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Dodd-Frank - 3/15/2015 4:33:07 AM   
BenevolentM


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Status: offline 		I hope to better understand what Dodd-Frank is about and whether or not I should oppose it. I am suspicious of its sanity because it had something to do with Barack Obama and Barney Frank. I am wondering if anything that was passed during the time when Barack Obama was in office should be overturned. I suspect Dodd-Frank instead of being a solution is punitive and as such is doomed.
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RE: Dodd-Frank - 3/15/2015 4:55:42 AM   
BenevolentM


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Status: offline 		This statement "the extent to which any of the company's activities could have a potential disruptive impact on financial markets or the overall financial stability of the country" does not seem proper for a free society. Though this may seem like a subtly to some, but How is it their business? It is a fundamental precept of a free society that when you put money in a bank for example that it is your money and you have a right to spend it as you please without someone wondering if how you spend your money could be construed as potentially disruptive. It discriminates against wealth which suggests that Dodd-Frank is a communist manifesto. It sounds innocent, but is it really all that innocent?

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RE: Dodd-Frank - 3/15/2015 5:04:33 AM   
Kirata


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How Wall Street Defanged Dodd-Frank

It's a long piece and I haven't read it all, but as you've expressed interest I'll pass it along.

K.

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RE: Dodd-Frank - 3/15/2015 5:16:59 AM   
BenevolentM


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Status: offline 		I've been running into problems related to investing that I would describe as insane and I am wondering if Dodd-Frank is to blame. I suspect Dodd-Frank is attempting to make a distinction between corporations and individuals. Corporations are wealthy therefore pose a systemic risk whereas individuals are poor and therefore pose no risk. I do not feel this distinction to be legal nor benign. I suspect the law segregates individuals from the tools needed to create wealth. The reasoning is if you are an individual you have no need for the tools needed to create wealth for you are poor and ever shall be poor.

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RE: Dodd-Frank - 3/15/2015 5:22:00 AM   
BenevolentM


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Status: offline 		The problem I have with the article is that it depicts us verses them which is politics, not substance. I am worried about the subtle real world effects.

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RE: Dodd-Frank - 3/15/2015 5:27:16 AM   
BenevolentM


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Status: offline 		Reading parts of the article and skimming over the rest my impression is what may be the most dangerous aspect of the laws is not where Republicans and Democrats disagreed, but where they had agreement, namely corporate power rules, people don't.

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RE: Dodd-Frank - 3/15/2015 5:37:47 AM   
BenevolentM


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Status: offline 		Given that it is trivial to become a corporation how is this a problem? It is a problem when you are in the early stages of planning when you are still an individual. They will literally deny you the ability to carry out your due diligence and act in your best financial interest because you are an individual. Later when you are a corporation, now no longer "self-directed", the problem becomes you are just a little too wealthy for them, just a little too powerful. The paranoia and distrust of wealth is at an insane level at the highest level of government.

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RE: Dodd-Frank - 3/15/2015 5:42:55 AM   
BenevolentM


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Status: offline 		I get the feeling that you can be regarded as a potential national security risk solely because you are wealthy.

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RE: Dodd-Frank - 3/15/2015 5:46:16 AM   
bounty44


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Status: offline 		i typically like what I read from the cato institute, and here is a piece on that legislation from them.


http://www.cato.org/publications/commentary/doddfrank-law-regulations-wont-fix-whats-wrong


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RE: Dodd-Frank - 3/15/2015 5:59:50 AM   
BenevolentM


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Status: offline 		The article you cited
http://www.cato.org/publications/commentary/doddfrank-law-regulations-wont-fix-whats-wrong
reminds me of other things I've read like a misunderstanding between execution and clearing. The emphasis is on having a central exchange instead of a central clearing house and it is believed to be the result of few understanding the difference between execution and clearing.

quote:

http://www.cato.org/publications/commentary/doddfrank-law-regulations-wont-fix-whats-wrong

And whatever your opinion of such companies, we can agree they weren’t behind the financial crisis. ... Unfortunately, the new agency is a distraction from the real flaws of our financial system. Instead of increasing so-called consumer protection, Congress should have prohibited the government from pushing risky lending and reined in the easy-money Fed policies that inflated the housing bubble. That would help correct the problems Dodd-Frank ignores.


I agree a lack of consumer protection was not the problem. My understanding grid lock was because monetary policy I understand it from what I've read was used in place of sound policy because the Republicans and Democrats are constantly fighting and can get nothing done.

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RE: Dodd-Frank - 3/15/2015 6:06:24 AM   
BenevolentM


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quote:

http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act#Constitutional_challenge_to_Dodd-Frank

The lawsuit asks the court to invalidate the law arguing that it gives the federal government unprecedented, unchecked power.


This seems likely given the subtle Orwellian aspects of this law.

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RE: Dodd-Frank - 3/15/2015 6:38:01 AM   
BenevolentM


Posts: 3394
Joined: 11/15/2006
Status: offline 		If you don't believe me, listen to this song War on Error.

INDUSTRIAL MIX II From DJ Dark Modulator
https://www.youtube.com/watch?v=bsBIB6bhfMc

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RE: Dodd-Frank - 3/15/2015 6:39:57 AM   
BenevolentM


Posts: 3394
Joined: 11/15/2006
Status: offline 		If you don't believe me, listen to this song.

Rotersand - War On Error (iVardensphere Remix)
https://www.youtube.com/watch?v=6Ui9a-pn93c

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RE: Dodd-Frank - 3/15/2015 6:55:00 AM   
BenevolentM


Posts: 3394
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Status: offline 		Does anyone realize what a prohibition against self-directed really means? It means you are not a free man, you are a slave to another. The keys of power belong only to the slave.

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RE: Dodd-Frank - 3/15/2015 7:11:47 AM   
BenevolentM


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Status: offline 		Why bother to say it?

< Message edited by BenevolentM -- 3/15/2015 7:17:09 AM >

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RE: Dodd-Frank - 3/15/2015 7:18:42 AM   
bounty44


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Status: offline 		an awful lot of this benevolent is outside my wheelhouse so to speak, at least on many of the particulars. I just know in general that the larger and more regulated things become, the more bureaucratic they become---and typically speaking, more government leads to less freedom.


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RE: Dodd-Frank - 3/15/2015 7:38:13 AM   
BenevolentM


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quote:

ORIGINAL: bounty44

an awful lot of this benevolent is outside my wheelhouse so to speak, at least on many of the particulars. I just know in general that the larger and more regulated things become, the more bureaucratic they become---and typically speaking, more government leads to less freedom.


This prohibition against self-directed appears to be a work around, a justification for regulation that an individual could not afford, a burden so great that it would break the back of a mule. So if you can subtly remove people from the equation and call them institutions instead you can get away with a lot more regulation. Businesses can often tolerate regulation better than people can because their charters tend to be narrow. Because they are narrow it tends to be a cost of doing business as opposed to a stripping of the sovereign rights of a human being. People have no charter though they can have a destiny. It isn't the same thing as a charter.

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RE: Dodd-Frank - 3/15/2015 7:46:51 AM   
BenevolentM


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Status: offline 		There is theory and practice. The effect is the so-called regulated are unregulated and the so-called unregulated are regulated.

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RE: Dodd-Frank - 3/15/2015 7:56:41 AM   
BenevolentM


Posts: 3394
Joined: 11/15/2006
Status: offline 		It is enough to make me wonder if I should become a Libertarian because none of these people are able to get it right so what is the point?

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RE: Dodd-Frank - 3/15/2015 8:14:10 AM   
BenevolentM


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quote:

Set Up To Fail: Dodd-Frank ...

How did this happen? I believe failure was baked into Dodd-Frank from the beginning, when the President and Congress decided against writing a law with specific provisions that would solve the problem. Instead, Dodd-Frank provided vague guidelines to the federal financial regulators. It was up to them to produce the actual rules. And, as always, the devil is in the details.

http://www.forbes.com/sites/tedkaufman/2013/07/19/set-up-to-fail-dodd-frank-leaves-bank-regulators-overwhelmed-underfunded/

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