do you think, this could help or he is out of his mind?
http://www.bloomberg.com/apps/news?pid=20601087&sid=azgIuqSiSTsA&pos=1
http://www.bloomberg.com/apps/news?pid=20601087&sid=azgIuqSiSTsA&pos=1
Obama to Propose New Rules on Banksâ Size, Proprietary Trading
- Thread starter belmondo
- Start date
all i know is that you will see volume dwindle to abt Zero, slowly but surely we are getting there.
Once they institute the bank fees, then these rules on bank size/proprietary trading, and eventually a financial transaction tax, it will be game over!!!
Wasn't it last year when Obama stated that he envisioned a much smaller Wall Street, and indicated that in the future, it wouldn't play such a vital role in our economy. Well, he's on track to making that happen, isn't he?
Wasn't it last year when Obama stated that he envisioned a much smaller Wall Street, and indicated that in the future, it wouldn't play such a vital role in our economy. Well, he's on track to making that happen, isn't he?
Obama has the political power of a Rod Blagojevich about now. He's jumping on this quickly after the his MA debacle to score points with his base and the stupid people of America (as he likes to call them).
PR before his "State of the union address"
That's possible. If he didn't bring proposals like this up, what reason would his minions have to give him a standing ovation at the State of the Union address? He certainly won't get ovations with anything else he has done.
This could also be political piling on by Obama to get the bank fee legislation passed, without any intense lobbying/fighting by the banks, in exchange for Congress not passing the legislation he's going to propose today. But fat chance the banks will stand for any of that crap.
What's going to happen to Goldman's share price when the details are announced is what I want to know, they make so much from their prop side - trading all the leaked economic releases early? 
Will the days of hearing the pit squawk go "Goldman sells 2000 just before the figure!" be a thing of the past?
Will the days of hearing the pit squawk go "Goldman sells 2000 just before the figure!" be a thing of the past?
Somebody stop this guy. What business does big brother have in prop trading. Sheesh. If Goldman has the $$$ and edge to do well in prop trading their own money, let them be. Why don't we stop Apple or Microsoft from making too much money while we are at it? What happened to free enterprise? Holy Crap.
Quote from Dogfish:
What's going to happen to Goldman's share price when the details are announced is what I want to know, they make so much from their prop side - trading all the leaked economic releases early?
Will the days of hearing the pit squawk go "Goldman sells 2000 just before the figure!" be a thing of the past?
GS shares will go to the roof, since they would be 1 of the 2 remaining bank left. After our glorious leader is done with financials, who knows if you could even call banking as financial again. Maybe a nicer name to the banking industry would be debt bartering system: DBS for short.
