Comments on: The financial overhaul bill: brought to you by Dodd and Frank https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/ A blog about political change, among other things Sun, 27 Jun 2010 00:00:51 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Steve G https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167859 Sun, 27 Jun 2010 00:00:51 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167859 Mark to market is like a vampire that just won’t die. A minor downturn in the valuation of any financial asset will create an immediate liquidity crisis, just it did in 2008. Some people never learn. This is one of those laws that will result in real consumer anger once the consumer czar decides that most forms of consumer credit are predatory. And, forget free checking.

]]> By: J.J. formerly Jimmy J. https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167706 Sat, 26 Jun 2010 03:10:28 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167706 2000 pages!! Why are these pieces of legislation so monstrously long? My guess is so only lawyers will know what’s in the bills. And why do they not do anything that needs doing? I just saw the former head of the FDIC, Bill Isaacs, interviewed by Larry Kudlow. He said the worst thing in this bill is the return to mark to market accounting. If true, the market is headed down again. He said the second worst thing was that nothing was done about Fannie and Freddie. Are we headed for a taxpayer bailout of the mortgage companies?

These humungous things keep coming out of Congress as if they were actually providing some kind of regulation of risk. Hah, the lawyers are already art work to discover the loopholes and work arounds.

The best we can hope for is some stability until some real reform can be enacted, post Obama.

]]> By: Thalpy https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167677 Fri, 25 Jun 2010 22:38:13 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167677 Let’s just cut to the chase: “It’s a great moment. I’m proud to have been here…No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time.”

If they’d done something that has been needed for a long time, they would have expired.

]]> By: gs https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167651 Fri, 25 Jun 2010 21:37:03 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167651 Assistant Village Idiot Says:

I love Judd Gregg, and the country will greatly miss him.

Warren Rudman also comes to mind. When I look at the “first-tier” candidates and then I see people like Rudman and Gregg being ignored, I shake my head.

I made a small donation to John Sununu’s unsuccessful 2008 reelection campaign. After he lost, he took the trouble to send a card thanking me for the contribution. No allusion to possible future campaigns, just a simple thank-you.

I’m skeptical about politicians even if I support them, but that gesture made an impression.

]]> By: neo-neocon https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167642 Fri, 25 Jun 2010 21:05:39 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167642 AVI: well, a while back I tried this.

]]> By: Assistant Village Idiot https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167639 Fri, 25 Jun 2010 20:45:16 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167639 I love Judd Gregg, and the country will greatly miss him.

]]> By: Curtis https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167633 Fri, 25 Jun 2010 20:39:32 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167633 People take note that the troll “gs” is here.

Note the use of a modified “Hegelian dialectical technique,” which ultimate purpose is to confuse.

A main premise is stated, then another one is introduced, but it is in opposition to the first. The mind strives to reconcile the two because that is what minds do.

gs, here, does a good job of seeming very reasonable. He does a good job of burying the antithesis. But it’s there and it doesn’t hide from the mind’s logic.

The intent is to appear as your friend, gain your trust, but then sow seeds of doubt and confusion.

]]> By: SteveH https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167624 Fri, 25 Jun 2010 19:59:55 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167624 I wouldn’t support a law meant to save puppies if it were written by democrats. Four years of them being in power informs me that it must kill fish, birds and kittens somewhere in the legislation.

]]> By: gs https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167618 Fri, 25 Jun 2010 19:06:50 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167618 I am not one who believes in completely unfettered laissez-faire capitalism, but I must say that I am extremely distrustful of the federal government’s (much less any bill designed by Chris Dodd and Barney Frank) ability to regulate financial institutions in a way that will not make matters worse. The fact that this bill ignores Fannie/Freddie does nothing to allay my fears.

I’d sign that statement.
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The bill creates work for lawyers and lobbyists and expands the bureaucracy, but it doesn’t seem as obviously disastrous as I’d feared. (For example, at one point Congress was talking about a four-month government review period before a proposed start-up could open for business.)

Not as obviously disastrous. I wonder what clauses are buried in there, intentionally and not.

]]> By: Curtis https://thenewneo.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167601 Fri, 25 Jun 2010 17:58:57 +0000 http://neoneocon.com/2010/06/25/the-financial-overhaul-bill-brought-to-you-by-dodd-and-frank/#comment-167601 Funny how statists believe in a self organizing principle in biology but not in economics.

How to solve the problem of preventing ignorant people from getting ripped off: Let them get ripped off.

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