Inside job

I watched this documentary yesterday. My feeling was that deregulation was the result of the ending of cold war. Rather than pinning everything onto evil rich people, what we could learn is to make a clear case for the ideology and reality.

Let me elaborate a little. I think inside job provided us a clear picture of the process of how we get to this situation. But it did not provide a good enough cause of the situation. The world is a funny place. Is it clear which one is the cause? Maybe, maybe not. When the industrial revolution started, capitalism flourishes, socialism was then born, which bore communism. Then the rise of communism after WW2, strengthen the position of ideology, for which so called "free" western European Countries-United States proudly took the plight onto their own shoulder. Then when the Soviet collapsed in such a speed. When the huge pressure was suddenly lifted, the opposite ideology from communism lost its containment over night. People on the winning side started to believe they won, their ideology was triumphant. Now it is time to be really free. And all the evil traits of capitalism were finally revealed without the check of regulations, imposed by financial institution itself, or political institution.

That is more of a real cause of deregulation. The problem is not regulation or no regulation. Everyone knows that being free does not mean anarchy, well, for most people anyway. So the problem should always be how to regulate, how much is necessary, what to regulate.

I always remembered Federalist paper from USA founding fathers. It clearly said that we, human are filthy and untrustworthy. No one can escape from that. I think this documentary proved the description above was right. Now, we know the cause of the problem and the process of the financial melt down. I think we could have a certain balance to move forward.