Comments on: U.S. House passes Wall Street reform bill (updated) http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill New Mexico news and politics Fri, 02 Sep 2011 18:15:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Left_Coast_Steve http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill#comment-21337 Left_Coast_Steve Tue, 15 Dec 2009 07:27:33 +0000 http://newmexicoindependent.com/?p=43080#comment-21337 Ugh, and I'm sure Harry Teague would like his "powerful council of regulators called the Consumer Financial Protection Council" to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees. Ugh, and I'm sure Harry Teague would like his “powerful council of regulators called the Consumer Financial Protection Council” to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees.

]]> By: Left_Coast_Steve http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill#comment-18117 Left_Coast_Steve Tue, 15 Dec 2009 01:27:33 +0000 http://newmexicoindependent.com/?p=43080#comment-18117 Ugh, and I'm sure Harry Teague would like his "powerful council of regulators called the Consumer Financial Protection Council" to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees. Ugh, and I'm sure Harry Teague would like his “powerful council of regulators called the Consumer Financial Protection Council” to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees.

]]> By: Left_Coast_Steve http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill#comment-13669 Left_Coast_Steve Tue, 15 Dec 2009 00:27:33 +0000 http://newmexicoindependent.com/?p=43080#comment-13669 Ugh, and I'm sure Harry Teague would like his "powerful council of regulators called the Consumer Financial Protection Council" to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees. Ugh, and I'm sure Harry Teague would like his “powerful council of regulators called the Consumer Financial Protection Council” to be made up of representatives chosen from the banking and insurance industries. Who would, of course, do a REAL GOOD JOB of preventing the kind of abuses by which those same people brought the country to its financial knees.

]]> By: Aliandra http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill#comment-13659 Aliandra Mon, 14 Dec 2009 17:04:38 +0000 http://newmexicoindependent.com/?p=43080#comment-13659 Is this Episode II of the Oprah Whitehouse Christmas Special? It reads like an apologetic for the President's Wall Street giveaway agenda for Congress.<br><br>Characterizing new laws as "reform" -- unless they are titled as reform laws -- is usually a slide onto thin ice for a journalist. <br><br>Reichback wrote:<br>"A Wall Street reform bill designed to rein in the problem of firms that are “too big to fail,” passed the U.S. House today 223-202."<br><br>Except:<br>A. He didn't explain "the problem of firms that are too big to fail." <br>B. The law does not address the problem of firms that are too big to fail, it affirms the notion that some firms are too big to fail.<br>C. Assuming the firms are too big to fail, it makes you and I, the taxpayer, responsible for all the money these "too big" companies divert to their executives' and investors' private accounts.<br><br>From a readers' perspective, I get the notion that the reporter lacks background in either financial regulation or the finance industry, and is not well read in media coverage of either.<br><br>It escapes my imagination that the problems of Obama's all-Wall-Street administration identified by Rolling Stone writer Matt Taibi would have been cleaned up in the past five days.<a href="http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/print" rel="nofollow">http://www.rollingstone.com/politics/story/3123...</a> Is this Episode II of the Oprah Whitehouse Christmas Special? It reads like an apologetic for the President's Wall Street giveaway agenda for Congress.

Characterizing new laws as “reform” — unless they are titled as reform laws — is usually a slide onto thin ice for a journalist.

Reichback wrote:
“A Wall Street reform bill designed to rein in the problem of firms that are “too big to fail,” passed the U.S. House today 223-202.”

Except:
A. He didn't explain “the problem of firms that are too big to fail.”
B. The law does not address the problem of firms that are too big to fail, it affirms the notion that some firms are too big to fail.
C. Assuming the firms are too big to fail, it makes you and I, the taxpayer, responsible for all the money these “too big” companies divert to their executives' and investors' private accounts.

From a readers' perspective, I get the notion that the reporter lacks background in either financial regulation or the finance industry, and is not well read in media coverage of either.

It escapes my imagination that the problems of Obama's all-Wall-Street administration identified by Rolling Stone writer Matt Taibi would have been cleaned up in the past five days.http://www.rollingstone.com/politics/story/3123…

]]> By: Immanentize http://newmexicoindependent.com/43080/u-s-house-passes-wall-street-reform-bill#comment-13652 Immanentize Mon, 14 Dec 2009 00:08:25 +0000 http://newmexicoindependent.com/?p=43080#comment-13652 The repeal of the Glass-Steagall Act led directly to the current financial situation. Any reform should break up finance conglomerates and re-erect the wall between banks, investment (speculation) firms, and insurance. Otherwise, the horse is out of the barn. The repeal of the Glass-Steagall Act led directly to the current financial situation. Any reform should break up finance conglomerates and re-erect the wall between banks, investment (speculation) firms, and insurance. Otherwise, the horse is out of the barn.

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