LaVern F. Isely
Monroe
To the editor:
The first political party that pushes a good jobs bill should be the party that's elected in 2014. Both parties believe in free trade but a free trade bill is not necessarily a fair trade bill. The party that defines a fair trade bill is the one that should be elected.
Up to now, neither party is really talking too much about strengthening the Dodd-Frank Bill. The big investment banks' lobby group, ISDA (International Swaps and Derivatives Association), is virtually out to kill the Dodd-Frank Bill because they believe in free enterprise and no regulations. That's what President Reagan's Budget Director David Stockman would call "crony capitalism" and it has no place in our government. Granted, the payday lenders, hedge funds, private equity and venture capitalists would just as soon keep loaning to the 99 percent.
Since Fed Chairman Bernanke has the bond interest rates down to virtually zero, this is creating the low CD rates at the commercial banks. If the banks continue on that course, we'll have a bigger bubble, which will make the one in 2008 look like a picnic when President George W. Bush left office.
The excerpts I've put on my blog sites (WordPress and The Nation Builders by Googling my name) from the book "With Liberty and Justice For Some: How the Law Is Used to Destroy Equality and Protect the Powerful" by Glenn Greenwald and you have to know what the 3,000 investment banking lobbyists are up to. While that book was great, "Fool's Gold: The Inside Story of J.P. Morgan and How Wall St. Greed Corrupted Its Bold Dream and Created a Financial Catastrophe" by Gillian Tett was very, very detailed because she took one of the biggest banks in size and the biggest in derivatives and how they operate with other banks in this country and around the world.
"Fool's Gold" is a book about derivatives which are worthless because they are not a commodity. A commodity is gold that you can use for money, as well as an excellent filling for teeth. All of the grain commodities for food, causing land prices to go up because everything comes from the land, including oil that is used to run our automobiles. You could throw in diamonds for status symbols in marriages. Commodities must be taxed fairly or we'll all perish under debt.
Monroe
To the editor:
The first political party that pushes a good jobs bill should be the party that's elected in 2014. Both parties believe in free trade but a free trade bill is not necessarily a fair trade bill. The party that defines a fair trade bill is the one that should be elected.
Up to now, neither party is really talking too much about strengthening the Dodd-Frank Bill. The big investment banks' lobby group, ISDA (International Swaps and Derivatives Association), is virtually out to kill the Dodd-Frank Bill because they believe in free enterprise and no regulations. That's what President Reagan's Budget Director David Stockman would call "crony capitalism" and it has no place in our government. Granted, the payday lenders, hedge funds, private equity and venture capitalists would just as soon keep loaning to the 99 percent.
Since Fed Chairman Bernanke has the bond interest rates down to virtually zero, this is creating the low CD rates at the commercial banks. If the banks continue on that course, we'll have a bigger bubble, which will make the one in 2008 look like a picnic when President George W. Bush left office.
The excerpts I've put on my blog sites (WordPress and The Nation Builders by Googling my name) from the book "With Liberty and Justice For Some: How the Law Is Used to Destroy Equality and Protect the Powerful" by Glenn Greenwald and you have to know what the 3,000 investment banking lobbyists are up to. While that book was great, "Fool's Gold: The Inside Story of J.P. Morgan and How Wall St. Greed Corrupted Its Bold Dream and Created a Financial Catastrophe" by Gillian Tett was very, very detailed because she took one of the biggest banks in size and the biggest in derivatives and how they operate with other banks in this country and around the world.
"Fool's Gold" is a book about derivatives which are worthless because they are not a commodity. A commodity is gold that you can use for money, as well as an excellent filling for teeth. All of the grain commodities for food, causing land prices to go up because everything comes from the land, including oil that is used to run our automobiles. You could throw in diamonds for status symbols in marriages. Commodities must be taxed fairly or we'll all perish under debt.
