tag:blogger.com,1999:blog-37798767.post290628252270912257..comments2023-12-13T04:20:40.592-08:00Comments on Middle-Class Death Trips: Answers and InsultsChris Newfieldhttp://www.blogger.com/profile/01078395415386100872noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-37798767.post-40217678089707921862009-03-10T00:01:00.000-07:002009-03-10T00:01:00.000-07:00heh I like the image of the gaming boys watching G...heh I like the image of the gaming boys watching Goldman Sachs traders and I-bankers through those smoked-class camera basins sunk into the ceiling of every single bank in the US. CSI: Wall Street - Let's write the treatment!Chris Newfieldhttps://www.blogger.com/profile/01078395415386100872noreply@blogger.comtag:blogger.com,1999:blog-37798767.post-40555494734933718552009-03-07T10:27:00.000-08:002009-03-07T10:27:00.000-08:00So why don't we see any moves to repeal the deregu...So why don't we see any moves to repeal the deregulation? A series of bone-headed special interest actions contribute. Dropping the uptick rule on short selling stock you don't own, for instance. Or the stupidity of mark to market accounting, which makes absolutely no sense if there is no present market. Or, more usefully, how does one make the case to the Obama administration? <BR/><BR/>It's not so much a "big picture" here as a "fundamental" one. When things move from providing an essential service to parasitic money-making at the expense of the community, then there has to be change. <BR/><BR/>The derivatives stuff is just gambling with a banking skin. May as well repackage bets in Vegas into tranches resold as "investment" with a risk rating. Should be gambling laws that apply. <BR/><BR/>If regulatory folks can't tell investment from gambling, then they aren't regulating, are they? At least with gambling, the regulation aims to prevent manipulating the events on which the bets are made.Gerry Barnetthttps://www.blogger.com/profile/02697981765225241196noreply@blogger.com