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View Diary: UPDATE 3: #OWS: Take this video VIRAL, NOW! (155 comments)

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  •  Because otherwise you will isolate yourself (1+ / 0-)
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    and lose those who are independents and on the right which are joining in on the movement.  Gain momentum and consensus for things that would be radical reform (like ending Federal Reserve) and have a chance of moving forward.

    •  dude... you cannot end the Federal Reserve (2+ / 0-)
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      trueblueliberal, Triscula

      you can reform it, but you can't end it. It's our central bank. And you would have us go back no FDIC?

      Reform is slow, but it's in the works:

      Volcker Rule May Cut Fixed Income Revenue 25%...

      The draft proposal, written by regulators including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corp., forbids market-makers who trade debt securities for customers from amassing positions “in expectation of future price appreciation,” Hintz, of Sanford C. Bernstein & Co., wrote today in a note to investors. “Thus flow trading may be prohibited.” Such a move would cut fixed-income revenue by 25 percent and reduce profit margins by 18 percent, Hintz estimated.

      Goldman Sachs Group Inc. and Morgan Stanley would be the most negatively affected if the rules were adopted because they are most dependent on fixed-income revenue, Hintz wrote. U.S. regulators are crafting guidelines to implement the so-called Volcker rule included in the Dodd-Frank legislation passed last year, which aims to prohibit deposit-taking banks from making speculative bets with their own money.


      “As bid-offer pricing narrowed, the Street increased risk- taking when facilitating client trades, which enabled them to respond quickly and profit from changing demand conditions,” Hintz wrote. “By deploying balance sheet to amass inventory ahead of demand, flow trading allowed the firms to partially offset the deteriorating economics in pure execution.”

      Bridge Closed: Republican Tax CUTS At Work

      You just gonna stand there and bleed
      Or you gonna do something about it?

      by bronte17 on Mon Oct 10, 2011 at 12:34:21 PM PDT

      [ Parent ]

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