Comments on: Wall Street vs. Main Street: The Regulatory Battle Begins Tomorrow

By: Regulatory Battles Have Been Present Throughout U.S. History

Regulatory Battles Have Been Present Throughout U.S. History — Tue, 15 Dec 2009 14:11:23 +0000

[...] effort to overhaul the financial regulatory system that led to the ongoing financial crisis, please click here to check out a related story that appears elsewhere in today's issue of Money Morning. That story – [...]

By: Is the Obama Administration's Financial System Overhaul Pushing Us Toward State Capitalism?

Tue, 15 Dec 2009 14:11:05 +0000

[...] The administration’s 88-page “white paper,” released last Wednesday (June 17), goes a long way in identifying most of the weak links in the regulatory chain that was supposed to protect America from a financial freefall. But, as always, the devil is in the details. [...]

By: Is the Obama Administration's Financial System Overhaul Pushing Us Toward State Capitalism?

Fri, 26 Jun 2009 08:31:02 +0000

By: Phil Steinschneider

Phil Steinschneider — Sun, 21 Jun 2009 20:52:07 +0000

The entire financial system needs to be rebuilt from the ground up. Unfortunately, no banker, regulator, or politician has the courage to do this. Instead, we’ll create new regulatory bodies that will try to fix the unfixable.

Existing government intervention has created one moral hazard after another and will continue to do so.

For example, Glass-Steagull wasn’t repealed in 1999; it was only modified in the worst possible way. It allowed banks to start taking foolish chances with depositor money that was guaranteed by the FDIC. Had the entire Act been fully repealed—FDIC protection and brokerage/bank separation—it’s highly unlikely banks would have gambled like they did.

At some point—and only time will tell if we aren’t already inches away from the precipice—a crisis will come along so terrible, and so enormous in scale, that printing money will not make it go away. Only then will there be ‘change we can believe in.’ Until that time comes, anything we do will be window dressing.

After all, we’ve learned nothing from this crisis. Things simply haven’t gotten bad enough—yet.

By: Jkrekotnev

Jkrekotnev — Sun, 21 Jun 2009 16:21:56 +0000

I enjoy reading the results any day of the week and the play by play. But we can’t keep saying change when we know where we live and what type of society we have adopted. Do we want to live in a Soviet Society. I don’t think so. Socialism is not anything that has ended up with any good from it. I’m not about to give my one and only vote for socialism and I am one for change, but, realistic change. If we were hoping for some other financial windfall from the election, we should have elected someone else with a more promising campaign slogan. Something more like, “give me liberty or give me death”, or voting for kennedy.

By: Jerry Evans

Jerry Evans — Sun, 21 Jun 2009 16:17:00 +0000

Change is upon us. We should have gotten it when we got the results of the election. We live in a capitalistic society and we have the right people in place to do the job now. Lets face it! It ain’t about to change any more than it already has………..

By: jerry evans

jerry evans — Sun, 21 Jun 2009 15:04:36 +0000

I didn’t expect anything other than what has already happened. Our economic system needs help and it looks like we got the right folks in the right office to fix our problems. I don’t expect our current financial system to be corrected overnight or do I expect a President to change anything during his less than 4 years in office without a panic audience stemming out of mutiny. Rob Lowrey, I agree with you 100%.

By: jkroketnev

jkroketnev — Sun, 21 Jun 2009 15:00:19 +0000

Change happened with the election. With that said, he is nothing more than a President that we elected and we should let everything else alone. There is nothing else we can hope for in change. So just forget it.Is anyone surprised out there! How could anyone believe that our current economic system, one that is built on capitalist ism, even begin to think that we could shift quietly into a socialistic society that doesn’t work to begin with.

By: rob lowrey

rob lowrey — Thu, 18 Jun 2009 18:01:54 +0000

Mr. Gilani,
Michael Ruppert’s (of “Crossing the Rubicon” fame) question that he reiterated many times in regard to solving the mystery of who and why certain parties aid and abet criminal activity was cui bono? In revising the tax code over the last 2 decades, federal and State revenues, in order not to raise taxes and thereby lead the citizenry to question the criminal activity in which the government at all levels has become partners to, are more and more derived from the very activity which the alphabet soup of regulators are supposedly paid to curtail.
Should they actually do their job, something most gov’t workers are loathe to do anyway, the monies to pay their salaries are cut off…they therefore will do everything in their power to pointedly NOT do their jobs (which, with Condi Rice and Bernanke as stellar examples, is the best way of getting promotions and raises). Nothing Obama has proposed will change that.

So if the answer to the question cui bono? is “The government”, then changing the government won’t (and quite obviously has yet to) help. The way the government derives its revenue is where the change has to be made. The shreds of the middle class will remain complaisant and passive until its THEIR money they see as being fraudulently abused. Like Wall St. as long as it’s OPM, they’ll settle for their fix, no matter who the dealer is, even if those “other people” are eventually their own children.

By: bootstrap

bootstrap — Wed, 17 Jun 2009 18:29:40 +0000

The FederalReserve is a cartel of authoritarian criminal elistists who earn money by printing it, and by feeding the beast (congress and administration) with an unending supply of counterfeit money without any limits whatsoever.

The FederalReserve and FractionalReserveBanking ***must*** be terminated, or everyone on earth will become slaves of the new world order criminal elites. This is serious!

And PS: this is an obvious propaganda counterweight to the RonPaul bill to “audit the fed”.