Comments on: Financial Re-Regulation: Grades are in, and Obama’s Plan Gets a D+

By: eggroll

eggroll — Fri, 19 Jun 2009 07:20:18 +0000

Cynthia, excellent post! We have understood how economic bubbles and bank runs work for well over 2000 years. Moreover, banking supervision was already fairly well developed in the time of George Bailey, and anti-fraud provisions were built into securities regulation in 1934. Modern prosecutors hate fraud cases because there must be a showing that the intent to defraud existed at the moment the ~~sucker~~ victim relied on the misrepresentation. In the case of financial fraud, the sleight of hand is often revealed only years down the road (say, the classic developer-bank insider “strip mall” fraud). Imagine trying to put together a case about a fraud involving a bank and a securities bundler that took place in 2002. Ain’t happenin’. Aside from the few high profile cases, nobody is going to jail. Fraud is a crime that takes place at the front end, and all regulation can do is strive for its timely exposure.

By: MarkH

MarkH — Fri, 19 Jun 2009 02:19:11 +0000

Yeah, it ought to be interesting to hear his views. He and Sen. Dodd will have a say.

By: BooRadley

BooRadley — Thu, 18 Jun 2009 22:03:18 +0000

Didn’t intend that as a stand-alone solution. I just thought it might make financial services easier to regulate.

By: BooRadley

BooRadley — Thu, 18 Jun 2009 21:44:33 +0000

Thanks Cynthia, excellent post, as per usual.

Has anyone considered segregating accounts insured by the FDIC in institutions that are NOT publicly traded?

By: Funnydiva2002

Funnydiva2002 — Thu, 18 Jun 2009 21:43:54 +0000

PS:
Hey Gwen Ifill, thanks for NOT mentioning that Paul Krugman has a f*cking Nobel Prize for Economics. Prick-ette…
FWDiva

By: Funnydiva2002

Funnydiva2002 — Thu, 18 Jun 2009 21:42:25 +0000

So…what’s so hard about re-enacting Glass-Steagal and completely repealing Gramm Blakely?
Honest to Pete, it’s not Rocket Science!

FunnyWheelieDiva

By: Cynthia Kouril

Cynthia Kouril — Thu, 18 Jun 2009 21:41:42 +0000

DING Ding ding

Get this man (woman?) a gold star!

By: Cynthia Kouril

Cynthia Kouril — Thu, 18 Jun 2009 21:40:56 +0000

incomplete? Whoops then it’s off to summer school and no frisbee on the beach this summer.

Sorry, I have teenagers at home taking Regents and AP exams, so that’s all the talk at my house right now

By: Cynthia Kouril

Cynthia Kouril — Thu, 18 Jun 2009 21:38:59 +0000

As for being consumer friendly, it is the Consumer Agency that seems to be the one bright spot in the plan and kept the Obama financial teams from having to repeat in summer school

By: Cynthia Kouril

Cynthia Kouril — Thu, 18 Jun 2009 21:34:59 +0000

Actually, although she did run through the talking points she was set to deliver (banking industry already over regulated blah, blah,blah), otherwise she was actually pretty good. She had some sensible suggestions