WIN WIN WIN: Senate passes Financial Reform Bill

  • Thread starter Thread starter seventh circle
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This.


Consumers and the public will get screwed by this.

Wall Street's intelligence>>>> Capital Hill and Main Street
 
I wanted three things out of this bill

A consumer protection agency that is not part of the Fed or any other department.
Stiff regulations on derivatives.
Banks must hold a certain amount of capital.


Now we need to bring back Glass Steagall and were good.
 
Good call.
I make that mistake quite often

However if you understood what I was getting at then I did my job
 
have you read the 1400 page bill?

i'm guessing you read the article and yet you feel confident that it will help.

how exactly is it restricting derivatives trading?
 
Congratulations you can copy and paste.

CDO's were made that had exposure to sub-prime mortgages, yes, but that doesn't mean a CDO only has sub-prime mortgages.....
 
I logged in this morning wondering where the fuck is my news, DIACF really let me down today. Im glad seventhcircle came through, now I just need something from sgt baker to balance my day out
 
what a worthless bill

the only people that are happy about this are those that say "AT LEAST WE DID SOMETHING"
 
So they have a bunch of guys "monitoring" and "supervising"...which is different than what we have how?
 
I will be interested to hear the arguments from the right against this. I want to see how they can spin this and rationalize how letting the same rats who economically fucked us should still be allowed free rein to run the same system.
 
Without risk there is no reward. You gotta spend money and take risks to make money.

OH WAIT MONEY GROWS ON TREES NOW.
 
Sure is, but when your bank would initiate the end of the modern world then it becomes everyone's business.
 
This is such a stupid statement. You clearly have no idea what a CDS or a CDO is and how and why they were created.
 
That is fine. But when enough banks do that and fail to the point that they drag the economy down and everyone else along with it, that then becomes the business of everyone. (Government.) This is not proactive legislation. It is reactive. The financial industry proved they could not self regulate. They proved that they are incapable of keeping their own house in order. Had they been able to do that or at least fail and not inflict massive collateral damage on the way down, this would have never been even debated.
 
This cannot all be blamed on people who got mortgages they shouldn't have. There is equal blame on every part in this chain. From the bankers who gave out loans to these people, to JP Morgan who compounded their losses by creating CDS's and synthetic CDO's...
 
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