President Obama, with Paul Volcker standing in the background, has just held a press conference to say that going forward the banks will be restrained from using government subsidies to engage in proprietary trading and to sponsor private equity and hedge funds. We will see what comes of this. We will see if Congress rides herd, or tries to obstruct or otherwise water down any proposed legislation. If they do, that may be very unwise politically as elections are coming up and voters, as we saw in MA, are in a lather.
This move is a no brainer, and the fact that Paul Volcker, not Timothy Geithner, and/or Larry Summers, was the only advisor in attendance shaking Obama's hand after his announcement has this citizen more than a little intrigued. After all, the former Fed Chairman, has been, by most accounts, at least to date, a very marginalized figure in the Obama administration. But maybe, just maybe the times are a changing. I remain skeptical, yet hopeful.
6 comments:
I hope so but forgive me if I don't hold my breath just yet.
Good day, sun shines!
There have been times of troubles when I felt unhappy missing knowledge about opportunities of getting high yields on investments. I was a dump and downright pessimistic person.
I have never imagined that there weren't any need in big initial investment.
Now, I'm happy and lucky , I begin take up real money.
It's all about how to select a proper partner who uses your money in a right way - that is incorporate it in real business, and shares the profit with me.
You can get interested, if there are such firms? I'm obliged to answer the truth, YES, there are. Please be informed of one of them:
http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]
I'll hope so too.
Btw, Edwardo, you seem to be plagued by spammers these days. You must be doing something right to attract that kind of attention. ;)
DED, you are a half full kind of guy!
I will remember that. I actually really like that in people since it complements my half empty nature.
Be well
DED, you are a half full kind of guy!
I am? Ok, I'll take your word for it, Thai. :)
Thanks for writing thiis
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