Volckner: The Plan is Bad, encourages more risk

[Damocles]

http://abcnews.go.com/Business/obama-econ-adviser-volcker-doubts-presidents-plan/story?id=8661238

White House adviser Paul Volcker today criticized the Obama administration's sweeping financial regulatory reform proposals, specifically one that he warned could lead to future bailouts by designating certain firms as "too big to fail."

n testimony prepared for a hearing Thursday morning before the House Financial Services committee, the former Federal Reserve chairman expressed doubts about the administration's proposal to designate certain firms that pose a threat to financial stability, subject them to stricter supervision, and make them submit resolution plans in the event of failure.

More at link...

 

[Cancel5]

http://abcnews.go.com/Business/obama-econ-adviser-volcker-doubts-presidents-plan/story?id=8661238

White House adviser Paul Volcker today criticized the Obama administration's sweeping financial regulatory reform proposals, specifically one that he warned could lead to future bailouts by designating certain firms as "too big to fail."

n testimony prepared for a hearing Thursday morning before the House Financial Services committee, the former Federal Reserve chairman expressed doubts about the administration's proposal to designate certain firms that pose a threat to financial stability, subject them to stricter supervision, and make them submit resolution plans in the event of failure.

More at link...

I have to admit, it is starting to get me seriously depressed. Things are not looking any better and I don't think we should do another bail out, the idiots haven't changed a thing since the last bail out!

I don't know the answer, I don't understand enough about the economy to be able to know what is right, wrong, best or worst that this point.

I just wish we had bought more gold before it went so high!