Dev wrote:
The problem with these labels of left and right are that they are somewhat vague. Just because someone is right of center economically (such as myself and biped) doesn't mean our stances on specific policies regarding certain institutions can be inferred. Lassez-faire policies in banking probably isn't wise because of the unique position the banking sector holds in an economy so that doesn't mean that since that didn't work everyone should all now be left wing. In many cases leaving the free market solve supply and demand is quite sensible and the most efficient mechanism.
I don't really think that left/right wing labels work either. I have heard multiple arguments regarding the treatment of the banks, and most of them generally break down to 'we can't let the banks go under....Triple A rating....keep money flowing etc.' Some Politics.ie and Board.ie discussions speak of nationalising the banks, but this would tarnish their ability to lend?
What I've been wondering is, how does receiving such a massive bailout restore faith in outside lenders, while nationalised banks are not viewed this way because they had to be propped up by the government? Surely both are signs of banks failing, lack of regulation and a need to be saved from insolvency?
Perhaps the free market just needs to be the better-regulated free market. I, however, cannot get away from the fact that the average person is suffering austerity. For instance, all the businesses going under don't get propped up because they don't occupy that "unique position" of the banks. It's all so unjust, but as I am told, 'that's life'.
Sometimes I don't know what to think.
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