Could the Current Great Recession Have Been Avoided?

I have written on this before, starting over a year ago and I repeat it now, I was right then, I am even more correct now.

America has always had self-corrective economic cycles, but now we have more regulators than ever before, and they are doing their man-made damage, as never before.

Yes, we could have avoided the current Great Recession.

1) By avoiding the massive bailout by regulators offering the illusion of doing something. Probably, all that was needed was a federal agency guarantee of all bank assets, and the fee charged to the banks.

2) By avoiding “mark-to-market” accounting of mortgage assets, which had no market appraisal, and which wiped out assets of major banks almost overnight, aided by short selling this enticed.

3) By having a government agency buying up, at bankruptcy, empty tract homes in over-speculative states such as Nevada, Florida and California.

The government has repeated the same errors made by Herbert Hoover and Franklin Roosevelt during the Great Depression. In the process we have accomplished little for the economy but have revamped the form of government with state capitalism, a nasty type of socialism.

Prediction. The Dodd-Frank Act, in further attempting to get us out of this mess, will be a disaster beyond anything America has ever had.