Financial Reform

Fannie And Freddie; The Bottomless Pit

Whatever the fix, the money spent will not be recovered, said Alex Pollock, a former president of the Federal Home Loan Bank of Chicago who is now a fellow at the Washington-based American Enterprise Institute. “It doesn’t matter what you do or don’t do, Fannie and Freddie will cost a lot of money,” Pollock said. “The money is already lost. There’s an attempt to try to avert your eyes.” Quoting Sen. Gregg, here is the herd of elephants in the room, (no mention of these two in the Dodd financial reform bill): Fannie-Freddie Fix at $160 Billion With $1 Trillion…
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Three Republicans Vote For Cloture On The Senate Financial Bill (UPDATED: Video)

Are you ready for a new federal government agency (Office Of Financial Research) under the direction of Treasury that has a $500 BILLION DOLLAR YEARLY BUDGET, can invest appropriations it is not using, and the profits are no longer your money? Are you ready for every single monetary transaction you make to be in a government database? You can thank Olympia Snowe, Susan Collins, and Scott Brown. Senate Clears Way for Final Vote on Financial Bill WASHINGTON—U.S. senators took a major step toward passage of a broad revamp of U.S. financial markets Thursday as Democratic leaders were able to secure…
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Obama Stands His Ground With Republicans On ‘Financial Reform’

Does anyone find it odd that Bambi 'holds' his ground with the republicans but chokes with the Somali Pirates and bows to just about everybody else? Mr. Kuttner obviously has not read Dodd's 1400 page masterpiece enough to know that it allows for bailouts in perpetuity (pg 1379).  I haven't even gotten all the way through the book on financial reform and I already know that creating a new government agency with a $500 BILLION DOLLAR YEARLY budget to keep track of every single financial transaction known to mankind, invest money, and then report on the firms they have invested…
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Gerald Celente’s Take On Financial Reform (UPDATED)

Gerald Celente of Trends Research Institute believes that the financial reform bill being put forward by Chris Dodd is just more dog and pony show coming out of the District.  Mr. Celente does not pull any punches in this interview with Russia Today about the players involved and the massive amount of money that is flowing back and forth between D.C. and Wall Street.  He even talks about the $10 million that Dodd has received from the financial sector in five years, and Greg Craig slithering from the White House over to Goldman Sachs to help out. (more…)
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