The Weaver, the Princess and Goldman Sachs
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The Weaver, the Princess and Goldman Sachs
1–10 of 36 posts
Re: The Weaver, the Princess and Goldman Sachs
#2I suspect that the show put on by Congress and Goldman Sachs will end up a wash for the banks and the people. No one will get punished and Congress will say, "See, even the worst of the bunch -- Goldman Sachs -- was within the law, so all the other banks must have been too."
At that point, all cases against the banks will be dropped and we will happily return to the status quo.
Re: The Weaver, the Princess and Goldman Sachs
#3now if only I was smart enough to figure one out like this.
Re: The Weaver, the Princess and Goldman Sachs
#4I would like to know what kind of factory the author works in.
Re: The Weaver, the Princess and Goldman Sachs
#5Excellent story.
The world is full of wisdom in the form of myths and stories. Those who know how to learn from this immense repository of human experience are a step ahead of the rest.
Re: The Weaver, the Princess and Goldman Sachs
#6I suspect that the show put on by Congress and Goldman Sachs will end up a wash for the banks and the people. No one will get punished and Congress will say, "See, even the worst of the bunch -- Goldman Sachs -- was within the law, so all the other banks must have been too." At that point, all cases against the banks will be dropped and we will happily return to the status quo.
A large part of the "show" is to increase public support for financial reform.
Re: The Weaver, the Princess and Goldman Sachs
#7I suspect that the show put on by Congress and Goldman Sachs will end up a wash for the banks and the people. No one will get punished and Congress will say, "See, even the worst of the bunch -- Goldman Sachs -- was within the law, so all the other banks must have been too." At that point, all cases against the banks will be dropped and we will happily return to the status quo.
A large part of the "show" is to increase public support for financial reform.
Financial 'reform' is the status quo:
> So Congress is in a lather working on a new set of regulations that will prevent problems like this from ever happening again. Really? Ask yourself these questions.
> Did the government sanctioned ratings agencies prevent the meltdown?
> Did the voluminous disclosure laws already on the books prevent the meltdown?
> Did vigilant SEC inspectors prevent the meltdown?
> Did a well financed FDIC prevent the meltdown?
> Did Sarbanes Oxley laws prevent the meltdown?
http://www.realclearmarkets.com/articles/2010/04/28/did_you_... (GR BTW)
No matter how hard we try, we simply can't regulate greed (esp. not when the regulators are paid by the banks!). Plus, no one in Congress even understands finance!
Re: The Weaver, the Princess and Goldman Sachs
#8I suspect that the show put on by Congress and Goldman Sachs will end up a wash for the banks and the people. No one will get punished and Congress will say, "See, even the worst of the bunch -- Goldman Sachs -- was within the law, so all the other banks must have been too." At that point, all cases against the banks will be dropped and we will happily return to the status quo.
A large part of the "show" is to increase public support for financial reform.
It looks a lot more like a distraction from how flimsy the reform is.
Re: The Weaver, the Princess and Goldman Sachs
#9Earlier quoted context omitted.
A large part of the "show" is to increase public support for financial reform.
Financial 'reform' is the status quo: > So Congress is in a lather working on a new set of regulations that will prevent problems like this from ever happening again. Really? Ask yourself these questions. > Did the government sanctioned ratings agencies prevent the meltdown? > Did the voluminous disclosure laws already on the books prevent the meltdown? > Did vigilant SEC inspectors prevent the meltdown? > Did a well…
The bank bailouts could have come with regulatory measures attached. Was this an intentionally overlooked opportunity?
Re: The Weaver, the Princess and Goldman Sachs
#10Excellent story. The world is full of wisdom in the form of myths and stories. Those who know how to learn from this immense repository of human experience are a step ahead of the rest.
True.
You could do worse than start with aesop:
aesopfables.com