United Socialist States of America

Gonz

Gonz

molṑn labé
Staff member
WASHINGTON – The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year's Wall Street failures that plunged the nation deep into recession.

The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators.
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Close the door, put out the lights
 
"The crisis from which we are still recovering was born not only of failure on Wall Street, but also in Washington," Obama said. "We have a responsibility to learn from it and to put in place reforms that will promote sound investment, encourage real competition and innovation and prevent such a crisis from ever happening again. "
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We're from the government,we're here to help.
 
it's about time the regulate those jackasses some more.

hey gonzie you really think that DERIVATIVES are a good thing?

because that's the kind of non-real money scam that happens when you allow freewheeling gamblers to control an industry/institution that effectively has as much direct impact on our lives as the government.

nah, let's just let them do what they want.
 
I do have a problem when something becomes its own mega-entity where there's nobody to hold accountable. I do believe that someones ass should always be on the line.

Carefree risk aint risk, its the same as many liberal ideals with no personal accountability.
 
2minkey said:
,,,that effectively has as much direct impact on our lives as the government.
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No. Government is coercion by the use or threat of force.

Unless there is no alternative, there is a choice, including the one that is uncomfortable. How often is there NO alternative?

However, minkey, I'm surprised you like this part...
give the government new powers to break up companies
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Well, maybe not so much
 
That whole mess is going to come unraveled in the next 36 months
and it’s going to be Armageddon. America in default, cats and dogs living together!
 
minkey, I don't know enough economics to like or dislike futures trading. However, seeing that there are two (or more) parties that are willing to take the blind risk, I don't see how it's going to collapse our system.
 
She's come undone, Mama, it was too late.

That's just it, there will be nothing that can stop
a collapse when (not if) the 50 to 100 trillion dollars worth
of credit swaps/derivatives come undone.

Just know that each and every weekly report of foreclosures
going up up up brings it that much closer.

Either way it’s going to be nasty, the issue is
what should the government do in this situation.
They have one of two choices neither is very
desirable, although one is preferable to the other
just ask the Chinese heh heh
 
catocom said:
:grinno:
'bout like global warming just about destroyed the planet.

nope, just more illusions
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yes, of course you're right. there's no recession, and the economy was nowhere near catastrophe with businesses unable to get working capital.

:bgtup:
 
2minkey said:
it just fucking did, nearly.
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It had nothing to do with Congress forcing lenders to give credit to the unworthy?

It had nothing to do with us giving away hundreds of billions to corporations that do not have a Constitutional right to said billions?

It had nothing to do with Congress overstepping it's authority by taking from some & giving it to others?

It had nothing to do with overregulation of industry?
 
you're right gonz. it's overstepping of authority, over-regulation, and simply the aggregate of poor individual choices in lending.

:bgtup:
 
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