Politics
- Started
- Last post
- 33,755 Responses
- ********0
Did any of you guys read the Goldman sachs story? You're all acting like this is some big deal. These aren't criminal charges.
They're civil charges. When are you guys going to get away from being 'headline' readers?
--
The Securities and Exchange Commission said in a civil complaint Friday that Goldman failed to disclose that one of its clients helped create—and then bet against—subprime mortgage securities that Goldman sold to investors.
---
CIVIL COMPLAINT.
---
http://www.breitbart.com/article…
---
Unlikely criminal charges will be brought
---
NO SH#T
---
http://www.reuters.com/article/i…
---
* Goldman, facing crisis, says to fight lawsuit* Paulson not charged
* Shares of Goldman tumble 12.8 percent (Adds financial and other details, comments)
---
Of course there is no mention of congress telling these people to give loans to individuals that don't qualify.
What about Geitner, Bernake, Dodd? Look at _______ giving +1. He doesn't even know whats going on.
- ukit0
The SEC doesn't bring criminal charges you idiot. Read up on that agency and what it does.
Anyway, why do you assume there must be criminal liability here? Are you just basing that off anything specific, or just the fact that you have a vague sense that Goldman Sachs did something bad becuz you heard it on TV? It's quite possible Goldman and other companies acted unethically, helped drive the financial crisis, and still technically never broke any laws. That's the position that James Kwan, one of the most respected economists on the crisis takes.
http://baselinescenario.com/2010…
All of this points to the need to reform derivatives trading which was at the heart of the instability in the markets. That's the issue Congress is debating right now. Can you even articulate a position on whether we should regulate derivatives more strongly? I mean, fucking LOL, you call us headline readers, I bet you don't even know what a derivative is.
Teabagger FAIL #5,326,783.5
- ukit0
Ex-Blackwater President, 4 Others Indicted On Conspiracy, Weapons Charges
http://www.huffingtonpost.com/20…
The former president of Blackwater Worldwide was charged Friday with using straw purchases to stockpile automatic weapons at the security firm and filing false documents to cover up gifts given to the king of Jordan.
Gary Jackson, 52, who left the company last year in a management shake-up, was charged along with four of his former colleagues, according to the federal indictment.
- quack0
Daryl F. Gates, 83; police chief during Rodney King riots, dies
http://www.washingtonpost.com/wp…
- mathinc0
^ ukit,
Regulations regulations regulations.. do you even recognize that regulations are merely the game that is set up to be exposed and exploited by bankers? I guess you, like most of your cohorts, who love to cry 'MORE REGULATIONS!!!' don't have any experience in business. What we need are not more regulations.. we need more oversight. These are two completely different things. Regulations are the rules of the game. Oversight is a constant referee interpreting the game, making sure that exposure and exploitation don't happen at the level we've witnessed. We need gov watchdogs who don't just police your beloved regulations, but simply keep up with what's happening within banking markets to make sure that people aren't gaming the system the way these CDO's and Credit Default Swaps did. Regulators didn't see these for what they were, but insiders and other investors did, see the problem? Regulations might help you sleep at night, but they don't do a whole lot when you have creative bankers working 20 hour days finding loopholes. But yeah, keep banging on about how reduced regulations are the problem. Increasing oversight over these industries helps keep policy as fluid and creative as the bankers. Push for that sort of system.. not increased regulations.
- Look at what regulations did to US farmers. Put them out of business while corporate farms got kickbacks.********
- Look at what regulations did to US farmers. Put them out of business while corporate farms got kickbacks.
- utopian0
This thread needs Regulations, Regulations and more Regulations...
- ukit0
Confused argument. You need to update the rules of the game (write new laws) to accommodate technical innovation in the markets. If Goldman Sachs or J.P Morgan economists invent some new way to securitize loans that is profitable to a few but dangerous to the economy as a whole, it's completely within the authority of the government, should be their responsibility in fact, to write rules outlining how those companies should be able to use these new instruments. Just like when the web came online, or the mobile phone market sprouted up, we needed new laws to regulate how companies could do business on it.
Those are regulations. The people who actually REGULATE, the ones administering the laws, have some responsibility, sure - but without a sensible, modern regulatory framework to work within, they aren't going to be able to be effectual.
Now what does this mean specifically? One of the biggest problems with the financial market is the degree of leverage companies were allowed to spin off of risky loans. They took the money invested on the original loans and releveraged it 10, 20, 30 times over, to the point where the amount derived from the original investments vastly exceeded the actual amount of real activity in the economy. That's why the fall was so brutal when the housing market crashed - it was like a set of Jenga blocks (or house of cards) falling as you pulled out the first block. So getting that leveraging back to a sensible level is, I think, something Obama is trying to do.
I mean, do you actually have a problem with any of that, or are you just trying to go off on some kind of right-wing sulk here?:) I don't really get what you are against.
- You can only play the Left vs Right game. I would bet your bitter because you don't material items like a rapper.********
- You can only play the Left vs Right game. I would bet your bitter because you don't material items like a rapper.
- quack0
http://www.huliq.com/8738/politi…
Political satire? There's now an app for that
Score one for free speech in the Appleverse. Political cartoonist Mark Fiore’s cartoon app for the iPhone is now available in Apple’s App Store after the computer and electronics manufacturer reversed a widely criticized ban on it. And all Fiore had to do to prevail was win a Pulitzer Prize.
- ukit0
