http://www.cnbc.com/id/38362939?__source=yahoo|headline|quote|text|&par=yahoo
http://finance.yahoo.com/news/Structured-Asset-Trust-Unit-bw-642706245.html?x=0&.v=1
The question is, is the exercising of the "Call" on the Bonds tied to what Financial Reform has done?
Are looking at a major error in the the Financial Reform Bill?
Will they fix it, or will the bond market and the bond agencies flounder and drift until this is addressed?
Government of the People, by the Morons.
Screw the Obambi Marxists...
Collins ,Snowe, and Brown probably vote for this too.
Could Ford not sell its Bonds in an overseas market and ignore the US security laws? Methinks raising capital may easily slip offshore to the great detriment of NYC. Is this another unintended consequence of nannyism? Is there some law that requires capital raised by US firms overseas to be handled by the moneychangers in NYC?
ain’t it sweet, they called it an ‘impasse’ instead of a Dodd-Frank, Obama screw up...
And just think what healthcare will be..
One can assume that the immediate shutdown of the US economy wwill be accomplished by this bill, which is like a “kill” button.
All credit and bond markets function on issued ratings. If ratings are not issued...everything stops. Ratings ARE NOT being issued!! Right?
Extend beyond the bond and credit markets to the insurance markets. No CONSTRUCTION PROJECT, not 100% financed, can be originated or continue without INSURANCE, and, no insurance can be issued without bond and credit ratings.
Result....economic shutdown...period. NO?
The link below is an extended analysis with further links to even greater in depth details of the Dodd Frank crime against humanity....
here’s another bit:
Credit rating agencies panicking about legal exposure from financial reform bill
By: MARK HEMINGWAY
Commentary Staff Writer
07/21/10 3:53 PM EDT
Looks like another prime example of pass the bill to find out what’s in it:
Standard & Poor’s, Moody’s Investors Service and Fitch Ratings are all refusing to allow their ratings to be used in documentation for new bond sales, each said in statements in recent days. Each says it fears being exposed to new legal liability created by the landmark Dodd-Frank financial reform law.
The new law will make ratings firms liable for the quality of their ratings decisions, effective immediately. The companies say that, until they get a better understanding of their legal exposure, they are refusing to let bond issuers use their ratings.
That is important because some bonds, notably those that are made up of consumer loans, are required by law to include ratings in their official documentation. That means new bond sales in the $1.4 trillion market for mortgages, autos, student loans and credit cards could effectively shut down.
NO consequence is un-intended when it comes to the current gubment.
the Basel Committee, which is made up of central bankers and regulators from 27
countries, is the main body responsible for laying down global rules for bank
governance. But several countries have looked to impose their own restrictions
on the financial system, with differences over areas such as short-selling,
bonuses, derivatives and consumer protection.
This graphic explores the next round of reform proposals – Basel III – and their
implications for banks, and compares regulatory reform in the major financial
centres around the world. more what will america banks become
http://www.ft.com/cms/s/0/f58d854e-82db-11df-b7ad-00144feabdc0.html
I’m very glad this thing has the name Dodd-Frank on it so people will always be reminded who foisted this piece of garbage on us.
Glenn Beck channeled Boucheau yesterday. (Except for that part where he apologizes for being angry.)
A must see:
http://www.watchglennbeck.com/video/2010/july/glenn-beck-show-july-22-2010-big-brother-is-here/
Not to speak for him, but he seemed to elude that this problem will work itself out. I should be so optimistic...
Hannity, Morris Agree with Conspiracy People About New World Order
http://www.youtube.com/watch?v=5wH5YqsuZiw&videos=e7NS-0Z_9h4