Congress is what made the mortgage mess. which caused the car mess And all those involved will be close to Obama. That means it will only get worse.
> Did you misread my point? I said they have no capability to do that. > > So no, Congress will not dicatate how companies are going to operate > but they will dictate the playing field: > > * Congress and government bodies will ensure that no company has an > industry monopoly. > > * Congress will ensure that no company is "too big to fail" or so big > the failure of which will adversely impact the economy. > > * Congress will protect the consumer. This will mean congress will > have to assume the consumer is moron; a safe assumption as it turns > out. > > For example, if you had no income in 2007 in early 2008 you had your > choice of lenders willing to lend you $1M for a house. That's a > broken playing field. > > For example2, rating agencies could rate a tranche of mortgage-backed > securities AAA to BBB. I could buy up all of the BBB and then > re-package them and them rated AAA to BBB even though the entire > tranche is made up BBB. Confused? > > What that means is that you as the consumer don't realize that THIS > AAA is safe but THAT AAA is junk. That's a broken playing field. > > For example3, You and I could - RIGHT NOW - start a hedge fund. Let's > say we each put in $50,000, that would, under current regs, allow us > to borrow $7,000,000. Now we're a $7M hedge fund. > > Next we tell every CDS desk we're selling swaps. With $7M we could > sell about $100,000,000 in protection and we'd take in about > $5,000,000 per year. > > Within 1 week we're millionaires. > > In fact we each now have $2.5M and we only have to pay capital gains > tax rates so 15% or less. > > Even if our little Hedge Fund goes bust, no problem, since it's all on > borrowed money. Tax payers will take the hit and we're millionaires. > > That's actually legal right now. No kidding. > > Oh so Laissez, but not Laissez enough for some! > > Not a fair playing field. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:283067 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
