Obama seeks remake of Fed's powers

C

codetroll

"President Barack Obama is expected Wednesday to propose a sweeping reorganization of financial-market supervision, including remaking the powers of the Federal Reserve, The Wall Street Journal said in a report on their Web site dated Monday."

"give the government the power to unwind and break up systemically important companies..."

Interesting to say the least.

http://www.marketwatch.com/story/obama-seeks-remake-of-feds-powers-wsj

http://online.wsj.com/article/SB124502035340513635.html

-troll
 
sounds like the financial elites are warring against each other in an effort to root out competitors. this isn't likely to benefit anyone other than the most powerful of financial elites. consolidation of power into fewer and fewer hands.
 
When government possesses the power to decide upon the faith of companies in which it doesn't even hold a majority stake, capitalism is over.

The only effect this is going to have is that American companies can't grow past a certain point meaning that powerful American companies will cease to exist, thus destroying American global competitiveness. This is just another move that will transfer the financial power and wealth to other countries.

I'm beginning to doubt whether Obama is good-willingly stupid or just want bad things to happen for the US.

As said before, the road to hell is paved with good intentions. Too bad the decision makers are too stupid to see the consequences of their own actions.
 
this is what i mentioned before for an easy way to create jobs. redudancies at companies when they are taken over are shed so now when they are spun off they have to be added back.....unless they outsoursce them lol
 
Quote from Carbonator:

"... I'm beginning to doubt whether Obama is good-willingly stupid or just want bad things to happen for the US.
More...

"Beginning", you say? Was evident to some of us during the campaign.
 
Quote from dewton:

sounds like the financial elites are warring against each other in an effort to root out competitors. this isn't likely to benefit anyone other than the most powerful of financial elites. consolidation of power into fewer and fewer hands.
More...

This concept of financial war (FINWAR) has popped up a few other places as well. I felt it was more credible when Bear was toppled after Spitzer's neutralization. But there were unintended consequences after LEH's collapse. An interesting concept.
 
Fox news and other critics will be considered 'systemically important' and be closed just before the 2012 election :D
 
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