Why isn't restoring Glass-Steagal even being discussed?

Topspin said:
sorry
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Dude you dont have to know them personally to know they rationalized what they were doing as fair game even though they knew what the result would be in the end.

They screwed the pooch and its evident in their own emails they knew they were screwing the pooch.

I say we put up some ground rules for them so they dont have to get their little brows all sweaty trying to rationalize why they deserve the checks that resulted from them screwing the pooch. I am sure they spent way too many hours convincing themselves the pooch wanted them and found them irresistable but just could not articulate it in the proper manner. They then, Im sure convinced themselves that the biting the dog was doing while being screwed was just excitment at receiving the screwing it sooo desired. The end result was the pooch still got screwed.

Look its human nature to hunt and gather. We are a competative lot. Some more so than others and the "some more so" often end up in these positions fighting their moral code to try to out hunt and gather the other guy.

Lets free them of a chunk of their little worries and give them some guideposts.

They will be so much happier in their endevors, Its all just becuase I love them soooo much Toppy.

Now CAN WE ALLOW THE DISCUSSION TO TAKE PLACE??
 
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I'm all for tighter regs, you can't legislate away greed. I agree with it not being tied to banks that could hurt main street. I think it's childish to make them villans.
 
Topspin said:
I'm all for tighter regs, you can't legislate away greed. I agree with it not being tied to banks that could hurt main street. I think it's childish to make them villans.
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They are fucking villains when they set their clients up for trades just so they can take the other side. It;s fucking duplicitous and criminal to the core.
 
AssHatZombie said:
They are fucking villains when they set their clients up for trades just so they can take the other side. It;s fucking duplicitous and criminal to the core.
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Please open an account and make a dozen trades and read something before pretending to understand. It's obvious you don't.:gives:
 
Topspin said:
After watching Senators from both sides yestarday I doubt they understand glass stegal.
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I think they understand the fundamentals of it, which the author listed. The problem is the incestuous relationship between the Ivy leagues, Wall Street and DC.

Wall Street has so thoroughly lined the pockets of both parties that it convinced them to repeal Glass Steagall. They are currently fighting the weak ass attempts at reform that are being put forth. Their efforts would increase ten fold if they thought Glass Steagall had a chance at coming back.
 
Topspin said:
Please open an account and make a dozen trades and read something before pretending to understand. It's obvious you don't.:gives:
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It's obvious you're in denial. They're nothing complex or intellectual about creating bubbles and then timing the pop and pulling out just before. it';s just white collar crime. They will all be perp walked.
 
Let's do this. Let's just skip ahead to the global bank and put all these manhattanite bankers out of business. Ill do it just for spite. God bless the new world order, just punish the banker parasites for their lies, and I will gladly work in the noahide mine. OR just take the euthanasia pill so as not to belabor the horror of the unfolding of my life.
 
Toppy they are just the reality of what Ayn Rand thought was the superman.

They are the reason communism is the best form of government only on paper.

They are us only moreso.

Im a housewife and the reason Im a housewife is that I am far too much more like Jesus than I am like them. Now keep in mind to me Jesus was just a guy. Just a guy like Gandi.
 
AssHatZombie said:
It's obvious you're in denial. They're nothing complex or intellectual about creating bubbles and then timing the pop and pulling out just before. it';s just white collar crime. They will all be perp walked.
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it's obvious you are poor and will remain poor, who's that 1999 chevy?
 
Obfuscate said:
It will not be re-instated because the loop hole when it was repealled in the first place was that the Investment Banks did not have Discount Window access nor were they subject to Capital requirements like the Commercial Banks. These items have alreay been addressed, those still calling to re-instate it typically don't understand it or don't realize that the problem in the repeal has actually already been addressed.
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The above shows that YOU don't understand what Glass Steagall's main objective was. It was to keep the commercial banks and retail banks SEPARATE.

The Commercial banks were not supposed to be exposed to the RISK that the investment banks took. That way, if an investment bank created some insane derivative and ended up going belly up, the stock holders would be the ones to suffer... the entire financial market would not collapse (ie... there would not be runs on commercial banks as a result)

If the Commercial banks loaned money out to people, then they either kept the loans on their books OR the loans had to meet the due diligence of potential buyers (meaning they had to be pretty good quality).

Investment Banks SHOULD NOT HAVE ACCESS TO THE DISCOUNT WINDOW.... otherwise, they do EXACTLY what they are doing right now. They borrow at the Fed Funds rate 0-0.25% and then use that money to buy Treasuries. They lock in the difference and make a mint.... JUST LIKE THEY DID LAST YEAR and are doing again this year.

Glass Steagall should ABSOLUTELY be put back in place.

It creates a natural fire wall between the investment banks and commercial banks. It is 100% necessary.
 
Superfreak said:
I think they understand the fundamentals of it, which the author listed. The problem is the incestuous relationship between the Ivy leagues, Wall Street and DC.

Wall Street has so thoroughly lined the pockets of both parties that it convinced them to repeal Glass Steagall. They are currently fighting the weak ass attempts at reform that are being put forth. Their efforts would increase ten fold if they thought Glass Steagall had a chance at coming back.
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awhhh money in politics, there's a new newsflash:clink:
 
Superfreak said:
The above shows that YOU don't understand what Glass Steagall's main objective was. It was to keep the commercial banks and retail banks SEPARATE.

The Commercial banks were not supposed to be exposed to the RISK that the investment banks took. That way, if an investment bank created some insane derivative and ended up going belly up, the stock holders would be the ones to suffer... the entire financial market would not collapse (ie... there would not be runs on commercial banks as a result)

If the Commercial banks loaned money out to people, then they either kept the loans on their books OR the loans had to meet the due diligence of potential buyers (meaning they had to be pretty good quality).

Investment Banks SHOULD NOT HAVE ACCESS TO THE DISCOUNT WINDOW.... otherwise, they do EXACTLY what they are doing right now. They borrow at the Fed Funds rate 0-0.25% and then use that money to buy Treasuries. They lock in the difference and make a mint.... JUST LIKE THEY DID LAST YEAR and are doing again this year.

Glass Steagall should ABSOLUTELY be put back in place.

It creates a natural fire wall between the investment banks and commercial banks. It is 100% necessary.
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Yeap , and the reason it fell was the commercial lenders had already started to do this and it was end the law or police the banks. The governement got convinced to end the law instead of inforce it.
 
Superfreak said:
Glass Steagall should ABSOLUTELY be put back in place.
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Not going to happen nor should it. It wasn't the repeal of Glass Stegal that caused Fannie and Freddie to own 52% of the Mortgages and have 70/1 leverage and it wasn't Glass Stegal that had a 1% funds rate. It did allow Commercial banks investment sides to leverage way up so when there was a crash they couldn't sustain it but that is no longer an issue with discount window access and Capital Requirements.
 
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