffering, being micromanaged, or being driven out of business.

Seems a bit.. hyperbolic.