tag:blogger.com,1999:blog-7608702.post5305875506168677671..comments2023-10-25T08:46:20.242-05:00Comments on The Distributist Review: Aristotle and Aquinas, Bank RegulatorsJohn Médaillehttp://www.blogger.com/profile/16463267750952578888noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7608702.post-57663334162262815472010-04-20T17:05:46.240-05:002010-04-20T17:05:46.240-05:00Bill Clinton does a Mea Culpa (sort of) on followi...Bill Clinton does a Mea Culpa (sort of) on following Rubin’s and Summers advice on not regulating OTC derivatives<br /><br />Clinton: I Was Wrong to Listen to Wrong Advice Against Regulating Derivatives<br /><br />http://tinyurl.com/y3uy3l4 <br /><br />Rep Paul Ryan (R-WI) was on MSNBC today explaining why he oppose the Democrats plan that sets up a permanent bailout fund (at taxpayers expense) and suggested another alternative. He also talks about how he sat on the committee that had oversight o Fannie & Freddie and tried to reign them in and had his head handed to him by his own party. Both parties are complicit in providing cover for Wall Street <br /><br />Paul Ryan on crony capitalism and better alternatives <br /><br />http://www.youtube.com/watch?v=BA8RconjXfE <br /><br />Here is the article Ryan references I the video<br /><br />http://nationalaffairs.com/publications/detail/curbing-risk-on-wall-street<br /><br />Oh – and here is the difference between Nerd, Dork, and Geek Explained by a Venn Diagram<br /><br />http://tinyurl.com/ydvzqld<br /><br />.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7608702.post-38155936797828168072010-04-20T15:17:47.667-05:002010-04-20T15:17:47.667-05:00Matthew, I think there is good reason to doubt the...Matthew, I think there is good reason to doubt the sincerity of the Republicans on this issue (or the Democrats, for that matter.) They say they want change, but they mostly oppose anything that would limit the power of the banks. <br /><br />Equities markets are a bit peculiar. They provide liquidity to the capital markets, but no cash to business (in most cases.) That is, they provide a market for shares, but it is mostly a "used-shares" market. Like a used car market, Ford gets no money when you sell your old Ford. In the same way, Ford gets no money when you sell your "used" share of Ford Motor Company. Only five percent of the stock market goes to IPOs, where the company actually raises capital. This has a couple of effects. One, people talk about "investing" but are only speculating. Investing is the serious job of giving money to business to expand operations, increasing product and employment. Speculation is just a bet on the movement of a particular market or equity, without supplying any funds that can be used in that market. One can argue that the liquidity--the certainty of finding a buyer if you want to convert your equity to cash--encourage investment. But even if this is so, it is very inefficient; 95% of investment isn't investment at all, and doesn't add to the spendable capital of businesses.<br /><br />Yes, I do cover this in my new book.John Médaillehttps://www.blogger.com/profile/16463267750952578888noreply@blogger.comtag:blogger.com,1999:blog-7608702.post-29680002946954226032010-04-20T10:09:36.042-05:002010-04-20T10:09:36.042-05:00Mr. Medaille, as always I come away a little more ...Mr. Medaille, as always I come away a little more edified than I did approaching this article; and I enjoy your writing style. Do you enjoy reading Mark Shea? <br /><br />However, I did notice that you said "...to put some pressure on the Republicans, who have vowed to stop any banking regulation, no matter what." It is my understanding that some Republicans (McConnell in KY) have said that they don't necessarily dislike "Financial Reform" ("Healthcare Reform" was a nice segway into this next round of regulation), but that they don't like THIS REFORM. I don't think it invalidates your main argument to point this out, I just think you could have been a little more prudent.<br /><br />Furthermore, do you have any thoughts on the usefulness of equities markets? I understand that employee-ownership of companies is certainly a favorable scenario in most cases, but once said companies are owned by employees, is there any need for markets of exchange in the securities that perhaps employees want to sell? Is this topic covered at all in your upcoming book?<br /><br />Thank you.<br /><br />Sincerely,<br /><br />Matthew WadeMatthew Wadehttps://www.blogger.com/profile/17048985128891457311noreply@blogger.comtag:blogger.com,1999:blog-7608702.post-10168953742326410712010-04-20T08:05:17.581-05:002010-04-20T08:05:17.581-05:00i aspire to nerd-dom in these matters anyway.i aspire to nerd-dom in these matters anyway.Juliannoreply@blogger.comtag:blogger.com,1999:blog-7608702.post-24838842496658210032010-04-19T16:29:39.202-05:002010-04-19T16:29:39.202-05:00My guess, Goldman has shorted the lawsuit and sold...My guess, Goldman has shorted the lawsuit and sold enough CDS's to cover any fine and pay the CEO a nice bonus.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7608702.post-54965611322999970092010-04-19T09:32:07.237-05:002010-04-19T09:32:07.237-05:00"...and if you, loyal reader, have gotten thi..."...and if you, loyal reader, have gotten this far in this essay, it is likely that you are a nerd or have mild Asberger's Syndrome..."<br /><br />Hey, I resemble that remark :o)Grace Pottshttps://www.blogger.com/profile/05774730632360466259noreply@blogger.comtag:blogger.com,1999:blog-7608702.post-42047301594840498582010-04-19T08:57:14.970-05:002010-04-19T08:57:14.970-05:00Yeah, I agree that Goldman probably does own the S...Yeah, I agree that Goldman probably does own the SEC and this is for show mainly. <br /><br />The thing is to get this before the common people in an understandable way. John does that better than anyone I know. Once good people see it, all sorts of great things can happen.Tom Laneyhttps://www.blogger.com/profile/01811615310314303793noreply@blogger.comtag:blogger.com,1999:blog-7608702.post-30037126464479799002010-04-19T08:19:06.098-05:002010-04-19T08:19:06.098-05:00+AMDG
Excellent article! I'm inclined to be ...+AMDG<br /><br />Excellent article! I'm inclined to be more skeptical regarding the SEC's motives here (I still maintain that Goldman owns them, and that this is more show than anything else), but it's wonderful to read about bringing the economy back to reality.<br /><br />Praise be to Christ the King!Donald Goodmanhttps://www.blogger.com/profile/13039712724283289972noreply@blogger.com