<< <i>I didn't read it, but my first instinct is an article of a bunch of Wall Streeters wanting the party to continue just like before. >>
I did read it, and its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC. Either way, its all just a shell game in the end. There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. Thats whats gone wrong here folks....we simply dont produce anything anymore!
<< <i>I did read it, and its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC. Either way, its all just a shell game in the end. There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. Thats whats gone wrong here folks....we simply dont produce anything anymore! >>
I terminated my subscription to the wsj because of all the B/S they expouse. They "talk the talk" but when it comes time to taking a real stand, they stick with the status quo. Makes me think they are controlled by the NY Times.
<< <i>There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. >>
I don't think skyscrapers in any country produce anything but "paper."
But I do agree with your broader point about the decline of US manufacturing.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
I scanned it, curiosity got the best of me. Seemed to me it was trying to lay the blame on the fact they are regulated and the regulators / lawmakers can be bought through lobbies. Well, what a news flash that was....
Then they, to me, seem to suggest it would all be much better with less regulation. I'd have really given it an in-depth read, but someone told me there were foxes outside so I have to go unlock and open the chicken coop door so the chickens will be safe.
<< <i>its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC >>
This statement nails it. And, it nails it on more than simply monitary/investment issues. The guys in Washington will simply not stop manipulating the laws of the land (I guess they think that writing new legislation is doing their job - what a myopic bunch!); however, it is too frequently to their benefit and to the demise of the intent of the original lawmakers. Enforcement of anything is too often ignored and even actively legislated against.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. –John Adams, 1826
<< <i>But I do agree with your broader point about the decline of US manufacturing. >>
We are still the largest manufacturing country in the world and the biggest exporter. Half of what we import goes into manufactured goods. BUT we could do more. Much more.
<< <i>Then they, to me, seem to suggest it would all be much better with less regulation. I'd have really given it an in-depth read, but someone told me there were foxes outside so I have to go unlock and open the chicken coop door so the chickens will be safe. >>
Regulation is a two edged sword. Take a piece of Wall Street regulation that went awry: Sarbanes-Oxley has driven billions of dollars of underwriting fees off-shore to subsids of Wall Street firms and foreign competitors. To what end? The business still gets done but not here. We don't need adversarial legislation that hinders the economy. We need rules & regs that promote capitalism.
Comments
<< <i>I didn't read it, but my first instinct is an article of a bunch of Wall Streeters wanting the party to continue just like before. >>
I did read it, and its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC. Either way, its all just a shell game in the end. There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. Thats whats gone wrong here folks....we simply dont produce anything anymore!
<< <i>I did read it, and its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC. Either way, its all just a shell game in the end. There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. Thats whats gone wrong here folks....we simply dont produce anything anymore! >>
Excellent point.
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Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>There are 500+ skyscrapers in downtown Chicago. Not a single one of them produces anything but "paper", be it law documents, real estate documents, tax documents.....nothing produced in the end but a pile of paper. >>
I don't think skyscrapers in any country produce anything but "paper."
But I do agree with your broader point about the decline of US manufacturing.
Then they, to me, seem to suggest it would all be much better with less regulation. I'd have really given it an in-depth read, but someone told me there were foxes outside so I have to go unlock and open the chicken coop door so the chickens will be safe.
<< <i>its actually about more accountability and enforcement of the "rules" already on the books concerning the SEC >>
This statement nails it. And, it nails it on more than simply monitary/investment issues. The guys in Washington will simply not stop manipulating the laws of the land (I guess they think that writing new legislation is doing their job - what a myopic bunch!); however, it is too frequently to their benefit and to the demise of the intent of the original lawmakers. Enforcement of anything is too often ignored and even actively legislated against.
–John Adams, 1826
<< <i>But I do agree with your broader point about the decline of US manufacturing.
>>
We are still the largest manufacturing country in the world and the biggest exporter. Half of what we import goes into manufactured goods.
BUT we could do more. Much more.
<< <i>Then they, to me, seem to suggest it would all be much better with less regulation. I'd have really given it an in-depth read, but someone told me there were foxes outside so I have to go unlock and open the chicken coop door so the chickens will be safe. >>
Regulation is a two edged sword. Take a piece of Wall Street regulation that went awry: Sarbanes-Oxley has driven billions of dollars of underwriting fees off-shore to subsids of Wall Street firms and foreign competitors. To what end? The business still gets done but not here.
We don't need adversarial legislation that hinders the economy. We need rules & regs that promote capitalism.