Comments on: Global financial regulatory reform falls apart A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: HBC Fri, 29 Jan 2010 01:10:25 +0000 If Eliot Ness had said, “I am not interested in punishing gangsters, just in keeping everybody sober…” the results could not have been less, shall we say, popular. Or, in the end, meaningful.

Everybody knows you have to be drunk to appreciate Davos.

By: thomas7343 Thu, 28 Jan 2010 22:37:15 +0000 From a broader perspective.

The number 2 economy has not been looked at here. Felix has interesting analysis that can be measured against the crisis if the number 2 economy should be downgraded. Their debt level is worse than the number 1 economy. Any one single adjustment at a global level could affect the house of cards called debt; National debt.

With out question there is a need for major reform. Before enacting one could hope to be in shallower water instead of this deep water we are in for there will those who will not be able to swim.

Lobbyist for the industry is a major power that needs to be reminded that this Global crisis rest on their shoulders. Was hoping to hear from World Leaders with one voice at Davos to the Banking industry that the importance of a framework of a plan from the industry that would insure the global community that they will reform to help protect economy’s they do business with.

Lobbyist with this industry are so powerful that no National Leader could survive in a battle with.

We need to be in shallow water before making any major reforms. Yet, a deadline from a unified voice would be required to the industry, “Put a plan together that would protect against a global crisis”.
China has now become the most influential and the banking industry in the free world is at your peril. There is to much at stake now.

Nothing is more important than keeping an eye on the number 2 economy. Like the US. The Banking industry has got look a little further down this road instead of reaping rewards today. There is to much distrust in Governments as a result of this crisis. The thought of losing the number 2 economy to the neighbor China will be a capitalist nightmare.

The powerful Lobbyist need to be reminded that it is only a mater of time to reform or face the consequences.

I believe Reuters coverage earlier noted that there was not expecting to be any real drama about change in Davos. Perhaps Flix was right about not having a more powerful US representative that would help set an agenda for reform. Perhaps the Administration is thinking of getting into shallow water first.

Watched Brazil during the late 70’s when they unable to pay the interest on their debt. Watched how a single voice from Brazil was labeled a “Leftist” when he spoke to the same forum as we see in Davos. Spoke of a formula of a “Ground Up” when building an economy. Contrary to what we adopted; “Regonomics”. That lone voice became the leader of Brazil economic success.

By: grr Thu, 28 Jan 2010 19:01:09 +0000 averagejoe – I understand your point, but there is so much more. Fannie and Freddie, the housing market collapse, law and law-suits forcing banks to lend to minorities that statistically were not qualified!
Breaking news flash “Debt is our enemy”, and just today Oblame’ah and Congress want to spend another 1.9 trillion ?

By: grr Thu, 28 Jan 2010 18:54:38 +0000 “Reinstate Glass-Steagall”. After we see a firmer recovery (maybe). Oblame’ah unfortunately broke up a years worth of bipartisan work on regulatory reform with one “image boosting proposal” a surprise even to his own people! This a a very dynamic “world economy” unlike the 1920’s, perhaps we need a solution tailored more towards today economy. Geithner Bernanke – represent Oblame’ah’s “resistance to change”

By: grr Thu, 28 Jan 2010 18:44:37 +0000 You said it Matthew

By: averagejoemoney Thu, 28 Jan 2010 18:38:46 +0000 Reinstate Glass-Steagall. Since 1999, the lack of segregation of financial responsibilites has made it difficult to prevent and detect fraud.

The man made disaster we refer to as the financial crisis of 2008 was brought about by derivative financial instruments with oil commodity prices as the underlying driver. We did not have a financial crisis until after oil prices collapsed between July 2008 and September 2008.

The Government’s reaction to the crisis was to throw out existing laws and norms in favor of a new centrally (the Fed) controlled economy. The concept was not fully developed and now no one is sure what direction we are headed. Global Socialism or Free Market Capitalism?

By: Matthew_Saroff Thu, 28 Jan 2010 18:27:46 +0000 The answer here is simple: Timothy Geithner is treasury secretary because Barack Obama has been thoroughly captured by the banking industry.

By: grr Thu, 28 Jan 2010 18:11:37 +0000 How War-Dog(prezOB) makes changes.

Keeps and fights for Bush appointees .

fights to expand Bush’s “no child left behind”

Attempted to keep Bush’s “Road map to peace” on course (fails)

wants to extend the Bush tax cuts that he once opposed

Make Gov transparent by going behind closed doors bribing Union and house members (is that called bail out)

Troop surge, hmmm sound similar?

On and On bla bla bla

Continues to ruin our image aboard from Iran to China, now Indonesia is contemplating remove their “Barry” statue “he has done nothing for us or the world things have gotten worse”!

The list goes on………

I personally apologize for my own ignorance and lake of good judgment when we elected this guy.

By: grr Thu, 28 Jan 2010 18:01:40 +0000 By the way GE/NBC supported OB he promised they would get Gov$ to built wind/solar and the medID system, now that that is falling apart , they will get a bone from this high speed train we don’t need!!! Supreme Court didn’t side with big/corp; under the Campaign reform rules if a company like GE owns a media outlet – NBC they can say anything anytime effectively by-passing all the “rules”. Tell me how this is fair. OBlame’ah is upset because this levels the playing field.( for better or worse)

By: rajayagarwal Thu, 28 Jan 2010 16:37:25 +0000 During the last year, whole world fight the recession by pouring the money in various sectors of economy. In the current year, the economy may see a lot of policies decisions taking the global view rather than the more attrective national view. The President Obama should take the global view in economic era. WTO will emerge as more relevent organisation to fight with the protectionist measures taken by different national governments. President Mr. Obama has indicated some protectionist measures within the framework of WTO.