Ron Rosenbaum

Useful History for Those Ignorant on the Subject of Regulation and Deregulation

I think this well documented article will save me time responding to commenters who seem to be ignorant of the role of deregulation played in the collaspe of the banking economy. Yes mortage lending policies played a role, but not as much as the revocation of Glass -Steagall’s separation of banking and investment functions and the subsequent lack of regulation of the time bomb “investment supermarket” and hedge fund entities. But those who seek to blame the crash on one party and not another just demonstrate what fools and ignoramuses they are. Both parties contributed in their own ways.

I was having dinner with a prominent conservative figure the other day, and he told me how ashamed of the name “conservatism” ignorant blog commenters had made him. I sometimes feel the same way about liberal blog commmenters as well. The blogosphere was supposed to encourage individuality and free thinking. Instead, he pointed out, it has largely turned into a landcape of gang warfare and mindless conformity ruled by cowardly and ignorant thugs who hide behind their anonymity.

It has to do with the protection from the embarrassing disclosure of their ignorance that anonymity affords. It’s sad though, the mindless group-think and conformity, the smug self- satisfied, know-it-all pose of so many commenters. Go ahead make my day, prove his point; cowardly abusive anonyous ignoramuses are the plague of the blogosphere. Let’s see how many of you show up cowering behind your fake names.