Collarspace Discussion Forums


Home  Login  Search 

House panel begins push on financial overhaul


View related threads: (in this forum | in all forums)

Logged in as: Guest
 
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> House panel begins push on financial overhaul Page: [1] 2   next >   >>
Login
Message << Older Topic   Newer Topic >>
House panel begins push on financial overhaul - 10/14/2009 10:39:45 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		House panel begins push on financial overhaul


WASHINGTON – A key House panel moved to tighten rules on previously unregulated financial instruments Wednesday, a long-awaited step toward governing the obscure and complex transactions at the heart of the troubles that befell some of Wall Street's most well-known financial houses.

.....Regulating derivatives is one of the elements of President Barack Obama's proposal for correcting the practices of banks, investment houses and other financial institutions that caused last year's economic collapse.

Derivatives such as credit default swaps brought down Wall Street banking house Lehman Brothers Holdings Inc. and nearly toppled insurance giant American International Group Inc.

Republicans said they prefer that derivative transaction be disclosed and operate under great visibility, but object to trading them in regulated exchanges.
Profile   Post #: 1
RE: House panel begins push on financial overhaul - 10/14/2009 11:04:51 AM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Hmm, nothing about getting rid of the top third of management of cos. who take U.S. Taxpayer Dollars?
So they'll let the people who fucked up and got into this mess keep steering the ship?
You know, the "smart people" with all those "degrees." The ones who expect "bonuses" every year for losing other people's money.
How's about "bonuses" for people who make $30-$30k a year and *don't* lose other people's money and do make money for their employers?
Does someone who makes $150k per year really need a "bonus?"

_____________________________

"But Your Honor, this is not a Jury of my Peers, these people are all decent, honest, law-abiding citizens!"

(in reply to rulemylife)
Profile   Post #: 2
RE: House panel begins push on financial overhaul - 10/14/2009 11:38:31 AM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		hmmmm... popeye... i refer you back to your own post here

http://www.collarchat.com/fb.asp?m=2850930

and the difference is what?

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to popeye1250)
Profile   Post #: 3
RE: House panel begins push on financial overhaul - 10/14/2009 11:45:11 AM   
Moonhead


Posts: 16520
Joined: 9/21/2009
Status: offline 		The argument that's always offered for paying these people daft salaries and bonuses is that with a pay cut, they wouldn't be getting the best people to fill these positions.
If these are the best people in their fields running the banks, I shudder to think what the rest are like.

_____________________________

I like to think he was eaten by rats, in the dark, during a fog. It's what he would have wanted...
(Simon R Green on the late James Herbert)

(in reply to tazzygirl)
Profile   Post #: 4
RE: House panel begins push on financial overhaul - 10/14/2009 11:49:46 AM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		They are the best... and even better at behind the scene swindlings and schemes.

I often wonder if those companies, like AIG, had gone under, if the government had refused to help, how many people posting about how they deserved the bonuses, how good greed is... how much they earned by virtue of their "work" ethic and their contracts... how many of those people would have any money at all and would be as willing to be so generous in their thoughts, when their wallets and accounts are empty.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Moonhead)
Profile   Post #: 5
RE: House panel begins push on financial overhaul - 10/14/2009 12:02:30 PM   
Moonhead


Posts: 16520
Joined: 9/21/2009
Status: offline 		There's that, true enough.
Certainly it seems that a lot of the "best" did quite well out of the stock exchange going tits up by selling all of their stocks before they started to plunge then buying them all up again when they bottomed out. Wrecking an economy to lower the price of a few shares is no way to behave.

_____________________________

I like to think he was eaten by rats, in the dark, during a fog. It's what he would have wanted...
(Simon R Green on the late James Herbert)

(in reply to tazzygirl)
Profile   Post #: 6
RE: House panel begins push on financial overhaul - 10/14/2009 12:17:30 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		I figure in about 20 years, we will finally get the truth behind the gouging of katrina as well as the market and financial institution messes.

i also figure alot of people wont be happy about what they hear.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Moonhead)
Profile   Post #: 7
RE: House panel begins push on financial overhaul - 10/14/2009 2:26:36 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: popeye1250

Hmm, nothing about getting rid of the top third of management of cos. who take U.S. Taxpayer Dollars?
So they'll let the people who fucked up and got into this mess keep steering the ship?
You know, the "smart people" with all those "degrees." The ones who expect "bonuses" every year for losing other people's money.


Do you remember the fallout when GM's CEO Rick Wagoner was asked to step down?

Including on these boards?

The sky was falling and the government was going to nationalize every company and force us into communist slave labor.

quote:


How's about "bonuses" for people who make $30-$30k a year and *don't* lose other people's money and do make money for their employers?
Does someone who makes $150k per year really need a "bonus?"


And again we've seen the argument that their "talent" needs to be rewarded for the company to profit.

But the figures are much higher in base salary and bonuses. 

The top 50 executives at AIG were to receive an average $192,000 in bonuses alone.

A.I.G. Planning Huge Bonuses After $170 Billion Bailout - NYTimes.com

(in reply to popeye1250)
Profile   Post #: 8
RE: House panel begins push on financial overhaul - 10/14/2009 2:52:35 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline
quote:

ORIGINAL: popeye1250

Hmm, nothing about getting rid of the top third of management of cos. who take U.S. Taxpayer Dollars?
So they'll let the people who fucked up and got into this mess keep steering the ship?
You know, the "smart people" with all those "degrees." The ones who expect "bonuses" every year for losing other people's money.
How's about "bonuses" for people who make $30-$30k a year and *don't* lose other people's money and do make money for their employers?
Does someone who makes $150k per year really need a "bonus?"

Shhh. don't say that too loud...congress might hear you. It is beginning to amaze me as how so many of our educated and aware people refuse to believe that we elect our own whores. Leave it to a terrorist attack, 8 years of republican conservatism and the new kids on the block the great democratic liberalism, to convince us...neither is in control.

(in reply to popeye1250)
Profile   Post #: 9
RE: House panel begins push on financial overhaul - 10/14/2009 9:04:38 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		I don’t think I trust anyone anymore to refom anything incuding Obama, Nader was right they’re corrupt.

Geithner Aides Reaped Millions Working for Banks, Hedge Funds

Oct. 14 (Bloomberg) -- Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.

http://bloomberg.com/apps/news?pid=20601087&sid=abo3Zo0ifzJg

(in reply to rulemylife)
Profile   Post #: 10
RE: House panel begins push on financial overhaul - 10/14/2009 11:10:00 PM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline 		Obama had a chance to get financial oligarchy under control. He did not understand it and he missed it. These are the usual problems when a rookie gets elected.

(in reply to Brain)
Profile   Post #: 11
RE: House panel begins push on financial overhaul - 10/15/2009 3:33:39 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: Fellow

Obama had a chance to get financial oligarchy under control. He did not understand it and he missed it. These are the usual problems when a rookie gets elected.


Aren't they all rookies until they run for re-election?

(in reply to Fellow)
Profile   Post #: 12
RE: House panel begins push on financial overhaul - 10/15/2009 3:37:28 AM   
HatesParisHilton


Posts: 3513
Joined: 12/27/2006
Status: offline 		O, I  am so jealous that rule got in a post at 3:33:39
 
I have been SO after that for yonks.
 
 
 
carry on

_____________________________

I am (now) "Hiltie", hear me ROARRRRR! And have a cuffy cake, they're nice.

(in reply to rulemylife)
Profile   Post #: 13
RE: House panel begins push on financial overhaul - 10/15/2009 3:54:01 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		If I only knew what a yonk was.  

(in reply to HatesParisHilton)
Profile   Post #: 14
RE: House panel begins push on financial overhaul - 10/15/2009 7:12:40 AM   
Thadius


Posts: 5091
Joined: 10/11/2005
Status: offline 		Unfortunately, this is probably just more political posturing.  It seems to be an attempt to make a bunch of noise on a fairly important front, and keep eyes off of the 500 pound gorilla in the room (healthcare).  I do hope they get something done, but it needs to be something that fixes the system, and not something that kills it.

Hopefully both parties will take responsibility for their parts in the Freddie and Fannie (regulations and deregulations) that were a huge factor in the current economic situation.  However, that is probably as likely as me being able to sit out this winter and do some sunbathing while enjoying the 90's here in Michigan.

I suppose the cool thing is that they already have their reelection safety net in place (aka the stimulus bill from earlier this year).  Most of the spending is set to go into effect during Q1 and Q2 of the new year, just in time for campaign mode, who would of thunk it.  I mean since it was such an emergency to get it passed, so quickly; one would have thought that the money would be put to use a lot sooner.  Of course it is just coincidence that those funds would be set to be spent when it could benefit a party during a midterm...

I wish you well,
Thadius

_____________________________

When the character of a man is not clear to you, look at his friends." ~ Japanese Proverb

(in reply to rulemylife)
Profile   Post #: 15
RE: House panel begins push on financial overhaul - 10/15/2009 12:55:29 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		Record Pay-Out Predicted for Banks

http://www.youtube.com/watch?v=RtwUi-0NOUU

The Wall Street Journal analyzed 23 Top Banks and predicted a record high compensation pool of $140 billion for this year. Jim Axelrod reports.

(in reply to Thadius)
Profile   Post #: 16
RE: House panel begins push on financial overhaul - 10/15/2009 1:04:02 PM   
Thadius


Posts: 5091
Joined: 10/11/2005
Status: offline 		That should come as no surprise.  Give banks the kind of capital infusion that they received under the various bailouts, and of course they are going to make money with it.

I sometimes wonder if it wouldn't be cheaper to just give the banks their own currency presses...

_____________________________

When the character of a man is not clear to you, look at his friends." ~ Japanese Proverb

(in reply to Brain)
Profile   Post #: 17
RE: House panel begins push on financial overhaul - 10/15/2009 1:07:38 PM   
slvemike4u


Posts: 17896
Joined: 1/15/2008
From: United States
Status: offline 		Yeah Thad,but than they wouldn't need us anymore!

_____________________________

If we want things to stay as they are,things will have to change...Tancredi from "the Leopard"

Forget Guns-----Ban the pools

Funny stuff....https://www.youtube.com/watch?v=eNwFf991d-4


(in reply to Thadius)
Profile   Post #: 18
RE: House panel begins push on financial overhaul - 10/15/2009 1:40:51 PM   
Thadius


Posts: 5091
Joined: 10/11/2005
Status: offline 		Mike,

Do they really need us now?  Oh wait, yeah for those tax dollar thingies.


As always,
Thadius

P.S. With all of the extra movement on so many different fronts these last few days, I wonder if it is not just some grandstanding to show the GOP as a complete opposition party, and thus taking away any and all perceived credibility they have when they oppose the upcoming merged health care bills?  Just a thought.  I must say well played by the Dems, if that is the goal.


_____________________________

When the character of a man is not clear to you, look at his friends." ~ Japanese Proverb

(in reply to slvemike4u)
Profile   Post #: 19
RE: House panel begins push on financial overhaul - 10/15/2009 1:52:28 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		~grins

Master Thadius, that thought has popped into this silly slave girl's head more than once over the past few months.  It has been noted by more than one source that the public option isnt completely dead.  The "anti rape" bill will certainly be played to the hilt.  Just seems like, perhaps, the Dems are getting their ducks in a row, strategically discrediting the Republicans in tiny steps.  Then again, as someone pointed out... what would i know.. im just a silly female.



_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Thadius)
Profile   Post #: 20
Page:   [1] 2   next >   >>
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> House panel begins push on financial overhaul Page: [1] 2   next >   >>
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy

0.076