Federal Reserve Chairman Ben S. Bernanke urged a sweeping overhaul of U.S. financial regulations in an effort to smooth out the boom-and-bust cycles in financial markets. [1]
Holy Genesis 41, Batman! Come back in another 7 years when conditions for the next boom might be brewing and we’ll talk. Bringing it up now is totally pointless, IMHO 
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[1]: "Bernanke Urges Rules Overhaul to Stem Risk Build-Ups", by Craig Torres and Scott Lanman, Bloomberg, March 10, 2009.
I dunno.. seems like the first step to fixing the problem is admitting you are part of it. Wasn’t alot of this mess caused by the regulations in place not being enforced to begin with?
Even if Bernanke manages his reforms, what do you want to bet that someday when another asset bubble forms, folks will be saying how “this time it’s different” and all those old regulations should be done away with.
We seem to be able to build on the technology of past generations, but sadly, we don’t seem to be able to use more common sense than the generations before us.
But twist, we are so much smarter and more sophisticated than those dinosaurs of 1873, and 1929. Why, with this new improved leadership, we still might pull off a glorious exponential growth of wealth for everyone. If not; then the lessons we are learning now will be the springboard for our next attempt to bring Utopia (which will surely succeed.)
Because “We know EVERYTHING!” (worth knowing)
http://www.youtube.com/watch?v=ihbL8ewkP-o&feature=related
Hutch-
It looks like a technical information bubble to me. : )
A crash would be a good thing- it would be my only chance to ever catch up!
twist,
exactly…..we were definitely smart enough in the late ninties and early years of this decade to do away with all those silly regulations that stemmed from the depression.
Must … control … fist … of … death …
“The Looting of America’s Coffers”, by David Leonhardt, New York Times, March 10, 2009.
… and this will be entirely forgotten by the time the effects of The Panic of ‘08™ wear off. Even Igor is “dejected.” Well, if nothing else the NYT is great at hindsight. This assertion neatly summarizes one thing we bubble bloggers (and selected mainstream prophets) have been saying for years.