Edwynn -> RE: to the whackadoodle leftists here (11/4/2011 7:46:39 AM)
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No question, the Democrats have fallen for the "gotta make Big Business happy" line of thinking as established, no turning back, in the Reagan era. But, are you trying to tell us here that grabbing ankles for the financial industry is somehow less 'elegant' than grabbing ankles for the oil industry? Heck, at least Blankfein ain't VP. We will be paying for Cheney's shenanigans for decades to come. That's almost as bad as if we had the largest investment bank CEO as Treasury Secretary or something. Oh wait ... (which presents the question; why are you carping about Goldman Sachs' contribution to this administration when the last pres had the biggest GS guy at the Treasury?) To the general audience here: Carp about the SEC all you like, but ICE (International Commodities Exchange), completely unregulated, CDOs (collateralized debt obligations), again, completely unregulated, and a host of other malfeasance instruments could only have come into existence because of the Commodity Futures Trading Modernization Act. Wendy Gramm attacked from below (sorry, Enron retirees) and her hubby attacked from above (you GO! Phil!).There are quite many things that affect our livelihoods that the the SEC is expressly prohibited from regulating. TY Phil Gramm. If this country had anything resembling proper laws regarding fraud, at least 1/4 of the folks at S&P or Moodys' would be serving life sentences. Congress already gutted anything resembling financial regulation 12 years ago. Heck, the Bush II clan even sicked the OCC (Office of the Comptroller of the Currency) on states trying to enact predatory lending laws. The SEC is still there just to keep a good face on things. You know how Congress is; gotta dress well for the party.
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