BREAKING NEWS... WHITE HOUSE PROPOSAL

Sure let's all bow down to the Feds...

Emperor Bernanke.


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

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.

Edited by SemiBizz, 28 March 2008 - 09:29 PM.

"Fed role and to subject investment banks to the same rules that commercial banks now must follow, especially for capital reserves. " Gosh, it seems so "unfair" LOL! I can just hear Cramer now.

"Fed role and to subject investment banks to the same rules that commercial banks now must follow, especially for capital reserves. "

Gosh, it seems so "unfair" LOL! I can just hear Cramer now.

What that means, for all intents and purposes is, that there will no longer be any "private" investment banks. They will all be federal banks subject to the same federal laws and regulations.

It will just make future bailouts by the Fed legal.

Edited by milbank, 28 March 2008 - 09:41 PM.

This is the beginning of BIG CORRUPTION'S recognition wave. The fact that Rick Santelli has difficulty telling the hammer and sickle from a swastika.... well I still take his meaning. As far as Kudlow rolling over in his grave...I think you are indulging in wishful thinking. Larry (and his bosses) will get with the program My FF , Snappy New Uniforms Allround.

"Fed role and to subject investment banks to the same rules that commercial banks now must follow, especially for capital reserves. "

Gosh, it seems so "unfair" LOL! I can just hear Cramer now.

What that means, for all intents and purposes is, that there will no longer be any "private" investment banks. They will all be federal banks subject to the same federal laws and regulations.

It will just make future bailouts by the Fed legal.

Absofarginlutely.

This is the beginning of BIG CORRUPTION'S recognition wave.

The fact that Rick Santelli has difficulty telling the hammer and sickle from a swastika.... well
I still take his meaning.

As far as Kudlow rolling over in his grave...I think you are indulging in wishful thinking.
Larry (and his bosses) will get with the program

My FF , Snappy New Uniforms Allround.

That is so fartin' funny. Hahahaha

Listening to Pink Floyd doing echoes from 1971 at the BBC. (billows of soft smoke fill the air)

Edited by The End, 28 March 2008 - 10:54 PM.

Just when I thought the Fed would be placed under the magnifing glass for what they do/did... they gain even more power. Free market you say??? No more. My gut tells me this housing/subprime debacle was allowed to happen so that the Fed would eventually be crowned king of the world. I hope Woodrow Wilson is burning in hell right now... idiot.

Edited by JAP, 28 March 2008 - 10:54 PM.

hard to believe this charade - can Frank, Levitt etc, actually believe what they themselves and others are saying... very clear attempt to consolidate, to manipulate. Agencies, SEC were allowed by their charter to investigate - they did not do it, not because of confusion, but because they were told from on high, dont. poor Citi, the only reason they have all that off balance sheet? They have a zillion entities, like every other IB bank, and the idea is to shift capital where it is regulated least - they will do so no matter what fraework is cooked up..millbank has it right. I hear ya JAP, jack and TE. personally, i think we should all write to our main newspaper about this. klh

Edited by dasein, 28 March 2008 - 11:03 PM.

You all sound pissed that The Great Depression has been delayed.. yet once again. Why? Btw, this doesn't fix anything. Just like FDR closing the banks for a bank holiday way back when. Just keep shorting. The world can collapse and when mad max is roaming the roads, you can cash in on your shorts and buy yourself a kick @ss death mobile.

horrid idea, for many reasons. if the feds were so great there were plenty of laws and regulations on board to stop the predatory lending before it became a poison pill. this is just to make the feds look good and make us believe that if they JUST had enough laws the OH SO SMART GUBMINT people would make things peachy. NOT !