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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Reilly Diefenbach who wrote (229608)11/20/2009 11:49:17 AM
From: patron_anejo_por_favorRead Replies (2) of 306849
 
In the current environment of near-complete regulatory capture by the financial services industy (ie, Squid, Ink.) there's no hope for effective regulation. Which is why those clowns (financial services management teams....Lord Blankfein and Jamie Dimon and John Mack and Ken Lewis and the WFC clown) needed to be tossed out on the Street face first once the immediate "crisis" (and I use that term loosely) was solved. Simon Johnson and William Black have that 100% correct. Until that happens nothing will change. Even if we throw out the current Clowngress completely (which we absolutely should) the new batch will be sucking on the teat (or other appendages) of the financial services graft machine within days. We need, at a minimum:

1) Campaign finance reform-NO donations from corporations, trade groups or unions of any kind. Donations from individuals only, limited to 500 or 1000 clownbucks.

2) Reform of the revolving door between regulatory bodies and the industries they regulate. You work for the SEC? Great, you win a lifetime ban on working for a borker.

3) Reinstatement of Glass Steagal

4) Repeal of Gramm-Leach-Bliley.

5) Use of the Sherman antitrust act to bust up Too Big Too Fail Banks. If that's not adequate, rewrite the law so it is.

Did I leave anything out? Feel free to email to yer Clowngressman, who will undoubtedly ball it up and toss it out. Or to the Op-Ed page of yer local fishwrap/newspaper.
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