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Read and answer my 9:18 DIBS.
You need to understand how deposit funding works. You need to understand that FDIC insured deposit funding is a government subsidy. Bank can fund this business more cheaply because of non-banks. And this business is essentially playing with taxpayer money.
It is not a free market. It is a quasi-governmental industry.
Absolutely fundamental to understand this. There simply is no such thing as a “free market” with US depository institutions. Everything they do, every little last thing, is taxpayer subsidized.
The entities that are trading in derivatives are NOT “US depository institutions.” Those are separate areas allowed under Glass-Stiegal under the auspices of a larger organization.
Please get at least your nomenclature straight, let alone your facts.
gross man on the train snoring and drooling, stay the hell home if you are that tired!!! sleeping shouldnt be allowed on the train, i never realized how much sleepyheads on the train annoy me until this morning. i was ready to throw my book at his head!! and friday security guard stop scrubbing newports off of me, im broke and im rationing them like exotic pussy! at least offer to pay for them when you scrub them like the other security guards do! and janitor at work, no i dont want to buy long johns or socks from you!
so i’ve been annoyed to the max three times today already and it aint even 930.
ive come to the conclusion that it’s NOT stroller moms and their crotchfruit that annoy me, it’s everyone else!
WTF are you talking about wrt “government protection against China???”
I just told you that derivatives should be an available option to the free markets.
Lawyers are not equipped to argue the nuances of financial instruments. Have you never heard the axiom “Never take legal advice from your accountant and never take acounting advice from your lawyer?”
To categorically deny US banks this business simply shows that our elected officials don’t actually understand them.”
OK stop right there. Incredibly fundamental question: Do you believe that anything that a US depository institution does, even one tiny little thing, is not subsidized by the government?
Or do you actually believe that US depository institutions are some kind of a natural outgrowth of human bartering and any restriction on them is unnatural and anti-free market?
I don’t think the Volcker rule would be a big problem, with the same caveat that Bachus states: “Depending on how U.S. regulators choose to implement it”.
Just means a difference is corporate structures, such as GS prop traders starting up on their own. Don’t see a big net loss of jobs.
Could ethey ven set up arms-length corporate structures internally, such that the prop traders could work in a majority owned company that is separate from the holding company but still controlled by the bank?
I support an exchange base for derivatives trading and rules of the sort that apply to trading in all other financial instruments. To categorically deny US banks this business simply shows that our elected officials don’t actually understand them.
Remember the Goldman guys testifying?? remember people like that moron Maxine Waters and the questions that she and others asked???
Why put US banks at a competitive disadvantage to foreign banks?
Read and answer my 9:18 DIBS.
You need to understand how deposit funding works. You need to understand that FDIC insured deposit funding is a government subsidy. Bank can fund this business more cheaply because of non-banks. And this business is essentially playing with taxpayer money.
It is not a free market. It is a quasi-governmental industry.
Absolutely fundamental to understand this. There simply is no such thing as a “free market” with US depository institutions. Everything they do, every little last thing, is taxpayer subsidized.
Proof of my 9:19 point:
The entities that are trading in derivatives are NOT “US depository institutions.” Those are separate areas allowed under Glass-Stiegal under the auspices of a larger organization.
Please get at least your nomenclature straight, let alone your facts.
gross man on the train snoring and drooling, stay the hell home if you are that tired!!! sleeping shouldnt be allowed on the train, i never realized how much sleepyheads on the train annoy me until this morning. i was ready to throw my book at his head!! and friday security guard stop scrubbing newports off of me, im broke and im rationing them like exotic pussy! at least offer to pay for them when you scrub them like the other security guards do! and janitor at work, no i dont want to buy long johns or socks from you!
so i’ve been annoyed to the max three times today already and it aint even 930.
ive come to the conclusion that it’s NOT stroller moms and their crotchfruit that annoy me, it’s everyone else!
*rob*
WTF are you talking about wrt “government protection against China???”
I just told you that derivatives should be an available option to the free markets.
Lawyers are not equipped to argue the nuances of financial instruments. Have you never heard the axiom “Never take legal advice from your accountant and never take acounting advice from your lawyer?”
“By daveinbedstuy on November 5, 2010 9:15 AM
To categorically deny US banks this business simply shows that our elected officials don’t actually understand them.”
OK stop right there. Incredibly fundamental question: Do you believe that anything that a US depository institution does, even one tiny little thing, is not subsidized by the government?
Or do you actually believe that US depository institutions are some kind of a natural outgrowth of human bartering and any restriction on them is unnatural and anti-free market?
I don’t think the Volcker rule would be a big problem, with the same caveat that Bachus states: “Depending on how U.S. regulators choose to implement it”.
Just means a difference is corporate structures, such as GS prop traders starting up on their own. Don’t see a big net loss of jobs.
Could ethey ven set up arms-length corporate structures internally, such that the prop traders could work in a majority owned company that is separate from the holding company but still controlled by the bank?
DIBS you sound like a union hack who wants government protection against China. Why do you love government subsidies and hate free markets???
I support an exchange base for derivatives trading and rules of the sort that apply to trading in all other financial instruments. To categorically deny US banks this business simply shows that our elected officials don’t actually understand them.
Remember the Goldman guys testifying?? remember people like that moron Maxine Waters and the questions that she and others asked???
Why put US banks at a competitive disadvantage to foreign banks?
lech, Today is a no-go. Thanks for the invite.