AUTOREFRESH 
A Stellar Group Obama Assembled for Banking Reform
“President Obama joined Paul Volcker, former chairman of the Federal Reserve; Bill Donaldson, former chairman of the Securities and Exchange Commission; Congressman Barney Frank, House Financial Services Chairman; Senator Chris Dodd, Chairman of the Banking Committee and the President’s economic team to call for new restrictions on the size and scope of banks and other financial institutions to rein in excessive risk taking and to protect taxpayers. ”
The inclusion of Dodd and Frank, two world class experts on banking and economics who hand no hand in the recent financial fiasco, is particularly brilliant.
Who were the “brains” behind the TARP bailout? I seem to recall Republican congressmen were violently opposed to that stupid program and had nothing to do with AIG and GM bailouts either.
More grandstanding for the unwashed masses for votes in the 2010 general election. What deals will be cut to ensure campaign funds from Wall Streeters in the coming months I wonder?
Barney Frank is now going against Obama. Good job. Some sanity may be in this basically insane Obama administration. Then what the hell was this grandstanding Obama speech all about? He makes me sick more and more each day.
Since Obama became president, for the first time, I can honestly say I am ashamed and embarrassed to be an American.
I DISAGREE. OBAMA HAS DONE AN EXCELLENT JOB. BUSH WAS TOTALLY PRO BUSINESS WITH A HANDS OFF POLICY BELIEVING BIGGER IS BETTER AND SELF POLICING. ALL OBAMA IS DOING IS REIGNING IN THE EXCESSES ALLOWED BY BUSH. IT IS EVIDENT BIGGER IS NOT THE SOLUTION. GO OBAMA! WE ARE PROUD OF YOU.
Being European, i won’t judge your president but one has to admit the mess we are in was not his fault and that something has be done about it.
Speak for yourself, but next time – use lower case, your shouting is indicative of a first class troll.
All Obama is really doing is trying to get the populist vote, Wall Streeters were very heavy contributors to O’s campaign as well as to people like Dodd and Schumer. None of the have an (R) attached to their names. (D) candidates raked in far more cash from bankers than did (R) candidates, fact not synchophantic agitprop.
Cheg I agree that all is not is fault, but he has done nothing to help and he is taking advantage of a bad situation to force his liberal ideals on the country. He is a very dangerous man and should not be trusted, just look at the people he surrounds himself with.
Hey Jim, What are you playing today- you scalping EUR/USD? (By the way, you’ll be glad to know that the short eur/usd ‘home run’ trade, as you called it a couple of nights ago, worked out well.)
HEY YANEZ, WE ARE NOT IMPRESSED WITH YOUR MULTIPLE SYLLABLE WORDS. THAT IS ONLY INDICATIVE OF PASSIVE INSECURITY AND A DESIRE TO ATTRACT ATTENTION. IF MY SHOUTING BOTHERS YOU, THEN IT ONLY MEANS MY MESSAGE IS GETTING THROUGH.
>>ashamed
You know, I had the same feeling under Bush. Go figure.
It is clear that unregulated markets are soon consumed by various frauds and scams, which is exactly what the mortgage meltdown was and is. WaMu was securitizing mortgages for houses that were empty lots, fer chrissakes! Let’s not forget the level of greed and fraud what occurred was mind boggling.
The current drive for regulation is sadly a typical Washington shotgun approach — throw stuff at the wall until something sticks, with available votes being far more important than substance in the end. This isn’t any better or worse than usual, and “as usual” is an extremely low bar… like “leave the bar on the ground” low.
Not sure what the solution is, but I am sure that no one is walking away from this happy.
JR, I SCALPED EURUSD LAST NIGHT TWICE FOR A PROFIT OF $90 AND $240 TOTALLING $330. ITS A LITTLE LESS THAN WHAT I TARGET BUT AT SUCH LEVELS, IT WAS HARD TO SHORT EVEN THOUGH THAT WAS THE MARKET DIRECTION. USUALLY CENTRAL BANKS LIKE TO DISRUPT THE MARKET WHICH I GUESSED CORRECTLY AS I QUITE TRADING AFTER THE SECOND TRADE.
I AM HAPPY FOR YOUR HOME RUN. I GUESS “SHOULDA COULDA AND WOULDA” .
Actually it confirms you are an illmannered boor.
BILL, YOU ARE A TRUE POET. YOU STATEMENT IS PROFESSIONAL AND TO THE POINT. HURRAY!!
YANEZ, NAME CALLING ONLY EXPOSES YOUR SEXUAL INSECURITY!!
Congrats Jim. I got lucky last night catching aud/usd at .914, which was a .382 retracement from its previous down move, and have been liquidating that short. I like the way aud/usd trades. I’m dabbling long usd/jpy and may give eur/jpy long a try if it re-tests the 127.2 support level. What are you trading tonight?
Can’t we all drop the political talk and just focus on sharing knowledge and making money? Can’t we all just get along???
There are other boards to vent politics. This is a good one for forex…
JR, I ONLY SCALP THE EURUSD. THAT PAIR HAS THE HIGHEST VOLUME AND VERY READABLE (TO SOME DEGREE) AND THE ACTION NOT SUBJECT TO EXTREME MANIPULATION. SCALPING REQUIRES I GET IN AT THE BEST POSSIBLE PRICE SO I CAN EXIT QUICKLY WITH A DECENT PROFIT. THIS PAIR PROVIDES THESE CRITERIAS. BEST OF LUCK TO YOU TODAY.
Obama inherited the mess bush and his neo-con mates left him.
Im sure hes doing the best he can, although we might not agree with bank bailouts etc, at the end of the day he wanted to save peoples jobs. hes a compassionate leader, and i think will go down in history as the guy who brought america back on track in lie with its wonderful constitution. i only wish that Australia was independant and had a constitution. we have bush’s draconian “anti-terrorism” laws here 2 you know. gives the police too much power.
Well not to worry, we will have the good old GOP back in power soon enough, and they will return us to the same levels of prosperity and fiscal responsibility that we experienced under the Bush administration.
Oh wait…….
I’ve been scalping EURJPY the past couple of days. It’s been very well-mannered, all things considered. I’m using a BB bounce on the M15 chart, with a little hedging and some secret sauce to turn spikes in my favor. I wish I had left AUDUSD alone and just stuck with EURJPY during this period, but them’s the breaks!
Seriously though Jim, there’s no need to use caps. In the world of online forums it’s a big no-no. If you were unaware what caps means online, that’s understandable – but now that you do know, your insistence on continuing with it is indeed very questionable.
did the credit crunch come about as part of obamas policies? no. he wasnt in power then. why do you think bringing back the old guard will make it better? they are the ones who caused the mess. how can you say the GFC and associated fallout was obamas fault? are you smoking crack?
Many people seem to have forgotten that about mid-term, the Bush administration called into question the extremely liberal lending being condoned by FNMA and Freddie-Mac. Their concerns were met with very rude rebuttals from Dodd and Frank. Dodd and Frank should be in jail. Well, maybe just Dodd, Barney might like it too much.
Short term traders have short term political and economic views. I believe most on this forum are “short-termers”. The mess we are in today is the result of decades of irresponsibility and reckless fiscal and monetary policy promoted by the STATE! While I believe the O administration is simply accelerating the inevitable, many past administrations are just as much to blame.
Where are the Austrians in this group? Nowhere to be found.
http://mises.org/freemarket_detail.aspx?control=418
Here’s another very good site that explains part of the serious problem we have with our political system.
http://www.ourcaucus.org
The site is not much to look at, but the videos are great. Take a moment and watch them.
well i dont believe for a second that being a trader makes me have to belong the the extreme right politically. i do this for financial gain, sure, but as a forex trader, i can profit from any move the market makes. i dont have to be pro big business and pro war to make money. or racist for that matter.
Garth. Not sure what you are responding to. I agree with your sentiments regarding profiting from price moves in either direction. What’s this about racism?