Links 5/7/2022
3 years ago
Friday, October 30, 2009
Stimulus math
650k jobs saved with $150 billion stimulus
Hmmm...lets do the math.
$230,769 per job = $150,000,000,000/650,000
Hmmm...lets do the math.
$230,769 per job = $150,000,000,000/650,000
Congress leaves loophole in OTC derviatives regulations
Hedge funds and mortgage banks can avoid derivatives regulation by classifying their derivatives as "risk management tools". See Bloomberg article.
A Null Set’
“As just about all swaps could be defined as being used for risk management purposes, we’re concerned that unintentionally the category of ‘major swap participant’ could have been narrowed so significantly, or even to a null set,” CFTC Chairman Gary Gensler told reporters after the hearing.
A former CFTC chairwomen attempted to regulate OTC derivatives in the 1990's but was effectively censored by Summners, LEvit (who now regrets not supporting her), and Greenspan (who nows sees the folly in unregulated markets).
A Null Set’
“As just about all swaps could be defined as being used for risk management purposes, we’re concerned that unintentionally the category of ‘major swap participant’ could have been narrowed so significantly, or even to a null set,” CFTC Chairman Gary Gensler told reporters after the hearing.
A former CFTC chairwomen attempted to regulate OTC derivatives in the 1990's but was effectively censored by Summners, LEvit (who now regrets not supporting her), and Greenspan (who nows sees the folly in unregulated markets).
Tuesday, October 27, 2009
Prescription for America
1. Mandate a fleet fuel average of 40 mpg which includes light trucks and SUV's.
2. Increase tax credits for electric cars.
3. Federally fund bike safe cities.
4. Single payer medical insurance.
5. Get out of Iraq and Afganistan.
6. Pressure Pakistan to remove the fundamentalists from the ISI (they support the Taliban).
7. Increase DARPA funding for projects which have commercial applications. This type of
funding for things like the internet have a huge multiplier effect.
8. Nationalize the Fed
9. Give companies tax incentives not to build complex manufacturing facilities such as semiconductor
fabs in other countries.
10. Strictly regulate derivatives and other complex OTC traded financial instruments.
11. Tax Walmart and other companies that import 90% of their goods.
12. Encourage savings.
13. Pass federal laws on maximum interest rates that banks can charge on credit card accounts. The banks
are bleeding middle class America by hiding out in North Dakota which does not protect the consumer from excessive
interest rates.
2. Increase tax credits for electric cars.
3. Federally fund bike safe cities.
4. Single payer medical insurance.
5. Get out of Iraq and Afganistan.
6. Pressure Pakistan to remove the fundamentalists from the ISI (they support the Taliban).
7. Increase DARPA funding for projects which have commercial applications. This type of
funding for things like the internet have a huge multiplier effect.
8. Nationalize the Fed
9. Give companies tax incentives not to build complex manufacturing facilities such as semiconductor
fabs in other countries.
10. Strictly regulate derivatives and other complex OTC traded financial instruments.
11. Tax Walmart and other companies that import 90% of their goods.
12. Encourage savings.
13. Pass federal laws on maximum interest rates that banks can charge on credit card accounts. The banks
are bleeding middle class America by hiding out in North Dakota which does not protect the consumer from excessive
interest rates.
Wednesday, October 14, 2009
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