re: #488 webevintage

A pox on Republicans…and Ben Nelson.

What is it they think is missing from financial reform and do they have a bill of their own?

Whatever happened to clean, simple bills that cut to the heart of the matter? If an institution walks like a bank and quacks like a bank, bring it under the authority of the banking laws. Don’t allow it to be too big to fail, but outside the reach of regulations on capital reserves and prudence.

As things now stand, and would continue to stand if this current bill becomes law, it is possible for an institution to bet far more than it has, on bets it thinks it understands but doesn’t, and when it loses, run under the skirts of the feds. But if it wins, laugh and live large on the bonuses it “earns”.