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Nickelless
Administrator
USA
5580 Posts |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 08/12/2009 : 08:55:35
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| I find Obama's approach to most everything quite fascinating. In his paradigm everything is broken and needs to be re-invented- health care, banks, brokers, markets, speculators... |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 08/12/2009 : 22:47:24
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Obama's plan is what's broken. He's proposing gutting everything even if not everything is broken--health care is a good example. Only 15 percent of Americans are without any kind of health insurance, but Dems say we have to totally destroy the current system. Soaring costs notwithstanding, those of us who are more or less satisfied with our current health insurance are being told in effect that we can't keep our care if we want to change our insurance plans.
You've hit on something, Jonflyfish. Everything is broken, and the only way he can get his grandiose plans passed is if bills are rammed through Congress before Congress has a chance to read the things--exactly what we've been seeing happen. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 08/13/2009 : 17:31:16
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Yes, I hope they are enforced too. But then again, what good are they if they are not enforced.
Leveraged financial derivatives are the crux of the 2008 economic disaster. $60 trillion worth of credit default swaps collapsing almost brought down the entire worldwide financial system.
Under the proposal, the big investment banks that trade the derivatives would be subject to requirements for holding capital reserves against risk and other rules. A new network of clearinghouses would be established to provide transparency for trades in credit default swaps and other derivatives. All so-called “standardized” derivatives would be required to go through clearinghouses and to be traded on regulated exchanges or electronic trading systems.
Leverage would be reduced and transparency would be increased. This reform is sorely needed.
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 08/13/2009 : 18:29:33
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So, Barney Fife Frank and the rest of Congress are going to "fix" the mess crime they helped create...
So the foxes are continuing to guard the hen house. But everything will be bunnies and sunshine from here on out because Congress is taking action.
That's a good one!
If you believe that one, I got some lake front property...
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/13/2009 : 18:44:32
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I love your laughing happy faces.
OK..Barney and company might not be the best caretakers. If market forces were left unchecked, you probably be getting the BIG FLUSH.  The solution is somewhere between these two choices. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 08/13/2009 18:46:29 |
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Obama proposes new derivatives rules
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