Abaddon_Ambrosius
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OMG -- Wall Street Journal editor returns from China...
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...after meetings with their finance ministers and regulators.
Near-universal responses to him about the new 800+ page Frank-Dodd finance regulations?
"Those are incredibly heavy-handed and overly burdensome".
CHINA.
A CENTRALLY PLANNED ECONOMY.
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Moe_Nox
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The Nanny State cometh Currency should be bacon cheeseburgers and blow jobs... - Reese Life at the Outpost: http://www.collegehumor.com/video:1771556
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Rosaria
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OMG -- Wall Street Journal editor returns from China...
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Abaddon_Ambrosius posted:
...after meetings with their finance ministers and regulators.
Near-universal responses to him about the new 800+ page Frank-Dodd finance regulations?
"Those are incredibly heavy-handed and overly burdensome".
CHINA.
A CENTRALLY PLANNED ECONOMY.
At this point probably more people in China have read Dodd-Frank than our congress. Dodd says he still hasn't read it.
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smellymotor
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There is good regulation, there is bad regulation and then there is American legislation. These days you guys just seem to be bad at everything
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smellymotor
Young and Free
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PackHunter
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Keep taking advice from the Chinese.
It has worked so well so far.
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"Adapt or Die" http://www.werenotafraid.com/ http://www.iamnotafraid.ca/ "A friend doesn't mean you're kneeling in front of him" - G. Duceppe
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Moe_Nox
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What % of Canada is Asian now? You guys are gonna go from Canuckistan to The People's Republic of Chunucks
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AzureTyger
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Dodd-Frank is a terrific bill and the first significant regulatory reform of the banking sector that has actually made gains for the people instead of the banks since the 1940s.
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PackHunter
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Moe_Nox posted:
What % of Canada is Asian now? You guys are gonna go from Canuckistan to The People's Republic of Chunucks
Nah, we got it covered. Our Conservative overlords flirt with chinese intelligence officers, and we let them hack major corporations until they're out of business.
But hey, the Chinese do complain about our financial regulations...which are seen by many nations in economic trouble as "Stuff we should have had to prevent this crap".
Including the US.
EDIT: I ALMOST FORGOT! WE GOT PANDAS!
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Abaddon_Ambrosius
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AzureTyger posted:
Dodd-Frank is a terrific bill and the first significant regulatory reform of the banking sector that has actually made gains for the people instead of the banks since the 1940s.
We needed Glass-Steagall rules and a few rules about classes of leverage and clear tracking of ownership.
You know... things we used to have, but then "got progressive about" and repealed.
We didn't need 800+ pages of panicked, backlash nanny-state micromanagement.
It's amazing how "progressives" view anything which changes as good, right up until it proves to be a realllllly stupid idea.
The axes are so screwed up, now.
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Ashmaele
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Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do, considering the massive financial sector meltdown we saw in 2008? Nothing at all?
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Taliesihne
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Heh. I love the assumption that this advice is being dispensed with our best interests in mind. I mean, it's not like China benefited from the way things were....
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Moe_Nox
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Bitching about Frank? Srsly?
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Tych2
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Ashmaele posted:
Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do
i would like them to throw both Dodd and Frank in jail. As for the financial aspect, I am unsure.
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Abaddon_Ambrosius
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Ashmaele posted:
Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do, considering the massive financial sector meltdown we saw in 2008? Nothing at all?
I already replied with the basics.
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theredkay1
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this thread funny
the takeaway is....legislation with lots of pages is BAD!....we must listen to China about regulations!
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Rosaria
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Ashmaele posted:
Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do, considering the massive financial sector meltdown we saw in 2008? Nothing at all?
Is this another either/or question? Is it Dodd-Frank or another financial meltdown?
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Rosaria
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Tych2 posted:
Ashmaele posted:
Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do
i would like them to throw both Dodd and Frank in jail. As for the financial aspect, I am unsure.
You're in bad company, Dodd is unsure too.
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imaloon1
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Ashmaele posted:
Serious question for those bitching about Dodd-Frank: What would you have had the gubmint do, considering the massive financial sector meltdown we saw in 2008? Nothing at all?
Let every single one of those crooked motherfuckers fail. It is not now nor has it ever been the governments job to rescue greedy idiots from being greedy idiots.
Also not repealing glass steagall would have been aces.
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Yukishiro1
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theredkay1 posted:
this thread funny
the takeaway is....legislation with lots of pages is BAD!....we must listen to China about regulations!
In China they don't bother to write things out in detail. If you do it gets harder to change the goalposts as you go.
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