Does this bother anyone?

[Blessedhope777]

Treasury Dept. Seeks New U.S. Power to Keep Markets Stable

http://www.nytimes.com/2008/03/29/business/29regulate.html?_r=2&hp=&oref=slogin&pagewanted=print&oref=slogin

WASHINGTON — The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.

The proposal is part of a sweeping blueprint to overhaul the nation’s hodgepodge of financial regulatory agencies, which many experts say failed to recognize rampant excesses in mortgage lending until after they set off what is now the worst financial calamity in decades.

Democratic lawmakers are all but certain to say the proposal does not go far enough in restricting the kinds of practices that caused the financial crisis. Many of the proposals, like those that would consolidate regulatory agencies, have nothing to do with the turmoil in financial markets. And some of the proposals could actually reduce regulation.

According to a summary provided by the administration, the plan would consolidate what is now an alphabet soup of banking and securities regulators into a powerful trio of overseers responsible for everything from banks and brokerage firms to hedge funds and private equity firms.

[Rmf3175]

Yes, but it I expect the principal of government control to become more, and more of a standard.

So my response to these things is ....... "Just passin through.":)

[Biblenuggetlady]

Moved your thread here as I thought you'd get more feedback.

[wasp]

:popcornbag

[goinghome]

I think it's the inevitable state of humanity that eventually any society will need extreme policing. People in general don't get better and more honest, they get worse and more deceitful. When I first started in my industry we got audited once per year (20 years ago). Then, it was twice, and then quarterly. Then, we had internal auditors who actually worked for outside companies constantly sitting in and watching our business (commodities trading). Now, there are constant audits of our auditors, and auditors who audit them, and auditors who audit the audits of the auditor's auditors. I'm being completely serious. When I worked in the Risk Management group I came up with new ways and new rules to oversee and control what was going on on the trading floors (keeping people honest). No matter what we did somebody would actively look for a loop hole and take advantage of it in order to make more MONEY$$$$$ That's what it's all about. I learned to admire the audacity and ingenuity of the greedy human. Fascinating. The deceitfulness is increasing at a much quicker pace now.

[Chariots]

The Brown Shirts are coming!

[yogi3939]

I think it's the inevitable state of humanity that eventually any society will need extreme policing. People in general don't get better and more honest, they get worse and more deceitful. When I first started in my industry we got audited once per year (20 years ago). Then, it was twice, and then quarterly. Then, we had internal auditors who actually worked for outside companies constantly sitting in and watching our business (commodities trading). Now, there are constant audits of our auditors, and auditors who audit them, and auditors who audit the audits of the auditor's auditors. I'm being completely serious. When I worked in the Risk Management group I came up with new ways and new rules to oversee and control what was going on on the trading floors (keeping people honest). No matter what we did somebody would actively look for a loop hole and take advantage of it in order to make more MONEY$$$$$ That's what it's all about. I learned to admire the audacity and ingenuity of the greedy human. Fascinating. The deceitfulness is increasing at a much quicker pace now.


That just proves the axiom of letting the other guy make the rules and then using them to beat him at his own game.

[Issachar]

I think it's the inevitable state of humanity that eventually any society will need extreme policing. Goinghome, imho there is MUCH wisdom in your post and especially the opening line.

THAT is EXACTLY true. What the "world" calls freedom ALWAYS leads to the worst sort of bondage. The more they sense bondage, the more they try the same thing; doing what they want rather than obeying God, to try and sense freedom which leads to even more bondage which leads to more effort in the same direction ..... ad nauseum.

True freedom is, of course, in Christ. Sometimes I use the analogy of driving a car. IF you obey the stop signs and traffic lights and drive on the correct side of the road and go at the speed limit, etc., etc. ..... you are free to drive. Freedom is in obedience.

Issachar

[lilbitsyspider]

It bothers me.

[Hal4511]

I am a trader, I watch the markets everyday trying to make a dollar in the markets. This latests proposal by Bush is exactly what it seems ... desperation. If they would leave the so called "free markets" alone they would fix themselves, granted a lot of money would be lost but the markets are inherently self correcting.

Did anyone see where Lehman's paper was rejected at the last Fed auction ??? Their credit is so bad that even the government won't accept it, they are probably next in line to fall. The system is on the verge of collapse and the masses have no idea whats happening. This is the setup for another false flag attack and martial law in my opinion ...

Hang on people its going to get worse, when they get the price of fuel and food so high no one can afford it then we will see the true unraveling begin ...

Best of luck to all