Thursday, June 18, 2009
Reining in Wall Street (well, maybe not)
The business community seems OK with the Obama administration’s proposed revamping of the financial regulatory structure — which should give anyone looking to rein in the so-called “Masters of the Universe” pause.
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Sorry, at risk of enraging “Annony-mush”, regulations and regulators are the reason we have a problem. More regulations and regulators ain’t going to solve anything. The FED is at the root of the problem inflating the currency. Making them bigger and more powerful is like asking a the fox to “guard” the hen house. Can we at least AUDIT the FED to see what this private monopoly is doing to us for the benefit of the elite?
Never met anyone who needs a CDO? Try a homeowner who wants a low cost mortgage. CDOs allow a lot of them to be aggregated and sliced and diced.
Know any pension funds that need cash flow at very specific points in time? CDOs allow them to get that.
“We”, the collective sheeple of these United States, have made one mistake. We’ve allowed the congress critters and their bureaucrats fool us into thinking we didn’t have to watch them like a crooked dealer on the rube’s pay day.
Maybe we need less regulation and let things fail. Bankruptcy has a interesting effect on management. It puts them out of work.
“Too big to fail” is just “TOO BIG”!
Maybe the rule should be no ledgers with room for more than a 1,000,000,000.00 at the bottom line. That’ll make work for a lot of out of work regulators, bureaucrats, and congress critters.
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