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I mentioned the consistent regulatory failures on the part of the SEC, the OTS, and the FDIC.
These were the biggest issues that caused the crisis, in my opinion. If I had to single out the 1 biggest problem in my mind it would be the OTS.
What are your opinions on the regulatory changes at OTS, the SEC, and the FDIC from 2000 to 2008?
Do you want to list the regulation failures and the changes made by Bush? And while you are at it, tell me how they affected the world economy, because indeed its a world recessin, not just an american one..
I mentioned the consistent regulatory failures on the part of the SEC, the OTS, and the FDIC.
What are your opinions on the regulatory changes at the OTS, the SEC, and the FDIC from 2000 to 2008?
Regulators are useless bureaucracies. After all the economy went through with Enron, Tyco et al. they still could not see a slew of Ponzi schemes in the making.
Regulators are useless bureaucracies. After all the economy went through with Enron, Tyco et al. they still could not see a slew of Ponzi schemes in the making.
^ This is the aforementioed "GOP-Reagan-Bush philosophy" in a nutshell. Regulators are useless, let's get rid of them and see what happens.
It is a fine ideology, but ideologies need to be put into the context of REALITY. Today's reality is that the banks control the US economy.
Do you want to list the regulation failures and the changes made by Bush?
Quote:
Originally Posted by rubber_factory
No, I want you to demonstrate that you are aware of Bush's financial regulatory policies. I don't think you even know what the OTS is.
I'm very well aware of the OTS, but is this you admitting you dont have a clue what you are talking about? YOU made the accusation that Bush deregulated.. and when I asked you what he deregulated, you listed all kinds of stuff deregulated by Clinton.. Now you want to change the topic to the OTS.. We arent discussing the OTS, we are discussing the deregulation by Bush and how his deregulations caused a world wide economic collapse..
^ This is the aforementioed "GOP-Reagan-Bush philosophy" in a nutshell. Regulators are useless, let's get rid of them and see what happens.
It is a fine ideology, but ideologies need to be put into the context of REALITY. Today's reality is that the banks control the US economy.
What needs to be eliminated is "too big to fail".
And its not that regulators need to be eradicated it is they need a overhaul. they are completely redundant and inefficient. I see it everyday in my line of work.
I'm very well aware of the OTS, but is this you admitting you dont have a clue what you are talking about? YOU made the accusation that Bush deregulated.. and when I asked you what he deregulated, you listed all kinds of stuff deregulated by Clinton.. Now you want to change the topic to the OTS.. We arent discussing the OTS, we are discussing the deregulation by Bush and how his deregulations caused a world wide economic collapse..
It is most certainly on-topic. The OTS, the SEC, and the FDIC are cabinet-level entities, they recieve direction from the U.S. President, and they are regulators who failed to regulate from 2000 to 2008.
So I repeat, what is your opinion of the OTS's regulatory policies from 2000 to 2008?
And its not that regulators need to be eradicated it is they need a overhaul. they are completely redundant and inefficient. I see it everyday in my line of work.
As an individual going through the process to create a hedge fund, I can tell you first hand that someone in my limited "cash" situation, should not be authorized to make such a step. All it takes is money to file the legal fees and whalaa.. here it is..!
The bank creation that I'm involved in, is taking 3-4 years to go through the process, but somehow I can create a hedge fund in 60 days.. go figure..
It is most certainly on-topic. The OTS, the SEC, and the FDIC are cabinet-level entities, they recieve direction from the U.S. President, and they are regulators who failed to regulate from 2000 to 2008.
No, do I have to go back and quote YOU saying that Bush deregulated? failing to regulate, and deregulation is not the same thing at all...
Quote:
Originally Posted by rubber_factory
So I repeat, what is your opinion of the OTS's regulatory policies from 2000 to 2008?
Considering they've had thousands of policies, I'm not spending time to discuss them all. Are there particular ones you want to discuss in an effort to deflect away from your wrong posting claiming Bush "deregulated"...?
Considering they've had thousands of policies, I'm not spending time to discuss them all. Are there particular ones you want to discuss in an effort to deflect away from your wrong posting claiming Bush "deregulated"...?
You could start with their collective policies on
A) stemming regulatory arbitrage
B) regulation of the creation and sale of derivatives such as CDS's, and ensuring adequate capital ratios
C) regulation of the creation and sale of MBS's
D) regulation of bond rating agencies and "payola"
E) regulation of the inherent systemic risk of FDIC-backed commercial banks acting as hedge funds
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