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Author: [Politics] Topic: Repubs block motion to debate
wallstreetcappers send a private message View Space | Friends | Playbook |
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#1
Posted: 4/27/2010 5:31:01 PM
Good one fellas..

WASHINGTON (MNI) – Senate Republicans again banded together Tuesday and rejected a Democratic motion to formally begin debate on a financial regulatory reform bill.

The Senate voted 57 to 41 to begin the debate on financial
regulatory reform. Sixty votes are required to begin the debate.

All Republicans who were present voted to block the debate from
going forward. All Democrats voted to begin the debate except for
Nebraska Senator Ben Nelson.

The same motion failed Monday evening on a 57 to 41 vote.

A third Senate vote has been scheduled for Wednesday.

Senate Banking Committee Chairman Chris Dodd and Sen. Richard
Shelby are expected to resume their negotiations later in the evening.

During the debate, Dodd said that his package is a good bill but he
is open to adjustments.

Senate Minority Leader Mitch McConnell said in earlier in the day
that Democrats are rushing the legislative process, adding that it makes sense to continue to work for a bipartisan agreement.

Both Dodd and Shelby have said they’ve been narrowing their
differences on the legislation.

The Senate Banking Committee approved Dodd’s regulatory reform bill on March 22 on a party-line 13 to 10 vote. All Democrats supported the bill and all Republicans opposed it.

Dodd’s legislation establishes a new independent Consumer
Protection Bureau at the Federal Reserve Board, creates a process to liquidate failed financial firms, sets up a council of regulators to
oversee systemic risk in the economy, establishes a regulatory structure for over-the-counter derivatives, requires hedge funds that manage over $100 million to register with the SEC and creates a new office within Treasury to monitor the insurance industry.

The Senate Agriculture Committee approved a narrower bill last week that tightens regulation on derivatives. Parts of this bill are
expected to be merged with Dodd’s bill when the formal Senate debate begins.

The House passed a sweeping financial regulatory reform bill in
December.


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#2
Posted: 4/27/2010 6:03:16 PM
wall - this bill establishes a permanent bailout slush fund. it is a bad bill

1400 pages of crap
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#3
Posted: 4/27/2010 6:05:52 PM

no more bailouts!!!

 (unless it comes from the 50B slush fund)

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#4
Posted: 4/27/2010 6:27:46 PM
QUOTE Originally Posted by KOAJ:

wall - this bill establishes a permanent bailout slush fund. it is a bad bill

1400 pages of crap


Well that might be true but at some point we have to take some action, we are 18 months in and have zero to show for this.

I dont think your simplistic solution is enough because the companies own the regulators and congress, the solution has to be that we open up the dark pools and force companies to be audited and regulated quarterly..or even more often.


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#5
Posted: 4/27/2010 6:32:07 PM
so...

let's not discuss
let's not debate
let's not talk about it at all
let's filibuster
let's all look like a bunch of fool

Republicans




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#6
Posted: 4/27/2010 6:32:20 PM
The party of N O
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#7
Posted: 4/27/2010 11:08:09 PM
QUOTE Originally Posted by TheGoldenGoose:

so...

let's not discuss
let's not debate
let's not talk about it at all
let's filibuster
let's all look like a bunch of fool

Republicans






I think we saw what kind of parliamentary procedures the Dems can pull. if the repubs would have ok'd this, it would be passed by the weekend with nobody having read it, along strict party lines.  Lets debate the merits of this in the court of public opinion before we leave it to the hands of this oligarchy.

Good one repubs,  way to stand up for your constituents who are tired of being railroaded.



DEADLOCK 2012
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#8
Posted: 4/27/2010 11:08:54 PM
Do you even blink an eye when you find out that Fannie and Freddie are not even mentioned in this?
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#9
Posted: 4/27/2010 11:19:43 PM

So they are unwilling to discuss it?

Wow...... that's mature.

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#10
Posted: 4/27/2010 11:28:01 PM

Pretty sure it was a photo op but I do remember Obama sitting down with both parties discussing health care for a full day on television.

As a regular citizen, I thought that was pretty cool that he opened it up like that.

 

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#11
Posted: 4/27/2010 11:28:53 PM

Not thinking person Cheney would be up for that.

He either thinks American Citizens are stupid or he is hiding something.

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#12
Posted: 4/28/2010 1:27:46 AM
Cry me a river...............dems pulling every trick in the book and a lot that aren't even in the book, and YOU have the gall to whine?
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#13
Posted: 4/28/2010 1:34:52 AM
QUOTE Originally Posted by TripleDouble:

Not thinking person Cheney would be up for that.

He either thinks American Citizens are stupid or he is hiding something.


He would be correct-

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#14
Posted: 4/28/2010 6:15:26 AM
QUOTE Originally Posted by wallstreetcappers:



Well that might be true but at some point we have to take some action, we are 18 months in and have zero to show for this.

I dont think your simplistic solution is enough because the companies own the regulators and congress, the solution has to be that we open up the dark pools and force companies to be audited and regulated quarterly..or even more often.




Blankfein and GS are in favor of this bill. go to drudge, top left

my solution is perfect, it eliminates corruption and the prblem of the cops working for the crooks. since government is either "underfunded, too slow or too stupid" (your words) or watching porn, then take the responsibility away from them...

you fail, you go bankrupt, no bailouts ever. also, reinstate glass steagal 100% effective within 3 months. also, if a firm has access to the discount window, then it cannot have a prop trading arm or insurance division

we have zero to show for it other than ZIRP and the Dow up 60% along with oil and gold...we also have congressional approved fraud (mark to model vs mark to market accounting)...and stimulus programs, cash for a few diff things. this is what our governments answers are

so yes we have business as usual...tons of money printing, artificially low interest rates, no real regulation with teeth, fraud, cover ups, and a lot of wasteful spending

we have two arrests, madoff and stanford both of whom the SEC knew about for YEARS and did nothing

i have no idea why you want to reward failure with more money and more power
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#15
Posted: 4/28/2010 8:04:00 AM
Your solution is catastrophic and that is pretty much it.

Let the crooks squeeze the life out of the consumer, but if they over leverage they go under.

What kind of solution is that?

It is like saying people can drive drunk or under the influence of drugs as long as they dont get in an accident, but if they get in an accident that they be allowed to die.

Not nearly comprehensive enough..it allows firms to cheat, monopolize and fraud the public, but if they are stupid enough to go too far that we dont rescue them.

Make sure you never apply for public service because you would fit right along with others we have in congress.
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#16
Posted: 4/28/2010 8:08:49 AM
wall - there needs to be some regulation from the federal government...things like enforcement of laws on the books about leverage, reinstating glass steagal, no more FASB fraud, no more mark to model, no level 3 assets, nothing off balance sheet

if we enforce the current laws, then many of our problems go away

the feds are supposed to watch against collusion, price gouging etc but they dont...
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#17
Posted: 4/28/2010 8:19:47 AM
They dont watch the things you mention because they arent equipped to do so.

Since the company (no reference of free markets..) is in the business of finding ways of not getting caught, the reporting and regulating has to be in real time..not three years down the road like we have now.

GS wont be reinstated, we cannot expect or demand that, the FASB fraud wasnt fraud at all..mark to model was done due to inefficient markets and the effect of mark to market had in an ILLIQUID market. Marking to bid when the market spreads are insanely wide makes no sense, but I hope that since the markets have balanced again (thanks to the FASB change).

The reality is that we arent going to do a thing because the companies being regulated own the regulators and congress.

The solution has to be timely reporting and regulating, especially since GS wont be reinstated.
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#18
Posted: 4/28/2010 8:26:48 AM
QUOTE Originally Posted by TripleDouble:

So they are unwilling to discuss it?

Wow...... that's mature.



This vote would not be conducive to discussion.  It will be another steamrolling, surely you understand that.

you can save your phony outrage.
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#19
Posted: 4/28/2010 2:04:13 PM
was just told that Sen Ben Nelson and his wife own 6m worth of berkshire stock

crooked republicans owned by wall street

the dodd bill strips the Fed audit provisions as well


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#20
Posted: 4/28/2010 2:09:12 PM
QUOTE Originally Posted by wallstreetcappers:

They dont watch the things you mention because they arent equipped to do so.

Since the company (no reference of free markets..) is in the business of finding ways of not getting caught, the reporting and regulating has to be in real time..not three years down the road like we have now.

GS wont be reinstated, we cannot expect or demand that, the FASB fraud wasnt fraud at all..mark to model was done due to inefficient markets and the effect of mark to market had in an ILLIQUID market. Marking to bid when the market spreads are insanely wide makes no sense, but I hope that since the markets have balanced again (thanks to the FASB change).

The reality is that we arent going to do a thing because the companies being regulated own the regulators and congress.

The solution has to be timely reporting and regulating, especially since GS wont be reinstated.


they knew about all the corruption KOAJ is talking about for YEARS and did nothing...
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#21
Posted: 4/28/2010 2:24:26 PM
QUOTE Originally Posted by williamwallace:



they knew about all the corruption KOAJ is talking about for YEARS and did nothing...


And why is that?

Business owns regulators and congress..stop the money and boot those industry insiders from high positions and we might get somewhere.

Also..you say they knew for years..how long after the fact did they know?

The cheaters are in the next town by the time either a whistle blower or someone that got screwed comes forward or a leak happens..because it isnt happening due to internal or external audits, the companies are WAY too smart to get caught by mere 50k a year accountants.
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#22
Posted: 4/28/2010 2:28:48 PM
QUOTE Originally Posted by wallstreetcappers:

Your solution is catastrophic and that is pretty much it.

Let the crooks squeeze the life out of the consumer, but if they over leverage they go under.

What kind of solution is that?

It is like saying people can drive drunk or under the influence of drugs as long as they dont get in an accident, but if they get in an accident that they be allowed to die.

Not nearly comprehensive enough..it allows firms to cheat, monopolize and fraud the public, but if they are stupid enough to go too far that we dont rescue them.

Make sure you never apply for public service because you would fit right along with others we have in congress.




I think he might be starting to understand just how confused he is because.....


wait for it....
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#23
Posted: 4/28/2010 2:29:16 PM
i have no idea why the FBI and SEC and others did nothing to stop the corruption that they knew was ongoing for years.  my guess is political corruption.
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#24
Posted: 4/28/2010 2:31:31 PM
wall - harry markopolous tipped off the SEC and others back in the late 90s

bernie was still in NYC running his day to day until dec 08

allan stanford as well
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#25
Posted: 4/28/2010 2:32:15 PM
QUOTE Originally Posted by KOAJ:

wall - there needs to be some regulation from the federal government...things like enforcement of laws on the books about leverage, reinstating glass steagal, no more FASB fraud, no more mark to model, no level 3 assets, nothing off balance sheet

if we enforce the current laws, then many of our problems go away

the feds are supposed to watch against collusion, price gouging etc but they dont...



look how much regulation he is in favour of all the sudden

Are you ok? Does this sound like free market, deregulation etc?

Do we need to call a doctor? wtf is going on here?




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