Posted on 07/25/2014 6:33:20 PM PDT by tcrlaf
Something else you need to understand.
Putin is not, I repeat NOT and western style capitalist, any more then China is.
If he was, he would have cared about how his corporations have faired with these occasional flare-ups of his ego.
Hope you don’t own a Russian stock. They have been having problems for at least the last couple of years.
yeah, that the sad thing there with China.
After the Olympics, there has been a huge rush of western investment in China, hoping to cash in on the huge population. it is still going on to a degree, but much slower now as many investors find themselves totally screwed.
The Chinese have even nationalized the once western run accounting firms who do the audits.
“The Chinese have even nationalized the once western run accounting firms who do the audits.”
We’ve basically nationalized our banks, and already have government oversight of our auditors. We’re not enemies of Red China; we’re kindred spirits (at least our governments are).
“You’re making my point about how different it is, not the same”
Not sure what point you are talking about.
These various interventions were and still are proxy battles with Russia.
When two super powers use proxies to exercise their beefs with one another, they avoid going to a direct hot war.
That is the reason we have Cold wars.
I suppose one could make the case that the two powers should just get it on and do it! as opposed to screwing around with other countries.
But that’s neither for you or me to decide. Although I have often thought it might be better in the long run. But the cost to life and property would be really staggering.
So we do the proxy dance.
“I suppose one could make the case that the two powers should just get it on and do it! as opposed to screwing around with other countries. But that’s neither for you or me to decide.”
Sure, but in the meantime it is just theater on the biggest stage in the world.
What did Obama mean when he told the Russian PResident to wait until after the election, when he would have more flexibility?
No......we ain’t even on the same page.
And the bank nationalization has yet to occur. The regulators of the banks are supposedly independent as they reside in the Federal Reserve. they are also inspected by the FDIC. The FDIC is subject to Congress.
The PCAOB, and SEC regulate public companies and set rules for accounting practices but they are subject to congressional oversight.
The problems occur when Congress does not do it’s job or is in one party hands.
In China, the CCP or the Communist Party controls everything from soup to nuts...and they outright own the banks.
Didn’t our government force banks to take government money to put them under their control, then micromanage their lending, dividend, and bonus policies?
Remember when Bank of America was the butt of jokes, when it was pointed out they wouldn’t even have to change their name?
I believe the context of the conversation was that Russia is trying to get us to unilaterally reduce our stocks to get to some sort of parody with Russia. The problem is that Russia has never been open about all their programs and we don't have much chance of verifying what they say. (other than intelligence assets) and they killed most of those because they had spy's in our CIA and elsewhere.
No telling how many there are now or where.
Obama was probably thinking of his legacy. Because it's all about him. The Russians are looking for edge on a first strike capability. That is all they have pursued for decades.
Actually, it was not the Government that asked them to do that. It was the head of the federal reserve at the time.
The Fed is independent. They appear before Congress but congress cannot write a law the directly affects them, and party politics is supposed to be left at the door.
Does not always work that way, but that is what we have. Since 1917 or so.
One can argue pro and con about the fed. Not a good thread to do that here.
As to the micromanaging, again this is being done my Congress, specifically the Senate banking committee.
Their latest turd in the punch bowl is called Dodd/Frank.
I did not hear about it till long after I had retired, but I was in Germany from 80 to 84. Unfortunately for us, we were on the wrong side of the Rhine as well. It is scary. We did not have the proverbial clue what was going on.
I might add that is was congress that created the realestate bubble that blew up in 2008.
is=it....
time for some off the computer down time...
Sure did. That was great.
Find your posts to be very informative and have not read ahead (of this point) so maybe someone has already typed what am about to type. The bill drafted that created the real estate bubble was written by Barney Frank / Chris Dodd. Congress was control by democrats, and Frank/Dodd being democrats easily move the bill into law with the signature of Clinton(?) or Bush(?). That I would need to research but I believe Bush may have signed this bill making it law.
yeah...that was not the Dodd Frank bill but they were both involved in it back then. I can off hand recall the name but it was a effort to make more loans available to minorities.
It happened during the Clinton admin but was tinkered with some more under Bush. the Bush people objected to it, tried to tone it down, but it got through as it was for Minority and poor people to have a home they can call their own.
Unfortunately when congress writes a federal perk, everybody can access it, including the house flippers, investors and the local drunks.
The ratings agencies played a role by rating the loan packages triple AAA. The bad paper affected the entire mortgage capitalization market which was gleefully selling AAA stuff and the buyer flocked to it like lemmings. That in turn create pressure on the mortgage lenders to write more and more loans to anyone.
All that activity and mountains of money caused inflation in the markets, and then the bubble blew like a giant sized water balloon full of crap.
Everyone paid a price but congress. The original cause.
Okay, that brings the two halves of the story together. I knew one half, you had the other...which I did not know. Thank you.
By the way.....They have been back at it over the past couple years trying to repair the broken housing markets.
They will do it again, you can be sure of it.
Because they never really fixed the problem.
However the ratings agencies will not fall for it again. I heard some talk about the government taking over the ratings job because of the now lower ratings. They would raise it back up to AAAA....LOL
Now won’t that be peachy.
yeah...the dates and all match up with the first plane off the Russian line a couple years later Just in time for their bombs..They got the planes first, could not reverse engineer without the plans so they got the plans...
No problem for stalin.
He got it done..
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