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Post by john on Nov 10, 2009 15:07:27 GMT -5
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Post by will on Nov 10, 2009 18:50:36 GMT -5
The highlights sure sound good.
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Post by john on Nov 10, 2009 18:55:09 GMT -5
Honestly, if you skim through the bill and check out the parts about the Fed, they are very interesting and aimed directly at big financial institutions, who will spend millions in TARP money to defeat it.
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bigbadboom
Full Member
Pay attention to me!!!
Posts: 151
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Post by bigbadboom on Nov 10, 2009 20:12:57 GMT -5
Wouldn't it be great that if your institution accepted TARP money you would be banned from lobbying or hiring lobbyist?
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Post by will on Nov 10, 2009 20:14:47 GMT -5
Wouldn't it be great that if your institution accepted TARP money you would be banned from lobbying or hiring lobbyist? No kidding. The government actually owns them, after a fashion, so I don't see why this couldn't be done as a matter of corporate governance, not by government action. |
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Post by flylooper on Nov 11, 2009 11:09:33 GMT -5
Dodd is in the re-election fight of his life. He's taking aim at the Fed and the FDIC precisely because he needs to show he's not in bed with the banks. (Remember, he got a sweetheart loan from Countrywide, which the GOP is using like a claw hammer on him.)
But that said, his proposals are valid. This may be a blessing in disguise. Both the FDIC and the Fed fucked up hugely. They're the ones left holding the snipe bags when the crash occurred because they failed in their responsibilities. Regulatory authority SHOULD be taken away from them, IMHO.
And, natch, both agencies are fighting tooth and nail to hold on to their power.
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