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(The New Yorker)   The Treasury and the Fed actually do something that will strengthen the financial system   (newyorker.com) divider line 18
    More: Interesting, Federal Reserve, proprietary trading, Volcker Rule, capital requirements, Janet Yellen, Alan Greenspan  
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2230 clicks; posted to Business » on 10 Apr 2014 at 5:44 PM (35 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



18 Comments   (+0 »)
   
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2014-04-10 05:47:41 PM  
Put RONPAUL in charge?
 
2014-04-10 05:53:54 PM  
Jail time instead of fines would be the most rock solid solution.
 
2014-04-10 05:58:16 PM  
They're hanging everybody involved with fraud?  No?  OK then, the problem isn't being solved.  Back to your regularly scheduled corruption.
 
2014-04-10 06:02:14 PM  

azmoviez: Jail time instead of fines would be the most rock solid solution.


Plus they gave the banks the better part of 4 years to collectively put away only $68B.  They could do that easily in less than a year at profit levels like this:

http://www.reuters.com/article/2013/08/29/us-financial-regulation-ea rn ings-idUSBRE97S0O520130829

Plenty of time for more shenanigans before they decide to maybe kind-of-sort-of clean up a bit.
 
2014-04-10 06:29:23 PM  
By cutting up Bank of America?

/one could only hope...
 
2014-04-10 06:53:35 PM  
sales tax for stocks and bonds?

/boy think of the taxes you could cut with that revenue, or buy everybody in America health insurance.
 
2014-04-10 07:17:49 PM  
Create rules that try to ensure that "Too big to fail" financial cornerstones live up to their name?

Hey what do I win?
 
2014-04-10 08:00:56 PM  
Financial stupidity is soon forgotten, particularly if all the money you lost didn't come out of your personal account. In time the bankers will get greedy again, and lobby for some pro free market anti regulation chairman to reduce the capital requirements. It will all happen again and when it does Main St will suffer while the government bails out Wall St again.
 
2014-04-10 09:26:54 PM  
The Treasury and the Fed actually do something that will allegedly strengthen the financial system

fyh
 
2014-04-10 11:04:18 PM  
FTFA: when I got to the Treasury Department, I didn't find much enthusiasm for these ideas. The key thing is capital, a top official told me. If we force banks to hold a lot more capital, he argued, it will do more than anything else to prevent another blowup.

/READ THIS TWICE
 
2014-04-10 11:43:43 PM  
I saw nothing in the article that is going to help our economy.

I might prolong their economy with prolonging their ability to loot the world of their everything. When they continue to counterfeit the money supply they are using everyone's stuff for collateral.

Imagine if the minds that hate had to talk people into giving up something like their retirement funds for their wars against everything.

The people with legitimate reasons to borrow from you are up front about it.

The banking system we have now is nothing but a false front to dole out ever expanding central bank counterfeit for anything they might make a profit on. Anything they don't the loss gets passed on to the unsuspecting.

Maybe I just missed it.
 
2014-04-10 11:49:13 PM  
Whar gold standard? WHAAR!R!!!
 
2014-04-11 12:13:03 AM  
FTA: "If we force banks to hold a lot more capital, he argued, it will do more than anything else to prevent another blowup."

Ummm... they tried that after the initial housing melt-down, and lending (our economy is being duct-taped together with ever-increasing debt) declined, so they did away with it. Likewise, they tried making the banks hold borrowers to stricter standards, with the same results (plus, the Al Sharptons of the country yelling about "underserved*" banking customers getting the shaft). Fortunately (for the bankers), Americans have the attention spans of fleas.


* - people who have little income, bad credit, or both
 
2014-04-11 12:31:15 AM  
Not that it'll matter.  The stock market crash is just getting started.  By this time next week we're all going to be hobos living in Obamavilles
 
2014-04-11 12:54:11 AM  
Well, it's more than nothing, and nothing is generally more than I expect in regards to financial regulation.

How low is the bar when "more than nothing" is something?
 
2014-04-11 12:57:02 AM  

Smeggy Smurf: Not that it'll matter.  The stock market crash is just getting started.  By this time next week we're all going to be hobos living in Obamavilles


But we get some of those free phones, right?

Gotta find the silver lining.
 
2014-04-11 01:26:46 AM  

MurphyMurphy: Smeggy Smurf: Not that it'll matter.  The stock market crash is just getting started.  By this time next week we're all going to be hobos living in Obamavilles

But we get some of those free phones, right?

Gotta find the silver lining.


Yeah but they will give you special Obama cancer which won't be covered by Obamacare because Obama is secretly working on recently discovered Taft Documents which is designed to destroy America
 
2014-04-11 02:49:23 AM  
Unlikely tag not available?
 
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