Posts Tagged ‘democrat’

Our Broken Two Party System: What Are We To Do?

January 3, 2010 (By Bud Burrell)

– From “Front and Center”, by Bud Burrell

Our political process has degenerated into a hardened two party system, the objective of which can only be the control of the electorate. The leaders of this system have become the worst kind of elitists, concerned only with furthering their own power, as opposed to protecting this nation from its enemies, both foreign and domestic. The latest of the many affronts to the US citizens was the decision by our legislative bodies to exempt them from being subject to the new “Health Care Reform Act” which oversteps their Constitutional authority according to my best analytical sources.

The most disgusting element of the proposed “Health Care Reform Act” is that our legislators have chosen to exclude themselves from living under the same system they would unilaterally impose on the American People. This sort of effrontery has brought down other governments in the past, and before this is over, it may well have the same effect here.

The two party system preached by our politicians is designed to wrap broad controls over the electorate irrespective if their political views. In most cases, each party is controlled by fringe elements whose principal concern is the continued propagation of their own power, which can only occur when the largest unit of American voters shifts support between the parties at elections. [entire post]

A New Wall Of Worry Is Rising

May 15, 2009 (By Dr. Joe Duarte)

From “Dr. Joe’s Market Diagnosis”, by Dr. Joe Duarte

The S & P SPDR (NYSE: SPY) and the Proshares Nasdaq 100 (NASDAQ: QQQQ) ETFs had a tough time for the week that ended on May 15, 2009, as the stock market seems to be pricing in another down leg in the economy as policy and legislation initiatives slated for development and likely passage in the next few months are leading to another round of uncertainty.

At the top of the scary stuff list are congressional plans for a busy summer of legislation. Congressional Democrats have an ambitious July agenda, featuring healthcare reform, climate change, annual spending bills and a potential Supreme Court before the August recess.

The Hill.com suggests that this could be the final push of “the busiest stretch of Obama’s first term,” which makes us wonder that means, exactly. Is it a sign that the onslaught of “change” is done? Or are they alluding to the fact that it will take a year to get agreements on all the upcoming legislation? To be sure, the 2010 election campaign for Congress will put a damper on any significant activity. And by the time that’s over, the presidential campaign will be in full swing. [entire post]

Regulatory Reform In The Obama Era

April 22, 2009 (By Peter Chepucavage)

From “Plexus Nexus”, by Peter Chepucavage

(Co-authored by Tony Broy) — Senator Jack Reed, a Democrat and Chairman of the Senate Subcommittee on securities said last Thursday he will hold a hearing to review the Securities and Exchange Commission from top to bottom and see where improvements can be made and would call in experts to offer recommendations. While there may well be benefits to this effort, it will also slow down any internal efforts by the commission to restructure. We offer the following as a temporary solution that can be implemented without legislation.

REGULATION BY ENFORCEMENT IS NOT WISE

Expectations are high for serious reform and much of that expectation suggests more SEC enforcement staff. But as explained in the Center for Capital Markets Competitiveness Report on the Efficiency and Effectiveness of the SEC, http://www.uschamber.com/assets/ccmc/090211ccmc_sec_speed.pdf (CCM REPORT) enforcement should not be the primary venue for implementing policy. The SEC must not always be reactive. We believe there is much confusion about the role of such staff. By its very nature enforcement staff pursue sanctions after the fact. The former Enforcement Director admitted as much at the congressional hearing. They do not perform surveillance or examine. A wiser approach or strategy might be how to prevent problems through an increase in preventative staff or better use of current resources. Harry Markopolis-HM- made the same point in his testimony at the Congressional hearing.

ALLOCATION OF RESOURCES IS VITAL

There are currently at least 6 entities regulating the securities side of financial services. The SEC has 3500 employees. FINRA has 3000 employees. The NYSE regulatory staff has approximately 300-500   employees and the NASDAQ regulatory staff has additional personnel. The 50 states have approximately 500-700 employees in their securities administrator’s offices and attorney general’s offices. [entire post]

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