Congress censors advocate of derivatives regulation

Posted on October 30, 2009 by stacyherbert| 94 Comments

Stacy Summary: Unbelievable. Every morning another “let them eat cake’ moment. The difference between now and 1789, however, is that today’s peasant riots for more cake.

Bank-favoring censorship by Congress

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94 Responses to Congress censors advocate of derivatives regulation

Illya Kuryakin | October 30, 2009 at 2:52 am |

http://farm3.static.flickr.com/2774/4057321029_cae4e4e9f2_o.jpg
Palantíri | October 30, 2009 at 3:00 am |

Oh but you see Stacy – The Cake Is A Lie!!!
TroyOunce | October 30, 2009 at 3:04 am |

Every country has the leadership it deserves……….
Youri Carma | October 30, 2009 at 3:07 am |

Obama “too big to fail” plan blasted in Congress http://tinyurl.com/yldsmzt

Stock analysts issue ‘Black Tuesday’ warning http://tinyurl.com/yhs2sss
Illya Kuryakin | October 30, 2009 at 3:09 am |

Ellen Brown on Global Research Network this week, talks about N. Dakota…

Definitely get her on.
Phil | October 30, 2009 at 3:16 am |

MUST WATCH

An Insult to Our Democracy

http://www.youtube.com/watch?v=ywgUCdefSW8

US Democracy …. LOL !
Mongo | October 30, 2009 at 3:25 am |

After yesterdays rally with the fake GDP I am beginning to wonder how gravity can be suspended for so long.
Illya Kuryakin | October 30, 2009 at 3:45 am |

Just finished listening to Brown’s interview by Stephen Lendman, she’s a wealth of info!
Youri Carma | October 30, 2009 at 3:46 am |

Bankers Expect Rising Bonus Pay to Break Records in Global Poll http://tinyurl.com/yzbt3dp
Youri Carma | October 30, 2009 at 3:48 am |

U.S. Consumer Spending Probably Fell as ‘Clunkers’ Plan Ended http://tinyurl.com/yfglqz3
Fibon11235 | October 30, 2009 at 3:51 am |

@ Max Normal Economic Arguments Are NOW Suspended.
I think our political and financial system are broken, anything now can happen. Inflation, deflation its not the point, it all appears that were becoming completely lost .

A lost society with its collective lost mind. We will wonder, about what they did, why it happened?

No one will ever know when or why the social heart shattered. Its very soul dies in disagreement, the happiness will all go with the trust for a period to come, me thinks…?

So what should one do, in a insane society, when its done with you and you it? Run forest run…?

The symptoms of this insanity are all around.
Some examples:

1. Detention without trial
2. Torture
3. Propaganda
4, False reporting of events
5. False reporting of facts
6. Deceiving your own population
7. Surveillance society
8. General erosion of civil liberties
9. Dysfunctional political system
10. Corruption
Youri Carma | October 30, 2009 at 3:54 am |

GDP Is….. Better Than Expected? http://tinyurl.com/yfa27zf
Bonn | October 30, 2009 at 3:56 am |

Nancy Pelosi CNN Coverage 500 Million People Will Lose There Job Every Month

http://www.youtube.com/watch?v=-UR5M5teyQ0&feature=related

ROFL aint adding the next Abbv. Illya
Even the Reporter Did figure out that US poulation is 340 – 370 million ROFL and thats how they did it.
The More i thing 90 % of Congress wouldnt pass 5th Grade. They should all be forced to Come on the Show “Are You Smarter than a 5th Grader” And these Lunatics are signing away US’s Economy
Supergeek | October 30, 2009 at 3:58 am |

@y’all
still Black History month here in uk!!!
http://www.youtube.com/watch?v=nYKYntJ6boY
Youri Carma | October 30, 2009 at 4:09 am |

Shell cuts 5,000 jobs as revenues fall http://tinyurl.com/yhxq2ac

Shell ‘defers downstream IT investment’ – report http://tinyurl.com/yz2ss2l
Mother earth | October 30, 2009 at 4:09 am |

Jim Willie, maybe already posted, expects a killing spree of mid level bankers and an increase of the use of organized criminal groups (like the Yakuza) to political ends..

http://tinyurl.com/yzumlp3
Youri Carma | October 30, 2009 at 4:13 am |

Royal Dutch Shell to axe 250 jobs in Aberdeen amid worldwide cull http://tinyurl.com/yh95j3e
Illya Kuryakin | October 30, 2009 at 4:14 am |

I’m dressing up as a banker this Halloween…if I knock on your door please have some of these handy.
Youri Carma | October 30, 2009 at 4:21 am |

Women Say More About an Economy Than Money Does: William Pesek http://tinyurl.com/yjmpzpm
Dedo | October 30, 2009 at 4:25 am |

@Super,..Great vid !,..knowing that our past has been altered to suit the objectives of the present hegemony, have you ever considered the possibility that the words we use are also manipulated for such ends?
“Oh what a tangled web we weave, When first we practice to deceive”
Bonn | October 30, 2009 at 4:26 am |

Shell cuts 5,000 jobs as revenues fall

this is a clear indication that there is no Recovery Oil is used for Transportation . And the Oil Industry is not an Easy industry to Automate I think , I aint no Expert Though.
frances snoot | October 30, 2009 at 4:35 am |

@Illya:

The link from Antiwar.com is fantastic!

“This led Iran to propose today’s compromise deal, the chief aspect of which was that they would ship the uranium out in stages rather than all at once. This would have limited the potential losses to their stockpile in the event the deal fell apart.”

US Press is not covering this story. The Iranians are being reasonable. The negotiations have been ongoing:

“But for Europeans, getting Iran to hand over the bulk of its uranium all at once was the best part of the deal, and they appear uninterested in continuing negotiations without that, which will likely also make Iran all the more suspicious that France will ever give back the uranium once they get their hands on it.”

http://www.campaigniran.org/casmii/index.php?q=node/8852

From 2006Haraatez:

http://www.haaretz.com/hasen/pages/ShArt.jhtml?itemNo=689985&contrassID=1&subContrassID=1

“Iran insists on a sovereign right to peaceful nuclear know-how like other countries party to the Non-Proliferation Treaty. Iranians officials have warned that any Council step to impose sanctions on Iran could drive it out of the NPT.”

EU is the one negotiating the Iranian uranium (heh it rhymes) “deals”.
doomandbloom | October 30, 2009 at 4:36 am |

Reuters: JP Morgan raised concerns about Galleon in 2001:
“The JPMorgan note alleged that the principals of Galleon “liked to operate in the ‘grey areas’” of the markets, the Financial Times wrote”
http://www.reuters.com/article/ousivMolt/idUSTRE59T07V20091030

What about all our concerns about JP Morgan??!! They pretty much operate in black areas!!
Mongo | October 30, 2009 at 4:41 am |

Silver to $20 dollars next year (no shit sherlock)

http://www.bloomberg.com/apps/news?pid=20601012&sid=aiZxK2TRfPR8
frances snoot | October 30, 2009 at 4:44 am |

@Phil:
File your “must watch” under comedy.
frances snoot | October 30, 2009 at 4:48 am |

1. Detention without trial
2. Torture
3. Propaganda
4, False reporting of events
5. False reporting of facts
6. Deceiving your own population
7. Surveillance society
8. General erosion of civil liberties
9. Dysfunctional political system
10. Corruption

@Fibion11235:

The news is that the above have been a policy of the American government against people overseas and indigenous people living withing the US and people of color and women from the inception of the Republic. And it’s probably the same most everywhere else.

Disfunction is a function.
frances snoot | October 30, 2009 at 4:49 am |

4, False reporting of events
5. False reporting of facts
6. Deceiving your own population

Another way of representing the state-sponsored educational system.
Fibon11235 | October 30, 2009 at 4:50 am |

UK ,USA, West Europe does it make any difference?
Does the bond market still work on market principles ?

http://www.youtube.com/watch?v=TCgUFIJ70pA&feature=player_embedded#at=11
Mini US | October 30, 2009 at 4:53 am |

@Phil

“An Insult to Our Democracy”

What were they voting on in that state?
Was it important or just politicians playing with themselves again?

Looked bad though, blatant arrogance by speaker of house.
Surely the Piglets must soon be getting restless in US.

We would never get that info if it wasn’t foe you guys.
Thanks.
Mini US | October 30, 2009 at 5:03 am |

@Frances
Just read your post.
I guess its not serious then. Just a couple of old fogeys.
You should see our Parliament. Ha!
frances snoot | October 30, 2009 at 5:05 am |

“Asia is especially fertile ground for tracking gender dynamics, and dishearteningly so. Far more Asian nations slipped than gained in 2009. It means the global crisis set back efforts to narrow the male-female gap in economic and political power. If you are an investor who thinks this is a social issue far removed from your portfolio, think again.
There’s no dumber economic policy than tying one hand behind your back, and it’s a key reason Asia underperforms. Drawing from a smaller — and weaker — labor pool stunts any country’s growth and corporate management.
This structural impediment to growth is as silly as it is damaging. Asia will regret its failure to address it.”

This from BLOOMBERG the bastian of patriarchal suppression and marginalization? The Bloomberg of the token female?

How does Bloomberg propose to address the inequalities? UN sanctions?

HAHAHAHAHAHA WHAT HYPOCRITS.

http://www.forbes.com/feeds/businesswire/2009/10/30/businesswire130837491.html
frances snoot | October 30, 2009 at 5:05 am |

“Asia is especially fertile ground for tracking gender dynamics, and dishearteningly so. Far more Asian nations slipped than gained in 2009. It means the global crisis set back efforts to narrow the male-female gap in economic and political power. If you are an investor who thinks this is a social issue far removed from your portfolio, think again.
There’s no dumber economic policy than tying one hand behind your back, and it’s a key reason Asia underperforms. Drawing from a smaller — and weaker — labor pool stunts any country’s growth and corporate management.
This structural impediment to growth is as silly as it is damaging. Asia will regret its failure to address it.”

This from BLOOMBERG the bastian of patriarchal suppression and marginalization? The Bloomberg of the token female?

How does Bloomberg propose to address the inequalities? UN sanctions?

HAHAHAHAHAHA WHAT HYPOCRITS.

http://www.forbes.com/feeds/businesswire/2009/10/30/businesswire130837491.html
frances snoot | October 30, 2009 at 5:07 am |

OOOPs.

How do the posts appear twice? Sorry!

@MiniUS:

I didn’t mean it wasn’t serous, I meant it is laughable that we are only now noticing, and that the clowns voting are just as corrupt as the fat-man-with-the-gavel.
white hunter | October 30, 2009 at 5:26 am |

@Bonn

Since the kenyan said he had visited 57 states, maybe those additional seven states bring the total to more than 500 million.
Frank Hope | October 30, 2009 at 5:29 am |

Geithner says the peasants can’t be trusted to know the list of “too big to fail” firms. Only the Elite Aristocracy can be trusted with this information. Yes m’Lord.

http://www.reuters.com/article/BROKER/idUSN2958433620091029?sp=true

GEITHNER: “What you don’t want to do is, by identifying a list of companies that are going to be held to tougher standards, create an expectation the government will step in and protect them if they screw up.”
frances snoot | October 30, 2009 at 5:30 am |

@MiniUS:

But the real comic aspect is the interpretation of the viewer, an assumption by the majority that the clowns are representing their constituents (cake-eaters) interests. HA HA.
Dante | October 30, 2009 at 5:30 am |

Never heard of Yottabytes?

“Unlike the British government, which, to its great credit, allowed public debate on the idea of a central data bank,” Bamford wrote, “the NSA obtained the full cooperation of much of the American telecom industry in utmost secrecy after September 11.”

http://www.thenewamerican.com/index.php/usnews/constitution/2177-nsa-supercenters-to-store-americans-private-data-permanently
frances snoot | October 30, 2009 at 5:32 am |

Fred Fillibuster was all flustered most probably because he was set to lose personally (position, monetary gain) on the gavel-arrogance displayed by Alfred Antigone the 3rd.
Phil | October 30, 2009 at 5:39 am |

Chirac Ordered to Face Trial in France

…PARIS — An investigating magistrate on Friday ordered the former French president, Jacques Chirac, to stand trial on corruption charges dating to his time as mayor of Paris, reinforcing the whiff of alleged malfeasance swirling around the political elite here….
…
…
…The development came at a time when one of Mr. Chirac’s most prominent aides, former prime minister Dominique de Villepin, is in court defending himself against separate charges of planning a smear campaign in 2003 and 2004 against Nicolas Sarkozy, a political rival who is the current president.
…
…

http://www.nytimes.com/2009/10/31/world/europe/31chirac.html?_r=1&ref=global-home
Phil | October 30, 2009 at 5:41 am |

Asteroid explosion threatens Earth?
Friday, October 30, 2009

An asteroid that exploded in the Earth’s atmosphere with the energy of three Hiroshima bombs this month has reignited fears about our planet’s defenses against space impacts. On 8 October, the rock crashed into the atmosphere above South Sulawesi, Indonesia. The asteroid was around 20 meters across and hit the Earth’s atmosphere at 45,000mph. The blast was heard by monitoring stations …
…

http://www.thedailybell.com/570/Asteroid-explosion-threatens-Earth.html
Phil | October 30, 2009 at 5:45 am |

Feedback Loops – W.E.Pollock

…A look at the $1 store which is now a $1.29 store; on its way to going out of business. That is not all, I see the same kind of financial stress in a few Utility Companies. Clear as day we will have shortages of imported and domestically produced items as early as mid 2010. Credit availability, and the fact that no money can be made, seems to have stymied the production of needed or wanted items. Without government measures to date we would be closer to zero activity. Although these are thought of as inflationary forces, a large deflationary specter overhangs. Its a question of semantics…

http://www.youtube.com/watch?v=kYI3eyW2IKE&feature=sub
Sam53 | October 30, 2009 at 5:52 am |

@Supergeek

Thank you so much for the link! I watched Gil in concert and had all his albums a lifetime ago. Thanks for bringing back the memories.
I’ll have to introduce him to my children and grands…

thanks to everyone for the links and info. I know I’m like the person who comes to the potluck dinner and doesn’t bring a dish, but hopefully after learning and absorbing more, I’ll be able to contribute. Y’all are some smart and insightful folks.
Phil | October 30, 2009 at 6:11 am |

Jacques Chirac: former French president charged with embezzlement

http://www.telegraph.co.uk/news/worldnews/europe/france/6465773/Jacques-Chirac-former-French-president-charged-with-embezzlement.html

Out of curiosity, just making a note here :

Interpretation of Nostradamus’ Quattrain for ca. 2010 onwards ….
People will lose faith in Politicians and the Church.
UK will suffer hunger for 20 years.
England will become a satellite state of the US.
Continental Europe will be ruled by a new French leader.
( the rest is too awful to mention )
FWIW

PS: Don’t bother flaming me Illya !
James | October 30, 2009 at 6:14 am |

Peasants do what theyve always done, adapt and survived. Even Jesus pointed out that the poor will always be with us,if youve always had nothing what have you got to rebel against. Its you middle class types that the elites will have up against the wall
Dante | October 30, 2009 at 6:16 am |

Even the penal system is gamed:
The Pa. Supreme Court has dismissed more than 6,000 juvenile convictions issued by former Judge Mark Ciavarella, who is charged with accepting millions in kickbacks to send youths to private detention centers.

http://www.enquirerherald.com/365/story/936626.html

No wonder Pershing Square Capital Management LP took a
9.5% position in Corrections Corp…thats where the new “edge” will be…manufacturing cell mates.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a96APKKcMHgQ
Illya Kuryakin | October 30, 2009 at 6:32 am |

Silver to $20 dollars next year (no shit sherlock)

Wow, how many chimpanzees did Bloomberg employ to come up with that insight?

They actually pay these crackheads?

Speaking of crackheads, here’s a little insight into how bad things are: I stepped out of the pub last night for a smoke and some douche walks over and offers to blow me for $2! WTF?
Illya Kuryakin | October 30, 2009 at 6:35 am |

@phil
PS: Don’t bother flaming me Illya !

Isn’t it odd that more average jokers buy into the 400 year old arcane rantings of a crazed rabbi-wannabe than believe 9/11 was inside job?
Phil | October 30, 2009 at 6:36 am |

@Illya… did I deny 9/11 was inside job?
No !
Dedo | October 30, 2009 at 6:37 am |

@Ilya,..wow!, a fag and a blow,..
Bonn | October 30, 2009 at 6:38 am |

@ Stacey @Max

ROFL i just Thought of this this Carbon Tax and Carbon Credit beats Tayota’s & Dell’s Just in Time Inventory of Business Model.

Zero Inventory Model ROFL. “Invisible Product” LOL In Your Face Dell & Tayota And you guys thought U needed a product to Sell , Try and Beat my Business Model ROFL
Amandip Singh | October 30, 2009 at 6:39 am |

@y all

I always had been told in my childhood “Western countries have very honest and hard working politicians and bureaucrat’s”. This is the reason we are poor country and they are rich and till we learn techniques and methods they use to run a country we wont be able to succeed.

Since I have followed western media and have stayed there for few year I have realized they are no different from ours. The reason west moved ahead and succeeded was that general population was more educated which gave them better opportunities and their leaders better edge to exploit others. We being uneducated became exploited by leaders.

Reading news like this (link posted below), posts by Stacy and just finished watching “Fall of The Republic : The Presidency of Barack H Obama “, I have discovered that West have got even crappier lot than ours.

They lie on everybody’s face looking strait in their eyes “Better Actors than we have got”

“Fed’s Regional Chiefs ‘Fight’ for Monetary Policy Independence”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aIww4fZIKpRM

Better get rid of them or else you will fall to our past standards
david | October 30, 2009 at 6:44 am |

I’m dressing up as a taxpayer for Halloween so should I come knocking on your door please have some of these handy… http://www.rightmindsforum.com/misc/DogShit02a.jpg

Max in the past you were an advocate of Carbon Taxes, I’m curious do you still hold with those convictions.
david | October 30, 2009 at 6:46 am |

Bonn here’s one for you LINSM (laugh I nearly shat myself).
Bonn | October 30, 2009 at 6:48 am |

@ Phil Asteroid explosion threatens Earth?
Friday, October 30, 2009

Man dont Tell me Niburu is Real .
But the Sun Flares have gone Down or is it Passing Jupiter ????

@white hunter
LOL Yeah. U Just Gotta type “Teleprompter President”
Dedo | October 30, 2009 at 6:48 am |

I’m dressing up as the pope for Halloween, could you please have some of these ready for me:

http://www.acclaimimages.com/search_terms/little_boy.html
Warren | October 30, 2009 at 6:50 am |

Cluster Bomb Trade Funded by World’s Biggest Banks
Fibon11235 | October 30, 2009 at 6:57 am |

@Amandip Singh We have to cope with loads of insane bullshit in the west, do you remember this nonsense. My TIN FOIL HAT antenna says were are gamed then as we are now, in the west.

Would you like a vaccine for your y2k BUG???????????? lol

You can take it while we payi for invented CO2 carbon tax problems to aid our jobless economic recovery.

Poor Spock he was so logical in the fictional character he played in Star Trek a dirty trick lol

O yes were on the way down and there is no stopping us now..
http://www.youtube.com/watch?v=cL5Yu3Ub9nA
Bonn | October 30, 2009 at 7:06 am |

George Carlin – Saving the Planet

http://www.youtube.com/watch?v=7W33HRc1A6c

Save the Snails ROFL God Bless George Carlin
Photoception | October 30, 2009 at 7:13 am |

The carry trade could very well be unwinding folks. Look at the AUD/USD, the CAD/USD, EUR/USD, JPY/USD, all are on the edge of a plummet.

If these currencies don’t break out of their present down trend, we’re in for a massive dollar rally. The Canadian dollar looks particularly vulnerable, and I guarantee the carry traders like to stuff their positions into any commodity related currencies.
Phil | October 30, 2009 at 7:13 am |

@Bonn .. keeping it short …

Niburu is NOT Real !

God Bless The Great George Carlin
R.I.P.
Illya Kuryakin | October 30, 2009 at 7:14 am |

@Phil
@Illya… did I deny 9/11 was inside job?
No !

I wasn’t referring to you, brother. I meant in general.
Phil | October 30, 2009 at 7:15 am |

@Illya Kuryakin .. sorry & OK !
Bonn | October 30, 2009 at 7:21 am |

@ Phil.
Dont Know Phil most of science has opposites
Positive negative. Man Woman, the Gulf of Mexico looks Round Plus their are reports that some water bodies in their are really Toxic and the Ancient wolrd of Atlantis that Sank.
Proton Neutron Plus Electron . matter Anti matter , Black holes . Never Seen a bugger alone Like our Sun in Science at least
Chalcedonite | October 30, 2009 at 7:25 am |

@Singh
The reason why the west moved ahead is because of the implications of the Council of Chalcedon: Leave the world, spiritually and physically, better than you found it. Volunteerism was not known of in the east. Yes, this has a Christian religious implication. Christianity in the west is mostly a license to do evil now, Humanism with Christ as the fire and life insurance policy. That is why the west is no longer moving ahead.
Phil | October 30, 2009 at 7:26 am |

Highway Robbery: State’s Ailing Roads & Bridges Robbed of
65 Percent of Highway & Bridge Trust Fund Money
DiNapoli: State Siphoned Money to Pay for Operations and Debt Service

http://www.osc.state.ny.us/press/releases/oct09/102909.htm

From the Office of the New York State Comptroller … no less !
Will | October 30, 2009 at 7:31 am |

@Rushdoony ~

Well, that’s one way to look at it. “The victors write the history books.” But, it doesn’t look like we’re going back.
frances snoot | October 30, 2009 at 7:32 am |

@Phil:

W.E.Pollock has some good points: especially the “76 line in the sand” idea and the chaos of below 72. I wonder why he says, “only business seems able to borrow money is the government,” when he might mean, “only small business that rely on independent funding agents” as we surely have aided GM with government funds. The ‘no income only outflow’ in interesting: he doesn’t seem government as a function of elite interest. But he seems very balanced and informed.

Explain: “inverse of printing money is debt”. I don’t think it’s that simple. The entropy being fraud.
frances snoot | October 30, 2009 at 7:35 am |

@Phil & Illya:

Mushy, what’s up today? Maybe the stokey of the fag–smokey, eh?
frances snoot | October 30, 2009 at 7:40 am |

@Chalcie:
“Christianity in the west is mostly a license to do evil now,”

Things have changed?
frances snoot | October 30, 2009 at 8:11 am |

Why does everyone divorce the discussion of risk from discussions concerning derivatives? The object lesson should be: risk increases profit margin, derivatives enabled greater risk per collateral base. The big boys want to eliminate competition while maintaining an advantage. That is the driver for the bank regulations coming out of the BIS.

Here is the link of a man completely devoid of any risk opportunities courtesy Youri:
http://www.youtube.com/watch?v=BwmyJAEnz4s

No risk! The man is completely safe!
stacyherbert | October 30, 2009 at 8:14 am |

@frances snoot – risk is one of the primary issues Max talks about re: derivatives; it is leverage that is used to increase profits and it is this leverage that creates risk
TJ | October 30, 2009 at 8:14 am |

@ all

Capitalism A Love Story

I wouldn’t go pay to see it so those who feel the same can catch it here

http://www.surfthechannel.com/video/61506/1267159.html

Not great but it may do some good.
Scott from Oregon | October 30, 2009 at 8:19 am |

http://www.dailypaul.com/node/112628

Here, in a nutshell, is the problem with the problem in American Governance…

You have two people agreeing on what the problem is (basically) but two completely different solutions– diametric ones at that…

Just the way the corporate world likes it…
frances snoot | October 30, 2009 at 8:22 am |

@Stacy:
Hello!

If you want to argue semantics, then: derivatives become the vehicle for increased and unsustainable leverage.

But the point now being is that mandates on risk are driving the regulatory reform measures out of Basel Committee:
http://www.federalreserve.gov/newsevents/testimony/bernanke20091001a.htm
frances snoot | October 30, 2009 at 8:25 am |

Bernanke’s wind-up yields fruit in the next-to-last paragraph:

“Unfortunately, the current regulatory and supervisory framework for systemically important payment, clearing, and settlement arrangements is fragmented, creating the potential for inconsistent standards to be adopted or applied. Under the current system, no single regulator is able to develop a comprehensive understanding of the interdependencies, risks, and risk-management approaches across the full range of arrangements serving the financial markets today. In light of the increasing integration of global financial markets, it is important that systemically critical payment, clearing, and settlement arrangements be viewed from a systemwide perspective and that they be subject to strong and consistent prudential standards and supervisory oversight. We believe that additional authorities are needed to achieve these goals.”

Who’s we?
Photoception | October 30, 2009 at 8:25 am |

WTF?

“NYSE sees little impact from high-frequency probe”

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN3041377020091030

“SEC Chairman Mary Schapiro said this week that there was “a lot of concern” about high-frequency trading. The regulator plans to issue a discussion paper on the issue early next year and proposals by the middle of 2010.”

Good work Schapiro. Max is right about wall st. they could care less about what is “legal.”
doomandbloom | October 30, 2009 at 8:35 am |

what would be the impact of a forced $ devaluation ?
Warren | October 30, 2009 at 8:36 am |

Leitaer’s views on derivatives and world economy in 1997 were so right on.

Bernard Leitaer in 1997
mike | October 30, 2009 at 8:55 am |

Will Ben Bernake Crash this market to prove they are extreme power will a audit cause the banker to manipulate the stock market and crash it YES I THINK THEY WILL!!!!!!!!!!!!! You should be prepared for the Banker war we are heading into!!!!!!
frances snoot | October 30, 2009 at 8:59 am |

It’s really a matter of focus.

If a pain is radiating up and down one’s leg due to a sciatic nerve pinch, then having leg surgery won’t help.

The money controllers would be those that handle and *poof* create the currency: the BIS via the FED, Comptroller, Banking interests vis-a-vis Government, IMF operating the currency change-a-bout. (Of course the hidden layer is behind these forces, the uber-rich)

The same controllers are now the guardians of a reform. Does that SOUND good?

http://www.occ.treas.gov/ftp/release/2009-127b.pdf

note the focus on systemic RISK
Phil | October 30, 2009 at 8:59 am |

@Warren .. 1997 Thanks .. very good article !
frances snoot | October 30, 2009 at 9:01 am |

http://www.reuters.com/article/politicsNews/idUSTRE59P3UL20091026
Amandip Singh | October 30, 2009 at 9:03 am |

@ fibo Mr Spock video

Wondering if people actually stored and so much water as they were recommending in video.

@ Chalcedonite Voluntarism was not known of in the east

Please correct me if I interpreted your words wrong.

Voluntarism has been a very important part of our society. In my part of country, society and religion Volunteerism is an integral part of our belief system its called “Sewa” which is selfless service of humanity, means helping other humans with food, clothes, shelter and knowledge without seeking anything in return.
frances snoot | October 30, 2009 at 9:06 am |

“The Federal Reserve is authorized to prescribe risk management standards (after consulting with Council and the relevant supervisory agency) for the systemically important payment, clearing, or settlement activities conducted by financial institutions.”

This doesn’t sound so good.

Getting the ole carving knife sharp!
frances snoot | October 30, 2009 at 9:23 am |

OCC at work in 2004:

http://www.banking.state.ny.us/sp040128.htm
Dante | October 30, 2009 at 9:26 am |

Oh Boy, Threats!

Kansas City Fed president Thomas Hoenig is circulating a book titled “The Balance of Power: The Political Fight for an Independent Central Bank.” Charles Plosser of Philadelphia said on Sept. 29, “we must preserve” the Fed’s structure.

Must? That implies that there is an “or else” in there somewhere… let’s see…. can I find an “or else”?

U.S. stocks, bonds and the dollar would collapse if investors perceive Congress violating the independence of the policy-setting Federal Open Market Committee, said Former Fed Governor Laurence Meyer, now vice chairman of Macroeconomic Advisers LLC.

There it is!

The Fed has arguably violated the black-letter law of Section 14 of The Federal Reserve Act. Section 13(3) currently allows The Fed to make loans under “unusual and exigent circumstances” as it sees fit but nothing in Section 13(3) permits it to purchase assets by printing new bank reserves – that is, by printing money. That function is controlled by Section 14, and a plain reading of that section does not disclose any legal authority to buy Fannie or Freddie paper, nor the assets of Bear Stearns and AIG. Yet all of these programs were in fact put in place and continue to this day.

http://market-ticker.denninger.net/archives/1559-Oh-Boy,-Threats!.html
frances snoot | October 30, 2009 at 9:31 am |

http://www.thefreelibrary.com/Gunfight+at+the+Basel+II+corral:+as+the+dispute+brews,+will+the…-a0113564066

OCC servicing BIS:
http://www.bis.org/bcbs/jointforum.htm
Dante | October 30, 2009 at 9:38 am |

http://market-ticker.denninger.net/archives/1559-Oh-Boy,-Threats!.html
Dante | October 30, 2009 at 10:03 am |

Ratigan Discusses The Conflict Between Geithner And Bair On How To Resolve Bank Bailouts And Who Should Pay

Among Dylan’s musings on the sham regulatory overhaul proposal, and the behind the scenes political bickering, is this question “Why is it legal for the US banking system to take infinite risk in a financial gambling parlor in secret and use taxpayer assets.”

http://www.zerohedge.com/article/ratiga … who-should

http://www.msnbc.msn.com/id/31510813/#33549308
buddhabob | October 30, 2009 at 11:56 am |

I can still remember when Hippies and students in Santa Barbara circa 69′ burned down the Bank of America there. I remember well how that was an act that was labeled a high crime by the Media. Something along the line of the Holocaust.

The propaganda in this rat hole of a culture is so ubiquitos and so nefarious that I often feel as if I am living in the movie
“Invasion of the Body Snatchers”. Either the original or the remake is an excellent description of what America has become in a very,very short time, I recommend if you haven’t seen it you should. Very entertaining on the surface, very resonant far beneath.
Chalcedonite | October 30, 2009 at 2:21 pm |

@ singh
“sewa” promises divinity in return of selfless service. right?

@ Snoot
“Christianity” has changed.
Illya Kuryakin | October 30, 2009 at 4:30 pm |

@frances
Mushy, what’s up today? Maybe the stokey of the fag–smokey, eh?

Duuuude, gay much?
frances snoot | October 30, 2009 at 6:32 pm |

@Chalcie:
How?
frances snoot | October 30, 2009 at 6:34 pm |

@Illya:

Are you the love child of Oscar Wilde and Oscar Wilde?