We need to keep writing and calling ‘our leaders’ folks !!
READ THE COMMENTS: this I didn’t know: "fred55 said..
i am a lawyer, yes, but lets keep this simple
sometime ago (about 20-ish years) under the supremacy clause, THE FEDS preempted state laws which were holding that derivative contracts were void and unenforceable as gambling contracts."
Which gets back to "The Supreme Court and lower courts have decided that the commerce clause of the US Constitution allows Congress to pass laws regulating INTRAstate commerce (eg, intrastate sales of wheat) because they indirectly impact INTERstate commerce."
— which leads to how the Government has subverted the Constitution !!
The ‘liberal’ interpretation of the Commerce Clause has done nothing but screw up this nation.
And if what they say is true, why was Lehman forced into bankruptcy and AIG bailed out ?!!?!!??
"The biggest red flag about the DTC claim is that AIG, by press reports, appears to have run its operation pretty much as a naked protection writer. They were a very major player. That would therefore also imply that DTCC’s claim that it has a comprehensive view of the market bears some examination."
"In terms of the post at issue, after careful parsing I’m fully convinced it’s just an attempt to mislead the public. Consider this carefully worded excerpt below:
"The payment calculations SO FAR PERFORMED by the DTCC Trade Information Warehouse indicate…."
Yes indeed. "SO FAR PERFORMED".
"The art of dissembling. NEVER lie, but ALWAYS mislead through masterful parsing."
—-is something that the politicos and their appointees are VERY good at; Greenspan had it down to an art.
Buying stock in Unilever (owners of ‘Vaseline’) might be a good investment given how we are being screwed so mightily.
"The three elements – liquidity support, inter-bank lending guarantees, and recapitalisation of distressed banks – are the core of last week’s Brown plan and will, with national variations to take account of differing systems, to become the European standard."
"Brown emphasised that the government guarantees for inter-bank lending were "absolutely crucial" to freeing up the banking paralysis."
BUT "This also means the market’s new favorite idea of having G7 countries guarantee all inter-bank loans will do nothing. If enacted, banks would still be missing an incentive to use the inter-bank loan market because they can get all the funding (loans) they need from their neighborhood central bank and at a much lower rate."
Private sector loans, not Fannie or Freddie, triggered crisis
"As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail."
Morgan Stanley `Urgently Needs Rescue,’ Soros Writes in FT
"The Treasury should match the Japanese company’s injection by acquiring PREFERRED stock that converts to shares at a price higher than Mitsubishi UFJ’s purchase price, Soros wrote in the column, published today on the Web."
A system overwhelmed by innovation
"Obama’s ambitions to extend health insurance to all Americans, to refurbish failing infrastructure, to make college affordable and to cut taxes will run up against the amazing demands that the rescue will place on present and future taxpayers, writes Clive Crook "
Why the greenback is on a tear
"When this process plays itself out," says University of Oregon economics professor Tim Duy, "the fundamentals working against the dollar will come into focus again."