Wall Street, though not without a fault by a long shot, is responsible for much of the dramatic economic growth that the US has experienced over the last 100+ years.-Its ability to amass capital needed for economic expansion is unparalleled. It is no accident that economies World over have been trying to replicate the Wall Street. Indeed, it was the paramount reason behind European common currency – the Euro.-Unfortunately there are a number of leftist intellectually inbred uberintellectuals as MENDOJOE that are having a sway over hordes of brainless parasites, that expect a government to reward them just for existing – and voting Democratic.
ruff talks of period of reasonable reg [ 1870-1900?] when reg took over [ie cria and fannie ,freddy ] created a panic which was turned into a depression by more reg [ie tampering with bankruptcy order]
Road to Hell is paved with good intentions. All regulations have good and often laudable intentions as its preamble, but the unintended consequences often, indeed very often are much more injuries than the original problem that the regulation sought to cure.-For example, in the aftermath of the Savings & Loan crush, bank regulators all over the world instituted a requirement that banks’ assets must be reappraised in almost real time – on quarterly basis, so that a bunk does not become over-leveraged and thus risk its failure. What could possibly wrong with such well meaning regulation?-Well, as much of the developed and developing world was experiencing a real estate bubble, driven primarily by booming economy, and exacerbated by government mandated easing of underwriting requirements and lots of cheap money, most institutions investing in the real estate backed securities bough insurance to guard against a significant level of asset depreciation and borrowers’ defaults.-However, as the first price declines occurred, the market started to panic as it became apparent that much of the insurance will probably not be there as many ‘insurers’ sold such instruments even as an investment, without the underlying lending instrument. Virtually overnight the market for the real estate backed paper disappeared – no one knew how to value the assets, for days and weeks. A fire sale valued some of the paper at 12 to 25 cents on the Dollar, and thus applying the reappraisal regulation – most major banks were technically rendered under-capitalized if not insolvent and unable to lend money – hence the birth of the greatest world financial crises since the Great Depression.-0bama has signed over 5,000 pages of new regulation enabling legislation, much of which effects and affects are yet to be ascertained – that is what is choking the American economy.
Actually just the reverse is true. Wall Street swings its signs in broad swaths destroying families, jobs, a nations welfare and profiting in the process. “Wall Street” is made up of a microcosm of the population yet they are responsible for our two longest wars, the deaths of thousands of young Americans, millions of civilians dead and displaced. “Wall Street” is the stinking government. Any politician who does not support the demonstrators, does not deserve to hold public office.Signed: joseph w grant
SHAKENDOWN over 12 years ago
C®ASH LANDING!!!!
d_legendary1 over 12 years ago
Yeah Ramirez don’t look at the guys who are paying our elected officials to look the other way.
petergrt over 12 years ago
Wall Street, though not without a fault by a long shot, is responsible for much of the dramatic economic growth that the US has experienced over the last 100+ years.-Its ability to amass capital needed for economic expansion is unparalleled. It is no accident that economies World over have been trying to replicate the Wall Street. Indeed, it was the paramount reason behind European common currency – the Euro.-Unfortunately there are a number of leftist intellectually inbred uberintellectuals as MENDOJOE that are having a sway over hordes of brainless parasites, that expect a government to reward them just for existing – and voting Democratic.
oneoldhat over 12 years ago
ruff talks of period of reasonable reg [ 1870-1900?] when reg took over [ie cria and fannie ,freddy ] created a panic which was turned into a depression by more reg [ie tampering with bankruptcy order]
petergrt over 12 years ago
Road to Hell is paved with good intentions. All regulations have good and often laudable intentions as its preamble, but the unintended consequences often, indeed very often are much more injuries than the original problem that the regulation sought to cure.-For example, in the aftermath of the Savings & Loan crush, bank regulators all over the world instituted a requirement that banks’ assets must be reappraised in almost real time – on quarterly basis, so that a bunk does not become over-leveraged and thus risk its failure. What could possibly wrong with such well meaning regulation?-Well, as much of the developed and developing world was experiencing a real estate bubble, driven primarily by booming economy, and exacerbated by government mandated easing of underwriting requirements and lots of cheap money, most institutions investing in the real estate backed securities bough insurance to guard against a significant level of asset depreciation and borrowers’ defaults.-However, as the first price declines occurred, the market started to panic as it became apparent that much of the insurance will probably not be there as many ‘insurers’ sold such instruments even as an investment, without the underlying lending instrument. Virtually overnight the market for the real estate backed paper disappeared – no one knew how to value the assets, for days and weeks. A fire sale valued some of the paper at 12 to 25 cents on the Dollar, and thus applying the reappraisal regulation – most major banks were technically rendered under-capitalized if not insolvent and unable to lend money – hence the birth of the greatest world financial crises since the Great Depression.-0bama has signed over 5,000 pages of new regulation enabling legislation, much of which effects and affects are yet to be ascertained – that is what is choking the American economy.
josephwilliamgrant over 12 years ago
Actually just the reverse is true. Wall Street swings its signs in broad swaths destroying families, jobs, a nations welfare and profiting in the process. “Wall Street” is made up of a microcosm of the population yet they are responsible for our two longest wars, the deaths of thousands of young Americans, millions of civilians dead and displaced. “Wall Street” is the stinking government. Any politician who does not support the demonstrators, does not deserve to hold public office.Signed: joseph w grant