Deja vu all over again - XDTalk Forums

KEVWYO · 11-03-2009, 01:29 AM

The banking industry is going to take the economy down ... again. Of course regulating the banking industry so they won't engage in the same shell games that screwed the economy the first time seems to be a no-no to some. While some say the administration is dithering on making a decision on Afghanistan it's unbelievable that nothing has been done to clean up the banking industry/Wall Street.

New Market Bubble Is Brewing | Newsweek The Next Economy | Newsweek.com

"The reality is that no one can be sure when the private sector will return to health. A good chunk of the profit recently posted by major multinationals has been wrung from cost cutting rather than from new ideas and sales. Banks like Goldman Sachs have pocketed record gains in recent quarters in part because lucrative trading positions no longer attract as many big players, now that so many big players are dead. The risky plays that killed them are still legal because there's been no real cleanup of the world financial sector. Bankers are likely to rack up huge bonuses this year as a result of the echo bubbles, a ringing incentive to indulge the short-term thinking that everyone says is part of the problem. Trading in derivatives and other explosive assets is still largely unregulated, even as governments take on mind-boggling debts in order to shore up the financial systems those assets brought down. It's no secret who'll foot the bill for it all: private citizens and private business. As Nobel Prize-winning economist Vernon Smith puts it, "The Fed has reserved us all!"

trik396 · 11-03-2009, 07:04 AM

Wall street and big banks have ruled this country since the 1920's and continue to do so. They are in bed with EVERY administration and until that changes, nothing will change.

I have so much more I'd like to say but gotta get to work...

**ForTehNguyen** · 11-03-2009, 07:52 AM

end the fed

**OKMatt** · 11-03-2009, 08:14 AM

Let failed business fail. Then we will see a change.

norinco982lover · 11-03-2009, 08:48 AM

Quote:

Originally Posted by ForTehNguyen

end the fed

It's our only hope!!!

Palmguy · 11-03-2009, 09:28 AM

There is something very sinister about Goldman Sachs...

/tinfoil

**Ed Ely** · 11-03-2009, 09:32 AM

Quote:

Originally Posted by ForTehNguyen

end the fed

And, end all lobbying...........period! Special
interest groups run (ruin) this country, not we
voters.

Ed

ichy_trigger · 11-03-2009, 09:40 AM

Quote:

Originally Posted by Ed Ely

And, end all lobbying...........period! Special
interest groups run (ruin) this country, not we
voters.

Ed

There ya go right there. If the companies and orginizations cant lobby, then there is less chance of them putting their hands where they dont belong.

**ArmyGuy45** · 11-03-2009, 09:55 AM

Quote:

Originally Posted by norinco982lover

It's our only hope!!!

But can we switch back over to a gold currency? Gold will either sky rocket or we will pay 1000 bucks for a loaf of bread...

**Carnivorous** · 11-03-2009, 10:09 AM

Quote:

Originally Posted by Ed Ely

And, end all lobbying...........period! Special
interest groups run (ruin) this country, not we
voters.

Ed

If you can find a way to distinguish between "special interest groups" and legitimate voter concerns, then share it with the rest of the country.

Everyone thinks their concerns are legitimate and those of others are special-interest nonsense, just like everyone thinks their incumbent is doing a good job and everyone else needs to go, just like everyone thinks their local funding is important and everyone else's is porkbarrel...

11-03-2009, 01:29 AM	#1
KEVWYO XDTalk 5K Member Join Date: Apr 2007 Location: Oregon Posts: 7,818	Deja vu all over again The banking industry is going to take the economy down ... again. Of course regulating the banking industry so they won't engage in the same shell games that screwed the economy the first time seems to be a no-no to some. While some say the administration is dithering on making a decision on Afghanistan it's unbelievable that nothing has been done to clean up the banking industry/Wall Street. New Market Bubble Is Brewing \| Newsweek The Next Economy \| Newsweek.com "The reality is that no one can be sure when the private sector will return to health. A good chunk of the profit recently posted by major multinationals has been wrung from cost cutting rather than from new ideas and sales. Banks like Goldman Sachs have pocketed record gains in recent quarters in part because lucrative trading positions no longer attract as many big players, now that so many big players are dead. The risky plays that killed them are still legal because there's been no real cleanup of the world financial sector. Bankers are likely to rack up huge bonuses this year as a result of the echo bubbles, a ringing incentive to indulge the short-term thinking that everyone says is part of the problem. Trading in derivatives and other explosive assets is still largely unregulated, even as governments take on mind-boggling debts in order to shore up the financial systems those assets brought down. It's no secret who'll foot the bill for it all: private citizens and private business. As Nobel Prize-winning economist Vernon Smith puts it, "The Fed has reserved us all!"
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11-03-2009, 07:04 AM	#2
trik396 XDTalk 2K Member Join Date: Oct 2007 Location: currently elsewhere Posts: 2,416	Wall street and big banks have ruled this country since the 1920's and continue to do so. They are in bed with EVERY administration and until that changes, nothing will change. I have so much more I'd like to say but gotta get to work... __________________ ‘‘When we got organized as a country and we wrote a fairly radical Constitution with a radical Bill of Rights, giving a radical amount of individual freedom to Americans ...... And so a lot of people say there's too much personal freedom. When personal freedom's being abused, you have to move to limit it.’’ — Bill Clinton, 3-22-94
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11-03-2009, 07:52 AM	#3
ForTehNguyen XDTalk 5K Member Join Date: Feb 2008 Location: Houston, Texas Posts: 5,858	end the fed __________________ XD9 Service Black, XD9 Subcompact x 2 Kimber Tactical Custom II, Walther P22 AR15 16" Midlength, Carbine Tacticooled, 20" A2 Style Lancaster AK47, Hungarian AMD65, Yugo & Chinese SKS Remington 870 12ga Express Taxed Enough Already
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11-03-2009, 08:14 AM	#4
OKMatt XDTalk 1K Member Join Date: Feb 2008 Location: The Gun Friendliest State in the Union Posts: 1,528	Let failed business fail. Then we will see a change. __________________ “Few men desire liberty. Most are satisfied with a just master.” Gaius Sallustius Crispus- circa 45 BC While Congress does not have constitutional authority for most of what it does, it does have police and military power to inflict great pain and punishment for disobedience. Walter E Williams Ah, F**k it Dude. Let's go bowling.-Walter Sobchak
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11-03-2009, 09:28 AM	#6
Palmguy XDTalk 3K Member Join Date: Oct 2006 Location: Florida Posts: 3,189	There is something very sinister about Goldman Sachs... /tinfoil __________________
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