09-19-2008, 06:06 AM
Since the purchase of "Tickle Me Elmo" was never a regulated market the makers never needed to wade into the politics of deregulation.
It's a bogus analogy, had deregulation been derailed no one would have been hurt since no financial institution would have been permitted to finance the "Tickle Me Elmo" pyramid scheme. The problem is, has been and remains one of lack of oversight, something championed by Republicans and not opposed by many Democrats.
Blaming the suckers who bought the pyramid scheme deflects attention from the real culprits, the financial institutions and lawmakers who changed the rules.
It's a bogus analogy, had deregulation been derailed no one would have been hurt since no financial institution would have been permitted to finance the "Tickle Me Elmo" pyramid scheme. The problem is, has been and remains one of lack of oversight, something championed by Republicans and not opposed by many Democrats.
Blaming the suckers who bought the pyramid scheme deflects attention from the real culprits, the financial institutions and lawmakers who changed the rules.