Judge signs order to protect Madoff investors.

[RLflutie7]

Who said "lack of regulation" on Wall Street? Point me to it.

 

I'll certainly said lack of intelligent regulation (oevrburdensome in certain areas, woefully lacking in others), but certainly not lack of overall regulation.

 

 

No one said it here. They're saying it on TV.

 

They're blaming the gov't for the crisis which is a complete joke.

 

They say it all the time on CNBC. "Lack of modern regulation".

 

Give me a break. Even Obama is saying it.

[Alaska Darin]

Wall Street people are saying it was the lack of regulation. Before they were saying they don't need regulation.

 

That is how absurd that remark is.

Who cares if they pass more regulation? The government can't enforce much of what it has passed because it concentrates far to heavily on things it shouldn't be responsible for, which is the reason that things IT IS responsible for end up the way they do.

[bills_fan]

No one said it here. They're saying it on TV.

 

They're blaming the gov't for the crisis which is a complete joke.

 

They say it all the time on CNBC. "Lack of modern regulation".

 

Give me a break. Even Obama is saying it.

 

 

Seriously? CNBC? TV?

 

You really want to understand what is happened do some research, think, analyze, consider different sides and theories...then form your own opinion, supported by your own research.

 

You are on a Bills board, so I assume you follow the team. What would your knowledge of the Bills be if all you listened to was the ESPN/national announcers? Maybe watched a couple of games on TV?

 

Now, what if you read all the local writers, listened to experts talk, watched the games yourself (in person), maybe DVR'd the game and broke it down in slow motion, studied the basics of how a football play was contructed and which plays the Bills used...you'd have a pretty good idea why the Bills f*cked up and why they were successful at any given moment right?

 

Watching CNBC gives you the Keyshawn Johnson/Michael Irvin perspective on the market. Want to try to understand what is really going on...do your own research.

[GG]

Watching CNBC gives you the Keyshawn Johnson/Michael Irvin perspective on the market. Want to try to understand what is really going on...do your own research.

 

No, it's more like getting John Clayton's perspective on football. At least the guys you mention play the game.

 

Just because a talking head is on CNBC doesn't mean he knows what he's talking about.

[bills_fan]

No, it's more like getting John Clayton's perspective on football. At least the guys you mention play the game.

 

Just because a talking head is on CNBC doesn't mean he knows what he's talking about.

 

 

Good point.

[GG]

Good point.

 

Never mind that what people are mostly complaining about is the missed enforcement of the existing regulations. As if passing new regulations going to make incompetent people do their job more competently.

[KD in CA]

Your failure to see the big picture is getting a little ridiculous.

 

My failure to see the "big picture"?

 

Oh, like this big picture:

That Wall Street has caused so much pain and regular people are becoming homeless every day because of Wall Street.

 

And you've based this "big picture" view on what you've heard on TV???

No one said it here. They're saying it on TV.

 

Thanks for the comic relief. And nice job filling in for molton and eliot.

[bills_fan]

Never mind that what people are mostly complaining about is the missed enforcement of the existing regulations. As if passing new regulations going to make incompetent people do their job more competently.

 

 

True, but the CSE program was an unmitigated disaster. That was regulation, just extremely poorly thought out....can't take part of the bank regulatory scheme and ignore leverage. Ignoring CDS...bad idea. Make them transparent and regulated and you may have a decent way to hedge risk. As an opaque unregulated problem, you get October 2008 when LEH went bust.

[GG]

True, but the CSE program was an unmitigated disaster. That was regulation, just extremely poorly thought out....can't take part of the bank regulatory scheme and ignore leverage. Ignoring CDS...bad idea. Make them transparent and regulated and you may have a decent way to hedge risk. As an opaque unregulated problem, you get October 2008 when LEH went bust.

 

Well, now you're onto a whole new arena, and something not a single talking head on CNBC nor anywhere has even broached and that is Basel II and the role that its capital standards played in the credit bubble run up. In short, everyone had to gain from the rise, and very few connected the dots if one domino fell.

 

That's why I half-laugh when there are catcall that government bailouts of financials are upending the free market, when it was government that allowed the bubble to build up.

[RLflutie7]

Who cares if they pass more regulation? The government can't enforce much of what it has passed because it concentrates far to heavily on things it shouldn't be responsible for, which is the reason that things IT IS responsible for end up the way they do.

 

 

Very good remark.

 

Smartest remark I've read here in two weeks.

 

That's why Wall Street is blaming gov't.

[RLflutie7]

Seriously? CNBC? TV?

 

You really want to understand what is happened do some research, think, analyze, consider different sides and theories...then form your own opinion, supported by your own research.

 

You are on a Bills board, so I assume you follow the team. What would your knowledge of the Bills be if all you listened to was the ESPN/national announcers? Maybe watched a couple of games on TV?

 

Now, what if you read all the local writers, listened to experts talk, watched the games yourself (in person), maybe DVR'd the game and broke it down in slow motion, studied the basics of how a football play was contructed and which plays the Bills used...you'd have a pretty good idea why the Bills f*cked up and why they were successful at any given moment right?

 

Watching CNBC gives you the Keyshawn Johnson/Michael Irvin perspective on the market. Want to try to understand what is really going on...do your own research.

 

 

I think you're wrong. Here's why.

 

CNBC is not just talking heads. You really need to watch them more if you think that. They are not Michael Irvin, Tom Jackson and Mike Ditka spouting off opinions. That's part of it, but not all of it.

 

 

CNBC has guests that they interview. Business leaders.

 

They interview CEOs all the time.

 

They interviewed the Bank of America CEO Ken Lewis when BofA bought Merrill Lynch.

 

He said that the investment banks can't stand alone and he always thought that way. He basically said it was a BS business model.

 

He said they didn't have the balance sheet and they would eventually fail because they are not backed by deposits and customers like a regular bank.

 

He said they were approached by Leman Brothers but they couldn't do the deal because they would have needed gov't help.

 

He also said that the investment banking business compensation was way out of whack. He said it was an industry that was the worst he had seen.

 

But he did buy Merrill Lynch because it could be a SMALL part of BofA, but it couldn't be a stand alone business.

[RLflutie7]

Never mind that what people are mostly complaining about is the missed enforcement of the existing regulations. As if passing new regulations going to make incompetent people do their job more competently.

 

 

That's my point. Passing new regulations is not going to work. That's why Wall Street is blaming gov't for have outdated regulations.

 

Because they know they can get around any new regulations that pop up.

[DC Tom]

CNBC is not just talking heads. You really need to watch them more if you think that. They are not Michael Irvin, Tom Jackson and Mike Ditka spouting off opinions. That's part of it, but not all of it.

 

 

Yeah, actually they are. My brother-in-law's been interviewed three times in the past six months on CNBC...he views is basically as a joke, because the talking heads know so little they can't even ask intelligent scripted questions.

 

I'm pretty sure I'll take his informed first-hand experience over your...what is the basis for your opinion, anyway? You have cable?

[RLflutie7]

Yeah, actually they are. My brother-in-law's been interviewed three times in the past six months on CNBC...he views is basically as a joke, because the talking heads know so little they can't even ask intelligent scripted questions.

 

I'm pretty sure I'll take his informed first-hand experience over your...what is the basis for your opinion, anyway? You have cable?

 

 

 

And I'm pretty sure I'll listen to a live interview with BofA CEO Ken Lewis before I listen to what your brother-in-law's view on things is and declare he's the last bastion of common sense.

 

First hand experience, what a crock.

[RLflutie7]

My failure to see the "big picture"?

 

Oh, like this big picture:

 

 

And you've based this "big picture" view on what you've heard on TV???

 

 

Thanks for the comic relief. And nice job filling in for molton and eliot.

 

 

Business leaders are saying it on TV weather you like it or not.

 

I don't make the news, I just report it.

[GG]

I think you're wrong. Here's why.

 

 

And now we've come to the final circle of hell where a guy with a masters in watching CNBC tells a practicing attorney for Wall Street firms that he's wrong about Wall Street regulation.

 

Go get 'em John Clayton.

[RLflutie7]

And now we've come to the final circle of hell where a guy with a masters in watching CNBC tells a practicing attorney for Wall Street firms that he's wrong about Wall Street regulation.

 

Go get 'em John Clayton.

 

 

I don't care who you are, you nut case. You work for Wall Street. That says it all.

[GG]

I don't care who you are, you nut case. You work for Wall Street. That says it all.

 

Don't you have some Hannah Montana tickets to sell to 12 year olds for $500?

 

Yeah, preach some more about moral principles.

[RLflutie7]

Don't you have some Hannah Montana tickets to sell to 12 year olds for $500?

 

Yeah, preach some more about moral principles.

 

 

I don't sell tickets any longer.

 

But I see your point and I agree with it.

 

What's wrong with selling a ticket that you paid $50 for and then reselling it for $150. That's a great profit. Why do you have to sell it for $500?

 

Doing so is gouging the consumer and that's bad for buiness. I'm all for profit, but let's get real. Making three times profit is plenty. I was never for gouging my customers. I want them to be able to afford the event.

 

And I used to go around and around with competitors in the ticket industry about bad business practices, but they never listened. They just told me to bleep off.

 

And then they couldn't understand why the cities wanted to outlaw ticket scalping. I understood why the cities wanted to outlaw ticket scalping. They're trying to protect the best interest of the public.

[DC Tom]

First hand experience, what a crock.

 

Says the guy who has none.