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Bachmann Appointed to Task Force for Derivatives Solutions

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Qutzupalotl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:01 PM
Original message
Bachmann Appointed to Task Force for Derivatives Solutions
Washington, D.C., Oct 1 -

U.S. Representative Michele Bachmann (MN-06) today announced her appointment to the Derivatives Task Force by Republican Ranking Member Spencer Bachus of the House Financial Services Committee. The Task Force, which met for the first time today, will develop strategies and solutions for reforming the financial regulatory system.

Several Minnesota businesses, including 3M, have expressed concern that Democrats proposals to regulate derivatives would over-reach and infringe on their ability to hedge risks responsibly, said Congresswoman Bachmann. And in the current economic climate, I question the prudence of impairing their ability to manage genuine operating risks. The end result would likely be unnecessarily sidelining precious capital capital that we need in the marketplace to create jobs and help the economy recover.

I look forward to working with my colleagues to improve our current patchwork of financial regulation and move towards a more effective and efficient system that legitimately improves the safety and soundness of our financial system.

http://bachmann.house.gov/News/DocumentSingle.aspx?Docu...

_______________________

Anyone feel better now?
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supernova Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:03 PM
Response to Original message
1. 'infringe on their ability to hedge risks responsibly'
Derivatives... hedging responsibly?!?

:wow:

:crazy:

And that woman couldn't explain her way out of a paper bag.

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indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:04 PM
Response to Original message
2. Unbef'n unbelievable
:P
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T Wolf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:04 PM
Response to Original message
3. Capital MUST BE FREE! She will introduce the Capital Emancipation Bill to break the
bonds of slavery that keeps capital from enjoying its rights as free citizens of corporate Amerika.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:05 PM
Response to Original message
4. (shrug) People who know nothing about math spout off on the topic all the time.
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Xipe Totec Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:05 PM
Response to Original message
5. Precious capital...
My precious....


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XOKCowboy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:06 PM
Response to Original message
6. She's the "best and brightest" of the GOP. Why not?
Give her the most visible platform possible I say! Let her speak! She's our secret weapon. She shows the "thinking world" the state of the current GOP and it's not a pretty picture.
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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:06 PM
Response to Original message
7. Can't wait to hear Bachmann tell us what derivatives are.
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LeftinOH Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:23 PM
Response to Reply #7
12. This is what derivatives are:
-and she's just the right person to be put in charge of them-
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:07 PM
Response to Original message
8. Bachmann has no clue what derivatives ARE. She is a puppet.
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nebenaube Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:08 PM
Response to Original message
9. Ok, I'll say it now... WE'RE DOOMED! n/t
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EmeraldCityGrl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:11 PM
Response to Original message
10. Michael Moore must be having a coronary.
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rocktivity Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:18 PM
Response to Original message
11. It's the lack of regulation that created the problems they're having.
Just like with health care. And housing. And credit...

:boring:
rocktivity
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wolfgangmo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:24 PM
Response to Original message
13. I love Michelle Bachmann
She's great for dem fund raising.

Here's a math formula for that phenomenon --- MB + open mouth = $30000 / second of drivel
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Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 01:57 PM
Response to Original message
14. Derivatives
Those are the things that derive around in golfcarts or something.

But if they contain CO2 they are natural.
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BlooInBloo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 06:38 PM
Response to Original message
15. I look forward to her explaining the limitations/assumptions of the Fundamental Theorem of Calculus
Stochastic version.
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TankLV Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-02-09 06:45 PM
Response to Original message
16. Now THAT should be "entertaining"!!!
And just in time for a Halloween rollout!!!
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