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Octafish

(55,745 posts)

61. Just the other day, things got worse -- We the Taxpayers got put on the hook for the crooks' frauds.

Fri Apr 20, 2012, 10:29 PM

Apr 2012

Big Business gets a break on financial reform

WASHINGTON (CNNMoney) -- Big business scored a major win Wednesday when two regulatory boards agreed to limit the impact of tough rules to regulate the complex trades that helped spur the 2008 financial crisis.

Regulators have been struggling for months to figure out who should be included in a new crackdown of swaps or derivatives -- complex financial bets derived from other financial products such as the price of jet fuel or mortgages.

Derivatives were the key reason that American taxpayers were on the hook for the American International Group (AIG, Fortune 500) bailout in 2008. Derivatives also threatened to take down the global financial system when Lehman Brothers collapsed.

When Congress passed Wall Street reforms in 2010, lawmakers left the big decisions of how to regulate derivatives up to supervising agencies. Generally, the Democratic-controlled Congress wanted swaps to be more transparent and safer.

CONTINUED...

http://money.cnn.com/2012/04/18/news/economy/swaps-rules/

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Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown [View all] banned from Kos Apr 2012 OP

Lol, well at least you are predictable. sabrina 1 Apr 2012 #1

Like Sands Through The Hourglass, So Go The Days Of Our Lives! LOL! freshwest Apr 2012 #4

Lol, stop! I'm supposed to be cooking dinner! sabrina 1 Apr 2012 #68

How did Glass-Stagall bankrupt Lehman? banned from Kos Apr 2012 #5

I could tell you have not 'probed that territory' before for some reason. sabrina 1 Apr 2012 #11

How did G-S bankrupt Lehman? You have no answer. banned from Kos Apr 2012 #16

That's YOUR question, but directed at someone who did not make that claim. . sabrina 1 Apr 2012 #21

No. Glass Steagall is retro-skank so I prefer Dodd-Frank banned from Kos Apr 2012 #49

So you admit that deregulation was the cause of the Meltdown. sabrina 1 Apr 2012 #59

No, it's not. Chan790 Apr 2012 #83

Sabrina...don't fall for this...we just lost a poster who got tons of posts in argument..when giving KoKo Apr 2012 #50

Hi KoKo, sabrina 1 Apr 2012 #60

LOL! freshwest Apr 2012 #25

LOL... no kidding fascisthunter Apr 2012 #14

I'm so relieved! So it really was the dumb homeowners after all. Nothing to see here, move along. freshwest Apr 2012 #2

Right, the banks gave loans dumb homeowners could not repay on purpose. banned from Kos Apr 2012 #6

Do you know WHY they did it? sendero Apr 2012 #17

Not at all, if you know how to play the game and insured yourself against the loss: freshwest Apr 2012 #22

Exactly! The OP is suspect. upi402 Apr 2012 #75

Let's check the language here, too: Skank, probe, stupid, etc. RW spew if there every was one. freshwest Apr 2012 #78

Countrywide, now owned by BOA. geckosfeet Apr 2012 #3

But I like BOA, so full of Christmas Cheer: freshwest Apr 2012 #7

Totally wrong Cali_Democrat Apr 2012 #8

Bullshit, Chase, BoA, Morgan , Wells et al are the WINNERS! banned from Kos Apr 2012 #23

They were winners? At taxpayer expense? Cali_Democrat Apr 2012 #39

That is right! They are winners. Losers file chp 11 or are seized. banned from Kos Apr 2012 #51

You might as well delete this post Cali_Democrat Apr 2012 #62

Thanks, but I value the opinion of experts MadHound Apr 2012 #9

Link me to an article any of those claim G-S alone caused the collapse? banned from Kos Apr 2012 #10

You should probably edit your thread title. ( n/t ) Make7 Apr 2012 #12

Retreated from "Nothing to do with the crash" to "Didn't do it alone" Junkdrawer Apr 2012 #13

Lol, it didn't take long either. sabrina 1 Apr 2012 #24

At least the 'probing' didn't result in a 'sex thread.' I was expecting that with no link given. freshwest Apr 2012 #26

Lol, I know, I was worried for a while! sabrina 1 Apr 2012 #29

Uff Dah! freshwest Apr 2012 #35

No one said 'GS ALONE caused the collapse. That was the ultimate goal after years of other sabrina 1 Apr 2012 #19

stop frontin' fascisthunter Apr 2012 #15

It was caused by the top 1 percent's relentless greediness, shimonitanegi Apr 2012 #18

Got a link? Octafish Apr 2012 #20

No link, but plenty of accusations and looking down on hard-working Americans who got screwed. freshwest Apr 2012 #27

Where did he go? sabrina 1 Apr 2012 #31

Just say NO, girl. It's not worth it! freshwest Apr 2012 #34

So true. sabrina 1 Apr 2012 #36

Very wise, grasshopper. I have to leave this thread to stitch my sides up from laughing. freshwest Apr 2012 #42

That was a great piece. Interesting the # of replies xchrom Apr 2012 #28

I heard heavy breathing off to one side of this thread, though. freshwest Apr 2012 #37

Lol, is that what that was? sabrina 1 Apr 2012 #58

Yes, I found out what that was... freshwest Apr 2012 #65

^^^ THIS ^^^^ Junkdrawer Apr 2012 #30

Thank you so much for that, but this thread says: freshwest Apr 2012 #38

Give me a plausible reason Glass-Steagall caused Lehman or WaMu to fail. banned from Kos Apr 2012 #32

Did you read the transcript or watch the video? Junkdrawer Apr 2012 #33

Nope. GoCubsGo Apr 2012 #47

No one respects William Black. Quote me a Krugman or DeLong banned from Kos Apr 2012 #40

?!?! xchrom Apr 2012 #44

Is Tim Geithner a "has-been desperate to peddle his book"???? Junkdrawer Apr 2012 #45

Tell us how Glass Steagall caused Lehman (or others) to fail. banned from Kos Apr 2012 #54

Well, I guess I could petition God, but He's busy at the moment... Junkdrawer Apr 2012 #57

It didn't, its presence would have likely prevented it CreekDog Apr 2012 #72

William K. Black is a well-respected forensic economist who helped jail the S&L crooks. Octafish Apr 2012 #48

COD's, and other derivatives would not have been allowed under Glass-Steagall denbot Apr 2012 #41

+1 nt laundry_queen Apr 2012 #67

NO LINK? Are you trying to cover for LoZoccolo? He/She never gave links for Inflammatory Posts KoKo Apr 2012 #43

Gave? As in, no longer posting? pscot Apr 2012 #53

Fled from here and started another thread offering $1,000 since he can't make his case here. freshwest Apr 2012 #73

I don't think it's LoZ, but he won't answer my links or anyone else's. freshwest Apr 2012 #74

link? or are you just talking to yourself? Arguing with yourself? /nt October Apr 2012 #46

banned from Kos is angry about this, I believe... Octafish Apr 2012 #52

Thank you, Octafish. October Apr 2012 #81

Why would you post on something you know nothing about? jsmirman Apr 2012 #55

A couple years ago, someone on DU linked to this BumRushDaShow Apr 2012 #56

Just the other day, things got worse -- We the Taxpayers got put on the hook for the crooks' frauds. Octafish Apr 2012 #61

Try zen mode it will relax your body and mind...maybe do wonders Drew Richards Apr 2012 #63

I don't think he's still in this thread! sabrina 1 Apr 2012 #64

Hugs Drew Richards Apr 2012 #69

Aw, thank you! sabrina 1 Apr 2012 #80

Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown. The repeal of the act did! Better Believe It Apr 2012 #66

Sure it did. That and an unregulated deriatives market. mmonk Apr 2012 #70

"Government rescues banks" = They loot our tax dollars upi402 Apr 2012 #76

Certainly. mmonk Apr 2012 #77

Incredible jsmirman Apr 2012 #79

you're on DU arguing against Glass Steagall? on DU? CreekDog Apr 2012 #71

But what effect did it have on Dunning-Kruger? ( n/t ) Make7 Apr 2012 #82

Hey, banned from Kos! That's exactly what Phil Gramm said. Octafish Apr 2012 #84

Now that JimRob cleared out the "Moderates".... Junkdrawer Apr 2012 #85

LOL! Octafish Apr 2012 #86

"Maybe I'll stick videos on it. Maybe a few jokes. Recipes too.".... Junkdrawer Apr 2012 #87