UPDATES: Financial Reform Bill Will Only Hasten Next Collapse Then, 10 Ways Dodd's Reform Bill Are Failing on Financial Reform
Thursday, April 29, 2010
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About Me
- Webutante
- United States
- I'm a southern Christian conservative with a degree in civil & environmental engineering and a passion for the truth of God's Word, writing, hiking, investing, fly fishing, cooking and the great outdoors. My favorite tech invention = spellcheck. There are no such things as rights without responsibility, a free lunch, cheap grace, man-made climate change, successful government engineering, or figuring out when life begins. We're hurling towards the abyss with only One Life-Line: it's not botox, a "living" Constitution, celebrity president, or making nice with our dark enemies.. Meanwhile, God gave us His Word, His Son, Grace Upon Grace, family/friends and the greatest country in the world to live--if we can keep it .Comments are closed but you can email me at: webutante07 at gmail dot com. Thanks for coming by and be sure to view this in the 'web' version at the bottom.
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1 comment:
This bill will be a mess now...dare we say a "shitty" bill.
What are the feds going to say when the next financial crisis occurs? Barney Frank will blame it on Bush and his fellow Republican Members. The Republicans will blame Obama, Frank and Dodd. The liberal wing of the Democrat party will blame Wall Street...again. Republican Senators will remind everyone that they tried to alter this bill.
They are all whistling past the grave yard as the capital markets have been fundamentally altered, not by legislation and regulation, but by innovation on a global scale. For the first time in investment history all the talk about globalized markets, and exotic investment instruments is actually true. A very calm and reason Judd Gregg made this point a few days ago.
What are all these dinosaurs going to think when every American with a trading account opens an off-shore account. Can we say flight of capital campers?
The real trend that's being masked by the credit crisis is that even the smallest hedge funds, active traders and wealthy investors can mimic all but the most advanced trades.
On the other end of the scale, TBTF is really code for TCFWTU...Too Complicated for Washington to Understand. The only thing that will force Washington to start learning about financial markets is when no one shows up to buy Treasuries and Agencies...which is probably the next crisis.
morons...
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