Vice-President Biden calls for caution in regulating financial markets

[Better Believe It]

Biden calls for regulation caution
By Jude Webber in Vina del Mar
Financial Times
30 Mar 2009

Joe Biden, the US vice-president, called on Saturday for caution in regulating financial markets, underlining differences with leaders in Europe in the run-up to this week's Group of 20 summit in London.

"It seems to me that we should not overreact," Mr Biden told a summit of leftist leaders gathered in the Chilean seaside resort of Vina del Mar that was dominated by discussion of the G20 agenda.

"This is not a choice of markets or governments in my view. A free-market still needs to be able to function."

While the UK and US have backed big stimulus measures to jolt the world out of the recession, others including France and Germany fear that would create an unsustainable recovery and are looking for tighter regulation as the best way forward.

Please read the complete article at:

http://money.ninemsn.com.au/article.aspx?id=795130

[PM Martin]

1. Is he for or against regulating the markets?

"Mr Biden, who attended Saturday's summit of progressive leaders along with UK prime minister Gordon Brown, Spain's prime minister José Luis Zapatero and the leaders of Brazil, Argentina, Chile, Uruguay and Norway, stressed there was a need for better rules.

Borrowing a Depression-era slogan to "save capitalism from the capitalists", Mr Biden said "we have, in a sense, to save markets from the free-marketeers and the essence of that is regulation, transparency and accountability."
:shrug:

[elleng]

5. FOR regulating.

.

[BlooInBloo]

2. DOH! Bankruptcy Bill Biden is gonna do it again!

Please don't let him, Obama.

[Skittles]

3. he wants credit card companies to still be able to rip people off

no regs, please

[elleng]

6. Wrong.

.

[Skittles]

7. right

[elleng]

4. Mr. Biden said,

"we have, in a sense, to save markets from the free-marketeers and the essence of that is regulation, transparency and accountability".

Please think about what this means, folks, before going off on wild tangents.

[Political Heretic]

9. kind of rings hollow right now.

[elleng]

10. Why?

.

[Political Heretic]

8. Dear Joe: Fuck off

I have lost ALL patience for this short of bet-hedging bullshit. There's no reason to make a public statement like this but to signal to credit card companies and banks that the administration isn't "really" going to do anything "too drastic" - but just "talk about it" to make people feel good.

If that's not what is meant, and that's not the intention of the administration, then Joe Biden needs to SHUT THE FUCK UP.

[Better Believe It]

11. Let's be careful now. We don't want to worry the Wall Street crooks.