Snoslinger Posted May 30, 2018 Share Posted May 30, 2018 By Renae Merle May 30 at 3:38 PM Big U.S. banks snagged another big victory Wednesday as federal regulators voted to ease one of the industry’s most despised regulations. The Federal Reserve approved sweeping changes to the “Volcker Rule,” which was established after the global financial crisis to prevent taxpayer-insured banks from making some risky financial bets. Banks, which have complained for years that the rule is too cumbersome and time-consuming, will gain new flexibility in deciding when a trade is too risky if the proposal is finalized. “Our goal is to replace overly complex and inefficient requirements with a more streamlined set of requirements,” said Fed Chairman Jerome H. Powell. Consumer advocates worry that even a slight easing of the standards could open the door for the type of risky trading that contributed to the near collapse of the economy a decade ago. Read more: https://www.washingtonpost.com/news/business/wp/2018/05/30/wall-street-is-about-to-snag-one-of-its-biggest-victories-of-the-trump-era/ Quote Link to comment Share on other sites More sharing options...
Anler Posted May 30, 2018 Share Posted May 30, 2018 1 minute ago, Snoslinger said: By Renae Merle May 30 at 3:38 PM Big U.S. banks snagged another big victory Wednesday as federal regulators voted to ease one of the industry’s most despised regulations. The Federal Reserve approved sweeping changes to the “Volcker Rule,” which was established after the global financial crisis to prevent taxpayer-insured banks from making some risky financial bets. Banks, which have complained for years that the rule is too cumbersome and time-consuming, will gain new flexibility in deciding when a trade is too risky if the proposal is finalized. “Our goal is to replace overly complex and inefficient requirements with a more streamlined set of requirements,” said Fed Chairman Jerome H. Powell. Consumer advocates worry that even a slight easing of the standards could open the door for the type of risky trading that contributed to the near collapse of the economy a decade ago. Read more: https://www.washingtonpost.com/news/business/wp/2018/05/30/wall-street-is-about-to-snag-one-of-its-biggest-victories-of-the-trump-era/ The Federal Reserve isnt a branch of govt, they are a private bank. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 30, 2018 Author Share Posted May 30, 2018 1 minute ago, Nazipigdog said: The Federal Reserve isnt a branch of govt, they are a private bank. it didn't happen under Obama did it? Quote Link to comment Share on other sites More sharing options...
Pete Posted May 30, 2018 Share Posted May 30, 2018 1 minute ago, Snoslinger said: it didn't happen under Obama did it? Nothing happened under obama. Hence... why you fucks lost. Hahaha Quote Link to comment Share on other sites More sharing options...
Anler Posted May 30, 2018 Share Posted May 30, 2018 (edited) 3 minutes ago, Snoslinger said: it didn't happen under Obama did it? The federal reserve doesnt answer to the president. Or congress. Or the taxpayer Edited May 30, 2018 by Nazipigdog Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 30, 2018 Author Share Posted May 30, 2018 Just now, ATOMIC PUNK said: Nothing happened under obama. Hence... why you fucks lost. Hahaha a lot did. the biggest thing was an economic uptick wave that trump was able to ride when he came in. much like other repukes when they came into office. then they fuck it all up before leaving and leave the dems to clean it up. rinse, wash, repeat.. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted May 30, 2018 Platinum Contributing Member Share Posted May 30, 2018 4 minutes ago, Nazipigdog said: The federal reserve doesnt answer to the president. Or congress. Or the taxpayer Slinger will ignore this. Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 30, 2018 Author Share Posted May 30, 2018 4 minutes ago, Nazipigdog said: The federal reserve doesnt answer to the president. Or congress. Or the taxpayer the truth of the matter is that trumpy is creating a relaxed environment on wall street and the banking industries, and they're taking advantage of it. not too long ago this was one on your, and many others, concerns with Hillary. remember? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted May 30, 2018 Author Share Posted May 30, 2018 1 minute ago, Jimmy Snacks said: Slinger will ignore this. nope. I called it what it is. Quote Link to comment Share on other sites More sharing options...
Anler Posted May 30, 2018 Share Posted May 30, 2018 9 minutes ago, Snoslinger said: the truth of the matter is that trumpy is creating a relaxed environment on wall street and the banking industries, and they're taking advantage of it. not too long ago this was one on your, and many others, concerns with Hillary. remember? Sure, I dont trust any of those fuckers. But the Federal Reserve isnt a political party, they are their own entity. They do whatever they want. Id say they probably tell the president what to do, whoever that is. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted May 30, 2018 Platinum Contributing Member Share Posted May 30, 2018 (edited) I would estimate the complexity of these regulations are far too complicated to just say canceling this or that will put us into the verge of another financial collapse. I'd like to see details before agreeing with any fear mongering coming from the WaPo. Edited May 30, 2018 by Highmark Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 30, 2018 Share Posted May 30, 2018 Bring back Glass Steagal......anything less is just setting us up for more multitrillion dollar bailouts Quote Link to comment Share on other sites More sharing options...
motonoggin Posted May 31, 2018 Share Posted May 31, 2018 Quote Link to comment Share on other sites More sharing options...
Guest Posted May 31, 2018 Share Posted May 31, 2018 Is politics this bad in CANADA? It can't possibly be. America basically sucks socially/ politically. The only ones trying to get in here are from Africa, The Middle East, and some Latin Americans. All from SHITHOLES, that have no money, and you can get shot in a heartbeat. The human scum of the world are invading us. Quote Link to comment Share on other sites More sharing options...
Rod Posted May 31, 2018 Share Posted May 31, 2018 The last election taught us that the DNC is more corrupt than the RNC Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 31, 2018 Share Posted May 31, 2018 4 hours ago, f7ben said: Bring back Glass Steagal......anything less is just setting us up for more multitrillion dollar bailouts Doing away with GS was a fine idea provided the SEC had adequatly trained, well compensated, and stern regulators.....and enough of them too. Lehman Brothers had two rookie regulators over looking ALL the books. That was it. What a fucking joke. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 31, 2018 Share Posted May 31, 2018 5 minutes ago, Rod Johnson said: The last election taught us that the DNC is more corrupt than the RNC That’s not even really the scary part. Both are corrupt but the Dems didn’t even seem to care at all if the nation knew it. They were gonna take it by hook or crook and didn’t give a fuck what the citizens had to say about it. Even now...they just don’t give a shit. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted May 31, 2018 Share Posted May 31, 2018 6 hours ago, Snoslinger said: it didn't happen under Obama did it? it happens because of whose policy ? who warned it would happen ? Quote Link to comment Share on other sites More sharing options...
f7ben Posted May 31, 2018 Share Posted May 31, 2018 14 minutes ago, spin_dry said: Doing away with GS was a fine idea provided the SEC had adequatly trained, well compensated, and stern regulators.....and enough of them too. Lehman Brothers had two rookie regulators over looking ALL the books. That was it. What a fucking joke. It's just a terrible idea not keeping deposit and investment portions of banks separated. Terrible Quote Link to comment Share on other sites More sharing options...
racer254 Posted May 31, 2018 Share Posted May 31, 2018 8 hours ago, Zambroski said: That’s not even really the scary part. Both are corrupt but the Dems didn’t even seem to care at all if the nation knew it. They were gonna take it by hook or crook and didn’t give a fuck what the citizens had to say about it. Even now...they just don’t give a shit. And apparently there is not a whole lot of people on either side very concerned with it. I even expected many democrats to really flush their party after that happened, but NOTHING. They made a few changes and then it was business as usual. THEY DON'T SEEM TO CARE. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 31, 2018 Share Posted May 31, 2018 3 minutes ago, racer254 said: And apparently there is not a whole lot of people on either side very concerned with it. I even expected many democrats to really flush their party after that happened, but NOTHING. They made a few changes and then it was business as usual. THEY DON'T SEEM TO CARE. They aren't doing ANYTHING about it. Imagine....just imagine if after the election, they came out and said something to the effect of, "We lost, we got it wrong, we are going to change and get back to our values for the American people." Or anything of that nature. ANYTHING SIMILAR. But NOPE! Repugnance, denial and shameless disgrace on display. Shown here everyday also. "Deplorable racists, misogynists, brainless women and Russia is why we lost!!!!!!" Laughable. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 31, 2018 Share Posted May 31, 2018 The fed chairman is picked by the republicans president and confirmed by the Republican senate....you dumb fucks Jerome Hayden "Jay" Powell is the 16th and current Chairman of the Federal Reserve, serving in that office since February 2018. He was nominated to the Fed Chair position by President Donald Trump, and confirmed by the United States Senate Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 31, 2018 Share Posted May 31, 2018 2 minutes ago, Mainecat said: The fed chairman is picked by the republicans president and confirmed by the Republican senate....you dumb fucks Jerome Hayden "Jay" Powell is the 16th and current Chairman of the Federal Reserve, serving in that office since February 2018. He was nominated to the Fed Chair position by President Donald Trump, and confirmed by the United States Senate Doesn't understand how the Fed works....but screeches to others how the Fed works to blame Trump. MC...ensuring we stay in the current two-party system forever with partisan bullshit. Seriously, you should kill yourself. Get neighbors to help....I'm sure they'd be glad to help you out. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted May 31, 2018 Share Posted May 31, 2018 I see assfuck is following me again. Telling all how much smarter he is than they are. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted May 31, 2018 Share Posted May 31, 2018 30 minutes ago, Mainecat said: I see assfuck is following me again. Telling all how much smarter he is than they are. Nawww...just you. EVEYONE HERE with only one exception is smarter than you, Thank "Plaid" for that. Quote Link to comment Share on other sites More sharing options...
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