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^^^ Why the House-passed Bill is helpful / needed and corrected over-reaching on the part of the Dobb-Frank Act Sir. Why it is the correct and responsible thing to do, as well as explaining the unintended harm done to small banks because of this Act. Why it needed reigning in.
This was the purpose of the two articles presented for Your response.
^^^ Why the House-passed Bill is helpful / needed and corrected over-reaching on the part of the Dobb-Frank Act Sir. Why it is the correct and responsible thing to do, as well as explaining the unintended harm done to small banks because of this Act. Why it needed reigning in.
This was the purpose of the two articles presented for Your response.
Of course the backers of the bill will say it is responsible and correct thing to do. It grants the president all kinds of new authority to directly influence the financial markets, while the constitution says that is the duty of the Congress. For example the president could fire the directors of Fannie May and Freddie Mac with the snap of his fingers, and the same goes for Consumer Financial Protection Bureau. It also gives the Congressional boards to defund financial Customer Protection agencies. No votes needed.
It is being sold as a help for small banks, but no one knows what else is buried in those 600 pages.
^^^ Thank You Sir for further comment. It gives us ( youth ) a direction toward further inquiry from those agencies stated. I did not consider the powers it would lend any Presidency / Congress. Very helpful commentary.
All these rah-rah-rah trump supporters who like the idea of letting banks do what they want, don't get it. The real cheerleaders behind this are the same banks/entities that led to the Big Collapse, the Great Recession that lasted longer than the Great Depression. Goldman Sachs is laughing all the way to THEIR bank.
I guess trump supporters have no assets, no 401Ks, etc. The rest of us should be worried as the next financial downturn looms. Wall Street fat cats shield themselves, none of them went to jail last time; they will be bailed out again, after they scarf up their profits before the bubble
Not much problem with growth modeling, if its done the "right way"... "Stability First" !!!!
Local Banks should not be under the constraints that Regional Banks, nor should Regional Banks be under the constraints that National Banks, nor should National be under the constraints of Internationall Banks. BUT... IN EACH SECTOR Reserves should be at a level of responsibility. Local, Region and Nationals need to be very well controlled in the services they offer and have ability to stability provide.
NO MORE CASINO GAMES...
Previously, with Dodd Frank, it was in place to "stop down fall and madness", it did not have time to deal with all the particulars, so it had to cover massive territory in regards to stopping the economic melt down. Repeal is not the proper term, "Modification and Amendment" if the nature and responsibility of what Regulatory Governance should engage.
When Glass-Steagall Act was removed, it should have made adjustment to what are reserves- America unfortunately was in a upturn on the economy because the inflow of international goods created mass capital, right on the heels of a system that was rife with drug money from the 80's and early 90's... M1 was high, moving from the Floridian areas to the West Coast and filtering to the Mid West and East Coast Exchanges.. It created "fiction" as in "short term prosperity" that did not consider to address reserves before it moved to such de-regulations of the system, to create mega banks. We had many things spinning, from Junk Bonds, to Drug Money, to Stock flips and spins, M & I and the Tech Boom.... this fuels run away Office Floor Space building, that led into massive housing building and still... Reserves were not modified at any step or stage.
Trump however does not think in such terms, because he is a Megalomaniac, and it infects his choices and how he goes about to engage it. Trump also did not come to his wealthy by honorable system responsible means, nor did he ever have respect or regard for regulatory responsibilities. So in that regard we will get what we get, which is a long spanned "tussle" of ideological wrangling. if we get passage, it may be far less detailed than it needs to be.
Local Banks should be able to craft mortgages to fit with their economy, in such, i.e. a economically depressed areas, should be able to increase home ownership, by low amount low interest loans, that are not traded off and packaged to be sold into Bonds that fall into the hands by any means to Derivatives Traders. Derivatives should be limited and regulated and within the areas of National and International Banking Instruments must be managed well. With solid checks and balances above what currently exist.
Now, what is within the plan, we need to know, and we need to know how it plans to manage reserves, and what regulations are to be changes, omitted, managed or of ease to be violated... so, no one page plan will suffice. There is should be no secrecy because the American people need to either support or reject it on the merits of what is best for the country, the people and the future.
Consumer Financial Protection Bureau, should be strengthened... not weakened, and we should NEVER allow any moves that bring us closer to creating the type of system that Russian has.... nor should we push for any Presidential empowering to the levels of what Putin has over Russia, its Banks, Its Infrastructure, its General Economy and its Industry, ultimately over its people.
The Constitution matters, and it should not be confounded by the powers of the Financial and Banking Industries and their Collateral entities of Insurance and Brokerages....
Publicly Publish the Plan and the Report and let it be assessed, before any House or Senate vote is put forth on such things.... !!!!!!
The public needs to become smart, aware, and cognizant of what it supports... that means, gain information, develop knowledge and get understanding, and then make choices based on the wisdom's gained from the past .... !!!! Otherwise we suffer the consequence...from presumptuously desperate shoot from the hip moves....
Last edited by Chance and Change; 06-09-2017 at 02:36 PM..
The large banks, Chase, Wells Fargo and others have grown significantly under Dodd Frank while consumer banks have closed because of the restrictions, That is what needs to be addressed, I don't see any other valid reasons for this legislation. The question remains what are the significant problems with Dodd-Frank that need to be resolved.
The large banks, Chase, Wells Fargo and others have grown significantly under Dodd Frank while consumer banks have closed because of the restrictions, That is what needs to be addressed, I don't see any other valid reasons for this legislation. The question remains what are the significant problems with Dodd-Frank that need to be resolved.
And while I agree, do you really trust the current cast of goons to both identify and remediate complex problems like that?
I use credit unions, haven't done business with a large national bank in 15 years. More people should do the same. The Wall Street banks are run by crooks and both parties want to legalize their criminal behavior. When they fail due to their shady practices taxpayers are expected to bail them out. Wall Street wants unlimited welfare for itself but none for the middle class.
How many Static and Semi Static Trillions is the American System, Its global assets this Nation and its Economy worth....? One can best bet these "quick spin run up a buck and grab the loot goons have been factoring such things, Trumps see's a Trillion Dollar Infrastructure as a pittance, to be played with looted and encumbered. Any man who would submit 900+ million Tax write off IN A SINGE YEAR, has no regard for our system, he has "among his interest" the want to build his empire and store up a bulwark for his family legacy.... Thus so, if he can open the system without Consumer protection and without regulatory governance, money can flow from any place unchecked. One can't forget he already pushed to have minerals to not be required to report their point of origin. MONEY WASHING MADNESS....
People have to remember, this man campaigned on "DEAL MAKING".... !!!! American is not some Deal!!! This is a Civil Institution which is a Republic that is based on Democracy. We need no Monarchical elements, thus we need to realize that it is by Regulatory Governance that this Republican Stands, and it is the Democratic system where each person is valued and their voice counts.
We no longer live in a world of old, where things were factored in millions, we now have individuals that have 100's of millions and 10's of billions, and we see companies bought and sold for billions and we have companies that claim asset value of fractions from a Trillion.... We need to see what we are dealing with... and the change in denominations that is of matter at the upper levels. If we are not careful we will see spike-crash and inflation that makes our money small, and desperation that grips the global sphere. People need to pay attention!! European nations are facing economic challenges, and the entities that have the money is the Asian Pacific, and Far East, and then Russia... when we mis-step... we will have hell to pay.... If such happens and we get even competition from China as to Reserve Currency, suddenly, then Russia's money will look far better than it looks today and ours will look far worse. There is far too much "Selective Amnesia" within the American public!!!!
We need to see clearly what is being undertaken.. And its like an act of "Bum Rush" upon and against the people, because as he campaigned, he said, "he loved the uneducated", and so is how he see's the people. He steam rolled over the Republican system and ALL of its candidate and silenced the Republican Party, people need to understand how that resonates in the mind of a Megalomaniac and then he won by the cajoling of the people, (along with Russian intervention by many means, including distortion, which gave him the pretense that he had silenced too, the Democrats, thus he feels nothing stand between him and seizure that he can stand in the framework of the man he admires most, Putin.....!!!!
Americans needs to awaken from the fantasy of desperation and become responsible....
Any Acts that address our banks will impact our markets and our interest rates and everything else that involves the financial dealing of this nation. It takes time to craft the measures to deal with the levels of banks and to do it securely. Trump does not think in those terms. He said, during the campaigning, that "so what if American Defaults on its Debt, he will just Re-negotiate it. (That's the levels of insidiousness this man thinks) he still does not get it, he's a two city, 10 block developer, that has no concept of the broadness of the work, and the dignity of other nations and their commitment and responsibility to their citizen population. People did not pay attention when he was at the NATO conference. Trump stomped around with a "screw these other nations demean and posture as if to say: I'm the Big Dog".. and then he talked to them as if he was such.
Trump is guaranteed to weaken the level of required Reserves and try and claim it is backed by shifty bonds, that are no different than what is a Junk Bond, 'we already saw the bond rating was up for game in the last decline, what make people think they will change if the "over watch that was put in place? and once this half baked gamble is done, the Casino is Open for Business .... AGAIN....
We have a Megalomaniac Buffoon in Office.. No one knows what Gods Plan is, but maybe its to humble America on the World Stage and take it off the perch, until we learn that Greed is what damaged this great design and its great Democracy, and as it is, it seems only devastation brings people together. We may be brought down before we can build back up with a better premise.
President Obama, tried to get us to wake up, he said, Re-invest in American and let's build from the bottom up on a level playing field where every-one has an opportunity to participate and engage the the great system and enjoy this nation and its democracy... where our capitalistic model can benefit all and protect and care for all the concerns of this nation, while we still help the world. People Rebelled!!!!!! They even ignored that within a short time he lifted us out of the worst Depression since 1929, and still many have no idea to regard such works... Now we have a megalomaniac that is playing to peoples impatience, claiming he can wave the magic wand they expected Obama to have and wave... and Trump is here telling us, he can "cut deals' that give us instant prosperity.
Pure Absurdity .... Its kinda the same thing Hitler told the Germans... and we saw how that turned out.
Obama did not come with that kind of nuttiness, he said.. Let's Build from the Bottom Up, and he said, it takes time and it takes the support and work of everyone and ... people stepped back.. and waited for him to do it by himself, and then he had to fight off the "internal wolves" at every step, who pledged to attack him with ever step he takes.
Now, the people got what they asked for... is a fool with a whimsical fantasy that he's some magician... and already we see in less than 100 days we have a rift in our long held European Alliance, We have made deals with the Arab nations, who does not have the best interest of America at heart, if they did have same concerns, they would have stepped up a decade or so ago to squash the elements that destabilized the Middle East. But, they see a means, to get help only to deal with the power grabs of Saudi Arabia vs Iran... as aim to be the power player of the region.
We have today, the Secretary of State saying one thing about Qatar, and then Trump contradicts him within the hour.... It's mass CHAOS.... There is "no nation in the world that can be Our Physician and help heal us"... and we are wrapped in internal conflict and cannot heal ourselves. .....
Many nations "have worked and is working to position themselves to move on without us. and we saw that when Trump declared he will Exit the Paris Climate Accords.
Do we understand that we can't make it without imports and borrowing???? The rest of the world has figured it out. and they are positioning themselves that they are not to go down with the American Ship.... The last Republican Administration convinced them solidly of that fact... it left many nations in dire straits and a Middle East in Turmoil still more than a decade later... They too proved, that we can't win any foreign war... so the world of nations is embolden to take care of themselves, they will not let us drive them into another war, when we can't get out of the one we are "still" in within Afghanistan, and here we are making rumblings and talking about ramp-ing up for more troops to Iraq again... and Syria....
Last edited by Chance and Change; 06-09-2017 at 10:42 PM..
All these rah-rah-rah trump supporters who like the idea of letting banks do what they want, don't get it. The real cheerleaders behind this are the same banks/entities that led to the Big Collapse, the Great Recession that lasted longer than the Great Depression. Goldman Sachs is laughing all the way to THEIR bank.
I guess trump supporters have no assets, no 401Ks, etc. The rest of us should be worried as the next financial downturn looms. Wall Street fat cats shield themselves, none of them went to jail last time; they will be bailed out again, after they scarf up their profits before the bubble
Oh what fun it must be to live in a fragile world of assumptions...
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