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Response to joshcryer (Reply #111)

Mon Feb 16, 2015, 07:40 AM

114. Both parties, right in front of us, and you deny it. Better Believe It means unbelievable here~

Jan 2015 NYT

On Thursday, The Times’s Nathaniel Popper reported that Goldman Sachs is using the bank’s money to make big bets in real estate. That appears to be a violation of the spirit, if not the letter, of Dodd-Frank, which aims to avoid bailouts by reducing concentrated risks at banks.

Similarly, the still-unfolding fallout from the unexpected surge this month in the value of the Swiss franc — including huge losses at brokerages and hedge funds — serves as a reminder that certain foreign-exchange derivatives were allowed to escape regulation under Dodd-Frank. The argument against such regulation, as put forth by Obama officials, was that foreign exchange trading is staid and stable, a view that never made sense and that has since been undermined, not only by the volatile Swiss franc episode, but by recent revelations of widespread manipulation of the foreign-exchange market by big banks.

Unfortunately, those regulatory challenges are not the only ways in which Dodd-Frank’s promise has gone unmet. The law required regulators to write hundreds of rules and conduct dozens of studies before the law’s many reforms could be put into place. In the process, some regulators found room to indulge their pro-bank biases. Regulators were also subject to unrelenting pressure — by bank lobbyists; by Republicans, who have been hostile to the law from the start; and by several Democrats, who want credit for passing the law but also want to please their Wall Street contributors.

The result has been delays, weak rules and political setbacks, including budget constraints that impair regulatory enforcement of the law and, recently, the outright repeal of a provision to curb excessive speculation by banks. In a maneuver that hints at things to come, that repeal was achieved by attaching the provision to a spending bill that President Obama and many congressional Democrats said was more important than standing firm on the reform....

http://www.nytimes.com/2015/01/25/opinion/sunday/an-uncertain-future-for-dodd-frank.html?_r=0


Facts over fiction used to be what our party was all about. Lets look at what is, and change it for the better, for our country. We need Dems to be Dems once elected to fight the rethugs.

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McCamy Taylor Feb 2015 OP
misterhighwasted Feb 2015 #1
joshcryer Feb 2015 #2
McCamy Taylor Feb 2015 #3
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RobertSF Feb 2015 #7
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joshcryer Feb 2015 #104
RiverLover Feb 2015 #109
joshcryer Feb 2015 #111
LineLineLineLineLineLineLineLineLineLineNew Reply Both parties, right in front of us, and you deny it. Better Believe It means unbelievable here~
RiverLover Feb 2015 #114
joshcryer Feb 2015 #115
RiverLover Feb 2015 #118
winter is coming Feb 2015 #116
joshcryer Feb 2015 #117
winter is coming Feb 2015 #119
lumberjack_jeff Feb 2015 #91
Caretha Feb 2015 #121
Fumesucker Feb 2015 #6
Bluenorthwest Feb 2015 #47
Fumesucker Feb 2015 #48
hollowdweller Feb 2015 #54
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