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Posted by mcblogger at AM | Comments (0) | Track Back Well, Congress wants to regulate the more than 0 trillion market and asked Treasury to come up with a plan.Secretary Geithner, with tons to do, didn't really have the time. had already written a plan that left regulation vague, had no real clearing authority or trade reporting (price quotes).According to a fresh Associated Press poll, public disapproval of President Barack Obama's handling of health care has increased to 52 percent.The poll was released hours before Obama pitches his version of a health care overhaul in a prime-time address to both houses of Congress.
But that's not, as Frank Rich astutely points out, the case.
“The banks appear to wish to maintain the intra-dealer market and raise barriers to new entrants to keep the OTC business as compartmentalized as possible and to protect their profitable market conditions,” said Brad Hintz, an analyst at Sanford C. banks), vague regulation AND we don't have to report trade information? The bit about Limbaugh, which everyone seems so worried about, was hysterical.
Posted by mcblogger at AM | Comments (0) | Track Back Ugh and What a dick. While Rubin may have gone overboard on deregulation (as were the vast majority of economists during the 90's), Larry always went further. While Rubin was an advocate for government running surpluses and paying doubt debt, Summers stuck to his Friedmanite roots, unconcerned about debt loads.
Idealism is wonderful but without tenacity, it turns into what we have now... I hope and pray that the President develops and spine, shows it tonight and forces the issue.
a President elected with the largest majority in 20 years who can't even get members of his own party to do the right thing. We need a leader who is willing to fight tooth and nail, not someone who compromises everything they believe in.