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mises
Joined: 05 Nov 2007
Location: retired
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 Posted: Tue Jun 01, 2010 6:02 am Post subject: |
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| rollo wrote: |
| Yes they walked off with billions. I remember Jim Cramer(I know but sometimes hes right), ranting about show trials for the perps. What he meant was very public noisy prosecutions. this would let the public know that the government cared. So far this lame attempt to pillory Goldman is all that has been done. That is one of the major sources of the rage. |
I agree. Goldman will likely settle with the SEC and pay a small fine.
Janet Tavakoli has been going on about fraud for a decade. Here are two recent interviews:
http://www.cbc.ca/video/#/News/Money/ID=1473248390
http://vimeo.com/11120284 |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Jul 27, 2010 12:16 pm Post subject: |
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If Regulators Say Trade Through a Central Exchange...
Goldman Sachs starts a central exchange.
Is it me, or does it just seem that whatever the rules or regulations, Goldman comes out on top and pretty much ends up running the show?
Regulators are preparing rules that will require the majority of privately traded derivatives be cleared through central counterparties.
Goldman Sachs announced today the launch of its Derivatives Clearing Services (DCS) business. The DCS will provide clients with a comprehensive global OTC clearing service for interest rates, credit, foreign exchange, equities and commodities, says Goldman. |
http://www.economicpolicyjournal.com/2010/07/if-regulators-say-trade-through-central.html
Funny ^
Since Goldman will now house the clearing house, it is necessary for everybody to familiarize themselves with front running:
http://en.wikipedia.org/wiki/Front_running |
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Leon
Joined: 31 May 2010
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| Posted: Tue Jul 27, 2010 1:00 pm Post subject: |
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| .38 Special wrote: |
Here's the thing I tell people who are concerned about the future: Turn off the tv.
A grassroots movements created from the citizen-up sweeps the country and holds protests and conventions that advocate fiscal responsibility, no bail-outs for mega-institutions, regulatory reform of national credit institutions, and an audit of the Federal reserve.
The media paints these people as racists, radicals, crazies, anti-zionists, white supremacists, and generally not nearly as cool and hip as the Obama-nation.
The thing about grassroots organizations is that anybody is invited, for better or worse. They are your neighbors, also for better or worse. It is an upswelling of the citizenry.
But we don't like them. They're unpredictable. They're dangerous. We should create a governmental oversight committee and later an entire department to regulate and control grassroots organizations. We'll appoint a Protestor Czar. In ten years nothing will be accomplished but the department's budget will swell ten-fold.
There is indeed a lot of rage. Keep the rage focused to constructive ends. The politicians and the media will always steer people toward the easy, popular targets.
So turn off your tv. Get out there. Raise Hell. Create a better future. |
Grassroots? Maybe in the beginning, but it's being co-opted by the usual suspects like Newt Gringrich and FreedomWorks. It's funny watching the tea party candidates fall all over themselves. The movement will probably have very little effect on November, and if anything more conservatives will lose due to the polarization that those candidates cause. |
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