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RE: Do we really have a clue what financial reform we need?
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John Gelles
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Oct 28, 2009 16:01 PST
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James Cumes asked -- Do we have a clue of what reform we need--as we
suffer from unemployment, deflation, populist anger and despondency--
all as a result of following rules and practices that kept government
off our back, --when we wanted something more effective to help us pay
our bills and feed our family. ?
Thomas Cooley wants regulations that will tend to prevent recurrence of
the 2007-2009 crises. He also wants regulations that make those
responsible for financial crises bear losses proved to be their fault --
in accordance with law.
Gelles wants a reversible money pump that can overcome deflation,
prevent hyper-inflation, keep food on the table and bury the
anti-welfare staters in six feet of the manure they sold to the world as
gravy.
See the Google Site, The MONEY PUMP for DUMMIES. Link will appear in
next reply.
FORBES and Cooley advised:
| | FORBES ON THE INTERNET:
Capital
Fiddling Over Reform
Thomas F. Cooley, 10.28.09, 12:00 AM EDT
Paul Volcker and Mervyn King are slapped down.
... [see original text for whole message]
The statements emerging from the House Financial Services Committee make
it unclear that they really embrace the idea that the polluter should
pay. Equally, it is unclear that the Administration is fully willing to
embrace the idea that firms cannot be too big to fail and that such
unpriced guarantees create more risk and bad decision making. But this
is the critical time and this is the critical debate to be having. If we
don't tackle it, we can sit back and wait for the next meltdown.
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