TheBrutalTruth
Well-Known Member
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/17/AR2009061701834.html
Apparently, in order to prevent this kind of crisis where the mismanagement of a few giant firms leads to a financial collapse -- Nevermind that at this stage it'd be more plausible to blame it on high oil prices due to traders trying to take advantage of the self-fulfilling policy known as Contango -- Obama needs to regulate them more.
Is he ignorant of the fact that Banking is the most tightly regulated sector of the economy? Is he aware that after 2001 the short-sighted regulations contained in Sarbanes-Oxley added billions of dollars worth of paper work onto the backs of the financial institutions?
More regulation? The last thing that is needed more regulation, what is truly needed is an investigation into the entire government and its corruption. Corruption that is self-evident based on how eagerly both political parties rushed to defend firms such as CitiGroup, Bank of America, JP Morgan Chase, Fannie Mae, Freddie Mac, General Motors, and Chrysler. Corruption that is evident in the fact that instead of landing on out of control corporations like the hammer of Thor with the Anti-Trust Regulations that are already on the books (Sherman Anti-Trust, et al.) the government has decided to turn an blind eye to the statements made by the supporters of the bail outs. That their pet banks, who bribe them most gratefully to get access to their influence, are too big too exist, not too big too fail.
Less regulation is needed, not more. What is truly needed is for the government to cut capital limits on the major banks so as to restrict them further in size so they can not wield the kind of corrupting influence seen during the last two years.
What is needed is for the giants to be divided into competing firms, and then allowed to sink or swim on their own. Instead of insisting on knowing every little detail and micromanaging the economy like overzealous supervisors the government should set out basic rules and enforce those. It not only would save the tax payers, corporations and government billions, but would also make it easier for new banks to form.
More regulation is the last resort of cowards, traitors and failures.
Failures, like Mr. Obama. In short, F is for Failure, not Fantastic, and the policies pursued by Obama, Bush and McCain are the policies of irresponsible failures that are clearly helping their fellow failures succeed at the expense of the taxpaying public.
In short, the government should strip the executives of their parachutes and then dare them to jump. The ones that are successful will soar into the sky of corporate finance, and the ones that are failures... well I'm going to spare you all the gruesome details.
Apparently, in order to prevent this kind of crisis where the mismanagement of a few giant firms leads to a financial collapse -- Nevermind that at this stage it'd be more plausible to blame it on high oil prices due to traders trying to take advantage of the self-fulfilling policy known as Contango -- Obama needs to regulate them more.
Is he ignorant of the fact that Banking is the most tightly regulated sector of the economy? Is he aware that after 2001 the short-sighted regulations contained in Sarbanes-Oxley added billions of dollars worth of paper work onto the backs of the financial institutions?
More regulation? The last thing that is needed more regulation, what is truly needed is an investigation into the entire government and its corruption. Corruption that is self-evident based on how eagerly both political parties rushed to defend firms such as CitiGroup, Bank of America, JP Morgan Chase, Fannie Mae, Freddie Mac, General Motors, and Chrysler. Corruption that is evident in the fact that instead of landing on out of control corporations like the hammer of Thor with the Anti-Trust Regulations that are already on the books (Sherman Anti-Trust, et al.) the government has decided to turn an blind eye to the statements made by the supporters of the bail outs. That their pet banks, who bribe them most gratefully to get access to their influence, are too big too exist, not too big too fail.
Less regulation is needed, not more. What is truly needed is for the government to cut capital limits on the major banks so as to restrict them further in size so they can not wield the kind of corrupting influence seen during the last two years.
What is needed is for the giants to be divided into competing firms, and then allowed to sink or swim on their own. Instead of insisting on knowing every little detail and micromanaging the economy like overzealous supervisors the government should set out basic rules and enforce those. It not only would save the tax payers, corporations and government billions, but would also make it easier for new banks to form.
More regulation is the last resort of cowards, traitors and failures.
Failures, like Mr. Obama. In short, F is for Failure, not Fantastic, and the policies pursued by Obama, Bush and McCain are the policies of irresponsible failures that are clearly helping their fellow failures succeed at the expense of the taxpaying public.
In short, the government should strip the executives of their parachutes and then dare them to jump. The ones that are successful will soar into the sky of corporate finance, and the ones that are failures... well I'm going to spare you all the gruesome details.