The markets were fine for the first 45 minutes of trading today. Then it went downhill for 170+ points. Why? Most news wires said it’s because of the heavy handed proposal B.O. is about to deliver today got leaked out and spooked the market. What do you think? Is it B.O.?
Weren’t jobless claim up?
Are you just trolling with these posts? Or are you really this stupid?
Backlog of jobless claims, Public Sector screwing us again. How can they get paid so much (relative to their skillset) and still be so unmotivated.
Because Obama is announcing retarded new banking regulations.
Hello Mister Walrus Wrote: ------------------------------------------------------- > Because Obama is announcing retarded new banking > regulations. +1. Just saw his speech. WTF!!!
^Thank you!! Limiting prop trading hurts more than paying taxes.
Obviously its BO. The earthquake in Haiti is his fault too, haven’t you heard?
lets hope the stocks keep on falling…we need it down significantly.
NakedPuts, yes, you are really this stupid… To be serious, hope you had a good laugh and have no hard feelings, man.
“My resolve to reform the system is only strengthened when I see a return to old practices at some of the very firms fighting reform,’’ Obama said in a statement released by the administration. Old practices?? LOL, i think there is a general consensus at this point that BO totally lost it and he is a lame duck.
king_kong Wrote: ------------------------------------------------------- > Obviously its BO. The earthquake in Haiti is his > fault too, haven’t you heard? Same as when people said Bush had a weahter control machin in this office when Katrina hit.
Because BO opened his mouth and apprently his breath stinks too, because the following came out: The proposal would: 1. Limit the Scope-The President and his economic team will work with Congress to ensure that no bank or financial institution that contains a bank will own, invest in or sponsor a hedge fund or a private equity fund, or proprietary trading operations unrelated to serving customers for its own profit. 2. Limit the Size- The President also announced a new proposal to limit the consolidation of our financial sector. The President’s proposal will place broader limits on the excessive growth of the market share of liabilities at the largest financial firms, to supplement existing caps on the market share of deposits.
adavydov7 Wrote: ------------------------------------------------------- Let’s really think about these: > 1. Limit the Scope-The President and his > economic team will > work with Congress to ensure that no bank or > financial institution that contains a bank will > own, invest in or sponsor a hedge fund or a > private equity fund, Do you think this is really a big deal? I don’t care for the idea, but forcing the banks to spin out these operations won’t matter much. or proprietary trading > operations unrelated to serving customers for its > own profit. I do think this is stupid, (why does a firm need to have specific customers?) but again, capitalism will fill the void. > 2. Limit the Size- The President also > announced a new > proposal to limit the consolidation of our > financial sector. > The President’s proposal will place broader limits > on the excessive growth of the market share of > liabilities at the largest financial firms, to > supplement existing caps on the market share of > deposits. This is a fantastic idea - let’s start by bringing back Glass-Steagal.
^Yea, fantastic! [/sarcasm off]
“Banks should not be trading proprietary capital.” Translation: Hedge funds are going to make a sh!tload of money.
How can anyone think that restricting banks from proprietary trading is a bad idea? If bank deposits are insured with our tax money, there’s is no way they should be gambling with it.
king_kong Wrote: ------------------------------------------------------- > How can anyone think that restricting banks from > proprietary trading is a bad idea? If bank > deposits are insured with our tax money, there’s > is no way they should be gambling with it. Not sure how the accounting work is done. However, I am pretty sure the bankside is not doing the prop trading, only the IB part of the business is doing the prop trading.
^ I don’t think it really matters how its accounted for. If a bank is taking on large losses from its prop trading, the whole business is at risk and needs to get bailed out.
I love Canada and how it makes tangible goods you can hold with your hands and not “services.”