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| User Info | BILL BLACK'S PROPOSAL FOR "SDI"s in forum [Ticker] | |||
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Genesis Posts: 71400 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1462-B....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-09-23 13:02:31
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Themortgagedude Posts: 3930 Incept: 2007-12-17 
saint louis
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I guess this time they might threaten him again if he doesn't drink his steamy mug of STFU.
---------- "These are interesting times. We don't trust the government, we don't trust the legal system, we don't trust the media, and we don't trust each other! We've undermined all authority, and with it, the basis for replacing it! It's like a six-year-old's dream come true!"
2009-09-23 13:11:52
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Tesla Posts: 8174 Incept: 2008-04-03
Delaware
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Quote:A bank that is too big to fail is too big to operate safely and too big to regulate. He's proposing to regulate "SDI" banks until they're smaller, but says they're too big to regulate ?  Seems...wrong.What he should call for is for them to be put into receivership UNTIL they're small enough to NOT be SDI. We already know there isn't an honest regulator anywhere around, and certainly not one that uses enforcement of any kind. Why do people still call for more regulation in this environment ??? ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-09-23 13:12:43
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Risingcream Posts: 2541 Incept: 2007-09-07 
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He is too late. To implement all or most of his proposals will take a revolution.
---------- Civilization...ancient and wicked. --Subotai The trees in Siberia are miles apart, that is why the dogs are so fast. -- Bob Hope
2009-09-23 13:18:39
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Pika-steph Posts: 39196 Incept: 2007-09-11
^Why I keep^ fighting; so he is not fighting for nothing. Online
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Heh. Thought you'd like that one. 
---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org  "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards."
2009-09-23 13:20:35
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Asimov Posts: 26672 Incept: 2007-08-26
east tennessee Online
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A few of his requirements seem almost malicious in intent (understandable) but in general it sounds damn good.
---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-09-23 13:29:47
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Imaboomerdropout Posts: 163 Incept: 2009-09-13
NY
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I believe that everyone from the President, FED, Treasury, Senate, Congress, FDIC, and the SEC, knows exactly what they are doing. They know they are breaking the laws of our country and use the excuse "If we don't do this, the country will immediately fall apart". Most are in too deep now to start blowing the whistle to the masses. That's exactly what we need now though. A group of Patriotic Congressmen and Senators to form a coalition and go before the people of the United States exposing this entire charade. The smartest economists in the world have spoken out to no avail. This coalition is our last hope. Glen Beck put out a call for 56 of them to come to the defense of our nation and constitution. He got one that night. Haven't heard any updates but a coalition of one won't do it. If any of you Congressmen or Senators read this board, PLEASE be an American hero and come to the aid of your country. You surely will go down in history as one who saved, or tried to save the U.S.A.
2009-09-23 17:24:22
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No1ninja Posts: 52 Incept: 2009-08-19
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Great ticker, but asking the institutions that have gained a crippling control of the political system and its media henchmen, to politely not get any bigger, and in turn look for ways to downsize, is a little humorous. Do we expect the people to have say in this? Did they not say with 98% certainty that they wanted no part in the bail outs, what happened? Until some of those directly responsible get strung up by their balls they will continue to think that they are bigger than this country. Why shouldn't they? They are above the law it seems, too many zero's for the guys in blue to understand the crime, or they are just too scared to go after the REAL criminals as they know they will be arresting those 'above them not below them'. Last modified:
2009-09-23 18:16:57 by no1ninja
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves. Online
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How come we can't apply all those points to the Federal Reserve? Or are they too big to understand?
---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-09-23 18:05:30
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No1ninja Posts: 52 Incept: 2009-08-19
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As long as these institutions have the ease to buy the political system, nothing will change. We can pass all the laws we want, but they will slowly pry off the restraints when the system stops looking in their direction. Their only motive is profit, America is a distant second. Where there is money, new scum will always be found, that is why it very important to always see what floats to the top and seperate it. Last modified:
2009-09-23 18:11:36 by no1ninja
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Mrgone Posts: 1688 Incept: 2007-09-15
As if anyone gives a crap
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I have long held that these types of restrictions should apply, but to ALL corporations. I would add at least one more, market share with the exceptions for publically sanctioned monopolies like power, water etc. After all, the history and status of the "corporation" implies that it exists for the public benefit. I’d also like to see another, which is that corporate crime has equivalence in light or their so called “personhood.” That is to say if the penalty for killing someone is 5 to 10, then the corporate charter should be REVOKED for a commensurate time. This business of fines and other monetary penalties, ethics training etc is not a deterrent. Hell, the true culprits aren’t even held accountable, the stockholders have to pay the fine. Either this or the CEO or other corporate officers responsible should be tried in criminal court. If the corporation is indeed a person, then the penalties should be the same. I would bet the corruption and wrongdoing would fall precipitously if that kind of “true” justice were imposed. ---------- “I hope we shall... crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country.” — Thomas Jefferson, 1816 Sorry about that Tom
2009-09-23 18:13:28
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No1ninja Posts: 52 Incept: 2009-08-19
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What if we had a system that only represented people? Why should a corporation, that does not breathe or die, or get sick, or face a death tax have the same access to the laws that a person does? What if corporations were stripped of their powers. Hence if they wanted say their representation has to be done so by the employees they employ and the partnerships they make with other organizations employes. Hence if a company has a large work force and happy employees, they have more political say due to the obvious support. Suddenly, there becomes a need to be a nice guy with J6P. The masses all of a sudden are partners in the achievement of goals, not obstacles that need to be downsized or steamrolled. It actualy becomes in your best interest to educate them and keep them healthy. Companies, that don't have large workforces, can always take their campaigns to the media and hope that the public will support them.... but NO ACTION CAN BE MADE without a company gaining public support. Last modified:
2009-09-23 18:32:52 by no1ninja
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Steelhead23 Posts: 387 Incept: 2008-09-09 Portland OR
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http://www.bloomberg.com/apps/news?pid=2.... Bank for sale - cheap. I put this in the thread regarding WaMu/Wells Fargo. Friends, this is getting really dangerous - to be perfectly clear, the FDIC is damn near broke. The low level of capitalization of the FDIC trust fund is causing OTS to look the other way when a large banks' capital falls below 8% to avoid padlocking the doors and paying out on deposit insurance. Instead, they warn the bank to improve its reserves and the bank does stupid things (like brokered deposits that pay out more than the bank earns on those deposits) that are in fact making things worse, not better. So, when FDIC finally does lock the doors, the banks liabilities have grown enormously and the FDIC suffers catastrophic losses. Frankly, Treasury should lend FDIC a couple hundred billion, Congress should kick Sheila Bair in the ass and every bank with assets valued (market value please) below 8% of liabilities should be closed immediately. Yes, every single one. This idiocy cannot continue. The nation can take the bitter medicine voluntarily or its creditors will shove it down its throat. That's the choice. William Black is right. Karl Denninger is right. So are a lot of other folks who have the courage to speak the truth. ---------- short em all - let God sort em out!
2009-09-23 18:37:02
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No1ninja Posts: 52 Incept: 2009-08-19
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The public, does not have problems with companies that do a good job and make things more efficient for them. Offering services. ...but the companies that mathematically try to maximize profit and lower services offered, are not using the motto of "We love to provide our expertise", instead their goals are, "We love to make money". Hence you have shysters, tapping the system for all its worth with their Harvard degrees of supply and demand economics. Not realizing that what your mother told you applies to companies too. Do not do what makes you money, but do what you love and are good at! Hence, no wonder if your economy is profit based, you will always find fools that want to surf the closest of margins and squeeze every bit of profit out... but that AS WE KNOW is dangerous!
2009-09-23 18:48:08
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Aaron Posts: 714 Incept: 2007-11-27 Los Angeles
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How about we just pass a law that says congress can't bail out businesses? Boom. Done. If a bank gets too big to fail and fails... **** happens. ---------- Now with 32-percent more trash-talk.
2009-09-23 18:56:53
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Mrgone Posts: 1688 Incept: 2007-09-15
As if anyone gives a crap
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Aaron, I think you're missing the point. These "businesses" ARE the government. ---------- “I hope we shall... crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country.” — Thomas Jefferson, 1816 Sorry about that Tom
2009-09-23 19:00:18
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No1ninja Posts: 52 Incept: 2009-08-19
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BTW, I don't want slam the supply and demand concept at all, as it is the basis of thought when it comes to the economy. It's just that the explanation to the average student of how that system works is a little too cheerful for my liking. Take oil for instance, they would like you to think that oil adheres to the principles of supply and demand. In a perfect system it would, and that would be ideal. However, the price of one commodity, influences the price of other commodities, therefore the real equilibrium of oil is only known once all other variables in its price change have been calculated. So ideally you would want it in a price range where it served the most benefit to the economy and its producers. However, the system is not this romantic. There are cartels, unions, collusion, laws, taxes and manipulation that intervene in the supply and demand of that one commodity. In fact the system is fraught, with schemes and obstacles that try to gain advantage for one side without looking at the real impact of supply and demand on the entire market. In fact the economy is better thought of as a river, and all these schemes are just irrigation ditches and channels, that can help distribution, but can also control it and monopolize it. Some can steal the current along the way and harness its energy for their own gains, without thinking of the consequences to those down stream. The problem is that the system is dynamic, and people will adapt to whatever measures are in place to make it more efficient. They will re-dig channels, and re-route the water. Some people are just born that way, profit at any means, who cares about the system. When a bank starts thinking that way, we get into the mess we are in now.
2009-09-23 19:18:24
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Greymulder Posts: 3 Incept: 2009-09-22 Solebury, PA
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Hey Karl and all, I, like all of you, have been trying to understand what is going on with the recent (and ridiculous) stock market rally; also rattling around in my brain has been a geopolitical tidbit or two that might offer a “macro” picture of what is going on in our market and our economy. Please bear with me while I briefly explain. We all can picture what “regular” warfare looks like. Some of us can even picture what a “cyber war” might look like. My Question: What if we are in the midst of an “economic war”, and the battlefield of this economic war is the stock/bond/currency/commodity markets of the world. It is obvious to most of us that the recent stock market rally is a product of some “manipulating hand”. The ultimate brains behind this “hand” are most likely the fed/treasury, and we have all speculated as to why, and debated the motives, reasons, and wondered about the “how” and “how long”, ... But what if the main purpose of this manipulation isn’t benign (towards anyone), but instead part of some hostile action between adversaries? Could the combatants be, say, the Fed vs. China Inc.? Could be these two, or some others ... As an aside, here is a tidbit: It is widely known that prior to the melt-down, the Chinese government owned A LOT of Fannie/Freddie paper, and it is widely speculated that the reason the fed/treasury bailed out all fannie/freddie bond holders in full was that they feared some Chinese retaliation. What kind of retaliation was most likely from the Chinese? Some have speculated that the retaliation would take the form of some hostile economic action. And this threatened action maybe begat a retaliatory reaction ... and so the war, undeclared mind you, was joined ... The main take-away point here: most of us are traders/investors in some or all of these markets, we are witnessing and trying to understand the “who/what/where/why” here, and this is one reason why we flock to your site, and to sites like it. So we are market players, but this is no longer a market; instead, it is a raging battlefield, and that is a totally different environment. AND UP TIL NOW, WE ARE STANDING UNPROTECTED AND BLIND RIGHT IN THE MIDDLE OF THE SHOOTING! If any of this is even partially correct, it would seem wise for any and all non-combatants to exit the battlefield. (and here I have questions: does “exit the battlefield” mean go to cash (and in what currency)?, commodities? ...) To sum up: This was just a thought I figured I would share, and it is probably not true, but it does explain what heretofore seems inexplicable ...
2009-09-23 20:45:38
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Antone Posts: 3820 Incept: 2008-02-03
This ain't your grandpa's depression.
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How is Goldman able to operate basically as a hedge fund as a "bank holding company"? They got an exemption, right? Shouldn't that be dropped now that things are swell again? Eh, nevermind I and we are all dreaming. Legal institutionalized grift is all the rage these days. The corrupt won't change their ways until there are riots on the streets and a collapsed system. ---------- Wir sind gefickt. I do not provide investing advice.
2009-09-23 21:08:41
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Mlshawaii Posts: 466 Incept: 2009-05-13
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10. A ban on lobbying any governmental entity ------- IMHO, #10 alone would be a great start. Unfortunately, it's also the #1 reason why nothing will be done.
2009-09-23 21:19:47
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Antone Posts: 3820 Incept: 2008-02-03
This ain't your grandpa's depression.
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Mlshawaii, EXACTLY!!!
---------- Wir sind gefickt. I do not provide investing advice.
2009-09-23 21:20:26
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Raingod Posts: 1067 Incept: 2008-08-29
Tastes Like Chicken
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Can we get him to run for Congress?
---------- I have even intermittenter access than I did over the summer. No idea when I can check in.
2009-09-23 21:20:58
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Judgesmales Posts: 1962 Incept: 2008-02-05
Las Vegas
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Loved this segment of Black's plan:Quote:The Treasury has fundamentally mischaracterized the nature of institutions it deems “too big to fail.” These institutions are not massive because greater size brings efficiency. They are massive because size brings market and political power. Their size makes them inefficient and dangerous. ---------- "The tradition of Festivus begins with the Airing of Grievances. I got a lot of problems with you people! And now, you're gonna hear about it." -- Frank Constanza "What we obtain too cheap, we esteem too lightly; tis dearness only that gives everything its value." -- Thomas Paine
2009-09-24 05:24:47
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Tesla Posts: 8174 Incept: 2008-04-03
Delaware
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Quote:These institutions are not massive because greater size brings efficiency. They are massive because size brings market and political power. Bears repeating, over and over until every person understands it. It's the same reason why unions are pretty much concentrated in large corporations and the government. Big matching big; the small get crushed. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-09-24 07:30:26
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Tamparick Posts: 25 Incept: 2008-09-15
Tampa, FL
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There is another bubble forming that will surely depress prices in the more in the near/mid term. A huge amount of properties sold in Florida are being purchased by foreigners. Many of them are from Argentina and Venezuela, and other countries with serious economic problems. Just wait until we see the Argentinian Peso or the Venezuelan Bolivar devaluated by 50 to 100% (I give it a year or less). Thousands of these buyers will default on their mortgages at the same time. It already happened in the 1980's. And...who do think is doing a big share of the loans to these foreigners?: <b>Bank of America.</b>
2009-09-24 09:05:22
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