March 31, 2008
– Comments (4)
The headline reads "Tougher Regulations May Hurt Wall Street Profits" when it probably ought to read "Tougher Regulation to Control Misleading Reports on Profits and Gross Fudging and Deception by Wall Street."
In his NY Times column this morning Paul Krugman calls it "The Dilbert Strategy." Link below:
Well, it won't save us fromt he dredit crisis and the massive debt, so I am very upset we can not adress the fundamental weakness and no the hot topic issue.
Come visit the The Official Dollar Report, for some important information.
What Wall Street profits?
"Tougher Regulations May Hurt Wall Street Bankruptcies" would be more accurate. Wall Street wants the profits they had when they could make up earnings at will, but be protected with taxpayer money from the predictable repercussions.
It's staggering what they feel entitled to, but neither Bernanke nor Paulson has failed to give them everything they want yet, so expect their demands to keep increasing.
I didn't get much reading done this morning so I did not get to see analysis of what was being said and Robert Reich basicly sums it put as an exercise in public relations that does absolutely nothing to correct the problems.
"Most significantly, the proposal doesn’t call for investment banks, hedge funds, and other currently unregulated financial institutions to hold capital assets proportional to the risks they’re taking on."
Stkitt, that link basically says the same kinds of thing Reich says, no changes, just window dressing.
I saw your Dollar Report ATWDLimited.
mandrake66, I am not sure how to interpret your headline. By hurt I think you mean prevent bankruptcies that should happen, but that is with context of what else you wrote. Without reading the rest I thought you were saying bankruptcies would be harsher.
I agree that their entitlement beliefs are mind boggling. But, people keep buying their over priced shares...