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Before you think Obama is right about this, I would suggest you understand exactly what's going on. You might be a little scared.
Please give me a major freakin break. Absence of sufficient and proper Federal regulations on Wall Street "risk taking" (aka greed) is the reason that this economy has been brought this low this time around. Wall Street was able to get what they wanted for decades, and look what they did with their power and influence. That guy Asness needs to shut his pie hole.
Before you think Obama is right about this, I would suggest you understand exactly what's going on. You might be a little scared.
Quote:
Originally Posted by ParkTwain
Please give me a major freakin break. Absence of sufficient and proper Federal regulations on Wall Street "risk taking" (aka greed) is the reason that this economy has been brought this low this time around. Wall Street was able to get what they wanted for decades, and look what they did with their power and influence. That guy Asness needs to shut his pie hole.
KrissyK is right ParkTwain. You should first try to understand what it means to be a secured creditor (investor), who invested money on the contractual promise they would get paid in full before unsecured creditors got a single penny, before you open your "pie hole." This isn't about Wall Street regulation, this is about investors being screwed out of good-faith money that they put forward to keep the company afloat. Your *******ness is shining through and through.
KrissyK is right ParkTwain. You should first try to understand what it means to be a secured creditor (investor), who invested money on the contractual promise they would get paid in full before unsecured creditors got a single penny, before you open your "pie hole." This isn't about Wall Street regulation, this is about investors being screwed out of good-faith money that they put forward to keep the company afloat. Your *******ness is shining through and through.
You tell me that no bond investor understands that there is such as a factor known as "political risk"? Please. These are not normal times when it comes to regulation of the securities biz.
IMO it is horrible and scary what Obama is doing...He wants to control everything and is sounding more creepy everyday...Most people are just jealous of succesful hedge fund managers who made a lot of money and wished they could have done it them self....how will they react whan a hedge fund is losing money....on top of that there is a lot of stress being a hedge fund manager and just to be clear...I'm not related to any hedge fund manager or have any money in a hedge fund, but i know what Obama is doing is destroying Capitalism and free markets...the man wants to run the one man show called Obama or Oprompter!
IMO it is horrible and scary what Obama is doing...He wants to control everything and is sounding more creepy everyday...Most people are just jealous of succesful hedge fund managers who made a lot of money and wished they could have done it them self....how will they react whan a hedge fund is losing money....on top of that there is a lot of stress being a hedge fund manager and just to be clear...I'm not related to any hedge fund manager or have any money in a hedge fund, but i know what Obama is doing is destroying Capitalism and free markets...the man wants to run the one man show called Obama or Oprompter!
Without any checks and balances is what led this country in the mess we are seeing today... Greed is the enemy here, corporate and wall street greed!
Please give me a major freakin break. Absence of sufficient and proper Federal regulations on Wall Street "risk taking" (aka greed) is the reason that this economy has been brought this low this time around. Wall Street was able to get what they wanted for decades, and look what they did with their power and influence. That guy Asness needs to shut his pie hole.
Yes. This was discussed quite a bit backwhenithappened. Their basic excuse was "We had a contract". That's exactly what BOA/Merrill Lynch said when they handed out those big bonuses right after they got bailout money. Remember the Union people's response? It was "We had a contract too". But they were willing to negotiate, as were the Banks. The government might as well stay home if all the participants won't bargain in good faith.
People have lost their life savings, their jobs, and their homes. And these guys say their customers have to make what the contract says. They are luckier than they deserve if they make any. They like to say their investors are retirement plans and so forth. Oh yeah, they've done a great job for those people already, haven't they? Mine is less than half what it was a year ago.
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