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04-16-2010, 12:38 PM
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#161
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by Danmar
Maybe. But our banks are pretty big and sophisticated. The largest has a market cap of $85 billion (you pick the currency they are now equal), employs almost 100,000 people worldwide and about 20million customers worldwide. What kind of "volume' were you thinking about?
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It's easier to run $1.3 trillion of GDP through the banking system than over $14 trillion dollars, can we agree on that?
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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04-16-2010, 12:49 PM
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#162
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Obama to Veto Financial Regulation Without Derivative Rules
Quote:
“I will veto legislation that does not bring the derivatives market under control in some sort of regulatory framework that assures that we don’t have the same kind of crisis that we’ve seen in the past,” he said.
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I like it. Hopefully this will stiffen the spines of wishy-washy Congress critters.
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Retired early, traveling perpetually.
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04-16-2010, 02:36 PM
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#163
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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I think we agree that your total banking system is bigger. However with 8-9000 banks (albeit declining in number) many of your banks are small and unsophisticated. In fact my experience has been that even the biggest banks are no more complex or sophistcated than the top Canadian Banks. No US Bank has a significant retail presence in Canada, while 3 Canadian Banks have such a presence in the US (BMO/Harris: RBC : TD Bank). I think US banks could learn a thing or two, thats all.
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04-16-2010, 03:10 PM
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#164
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Quote:
Originally Posted by Danmar
I think US banks could learn a thing or two, thats all.
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Oooh, oooh, oooh . . . can one of the first things they learn be how to avoid destroying the world economy?
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Retired early, traveling perpetually.
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04-19-2010, 09:19 AM
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#166
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gone traveling
Join Date: May 2008
Posts: 3,864
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Quote:
Originally Posted by Gone4Good
Hopefully this will stiffen the spines of wishy-washy Congress critters.
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Finally! Something we can agree on. This certainly describes the majority of Congress critters these days.
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04-21-2010, 06:45 PM
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#167
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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A pretty strong derivatives bill passed out of committee today with Chuck Grassley's support. Some news outlets are reporting that several Republicans are ready to break ranks . . . it looks like real reform may actually happen.
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Retired early, traveling perpetually.
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04-23-2010, 12:56 PM
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#168
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Austin
Posts: 1,142
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A blast from the banking reform past, courtesy of Time's archives. Check out the dateline.
I luvs the internets.
BANKS: Deposits Guaranteed - TIME
__________________
Start by admitting
from cradle to tomb
it isn't that long a stay.
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04-25-2010, 12:14 PM
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#169
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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So it looks like recent polls showing that ~60% of people want financial regulatory reform passed has encouraged the party of "No" and "Hell No" back to the negotiating table. I only wish I knew whether they were negotiating to make the bill stronger or weaker. I haven't really seen anyone describe what they want changed other than to "end bailouts". That means the $50B fund will get scrapped, which is no real loss, but there has to be more going on then that. I'd like to know what.
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Retired early, traveling perpetually.
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05-04-2010, 06:29 PM
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#170
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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So a compromise is reached and nothing really changes . . .
Quote:
The Dodd-Shelby agreement would apply to a section of the bill that would give the government authority to liquidate large failing financial firms whose collapse would threaten the economy. The two senators have agreed to replace the proposed pre-funded [with industry paid fees] $50 billion reserve with language that would require regulators to impose fees on the financial industry to recoup costs for unwinding a company after a collapse, Dodd said today.
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It's a good thing we're holding up legislation to make important changes like these.
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Retired early, traveling perpetually.
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05-16-2010, 05:53 AM
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#171
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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breaking up too big to fail = failed
a full audit of the federal reserve = failed
glass steagall back = failed
there is no financial reform.
oh yeah, they lowered merchant fees on debit card transactions, yipee
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05-18-2010, 07:48 PM
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#172
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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__________________
Retired early, traveling perpetually.
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