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View Diary: Carnegie Mellon Professor: No bailout needed (305 comments)

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  •  I'd be all for freezing the derivatives market. (1+ / 0-)
    Recommended by:
    SteveP

    Nothing is manufactured other than paper.  It's an inmportant factor driving this whole mess.

    When folks start putting their money into meaningful investments that actually produce something of value, the markets should take care of themselves.

    Just sayin'.

    The rhetoric of the right wing is being fixed around the policy of disinformation.

    by MoronMike on Wed Sep 24, 2008 at 01:52:10 PM PDT

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    •  it's an important point (1+ / 0-)
      Recommended by:
      Calamity Jean

      the reality is that if we cut off one 'instrument' such as derivatives, some bright soul will just come up with another.

      Ultimately there needs to be some realization that 'economic activity' is kind of a poor thing to be upon which to be basing economics, production makes quite a lot more sense.

      As former president Clinton said on the Daily Show - imagine if instead of rolling money from the tech boom into instruments in the housing market, we had sent that money after green energy? Things'd look just a tad different right now.

      "you have the right to your own opinion. You do not have the right to your own facts" -Daniel Patrick Moynihan

      by SteveP on Wed Sep 24, 2008 at 02:37:51 PM PDT

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