Because there are actually some pretty smart folks on TWW who know a thing or two about banking and the finance industry*.


For starters:

Quote :

"Chris Dodd proposes massive financial overhaul Weighing in at 1,136 pages, Senate Banking Committee Chairman Chris Dodd’s financial reform legislation would fundamentally change the financial landscape in this country, creating a unified super-regulator to oversee all the banks in the country. The Connecticut Democrat's bill differs in key ways from measures written by the Obama administration and House Financial Services Committee Chairman Barney Frank (D-Mass.), and will no doubt change significantly before it becomes law. But it is the most sweeping proposal to date to address last year’s financial crisis. "

More details in the link: http://www.politico.com/news/stories/1109/29367.html




*I'm not one of them, merely an interested observer

11/10/2009 11:40:30 AM

Some of those proposed reforms don't sound horrible, while others do. For instance, they'd be able to limit how much money the Federal Reserve gives out. The funny thing about it is that Dodd is one of those that sowed the seeds for the financial crisis. He hasn't understood that you wouldn't need a "super-regulator" if they hadn't artificially increased the demand for borrowed money.

11/10/2009 11:52:24 AM

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6907681.ece

Here's a pretty excellent (but long-ish) article on Goldman Sachs and the banking/investing industry in general.

11/11/2009 1:04:21 PM

Interesting read. It really does seem that Goldman Sachs has a lot of influence on government. The article also provides some insight into the "business" of investment banking. I do think that the article is attempting to portray Goldman Sachs as the disgustingly rich bank that gets paid while Americans suffer. Sure, that's true, but it's not the real problem.

It's like getting mad at the little kid in the mall that keeps blowing a whistle. Yes, the kid is annoying. You can't really blame him for blowing the whistle, though. If you give a little kid a whistle, he's going to blow it...that's just human nature. So, focusing on the little kid is pointless. You need to focus on the person that gave the kid the whistle. That person should have known what the consequences would be. In the case of the American economy, the person providing the whistle was the U.S. government, or more specifically, the Federal Reserve. They were the ones providing cheap money to banks. You can't be surprised when banks respond to that.

11/11/2009 1:37:52 PM

i don't like the idea of having an institution responsible for monitoring all risk in all areas of the market, i just cant understand how they could be effective

11/11/2009 3:30:27 PM

Id say the economic outlook is bleak. We have record debt, record government spending with the liberals trying to cram even more down our throats, the government controls the largest percent of the economy in history, the dollars value is dropping like Paris Hiltons panties, we are due for record inflation, unemployment is high, the liberals are trying to pass cap and trade (which will destroy the economy) and Obama wants to sign our sovereignty away in the name of global warming....in short we are fucked. Obama is a Carter not a Clinton

[Edited on November 11, 2009 at 4:28 PM. Reason : .]

11/11/2009 4:24:08 PM

^dont forget it was the conservatives that started the massive spending..your hero....W.....

11/11/2009 4:27:50 PM

W is no hero of mine, I hate him as much as I do Obama.

11/11/2009 4:28:34 PM