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What’s The US Treasury Thinking?
By Rebel Traders on October 6, 2008 | More Posts By Rebel Traders | Author's WebsiteAre there any firing neurons at the the US Treasury? Ryan isn’t giving me any hope, and Paulson’s are gone, I’m sure.
TREASURY’S RYAN: LIQUIDITY PROBLEMS ARE AT THE HEART OF THE CURRENT CRISIS, CONFIDENT THE US WILL EMERGE FROM THE CRISIS WITH STRONGER MARKETS
- Policymakers have to use all of the tools at their disposal and create new tools in order to reckon with the crisis.
- Financial landscape will be very different after the turmoil settles, believes that certain structures and institutions will not survive.
- Recent events show that the US has a sub-optimal regulatory structure, comprehensive reform is required. Events also indicate that market discipline failed.
- The US is headed in the right direction to resolve the crisis, but plenty of work remains.
A liquidity crisis? Uh huh. “sub-optimal regulatory structure?” What the hell difference does it make to have even MORE regulations? Ask SEC Chair Cox how many regulations were overlooked. Ask the Senate Banking Committee how many regulations were discarded at will. Don’t tell me we need regulations!! We need men, BUSINESS men, to stand up to these government over-regulators and say “Get the hell out of my way!”
But, that’s just my humble, little opinion.
Posted in Categories: Contributor, Economy, Eurozone, External Research, USA.
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Copyright 2008 Grace Cheng Media Inc. 14 Wall Street 20 Fl, 10005 New York, New York
“Wall Street firms and other holders of the ‘toxic paper’ must be forced to recognize their losses, not hide them. The $700 Billion bail out package is nothing more than Hank Paulson helping Wall Street hide the losses.”
Your previous call for disclosure made sense, unfortunately I don’t see that happening without regulation, nor do I expect to see it become a regulatory requirement. Nobody can get to grips with reality while reality is kept concealed yet if that reality is actually a 30 trillion(?) time bomb- that boggles the mind too.
It does need a man of character, not more snake oil salesmen.