Gawain 0 #1 June 25, 2010 The very vultures that regulated us into the mess are now going to fix it.... http://online.wsj.com/article/SB10001424052748703615104575328020013164184.html?mod=rss_Politics_And_Policy This takes the cake: QuoteGovernment-controlled Fannie Mae and Freddie Mac remain a multibillion dollar drain on the U.S. Treasury, and largely untouched by this proposal. But, QuoteTo pay for some of the new government programs, the bill would allow the government to charge fees to large banks and hedge funds to raise up to $19 billion spread over five years. So, that means higher bank fees or fewer services for the rest of us. In the end, the entrepreneurial spirit will be crushed: QuoteFrom the beginning, lawmakers opted against a dramatic reshaping of the country's financial architecture. Instead, they moved to create new layers of regulation to prevent companies from taking on too much risk. Meanwhile, after the deal was struck, look at this capture from Drudge, aside from Sen. Dodd's idiotic comments, why is Rep. Frank pulling up his pants? Edit: let me fix that attachment...whoops! So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
funjumper101 15 #2 June 25, 2010 What can you expect when the rescumlicans that got us into this mess masively watered down and weakened the bill? A better outcome? The folks that support the rescumlicans don't care. As long as the "socialist" administration is stymied at every turn, all is good with the world, even if it ruins the country. We aren't going to get anything even close to what is needed. There is too much money in play, and zero concern for the good of the country. Allow me to point out the obvious - all of the politicians are deeply in the pockets of big business. They have to be, To run a campaign, all of the scumbags have to raise about 25 thousand dollars a day, on average. The average is going to increase as dirtbags like Meg and Carly buy their way into elections with their own money. We get the government that we have because most people are very gullible. The same assholes and techniques that sell soap and automobiles sell politicians. We get what we deserve as we are letting it happen. Quote Share this post Link to post Share on other sites
turtlespeed 221 #3 June 25, 2010 Quoterescumlicans You are wanting people to take you seriously? I didn't think so.I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun Quote Share this post Link to post Share on other sites
wmw999 2,461 #4 June 25, 2010 Yeah, it's no more attractive than demokkkrats, libs, "stupid libs" repubicans, or anything else, is it. Wendy P.There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
turtlespeed 221 #5 June 25, 2010 QuoteYeah, it's no more attractive than demokkkrats, libs, "stupid libs" repubicans, or anything else, is it. Wendy P. 100% agree. I don't think I used those kind of terms very much, but have since stopped for this very reason.I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun Quote Share this post Link to post Share on other sites
Gawain 0 #6 June 25, 2010 If we thought banks weren't lending now, wait till this goes into effect.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
turtlespeed 221 #7 June 25, 2010 Quote If we thought banks weren't lending now, wait till this goes into effect. Which in turn deprives the banking industry of more income. It's a good choice for fixing the financial industry.I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun Quote Share this post Link to post Share on other sites
airdvr 210 #8 June 25, 2010 Quote Quote If we thought banks weren't lending now, wait till this goes into effect. Which in turn deprives the banking industry of more income. It's a good choice for fixing the financial industry. Quote New-home sales plummet nearly 33% in May from April Sales of newly built U.S. homes collapsed in May, falling to a record low and stirring concerns among some economists that the housing market would stumble again now that a popular federal tax credit for buyers has expired. Not to worry...Barney will fix it. Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
kallend 2,032 #9 June 25, 2010 Right! Limits on the type of risky investments that precipitated the recession, more openness for derivatives trading, accountability for Moodys and other ratings agencies, limits on abusive credit card practices... I can understand why Repubicans would dislike these.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Gawain 0 #10 June 25, 2010 Quote Right! Limits on the type of risky investments that precipitated the recession, more openness for derivatives trading, accountability for Moodys and other ratings agencies, limits on abusive credit card practices... I can understand why Repubicans would dislike these. Derivatives trading is not wholly evil. It is trading of those derivatives that allows airlines to control their fuel costs. It is those derivatives that allows developers to maximize their returns on investments, et al.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
kallend 2,032 #11 June 25, 2010 QuoteQuote Right! Limits on the type of risky investments that precipitated the recession, more openness for derivatives trading, accountability for Moodys and other ratings agencies, limits on abusive credit card practices... I can understand why Repubicans would dislike these. Derivatives trading is not wholly evil. It is trading of those derivatives that allows airlines to control their fuel costs. It is those derivatives that allows developers to maximize their returns on investments, et al. Who said it was evil? All the current bill does is force it into the open, not eliminate it... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Gawain 0 #12 June 25, 2010 QuoteQuoteQuote Right! Limits on the type of risky investments that precipitated the recession, more openness for derivatives trading, accountability for Moodys and other ratings agencies, limits on abusive credit card practices... I can understand why Repubicans would dislike these. Derivatives trading is not wholly evil. It is trading of those derivatives that allows airlines to control their fuel costs. It is those derivatives that allows developers to maximize their returns on investments, et al. Who said it was evil? All the current bill does is force it into the open, not eliminate it No, it disallows banks to use their, or a customer's money in the process. Now they're going to have to spin off separate companies. As the article noted, it's creating an extra layer of regulation to discourage the risk taking. That will trample innovation on the cutting edge and slow the path of innovation. Even Warren Buffett was not looking favorably at this legislation.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
