Wed Feb 27, 2013, 08:51 PM
patrice (47,992 posts)
Past Republican Chair of FDIC, Sheila Blair, cites Bain report of $900 trillion in global financial
assets, by 2020, as justification for fundamental tax reform.
Yes, I'm gritting my teeth: I know this is a Republican characterizing her failed candidate's financial voice, but it's been so long since we've seen any even very indirect reference to the derivative bubble that I thought this interesting anyway. How much do you just guess that $900 trillion is inflated by, roughly, 20%? less? more?
Also, I thought this op-ed is interesting for it's call to "fundamental tax reform" which could take any one or more of a variety of forms, depending upon how generalized and non-partisan the response of the grassroots is.
6 replies, 1198 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Past Republican Chair of FDIC, Sheila Blair, cites Bain report of $900 trillion in global financial (Original post)
Response to patrice (Reply #2)
Wed Feb 27, 2013, 09:27 PM
elleng (75,300 posts)
3. Right and I'm with you, patrice.
Must say I've never been very sensitive about what others think of me (ESPECIALLY when I know I'm right! )
Sheila Bair is terrific, and was a great public servant.
Response to CanonRay (Reply #4)
Thu Feb 28, 2013, 12:51 PM
patrice (47,992 posts)
5. Good question, but how can anyone know, or find out, since it's all PRIVATE contracts?
For whatever other missed-moves or other problems the President has had from day one, this has to be one of the biggest ones.
There's no way to know how "deep their pockets" are (how long 1% can wait this thing out) nor who might be the more likely prospects to do NEW business with.
I would have liked to see a much much more Leftie administration, but I do have a general understanding of what our situation is and why someone might need to court the 1% for 4 years.
That's DONE now. They've had their chance to re-configure (read that, eat their own low hanging fruit) and prune those credit default swaps off of the tree.
So it's our turn now. I'm working toward something that is actually new and I hope that recognition of this WHOLE situation results in something that is at least parallel with the Fed, even if it is somewhat significantly smaller . . . .
because THAT's what all of that private secrecy NECESSITATES.