Comments on: Treasury Head Seeks More Regulatory Muscle

Geithner Asks Congress For New Powers Over Financial Companies That Could Imperil Economy

[ubrew12]

sndkzyaa said: "Motley Fool has been putting out an excellent series of articles that boil down to one thing: "We always knew not to trust the government. So why are we trusting it with so much power now??? " "

Has Motley Fool given good advice over the last 2 years? Be honest.
The Fool was probably with the rest of them, cheering our fantastic capitalism, even as Wall Street pirates were betting $50 trillion on the outcome of the U.S. housing market.

Why give gov't so much power??? Tell me again, how well its worked keeping govt' OUT OF POWER (and away from Wall Street decisionmaking) for 8 years!

[sndkzyaa]

Geithner's request assumes that the government would know how to run a business better than the existing business leadership does.

There is no evidence to support this assumption.


If this power grab were a part of a larger reguatory reform, like the formation of the SEC and the FDIC was, then this might make sense.

But as it is, it's just a blind grab for power with no regulatory framework to guide it.

It's just creating the next wave of crisis and corruption scandals.

And as has become so common, our government leaders will just stand there blinking in shocked disbelief.... who knew this could happen???

[sndkzyaa]

I don't expect rational action out of the government - ever!
Posted by slownewsday02 at 6:40 PM : Mar 24, 2009

They should have listened when Ross Perot warned about the "giant sucking sound of jobs leaving the country."

They shouldn't have launched the Challenger in such cold weather.

When the Hubble spactetelescope mirror failed two out of three tests, they shouldn't have said "Well, it passed one test" and then put it in orbit anyway.

They shouldn't give this much power to Geithner alone.



Do you think the outcome will be any different this time?

Motley Fool has been putting out an excellent series of articles that boil down to one thing -

We always knew not to trust the government. So why are we trusting it with so much power now???

[sndkzyaa]

I hope that they don't give the Treasury the power to regulate. Congress needs to make the laws for regulation. It concentrates too much power in the Treasury's hands.

Reinstate the Glass/Steagall Act from 1934.
Throw away the Commodities Modernization Act
Posted by perk235 at 5:58 PM : Mar 24, 2009

That's exactly what I'm thinking. It's far too much power in the hands of one man. Especially that particuar man.

There should be several persons involved in making these decisions, just like the FDIC.

There should have been oversight on all bailout money from the beginning.

There should never have been bailouts in the first place.

The reckless banking deregulation never should have happened.

The SEC should have thrown Madoff in the slammer when he was first reported in 2000.

After causing the largest S&L failure in the 1980's Andrew Fastow should have spent the rest of his life working as a janitor with an honest janitor watching him every second.

Well, this is what they get for not listening to me...

[perk235]

I hope that they don't give the Treasury the power to regulate. Congress needs to make the laws for regulation. It concentrates too much power in the Treasury's hands.

Reinstate the Glass/Steagall Act from 1934.
Throw away the Commodities Modernization Act

[aheadace]

IrishWenchAlways stay with the sight like your post just someone that changes there name every other day that may have caused this (HOPE YOU STAY)

[ubrew12]

lorinkundert said: "This Government has already usurped more power than the Constitution permits, how much more are you going to allow before they come for you someday? "

Promise not to lose a trillion dollars gambling on real estate,
and I promise not to sic the government on you.

[lorinkundert]

This Government has already usurped more power than the Constitution permits, how much more are you going to allow before they come for you someday?

[sndkzyaa]

So, are you happy the market has been going up these past weeks ?
Posted by Joe-NY-4 at 4:17 PM : Mar 24, 2009

Yah, if it goes up another 500 points it will be back to where it was the day before Obama took office.

Good job, Obungle...

[sndkzyaa]

Let's see now. The tax cheater who is in charge of the Treasury and the IRS now wants to be in charge of some of the biggest private sector financial institutions, too.



Nope, I don't see any possible issues with that.....NOT!!!!!

[sndkzyaa]

8 years is a miniscule to the Islamists. How old is their culture? 5000 years? That would make the war .0016 of their time span.
Posted by leeanna59 at 4:01 PM : Mar 24, 2009

Islam was started after Christianity started.

[SnowGirlCoveredinDirt]

The war belongs to all of us, whether we wanted it or not.

[whitemale08]

Hey Tim...fixing the economy is NOT risky to taxpayers,
just let the reality of insovency and bankruptcy fix it.

[ontheleft]

'Liberals are always emotional, over react, over reach' 'Reason and Logic simply do not make sense to a Liberal' 'I haven't noticed any Liberal with an ounce of intellectual ability'
Posted by megawhy at 2:42 PM

'It simply gets worse and worse. We literally have incompetents in power in this new administration. The world no longer respects this country, just read the news. Our economy is on the rocks and this Admnistration is clueless.'
Posted by megawhy at 2:42 PM

Yeah, those thoughts about Obama are very well reasoned and intellectual without a hint of emotion. I guess by your own definition you must be a liberal.

[pr_boxer]

You are an idiot. Capitalism has created the highest standard of living for the most people on the planet than any other system. If you think socialism is so great, just move to France, and leave the U.S. alone.
Posted by leeanna59 at 3:08 PM : Mar 24, 2


Its pretty obvious your general knowledge is lacking a considerable amount. You might just look around a little if you don't see the failure!

[bobnjersey]

[Liberals are always emotional, over react, over reach, and respond to empty rhetoric. Reason and Logic simply do not make sense to a Liberal. I heard someone once call Liberalism a mental disease and I am beginning to believe that. :-( ]
[Posted by megawhy at 2:42 PM : Mar 24, 2009 ]

sounds like you'll believe whatever anyone tells you. did you come up with what you posted above yourself ... or did you hear someone else spelling it out for your consumption?

[bobnjersey]

[See, the problem is you only think in simpleton terms......I have studied what has been going on, and I have concluded, that in a desire to pass his stimulus legislation, he needed to bad-mouth the economy, stating it was the worst economy since the great depression, the economy is in crisis, that if we don't act, then we will have a catastrophe,.....]
[Posted by Joe-NY-4 at 2:03 PM : Mar 24, 2009 ]

simpleton terms? another republican co-opting my posts and calling it their own ... how original. can any of you think for yourselves?

you've been studying? wow!

so according to you he needed to bad mouth the economy to pass his stimulus?

is the economy good or bad?

didn't the previous admin do the very same thing?

is the economy good or bad?

ok ... one more time ... is the economy good or bad?

maybe he should have gone on tv in prime time and tell everyone to 'go to the mall' like 'the great babbler' did after 911. he could have added ... 'and be sure to buy everything on credit'


[Now, I know that it's hard for you to understand, let me put it in simpleton terms.....The doom and gloom and bad-mouthing the economy, DOES have an effect on the confidence of the consumer AND the investor......trust me, I am not the only person that has concluded this.....many have called Obama 'the worst destroyer of wealth, this country has seen"....closed quote ]

many? many what ... republicans? that adds up to pretty much nothing at all.

make sure you add this into your studying and non-partisan analysis. the financial industry perpetrated a scam on the world with their complex instruments that nobody understood. these instruments were designed to hide the true risk of the investment.

are you an investor? if you are ... there are two key factors in all investing ... risk and return. if you're not ... there are two key factors in investing ... risk and return.

the whole house of cards has collapsed on their heads ... and unfortunately the heads of everyone else. now everyone is on to their scam ... and as news comes out about how they fleeced all their investors ... the same ones that trusted them to mitigate risk for them ... confidence in 'the game' is lost ...and the market drops. who is going to put their money on the table when they hear that the very entities that are suppossed to be the risk mitigaters ... are actually the risk obfuscators?

but this had nothing to do with confidence in the market ... and people's ... and especially instituational investor's willingness to put their money on the table is not at all affected by this.

and you say i'm thinking in simpleton terms?

[pr_boxer]

It hurts some to admit, but the truth is Capitalism has failed! The free markets will not serve the people, only a certain few, and many of them nothing more than thieves, are served by capitalism.

Sure, the fixes are socialistic, there is no other way out of the quagmire that the unfettered capitalism sponsored by the Bush admin put us in.

[wdh3007]

Geinther is using AIG's economic troubles to gain more power and control for his boss BO and the Government. Since they already control the Banks why not control the Investment company's and everything else they see fit. If this is not Socialism then what is?

[ubrew12]

leeanna59 said: "Obama has stated over and over that he wants to spread the wealth. Translation: He wants to socialize America. How better to socialize America than to break the current economic system? "

You don't think the economic system was broken already? I do.