Forced to look at Retirement Savings (puking)

Superfreak said:
lol... sure dung... whatever you say... desh 2.0 you are
Click to expand...


What specifically have I said that you think is incorrect? That the regulatory agencies had 18 months to implement regs? That the regs were in fact implemented in 18 months? That the Bush Administration delayed the effective date of the regs over and over?
 
I don't know how to post youtube clips and am unwilling to take the 15 seconds to figure it out, but I'd love to post that scene from Planet of the Apes where Charlton Heston is in the cage getting hosed down by an ape, just screaming "It's a madhouse! It's a madhouse!"
 
evince said:
Developments of Note

The FRB and the SEC approved Regulation R ("Final Regulation R") implementing the bank broker push out provisions under Title II of the Gramm-Leach-Bliley Act of 1999 ("GLBA"). A bank or thrift (collectively, a "bank") must start complying with Regulation R on the first day of the bank’s fiscal year starting after September 30, 2008, which for many banks will be January 1, 2009.

Regulation R was proposed by the FRB and the SEC jointly in an effort to resolve a years-long impasse between the SEC and banks regarding the appropriate interpretation of 11 statutory exceptions in the GLBA. The exceptions were intended to preserve bank activity after Congress repealed the blanket bank exception from broker regulation. The repeal was long-sought by the SEC in order to provide for functional SEC regulation of bank broker activities in response to banks’ entry into broader financial services securities activities, including the retail sale of mutual funds, in the 1980s.

To provide greater certainty to banks, the SEC made several attempts to issue regulations (proposed Regulation B in 2004 and the Bank Broker-Dealer Interim Final Rules in 2001) – these attempts were criticized by banks, banking agencies, and some members of Congress. Last fall, in adopting the Financial Services Regulatory Relief Act of 2006, Congress required the SEC to withdraw its rules and issue new rules jointly with the FRB in consultation with the other federal banking agencies.

Final Regulation R generally reflects proposed Regulation R, but also addresses banks’ concerns regarding legal and enforcement risk and contains further easing of bank regulatory burden in discrete areas, notably the "chiefly compensated" income test for exempted trust/fiduciary activity, the types of referral compensation permitted under the networking exemption, the scope of exempted custody activity, sweeps of deposit funds collected by another bank, and exempted transactions in variable insurance products effected with an insurance company.

Significant changes made by Regulation R, in comparison with previous proposals, are summarized below.



http://www.mondaq.com/unitedstates/x/52888/Fund+Management+REITs/FRB+and+SEC+Finalize+Regulation+R
Click to expand...

She won't see this. It's hard to see what refutes your assertions when you want to be right so badly.
 
Damocles said:
She won't see this. It's hard to see what refutes your assertions when you want to be right so badly.
Click to expand...

why do you pretend I have not already conceded points right here in this thread?


maybe you need to take a second look at your ability to be fair
 
Damocles said:
You mean the law that failed to give the FED, or any other regulatory agency, the power to regulate large investment companies signed by President Clinton in 1999? The law that passed with strong D support, very strong.

Point out which ones you are talking about, Desh.

http://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act
Click to expand...

dude what we are discussing is part of the bill that was held back from enforcement for nearly a decade under Bush
 
evince said:
Developments of Note

The FRB and the SEC approved Regulation R ("Final Regulation R") implementing the bank broker push out provisions under Title II of the Gramm-Leach-Bliley Act of 1999 ("GLBA"). A bank or thrift (collectively, a "bank") must start complying with Regulation R on the first day of the bank’s fiscal year starting after September 30, 2008, which for many banks will be January 1, 2009.

Regulation R was proposed by the FRB and the SEC jointly in an effort to resolve a years-long impasse between the SEC and banks regarding the appropriate interpretation of 11 statutory exceptions in the GLBA. The exceptions were intended to preserve bank activity after Congress repealed the blanket bank exception from broker regulation. The repeal was long-sought by the SEC in order to provide for functional SEC regulation of bank broker activities in response to banks’ entry into broader financial services securities activities, including the retail sale of mutual funds, in the 1980s.

To provide greater certainty to banks, the SEC made several attempts to issue regulations (proposed Regulation B in 2004 and the Bank Broker-Dealer Interim Final Rules in 2001) – these attempts were criticized by banks, banking agencies, and some members of Congress. Last fall, in adopting the Financial Services Regulatory Relief Act of 2006, Congress required the SEC to withdraw its rules and issue new rules jointly with the FRB in consultation with the other federal banking agencies.

Final Regulation R generally reflects proposed Regulation R, but also addresses banks’ concerns regarding legal and enforcement risk and contains further easing of bank regulatory burden in discrete areas, notably the "chiefly compensated" income test for exempted trust/fiduciary activity, the types of referral compensation permitted under the networking exemption, the scope of exempted custody activity, sweeps of deposit funds collected by another bank, and exempted transactions in variable insurance products effected with an insurance company.

Significant changes made by Regulation R, in comparison with previous proposals, are summarized below.



http://www.mondaq.com/unitedstates/x/52888/Fund+Management+REITs/FRB+and+SEC+Finalize+Regulation+R
Click to expand...

how is it the banks had so much POWER over what becomes law?
 
evince said:
Oh I thought you had me on ignore now?
hahahahahahahahahahah

poor little No second date nate .

hating people for giving you facts you cant refute is pathetic.


tell me grindage was uscitizen right?


are you mad because he was right?

are you mad that I asked a poster to prove his point and then its turns out his point was only half true?
Click to expand...

I know this is going to come as a shock to your fragile sensibilities; but he was talking ABOUT YOU and not TO YOU.
There is a difference. :)
 
Damocles said:
Um... One doesn't have to search hard to find that quantitative easing is happening. In fact the markets fell a bit yesterday based on somebody (the FED chief) stating that they might ease off a bit on that QE3 thing.

And the fact we have the lowest employment participation rate since the Great Depression is a sign that the recovery hasn't really started yet. Now you do know what the word "sign" means, right? Look it up when relating to this kind of thing, it will help you understand that it wasn't stated as "fact" it was noted as one sign of something.
Click to expand...

Hope your bullshit mentality didn't keep you out of the market during this non recovery!
 
You must log in or register to reply here.
Back
Top