Posted on 01/23/2010 9:41:01 AM PST by Ernest_at_the_Beach
The best that can be said for Barack Obama’s latest plan for financial regulation – banning deposit-taking banks from proprietary trading and capping financial groups’ market share of funding – is that it shows he now sees only radical policies can crisis-proof the financial system. But the claim that these ones will increase stability is misguided, if not misleading.
Being cut off from trading securities for their own book will not stop banks from putting insured deposits at risk. Their inventiveness in finding ways to lose money knows no bounds, and the most time-honoured money-loser of all – making bad loans – remains available. While it is bad to subsidise banks’ bets on mortgage-backed securities, is it worse than backing their bets on plain old mortgages?
(Excerpt) Read more at ft.com ...
Well his poll numbers are collapsing about as fast as the French did in 1940.
White House nightmare persists
***********************************EXCERPT*********************************
At the end of Barack Obama’s worst week since taking power a year ago, the US president’s fortunes look set only to deteriorate over the coming days. Following the shock defeat of the Democratic candidate in Massachusetts on Tuesday, a move that deprived the president of his 60-seat super-majority in the Senate and left his legislative agenda in tatters, Mr Obama has just four days to reboot the system.
The US president had originally delayed next week’s State of the Union address to Congress in the hope he would get his signature healthcare reform bill enacted in time. That prospect, already waning, was killed dead by the voters in Massachusetts. A growing number of Democrats believe the nine-month effort could collapse altogether.
And Mr Emanuel won’t be getting many lovely Valentine cards in Feb.....see #3.
Paul Volcker is a World Bank, CFR, Bilderberg, Lazard, Soros - POS. I trust Volcker as much as I trust Soros.
He was a decent Fed chairman when Reagan was Pres but the Fed is a scam.
fyi
Banks were forceds to make a lot of loans due to CRA lawsuits by community activists screaming racism to people who could never repay them. Obama and leftist goons were in Fannie & Freddie plus the very liberal evil Sandler’s at World Savings spewed out pic a pay mortgages then domped the bag of sh** on foolish Wachovia.
To use yet another WWII analogy Emanuel thought health care could be enacted in a blitzkrieg campaign. Instead it got bogged down in Russia and is freezing to death.
And, on a side note, I see that you haven’t floated away yet!
Virtually everything the government does is a scam. Scocial Security, Medicare, Medicaid, Earmarks, Farm subsidies, Health Care reform, Banking reform, etc.
The thing we call "government" is really just a tactic used by looters. It doesn't have to be that way, but that's what it is. There's too much money on the table for it to be anything else.
If the federal budget were mandated to be 4% of the GDP, then the government would be able to do those things which the Constitution says it must do, and nothing else.
Scott Brown was like the surrounded 101st Airborne at Bastonge telling the nazis (Kennedy machine) “nuts.”
Nice. Maybe we should reititle policitians to the more acccurate term of “looters.” Federal bureaucracies do nothing worthwhile or to create wealth for the country and it’s citizenry.
The left screams capitalism caused this. Wrong. Capitalism would have let banks fail and people lose homes to correct the demand supply equation faster causing less pain. Capitalism/free market would not put a gun to banks head telling them to lend to people who cannot repay or they would be sued and Jesse Jackson and ACORN would show up.
These people are so evil.
Supposedly the rational for new retulations is to prevent us from ever having to bail out banks because they are “too big go fail”. If that’s true, instead of creating a whole new bunch of regulation, why not break up the few biggest monster-mega banks using anti-trust laws? If not, let them fail next time.
Financial regulation,Enron anybody? regulation worked out so good for Madof too.
An interesting point in that regard is that, particularly in the earlier part of WW II, much of the transport was still horses, not mechanized. Reportedly, Russian horses could survive (if properly bundled up) to -54 degrees, the German horses started dying off at -18.
Led to no end of logistical problems.
Cheers!
LOL...It was close though...we even got a deluge on Friday.
Sun is out today but it was chilly last night and will be again tonight.
If Obama refuses to change course the analogy would be Hitler refusing to allow the 6th army to break out of the Soviet encirclement.
They thought the war would be all but over before winter came. Just like Obama never thought health care would still not be passed by the time of his second state of the union.
The Republicans can outflank zero by framing the debate as “comprensive financial reform” and demanding accountability for fannie & freddie. Make the dims sweat votes on that one. McCain is up for reelection. He could introduce a bill along the lines of his attempted reforms of years ago.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.