Website review: Bush proposes financial regulation ...
kavisho9 discovered this in Economics
•6 reviews since Mar 29, 2008
economics
•msnbc.msn.com/id/23853415
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kavisho9 discovered 3 months ago- BEWARE! TAKE ACTION AGAINST WASHINGTON - The Bush administration is proposing a sweeping overhaul of the way the U.S. financial industry is regulated. Beware! Believe me we do not want this to happen! First of all the Federal Reserve is privately owned. Secondly it has been ripping off our money with exurbanite fees since President Wilson's time. Thirdly, It is part of the master plan to eventually have a unified system of control over Canada, United States, and Mexico. This control would handle trade, introduce the required Amero, and eliminate borders.
- liltinybus rated 3 months ago
- From the page: "Treasury began work on the review in early 2007. It came in response to complaints from the financial services industry that U.S. businesses were losing their edge in global competition because of over-regulation by Washington. The yearlong review produced a plan calling for the greatest changes in financial regulation since many of the current oversight institutions were created in the 1930s. The Federal Reserve would be a big winner, gaining new powers to serve as the protector of stability for the entire financial system. The plan would abolish some institutions such as the Office of Thrift Supervision and the Commodity Futures Trading Commission; their responsibilities would shift to other agencies."
- Serendipity7 rated 3 months ago
- "Fact file: Financial overhaul The main elements of the Bush administration's plan to overhaul financial regulation, as outlined in a 22-page executive summary obtained by The Associated Press. The proposal is set to be released Monday: -- Expand the role of the President's Working Group on Financial Markets to include the entire financial sector and not just financial markets. -- Create a federal commission, the Mortgage Origination Commission, to develop uniform, minimum licensing standards for mortgage market participants. -- Close the Office of Thrift Supervision, which regulates thrift institutions, and move those functions to the Office of the Comptroller of the Currency, which regulates banks. -- Merge the functions of the Commodity Futures Trading Commission into the Securities and Exchange Commission to create one agency to provide unified oversight of the futures and securities industries. -- Establish an Office of National Insurance within the Treasury Department to regulate those in the insurance industry who want to operate under an optional federal charter. -- Work to establish as a long-term goal three major regulators: the Federal Reserve as a "market stability regulator"; a "prudential financial regulator" to take over the functions of five separate banking regulators; and a "business conduct regulator" to regulate business conduct and consumer protection." Source: Associated Press The Bush administration is proposing a sweeping overhaul of the way the U.S. financial industry is regulated. This plan would expand the powers of the Federal Reserve. BEWARE!THIS IS GETTING SCAREY..IF YOU ARE CONCERNED ABOUT YOUR ECONOMY AND THE INCREASING POWERS OF THE FEDERAL GOVERNMENT..THIS IS A MUST READ, Raine.
- gwicks56 rated 3 months ago
- This is too little and too late. Our financial system has gone out of control because of deregulation. This mantra of "deregulation is good" has helped create a population of suckers who cannot (or simply refuse to) see that deregulation has led to creatures like Enron, lending and banking scandals. C'mon, folks: regulation is a natural and necessary feedback and control system that every organism needs, from the cellular level all the way up to socio-economic systems. Be wary of the wizards who want no restraint, especially when it comes to money. Think for a moment: would you give money to a huckster who claims he can make you rich with his brand new money making scheme as long as you keep quiet (and thus keep criminal investigators, i.e., regulation, from looking into this supposed sweet deal)? Well, come to think of it, I guess there are a lot of people who do get taken in this way... So why let an even larger group of potential swindlers get away with it?
- javamanjoe rated 3 months ago
- FEDERAL RESERVE OVERHAUL APPROVED. Thanks 'kavisho9'. WASHINGTON - The Bush administration is proposing a sweeping overhaul of the way the U.S. financial industry is regulated. This plan would expand the powers of the Federal Reserve.
