this is what low levels of regulations gets you

[Truthmatters]

It wasn't deregulation, it was lack of regulations, that Bush wanted.
Deal with the Truth TM
NY Times reported what Bush wanted, a New Agency to Oversee Freddie & Fannie.
If that Agency been formed it would have found the rest of the illegal trading that was going on in the world banks.

so now you like new big government programs?

why can you NEVER retain your beliefs when YOUR side goes against your own "principles"?


because you dont really do anything but back your party no matter what

It would not have been necessary if the Dems had not started Frannie and Freddie in the first place.

dear mind controled fool.

Only partisan hack idiots believe FandF caused this mess.

 

[saveliberty]

why cant you people answer with facts and instead do nothing but personal insults?

Because you can't grasp facts or reality. It is a kindness on our part, you're welcome.

 

[Truthmatters]

personal insults?


they make for very bad info

they make your decisions based on hate of your fellow Americans.

Its why you are always wondering why things dont work our for your party

 

[Rat in the Hat]

personal insults?


they make for very bad info

they make your decisions based on hate of your fellow Americans.

Its why you are always wondering why things dont work our for your party

 

[peach174]

so now you like new big government programs?

why can you NEVER retain your beliefs when YOUR side goes against your own "principles"?


because you dont really do anything but back your party no matter what

It would not have been necessary if the Dems had not started Frannie and Freddie in the first place.

dear mind controled fool.



Only partisan hack idiots believe FandF caused this mess.

It wasn't all of it, but it was a very large part of it.
If the Dem's had not fought the new agency that Bush wanted that new agency would have been able to find the illegal goings on in the UK's Countrywide Company plus many of the others worldwide.

 

[KissMy]

It is TIME for republicans and libertarians to admitt their core idea of deregulation being GOOD for the economy has been pummeled by reality.

Stop using failed ideas to try and attract voters.

They found out your ideas are historically failed ideas and you will NEVER win another election with them.

Libertarian Alan Greenspan already admitted this!

So when are you going to admit that GSE, Sub-Prime & Affirmative Action lending is a problem?

 

[Truthmatters]

why ?

its not a problem.


I want the rest of you right wing people to admitt the idea of deregulation is a failed idea

 

[peach174]

personal insults?


they make for very bad info

they make your decisions based on hate of your fellow Americans.

Its why you are always wondering why things don't work our for your party

It's to bad you don't listen to your own advise.
dear mind controlled fool?
Perhaps they would not do personal insults back at you if you didn't do it to them first.

 

[Rat in the Hat]

why ?

its not a problem.


I want the rest of you right wing people to admitt the idea of deregulation is a failed idea

I want you to stop getting paid to post.



I guess we're both out of luck, huh?

 

[KissMy]

why ?

its not a problem.

Denial is not a river in Egypt, pal!

 

[Quantum Windbag]

Secret Libor Transcripts Expose Trader Rate-Manipulation - Bloomberg


Light Touch

The scandal demonstrates the failure of London’s two-decade experiment with light-touch supervision, which helped make the British capital the biggest trading hub in the world. In his 10 years as Chancellor of the Exchequer, Gordon Brown championed this approach, hailing a “golden age” for the City of London in a June 2007 speech. Even after the FSA pledged to toughen its rules following the 2008 financial crisis, supervisors failed to act on warnings that the benchmark was being manipulated.

Regulators have known since at least August 2007 that banks were using artificially low Libor submissions to appear healthier than they were. That month, a Barclays employee in London e-mailed the Federal Reserve Bank of New York, questioning the numbers that other banks were inputting, according to transcripts published by the New York Fed.

Nine months later, Tim Bond, then head of asset allocation at Barclays’s investment bank, publicly described the Libor figures as “divorced from reality,” saying in a Bloomberg Television interview that firms were routinely misstating their borrowing costs to avoid the perception they were facing stress.

The New York Fed and the Bank of England say they didn’t act because they had no responsibility for oversight of Libor. That fell to the British Bankers’ Association, the industry lobbying group that created the rate and largely ignored recommendations from central bankers after 2008 to change the way the benchmark is computed. Regulators also were preoccupied with the biggest financial crisis since the Great Depression, and forcing banks to be honest about their Libor submissions might have revealed they were paying penalty rates to borrow.

Looks to me like there was plenty of regulation. Surprisingly enough, the regulations didn't stop anything.

 

[Lonestar_logic]

what is this "this" you are refering to?

You can't remember your own argument? You post shit and harp on things that happened in '07-'08. And then you blame it on Republicans. Damn, you are one dense individual.

Is one of the MAIN tennets of your party Deregulation?

yes


Is that an historically failed idea?

yes

Depends on the industry. Not every regulation is needed or is helpful. Some industries need more not less regulations and some industries need fewer..

Some regulations are redundant and should be abolished or reformed.

The difference between you, a liberal, and me a conservative is that you believe the government job is to coddle you throughout life and to keep the big bad corporations from taking advantage of you. I believe in personal responsibility and I do not need the government looking out for me, I can look out for myself.

 

[Truthmatters]

You are the one who claims all deregulation is GREAT!


It is not and has proven disastorous for this country and others repetedly throughout history.

Wise regulations are one thing.

Revising regulations to meet new market developments is Great.


What the republican party has done for decades now it try to DEREGULATE EVERYTHING no matter what the situation calls for.


Look at what that Gov jsut did to labor in his state after claiming he would NOT do this in the last election

 

[Quantum Windbag]

http://www.bloomberg.com/news/2012-1...ght-touch.html


Light Touch

The scandal demonstrates the failure of London’s two-decade experiment with light-touch supervision, which helped make the British capital the biggest trading hub in the world. In his 10 years as Chancellor of the Exchequer, Gordon Brown championed this approach, hailing a “golden age” for the City of London in a June 2007 speech. Even after the FSA pledged to toughen its rules following the 2008 financial crisis, supervisors failed to act on warnings that the benchmark was being manipulated.

Regulators have known since at least August 2007 that banks were using artificially low Libor submissions to appear healthier than they were. That month, a Barclays employee in London e-mailed the Federal Reserve Bank of New York, questioning the numbers that other banks were inputting, according to transcripts published by the New York Fed.

Nine months later, Tim Bond, then head of asset allocation at Barclays’s investment bank, publicly described the Libor figures as “divorced from reality,” saying in a Bloomberg Television interview that firms were routinely misstating their borrowing costs to avoid the perception they were facing stress.

The New York Fed and the Bank of England say they didn’t act because they had no responsibility for oversight of Libor. That fell to the British Bankers’ Association, the industry lobbying group that created the rate and largely ignored recommendations from central bankers after 2008 to change the way the benchmark is computed. Regulators also were preoccupied with the biggest financial crisis since the Great Depression, and forcing banks to be honest about their Libor submissions might have revealed they were paying penalty rates to borrow.

This was a failure to propoerly regulate this industry.


When you just trust any industry you get failure of the system.

History proves this over and over and over.

London Interbank Offered Rate has nothing to do with the US, the article made that clear. The article also points out that regulators are investigating what happened, and have even fined a few of the participants. That means that the regulations that cover what they did already exist, so the problem is not a lack of regulation.

 

[Quantum Windbag]

It is TIME for republicans and libertarians to admitt their core idea of deregulation being GOOD for the economy has been pummeled by reality.


Stop using failed ideas to try and attract voters.

They found out your ideas are historically failed ideas and you will NEVER win another election with them.

Was deregulation bad for the economy when liberal Democrats championed it? If businesses like deregulation why do so many large corporations aand banks actively support them?

 

[KissMy]

Depends on the industry. Not every regulation is needed or is helpful. Some industries need more not less regulations and some industries need fewer..

Some regulations are redundant and should be abolished or reformed.

The difference between you, a liberal, and me a conservative is that you believe the government job is to coddle you throughout life and to keep the big bad corporations from taking advantage of you. I believe in personal responsibility and I do not need the government looking out for me, I can look out for myself.

You would be killed, slaughtered & eaten in an Ayn Rand society. Effective fair just laws & enforcement are required for growing advanced civilization.

 

[Quantum Windbag]

Libor - Wikipedia, the free encyclopedia


Fixed rates in USD

There are three Money Markets in the world having interbank offered rate fixings in USD, including:
Libor fixed in London
Mibor, or MIBOR (Mumbai Interbank Offered Rate) fixed in India
Sibor,or SIBOR (Singapore Interbank Offered Rate) fixed in Singapore
Hibor, or HIBOR (Hong Kong Interbank Offered Rate) fixed in Hong Kong
Kibor, or KIBOR (Karachi Interbank Offered Rate) fixed in Pakistan


The USD Libor in London is the most recognized and predominant one. The USD Sibor was established in January 1988, and the USD Hibor was launched in December 2006. Although these fixings in USD use similar methodology by fixing at 11:00 am at their local times, the results of the three fixings are different

None of these are in the US, are they?

 

[peach174]

why ?

its not a problem.


I want the rest of you right wing people to admitt the idea of deregulation is a failed idea

It's working quite well in African Countries that have done it as well as Singapore.
Over regulation in many African countries caused the black markets.
It's a delicate balance between regulation and over regulation.

 

[Quantum Windbag]

Regulators have known since at least August 2007 that banks were using artificially low Libor submissions to appear healthier than they were.

This isn't "De-Regulation" it's corrupt "Non Regulation".

Other posts have been made on the Libor scandal but self professed "experts" like Expat Panama have said that it was no big deal. In fact if I remember his words correctly he said "Banks loaning each other money at a low rate? How is that a scandal?"

It's precisely a scandal because they loan each other money at a low rate but they loan us money at a higher rate.

Plus these Predatory Banks have been hiding their losses off balance sheet to make it appear they are healthier than they are. The regulators and rating agencies are supposed to give fair and honest ratings so that Ordinary Folk like us can make the right Investment decisions but they haven't been doing so.

It's a Major Scandal but it has NOTHING to do with "De-Regulation" as the OP would like you to believe.

You do know that the US is not in charge of foreign banks, don't you? Are you going to start demanding that we regulate everyone in the world now?

 

[Lonestar_logic]

Depends on the industry. Not every regulation is needed or is helpful. Some industries need more not less regulations and some industries need fewer..

Some regulations are redundant and should be abolished or reformed.

The difference between you, a liberal, and me a conservative is that you believe the government job is to coddle you throughout life and to keep the big bad corporations from taking advantage of you. I believe in personal responsibility and I do not need the government looking out for me, I can look out for myself.

You would be killed, slaughtered & eaten in an Ayn Rand society. Effective fair laws (not amount) & regulation are required for growing advanced civilization.

I don't walk lock step in line with anyone or any group. I think for myself, do my own research and draw my own conclusions.