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Old 04-08-2014, 09:23 AM   #26
Rohirrim
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Ultimately, the committee inserted every word of Mr. Bopp’s (Citigroup) suggestion into a 2012 version of the bill that passed the House, save for a slight change in phrasing. A later iteration of the bill, passed by the House committee earlier this month, also included some of the same wording.

And when federal regulators in April released a rule governing such trades, it was significantly less demanding than the industry had feared, a decision that the industry partly attributed to pressure stemming from Capitol Hill.

Citigroup and other major banks used a similar approach on another derivatives bill. Under Dodd-Frank, banks must push some derivatives trading into separate units that are not backed by the government’s insurance fund. The goal was to isolate this risky trading.

The provision exempted many derivatives from the requirement, but some Republicans proposed striking the so-called push out provision altogether. After objections were raised about the Republican plan, Citigroup lobbyists sent around the bank’s own compromise proposal that simply exempted a wider array of derivatives. That recommendation, put forth in late 2011, was largely part of the bill approved by the House committee on May 7 and is now pending before both the Senate and the House.

Citigroup executives said the change they advocated was good for the financial system, not just the bank.

“This view is shared not just by the industry but from leaders such as Federal Reserve Chairman Ben Bernanke,” said Molly Millerwise Meiners, a Citigroup spokeswoman.

Industry executives said that the changes — which were drafted in consultation with other major industry banks — will make the financial system more secure, as the derivatives trading that takes place inside the bank is subject to much greater scrutiny.

Representative Maxine Waters, the ranking Democrat on the Financial Services Committee, was among the few Democrats opposing the change, echoing the concerns of consumer groups.

“The bill restores the public subsidy to exotic Wall Street activities,” said Marcus Stanley, the policy director of Americans for Financial Reform, a nonprofit group.

But most of the Democrats on the committee, along with 31 Republicans, came to the industry’s defense, including the seven freshmen Democrats — most of whom have started to receive donations this year from political action committees of Goldman Sachs, Wells Fargo and other financial institutions, records show.

Six days after the vote, several freshmen Democrats were in New York to meet with bank executives, a tour organized by Representative Joe Crowley, who helps lead the House Democrats’ fund-raising committee. The trip was planned before the votes, and was not a fund-raiser, but it gave the lawmakers a chance to meet with Wall Street’s elite.

In addition to a tour of Goldman’s Lower Manhattan headquarters, and a meeting with Lloyd C. Blankfein, the bank’s chief executive, the lawmakers went to JPMorgan’s Park Avenue office. There, they chatted with Jamie Dimon, the bank’s chief, about Dodd-Frank and immigration reform.

http://dealbook.nytimes.com/2013/05/...ted=print&_r=0

What this article says is that Citigroup, Goldman Sachs, and others, wrote the bill that regulates their industry (while effectively taking all the power out of Dodd-Frank), handed it over to Congress, and they passed it. And quick too. None of that bipartisan squabbling when the Big Boys want something done. What a deal, eh?

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Old 04-08-2014, 10:06 AM   #27
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Not much different than believing in unicorns. Really, think about it; Why would anybody have to use secret organizations when they can manipulate the process right out in the open and buy whatever influence they require with the blessings of the SCOTUS? The secret organizations do not exist because there is no reason for them to exist.
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Old 04-08-2014, 10:12 AM   #28
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So you didn't read it.
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Old 04-08-2014, 10:58 AM   #29
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So you didn't read it.
Right up until here:

Since Biblical times, the esoteric knowledge, outlined briefly in this book, has been largely withheld from the majority of people throughout the world. Initially, this information was the remnant of Atlantean knowledge but was gradually dispersed and further diluted by cataclysmic events such as the Great Flood. Throughout the ages, lost information has been returned to the collective consciousness of mankind via prophets and channellers. Great Mystery Schools, such as the Essene order, set themselves apart in order to carry forward this knowledge via carefully selected initiates.

There is no secret knowledge. There is no separate peace. There are no gurus or prophets. Frankly, the belief in such things does more to turn people into sheep than hours and hours of propaganda could accomplish.
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Old 04-08-2014, 11:21 AM   #30
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Right up until here:

Since Biblical times, the esoteric knowledge, outlined briefly in this book, has been largely withheld from the majority of people throughout the world. Initially, this information was the remnant of Atlantean knowledge but was gradually dispersed and further diluted by cataclysmic events such as the Great Flood. Throughout the ages, lost information has been returned to the collective consciousness of mankind via prophets and channellers. Great Mystery Schools, such as the Essene order, set themselves apart in order to carry forward this knowledge via carefully selected initiates.

There is no secret knowledge. There is no separate peace. There are no gurus or prophets. Frankly, the belief in such things does more to turn people into sheep than hours and hours of propaganda could accomplish.
You should change your user name it does not fit your beliefs.
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Old 04-08-2014, 11:34 AM   #31
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You should change your user name it does not fit your beliefs.
Why? I love fantasy epics, especially the king of them all, LOTR. That doesn't mean I believe I'm living in one. I think such tales are metaphors. We use them to clarify for ourselves what we wish we were. We write down our dreams of what we aspire to: Nobility, courage, community...

I once heard a historian say that the Declaration of Independence is not a historical statement of who Americans are. It's the statement of what we wish to become; It's a declaration of our ideals. Unfortunately, we could not overcome avarice and the desire for power, and like every empire that came before, we have failed. The good thing about humans is that they will continue to dream and aspire and who knows, maybe some new land will rise from our ashes and fulfill our ideals? That's if we don't wipe ourselves off the planet first.

"And nine, nine rings were gifted to the Race of Men, who above all else desire power."
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Old 04-08-2014, 12:04 PM   #32
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The 'One' ring was above all others and it was pure evil.
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Old 04-08-2014, 01:06 PM   #33
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Infographic: How Money Won Congress

http://daily.represent.us/infographi...wins-congress/

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Out of 467 races, fundraising success almost always leads to victory. In fact, winners outspent their opponents by about 20 to 1.

Perhaps this is why members of Congress continue to win re-election despite Congress’ dismal 10% approval rating. Incumbents have a huge advantage in fundraising, and on average raise more than double what their challengers do. That translates into a 90% re-election rate.
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Old 04-08-2014, 01:07 PM   #34
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The media, for the most part, still treats elected officials as the key players in our political process. They get most of the scrutiny. Mega-donors, by contrast, are permitted a substantial degree of anonymity. Now that must change. If Adelson or the Koch brothers or their liberal equivalents can single-handedly shape presidential campaigns and congressional majorities, their pet concerns and ideological quirks deserve more journalistic attention than do those of most members of congress. It’s no longer enough to have one reporter covering the “money and politics” beat. Special correspondents should be assigned to cover key mega-donors, and should work doggedly to make their private influence public.
http://www.theatlantic.com/politics/...icians/360192/
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Old 04-08-2014, 01:17 PM   #35
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Here's one about how the SEC never goes after the top dogs. This guy would only speak because he is retiring:

A trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and fearful” to bring many Wall Street leaders to heel after the 2008 credit crisis, echoing the regulator’s outside critics.

James Kidney, who joined the SEC in 1986 and retired this month, offered the critique in a speech at his goodbye party. His remarks hit home with many in the crowd of SEC lawyers and alumni thanks to a part of his resume not publicly known: He had campaigned internally to bring charges against more executives in the agency’s 2010 case against Goldman Sachs Group Inc. (GS)

The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,” Kidney said, according to a copy of his remarks obtained by Bloomberg News. “On the rare occasions when enforcement does go to the penthouse, good manners are paramount. Tough enforcement, risky enforcement, is subject to extensive negotiation and weakening.”

Kidney said his superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties, Kidney said, have become “at most a tollbooth on the bankster turnpike.”

http://www.bloomberg.com/news/2014-0...-misdeeds.html
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Old 04-08-2014, 01:18 PM   #36
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The 'One' ring was above all others and it was pure evil.
It was all the failures of man wrapped up in one.
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Old 04-08-2014, 01:49 PM   #37
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It was all the failures of man wrapped up in one.

But through aversely species united as one force supporting the least likely individual to successfully destroy the oppressive mind weakening (and in some cases mind controlling) evil force allowing the members of Middle Earth wake up from their collective (fear induced) dream state to live in peace and love with mutual respect for one another for a millennium so it is told.


Just as we need to do today.

We are the ones we have been waiting for!

This is a quote at the end of the piece you felt was unworthy to read;

Good always prevails through positive application, whereas the bad guys are hindered and slowed in their criminal endeavours through having to cover-up their negative actions with lies to support lies. This inevitably allows the truth to emerge.
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Old 04-08-2014, 02:06 PM   #38
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Originally Posted by Rohirrim View Post
Here's one about how the SEC never goes after the top dogs. This guy would only speak because he is retiring:

A trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and fearful” to bring many Wall Street leaders to heel after the 2008 credit crisis, echoing the regulator’s outside critics.

James Kidney, who joined the SEC in 1986 and retired this month, offered the critique in a speech at his goodbye party. His remarks hit home with many in the crowd of SEC lawyers and alumni thanks to a part of his resume not publicly known: He had campaigned internally to bring charges against more executives in the agency’s 2010 case against Goldman Sachs Group Inc. (GS)

The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,” Kidney said, according to a copy of his remarks obtained by Bloomberg News. “On the rare occasions when enforcement does go to the penthouse, good manners are paramount. Tough enforcement, risky enforcement, is subject to extensive negotiation and weakening.”

Kidney said his superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties, Kidney said, have become “at most a tollbooth on the bankster turnpike.”

http://www.bloomberg.com/news/2014-0...-misdeeds.html
That doesn't surprise me. Easy way to prevent that is to ban civil servants and political appointee from taking job in the financial community for 10 year post employment. It happens all the time for folks in DoD.
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Old 04-08-2014, 02:11 PM   #39
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What seems to be escaping so many is;

The people that are in a position to fix it do not want to fix it. To them it isn't broken. To them it works perfectly
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Old 04-10-2014, 12:36 PM   #40
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A forthcoming article in Perspectives on Politics by (my former colleague) Martin Gilens and (my sometime collaborator) Benjamin Page marks a notable step in that process. Drawing on the same extensive evidence employed by Gilens in his landmark book “Affluence and Influence,” Gilens and Page analyze 1,779 policy outcomes over a period of more than 20 years. They conclude that “economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while mass-based interest groups and average citizens have little or no independent influence.”

Average citizens have “little or no independent influence” on the policy-making process? This must be an overstatement of Gilens’s and Page’s findings, no?

Alas, no. In their primary statistical analysis, the collective preferences of ordinary citizens had only a negligible estimated effect on policy outcomes, while the collective preferences of “economic elites” (roughly proxied by citizens at the 90th percentile of the income distribution) were 15 times as important. “Mass-based interest groups” mattered, too, but only about half as much as business interest groups — and the preferences of those public interest groups were only weakly correlated (.12) with the preferences of the public as measured in opinion surveys.
http://www.washingtonpost.com/blogs/...h-people-rule/
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Old 04-10-2014, 01:38 PM   #41
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Which is why I've quit voting. Not worth the time and effort.
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