Obama's Economic Regulations Are Like a Law Which Makes Arson Illegal, But Exempts Convicted Ars

08/02/2009 • Washington;s Blog

Obama's regulation of credit default swaps leave loopholes large enough to drive the biggest trucks through. Specifically, it forces over-the-counter credit default swap transactions to be traded through an exchange unless it is a non-standard cds. So all that the "financial innovators" who melted down the economy have to do is get a little creative in drafting their cds' - or just to tell regulators "oh no, that wasn't a standard contract", and they are excepted from the regulation. Similarly, the Obama administration has just passed a new set of regulations "getting tough" on the naked short selling of stocks, which independent economists say can manipulate stock prices and bring down otherwise healthy companies. But the regulation will exempt hedge funds, and allow them to continue hiding their shorts from regulators.

1 Comments in Response to Obama's Economic Regulations Are Like a Law Which Makes Arson Illegal, But Exempts Convicted Ars

Comment by Lucky Red

Entered on: 8/2/2009 10:59:29 AM

"Obama's regulation of credit default swaps leave loopholes large enough to drive the biggest trucks through."

And quite by accident, I'm sure...

Well, for anybody that thinks that he is Communist... Oh, never mind, that! The ones that make such claims can't think, they have green feathers, live in cages and are fed crackers by their keepers.

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