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Senate passes sweeping Wall Street reform

reefedjib said:
It doesn't sound very strong, which is a good thing, IMHO. Best to let the market take care of itself. It requires a lot of studies.

Unfortunately, it leaves the rescinding of Glass-Steagull Act in place so that Investment Banks and Commercial Banks can merge. :(
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I agree. They should have set those old rules back into place.
 
ptif219 said:
Sounds like more of Obama government take over to kill our capitalist economic system
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Wow, I never knew the bill did that! Can you point to the provisions in the bill that do that?
 
ptif219 said:
The Bill gives government control of the economy and banks.
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I see. You have a different definition of "control" than the rest of us. Ok then!
 
I'm not convinced at all. This bill doesn't really address the fundamental problems with our financial system. People have to understand that if we don't get regulations on derivatives and the risks the banks continue to take, We're going to have another crash that could possibly collapse our entire economy.
 
hazlnut said:
A little parroting of what Rush Limbaugh said, which has no basis in reality, is a dangerous thing.
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There I fixed that for you.
 
Deuce said:
I see. You have a different definition of "control" than the rest of us. Ok then!
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When Obama fires CEO'S and tells them what can be paid and takes over car companies that is control. This Bill continues to allow that
 
ptif219 said:
What does the bill do?
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ptif219 said:
When Obama fires CEO'S and tells them what can be paid and takes over car companies that is control. This Bill continues to allow that
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Consecutive posts.

Which is it? Do you know or don't you? Have you read it? Do you have two personalities?
 
Deuce said:
Consecutive posts.

Which is it? Do you know or don't you? Have you read it? Do you have two personalities?
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You claim it does not do what i said yet you show no proof of your claim.

The second statement shows the power Obama has executed over business.
 
ptif219 said:
You claim it does not do what i said yet you show no proof of your claim.

The second statement shows the power Obama has executed over business.
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I claimed that you have a different definition of "control" than I do.
 
Deuce said:
I claimed that you have a different definition of "control" than I do.
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You are saying what Obama has done to banks and GM is not control?
MG_119.gif
 
Be kinda great if there was an objective parsing out of exactly was all is in the new legislation, eh? Like who/what it will impact and the projected ramifications. From what we have seen in the last couple of years there were problems that warranted SOME kind of change. But most times when new "sweeping" laws come along there are pluses and minus's to the impact.

Anybody find a good link be sure to share it..... ;)




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Harry Guerrilla said:
Betcha money most people don't know that this protects a lot of the banks that got us into some of this mess. :ssst:
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I'll betcha double that this has more to do with closing tax loopholes than it does with anything else. The, "financial reform", is all about collecting more taxes.
 
a solid beginning of the oppostion argument to the 1800 page bill (no way holder's read THAT):

Chris Dodd's Do-Nothing Financial Reform--Mark A. Calabria - NYPOST.com

by exempting our biggest, cross-state-lines institutions it can be argued that the bill is just more taxpayer backed underwriting of the too-biggest

the littluns are treated less lovingly

it seems to promote to oversight positions those who've already failed as reviewers, seems to kinda make em overseers of overseers

it elimintates the OTS!

wow!

nothing about zero down loans, negative amortizations, impossible balloons, absurdly unrealistic adjustables...

dodd dealt those amendments deadly blows

NO INCLUSION OF FANNIE AND FRED (there ya go)

they're FAVORITES!

fannie and fred are the financial equivalents of the S-E-I-U

the failed f's are due to cost the taxpayer some 400B in toto

more bailouts for the biggest of the too-bigs

obama's like the eu---too timorous to tackle the real trouble
 
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a more consensual criticism

Derivatives sour Wall St. on Obama - Ben White - POLITICO.com

derivatives---tho dodd repeatedly declares he'll address em, he doesn't

actually, it's all about blanche lincoln, whom the white house backs in her runnoff against dollar bill halter in arkansas

the distressed senator as chair of ag has taken an extremist populist approach, introducing language that will force lenders to exit from the futures trades, the swaps, the options, ie, the most speculative of their practices

it's the THREAT of this divestment that has wall street all a-jitter (that, and the collapse of the eu and euro, the plummeting jobs numbers, the oil spill, the housing market's bottomless abyss...)

dodd would like to RETURN to the uber rich their favorite gambling games, but ms lincoln is in the way

she wants to win

anyway, dodd is deadlocked until june 6 when arkansas' answer will be announced (as if anyone can't anticipate)

Blanche Lincoln primary has banking bill in limbo - Carrie Budoff Brown - POLITICO.com

in sum, the derivatives denial is currently IN the bill which worries woebegone wall street, dodd wants it deleted but he can't so long as blanche still breathes

but it's more---all that cancerous UNCERTAINTY, ubiquitous under obama

that, and "the bad faith renegotiation of a previously agreed upon deal"

investors are incensed

POLITICS informs the entire process, a "lack of rationality"

it is what it is

the president is a putz, the most incompetent administrator america has ever endured

worry

wall street sure will
 
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The Prof said:
a solid beginning of the oppostion argument to the 1800 page bill (no way holder's read THAT):

Chris Dodd's Do-Nothing Financial Reform--Mark A. Calabria - NYPOST.com

by exempting our biggest, cross-state-lines institutions it can be argued that the bill is just more taxpayer backed underwriting of the too-biggest

the littluns are treated less lovingly

it seems to promote to oversight positions those who've already failed as reviewers, seems to kinda make em overseers of overseers

it elimintates the OTS!

wow!

nothing about zero down loans, negative amortizations, impossible balloons, absurdly unrealistic adjustables...

dodd dealt those amendments deadly blows

NO INCLUSION OF FANNIE AND FRED (there ya go)

they're FAVORITES!

fannie and fred are the financial equivalents of the S-E-I-U

the failed f's are due to cost the taxpayer some 400B in toto

more bailouts for the biggest of the too-bigs

obama's like the eu---too timorous to tackle the real trouble
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Details are important. But if there is no mention/address of Fannie or Freddie in a "sweeping financial reform bill" from Dodd and Barney, that would seem to be a red flag.

(call me a cynic....)



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j-mac said:
So we need government to micro manage the banks?
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While I realize you are essentially financially ignorant, your post makes abnormally less sense then normal.

A transparent market for derivatives is no more government micromanaging then the Chicago Board Commodities Exchange. Or the NYSE for that matter.

Furthermore, keeping track of assets to liabilities does not involve managing at all. It merely deals with data collection.

Please refrain from discussing topics you are wholly ignorant of.
 
ptif219 said:
When Obama fires CEO'S and tells them what can be paid and takes over car companies that is control. This Bill continues to allow that
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Wow. I didn't know you were trying to take the Ignorant King's throne.

First of all, TARP related pay caps are a good thing as it creates incentive NOT TO TAKE GOVERNMENT MONEY IN THE FIRST PLACE. Frankly, IMO, if you ran your company into the ground, you should not even be paid. That said, taking over car companies does not equate to having some say on the board.

I guess you think the government is telling GM and Chrysler what models to make, what lines speeds they can run, what parts they can use, so and so forth.

It amuses me how people who ignorantly defended Bush now ignorantly attack Obama.
 
Deuce said:
I claimed that you have a different definition of "control" than I do.
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Remember, anything ptif219 believes is true to him. Owning preferred stocks = managerial control.

LOL. There's a reason i'm not a Republican. I refuse to associate myself with the crazy lot of that party.

You are saying what Obama has done to banks and GM is not control?
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Yes.
Did GM and the Banks get told how to run their procedures? No.
Did GM and the Banks get told who they can and can't sell to? No.
Did GM and the Banks get their corporate structure redone by the government? No.

Tell me, does preferred stock give you voting rights? Let's see just how little you understand of the subject.
 
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obvious Child said:
First of all, TARP related pay caps are a good thing as it creates incentive NOT TO TAKE GOVERNMENT MONEY IN THE FIRST PLACE.
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This is true as applied to many of the recipients, but doesn't really work for those firms that were ordered to accept TARP money.
 
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