On Apr 2, 7:14*pm, "John R. Carroll"
wrote:
F. George McDuffee wrote:
On Wed, 2 Apr 2008 15:56:30 -0400, "Ed Huntress"
wrote:

I think the answer you would get from most close observers is that
the globalized finance industry doesn't give brownie points for
well-regulated participants. You're either in the game,
internationally, or you're not. You either lead the way, or you
follow. The US, including many liberal members of Congress back in
the '80s and '90s, decided that they would give the US industry a
chance to play at the top tier, and hopefully to dominate, at a time
when London, Paris, and (in the '80s) Tokyo were threatening to take
that position.

That they largely did.

--
Ed Huntress
===============
This may indeed be the case, but it fails to address the WIIFM
[what's in it for me] question from the citizen's/taxpayer's
point of view. *Why should I as a taxpayer give a rap if CSFB,
Merril Lynch, Bear Stearns, BlackRock, Carlyle, etc. makes a
dime, or gets to play with the big boys?

This segues into yet more questions/observations:

You can review *SecTreas Paulson's executive summary and proposed
changes to the Federal oversight of the financial sector here
http://media.npr.org/documents/2008/..._factsheet.pdf
http://media.npr.org/documents/2008/..._blueprint.pdf

While I have not yet completely read his entire proposal,

"His" entire proposal has as much chance of being effective as your cat and
dog do of having offspring.
This cluster **** looks a lot like the Department of Homeland Security, an
ineffective and costly combination of Boondogle and Fiasco that has been so
incompetently staffed that instead of a joke, it's a nightmare and a costly
one at that.

Given the purpose of the Federal Reserve, why would you want to remove their
day to day oversight of financial institutions and put this in the hands of
a political operative?

Nothing, not one single thing, in the proposed reforms adresses any of the
underlying problems and in fact, exacerbates them.

Sheesh.

--

* * * * * *John R. Carroll
*www.machiningsolution.com- Hide quoted text -

- Show quoted text -

I agree with your comments John.

TMT