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22
Jul
Is Obama Burning Bridges on Wall Street?
In this segment, Mark addresses the difference between suitability standards and fiduciary responsibility. What are your thoughts? Comment below.
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July 22nd, 2010 at 11:45 am
WOW … Erica Payne is just unbelievable!!! At an eye-glazing 390,000 words — half the size of the King James Bible — the legislation doesn’t go far enough! Do you think she read it? Mark was right on … It will take years to resolve. The result will be over 5,000 pages of new regulations and years of uncertainty as to what the massive new rules will mean.
July 22nd, 2010 at 4:14 pm
Mark, I’m not even sure the fiduciary issue is going to be good. Can a broker do what is in an investor’s best interest? How can someone who has been mainly taught how to sell products do what is best for the end investor? The only solution is to further water down what it means to be a fiduciary.
July 22nd, 2010 at 4:48 pm
When you deal with someone whose basic belief is that government can be the solution i.e. Erica, you are dealing with a bad thinker. You can’t win a discussion with a bad thinker but Mark you got your points across. Good Show!
July 22nd, 2010 at 6:46 pm
Wow1 someone called out Barney and Chris! These guys have dome more damage the economy than Fannie, Freddie combined!
http://www.johnpollock.tv
July 23rd, 2010 at 7:44 am
The bottom line is that the taxpayer, the small investor, will lose in the end with this bill. The president is only “riding herd” on the taxpayer and business. How about the government enforce the rules that were already on the books and begin an investigation of Frank,Schumer and Dodd, and anyone who accepted money from Fannie, or who was involved in pushing the risky lending practices in the first place. Erica’s premises are ridiculous and faulty.
July 23rd, 2010 at 8:26 am
As in everything the Obama administration does, this bill does NOT address the cause of the problem. If they did, lawmakers would have to admit their failed policy, and how they were personally complicit in creating the problem.
So the law is not about avoiding a future financial catastrophe, it’s all about expanding GOVERNMENT and expanding GOVERNMENT control thereby infringing on our freedom and liberties.
It’s been said that democracy is like two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote.
Write your senators and congressman, and be sure to vote in the upcoming elections.
July 23rd, 2010 at 10:02 am
Hey Mark, you tried but it seems as if each guest had their own agenda in this interview. Erica’s dispute of your point about the banks paying the money back is really taken out of context because they also made a lot of money from the low interest loans.
I agree that the free markets weren’t allowed to work and as long as we continue to subsidize the markets they will falter.
When the likes of Barney Frank and Chris Dodd are gone, who are pure career politicians and we get people in congress and the senate who are more centered around business and the free markets we will have at least a chance of letting the economy fix itself like free markets always do.
July 23rd, 2010 at 10:28 am
Since when does the federal government do a good job at fixing anything when they are usually the cause of the problem in the first place?
July 23rd, 2010 at 11:38 am
Liberals will never admit that their policies don’t achieve their stated objectives. Their defense is always the same: the government regulations didn’t go far enough. This new legislation will cost the private sector trillions of dollars over its life, keep thousands of lawyers and lobbyists employed and reduce the freedom of businesses and individuals to make decisions without government interference.
Erica may talk like a businessperson, but she’s pure politics. You can’t be your normal polite self with her. Politics is a mean game.
July 27th, 2010 at 1:15 pm
According to Erica, Thank God for FDR! FDR was a killer of small business, including banks. I guess another way of looking at it is “too small to succeed.”