The argument "Clinton made to most severe mistakes by expecting everyone to "deserve" home ownership" (sic) is only made by members of the retard right Some banker somewhere had to approve the mortgage documents. Only the retard right make the feeble attempt to blame Clinton or anyone else for CROOKs and CRIMINALs getting away with fraud. back to Bush rot. Absent regulators, the crooks will play.
I have huge hope Obama wants to distance himself from his the previous two. If that's the case, and he wants to save his Presidency, he can try and undo what they did. Remember, Madoff visited Rich before he turned himself in. Rich/Clinton is well documented. That being said, if he squanders his popularity with this Communist Manifesto, he might not have the political capital to accomplish much. Mary Shapiro came from Finra where she made 4.5mm a year. I'm not sure she has the will to chase down Wall St. I hear good and bad about her. My hope is, they just disband the SEC altogether. They say, if that happens, who will protect the investor? I say, you didn't do it before, and you want to do it now? This has to be done now. If we come out of this , it has to be fair for all, at least to some degree. As it is, we're setting up a system so totally in conflict with itself, that it will implode. I have no desire to get a job; I wouldn't be able to find one anyway. Neither will you. Check this out. Sort of confirms what we've been saying. Remember the power of perception. If it stays like this, Obama can do what he has to, and vilify Bush. What ever it takes. So much is at stake. http://www.nytimes.com/2009/08/09/books/review/Barrett-t.html?_r=1&ref=business
"Then, in October 2008, Greenspan admitted to a House committee he had been, well, totally wrong: âI made a mistake in presuming that the self-interest of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders.â" This is kind of the crux of the argument for not just expanding the Fed to oversee risk, but having a larger group reviewing it. When an entire institution can be railroaded by one guy's philosophy without any alternate opinions that have any influence, we are back to the days of Monarchs and Kings where one man can decide the fate for all without consequences to himself.
Obama is trying to rectify a decade of BUSH-ROT. That's all he can do. When Bush left office, the only Mission he accomplished was the near total destruction of the American way of life. Bush along with his party of maggots and faggots went from pissing on the constitution to eliminating the middle class. If you want our kids to have a brighter future, we'll have to kick as many of these people out of office.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ateHbcBlMHp4 âThe word âPequotââ appeared in 45 referrals since 2005, Schapiro, 54, wrote in her letter to Grassley, according to a copy released by the lawmakerâs office that didnât include the list of referrals. The letter doesnât characterize the reports or Pequotâs involvement. The spreadsheet obtained by Bloomberg shows 44 referrals linked to hedge funds managed by the firm. " So, why the performance? Who got hurt while Art banked the profits? Who was served? Why? SEC must be demolished.
.......................................................................... Good post....SEC Secure....our Employees Compensation For many years the SEC has been a revolving door for higher paying govt. to corp. jobs....resulting in the protection of the larger firms.....hence the dire consequences of legal largesse so massive such that any form of justifiable complaints are cost prohibitive and too timely.......basically impossible.... A simple example ....Arthur Levitt....now works for Bloomberg, GS....etc....from the SEC to money.... ........................................................................... Also what may be useful is the defragmentation of the exchanges....ie the BATS model.... An electronic exchange is just a time stamping label changer....and should be a utility type service....at a very low cost.... An exchange should be a nongameable direct access highway for price discovery with relevent, common sense regulations.... A new form of a "utility type" defragmented exchange....along with regulatory common sense relevence should replace what is currently utilized....All events would be in view....
http://online.wsj.com/article/SB125047236827035711.html?mg=com-wsj See the "Caymans Island" reference. Mr. Hedgie, if you did this, and many of you did, and you used the Caymans - Swiss connection, I have a much brighter future than you.