RSS available
| MarketTicker Forums Read Message in Ticker |
User: Not logged on
|
| Top | Forum Top | Login | Control Panel | FAQ | Register | Logout |
| User Info | Senator Dodd's Bill - Copy in forum [Ticker] | |||
|
Genesis Posts: 71400 Incept: 2007-06-26 
KD^2 
|
http://market-ticker.org/archives/1609-S....
---------- "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
2009-11-10 14:01:39
Permalink | |||
|
Bezzle Posts: 3847 Incept: 2009-08-02 
Moonbat Patrol
|
Dodd wrote..Hedge funds worth over $100 million will be required to register with the SEC as investment advisers and to disclose financial data needed toFixed. You all just watch: This Dodd bill will become the biggest piece of micromanaging, business-killing tripe ever. (At least until the next bill.) ---------- Why would you try to stop this? A bond-market dislocation puts an instant stop to all the bull****. It is the only limiting factor left in this interventionist madness. It is an almost holy event. -- Christian Gustafson
2009-11-10 14:15:55
Permalink | |||
|
Solnow Posts: 829 Incept: 2009-03-02 My Market Model
|
Sounds like another job saved or created
---------- Adapt. Improvise. Overcome. HOPE is for sissies
2009-11-10 14:27:10
Permalink | |||
|
Asianbull Posts: 2184 Incept: 2007-09-03
|
These clowns couldn't even regulate FNM/FRE.
---------- The root cause of all the world's problems is inflation. The only sound money in the world is commodities.
2009-11-10 14:32:38
Permalink | |||
|
Arkady Posts: 123 Incept: 2009-10-19
|
How is a 1,000 page bill going to help? The premise sure sounds good, but it will be another boondoggle and will end up hurting the very people it set out to protect. Why can't we just go with the Sander's proposal and call it a day. They obviously cannot handle the FDIC, SEC, Federal Reserve or any other institution for which there are numerous laws - why would they be able to handle this? They want to create another board of regulators. Yeah ok, the Fed was supposedly created to usher in stability and avoid recessions/panics. Worked out great.
2009-11-10 14:44:38
Permalink | |||
|
Pcaldallas Posts: 279 Incept: 2009-03-02 
Dallas, TX
|
Sec. 115 is Interesting: SEC. 115. AGENCY FUNDING. (a) FINANCIAL STABILITY FUND.— (1) FUND ESTABLISHED.—There is established in the Treasury of the United States a separate fund to be known as the ‘‘Financial Stability Fund’’. (2) FUND RECEIPTS.—All amounts provided to the Agency under subsection (c), and all supervisory assessments that the Agency receives under sub section (d) shall be deposited into the Financial Sta bility Fund. (3) INVESTMENTS AUTHORIZED.— (A) AMOUNTS IN FUND MAY BE IN VESTED.—The Chairperson may request the Secretary to invest the portion of the Financial Stability Fund that is not, in the judgment of the Chairperson, required to meet the needs of the Agency. (B) ELIGIBLE INVESTMENTS.—Invest ments shall be made by the Secretary in obliga tions of the United States or obligations that are guaranteed as to principal and interest by the United States, with maturities suitable to the needs of the Financial Stability Fund, as determined by the Chairperson. This would open the door to transferring a whole lot of balance sheet crap from the banks to the US taxpayer if I'm reading the bill correctly.
2009-11-10 15:20:03
Permalink | |||
|
Genesis Posts: 71400 Incept: 2007-06-26
KD^2
|
Pcal, no. That is the same clause that is in The Federal Reserve Act Sec 14, along with virtually every other bill. If it is followed it allows for investments only in Ginnie Paper, along with Treasuries. It DOES NOT allow the buying of other paper including Fan/Fred MBS. IF THE LAW IS FOLLOWED, and in the case of The Fed, so far, it hasn't been. ---------- "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
2009-11-10 15:21:36
Permalink | |||
|
Tesla Posts: 8174 Incept: 2008-04-03
Delaware
|
We already have laws and entities to handle the TBTF banks - 1. Tier 1 capital ratios - if they fall below, FDIC takes over. Already law. 2. Mark-to-Market, no off-balance-sheet entities - anyone can understand valuations on the balance sheet 3. no bailouts - banks go to BK court like any other business whilst the depositors are protected by the FDIC and Tier 1 capital ratios. Already in place if they'd use it. 4. repeal the exemptions given the ratings agencies 5. repeal Gramm-Bliley (sp) 6. no 23A exemptions Am I missing anything ? OK, maybe force all swaps onto an exchange, and bring back Glass-Steagall. And shut down the Fed. Seems like a simple 2 page bill would solve the problem. ---------- "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
2009-11-10 15:28:13
Permalink | |||
|
Obseedian Posts: 8249 Incept: 2007-07-26
RIMM Central
|
"Hi. My name is Chris Dodd and I'm here to save you from the banks." ---------- Would you give your money to these banks? http://bankimplode.com/list/troubledbank.... Genitalia - Not just another Italian airline!
2009-11-10 15:49:34
Permalink | |||
|
Knobcreek Posts: 940 Incept: 2009-02-06
Near TN & VA, but not SC
|
I fail to understand why anybody feels anything is going to change BECAUSE of government bull****. For the good of the people or for the good of the nation? Why would the pigs change anything, real change, regarding the status quo? What fire has been lit under their ass, what fear do they hold to give up the power and vast wealth the present system and body of applied laws provides them. (applied vs what's written). Change will not come from within. Only an "external" force providing a high degree of fear, real visceral fear, has any chance of changing the path we've been on for a long time.
2009-11-10 15:52:55
Permalink | |||
|
Lurkn Posts: 707 Incept: 2007-08-27
|
sounds like more .gov to help solve all the previous .gov fails enough already 
---------- That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, STARVING THE BEAST & BLEEDING THE BEAST
2009-11-10 15:56:26
Permalink | |||
|
Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves. Online
|
Wait, Quote:Over the past year, Americans have faced the worst financial crisis since the Great Depression. Millions have lost their jobs, businesses have failed, housing prices have dropped, and savings were wiped out. I thought Bernanke, Geithner and crew saved us from the "worst financial crisis since the Great Depression"? They abuse language and terms for their own particular purposes. Disgusting. ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-11-10 16:14:48
Permalink | |||
|
Imaboomerdropout Posts: 163 Incept: 2009-09-13
NY
|
I'm kind of new here but been around (alive) quite a while. I'm not a genius, but not stupid either. Just an average J6P. If I never came here, I wouldn't know what laws were on the books concerning the financial entity in the U.S. So, to me, it would look like these laws are just now being created to protect me, J6P. Since I'm here, I know it's bull**** but to the millions like me before I got here, it looks like the government is doing something good. What's really scary is that THEY, TPTB, know all of this and their theatrics seem to be working at fooling J6P.
2009-11-10 16:17:12
Permalink | |||
|
Mlshawaii Posts: 466 Incept: 2009-05-13
|
Imaboomerdropout, Correct. They can (and might) pass all sorts of new legislation, but if the enforcers won't enforce (the SEC, the Dept. of Justice), then it won't matter. The one entity standing in the way of working things out is the government. I for one won't hold my breath for a government solution.
2009-11-10 16:52:11
Permalink | |||
|
Dji Posts: 719 Incept: 2009-04-21
Fleming Island Online
|
Dodd to TBTF banks behind closed doors: No problem Pigmen just put your bribes (I mean campaign contributions in the briefcase on the table) we won't prosecute or even regulate you anyways. I need to be re-elected next year and J6P will think I am helping his dumbass out and vote me back in! ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-11-10 17:27:21
Permalink | |||
|
Spurlockrj Posts: 9 Incept: 2009-03-08
|
Carl - we are definitely hosed. If you are actually willing to read Dodd's entire bill, my hat's off to you. I am hardly willing to read the highlights of the discussion draft. With thousands of pages of legislation in bill after bill who knows what the hell is really going on. There is little hope of things reverting to a responsible track. I stick with technical analysis, try to profit from the trends (what ever causes them) and look to buy a nice cabin in an out of the way place on a lake and watch it all go down from a distance till its time for me to leave.
2009-11-10 21:10:46
Permalink | |||
|
Financeguy Posts: 4945 Incept: 2007-08-10
Charlotte
|
These ****wads have no shame or fear..If you have any doubts about their hubris read this article in the New York Times. Amazing they would publish something like this....Barney will take care of things....Comforting. http://www.nytimes.com/2009/11/11/busine.... ---------- "Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua
2009-11-10 23:01:11
Permalink | |||
|
Ribbit Posts: 888 Incept: 2007-09-10 Wales, UK
|
Quote:Knobcreek:"Change will not come from within." Well, highly damaging change 'did' come from within, so it is entirely possible to 'unchange' from within. Unchange you can believe in? Also, it ISN'T 'government bull****'. Government is not the problem. It's POLITICAL BULL****, and it's POLITICS that's the problem! GOVERNMENT (along with the Rule of Law), is actually the solution. But all around the World, we somehow have to take our Governments and Societies back. eta: Sorry to keep harping on about this, but attention being put on Government rather than the true culprits, and blame being put on Government, is, to me anyway, no accident. There's nothing these unbelievable *******s would love more, than to get people that riled up with Government, that changes to Government are demanded. You can put money on how that'd turn out, can't you? ---------- Politics is just a shell game. Every time you pick a new shell, it always turns up empty. Last modified:
2009-11-11 05:38:10 by ribbit
| |||
|
Bagbalm Posts: 979 Incept: 2009-03-19
Just North of Detroit Online
|
To the public politicians ARE the government. Along with their local cops and the local city government canon polishers they see and deal with. The vast majority of government is off their radar screen and unknown.
2009-11-11 08:24:18
Permalink | |||
|
Allclear Posts: 4264 Incept: 2007-09-18
Online
|
Excuse my French...but **** Dodd!!! All of a sudden he has found financial religion, and has all the answers. It would serve him right to lose his relection campaign, if voters will wake up and realize Dodd IS THE PROBLEM. Now he's got his fancy dancy bill, which is basically another trojan horse or will never see the light of day (i.e., it will never have a chance for enactment). He sure is getting a lot of air time on TV. Dodd needs to go, and then Bawney Frank. There are plenty more that need to go. We need a good purging of these crooks. ---------- Many of the truths we cling to depend greatly on our point of view...Obi-Wan
2009-11-11 09:16:56
Permalink | |||
| Top | Forum Top | Login | Control Panel | Logout |