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Bankers to lobby for softer reforms (Davos)

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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 03:14 AM
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Bankers to lobby for softer reforms (Davos)
Source: FT


Senior Wall Street bankers heading to the World Economic Forum will use the meeting in Davos to lobby regulators against a rigorous implementation of Barack Obamas plan to cap the size and trading activity of banks.

They will also oppose the break-up of large financial institutions and insist there should be a concerted effort to tackle the too big to fail issue by other regulatory means.

Its not about being too big but about the interconnections, said one banker. Executives said they would push quietly against the reforms to avoid giving the US president the fight he promised last week.

George Soros, the billionaire financier, welcomed the presidents plan and predicted it could reshape big Wall Street banks. If the legislation were carried through, it would certainly mean the end of Goldman Sachs as we know it, he said.


Read more: http://www.ft.com/cms/s/0/d4af374a-092e-11df-ba88-00144...




It's that time of year again. The monster mash in Davos.
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Faux pas Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 03:45 AM
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1. We've been on our knees for too long, their turn.
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:43 AM
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2. I made a picture for the event..........
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Hubert Flottz Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:53 AM
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3. "People in Hell want ice water too!"
They can dish it out but they can't take it worth a shit...
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Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 08:50 AM
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4. Maybe at least one network will use a split-screen for reporting
One side Davos, the other Haiti :mad:
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Phoebe Loosinhouse Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 09:05 AM
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5. Now that "lobbying" has the additional weapon of a bottomless pit of media dollars
I think we all know how this will turn out, thanks to the Supreme Court.

In the future, he who owns the most free speech wins. This will be true for every single issue we face.
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liam_laddie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 09:59 AM
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6. The book "Web of Debt" by Ellen H. Brown is required
reading for those wishing to learn more about the world's financial elite and their plans. It deals mostly with money supply, banking, and the manipulation thereof. From page 200 on (Section III,) it lays out quite a story. Lots of history and research went into this book; it's well endnoted. Published in 2007, the most recent reprint has a Feb. 2008 postscript and a Dec. 2008 update. Her website "webofdebt.com" has more information, including an April 2009 Thom Hartmann comment.
The blog "dissidentvoice.org" of March 28, 2009 has a useful entry about these issues.
Disclaimer: I'm in no way associated with any of the mentioned sources; simply a curious and very pissed-off citizen.
PS - the five fascist justices of the SCOTUS MUST be impeached!
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