WIN WIN WIN: Senate passes Financial Reform Bill

  • Thread starter Thread starter seventh circle
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I was thinking about the guy who works at the SEC who called out sick one day but actually went fishing.
 
Seventh Circle wants another government agency? Say it isn't so! And they'll be fiddling away while Rome burns again, just like the Securities and Exchange employees surfing porn instead of doing their job. We already have agencies in place to deal with this. Creating another BS agency isn't going to do jack.


This I agree with. Trading "real" things is one thing. Trading made-up bullshit and bets against the very real things you're also selling is wrong.


Not yet. FNMA and FHMC are still government-run pseudobanks and are still sucking lifeblood from the economy. GSEs shouldn't even exist. Government needs to stay the hell out of private enterprise. It's a clear conflict of interest, as we're seeing here.


And of all this back-patting of "financial reform", all the government had to do was not steal my money to give it to the rich banksters in the first place, and the reform would be unnecessary.
 
CDOs had an average of 70% sub primes that were likely to default. I'd say that from 2003 to 2006 CDOs were mostly made up of sub prime mortgage bonds
 
So what's in this bill that's actually related to financial reform?

It's 1400 pages long. More trash?
 
They also sold synthetic CDOs which were bonds made up of 1000s of CDSs. This why the crisis was so big. They compounded their losses greatly.
 
Yeah, and Lehman didn't receive bailouts and is gone. The others (except AIG) have repaid their debt.

Who continues to need bailouts?
 
Fannie and Freddy got bailed out differently then the rest of the banks. And their losses weren't close to the losses sustained by the private firms.
 
So we should dumb down bills because certain idiots don't bother to take the time to educate themselves on issues?
 
So, re; "Resolution Authority"...what guidelines are used to define 'failing'? That authority is ripe for potential abuse.

Or is it just a "backdoor" means to nationalize more companies? This Admin/Congress has done more to expand Federal authority than any other, period. And that is not a good thing.

I'm not against regulation, nor reform. But I AM against unnecessary and overbearing power grabs.
 
The SEC doesn't even have working copiers. We definitely need to bring back talent into that department.
 
You cannot argue against anything in this thread with out knowing what happened from 2000 to 2008. All the way from the signage of the commodities futures act up until the collapse of Lehmen.
 
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