No proprietary trading for banks

DionysusToast

Well-known member
Dec 6, 2009
5,962
1,496
223
www.jigsawtrading.com
#2
It will stop banks taking consumer deposits and gambling with them.

I will be happy to keep a little cash in the banks again once this happens. I don't mind my banks being mortgage companies, credit card companies, business loan companies. When it comes to using my cash on dodgy derivatives trades or playing the markets - no thanks.

Of course, in the short term, it could pull some liquidity out of the market.
 

gooseman

Well-known member
Feb 20, 2008
1,776
219
73
#4
ill thought out junk form populist (no)bama.

how the hell can you stop prop positions when a bank is making a market in a security?

the hedge/private fund investment regulation is also garbage. banks have got to make their money work for stakeholders. hopefully obama and the wrecking ball that is Volcker will get laughed out of the Senate on this one.
 
Mar 29, 2007
2,806
125
73
www.oilfxpro.com
#5
the hedge/private fund investment regulation is also garbage. banks have got to make their money work for stakeholders. hopefully obama and the wrecking ball that is Volcker will get laughed out of the Senate on this one.
Banks were using unregulated hedge funds illegally to create the cdo bubble.Most of these activities were illegal , by regulated banks using unregulated hedge funds on their books.

Unregulated subsidiaries like S I V S are illegal.

http://www.marketoracle.ws/index.php?name=News&file=article&sid=9123

 

DionysusToast

Well-known member
Dec 6, 2009
5,962
1,496
223
www.jigsawtrading.com
#7
Let's face it - if these banks were sharing these profits with the people whose money they were trading with, there would be no problem.

Here's what I want my bank to do:

1 - look after my money
2 - make loans to small businesses after carrying out proper due dilligence
3 - make mortgage loans to people that can afford to repay them
4 - run a credit card business
5 - run a proprietary trading desk, not telling me how they are gambling my money, risk it on complex derivatives trades they don't even understand themselved risking my entire deposit with ridculously huge leverage
6 - Use my tax money when they blow up
5 - not pay me a single penny of the profits they make from 5

Sound reasonable ?
 
Mar 29, 2007
2,806
125
73
www.oilfxpro.com
#9
that article is on credit default swaps mate.

Exactly.It is about using the banking system to create money out of thin air, by using illegal subsidiaries to create the C D O bubble.

This is how the financial crisis was created by using illegal subsidiaries, and selling/writing C D O to these subsidiaries.The investment banks dumped these CDO to other instituitions.

Hedge Funds and CDO Investment Landfills: How professionals dump their toxic waste on you

http://www.marketoracle.co.uk/Article1444.html
 

arabianights

Well-known member
Jan 9, 2007
6,725
1,377
223
#10
I think this is only going to apply to depostiory institutions. Seems fair to me... I'd be pretty pissed off if one of the building societies I'm a member of starting market making emerging sovereign CDS actually...
 

blancspa

Active member
May 31, 2008
814
35
38
#13
I dont understand how people from Wall Street can fight people from Wall Street and that will benefit everyone not from the Wall Street?
Isinit contrarian to the game theory? lol
 
Mar 29, 2007
2,806
125
73
www.oilfxpro.com
#15
any views fo your own ODT? Or is it just a cut n paste job?
My opinion.This CDO bubble was the biggest con of all time, sole intention of robbing people's pension savings.It is the greatest crime of all time.

The Lloyds insurance syndicate had to put every dime of their own money to meet obligations.The taxpayers got robbed by the investment bankers.

Gooseman.You might as well start posting " give all the pensions to these investment banks to manage":cry: