Monday, October 31, 2011

Client Cash Reportedly Missing At MF Global As It Collapses. WHERE IS THE VOLCKER RULE?

I’ll tell you where it is.  DOA (dead on arrival) due to corruption and continued lobbying by Wall Street to dismantle the regulation and make what is left toothless.  Republicans or Democrats.  It doesn’t matter.  They are all swimming in Washington’s sea of corruption.

I harped on Glass-Steagall for years; including when no one had ever heard of it.  20 pages.  No bullshit.  No trading.  No risky schemes.  Just plain lending for FDIC insured institutions.  In 2011 I said Glass-Steagall was now too little, too late.  I believe Wal Street has sealed its fate. 

Title link here.

posted by TimingLogic at 8:29 PM

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