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Obama Moves to Restrict Banks
WSJ ^
| January 21,2010
| JONATHAN WEISMAN And HENRY J. PULIZZI
Posted on 01/21/2010 10:03:51 AM PST by Stayfree
The White House wants commercial banks that take deposits from customers to be barred from investing on behalf of the bank itselfwhat's known as proprietary tradingand said the administration will seek new limits on the size and concentration of financial institutions.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Government
KEYWORDS: banks; bhofascism; bhotyranny; democrats; obama; proprietary; restriction; trading
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Attempt to stop program trading could be circumvented by setting up separate trading companies.
1
posted on
01/21/2010 10:03:51 AM PST
by
Stayfree
To: Stayfree
This is like curing a headache by sending someone to the guillotine.
2
posted on
01/21/2010 10:05:25 AM PST
by
Rutles4Ever
(Ubi Petrus, ibi ecclesia, et ubi ecclesia vita eterna!)
To: Stayfree
And the stock market declines (at this point -223).
3
posted on
01/21/2010 10:05:29 AM PST
by
illiac
(If we don't change directions soon, we'll get where we're going)
To: Stayfree
Not going to happen. Perhaps it will LOOK like they don’t own the hedge funds, but they will still control them. What a joke. Such would almost completely dry up liquidity in the markets. This president is deliberately trying to break this country into pieces under his iron fist. Who in his/her right mind voted for this guy?
4
posted on
01/21/2010 10:06:24 AM PST
by
MeneMeneTekelUpharsin
(Freedom is the freedom to discipline yourself so others don't have to do it for you.)
To: Stayfree
Meanwhile Banks remain empowered to borrow at 0% and lend to us via credit cards at 27% . . . and many can’t figure out how to make a profit doing it.
5
posted on
01/21/2010 10:07:15 AM PST
by
Woebama
(Never, never, never quit)
To: MeneMeneTekelUpharsin
Agreed, but GS is still off $9.50 or 5.66%..
6
posted on
01/21/2010 10:07:49 AM PST
by
Stayfree
(</h1>)
To: Stayfree
The communist in chief is trying to achieve his goal - complete control of the means of production (see communist manifesto) a little bit at a time, stealthily, so that the mind-numbed public won’t catch on.
To: Stayfree
So, what will banks get out of holding people’s money? I guess they will have to start charging big fees for checking, etc. if all they are is a big storage facility.
8
posted on
01/21/2010 10:08:30 AM PST
by
Sans-Culotte
( Pray for Obama- Psalm 109:8)
To: Stayfree
so he bails them out but now punishes them
if this is not bizarre I don’;t know what is
9
posted on
01/21/2010 10:09:10 AM PST
by
manc
(WILL OBAMA EVER GO TO CHURCH ON A SUNDAY OR WILL HE LET THE MEDIA/THE LEFT BE FOOLED FOR EVER)
To: Leftism is Mentally Deranged
The @SS is about as stealthy as an elephant stomping on bubble wrap........
10
posted on
01/21/2010 10:11:53 AM PST
by
Stayfree
(Patriotic Americans United.com also operates The Obama Disaster.com!!)
To: Leftism is Mentally Deranged
“...the administration will seek new limits on the size and concentration of __________”
Fill in the blank.
11
posted on
01/21/2010 10:12:24 AM PST
by
Rennes Templar
("Though the wrong be often strong, God still rules this earthly throng")
To: Stayfree
I got 2 words for you Captain Zero, McCain - Feingold. You screw with big time with business there business will become screwing you big time.
12
posted on
01/21/2010 10:12:43 AM PST
by
hflynn
(The One is really the Number Two)
To: Stayfree
got 2 words for you Captain Zero, McCain - Feingold. You screw big time with business there business will become screwing you big time
13
posted on
01/21/2010 10:14:18 AM PST
by
hflynn
(The One is really the Number Two)
To: Rennes Templar
...the administration will seek new limits on the size and concentration of __________Fill in the blank with any word except "government" or "unions"
To: Sans-Culotte
>> So, what will banks get out of holding peoples money?
Well, instead of speculating with deposits, they could lend them back out to businesses that want to expand.
Unfortunately there aren’t so many of those right now.
This is why the Fed loose money policy is “pushing on a string”. All that low-cost money the Fed is lending to banks isn’t needed for loans — not only because banks don’t want to lend to risky borrowers, but also because there are fewer borrowers demanding loans.
So they invest “all that money” in the market (one way or another).
Instead of prohibiting banks from proprietary trading, the Fed should just stop pushing on the string. That ought to have the same effect.
15
posted on
01/21/2010 10:19:34 AM PST
by
Nervous Tick
(Eat more spinach! Make Green Jobs for America!)
To: Leftism is Mentally Deranged
Control the banks. Right out of the Saul Alinsky playbook.
16
posted on
01/21/2010 10:24:20 AM PST
by
MrChips
(MrChips)
To: Stayfree
17
posted on
01/21/2010 10:26:12 AM PST
by
onedoug
To: AdvisorB; antivenom; Blonde; BroJoeK; catnipman; Diana in Wisconsin; eddiespaghetti; Fintan; ...
![](http://t3.gstatic.com/images?q=tbn:0kSft4aLmHFSCM:http://www.bioteams.com/images/wall_street_jou.jpg)
|
To be added or removed from the "The Wall Street Journal" Ping List, FReepmail GOP_Lady. |
18
posted on
01/21/2010 10:32:41 AM PST
by
GOP_Lady
To: onedoug
How do like your Obama now, Warren?
To: Stayfree
from the article :
Over the fall, former Federal Reserve Chairman Paul Volcker, who head's the President's Economic Recovery Advisory Board, met several times with Mr. Obama to discuss his ideas to limit the reach of the big banks.
If Volcker is behind this idea it might have some merit but I guess we will have to wait and see.
20
posted on
01/21/2010 11:08:43 AM PST
by
Kid Shelleen
(Keep your socialized health care off my body !!)
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