So, the economy is fucked

[HaloGuardian]

You don't need more "laws" to protect people from fraud. Fraud is fraud, and those commiting it should be held accountable.

[MsThang]

You don't need more "laws" to protect people from fraud. Fraud is fraud, and those commiting it should be held accountable.

I was thinking about that this morning actually. Creating a law to protect those who are breaking the law or are being stupid. It doesn't work really.

But technically, people who got a Low-doc loan (not stated income) weren't committing fraud or breaking the law. They were just being stupid, if they couldn't afford it.

There's a fine line of protecting people who don't make stupid choices while ensuring that those who do have to suffer the consequences.

[MsThang]

Your right I did say it, but I kind of qualified it afterwards. A better choice of words was probably called for.

My contention is you're not going to create a law that allows people to make stupid decisions and protect those who are indirectly affected.

Then you shouldn't make a law period. Like Halo said, fraud is fraud. Punish those who break the law, and make those who make stupid choices learn their lesson by not bailing them out.

Unfortunately, the risk you take by being a part of this economy is that you have risk. If you don't want risk, you don't get to play.

[outsider]

The thing is no law protects me or you or anyone else from the failures of these companies that will impact all of us because of decisions they made legal or not. I get no profit but I inherit risk, fuck that.

[MsThang]

The thing is no law protects me or you or anyone else from the failures of these companies that will impact all of us because of decisions they made legal or not. I get no profit but I inherit risk, fuck that.

Well, unfortunately, that's the way the market has tied into so much of our lives. I don't think that will ever change. And I really can't see a practical solution to change it.

[outsider]

I can.

No corporate bailouts. I am burdened either way, let a failed corporation die. If it kills the economy it will happen with or without any sort of bail out.

Apply antitrust regulations to companies so that no company can ever get "too big to fail"

[HaloGuardian]

I don't understand anti-trust nearly enough and it's something I'll be looking into here in the near future...

[OldSnakeWontDie]

I'm always broke so this is like whatever to me.