Regulation be D.....

Pretty heavy reading, I didn't get through it but I am going to have to look up "obfuscated". Can't say as I have ever heard of that word - and I do crossword puzzles every night!
 
The word means hidden in plain sight by the use of distraction, or camo wording. The stop sign was obfuscated by the wrecking company trees. Jim
 
While I'm not real big on big government I do think that the stock market and banking needs government oversight.

Rick
 
Like the late great Paul Harvey used to say so often,"self government without self dicipline won't work".
 
Since the link is to M.F.Global,I'd say the Ex-politician,Corzine,and his bunch of crooked business buddies. So BOTH in a way.
 
actually tanker,banks ARE heavily regulated by the gov now.They have a audit from gov regulators every thirty days. it may come as a shock to you (but its the real truth) but did you know that EVERY single bank in the US was legally bankrupt, and should have locked their doors just a short time ago? The only thing that kept them open was gov regulators either closed their eyes,or scrambled day and night changing the rules to keep them open.it may come as even more of a shock for you to hear that not only the banks but the entire country and its whole monetary system was not worth the paper it was printed on.WE,the US, and not any european country was the first to go bankrupt legally.why? simply because US treasury bonds went below their face value for the first time ever. at that point the entire monetary system of the US was worthless.if the US had not borrowed enough money from china,and bailed out the banks we all would be totally broke.But as always there were some who made billions of dollars on this ,and its not the banks or lending institutions. who it was ,was folks who mortgaged every thing they had,sold what they could,gathered up all the money they could lay their hands on and bought those treasury bonds for 10-20-50cents on the dollar from banks who were trying to stay liquid and couldnt sell them for any price because for the first time ever they were basically worthless. when the gov responded and bailed out the banks they made billions apon billions of dollars.wasnt the banks fault they were simply following gov guidelines.( which they HAVE to do to do buisness in the US)
 
(quoted from post at 11:58:45 12/15/11) actually tanker,banks ARE heavily regulated by the gov now.They have a audit from gov regulators every thirty days. it may come as a shock to you (but its the real truth) but did you know that EVERY single bank in the US was legally bankrupt, and should have locked their doors just a short time ago? The only thing that kept them open was gov regulators either closed their eyes,or scrambled day and night changing the rules to keep them open.it may come as even more of a shock for you to hear that not only the banks but the entire country and its whole monetary system was not worth the paper it was printed on.WE,the US, and not any european country was the first to go bankrupt legally.why? simply because US treasury bonds went below their face value for the first time ever. at that point the entire monetary system of the US was worthless.if the US had not borrowed enough money from china,and bailed out the banks we all would be totally broke.But as always there were some who made billions of dollars on this ,and its not the banks or lending institutions. who it was ,was folks who mortgaged every thing they had,sold what they could,gathered up all the money they could lay their hands on and bought those treasury bonds for 10-20-50cents on the dollar from banks who were trying to stay liquid and couldnt sell them for any price because for the first time ever they were basically worthless. when the gov responded and bailed out the banks they made billions apon billions of dollars.wasnt the banks fault they were simply following gov guidelines.( which they HAVE to do to do buisness in the US)


LOL yea I did know that, I was stating that on banking and the markets I think government regulation and oversight is needed....but I'm well aware that the government is corrupt too.

Rick
 
M.F. Global wasn't a bank though. They were a brokerage house. The fact that the guy who ran it was a former governor,well,use your own judgement as to whether or not he might have had an attitude of being above the law.
 

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