Comments on: Four troubling things you didn’t know about financial reform Mon, 31 Oct 2016 15:40:16 +0000 hourly 1 By: kschuh Fri, 16 Jul 2010 19:53:28 +0000 God help us! Geither can’t even use Turbo Tax and he is supposed to oversee this 2300 page POS?

By: JackMack Fri, 16 Jul 2010 16:58:44 +0000 With respect to consumer protections offered under the financial “reform” bill of 2010, let’s keep something very clearly in mind: neither the banks nor the government uses condoms.

Got it? Good. Now, bend over.

By: my_opinion Fri, 16 Jul 2010 16:57:19 +0000 Focus on what matters now, fix things in the right order…

Everyone must call on Obama to act on his words: stop the wars and act on his foreign policy promises.

Bring our troops back before November election. We can’t sell democracy by means of wars. We need only to pinpoint our offensive to 9/11 culprits.

It is immoral to waste our taxes and troops to do foreign governments’ tasks. Stop it immediately; we’ll get new allies as fast as we stop the wars (with deep pockets with huge demand for “American made” goods, industry and services). High paying jobs will return immediately and real estate issues will vanish.

Obama knows what he must do, he needs to be reminded that we are still waiting for him to act, and November is the deadline. Obama’s cabinet and advisors must calm down and act rationally (we are still a super power and can always get into wars, we must use our brain now).

By: txgadfly Fri, 16 Jul 2010 16:51:00 +0000 Try using Credit Unions exclusively. And it would benefit the American people to make Credit Union “conversions” (i.e. corporate buyouts) ILLEGAL.

We need safe, reliable, insulated banking where WOLVES in SHEEP’S CLOTHING are not legal! We did not get that. We got almost nothing.

By: limapie Fri, 16 Jul 2010 13:48:40 +0000 The above is an educated post. Thanks.

To add to this: These six banks hold 9.4 trillion assets. Quote Business Week: “The overhaul (bill) allows banks to remain in the profitable derivatives business and won’t shrink those deemed “too big to fail,” leaving largely intact a U.S. financial industry dominated by (them.)”

“Bank holding companies such as JPMorgan Chase and Citigroup will be required to move less than 10 percent of the derivatives in their deposit-taking banks to a broker-dealer division over the next two years.”

Just as in ObamaCare that was ‘suppose’ to fix cost but didn’t, this financial reform does nothing to halt derivatives from sinking America and the World again.

I am disappointed greatly as are others like Paul Krugman, a Nobel winner in economics, who predicts deflation and a double-dip. He is absolutely correct about where everyone is headed.

Today, consumer prices were reported lower. It is coming…the depression. Gold won’t even save you.

Shame on our Congress. Shame on our Administration.
They had a chance to be decent, but once again, they thought only of themselves. And especially the delegation from MA, more specifically, Senator Scott Brown. You ought to be hung in the town square for what you did to YOUR country. You thought only of yourself. You are NO STATESMAN!

By: pesheff Fri, 16 Jul 2010 12:38:58 +0000 What happened with congressman Ron Paul’s request to audit the FED? Why is that not getting any publicity?

By: jebahoula Fri, 16 Jul 2010 12:13:09 +0000 This so-called financial reform Bill will give to the huge monopoly banks, through their own created banking club, i.e., the Federal Reserve, control over their remaining banking competition, such as, credit unions, finance companies, Fidelity, Vanguard, Charles Schwab, American Century, etc… which act like banks with checking accounts, savings, mutual funds, lending and brokerage services.

In three years, using their Federal Reserve, the monopoly banks of the “old” financial order have bankrupt, bought, or gained control of much of their banking competition, which they label by their media as “the shadow banking system”.

Their past banking competition included the likes of Lehman Brothers, Country Wide Financial, Bear Stearns, AIG, Merrill Lynch, Washington Mutual, CIT, etc…

These monopoly banks will be the only king in the United States who has a money creating machine and who decides interest rates. Their competition will be controlled, bought or bankrupt.

It should be no surprise that the largest monopoly banks left in power are Citibank, J.P. Morgan Chase, Wells Fargo, Bank of America, Morgan Stanley and Goldman Sachs.

All, except Bank of America, are part of the “old” financial order that mushroomed into power about 150 years ago during and after Lincoln’s Tax War. Remember, Lincoln declared in his First Inaugural Speech (paragraphs 4, 21 and 32) that he started his war solely to collect import taxes under the Morrill Tariff Act of 1861.

With the passage of his National Bank Act of 1863, Abraham Lincoln, a puppet of Northern banks and industries, re-established Alexander Hamilton’s centralist banking system in the United States, which set the foundation for the present day Federal Reserve System.

Under his First Legal Tender Act of 1862, Lincoln printed worthless paper money displaying images of Alexander Hamilton and Lincoln’s Treasury Secretary Salmon P. Chase (as in Chase Bank), which ultimately destroyed State banking.

Right now these monopoly banks are borrowing from the Federal Reserve at 1% and lending to consumers, via credit cards, at up to 30%. Price gouging is always the result of establishing monopolies.

Reminds one of J.P. Morgan’s government contract with Abraham Lincoln, where Morgan bought Federal rifles from the U.S. government for $3.50 and then sold them back to the U.S. Army for $22. J.P. Morgan’s rifles were notorious for blowing off the thumbs of the soldiers.

By: pesheff Fri, 16 Jul 2010 11:56:59 +0000 Again,
The Fed doesn’t have yours or mine interests at heart, but rather their banking buddies’! You cannot expect for a cartel whose governors (except Bernanke) are selected from the industry without any oversight from Congress or any other elected official to care!
The FinReg is just another win for the lobbying groups with some window dressing to keep the masses thinking they go something out of this deal

By: GRJensen Fri, 16 Jul 2010 09:19:28 +0000 “The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson.”

– U.S. President Franklin D. Roosevelt in a letter written Nov. 21, 1933 to Colonel E. Mandell House