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If you could afford the time to pay attention over the past few weeks, you could not help but come to the conclusion that the Dodd-Frank "FinReg" legislation is, at least for the near-term, D.O.A.

Even Elizabeth Warren is beginning to voice concerns (see farther down, below) about delays in setting-up the Consumer Financial Protection Bureau.

For all intents and purposes, IMHO--at least for the foreseeable future, due to crystal clear efforts now underway regarding the implementation of an age-old, status quo strategy frequently invoked behind the scenes on Capitol Hill to quietly eviscerate legislation which doesn't meet with the favor of our country's power elite by (simply) defunding it--the Dodd-Frank "FinReg" legislation has now all but officially morphed into little more than a pathetic joke.

Very regrettably for Main Street, and based upon the self-evident actions of an administration that's now shamelessly cozying-up to Wall Street in public, it would appear that this is politically acceptable.

Apparently, as "we" are told, there are trillions of dollars available to backstop and bailout Wall Street, but we're now being put on notice that there's no money available to upgrade the regulatory supervision of it. It is, perhaps, the ultimate Catch-22, crock of sh*t in a federal government that is totally controlled by the top 10% of its citizens (the folks that conveniently own 98.5% of all financial securities).

According to D.C., we simply must let Wall Street do what they wish.

The adequate staffing and funding of the new Consumer Financial Protection Bureau (CFPB)...under direct frontal attack.

The enforcement upgrades to the Securities and Exchange Commission (SEC)...D.O.A.

The increased staffing effort over at the Commodities Futures and Trading Commission (CFTC)...D.O.A.

And, so on and so forth...forevermore. "More" for Wall Street, that is.

From David Dayen ("Dday") over at FDL, yesterday:

Regulators Falling Behind on Implementing Obama Policies
By: David Dayen Wednesday January 19, 2011 10:10 am

...I sense a pattern here. Administration announces policy. One side or the other goes ballistic. Administration backtracks and assures people that policy won't really change much of anything. People who supported initial policy go ballistic. Rinse. Repeat.


...It's clear that the regulatory agencies don't have the funds or manpower to implement health care and financial reform right now, and as a result the laws will not even reach the modest goals laid out when passed in Congress...

Dday continues on to tell us major funding problems creating massive delays in implementation of various aspects of Dodd-Frank at the SEC and the CFTC.

This isn't about regulators having to "work harder," although Congress did put an enormous burden on them to implement Dodd-Frank and basically write the entire law. The point is that they don't have the funds to hire adequate staff, and because there was no self-execution of funds inside Dodd-Frank, they're relying on appropriations from a Republican House to get the funds necessary to implement a law House Republicans oppose. And it's the same thing with health care.

Adding extreme insult to scores of millions financially devastated and/or injured on Main Street, we're now reading  words of advice to Congress from the President's new business ally, U.S. Chamber of Commerce President Tom Donohue, as he proposes to "starve to death financially" the new Consumer Financial Protection Bureau.

Luckily (maybe not "luckily;" we shall see, since economist Simon Johnson pointed out, just 11 days ago: New White House Chief of Staff Bill "Daley is on the record as opposing strong consumer protection for financial products...") as Dayen notes in his article update...

The CFPB is one of the few agencies whose money is relatively protected -- they get a percentage of the Fed budget ...

Then again, as recently as three weeks ago, even Elizabeth Warren voiced her concerns about problems over at the CFPB, too: "New Consumer Agency Is Frightfully Necessary -- And Late."

I'd agree. I'd even go as far as to say that--when the Federal Reserve is responsible for funding the Consumer Financial Protection Bureau, while the Fed simultaneously goes all out to undermine the Truth In Lending Act ("TILA")--Elizabeth Warren's concerns about problems at the new CFPB may be even greater than she (or David Dayen) realizes!

#            #            #
Gjohnsit has an excellent diary on the Rec List right now: "Food Riots and Man-Made Famine 2011." In it, he explains how, in recent days and weeks, food riots and man-made famine have taken hold in countries throughout the globe. Ultimately, he reaches this conclusion...

The people who are pouring money into commodities are indeed speculators, but they are only doing the logical thing in a broken financial system. The real criminals here aren't the speculators. After all, no one complained about speculators when equity and house prices were going up.

The real criminals are the politicians and central bankers who refused to fix the financial system with real reforms after the 2008 crisis.

(Bold type is diarist's emphasis.)

Spot-on gjohnsit. Spot-on!

Originally posted to on Thu Jan 20, 2011 at 11:44 AM PST.

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Comment Preferences

  •  Tip Jar (19+ / 0-)

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Thu Jan 20, 2011 at 11:50:11 AM PST

    •  the important economic news (1+ / 0-)
      Recommended by:

      U.S. manufacturing, viewed as a lost cause by many Americans, has begun creating more jobs than it eliminates for the first time in more than a decade.

      As the economy recovered and big companies began upgrading old factories or building new ones, the number of manufacturing jobs in the U.S. last year grew 1.2%, or 136,000, the first increase since 1997, government data show. That total will grow again this year, according to economists at IHS Global Insight and Moody’s Analytics...

      And then there is

      Goldman Sachs Group Inc.'s profit slide of 52% in the fourth quarter showed the securities giant's size and swagger aren't enough for it to escape the tightening squeeze of a regulatory overhaul and jittery clients and investors.

      And Elizabeth Warren didn't get the memo

      Jan. 4 (Bloomberg) -- Elizabeth Warren, the White House adviser assigned to set up a U.S. consumer financial-protection bureau, plans to share information with state supervisors to streamline oversight of non-bank firms such as payday lenders.

      The bureau will exchange information about banks and non- bank financial companies normally examined by state regulators under a memorandum of understanding announced today by the U.S. Treasury Department, which is housing the agency until it begins operation in July.

      SAN ANTONIO (Dow Jones)--Reports that J.P. Morgan Chase & Co. (JPM) has overcharged military families for mortgages "emphasizes why we need a consumer protection bureau," White House adviser Elizabeth Warren said Tuesday at San Antonio's Lackland Air Force Base.

      Warren, who is in charge of setting up the new Consumer Financial Protection Bureau, is visiting the base to discuss financial issues with members of the military along with the bureau's new high-profile military liaison, Holly Petraeus.

      The meeting comes amid an NBC News report Monday that J.P. Morgan overcharged thousands of families on their mortgages. J.P. Morgan wasn't immediately available for comment, but in a statement to NBC News, it acknowledged that it had "made mistakes" and was fixing them.

      Meanwhile, in a morning meeting, financial counselors at Lackland told Warren and Petraeus that payday loans are a significant problem for service members because they push members of the military into debt traps that affect their ability to serve.

      Some counselors said loopholes in federal law enable companies to charge military families excessive interest rates despite a law that caps rates for consumer credit to active-duty military personnel at 36%. That is "certainly something we're going to be investigating," Warren told reporters after the meeting.

      She said the bureau's first step will be to make sure laws currently on the books are fully enforced. Then, the bureau can see if there are still significant problems that need to be addressed, she said.


      •  And I was just wondering, what kind of (2+ / 2-)
        Recommended by:
        disrael, bobswern
        Hidden by:
        citizen k, Geekesque

        idiot believes the spin the Wall Street journal is putting out.

        You're always there to answer the important questions.

        "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

        by JesseCW on Thu Jan 20, 2011 at 01:17:12 PM PST

        [ Parent ]

        •  show up with a personal insult - get HR n/t (0+ / 0-)
          •  That's an out-of-bounds h.r., IMHO... (2+ / 0-)
            Recommended by:
            emal, JesseCW
            ...I'm rec'ing the h.r.'ed comment in response to this truth.

            "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

            by bobswern on Thu Jan 20, 2011 at 01:30:58 PM PST

            [ Parent ]

          •  You're well aware that's HR abuse (1+ / 0-)
            Recommended by:

            But you've made clear again and agian that you believe your low UID exempts you from the rules.

            I'm pretty sure Meteor Blades has told you in the past not to use HR's for retaliation.

            "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

            by JesseCW on Thu Jan 20, 2011 at 01:55:55 PM PST

            [ Parent ]

            •  as i underswtand (0+ / 0-)

              that's not retaliation. You neither HR'd me nor were enaged in a dispute. MB told me that HRs to fly by personal insults were ok. Of course, the rules are subject to arbitrary change so he may take this as an opportunity to get rid of my inconvenient opinions.
              Who knows?

              But thanks for dropping by to call me an idiot without even the slightest pretense of associating your insults with some content.

              •  I don't think you believe in your own post (2+ / 1-)
                Recommended by:
                emal, JesseCW
                Hidden by:

                begun creating more jobs than it eliminates for the first time in more than a decade

                That's certainly not intended to convince anyone of anything.


                Goldman Sachs Group Inc.'s profit slide of 52% in the fourth quarter

                - these people should be in jail.  Put in context

                Net profit fell 52% to $2.39 billion in the quarter from $4.95 billion a year earlier, while revenue declined 10% to $8.64 billion.

                that they are still profiting that much during a depression they helped cause - please.

                You are clearly trolling citizen k and staying right on the boundary of acceptable proves nothing.

                •  fuck off with your "troll" accusation (0+ / 1-)
                  Recommended by:
                  Hidden by:

                  I know that dissent is painful to some people, but that's a character flaw, not something to be proud of.

                  •  We are the ones dissenting (1+ / 0-)
                    Recommended by:

                    and you are the one with the character flaw.  BTW does MB think I can HR you for telling me to fuck off?

                    •  you went to "trolling" (1+ / 0-)
                      Recommended by:

                      so I'm not too concerned about your tender feelings.
                      Of course you are not dissenting, you are joining into Bob's little chorus of despair despite the facts that I presented. Thankfully, Elizabeth Warren does not subscribe to the opinion that wailing "it's hopeless" in the doom choir is the epitome of Reform politics.

                      •  Bob's chorus is a tiny voice of sanity (1+ / 0-)
                        Recommended by:

                        in a world of callous disregard.  And yes it's not my feelings you are hurting just the future of this country and the well being of our children.

                        •  sanity requires some respect for reality (1+ / 0-)
                          Recommended by:

                          and in reality, FinReg is having effects.

                          •  If you mean that instead of going to jail (1+ / 0-)
                            Recommended by:

                            bad guys get rich while everyone looks the other way then yes I have to agree with you that FinReg is having effects.  We have plenty of proof of that effect and you have absolutely no proof of any other effect.  But sure since you are probably well off and don't give a shit - reality is to you what it is.

                          •  maybe you need a book on US history (1+ / 0-)
                            Recommended by:

                            look up Vanderbilt, Morgan, Carnegie, Rockefeller, Mellon, for example. These are people who have libraries, museums, streets, hospitals and museums named for them, their children's grandchildren are wealthy beyond belief, and they were crooks and even open murderers. If your expectation of FinReg was that it would unseat unfairness and upend capitalism, you were sadly mistaken. For those of us who just hoped for some reforms, things look at lot better.

                          •  Maybe you need that book (1+ / 0-)
                            Recommended by:

                            Hafiz Naseem, Michael Milken, Ivan Boesky, Charles Keating, Andy Fastow, Jeff Skilling, Bernie Ebbers, John J. Rigas, Dennis Kozlowski, Mark H. Swartz, Bert Fingerhut, Eugene Plotkin, ...

                            Do you even remember the 1990s?  

                            According to some of its records, between 1990 and 1995 no less than 1,852 S&L officials were prosecuted, and 1,072 placed behind bars. Another 2,558 bankers were also jailed, often for offenses which were S&L-linked too.

                            You didn't hope for reforms you hoped for a whole new system of justice where burglars are caught before they commit crimes.  That's just insane - did you know that in most states police are not even held responsible for stopping crimes in progress?  It's crime and punishment not reform and discourage.

                          •  small timers (0+ / 0-)

                            except for Milken who spent 2 years playing tennis and kept the money. Even Keating eventually had his convictions overturned. If that's the kind of fakery that turns you on, if the vast ripoff of the taxpayers under Reagan's S&L bailout makes you happy, then you must enjoy being bamboozled.

                          •  I.e. too big too fail in effect (2+ / 0-)
                            Recommended by:
                            JesseCW, leaf123

                            You are saying S&L people could go to jail because they were not powerful enough.  Then you and Bob are pretty much in agreement except you prefer to look at FinReg through a microscope and declare the tiny movements you see there as victory.

                          •  they are not tiny movements (1+ / 0-)
                            Recommended by:

                            they are just not a revolution. If you want to make the case that capitalism must be overthrown etc. , then make it. But that's not the game played in US elections or politics - the debate there is over reforms at most. So when people want to express shock and dismay that Barack Obama elected as a centrist reformer to serve inside a system constructed specifically to prevent radical changes, has not overthrown the system in which a man like Rockefeller could order union members machine gunned and get away with it, I kind of wonder what they think is going on. The US has a system in which vast private wealth buys a lot of power. That system was never in danger in the last 60 years. What FinReg was supposed to do was produce elements of fairness and some methods of moderating bank panics and it seems to be a success on those grounds.

                            The world is grossly unfair. Some people, like Dorothy Day take radical action to change it. But those of us who are willing to take part in a flawed and often cruel system and to participate in the highly limited methods for change in it, have to expect slow and imperfect results. If your argument was that only popular insurrection and revolution could accomplish something, you'd have at least a coherent program. But to cry doom and defeat because a process within the system is slow and incremental, at best, seems nutty to me.

                          •  Slow and incremental? (1+ / 0-)
                            Recommended by:

                            There is nothing slow and incremental here - in the last banking financial crisis lots of people went to jail.  In this case not one single person went to jail though the crisis was a 100 times larger.  Declaring we need a revolution just to get back to where we were in the 1990s might be true but in no way supports your point that FinReg accomplished anything.

                            Are referring to the Ludlow Massacre

                            The Ludlow Massacre was a watershed moment in American labor relations. Historian Howard Zinn has described the Ludlow Massacre as "the culminating act of perhaps the most violent struggle between corporate power and laboring men in American history". Congress responded to public outcry by directing the House Committee on Mines and Mining to investigate the incident. Its report, published in 1915, was influential in promoting child labor laws and an eight-hour work day.

                            and thinking that FinReg has gotten us reforms like promoting child labor laws and an eight-hour work day?!?!  Just what little tiny bit of American history are you using as justification for rolling over and begging your corporate masters for an increment in the right direction?

                          •  in the last banking crisis (1+ / 0-)
                            Recommended by:

                            nobody important served time, the system of thrifts established to decentralize banking was turned over to bigger banks, and the treasury was looted more than in the current crisis, and in the aftermath, banking regulations were weakened.

                            FinReg is a direction changer and Elizabeth Warren is going after the pay day loan scammers who really sprang up as industrial size thieves after the S&L crisis.

                            Ludlow was 1914. Child labor was finally abolished in 1938.

                            And the kind of bullshit macho posturing you exhibit here is really tedious. The people at the top are really sweating your angry blog posts! The question is whether you want to get things done or whether you want to stamp your feet and sneer at people who do get things done. If Elizabeth Warren protects people from pay day loan scams she will have done 100000000 times more good than all the doom criers on Dkos, that's for sure.

                          •  Yes so you are happy going (2+ / 0-)
                            Recommended by:
                            JesseCW, leaf123

                            from a system where at least some people go to jail and we are looted to one in which no one goes to jail and we are looted.  Protecting people from pay day loan scams is not in anyway going to restore law and order in a market where the looting and policy warping is continuing and basically destroying our society.

                            I don't know what you think you are getting done but what you are actually getting done is trying to throw water on anyone rightfully angry with the way things are going.  A growing anger would accomplish a lot more than anything Warren is doing.

                          •  so if you could just fulminate (0+ / 0-)

                            without my interference, your righteous anger would change the world, eh?

                          •  So if you could just cheer in peace (0+ / 0-)

                            undisturbed by diaries like this your great incremental tide of change would sweep over the land?  No thanks I think I will put my hope in fulminating.

                          •  they don't disturb me at all (1+ / 0-)
                            Recommended by:

                            I just want to be sure that people who read them can get some actual information too.

                          •  This is the good news you preach? (1+ / 0-)
                            Recommended by:

                            The economists' projections for this year—calling for a gain of about 2.5%, or 330,000 manufacturing jobs—won't come close to making up for the nearly six million lost since 1997. But manufacturing should be at least a modest contributor to total U.S. employment in the next couple of years, these economists say.

                            and that Goldman only made $2.39 billion in the quarter?

                            Big Lenders May Lose With Simpler Mortgage Disclosure ????????

                            Simpler disclosure - this is your solution after $2 trillion is stolen?  More of this bullshit it was the consumers fault so we will just make it simpler for those dumb asses.  No it has nothing to do with consumers the banks fraudulently created this bubble and then got the government to bail them out.

                            Yes I've got your point its a big bad world and any teeny tiny little good step taken should be met with hosannas.  Like if the Romans crucify hundreds and then on some holidays let a few prisoners free we should all be happy.  It's just nonsense.  Be happy if you want but recycling WSJ articles for us is not any kind of a service you are providing.  Put your factual propaganda in your own diaries and leave us alone.

                          •  yes, no magic tricks (1+ / 0-)
                            Recommended by:

                            We have a situation where manufacturing has been in free-fall for decades, so a change in direction is very significant.

                            Of course, you're free to skip all the baby steps and bring the masses out onto the streets. I'll be checking the news.

                          •  You like history so show me any example (0+ / 0-)

                            of this baby steps thing working out.  All you will actually find is the opposite - we can be slowly cut to shreds by rich plutocrats but progress has always required the masses.  If you are not willing to educate and fulminate then you are just waiting around for the next big money sponsored leg down.  We don't need the masses on the streets necessarily but people have to generally understand the situation.  Bob's diaries help; your comments do not.  There is no point checking the news while you are actively working in the opposite direction with the STFU tactics.

                          •  you're going to rally the masses (2+ / 0-)
                            Recommended by:
                            SouthernBelleNC49, leaf123

                            by explaining that it's hopeless in Dkos diaries? Wow.

                            So if you want examples, they are easy to find. There's the struggle for the 8 hour day - took a century. The battle for basic civil rights: still going on, but the weak 1957 civil rights act preceded the stronger one in 1964. In order to engage people in such long struggles, they need to be able to see results and get a sense that something as weak as a seat on a bus might lead to voting rights.

                            To me, what is preached here is angry helplessness.

                          •  Examples that don't involve the masses (1+ / 0-)
                            Recommended by:

                            Examples of top down elite incrementalism working.  There are no such examples - the 8 hour day and civil rights came from grass roots activism.  How long it took to get there is not the point - length != incremental.  Each victory came from the work of educated large groups of people.  Each victory was clearly a victory and not some sack of shit distraction.  The seat on the bus is itself a mass protest following activist deaths and led to tangible reform.  I think you are deliberately not understanding.

                          •  Sorry for not conforming to your stereotype (0+ / 0-)

                            but my theory is that it is essential to engage large numbers of people in the political struggle in order to get much done. Those people showed up in 2008 for the election, and many showed up to win Health care. and now need to gear up for more efforts. Unfortunately, for two years, people like you and Bob have been screaming at them to give up and expect only failure. You've portrayed every win as defeat and every detour as a catastrophe. It's almost as if you were deliberately working to try to create apathy and inactivity.

                          •  Nuh uh you don't "gear up" (0+ / 0-)

                            You come out for protest and stay out.  The reason we can't get that kind of activity out of Americans is not because the situation isn't dire its because they don't understand what is happening.  They've been told the economy is mending and they believe it.  They've been told the banks are under control and they believe it.  They've even been told we can export our way back to health without strong unions and protections employed by other countries - of course no one is going to believe that.

                            Americans have also been told the problem is that we are not smart enough.  The blame has been spread just about everywhere but the economic policies that caused this mess.  You want to not conform to my stereotype then admit that neo-liberalism can't work and that more neo-liberal White House advisors is not going to help anything - the country, reelection, moral - nothing.  As you say

                            prosperity will come from a vibrant economy in which there are good paying jobs in green manufacturing and there are a lot of other steps to be taken to get us there. And one of those steps is to stop thinking that housing bubbles can save the day.

                            Have you not made the connection between the rise of the FIRE nation and lack of trade regulation?  Any FinReg that doesn't put people in jail and doesn't curb the trade deficit is just going to keep the ever increasing debt sloshing around the country until the next, and greater, crisis.  Convince people out on the streets to break the bankers power or don't expect any manufacturing come back - without trade regulation and unions there are no "green shoots".  Thinking so is not going to accomplish gear up - its just turning hope into a weapon against us.

                •  HRed for accusing CK of being a troll (2+ / 0-)
                  Recommended by:
                  Lawnguylander, SouthernBelleNC49

                  What CK has written is both factual and consistent with his writings in the past. Your accusation has no basis in fact nor do you supply a satisfactory supporting argument.

                  One night in Bangkok makes a hard man humble ... Murray Head

                  by virginislandsguy on Thu Jan 20, 2011 at 07:04:54 PM PST

                  [ Parent ]

                  •  trolling here not equal being a troll in general (1+ / 0-)
                    Recommended by:

                    His comment here is purely inflammatory and deliberately adding no value to our discourse.  His statements are factual but the conclusions he draws are not.  His non-factual conclusions are purely put there to badger people as are most of the rest of his comments.

                  •  For someone whom I've noted... (1+ / 0-)
                    Recommended by:
                    ...posts derogatory comments about me, both behind my back in this community (in other diaries), as well as in comments in other diaries on other blogs, I find your behavior in my diaries--on an ongoing basis--to be quite offensive. Downright deceptive, even. (Just thought you'd like to know. i.e.: By the way, any pretense at sincere participation in discussion in my diaries is undermined by this obfuscated, over-arching truth.)

                    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

                    by bobswern on Thu Jan 20, 2011 at 08:59:53 PM PST

                    [ Parent ]

                    •  Your comment does not address (2+ / 0-)
                      Recommended by:
                      SouthernBelleNC49, DollyMadison

                      my HR and defense of it. But, what the hell, I'll address it point-by-point.

                      You write

                      posts derogatory comments about me, both behind my back in this community (in other diaries)

                      Heck, I write derogatory comments about your Doom and Gloom outlook in your Diaries, nothing sneaky there. News to me that comments about other users, when on topic, is verboten here on Dkos. On the other hand, as you well know, I have recced you when I have agreed with you, so let's be even-handed here.

                      In regards to this

                      as well as in comments in other diaries on other blogs

                      such is the price of fame, or infamy. But let's look at those comments:

                      Her [Badabing] main claim to RecList fame was economics, somewhat as a compliment to bobswern and together they were the anti-Bonddad. What they had in common was an antipathy to Pres. Obama (and of course Geithner-Summers) and an extreme fondness for HuffPo, NakedCapitalism and ZeroHedge.


                      He [Guy T. Saperstein] seems to have that DKos bobswern, ZeroHedge, NakedCapitalism mojo going which asserts that the Obama Administration is in bed with the Banksters.

                      Anti-Bonddad  -  check
                      Antipathy to Pres. Obama, Geithner and Summers  - check, check, check
                      Fondness for HuffPo, NakedCapitalism, ZeroHedge - check, check, check. Heck, you have Yves Smiths permission to post full articles.
                      Obama Administration in bed with the Banksters - check. This is the main topic of nearly all of your Diaries.

                      Also keep in mind that the blog you referred to has many present and former Dkos members and writing about Diarists there is a normal occurrence. In addition, there have been 4 comments independent of mine referencing you in the last 5 months. If anything, you should be flattered that your fame extends beyond DK.

                      One night in Bangkok makes a hard man humble ... Murray Head

                      by virginislandsguy on Thu Jan 20, 2011 at 10:51:39 PM PST

                      [ Parent ]

              •  MB told you that it was ok to HR (0+ / 0-)

                responses made directly to you?


                'Cause....that's not the way the rules work, and hasn't been for as long as I've been here.

                "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

                by JesseCW on Thu Jan 20, 2011 at 02:18:26 PM PST

                [ Parent ]

                •  of course (0+ / 0-)

                  otherwise people with no actual points to make would clog the pages with witticisms like "idiot"

                  •  I'm not at all suprised that you missed the point (0+ / 0-)

                    But that's not really what this conversation is about.

                    You're abusing HR's.  You've been told repeatedly that you're not to HR comments made in response to you.

                    You think claim that you're an exception to the rules, because you're awesome and empowered to declare what are and are not "fly by" response to your comments.

                    You long standing contention that you are above the rules is made again, and is once again made in error.

                    "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

                    by JesseCW on Thu Jan 20, 2011 at 02:28:57 PM PST

                    [ Parent ]

                    •  if being bitter and resentful (0+ / 0-)

                      was an art form, I'm sure your posts would merit a place in the Met. But, that not being the case, they seem like just an effort to make it so unpleasant to post here that anyone not sharing your sour point-of-view will find a less repulsive venue.

                      •  That you have nothing of value to *anyone* to (0+ / 0-)

                        add to this site isn't at all my fault, and I really don't understand why you insist on lashing out at me in your anger about this communities rejection of your extreme right wing views.

                        "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

                        by JesseCW on Fri Jan 21, 2011 at 12:05:26 AM PST

                        [ Parent ]

                        •  the commissar mentality in a pure form (1+ / 0-)
                          Recommended by:

                          Of course, my views are "extreme right wing" in the same way that President Obama's views are communism. What you seek to do here is to label dissent as something outside the bounds of discourse. To me, as to many other people, reversing the decline in manufacturing employment is a enormously significant event. Furthermore, I am far more interested in laws that protect working class Americans from payday lender scams and complex mortgages with hidden provisions than the abstract reformers here who appear to not actually care about real people. And, finally, a halving of GS profits indicates to me that the financial reforms are working in the intent of starting to downsize the fiscal sector. You're of course free to call me an idiot for accepting what is basically a Labor Democrat political platform, but your attempts to label this platform as "right wing" are fraud and attempted bullying (although it's kind of like when a pekinese tries to intimidate).

              •  Yes, HRing insults is perfectly OK... (3+ / 0-)
                Recommended by:
                SallyCat, Geekesque, bobswern

                ...when done by users OTHER THAN the user who has been insulted. The user who has been insulted should not HR the insulter. Just for the record, that's not, as you insinuate, an arbitrarily changed rule designed especially for you but a long-standing rule that is an extrapolation of the rule about not HRing people with whom you are in a dispute.

                Don't tell me what you believe. Tell me what you do and I'll tell you what you believe.

                by Meteor Blades on Thu Jan 20, 2011 at 06:08:37 PM PST

                [ Parent ]

                •  but I asked you this specifically (1+ / 0-)
                  Recommended by:

                  and, of course, there was no dispute, just a fly-in insult. It's not as if there was any attempt to engage in a discussion just a yell of "idiot".

                  •  I'm not arguing that the comment saying... (2+ / 0-)
                    Recommended by:
                    SallyCat, Geekesque

           are an idiot was appropriate. Calling people names is HRable. But, as I have said at least 200 times in the past 19 months, it's not HRable by the person being called a name.  

                    Don't tell me what you believe. Tell me what you do and I'll tell you what you believe.

                    by Meteor Blades on Thu Jan 20, 2011 at 09:30:01 PM PST

                    [ Parent ]

                    •  that's not what you wrote to me (0+ / 0-)

                      but "extrapolate" your rules how you like. I wrote a perfectly polite, link filled, on topic comment and got a fly by insult, soon followed by another one, and the violation of site rules is that I rated the insult hideable.

                      Great. Good system for producing what you have here.

                  •  Your (0+ / 0-)

                    "content" was insulted.

                    I appologize if it was done in a somewhat complicated manner.

                    Because I firmly believe that you're entirely sincere in your claims that this was beyond your ability to understand...and your behavior in this thread has highlighted your principled objection to personal attacks and your own choice not to engage in them.

                    "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

                    by JesseCW on Fri Jan 21, 2011 at 12:08:01 AM PST

                    [ Parent ]

                  •  And you continue to insist that you do not (1+ / 0-)
                    Recommended by:

                    need to follow the rules, leaving the HR in place after you've been told it was out of bounds.

                    Because you're special, and the rules don't apply to you.

                    "It is wrong to urge an individual to cease his efforts to gain his basic constitutional rights because the quest may precipitate violence"

                    by JesseCW on Fri Jan 21, 2011 at 12:09:43 AM PST

                    [ Parent ]

                •  The upraters should be addressed too, correct? nt (3+ / 0-)
                  Recommended by:
                  SallyCat, foufou, DollyMadison

                  "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                  by Geekesque on Fri Jan 21, 2011 at 11:29:41 AM PST

                  [ Parent ]

        •  I am also recing (2+ / 1-)
          Recommended by:
          JesseCW, leaf123
          Hidden by:

          Given the discussion I am having below about basic concepts of law and order it is very reasonable to question citizen k's intelligence on matters political.

      •  and more (1+ / 0-)
        Recommended by:

        The new federal consumer watchdog, in a long awaited move, is teaming up with state regulators to oversee the lending industry, including payday lenders, student loan providers and mortgage companies.

        Elizabeth Warren, the Harvard University law professor who is setting up the Consumer Financial Protection Bureau, announced an agreement on Tuesday to streamline supervision of these industries with the Conference of State Banking Supervisors.

        "The new consumer financial agency and the state banking regulators are forging an alliance to protect American families," Ms. Warren said in a speech in Washington on Tuesday. "This agreement allows us to bring thousands of financial service providers out of the shadows and to begin the process of ensuring that all lenders comply with the same basic rules."


        Big Lenders May Lose With Simpler Mortgage Disclosure

        but I will now let you return to the regularly scheduled doom& despair.

        •  Again, your comments do not... (2+ / 0-)
          Recommended by:
          emal, nchristine
          ...refute the truths in my diary about the CFPB. If anything, they further demonstrate that, at least for now, the CFPB must work the states' enforcement networks rather than rely upon their internal resources...which either don't exist yet, are late, or may never exist at all.

          "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

          by bobswern on Thu Jan 20, 2011 at 01:36:04 PM PST

          [ Parent ]

      •  Irrelevance, writ large... (1+ / 0-)
        Recommended by:
        1.) Do you have a clue how many manufacturing jobs would have to be created just to clawback the past decade's losses in that sector (which now accounts for less than 20% of our overall workforce)?

        2.) Goldman-Sachs will be paying near-record (not quite, but not far off) bonuses to its 475 partners this year.

        3.) The comment on Warren is completely unrelated to the information in my diary. It's about her communications with STATE regulators, and has virtually nothing to do with the CFPB.

        4.) As my article notes, enforcement funds are being curtailed at virtually all government agencies. How will Warren enforce anything? The fact that the Fed is working in diametric opposition--in many instances--to the stated purposes of the new CFPB is already noted in my diary.

        The reality that Chamber President Donohue, and President Obama's new political "ally," is going for the CFPB's jugular (funding) was also duly noted in my diary.

        The fact that Jamie Dimon's (JP Morgan's CEO) righthand man--on record as being vehemently opposed to the CFPB--is now COS at 1600 Pennsylvania Ave., speaks for itself.

        Tell me, what is pertinent to my diary in all of this wallpaper that you put in your comment? Looks like a lot of diversionary info, frankly?

        "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

        by bobswern on Thu Jan 20, 2011 at 01:28:33 PM PST

        [ Parent ]

        •  in that welter of nonsense (1+ / 0-)
          Recommended by:

          one thing stands out because it is so illustrative of the method

          The fact that Jamie Dimon's (JP Morgan's CEO) righthand man--on record as being vehemently opposed to the CFPB--is now COS at 1600 Pennsylvania Ave., speaks for itself.

          is based entirely on this:

          But when White House Chief of Staff Rahm Emanuel called a top J.P. Morgan executive to ask for the bank's support in creating a new consumer-protection agency, the executive--former Commerce Secretary William Daley--said no, according to people familiar with the conversation. His boss believed that sufficient consumer safeguards were already on the books.

          And if you want to argue that Warren's agreement with State regulators about how the CFPB will regulate non-bank lenders has nothing to do with the CFBP, go ahead - that's not more absurd than the rest of what you have to say.

      •  Terrific poo-flinging thread. (1+ / 0-)
        Recommended by:

        And it's going to Top Comments. Thanks.

        •  well... this one certainly taught the lesson (0+ / 0-)

          of which you wrote.

          <div style="color: #a00000;"> Our... constitutional heritage rebels at the thought of giving government the power to control men's minds. Thurgood Marshal

          by bronte17 on Fri Jan 21, 2011 at 07:40:50 PM PST

          [ Parent ]

  •  I'm not sure it was ever really alive (7+ / 0-)

    "Trillion-Dollar Banks Could Get Bigger Under Financial Overhaul Law"

    The nation's four biggest banks can grow even bigger, with the potential to add at least another trillion dollars onto their balance sheets before they even reach the limits imposed by the Obama administration, according to an administration study released Tuesday.

    Dodd-Frank, the 2010 law overhauling financial regulations, calls for regulators to impose a ten percent cap on individual financial firms' liabilities relative to the entire system. The rule is intended to prevent lenders from becoming so large that their collapse would threaten the health of the broader financial system.

    So not only did Obama kill Brown-Kaufman, which would've broken up the banks, his "reform" package allowed them to even more monstrous.

  •  Barney Frank & Chris Dodd (9+ / 0-)

    are wholly owned by the Wall Street thieves.

    Their "reform" of Wall Street was as fraudulent as the way the Big Banksters made their ill-gotten record profits selling AAA-fraudulently rated trash as though it was treasure.

    Reinstating Glass-Steagall was the no-brainer way to go.

  •  it was reform in name only (4+ / 0-)
    Recommended by:
    emal, david mizner, bobswern, JesseCW

    only reform was the bs "reform" in its title.

    Even Warren, bless her heart, is only limited in what she could do even if she wanted to.  I really think we are past the piont where larger fine print is going to fix anything.  

    Bad is never good until worse happens

    by dark daze on Thu Jan 20, 2011 at 12:05:12 PM PST

  •  Financial reform is a dud?!! (2+ / 0-)
    Recommended by:
    bobswern, JesseCW

  •  Just like that other centerpiecel HCR. (1+ / 0-)
    Recommended by:

    Designed precisely to fail and that is what is happening.

    Right now I wouldn't trust Obama to run for dogcatcher.  And if he, and the Democrats, like raise-the-age-Durbin, cripple SS, I probably will never vote for another Democrat in my lifetime.

    Distrust of authority should be the first civic duty. - Norman Douglas

    by Fossil on Thu Jan 20, 2011 at 02:12:27 PM PST

  •  Until we have a real financial collapse this will (0+ / 0-)

    be par for the course. People don't realize how serious it is right now but they will find out soon enough.

    "A mind is a terrible thing"- Glenn Beck's followers

    by buckshot face on Thu Jan 20, 2011 at 04:24:17 PM PST

  •  O brave new world!...or not... (0+ / 0-)

    more like - it is a tale. Told by an idiot, full of sound and fury, Signifying nothing... Much like our leadership IMHO.

    New improved bipartisanship! Now comes in a convenient suppository!!! -unbozo

    by Unbozo on Thu Jan 20, 2011 at 04:36:48 PM PST

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