Black People : Federal regulators, now Blocking regulation of Wall street?

Discussion in 'Black People Open Forum' started by Ankhur, Jun 14, 2010.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

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    you can't make this stuff up

    A Senate proposal to force banks to shed their lucrative yet risk-laden derivatives units -- which is vehemently opposed by Wall Street -- is gaining steam, picking up the support of some regional Federal Reserve chiefs with more on the way.

    Yet President Barack Obama's Treasury Department, led by Timothy Geithner, continues to oppose the measure, say these aides, who add that Treasury is supporting Wall Street over Main Street by opposing the measure considered of "utmost importance" to financial stability.

    "It shows the access of the major Wall Street banks in the Treasury Department in spades," one Senate aide said on the condition of anonymity. Assistant Treasury Secretary for Financial Institutions, Michael S. Barr, is said to be leading Treasury's efforts.

    Senate aides say that more letters of support from other regional Fed presidents are on the way.

    Treasury is joined in its opposition to the measure by the Federal Reserve's Washington-based Board of Governors and the head of the Federal Deposit Insurance Corporation, Sheila Bair.

    Meanwhile, supporters include the longest-serving policy maker in the Fed, Federal Reserve Bank of Kansas City President Thomas Hoenig, Federal Reserve Bank of Dallas President Richard Fisher, Nobel Prize-winning economist Joseph Stiglitz and House Speaker Nancy Pelosi.

    Hoenig and Fisher wrote letters of support last week to Senate Agriculture Committee Chairman Blanche Lincoln, the author of the provision, referring to it

    http://www.huffingtonpost.com/2010/06/14/obamas-treasury-dept-work_n_611205.html
     
  2. Bxblasta

    Bxblasta Well-Known Member MEMBER

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    The same banksters who deregulated wall street which played a part in the sub-prime mortgage fiasco, are the same ones who are involved in the new regulations supported by Obama. The Rothchilds control of the federal reserve goes deep. My advice is to sit back and enjoy the show, because politics is a huge wrestling match. Just like wrestling, it looks real but at the end of the day to your disappointment it was all staged acting.
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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    true that

    seems like they can get away with stuff,

    they couldn't before,

    but as man of African descent there is not a darn thing for me to sit back and enjoy ,
    since milions of Black folkshard earned dollars,
    were gambled away in those hedge funds and derivatives, so they can watch sisters an brothers lose house and home
     
  4. Bxblasta

    Bxblasta Well-Known Member MEMBER

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    I'm not advocating to sit back and let these sick people rape our culture, no way possible can we let that happen anymore. I'm speaking in regards to politics which is a fraud, a game, a scam. The important thing is not to get caught in the political hype because it is all strategic distraction. There is a reason why politics has been turned more into mindless entertainment than a forum for representatives of the country to express ideas of change for the better. We have no representatives because American is a corporation not a country, and we are the workers.
     
  5. Ankhur

    Ankhur Well-Known Member MEMBER

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    check out my post about the Matrix that goes into that in detail
     
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