Woodruff wrote:No different than free market. We already have a better choice than the major banks, and that is the smaller banks and credit unions. But how many people avail themselves of those better choices? They don't, and they won't. That's why the free market doesn't work...advertising wins the free market, and advertising isn't honest but too many people treat it like it is.
Let's say the free market results in all the current financial institution issues like fraud.
(1) Your tax dollars don't go to the government, which, as I think I've demonstrated, is not helping you.
(2) You get to keep more of your money and you don't have to indirectly use your money to benefit fraudulent financial institutions through laws that the financial institutions have written!
Let's say 2008 crash happens in an unfettered free market.
(1) No bailouts using your tax dollars to those same financial institutions
(2) Instead, the financial institutions crash, are eliminated, and new financial institutions take their place with the idea that they maybe shouldn't do the same shit as the old financial institutions.
(3) Your tax dollars don't go to failed financial institutions with no incentive not to f*ck up again.
So yeah, a free market would be a lot better.
Woodruff wrote:Of course she isn't. It hasn't even come up. I'm simply pointing out why the free market doesn't work. Just like communism, it simply cannot work unfettered because people suck.
I have never advocated an all-or-nothing position. I certainly support anti-trust laws and unions. Which is why it does matter what Warren is talking about in this context. There is nothing more frustrating than your line of argument Woodruff. You know how Phatscotty calls you a socialist when you make a perfectly reasonable point on something? That's what you're doing here. Essentially you're saying that because I think the free market in the context of the financial industry would do a better job of regulating and would cost less that I'm in favor of a free market in everything and therefore love worker abuse and monopolies. Please stop.