Comments on: NEW BANKING REGS A BOON FOR MAIN STREET

By: Dee

Dee — Mon, 25 Jan 2010 12:58:58 +0000

I don’t know about trying to take over the auto and banking industries, but we have begun the long walk back from 30 years of mindless deregulation in the banking and financial industry…and the next thing should be the reversal of the disasterous trade and tax policies that have almost completely destroyed American industry and all of the jobs that went with it. Dee

By: Locomotive Breath

Locomotive Breath — Mon, 25 Jan 2010 12:24:08 +0000

There are no banks that are too big to fail. They should have been liquidated as allowed for in bankruptcy and all the executives fired. It would have been painful but we’d be done talking about them by now and moving forward. Same with GM and Chrysler. Instead we’re going to have zombie banks and auto manufacturers with more and more federal intervention.

I remember when Moran tried to convince me that the federal government under Obama was NOT trying to take over the auto and banking sectors.

By: JerryS

JerryS — Sun, 24 Jan 2010 20:49:27 +0000

Neo -

When Obama took office, the DOW Jones average was at 8218.22.

Today, it’s at 10172.98.

By my calculations that’s a one year return of 23%. Pretty good for an incompetent idiot.

You have to do better than put out a fact that is easily refuted when put into context. Anyone worth a damn knows the stock market goes up and down on a daily/weekly basis, and what matters is the trend.

Take a look at the one year trend here: http://www.google.com/finance?client=ob&q=INDEXDJX:DJI

By: Eno

Eno — Sun, 24 Jan 2010 17:14:49 +0000

I’ve got to agree with Rick on this one. Some form of regulation along the lines of the original Glass-Steagall Act(s) is necessary. But Vic’s point about this very corrupt administration figuring out how to line their pockets is frightening. Obama’s fees on some, but not all banks is almost a bill of attainder.

By: Neo

Neo — Sun, 24 Jan 2010 01:57:00 +0000

If only Obama could learn a little tact.
Scaring Wall Street and driving the market down 5% in 3 days with an announcement that could have been delivered in a more diplomatic manner only reinforces the view that the President is an incompetent idiot.

By: Mike Giles

Mike Giles — Sat, 23 Jan 2010 17:40:47 +0000

As I understand the Bank Bailout,the majority of banks were in no trouble and were required to take the money so as to not single out the Bank(s)that were weak. Further, the weakest big bank was Citi Group - formerly run by Democrat insider Robert Rubin. The banks have paid back the money - with the exception of Citi Group. You know, if I were a suspicious soul, I’d believe this entire bank bailout dog and pony show, was a bailout of the Dems old friend at Citi, disguised as a general bailout. But perhaps I just have a suspicious mind.

Question? Are the Banks risking their money in Hedge funds, the depositors money, or a combination of both?

By: Dee

Dee — Sat, 23 Jan 2010 04:07:43 +0000

#5:”simple economics” indeed…
You may want to look at:
The Depository Institutions Deregulation and Monetary Control Act of 1980, signed into law by Carter.
The Depository Institutions Act of 1982, signed into law by Reagan.
In 1988, the Basel Accord, Reagan.
U.S. Commodities Futures Trading Commission (CFTC) of 1989, and the exemption of swaps and derivatives from all regulation.
(…a Phil and Wendy Gramm production). Mrs. Gramm later went on to a seat on the Enron Corp. board as a member of its audit committee.
1998, Glass-Steagall and the Bank Holding Company Act of 1956 were scrapped by the Gramm-Leach-Bliley Financial Services Modernization Act. (Travelers purchase of Citibank played a role here).
Then in 2004, the SEC ruling on investment banks and determination of net capital.
You could also look into the deregulation of the S&L’s in the late 70’s and 1980’s, the S&L failures of the 80’s, Enron, and start adding up what all of this deregulation has cost the American taxpayers in the last 30 years. It’s a little complicated, but it’s all right there…draw your own conclusions. Dee

By: Richard bottoms

Richard bottoms — Sat, 23 Jan 2010 02:41:09 +0000

Given that guessing wrong would have meant financial Armageddon, the high flying crooks making out on the way up and the way down with just have to be something we live with.

Only the most shrill Republicans think Obama came into office wanting to own General Motors. Just as that same shrill contingent believe the banks have been nationalized all according to some super-secret socialist plan.

Must be lonely being a voice of reason.

By: AHL announces suspension « Ahl News | San Antonio Rampage AHL Announcer

AHL announces suspension « Ahl News | San Antonio Rampage AHL Announcer — Fri, 22 Jan 2010 23:46:55 +0000

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By: busboy33

busboy33 — Fri, 22 Jan 2010 23:05:45 +0000

@brooks:

Sure, its simple ecconomics —

Utterly unregulated capitalism = good
Any limits or control over the market = bad

See? Simple as pie. Not practical. Or viable. And guaranteed to end in a metaphorical mushroom cloud as history endlessly proves time and time again . . . but its simple. You can’t deny that.