The Obama regulatory Financial Supervision reform plan

[ASusilovic]

Here’s it is, 89 pages which promise to “modernize and protect the integrity of our financial system.”

A NEW FOUNDATION: rebuilding Financial Supervision and Regulation

Bullet points:

* Require that all financial firms that pose a significant risk to the financial system at large are subjected to strong consolidated supervision and regulation

* Increase market discipline and transparency to make our markets strong enough to withstand system-wide stress and the potential failure of one or more large financial institutions

* Rebuild trust in our markets by creating the Consumer Financial Protection Agency to focus exclusively on protecting consumers in credit, savings, and payment markets.

* Provide the government with the tools needed to manage financial crises so it is not forced to choose between bailouts and financial collapse

* Raise international regulatory standards and improve international coordination


http://www.financialstability.gov/d...E942=0&bcsi_scan_filename=FinalReport_web.pdf

 

[Scataphagos]

Blah, blah, blah. Just more bureaucracy... more government..

We've had regulations and various regulators all along. What did they accomplish?

 

[ASusilovic]

Quote from Scataphagos:

Blah, blah, blah. Just more bureaucracy... more government..

We've had regulations and various regulators all along. What did they accomplish?

Accomplish ? Well, you mentioned it : bla, bla, bla...

 

[LEAPup]

Quote from Scataphagos:

Blah, blah, blah. Just more bureaucracy... more government..

We've had regulations and various regulators all along. What did they accomplish?

Agreed!

They pick on small B/D's/RIA's as they will write a check to make them go away. The "big boys?" (aka: "Made-Off," BAC, GS, etc.,) they aren't competent to handle, nor regulate.

Just what we needed, another big government agency...

 

[pspr]

At the rate Obama is going, we are all going to be working for the government soon anyway. Well, except for the "rich" who will be paying the taxes.

 

[Eight]

Actually that is what is needed to get the trillions of investment money off the sidelines and back into investing...

 

[topherea]

NO MORE REGULATION T!!! Say it with me all! NO MORE REGULATION T!!!

 

[nutmeg]

Quote from ASusilovic:

Here’s it is, 89 pages which promise to “modernize and protect the integrity of our financial system.”

When I read that line my first thought is, everyone gets a trophy. No one fails, no one gets hurt, the market always go up.

Low and behold I googled everyone gets a trophy and voila, I'm not alone in my thoughts.

"Our Everyone Gets a Trophy Economy"


http://www.realclearmarkets.com/articles/2008/10/our_everyone_gets_a_trophy_eco.html

“The ultimate result of shielding men from the effects of folly is to fill the world with fools." - Herbert Spencer

 

[Landis82]

Quote from Scataphagos:

Blah, blah, blah. Just more bureaucracy... more government..

We've had regulations and various regulators all along. What did they accomplish?

You mean credit default swaps and the $70 TRILLION in notional value were regulated and had a clearing house?

You mean West Texas Intermediate crude oil was allowed to trade on ICE via London and Dubai with CFTC oversight and position limits?

You must be living on a different planet than the rest of us.

 

[walter4]

Exactly.