To: Intolerant in NJ
Hmmmm - someone that actually studies the cause/effects of what was tried, what the stated goals were, and how it worked out, and you don’t see how he might be able to advise a government agency that sways with the political forces....
60 posted on
12/18/2011 3:47:52 AM PST by
trebb
("If a man will not work, he should not eat" From 2 Thes 3)
To: trebb
Hmmmm - someone that actually studies the cause/effects of what was tried, what the stated goals were, and how it worked out, and you dont see how he might be able to advise a government agency that sways with the political forces......nope - whatever he might have studied in the past, however it might have worked out, typically will have only partial similarity to what's going on today - markets, policies, financial practices all change over time - this was especially true of what was happening with Freddie and Fannie over the last ten years or so - a lot of the problems they had were precisely becasue they were experiencing practices never encountered before - bad loans cut up into obscure derivatives traded in murkey markets - I wouldn't want somebody to tell me what happened in the last financial collapse - I'd want somebody with a solid understanding of economies to help predict what was coming - what the prices of underwater houses were likely to do when derivitives started to default, for example - and that wouldn't be a historian.....
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