If you're interested this is from the RealNews (a VERY liberal media outlet) has an interesting take on The Dodd–Frank Wall Street Reform and Consumer Protection Act. Short Summary: It's been gutted, has done pretty much next to NOTHING to regulate WallStreet and BIG Finance. Joe spend half of last year talking up how great this reform has been and this has been shown to be a complete sham. To add insult to injury BOTH Democrats and Republicans are gutting the regulatory agencies such that what little (very little) in this Act might have been will not be done simply because there's not the man-power. These unregulated "Dark Markets" are THREE TIMES larger than the entire global economy. We are f*cked.
This is an outstanding interview...and the REAL news network is one of the few places you can get in-depth reporting. We have to ask...does Barney Frank or Chris Dodd even care about economics? Did they just assume that regulators will know better...and then washed their hands of the responsibility? The same regulators who allowed the crisis to happen?
Unregulated markets do indeed produce disaster for most people in a given economy. That is injury, not insult, and one of Reaganomics's most damaging bequeathments to W&Co (the Dems, outside of the Blue Dogs, had little to do with it).
Why do you insist trying to reform the present system? Why are you so enamored with Central Banks? You probably don't even know much about the monetary system that's pimping you out. One more time: When the government sells BONDS to Chinese (or anyone for that matter) to pay for that healthcare and road work you love so much - what is backing the value in those bonds? Well? It's your future labor. So. Guess what? It's pay time. Time to pay for your grandparents nice life style. Does that make you feel good? I mean, Bonds are regulated by the Central Bank and issued by BIG government. I thought that's what you wanted? Oh, I see. You wanted the medical and the university and the roads - you just didn't want to pay. You were hoping you could pass the buck to your kids. Nope. It's you the buck was passed to. So, be happy, it's your system. Still thinking there's a difference between Democraps and Repukelicans I see. Good for you. You had your day out to "vote". Obama won 2012 just like 2008. Enjoy it. Feel good about that. OK now, break time over, get back in your stall - time to make milk for the Chinese. Moo Moo Moooooooo.......
