tag:blogger.com,1999:blog-32582789.post8088721204291205381..comments2023-10-20T05:12:43.292-04:00Comments on Blue Bexley: When Foreclosures First Started Making Headlines Herebonobohttp://www.blogger.com/profile/08241279987882052237noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-32582789.post-34576288732415003932008-09-18T06:50:00.000-04:002008-09-18T06:50:00.000-04:00This is the problem in American politics. If you w...This is <STRONG>the</STRONG> problem in American politics. If you want to understand the agenda of a politician, just look who funds their campaign.<BR/><BR/>My Dad was a staunch, vote-the-slate labor Democrat. He and I debated for years about regulation vs free markets. When I was younger, I often thought him old fashion and out of date. As I have grown older, I recognize the wisdom of his words.<BR/><BR/>I remember in particular when the deregulation of the banking industry began. Dad was a child of the Depression, and said that commercial banking, investment banking, and insurance were purposefully separated from each other so that the risks taken in one of those industries was not transfered to the other. The particular interest was to keep the commercial banking system safe (primarily for individuals).<BR/><BR/>Today, we're seeing what happens when that lesson is forgotten. I'm about as conservative an investor as you can imagine, and today I wake up to news that my funds in money market accounts may be at risk. The only reason they're in a money market fund is that I felt the equity-based mutual fund they were in was too risky, and cashed out a few months ago.<BR/><BR/>Knowing that this Presidential campaign will cost each candidate upwards of $1 billion, how can we trust that either is really looking out for you and me, and not the big-money interests that funded their campaigns?<BR/><BR/>PLPaulhttps://www.blogger.com/profile/05960574627644930183noreply@blogger.com