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Thread: Senate passes sweeping Wall Street reform

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by upsideguy View Post
    It is pretty typical for an investor in a workout to fire the old CEO. Why would you keep a guy that ran the Company into the ground?
    What give Obama the right to do it? Since when does government take over private business?

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by ptif219 View Post
    Obama fired the CEO and put in who he wanted. Stock holders had no say
    The government owns 60% of the stock, so the stockholders did indeed have a say.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by upsideguy View Post
    The government owns 60% of the stock, so the stockholders did indeed have a say.
    The only one with a say was Obama

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by ptif219 View Post
    The only one with a say was Obama
    LOL. Do you even read what you post?

    Still haven't brushed up on corporate structure have you?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    LOL. Do you even read what you post?

    Still haven't brushed up on corporate structure have you?
    You keep ranting but have not shown me wrong,

    GM CEO Wagoner forced out by White House :: CHICAGO SUN-TIMES :: 44: Barack Obama

    Time and time again, General Motors Corp.'s board of directors reaffirmed its support for Chairman and CEO Rick Wagoner, even as the company piled up billions of dollars in losses and begged for government loans to stay alive.

    But Wagoner is now a high-profile casualty of government intervention, forced out as part of the Obama administration's sweeping last-ditch effort to save the century-old auto giant.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by ptif219 View Post
    You keep ranting but have not shown me wrong
    And you haven't proven you are right in any measure. You have this asinine belief that Obama is running a centrally commanded economy merely because the government, as a shareholder dictated who was CEO.

    You have failed to actually SHOW the government is running the firm and you have run away from questions that actually deal with how a firm is run.

    Rather then show how the government is setting line speeds, part suppliers and vacation time, actual running of the company you stick to the asinine argument that they replaced the CEO, which as a shareholder, the government is given the right to, and therefore Obama is running the company.

    I made the joke about how stockholders according to your argument are running the firm. You failed to understand it due to your lack of understanding of corporate structure.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    Basically all this bill needs to do to not be a total frack up is:

    1) Create a transparent market for derivatives
    2) Penalize excessive risk taking by large institutions
    I would defenitely agree with 1. However, far more important imo is to create an agency that has a power to place a non-bank financial insitution into recievorship (similar to FDIC) to slowly and safely wind down a failed company. This would hopefully prevent a situation similar to the mess we had with AIG, lehmans, etc. Did the bill at least do this?

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by obvious Child View Post
    And you haven't proven you are right in any measure. You have this asinine belief that Obama is running a centrally commanded economy merely because the government, as a shareholder dictated who was CEO.

    You have failed to actually SHOW the government is running the firm and you have run away from questions that actually deal with how a firm is run.

    Rather then show how the government is setting line speeds, part suppliers and vacation time, actual running of the company you stick to the asinine argument that they replaced the CEO, which as a shareholder, the government is given the right to, and therefore Obama is running the company.

    I made the joke about how stockholders according to your argument are running the firm. You failed to understand it due to your lack of understanding of corporate structure.
    Obama got rid of the CEO and put in who he wanted. That is not running the company?

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    Re: Senate passes sweeping Wall Street reform

    A $50B cash infusion gave the government the right. Any workout equity firm would do the same thing. You would question the judgment of a workout firm that did not make the sitting CEO show cause as to why they should not be immediately terminated. That all said, the government is substantially a passive investor.

    Did anyone mention that this last ditch effort paid off, saved thousands of jobs, prevented more spent on unemployment and will result in the treasury getting all of its money back with likely a profit?

    I don't see a problem here. Let's move along.
    Last edited by upsideguy; 06-18-10 at 06:40 PM.

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    Re: Senate passes sweeping Wall Street reform

    Quote Originally Posted by Chappy View Post
    The mortgage interest deduction is the American way!

    apdst's statement, “you can kiss it good buy,” is right. It was a good buy.
    I hate to be a pest, but I was wondering if you could address my questions.

    Can you even answer them, or were you just touting this bill and its supposed efficacy because you're a Democrat? Your silence indicates that it's the latter.

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