tag:blogger.com,1999:blog-53246864840716464.post3957262330640632675..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: 11 Page Summary of Senator Dodd's 1,136 Page Proposed Financial Reform BillUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-53246864840716464.post-56950832323364353452010-03-31T09:20:11.918-07:002010-03-31T09:20:11.918-07:00I have a real problem with making the Fed, the con...I have a real problem with making the Fed, the controller of credit cards. Aren't there already protections in place for consumers who take on credit in the form of signatures, etc. <br /><br />It seems that all these things (credit bubbles) happen with the existing protections, and washington requires more paperwork and regulations. This only will have the effect of restricting credit. <br /><br />The same way that Sox was supposed to permanently make fraud more difficult, it also makes companies flee to escape red tape. The same will happen with this.Taylor Cottamhttp://www.economypolitics.comnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-16985609398103994712009-11-11T06:05:24.125-08:002009-11-11T06:05:24.125-08:00The fact that the bill is 1136 pages is yet anothe...The fact that the bill is 1136 pages is yet another fraud in itself. The entire tax code of Hong Kong is 200 pages, how can this bill be 5 times the size? <br />Does anyone think Congress will be reading this, they haven't even finished reading the stimulus bill yet.Vnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-1798702949502705472009-11-10T14:20:39.897-08:002009-11-10T14:20:39.897-08:00Thanks. Looks like they are keeping the 'NRSR...Thanks. Looks like they are keeping the 'NRSRO' concept, one thing worth scrutinizing. Among others.Bill Bergmanhttps://www.blogger.com/profile/17066440544129368326noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-65388826243773228312009-11-10T12:51:45.043-08:002009-11-10T12:51:45.043-08:00I do not propose to have any worthy compliment to ...I do not propose to have any worthy compliment to this apparently serial, top-down, from on high, methodology meant to excuse and apologize for systemic historic errors, while allowing them to continue unabated, unimpeded -as in the same old -business as usual- credit economy growth at any social cost.<br /><br />But, so everyone recognizes the hideous beast, this IS the top-down approach you see in this article.<br /><br />It's a heinous fraud too.<br /><br />The top-down approach is given to us very well by Dewey and Tufts in "Ethics" (1908, 1932 Henry Holt and Company, Inc.)<br /><br />"[...] It was an ideal not dreamed out in ecstatic visions of pure fancy, but worked out in struggle and suffering, in confidence that moral efforts are not hopeless or destined to defeat. The ideal order is to be made real. The divine kingdom is to come, the divine will to be done '-on earth- as it is in heaven.'"<br /><br />If, like me you have lost most of your faith in the top-down approach, I would suggest you take the bottom-up approach.<br /><br />Stop borrowing. Credit is cancer.<br /><br />The credit economy is what ails us, -not- want of, or, the absense of -efforts to amend the credit economy -so it would lend itself better to the image of some forsaken, empirical, economic GOD.<br /><br />Come January, -I expect to see widespread calls to throw all the economists in the deep end of the Potomac River as the ice-laden tide is heading out fast.<br /><br />Things is gettin' really ugly, -and people is pissed.Anonymousnoreply@blogger.com