Central to that discussion is the fact that Dodd-Frank grants administrative agencies — including the newly created Financial Stability Oversight Council and Bureau of Consumer Financial Protection — broad and unchallengeable discretionary authority. Does Dodd-Frank provide effective oversight by any branch of government — Congress, the president, or the judiciary?
Crafty financiers within a company that is hell bent on committing fraud are going to do it no matter what the law is, or what the accounting standards are.
Many – including the Occupy Wall Street (OWS) crowd – have expressed outrage over Bank of America’s recent attempt to charge customers a $5 monthly fee to use their debit card. These people deplored the move and used it as another symbol of greedy Wall Street “Robber Barons” sticking it to the little guy.
Segregating those funds is a sacred trust between trader and firm. There is no higher calling for a firm. Your customer accounts are sacrosanct. You might earn a little yield over night on the excess in the overnight Repo market, but you never put those funds at risk. That’s the traders job.
You tell me, what’s the “fair” price of a barrel of oil? If it shouldn’t be trading at the price Brent Crude is trading at $ICE, or WTI Crude ($CL_F) at the $CME, then what is it? If you know, you should be able to enter a trade in the market and make a lot of money.
Cuban wades into student loans. This is a half-assed analysis of the situation. The problem isn’t the loans. The problem is the cost of the education combined with the earning potential of the graduate upon attaining a degree. There is a lot of variation in all the moving parts. Fixing higher education isn’t easy.
Last week, Newt Gingrich released his 21st Century Contract with America, composed of 10 specific legislative proposals he would enact if elected President. In the 1994 Congressional campaigns, Republicans not only rode Newt's Contract with America proposals to Republican majorities in Congress. They maintained their House majority for 12 years, after Republicans had only held a House majority for 2 of the previous 74 years.
The knee jerk reaction is that if I don’t concur with Occupy Wall Street and their assault on capitalism, that I must be a greedy capitalist and think the bankers are great guys that should be left alone.
His anti-capitalist nostrums are demoralizing to the economy.
This tax attack is the latest assault from a White House that is making a sharp populist shift to the left. It coincides with a president who trashed the Bank of America for raising debit-card fees in response to a Dodd-Frank price-control edict, and who suggests that banks do not have an inherent right to profit. It’s in league with a president who is throwing in with the Wall Street protesters.
It turns out that Obama’s American Jobs act contains another hidden provision, one that would allow unsuccessful job applicants to sue if they think a company denied them a job because they were unemployed.
Millions of Americans recently celebrated the demise of the Environmental Protection Agency’s job-killing ground-level ozone regulations. While a toast was appropriate, we shouldn’t drink too much champagne just yet.
Main Street wants to string the banks up and let them hang. I don’t blame them. However, there are a lot more folks that deserve to be on the platform with them. Accomplices to the crime you might say.
President Obama’s latest vision on taxes once again singles out energy companies, successful high-end earners, and small-business entrepreneurs for future tax hikes, rather than across-the-board rate-flattening and deduction-ending.
You missed me, but you didn't get me flowers? Well another week and another batch of comments to get through. Enjoy.
It’s about time that someone stood up with a bludgeon and beat back against Obama progressives who are pushing the rest of us around because they can’t think of anything better to do.Um, you know, since it's been shown they have no plan to save the country and never really had one to begin with.
It’s time to put America back to work! Chances are that President Obama will give his “New” plan after his vacation. Most likely, he’ll announce a new stimulus plan with “shovel-ready” infrastructure improvements, a call for more taxes on the “wealthy,” and a move to extend unemployment benefits forever!
Jonathan Alter asked sincerely why everyone thinks Obama's such a bad president. I will answer with five reasons based on substance, although I could probably come up with twenty reasons easily.
But, the latest analysis by the Small Business Administration (SBA) calculates that compliance with federal regulation costs a staggering $1.75 trillion annually - and, that is a 2008 pre-Obama Administration estimate.