Hereâs it is, 89 pages which promise to âmodernize and protect the integrity of our financial system.â A NEW FOUNDATION: rebuilding Financial Supervision and Regulation Bullet points: * Require that all financial firms that pose a significant risk to the financial system at large are subjected to strong consolidated supervision and regulation * Increase market discipline and transparency to make our markets strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions * Rebuild trust in our markets by creating the Consumer Financial Protection Agency to focus exclusively on protecting consumers in credit, savings, and payment markets. * Provide the government with the tools needed to manage financial crises so it is not forced to choose between bailouts and financial collapse * Raise international regulatory standards and improve international coordination http://www.financialstability.gov/d...E942=0&bcsi_scan_filename=FinalReport_web.pdf
Blah, blah, blah. Just more bureaucracy... more government.. We've had regulations and various regulators all along. What did they accomplish?
Agreed! They pick on small B/D's/RIA's as they will write a check to make them go away. The "big boys?" (aka: "Made-Off," BAC, GS, etc.,) they aren't competent to handle, nor regulate. Just what we needed, another big government agency...
At the rate Obama is going, we are all going to be working for the government soon anyway. Well, except for the "rich" who will be paying the taxes.
Actually that is what is needed to get the trillions of investment money off the sidelines and back into investing...
When I read that line my first thought is, everyone gets a trophy. No one fails, no one gets hurt, the market always go up. Low and behold I googled everyone gets a trophy and voila, I'm not alone in my thoughts. "Our Everyone Gets a Trophy Economy" http://www.realclearmarkets.com/articles/2008/10/our_everyone_gets_a_trophy_eco.html âThe ultimate result of shielding men from the effects of folly is to fill the world with fools." - Herbert Spencer
You mean credit default swaps and the $70 TRILLION in notional value were regulated and had a clearing house? You mean West Texas Intermediate crude oil was allowed to trade on ICE via London and Dubai with CFTC oversight and position limits? You must be living on a different planet than the rest of us.