GammaJammer
Guest Author
- Messages
- 1,246
- Likes
- 830
today - lots. Most recently that Obama is sticking the boot into the banks' prop activities. USD selling off across the boards. But all around it's been a bit lively this afternoon.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Technical breaches on S&P and DOW as well.
Great trading
Great trading
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Obama: "if the financial "folks" want a fight, its a fight he's ready to have"
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Not very subtle.
Dollar index penguin bound
Dollar index penguin bound
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
for the moment
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
“While the financial system is far stronger today than it was a year one year ago, it is still operating under the exact same rules that led to its near collapse,” said President Barack Obama. “My resolve to reform the system is only strengthened when I see a return to old practices at some of the very firms fighting reform; and when I see record profits at some of the very firms claiming that they cannot lend more to small business, cannot keep credit card rates low, and cannot refund taxpayers for the bailout. It is exactly this kind of irresponsibility that makes clear reform is necessary.”
The proposal would:
1. Limit the Scope-The President and his economic team will work with Congress to ensure that no bank or financial institution that contains a bank will own, invest in or sponsor a hedge fund or a private equity fund, or proprietary trading operations unrelated to serving customers for its own profit.
2. Limit the Size- The President also announced a new proposal to limit the consolidation of our financial sector. The President’s proposal will place broader limits on the excessive growth of the market share of liabilities at the largest financial firms, to supplement existing caps on the market share of deposits.
In the coming weeks, the President will continue to work closely with Chairman Dodd and others to craft a strong, comprehensive financial reform bill that puts in place common sense rules of the road and robust safeguards for the benefit of consumers, closes loopholes, and ends the mentality of “Too Big to Fail.” Chairman Barney Frank’s financial reform legislation, which passed the House in December, laid the groundwork for this policy by authorizing regulators to restrict or prohibit large firms from engaging in excessively risky activities.
As part of the previously announced reform program, the proposals announced today will help put an end to the risky practices that contributed significantly to the financial crisis.
The proposal would:
1. Limit the Scope-The President and his economic team will work with Congress to ensure that no bank or financial institution that contains a bank will own, invest in or sponsor a hedge fund or a private equity fund, or proprietary trading operations unrelated to serving customers for its own profit.
2. Limit the Size- The President also announced a new proposal to limit the consolidation of our financial sector. The President’s proposal will place broader limits on the excessive growth of the market share of liabilities at the largest financial firms, to supplement existing caps on the market share of deposits.
In the coming weeks, the President will continue to work closely with Chairman Dodd and others to craft a strong, comprehensive financial reform bill that puts in place common sense rules of the road and robust safeguards for the benefit of consumers, closes loopholes, and ends the mentality of “Too Big to Fail.” Chairman Barney Frank’s financial reform legislation, which passed the House in December, laid the groundwork for this policy by authorizing regulators to restrict or prohibit large firms from engaging in excessively risky activities.
As part of the previously announced reform program, the proposals announced today will help put an end to the risky practices that contributed significantly to the financial crisis.
dimsdaletraders
Active member
- Messages
- 109
- Likes
- 16
Technical breaches on S&P and DOW as well.
Great trading
and on the same note, though no doubt on a (much!) smaller scale, I've been happily daytrading the FTSE miners as shorts since early this morning
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Good for you, Tess
Richard
Richard
GammaJammer
Guest Author
- Messages
- 1,246
- Likes
- 830
there's tons of stuff in the mixer today. Greek bond ructions, german comments on the viability and desirability of shoring them up, US terror alert as an aircraft is diverted, Aussie govt talking about a windfall tax on mining corps, people doing u-turns in EM, goldies turning up with another scarily good EPS before being battered by Obama etc etc etc.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Of course, it's pure co-incidence that Obama's grandstanding comes immediately after losing Mass. and his control of the Senate.
B
Black Swan
I dunno, you Cable Guys...it's always me, me, me ...Most currency pairs experienced luverly moves particularly Yen, there was loads left in the tank, even if you missed the first 5-30 mins. Only thing not mentioned by the other guys is the jobless figures looking bad again and a flight to Treasuries together with a real fear re. China restricting their banking and their lending practices, which then may spook the big big players re. the amount of US debt they hold and what the fook can they do with it..?
...Most currency pairs experienced luverly moves particularly Yen, there was loads left in the tank, even if you missed the first 5-30 mins. Only thing not mentioned by the other guys is the jobless figures looking bad again and a flight to Treasuries together with a real fear re. China restricting their banking and their lending practices, which then may spook the big big players re. the amount of US debt they hold and what the fook can they do with it..?
Last edited by a moderator:
