Mike Brown/Ferguson riots (16 Viewers)

Bjerknes

"Top Economist"
Mar 16, 2004
116,007
The Glass-Steagal Legislation was one of the legislative regulations that were step by step weakened until being abolished or repealed completely.
Another example would be the legislation concerning bank mergers, which was heavily loosened in that period as well, culminating in the Neal-act in the 1990es and leading to the creating of all these "Too big to fail" banks. Together with scrapping the seperation between commercial and investment banks that Glass-Steagal provided of course.

Similar acts passed in the UK, and later in other European states as well.

Another huge problem remains the trade of derivatives on OTC markets, which, by definition is virtually not regulated by any authority. 90% of all traded derivatives are traded Over The Counter, and the total volume of OTC derivatives amounts to around $700 trillion dollars. When it comes down to it, they're purely tools of financial speculation without much usefullness for the real economy. They do however destabilise the financial system and institutions to a significant extent, not to speak of the huge fraudulent potential of these activites.
But remember, the TBTF banks are a direct result of the Federal Reserve system where they can choose who they deal with. These are the guys they lend to in order to conduct monetary policy. The primary dealers consist of the following:

http://www.ny.frb.org/markets/pridealers_current.html

So the Fed, which is supported by both parties in our government, essentially has total control over every facet of the economy (apart from taxation policy, but we also know they act as a funding source for the US government through QE). This is my point, the actual laws passed by Congress over the past few decades might seem like deregulation, but the whole point of the New York Fed is to oversee these financial intermediaries from start to finish, which is what they do. "Increased regulation" of investment banks now would mean more power to the Fed in a time when they already have enough power, and are quite frankly destroying the economy. But this has been ongoing ever since the Banking Act of 1935 with the creation of the FOMC. More regulation in the US would essentially mean more room for moral hazard when instead TBTF banks should fail hard so that fuckers stop leveraging themselves to death.

I agree with you about OTC derivatives. They all should be forced onto an exchange, but then they would be regulated by the same SEC that fails to prosecute Goldman and certain hedge funds for high frequency trading and stink bidding the shit out of the market. This is just another example of the regulation in place that doesn't work since the government is already infiltrated by these financial terrorists.

i personally still dont know what the people are protesting
I have been following this for a while and still don't know what the fuck these fools are going on about. If they were protesting the police state that would be one thing, but they aren't.

Yeah that's great, but what about the rest of the population that we saw looting the stores? If every news event is somewhat based on race, why hasn't someone pointed out that the vast majority of the looters in Ferguson were black? I did not see a single white person loot a store this week.

There is very little true racism in the United States nowadays, apart from the phantom threat (much like the terrorist threat from the Republicans) of the Democrats where it's hiding behind every nook and cranny. The problem is that McCarthy was infinitely more correct than these posers.

The Obama administration has set us back 30 years in regards to race relations, and this is coming from a guy who voted for him in 2008 like an idiot.
 

Valerio.

Senior Member
Jul 5, 2014
5,762
Valerio, you racist. I get illegal immigration but the world is turning into a melting pot and there's nothing wrong with that.
well let's put it that way....
If turning into a melting pot was/is a good thing why , we italians, are suffering and angry from it?
Why people are starting to riot everywhere and there is this intolerance growing and growing?
It's not about races or what's not. The problem lie in the fact that importing thousands and thousands every year in Italy and those people are hopeless.
Cause there is already a huge crisis and lot of italians are unemployed they're just gonna get here and do nothing but get supported by the gov.
So they either turn out into leechs or work as slaves for peanuts for dishonest peoples.
While where those poors are living will turn for the worse and change into WORSE and not better. So even residents are suffering a change for the WORSE of our beloved country.
We already have enough problems (our politicians,high taxes for so little in return and general decay) so we don't need and want people who can't bring anything positive for us.
But instead will get us all the worse they can. So it's not about being black,pink,yellow,brown whatever it's about that you can't let everyfking whatever come and hop in like it's nothing.
Borders are made for something. Imagine if tomorrrow 1b of africans decide to move all together to Europe what'd you do? welcome them? it's not possible nor wished.
But then 100-200k yearly is acceptable? people without prospective?

It's easy to scream "racist racist" another thing is THINKING about what's happening and try to see the problem from the one your speaking with point of view.
So what are we dreaming? or at least my biggest dream? would be to close borders where they come from and let the army regroup and send back to the nearest african coast.
If you wanna help someone help them there and maybe the world should stop to rob Africa of everything it owns and put disorder all around to make it easier.

So pls keep your melting pot for you, we were happy before that crap about massive immigration. Rest are just words that's the truth we're seeing infront of us. Philosophy is great when you have nothing else to do but problems ain't getting solved with it
 

Ocelot

Midnight Marauder
Jul 13, 2013
18,943
But remember, the TBTF banks are a direct result of the Federal Reserve system where they can choose who they deal with. These are the guys they lend to in order to conduct monetary policy. The primary dealers consist of the following:

http://www.ny.frb.org/markets/pridealers_current.html

So the Fed, which is supported by both parties in our government, essentially has total control over every facet of the economy (apart from taxation policy, but we also know they act as a funding source for the US government through QE). This is my point, the actual laws passed by Congress over the past few decades might seem like deregulation, but the whole point of the New York Fed is to oversee these financial intermediaries from start to finish, which is what they do. "Increased regulation" of investment banks now would mean more power to the Fed in a time when they already have enough power, and are quite frankly destroying the economy. But this has been ongoing ever since the Banking Act of 1935 with the creation of the FOMC. More regulation in the US would essentially mean more room for moral hazard when instead TBTF banks should fail hard so that fuckers stop leveraging themselves to death.

I agree with you about OTC derivatives. They all should be forced onto an exchange, but then they would be regulated by the same SEC that fails to prosecute Goldman and certain hedge funds for high frequency trading and stink bidding the shit out of the market. This is just another example of the regulation in place that doesn't work since the government is already infiltrated by these financial terrorists.
Well, the influence and extent of activity of the FED was again massively expanded during the stagflation of the 1970es on the basis of Friedman's Monetary History of the United States. Of course it had already previously increased its activity, but only in the relatively short term starting in the mid-1930es, and rightfully so in my opinion. The failure of all public institutions, the state and the federal reserve to respond to the market crashes of 1929 was probably the major reason for the severity of the Great Depression. It's at least to my mind ridiculous to propose that monetary policy was the sole reason for both the crash and the recovery as Friedman does (and his thesis that Roosevelt's New Deal even hindered growth and recovery is nonsense to me), but the inflationary monetary policy by the FED played an important part in overcoming the recession.

And I do not really see why tighter regulation would benefit TBTF banks. Of course, regulation is a very unprecise word and without specifications can refer to all kinds of legislations, so it's easy to imagine rules that would indeed benefit only the largest financial institutions, but the regulations that are generally meant to weaken these banks until they're no longer able to destabilise the financial system as a whole in the event of their bankcrupcy. This of course goes hand in hand with the volume reduction of the financial market as whole, which is incredibly blown out of proportions at the moment, not least because of high frequency trading.
 

swag

L'autista
Administrator
Sep 23, 2003
84,754
The decision not to indict is what really makes it so scandalous.
That's due process by a grand jury though. I think people have a huge mental gap between perceived injustice and just what "burden of proof", "innocent until proven guilty", and "tried by a jury of your peers" means unless they actually go beyond the superficial.

To indict someone based on a mob will is also called "lynching".
 

ALC

Ohaulick
Oct 28, 2010
46,527
That grand jury just shows how fucked our justice system is.

They were a bunch of dipshits for not making it go to trial. there was clear proof in video of the cop choking him. That dude deserves to be charged with murder.
 

swag

L'autista
Administrator
Sep 23, 2003
84,754
That grand jury just shows how fucked our justice system is.

They were a bunch of dipshits for not making it go to trial. there was clear proof in video of the cop choking him. That dude deserves to be charged with murder.
But that's how the jury system works. Chances are that there's someone who may see it differently, especially if someone perceives the action in a self-preservation light. (See: Trayvon Martin.)

That the indictment trial failed to get at least 3 votes out of 12, there's very little chance they would be able to convict at an actual trial where 12 out of 12 jurors have to agree to convict.
 

ALC

Ohaulick
Oct 28, 2010
46,527
Isn't that grap illegal in New York?
Yeah, that's what makes it messed up.

But that's how the jury system works. Chances are that there's someone who may see it differently, especially if someone perceives the action in a self-preservation light. (See: Trayvon Martin.)

That the indictment trial failed to get at least 3 votes out of 12, there's very little chance they would be able to convict at an actual trial where 12 out of 12 jurors have to agree to convict.
That's not how I look at it. That jury could've easily been coerced into not voting for a trial by the cops. What I saw from the video was a police officer chokeholding a person. That's illegal and a fact. A jury doesn't change either of those.

The Trayvon Martin case was different because there was no video of the act.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 16)