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Old 04-26-2010, 05:59 PM   #1 (permalink)
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BBC News - US Republicans block debate of finance rules reform

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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.
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but I do show—thanks to a lot of in-depth interviews with GOP sources—how they plotted to obstruct Obama before he even took office. I show how the stimulus was chock full of stuff they claimed to support until Jan. 20, 2009—not just things like health IT and the smart grid and energy efficiency and scientific research, but the very idea of Keynesian stimulus. Every presidential candidate in 2008 proposed a stimulus package, and Mitt Romney’s was the largest.
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Old 04-26-2010, 07:35 PM   #2 (permalink)
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Not all that surprising. Republicans have a lot to lose from financial reform.
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Old 05-07-2010, 05:33 AM   #3 (permalink)
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Goldman Sachs: Summary | OpenSecrets
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Old 05-07-2010, 07:01 AM   #4 (permalink)
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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.



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Old 05-09-2010, 07:33 AM   #5 (permalink)
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technically they just borrowed it from the federal reserve
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we need to make the wheels out of pizza.
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Old 05-10-2010, 08:57 AM   #6 (permalink)
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technically they just borrowed it from the federal reserve
technically the fed has no money to lend, they create at will.
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