“At the G-20 meeting, Bush agreed to subject the Securities and Exchange Commission (SEC) and our other regulatory agencies to the supervision of a global entity that would critique its regulatory standards and demand changes if it felt they were necessary. Bush agreed to create a College of Supervisors.
According to The Washington Post, it would “examine the books of major financial institutions that operate across national borders so regulators could begin to have a more complete picture of banks”operations.”
Their scrutiny would extend to hedge funds and to various “exotic” financial instruments. The International Monetary Fund (IMF), a European-dominated operation, would conduct “regular vigorous reviews” of American financial institutions and practices.
Well...this is fine can of worms...WTH?
Leave it to an ex-Democrat to speak the truth about George
Using scare words like "socialist" or "communist" just get people to tune out from the message.
We need to talk about our moderate welfare state versus Europe's overarching welfare state.
I know its not that jazzy as hyping up fears of socialism, but it is closer to the truth and I believe more effective in the long run.
We need to have a series of commercials similar to John Stossel's comparison of life in Europe vs. life in America: we have bigger homes, cars, fridges, washers, etc. We are living larger than them with more employment, etc. I believe that would be a more effective message in the long run.
Whatever. American banks have spread cancerous zero value paper crap all over the world. You can hardly blame the world for being mad about it. And it’s pretty obvious they want to regulate things because the USA has completely dropped the ball. I guess the alternative is that we become a pariah nation like Argentina.
The IMF is not all that European controlled, either. The US has a lot of clout there. We have 371,000 votes. England has 107,000, France has 107,000. Etc.
Votes are based on contributions.