Comments on: Why Wall St. Reform Plan Is a Huge Joke http://themoderatevoice.com/18692/why-wall-st-reform-plan-is-a-huge-joke/ An Internet hub for moderates, centrists, and independents, with domestic and international news, analysis, original reporting, and popular features from the left, center, and right Mon, 23 Nov 2009 15:19:33 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Jim_Satterfield http://themoderatevoice.com/18692/why-wall-st-reform-plan-is-a-huge-joke/comment-page-1/#comment-152496 Jim_Satterfield Tue, 01 Apr 2008 01:07:22 +0000 http://themoderatevoice.com/religion/ideologies/capitalism/18692/why-wall-st-reform-plan-is-a-huge-joke/#comment-152496 NPR talked to a number of experts and every one of them agreed that not only would this not help the current problems (I wouldn't expect that.) but that if it had been in place already it would have done absolutely nothing to help prevent them. Now that part bothers me. NPR talked to a number of experts and every one of them agreed that not only would this not help the current problems (I wouldn't expect that.) but that if it had been in place already it would have done absolutely nothing to help prevent them. Now that part bothers me.

]]> By: Slamfu http://themoderatevoice.com/18692/why-wall-st-reform-plan-is-a-huge-joke/comment-page-1/#comment-152495 Slamfu Mon, 31 Mar 2008 23:44:40 +0000 http://themoderatevoice.com/religion/ideologies/capitalism/18692/why-wall-st-reform-plan-is-a-huge-joke/#comment-152495 Oh, and seeing as how this is the only economy specific post up today, I just wanted to share a bit of research into financial distribution based on whose in the Oval Office. <br><br><a href="http://rodrik.typepad.com/dani_rodriks_weblog/2008/03/american-politi.html">http://rodrik.typepad.com/dani_rodriks_weblog/2...</a><br><br>I've always felt this to be the case but I'm glad someone did some research into it. I think they stopped at 2003 because if they included oil industry data since then, the GOP might actually have pushed into generating more money for the upper class than the Dems. Either way its pretty damning info. Oh, and seeing as how this is the only economy specific post up today, I just wanted to share a bit of research into financial distribution based on whose in the Oval Office.

http://rodrik.typepad.com/dani_rodriks_weblog/2...

I've always felt this to be the case but I'm glad someone did some research into it. I think they stopped at 2003 because if they included oil industry data since then, the GOP might actually have pushed into generating more money for the upper class than the Dems. Either way its pretty damning info.

]]> By: Slamfu http://themoderatevoice.com/18692/why-wall-st-reform-plan-is-a-huge-joke/comment-page-1/#comment-152494 Slamfu Mon, 31 Mar 2008 22:13:57 +0000 http://themoderatevoice.com/religion/ideologies/capitalism/18692/why-wall-st-reform-plan-is-a-huge-joke/#comment-152494 From what I've read it seems that the focus of these reforms will be to make sure banks don't offer loans to people without proper credit checking, something they should have been doing in the first place. Also, I didn't see any information about watchdogging the financial institutions that turned mounds of bad loan paper into hundreds of billions of dollars worth of AAA rated securities with a wave of a magic wand, which is what really turned this whole situation into the fiasco that it is. <br><br>How were they able to pass off these stinking securities as solid investments, who decided to sink all that money into them, and why are these people not hanging from meat hooks right now? I'm not trying to say that stupid people being taken in by shortsighted profit seeking banks didn't have a role to play, and its nice that the reforms make a nod to addressing that, but it was the financial wrangling of the big institutions that make this whole deal so monumental in impact. From what I've read it seems that the focus of these reforms will be to make sure banks don't offer loans to people without proper credit checking, something they should have been doing in the first place. Also, I didn't see any information about watchdogging the financial institutions that turned mounds of bad loan paper into hundreds of billions of dollars worth of AAA rated securities with a wave of a magic wand, which is what really turned this whole situation into the fiasco that it is.

How were they able to pass off these stinking securities as solid investments, who decided to sink all that money into them, and why are these people not hanging from meat hooks right now? I'm not trying to say that stupid people being taken in by shortsighted profit seeking banks didn't have a role to play, and its nice that the reforms make a nod to addressing that, but it was the financial wrangling of the big institutions that make this whole deal so monumental in impact.

]]> By: PaulSilver http://themoderatevoice.com/18692/why-wall-st-reform-plan-is-a-huge-joke/comment-page-1/#comment-152493 PaulSilver Mon, 31 Mar 2008 19:23:55 +0000 http://themoderatevoice.com/religion/ideologies/capitalism/18692/why-wall-st-reform-plan-is-a-huge-joke/#comment-152493 20 years ago I decided I did not trust most investments or their agents. So I put my money in local real estate and now live a relatively secure lifestyle. 20 years ago I decided I did not trust most investments or their agents. So I put my money in local real estate and now live a relatively secure lifestyle.

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