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wow; Trouble, check this out
Tweet Topic Started: Jun 15 2009, 08:55 AM (132 Views)
IUCOLTFAN Jun 15 2009, 08:55 AM Post #1
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The administration and Fed Chairman Ben Bernanke would like the central bank to be the overarching "systemic risk" regulator, lording over the financial system in search of flaws and weak stress points. Such a role would give the Fed exceptional authority as both the manager of monetary policy and the overseer of the enterprises with the biggest financial footprint in the country, if not the world.

Also in the debate is how to handle failing institutions that pose a threat to the entire financial system. The administration wants a beefed up FDIC to carry out that function provided such intervention is triggered by Fed or Treasury regulators.


In a speech Friday to the Council on Foreign Relations, Summers offered the administration's counterpoint: "Any financial institution that is big enough, interconnected enough or risky enough that its distress necessitates government writing substantial checks, is big enough, risky enough or interconnected enough that it should be some part of the government's responsibility to supervise it on a comprehensive basis."


Wouldnt that last paragraph include the Federal Reserve?





WOW.......that sucks! What do you think, Trouble?
Edited by IUCOLTFAN, Jun 15 2009, 09:41 AM.
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BoilerUpAT Jun 15 2009, 09:53 AM Post #2
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HR 1207 Petition

Be sure to sign the petition for HR 1207
Close by the Wabash, In famed Hoosier land, Stands old Purdue, Serene and Grand, Cherished in Memory, By all her sons and daughters true, Fair Alma Mater, All Hail Purdue
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thePhilosopher Jun 15 2009, 09:56 AM Post #3
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Everyone needs to be under "systemic regulation" (whatever the hell that means) except the Federal Reserve. Obviously. How else are they going to rob the American people of trillions of dollars?
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brumdog44 Jun 15 2009, 10:00 AM Post #4
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BoilerUpAT
Jun 15 2009, 09:53 AM
HR 1207 Petition

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signed.
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Cattman96 Jun 15 2009, 10:24 AM Post #5
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The nine scariest words in the english language. " I'm with the government and I'm here to help" - Ronald Reagan
"When the people find they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin
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IUCOLTFAN Jun 15 2009, 12:06 PM Post #6
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thePhilosopher
Jun 15 2009, 09:56 AM
Everyone needs to be under "systemic regulation" (whatever the hell that means) except the Federal Reserve. Obviously. How else are they going to rob the American people of trillions of dollars?
That was kinda my point............ ;)
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troubleatiu Jun 16 2009, 05:39 AM Post #7
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if you look back through our recent history, government is notorious for these problem/cause/solution type policies.
all too often however the "problem" is caused by those who are ultimately given power to "solve" it.
space doesnt permit me to elaborate, so ill try to be consise. its a page straight out of the communists' playbook, wherein more government is always the answer. to get the people to willingly accept something that ordinarily they wouldnt, a crisis must be introduced in such a way that people turn to government for the solution. karl marx, jan kozak, and leon trotsky are examples of people who support this type of activity.
also alarming is where summers made his remarks. notice it wasnt at a business or even bankers "convention", it was in a speech to the CFR.
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md11flyer Jun 16 2009, 08:07 AM Post #8
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Jun 15 2009, 09:53 AM
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Maker13 Jun 16 2009, 08:13 AM Post #9
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Signed as well.
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IUCOLTFAN Jun 16 2009, 04:19 PM Post #10
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troubleatiu
Jun 16 2009, 05:39 AM
if you look back through our recent history, government is notorious for these problem/cause/solution type policies.
all too often however the "problem" is caused by those who are ultimately given power to "solve" it.
space doesnt permit me to elaborate, so ill try to be consise. its a page straight out of the communists' playbook, wherein more government is always the answer. to get the people to willingly accept something that ordinarily they wouldnt, a crisis must be introduced in such a way that people turn to government for the solution. karl marx, jan kozak, and leon trotsky are examples of people who support this type of activity.
also alarming is where summers made his remarks. notice it wasnt at a business or even bankers "convention", it was in a speech to the CFR.
Why would he be discussing US monetary policy with the CFR? If he were an elected official, wouldnt that be illegal? These guys are very shady......
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Scoutin1 Jun 17 2009, 02:08 AM Post #11
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IUCOLTFAN
Jun 16 2009, 04:19 PM
troubleatiu
Jun 16 2009, 05:39 AM
if you look back through our recent history, government is notorious for these problem/cause/solution type policies.
all too often however the "problem" is caused by those who are ultimately given power to "solve" it.
space doesnt permit me to elaborate, so ill try to be consise. its a page straight out of the communists' playbook, wherein more government is always the answer. to get the people to willingly accept something that ordinarily they wouldnt, a crisis must be introduced in such a way that people turn to government for the solution. karl marx, jan kozak, and leon trotsky are examples of people who support this type of activity.
also alarming is where summers made his remarks. notice it wasnt at a business or even bankers "convention", it was in a speech to the CFR.
Why would he be discussing US monetary policy with the CFR? If he were an elected official, wouldnt that be illegal? These guys are very shady......
Long-term strategic financial planning on a global level via the International Monetary Fund. Pick up an issue "Foreign Affairs", the CFR's official publication for the globally minded. They discuss more than just foreign political policy; economic and social issues are addressed as well.
Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.

President Woodrow Wilson
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