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 4-AcO-MET
Stranger
Registered: 06/16/12
Posts: 587
Last seen: 10 months, 16 days
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 Re: Obviously Pris Isn't Here Right Now  [Re: starfire_xes]
#16465715 - 07/01/12 05:07 PM (11 months, 10 days ago) |
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Because what they propose is anarchy. For profit anarchy.
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starfire_xes
Living colors,,,,
 
Registered: 10/24/09
Posts: 12,711
Loc: Southwest US
Last seen: 2 hours, 40 minutes
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Re: Obviously Pris Isn't Here Right Now [Re: 4-AcO-MET]
#16465720 - 07/01/12 05:08 PM (11 months, 10 days ago) |
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Quote:
4-AcO-MET said:
Because what they propose is anarchy. For profit anarchy.
What anarchy?
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 IF THE NEIGHBORS COMPLAIN BECAUSE THE MUSIC'S TOO LOUD, TURN IT UP SO YOU CAN'T HEAR THEM BITCH
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NizzyJones
Fight evil with funk
Registered: 08/22/06
Posts: 1,895
Loc: Somewhere North of Normal
Last seen: 28 days, 5 hours
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Re: Obviously Pris Isn't Here Right Now [Re: starfire_xes]
#16465736 - 07/01/12 05:11 PM (11 months, 10 days ago) |
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I'm fine with Libertarian social policy but their economic policy is generally... well, borderline medieval.
Tort law is not enough to protect the people when the people being injured can't afford a fleet of lawyers to fight about it for a decade.
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Wildflower seed on the sand and stone, may the four winds blow you safely home
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4-AcO-MET
Stranger
Registered: 06/16/12
Posts: 587
Last seen: 10 months, 16 days
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Re: Obviously Pris Isn't Here Right Now [Re: NizzyJones]
#16465743 - 07/01/12 05:12 PM (11 months, 10 days ago) |
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Quote:
I'm fine with Libertarian social policy
Yep, me too.
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NizzyJones
Fight evil with funk
Registered: 08/22/06
Posts: 1,895
Loc: Somewhere North of Normal
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Re: Obviously Pris Isn't Here Right Now [Re: starfire_xes]
#16465745 - 07/01/12 05:13 PM (11 months, 10 days ago) |
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Most Libertarians take the view that the fear of litigation is sufficient to remove most or all regulatory structure from industry. History does not agree.
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Wildflower seed on the sand and stone, may the four winds blow you safely home
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starfire_xes
Living colors,,,,
Registered: 10/24/09
Posts: 12,711
Loc: Southwest US
Last seen: 2 hours, 40 minutes
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Re: Obviously Pris Isn't Here Right Now [Re: NizzyJones]
#16465771 - 07/01/12 05:20 PM (11 months, 10 days ago) |
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Quote:
NizzyJones said:
Most Libertarians take the view that the fear of litigation is sufficient to remove most or all regulatory structure from industry. History does not agree.
Yea, we need more regulators, kind of like the ones that were moping their mules over internet porn instead of doing the due diligence on the Gulf Oil platform, or the ones that knew Bernie Madoff was a fraud, etc?
Yes, we need SOME regulation. The point is, we have gazillions of rules and regulations for everything, and then when something fails--i.e. regulators didn't function properly--people start screaming for more regulation.
The problem is, no one regulates the regulators. The reason? because they are NON-ELECTED POLITICAL Hacks that use the regulatory system to impose penalty on political opponents.
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IF THE NEIGHBORS COMPLAIN BECAUSE THE MUSIC'S TOO LOUD, TURN IT UP SO YOU CAN'T HEAR THEM BITCH
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The Ecstatic
Chilldog Extraordinaire
Registered: 11/11/09
Posts: 6,494
Loc: 'Merica 
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Re: Obviously Pris Isn't Here Right Now [Re: NizzyJones]
#16465797 - 07/01/12 05:28 PM (11 months, 10 days ago) |
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Quote:
NizzyJones said:
I'm fine with Libertarian social policy but their economic policy is generally... well, borderline medieval.
Tort law is not enough to protect the people when the people being injured can't afford a fleet of lawyers to fight about it for a decade.
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Cj-B
All the same...I saw it first.
Registered: 07/16/11
Posts: 2,628
Loc: Illinois
Last seen: 44 minutes, 25 seconds
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Re: Obviously Pris Isn't Here Right Now [Re: The Ecstatic]
#16465834 - 07/01/12 05:40 PM (11 months, 10 days ago) |
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Uhmm...just a little question here? How many of the people criticizing Gary Johnson for his economic policies actually KNOW his economic policies and his history?
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Men are born for games. Nothing else. Every child knows that play is nobler than work. He knows too that the worth or merit of a game is not inherent in the game itself but rather in the value of that which is put at hazard. Games of chance require a wager to have meaning at all. Games of sport involve the skill and strength of the opponents and the humiliation of defeat and the pride of victory are in themselves sufficient stake because they inhere in the worth of the principals and define them. But trial of chance or trial of worth all games aspire to the condition of war for here that which is wagered swallows up game, player, all. - The Judge
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NizzyJones
Fight evil with funk
Registered: 08/22/06
Posts: 1,895
Loc: Somewhere North of Normal
Last seen: 28 days, 5 hours
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Re: Obviously Pris Isn't Here Right Now [Re: starfire_xes]
#16465846 - 07/01/12 05:43 PM (11 months, 10 days ago) |
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Quote:
starfire_xes said:
Quote:
NizzyJones said:
Most Libertarians take the view that the fear of litigation is sufficient to remove most or all regulatory structure from industry. History does not agree.
[...]
The problem is, no one regulates the regulators. The reason? because they are NON-ELECTED POLITICAL Hacks that use the regulatory system to impose penalty on political opponents.
No, see, that's why you have regulations in the first place - so that there are clearly defined rules for what the regulatory agencies can and cannot do. The problem with the financial industry is that it can often be unclear which regulatory agency is responsible (there was literally no regulation relating to the derivatives that led to the fiscal meltdown) and there's very little regulation of hedge funds (Bernie Madoff) because it's assumed that people realize hedge funds are inherently risky, obviously not an ideal situation. The regulation of the regulators is, ostensibly, done by the judiciary and the congress. However I, and a number of people who know a lot more about it than I do, take the view that the problem in the financial industry is under-regulation, or at least the fact that with deposit banks acting as investment banks it becomes unclear who is in charge. I know the SEC frequently settles rather than take large banks to court and risk wasting massive amounts of money only to lose and it's unclear what we can do about that, beyond demanding more detailed allocution in those cases.
My memory of the details of the DWH spill are spotty but if I recall correctly the company who installed the well may have intentionally falsified their reports to the regulatory agency in charge about the capacities of the concrete mixture being used.
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Wildflower seed on the sand and stone, may the four winds blow you safely home
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starfire_xes
Living colors,,,,
Registered: 10/24/09
Posts: 12,711
Loc: Southwest US
Last seen: 2 hours, 40 minutes
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Re: Obviously Pris Isn't Here Right Now [Re: NizzyJones]
#16465864 - 07/01/12 05:47 PM (11 months, 10 days ago) |
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Quote:
NizzyJones said:
The problem with the financial industry is that it can often be unclear which regulatory agency is responsible
The problem with with the financial industry is that the administration, as well as the previous administration, are riddled with Goldman Sachs and other wall street people.
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IF THE NEIGHBORS COMPLAIN BECAUSE THE MUSIC'S TOO LOUD, TURN IT UP SO YOU CAN'T HEAR THEM BITCH
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starfire_xes
Living colors,,,,
Registered: 10/24/09
Posts: 12,711
Loc: Southwest US
Last seen: 2 hours, 40 minutes
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Re: Obviously Pris Isn't Here Right Now [Re: starfire_xes]
#16465875 - 07/01/12 05:49 PM (11 months, 10 days ago) |
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Exhibit 8: The revolving door between Goldman Sachs and the Obama Administration
Name
Relation to Goldman Sachs
and its offshoot the Hamilton Project
Position in Obama Administration
1 Obama, Barack Goldman Sachs employees contributed $994,795 to Obama’s presidential bid. President
2 Biden, Joe Goldman has been a major campaign contributor to Biden. Vice President
3 Altman, Roger Hamilton Project member and was Assistant Secretary of the Treasury under “Mr. Goldman Sachs”, Robert Rubin. He is “one of those power brokers with all encompassing contacts within the Democratic Party”.
4 Brainard, Lael Associate and protégé of Robert Rubin. United States Under Secretary of the Treasury for International Affairs
5 Buffett, Warren He has invested billions in Goldman Sachs. He is one of Obama’s fundraisers and economic advisers.
6 Clinton, Hillary In 2008 she received $415,000 (inflation adjusted) from Goldman Sachs. United States Secretary of State
7 Craig, Gregory He left the White House to become Goldman Sach’s chief lawyer in defending against its SEC suit. He was Obama’s White House Counsel.
8 Donilon, Thomas He was a lawyer at O’Melveny and Myers representing meltdown clients including Goldman Sachs. Deputy National Security Adviser to Barack Obama
9 Dudley, Bill He joined Goldman in 1986 and was partner and managing director until 2007. Federal Reserve Bank of New York President since January 2009
10 Elmendorf, Douglas He previously was the Director of the Hamilton Project. He became Obama’s Director of the Congressional Budget Office in January 2009.
11 Emanuel, Rahm Received large contributions from Goldman Sachs as a Congressman and was on a $3,000 a month retainer from Goldman while he worked as Bill Clinton’s chief fund raiser. Obama’s Chief of Staff, the very first person Obama selected to be in his administration.
12 Farrell, Diana She worked for two years at Goldman Sachs. Deputy Director of the National Economic Council
13 Friedman, Stephen He worked for much of his career with Goldman Sachs, holding numerous executive roles and still serves on the company board. Chairman of Obama’s Foreign Intelligence Advisory Board
14 Furman, Jason Former Director of the Hamilton Project He was director of economic policy for the Obama Presidential Campaign.
15 Fudge, Anne Trustee of the Brookings Institution within which the Hamilton Project is embedded Member of Obama’s budget deficit reduction committee
16 Gallogly, Mark He is member of the Hamilton Project’s advisory council. He is a member of President Barack Obama’s President’s Economic Recovery Advisory Board.
17 Geithner, Timothy A protégé of both Henry M. Paulson Jr., a former chief executive of Goldman Sachs, and Robert Rubin, former co-chairman of Goldman Sach. He was Obama’s Secretary of the Treasury.
18 Gensler, Gary He was a Goldman Sachs partner. Obama’s Commodity Futures Trading Commission head.
19 Greenstone, Michael Director of the Hamilton Project He was an economic adviser position to Obama.
20 Hormats, Robert 27 years at Goldman Sachs, including as the Vice Chairman of Goldman’s international arm. The top economics official at Obama’s State Department
21 Kashkari, Neel. Former Vice President of Goldman Sachs He worked for Obama on TARP oversight.
22 Kornbluh, Karen She was Deputy Chief of Staff to Robert Rubin. Obama’s Ambassador to the OECD
23 Lew, Jacob He sits on the Brookings-Rubin funded Hamilton Project Advisory Board. United States Deputy Secretary of State for Management and Resources
24 Orszag, Peter He was the founding director of Goldman Sachs’ Hamilton Project Obama’s Budget Director
25 Patterson, Mark Former lobbyist for Goldman Sachs verseer of TARP bailout funds, $10 billion of which went to Goldman.
26 Rattner, Steve A billionaire financier who sits on the Advisory Council of the Goldman funded Hamilton Project. He oversaw the Obama Administration’s rescues of General Motors and Chrysler,
27 Reischauer, Robert D. He has close ties to Robert Rubin and sits on the Advisory Council of the Goldman funded Hamilton Project. Appointed by Obama as one of the two public trustees of the Social Security and Medicare trust fund.
28 Rivlin, Alice She is a member of the Hamilton Project board and of the board of directors of the New York Stock Exchange. Appointed by Obama to his “deficit reduction commission”.
29 Rubin, James Son of Robert Rubin (see next entry). Served as a headhunter for Obama
30 Rubin, Robert 26 years at Goldman Sachs and its former co-chairman. Also former Chairman of Citigroup. Along with Goldman Sachs, he funded the Hamilton Project. Regarded by insiders as the de facto President of the United States.
31 Sperling, Gene In 2008 he was paid $887,727 by Goldman Sachs as a consultant. Advisor to Obama’sTreasury Secretary Tim Geithner on financial bailouts and other matters.
32 Storch, Adam Former Vice President of Goldman Sachs Obama appointed him Managing Executive of the Security and Exchange Commission’s Division of Enforcement.
32 Summers, Larry He landed a big-time job at Goldman Sachs after crashing as Harvard’s President. In 2008 Goldman Sachs paid him $135,000 for a single speech. Obama’s chief economic adviser and head of the National Economic Counsel.
Source: compiled from “A List of Goldman Sachs People in the Obama Government”, by fflambeau, April 27, 2010, http://my.firedoglake.com/fflambeau/2010/04/27/a-list-of-goldman-sachs-people-in-the-obama-government-names-attached-to-the-giant-squids-tentacles/
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IF THE NEIGHBORS COMPLAIN BECAUSE THE MUSIC'S TOO LOUD, TURN IT UP SO YOU CAN'T HEAR THEM BITCH
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NizzyJones
Fight evil with funk
Registered: 08/22/06
Posts: 1,895
Loc: Somewhere North of Normal
Last seen: 28 days, 5 hours
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Re: Obviously Pris Isn't Here Right Now [Re: starfire_xes]
#16465891 - 07/01/12 05:53 PM (11 months, 10 days ago) |
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There's some truth to that. But on the other hand, you need people who understand what these banks are doing in order to contemplate what to do about it.  Just like you'll always have lawyers in government, there ain't no way around that. 
Edit: I admit this is cherry picking and I'm sure Mr. Buffet likes making money but I don't think he's on the side of the banks here.
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Wildflower seed on the sand and stone, may the four winds blow you safely home
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