Barney Frank quotes Marx, and wants to regulate hedge funds

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Friday, October 5. 2007

Barney Frank quotes Marx, and wants to regulate hedge funds

Regulating hedge funds is an oxymoron, and moronic. Markets do crazy things, regularly, and as long as the Fed keeps its God-like eye on things, we do not need politicians trying to control deliberately-high risk markets. These markets are not for sissies, and everybody knows that.

Posted by Bird Dog in Politics at 09:15 | Comments (3) | Trackbacks (0)

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I'm no expert, but it seems that when Democrats think they see large cash flows, they think, "Tax Opportunity". Has it been any different with their desire to legalize drugs, prostitution, gambling? Of course, here in Connecticut, with our fairly large gambling industry, the infusion of money from the casinos isn't even noticed anymore - the ruling RINO/Dem junta is looking for even more. Personally, I have relatives who work for hedge funds, and they do well; I've also seen the palaces that some fund managers have built in the northwest hills, and all I can think in either case is, "Good for you", if you can stand the strain of the job.

#1 Steve on 2007-10-05 09:37 (Reply)

http://instapundit.com/archives2/010192.php

(below, pasted in full, but go there for the hyperlinks)

****
IN LIGHT OF EVIDENCE THAT POPULISM AND PROTECTIONISM ARE GROWING, some thoughts of Robert Heinlein:

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded � here and there, now and then � are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as "bad luck."

I'm just, you know, saying.

posted at 07:45 AM by Glenn Reynolds
****

From me, i say, "yeah --that's it --bad luck!"

#2 buddy larsen on 2007-10-05 12:44 (Reply)

habu, hope you're out there, you gotta see this:

http://ibdeditorial.com/IBDArticles.aspx?id=276390821681713

"who is Patricia Hortung?"

#3 buddy larsen on 2007-10-05 19:36 (Reply)

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Friday, October 5. 2007

Barney Frank quotes Marx, and wants to regulate hedge funds