Friday, May 11, 2012

Still want Mit after he said ....

Mit's been real outspoken when it comes to regulations, he doesn't want any even on the day Chase said it lost $2 billion dollars and that might not be all of it. There might be another billion dollars of fallout besides the stock price taking a dive. Mit said he wants to repeal Dodd/Frank Bill. What I don't understand is why they didn't enact the bill when it was first past. Economist said that the Volker rule would have kept this from happening. Another rule is the Lincoln act, which I just heard about tonight, also would have kept this from happening. Why they put off regulations a year before they go into effect has to be the stupidest thing. I think I'd be really mad if it was my money that was lost because the bill didn't go into effect the day it was signed. I'm guessing that it was so banks could make some shady deals before it goes into effect, such as what Chase did. I heard that one catch phrase, "To big to fail." So far Chase has been big enough to take the hit. I still don't think the Dodd/Frank Bill went far enough and the republicans watered things down. They said that the Dodd/ Frank Bill will put the country at a disadvantage. Seems the trader was in London that cause this $2 billion dollar mistake. So, it doesn't matter where your living if you do unsafe investments. Going to be a lot easier to make the case that regulations do something good. They aren't there because they want to stop business but to make sure that business plays fair and no one gets hurt.

Seems the republicans want you to believe the world of business will come to an end by regulations. I'm sure your happy that regulations protect you from your food and that you don't eat foods that are poison. The republicans have been going after the clean water and air acts so they can drill for natural gas and pollute the air and water ways. Gas wells are leaking green house gas into the air and also leaking into the ground and coming up in streams along with the fraking fluids. Every time you hear a republican say they wants to get rid of some regulations you can be sure they are tied to someone they know and it benefit them. You look at how Chaney wrote the laws which exclude the clean air and water acts when doing fraking. That was a sweet deal for Halliburton who just happens to be it's former CEO. Talk about a conflict of interests while writing the laws. That's like the US Mint having a back door that only you have a key to. Just looking at Chaney I never thought of him as an honest person. Little Bush is also pretty shady. Then all those really wealthy people always have that key to the back door.

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