WantsOfTheFlesh
Posts: 1226
Joined: 3/3/2009
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ORIGINAL: MrRodgers
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ORIGINAL: WantsOfTheFlesh
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ORIGINAL: Yachtie
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ORIGINAL: WantsOfTheFlesh
tha cancer needs to be cut out without killing the patient.
Difficult task, daunting even, seeing that so many desire to retain the social system (on which they have come to depend and were promised) which depends so much on how the banks, insurance companies and most specifically THE FED work. It's all a spider web now. Remove one attachment of the web and it all comes cascading down. It's now so much greater than mere taxation can provide. It literally scares the shit out of TPTB. It's why Congress is seemingly powerless to do anything. It's like speeding towards the cliff with no where to escape to that does not destroy one's place in the ruling elite (have their cake and eat it too). The oligarchy is massively threatened. So we continue on under more false promises.
yep it would be a big battle wit powerful interests but a theres a fat regulation sector in tha US both at a state & federal level. changes are taking place & ya can tell its effective coz the banks dont like it http://online.wsj.com/article/SB10001424052702303640104577438901538000094.html
One problem. The bankers want to gamble again just like the guy with the...gambling problem.
AND kinkroids, if they gamble on derivatives and they are, (some estimates are at 100's of trillions) there isn't enough money in the whole fucking world to bail them out this time...bank regulations or not.
The govt. and the regulators all sing a great tune this time around but 20-30 million people in the street in the US alone does not make for good music.
no bank wit 6% or more common equity has ever gone under in history so 7% is now tha regulation. its up 3.5x from 2% equity & should be enough to buffer against other crises.
rules on gambling wit derivatives are coming into play http://en.wikipedia.org/wiki/Derivative_(finance)#Financial_Reform_and_Government_Regulation
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In November 2012, the SEC and regulators from Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Quebec, Singapore, and Switzerland met to discuss reforming the OTC derivatives market, as had been agreed by leaders at the 2009 G-20 Pittsburgh summit in September 2009.[39] In December 2012, they released a joint statement to the effect that they recognized that the market is a global one and "firmly support the adoption and enforcement of robust and consistent standards in and across jurisdictions", with the goals of mitigating risk, improving transparency, protecting against market abuse, preventing regulatory gaps, reducing the potential for arbitrage opportunities, and fostering a level playing field for market participants.[39] They also agreed on the need to reduce regulatory uncertainty and provide market participants with sufficient clarity on laws and regulations by avoiding, to the extent possible, the application of conflicting rules to the same entities and transactions, and minimizing the application of inconsistent and duplicative rules.
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