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04-06-2010, 06:06 AM   #1
graphicgr8s
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Too big to fail?

So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.?

http://www.csmonitor.com/Money/ThinkMarkets/2010/0319/Dodd-financial-reform-bill-goes-too-far

04-06-2010, 06:26 AM   #2
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So did you ever do any reading on the Big Crash George? Did anyone ever tell you how much Middle Class wealth was lost when your Fat Cats on Wall Street crooked away almost three Trillion dollars of American wealth from hard working families, some about to retire that lost everything because of their lies and scams? Anyone ever bring that to you attention George? Do you honestly think that the Fat Cats will now have our interest in mind in future decisions with our money?
Sure, I would love to see Wall Street and Giant Corporations regulate themselves, but it hasn't happened......at this very moment they are playing the same games that brought us destruction just a few short months back. Why don't you break free of that collar and chain and admit that your boys are crooks that need some tight controls to keep them from bankrupting our entire economy for their own greed....like they just did. You can regulate Government with your vote.......how is it you propose to regulate cut throat Wall Street hucksters by letting them regulate themselves?
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04-06-2010, 06:26 AM   #3
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QuoteOriginally posted by graphicgr8s Quote
So if this bill passes if the treasury determines a company is failing it can take it over and there is no legal options to stop it. So what industry will be next in line for government takeover? They've got banking, they'll have the entire financial sector without any chance for redress, they have healthcare, and they have major industry. Hmm, is Hugo Chavez leading the U.S.?

Dodd financial reform bill goes too far / The Christian Science Monitor - CSMonitor.com
All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer.
04-06-2010, 06:30 AM   #4
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QuoteOriginally posted by Parallax Quote
All utilities next, followed by (in order) food, clothing, petroleum. I put petroleum last as once they take it over there won't be an profit in it so individual politicians' personal income will suffer.
Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked.

04-06-2010, 06:41 AM   #5
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The Domino Theory is a nice scare tactic - if we allow (an argualbly reasonable) A, then B, C and D (all arguably unreasonable) are sure to follow. It however avoids looking at the actual issue, and goes straight to the lizard brain.

Another view of this lap-dog bill,
Op-Ed Columnist - Making Financial Reform Fool-Resistant - NYTimes.com

Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there.

Re. Lehmann, the financial sector is still working out and unwinding the various deals left over. To think that the government is able to step in and do so quicker, and with less market turmoil (read: large drops in prices as the stuff is sold, affecting the next bank and the next), is rather silly. Also, it is in those fat cat's interest to keep financials un-nationalized, so the teeth of this proposed "reform" are hard to see. The main benefit is that the people running these companies are mainly concerned with the size of their bonuses - it's the only way they can keep score on Wall St. - and any government intervention will make said bonuses vanish. Of course the thousands of people working for the financials, and not making the big bucks, will be out of work...
04-06-2010, 06:45 AM   #6
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QuoteOriginally posted by GeneV Quote
Most utilities and many banks have been largely run by the government for many, many years. There was some loosening of that in the 90s, but the jury is still out on how well that worked.
So the program is on track, then.
04-06-2010, 06:49 AM   #7
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QuoteOriginally posted by Nesster Quote
Of course, the current Prez isn't a constitution scoffer and power usurper like the previous one. But the danger is there.
You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.
04-06-2010, 06:54 AM   #8
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QuoteOriginally posted by Green_Manelishi Quote
You cannot be serious. The current prez (along with the moonbats Pelosi and Reid) is even more of a COTUS scoffer and power usurper than the previous president. But if you drink his KoolAid you'll follow him into death.


04-06-2010, 06:59 AM   #9
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Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank?
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
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04-06-2010, 07:07 AM   #10
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They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost.
04-06-2010, 07:21 AM   #11
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QuoteOriginally posted by Jodokast96 Quote
They can't take it from you if you don't give it to them. You do have a choice in that. Not so when it comes to paying the tax man. People gambled and lost.
And you'll put your money under the pillow, because it's safe there. Or maybe buy a couple of houses. But... wait! They can take money from you even if you don't give it to them. It's called "inflation", or, more generally, "devaluation of goods." Greed balloons.
04-06-2010, 07:24 AM   #12
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QuoteOriginally posted by Rupert Quote
................
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
Regards!
Geez, I hate it when you're right.
(fortunately it doesn't happen all that often. )
04-06-2010, 07:28 AM   #13
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QuoteOriginally posted by Rupert Quote
Apparently none of you guys read the part about the three Trillion in losses to mostly Middle Class Americans? Could it be that none of you had anything invested....like say your retirement funds? Have the Fat Cats promised you that "you are special", and they will put a mark over your door so as they pass by the next time delivering economic destruction, they will not come inside and empty your Piggy Bank?
It is not that these guys were crooks...it is that they ARE crooks, just lurking for another opportunity to strip us again. The kind of reform we need is not coming, the power has been removed from Govt by the Supremes and given to the Corporations and Wall Street........you guys will soon see how that works out for you. We no longer will elect politicians, they will just be appointed by the highest bidder....sort of like now, but on steroids.
Regards!
Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse.
04-06-2010, 07:36 AM   #14
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QuoteOriginally posted by Green_Manelishi Quote
Were any of these losses the result of the moron Bahney Fwank forcing banks to loan money to folks with no proven ability to pay? Of course, the banks then sell the risk to someone stupid, or greedy, enough to assume the risk because in their greed they are convinced they cannot lose and will make lots of $$$. The ponzi-schemers alsoo capitalize on the greed of "investors" who are looking for a "sure thing". There's plenty of blame to go around but the government is hardly the proper watchdog; that's like asking fox to guard the henhouse.

This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality.
04-06-2010, 07:45 AM   #15
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QuoteOriginally posted by Nesster Quote
This is an interesting take on what actually happened. Interesting, but not very reminiscent of actuality.
No banks made bad loans? No "investors" yielded to simple greed? No risk was repackaged and sold downstream? Oh, please.

Do tell what was the problem?
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