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Politics : RAMTRONIAN's Cache Inn
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To: Tom Caruthers who wrote (13902)3/18/2008 4:16:17 AM
From: NightOwl   of 14464
 
This is likely to be the silliest week of trading at least for the first half... if not the entire year. <vbg>

We get LEH, and GS before the bell tomorrow and MS announces their earnings before Wednesday's open. MER already filed and their consolidated numbers were nothing to write home about. Even without the Fed meeting... this week would be wild.

Everything pretty much depends on how the MoMo's and hedge funds these brokers deal with react to events... so much for "strong hands."

The really scary thing for me are the various reports on regulatory changes likely to come out of all this. It sounds to me like there's pressure to:

*Consolidate the brokerage and banking businesses further;

*Increase capital requirements;

*Develop some kind of industry securities valuation mechanism and/or standards which can be sold to us as:
- Greater certainty as to the nature of the risks in particular derivative instruments; and
- Greater transparency for the new Broker/Bank balance sheet

*Improve regulatory controls.

Of course the devil will be in the details and I could be wrong, but I have heard nothing to date that suggests they will do anything more than assure that the next round of failures to occur will be even bigger.

No doubt some in Washington will attempt to prevent this. But the opposition to real regulatory control will be insurmountable, the task huge and complicated, and in the end Congress will cave on the assumption that we'll all be dead by the time the next wave of cash flow driven sales hits.

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