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!!!!!