Actually it's vote AGAINST the unamerican republican terrorists. Moral majority my ass. These terrorists ( let's call them what they really are ) make up less than 20% of the population.
Yes, a trial, BUT not with the bullshit of today's "trials" - nobody is exempt from being on the jury - there is no escape from jury duty. The "burden" is NOT "beyond a reasonable doubt," but "justifiably believe"...one of the assholes who promoted NINJA, etc...who received a check for making such a loan..good riddance - no long drawn out trial...if the general public justifiably believes (based upon evidence) that such an asshole benefitted from fraud...that ultimately caused a systemic problem...say your prayers asshole!!!! (that goes all the way to the top - to the assholes who purchased these loans, to the assholes who packaged them and sold them off (as CMBS/CDO/etc.)...to the presidents/CEOs etc. who profited from them - "Society has deemed that it is better off without you...torturer and executioner, please do your thing..." -gastropod
Unless true despair, like total financial system meltdown takes place, there will be no meaningful reforms. Just few bandages. By avoiding collapse, we avoided new system. Wether this is good or bad, who knows. Probably good in short term. Imagine all these crowds that realize that their savings, 529 and 401k are gone. Now we have Fed, who takes MBS that have little value in full face as collateral, and with suspension of mark to market, it is pretty much up to CEO to decide if their firm paper losses value. Totally ridiculous, but hey who cares as long as American Idol is up an running. So far, Obama behaves very pro market.
When you regulate something you have lobbyists all over DC payng off Congress to get special treatment for their company. When some companies get special treatment it unlevels the playing field. If unregulated no reason to waste money on Congress.
True... but when left completely unregulated then the big players control the game. Do you want GS to manipulate and legally corner the market? Manipulating the market was legal before the Great Depression. That's how the Kennedy family came to fame. Mr. Kennedy and his Wall Street insiders (Old Guard) organized pools to corner other traders in their positions.... Mr. Livermore played this game too. How is that manipulation fair for traders like us who spend time on ET? How would it be fair if insiders of a company traded before certain news went public? I'm all for a free market, but some regulation must be in place to ensure fairness.
I think there was plenty of of banks and the like, perfectly willing to to play in this 500 trillion + dollar market.
Yea but few where actually "speculators", aside their prop divisions. IBs generally tried to capture spreads, make markets in all sorts of products and make small profits... they assumed they were well hedged but unfortunately their "control risk" mathematical models blew up eventually. I'm just saying that without regulation, the biggest banks would just manipulate and devastatingly corner the market.... way worse than just capturing spreads, some insider trading, flash trading, etc. that we see now.
incorrect thesis. lobbyists are irrelevant if elections were taxpayer funded. whoever pays, dictates. Capitalism 101 without regulation. Vampires abound to fleece the herd. Capitalism 102
You are right, I should have added all to the ultimate benefit of the biggest player on the street who are suffering from too much competition from hedge funds and large traders right now. Watch for a PDT type reg that captures those with account sizes under maybe $10-100M.