Interesting that you waste so much "productive time" that you claim you value so much arguing about those things on HN. It's not like HN exactly attracts the crowd that will write next banking regulations, is it? Then what's the point of having these arguments here? If it's about getting more karma, then it's obvious you'll get plenty from extremely libertarian tech crowd here, but it's not like your 12000 karma is convertible into real dollars?
Another observation is that many times you come in with an argument you seem to purposefully derail it into something that more suits you. The original argument was:
Similarly with nonexistent regulation of derivatives and the ratings thereof during the real-estate bubble.
instead of addressing those two issues you go into government involvement in housing market and Basel requirements. Those are important issues not unrelated to housing bubble, but that wasn't original point!
Of course housing market was heavily regulated and influenced by government. But market for housing securities wasn't! It is basic knowledge now that pretty much everyone could structure, rate, insure and sell pretty much anything to pretty much everyone. I don't understand how you could argue with that?
And finally, back to the topic, is it not indicative of something that SecondMarket is now the marketplace for both the toxic housing junk and hi-fly tech start-ups?
Another observation is that many times you come in with an argument you seem to purposefully derail it into something that more suits you. The original argument was:
Similarly with nonexistent regulation of derivatives and the ratings thereof during the real-estate bubble.
instead of addressing those two issues you go into government involvement in housing market and Basel requirements. Those are important issues not unrelated to housing bubble, but that wasn't original point!
Of course housing market was heavily regulated and influenced by government. But market for housing securities wasn't! It is basic knowledge now that pretty much everyone could structure, rate, insure and sell pretty much anything to pretty much everyone. I don't understand how you could argue with that?
And finally, back to the topic, is it not indicative of something that SecondMarket is now the marketplace for both the toxic housing junk and hi-fly tech start-ups?