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Old 05-11-2012, 07:51 AM
 
Location: Texas
5,872 posts, read 8,077,758 times
Reputation: 2971

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Agree that Glass-Stegall repeal should be rolled back. Volker rule would have limited by not prevented the loss due to the Republican and banking lobbies intense efforts to loosen up loop holes already.

This single incident will NOT necessitate a QE3, but ANY defaulting by JPM would send ripples (large ripples) through the entire world i.e. Greece/Spain.

And the WTO would have nothing to do w/ Glass-Stegall.

What I'm waiting for is the true REST of the story to come out. These losses have been moved around and hidden since March. The other shoe has yet to drop.
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Old 05-11-2012, 07:53 AM
 
29,981 posts, read 42,856,313 times
Reputation: 12828
Quote:
Originally Posted by Hot_Handz View Post
Reinstating the Glass-Steagall act is in direct violation of the WTO. It would have to conform to the WTO. Pretty much making it NOT the Glass-Steagall act..

http://www.citizen.org/documents/Fin...SheetFINAL.pdf
Thanks for the info.

Just another reason to get the US out of these Globalist organizations which interfere with our own domestic policies.
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Old 05-11-2012, 07:54 AM
 
8,091 posts, read 5,900,268 times
Reputation: 1578
Quote:
Originally Posted by txgolfer130 View Post
Agree that Glass-Stegall repeal should be rolled back. Volker rule would have limited by not prevented the loss due to the Republican and banking lobbies intense efforts to loosen up loop holes already.

This single incident will NOT necessitate a QE3, but ANY defaulting by JPM would send ripples (large ripples) through the entire world i.e. Greece/Spain.

And the WTO would have nothing to do w/ Glass-Stegall.

What I'm waiting for is the true REST of the story to come out. These losses have been moved around and hidden since March. The other shoe has yet to drop.
It has everything to do with the WTO, which calls for global need for deregulation...

Glass-Steagall directly undermines the WTO..it would be rendered useless if the US is in participation with the WTO.
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Old 05-11-2012, 07:57 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by Hot_Handz View Post
It has everything to do with the WTO, which calls for global need for deregulation...

Glass-Steagall directly undermines the WTO..it would be rendered useless if the US is in participation with the WTO.
It's that good ole "globalization" sneaking up on people again.
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Old 05-11-2012, 07:57 AM
 
Location: Texas
5,872 posts, read 8,077,758 times
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Quote:
Originally Posted by lifelongMOgal View Post
When GWB tried to bring it back the Democrats repeatedly blocked him.
That is complete bunk.
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Old 05-11-2012, 07:58 AM
 
29,981 posts, read 42,856,313 times
Reputation: 12828
Quote:
Originally Posted by txgolfer130 View Post
Agree that Glass-Stegall repeal should be rolled back. Volker rule would have limited by not prevented the loss due to the Republican and banking lobbies intense efforts to loosen up loop holes already.

This single incident will NOT necessitate a QE3, but ANY defaulting by JPM would send ripples (large ripples) through the entire world i.e. Greece/Spain.

And the WTO would have nothing to do w/ Glass-Stegall.

What I'm waiting for is the true REST of the story to come out. These losses have been moved around and hidden since March. The other shoe has yet to drop.
Maybe it already has with the JP Morgan loss. JP Morgan has been deeply involved in this going back to at least TARP.

I recall the Jon Corzine MF Global case of the disappearing money from clients segregated funds also involved a transfer of funds from MF Global to JP Morgan. JP Morgan, with its huge investment in BP oil was in Libya (represented by former British PM Majors) immediately prior to Gaddafi's capture.
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Old 05-11-2012, 08:03 AM
 
8,091 posts, read 5,900,268 times
Reputation: 1578
Quote:
Originally Posted by lifelongMOgal View Post
Maybe it already has with the JP Morgan loss. JP Morgan has been deeply involved in this going back to at least TARP.

I recall the Jon Corzine MF Global case of the disappearing money from clients segregated funds also involved a transfer of funds from MF Global to JP Morgan. JP Morgan, with its huge investment in BP oil was in Libya (represented by former British PM Majors) immediately prior to Gaddafi's capture.
I'm from NJ, born and raised... And it was amazing to me how many people thought Corzine was a true Democrat. What was even more cringeworthy...was how many people did not know he was CEO of Goldman-Sachs. And when I said he bought his seat they looked at me like I was a nutjob.

I always said Corzine was part of the big boy network...and this was on a state level scale. And it's so scary that people are indifferent to the guys higher up on the ladder...

They still believe that they care about us.
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Old 05-11-2012, 08:04 AM
 
Location: Texas
5,872 posts, read 8,077,758 times
Reputation: 2971
Quote:
Originally Posted by Hot_Handz View Post
It has everything to do with the WTO, which calls for global need for deregulation...

Glass-Steagall directly undermines the WTO..it would be rendered useless if the US is in participation with the WTO.
The WTO has NOTHING to do with financial regulation in the sense that Glass-Steagall constrains RISK through regulation not denied access.
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Old 05-11-2012, 08:10 AM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by txgolfer130 View Post
The WTO has NOTHING to do with financial regulation in the sense that Glass-Steagall constrains RISK through regulation not denied access.
Yes it does. Go off an read about what is prohibited by the WTO.
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Old 05-11-2012, 08:14 AM
 
8,091 posts, read 5,900,268 times
Reputation: 1578
Quote:
Originally Posted by txgolfer130 View Post
The WTO has NOTHING to do with financial regulation in the sense that Glass-Steagall constrains RISK through regulation not denied access.
Only in markets allowed by.....drum roll......THE WTO FSA
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