The Party of NO

Being · 04-26-2010, 05:59 PM

BBC News - US Republicans block debate of finance rules reform

Quote:

US Senate Republicans have blocked moves to start a debate on sweeping reform of financial regulations.

It's one thing to vote no on an issue, but to vote no on THE DEBATE OF THE BILL? So no one can even start talking about possible compromises, workouts etc.? Partisan obstructionism for the purpose of political gain at it's best.

FistsForPeace · 04-26-2010, 07:35 PM

Not all that surprising. Republicans have a lot to lose from financial reform.

kamikazi89 · 05-07-2010, 05:33 AM

Goldman Sachs: Summary | OpenSecrets

The Rev · 05-07-2010, 07:01 AM

The link failed to mention that Goldman is a Primary Dealer. ( Primary dealer - Wikipedia, the free encyclopedia ) What this means is, they broker purchases of Treasury Bills from the Treasury by the Federal Reserve, a process the Fed calls Open Market Operations. OMO is how new money is created. The Fed creates new money, and buys Treasuries, injecting the liquidity into the market. After the market crash in 2008, the money supply increased about 15%, equal to around $200 billion. Primary Dealers like Goldman, and others, made commission on every cent of it.

Imagine being able to make a commission on the national debt as the government runs it up... There's no way in hell that Goldman, or any of these other priviledged banks, is going to get any more punishment from Washington than alot of show and maybe a ceremonial slap on the wrist. These banks OWN the government.

The Rev

kamikazi89 · 05-09-2010, 07:33 AM

technically they just borrowed it from the federal reserve

zerodown · 05-10-2010, 08:57 AM

Quote:

Originally Posted by kamikazi89

technically they just borrowed it from the federal reserve

technically the fed has no money to lend, they create at will.

05-07-2010, 07:01 AM	#4 (permalink)
The Rev Adorable Idiot Join Date: Oct 2002 Location: There's no one here. Posts: 22,078 Thanks: 6,142 Thanked 7,257 Times in 3,650 Posts	The link failed to mention that Goldman is a Primary Dealer. ( Primary dealer - Wikipedia, the free encyclopedia ) What this means is, they broker purchases of Treasury Bills from the Treasury by the Federal Reserve, a process the Fed calls Open Market Operations. OMO is how new money is created. The Fed creates new money, and buys Treasuries, injecting the liquidity into the market. After the market crash in 2008, the money supply increased about 15%, equal to around $200 billion. Primary Dealers like Goldman, and others, made commission on every cent of it. Imagine being able to make a commission on the national debt as the government runs it up... There's no way in hell that Goldman, or any of these other priviledged banks, is going to get any more punishment from Washington than alot of show and maybe a ceremonial slap on the wrist. These banks OWN the government. The Rev __________________ Budforce - My Friend August 29, 1973- May 25, 2012

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04-26-2010, 07:35 PM	#2 (permalink)
FistsForPeace YaHookan Join Date: Jan 2010 Posts: 62 Thanks: 7 Thanked 14 Times in 11 Posts	Not all that surprising. Republicans have a lot to lose from financial reform.

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