The biggest thing wrong with politics is how easy the candidates running for office can get their money. The bad thing is most of it is from the wrong sources. The Illinois governor is a good example. I knew you could get campaign money from hedge fund dealers. That's why presidential candidates - Sens. Obama, Clinton and Edwards, and Rep. Kucinich - all thought they should be taxed. Naturally, all the lobbyists and consultants on K Street can see how fast they can talk politicians out of that idea.
The following is a quote out of a college textbook, "The Economics of Money, Banking and Financial Markets" by Frederic Mishkin: "Hedge Funds - In the wake of the near collapse of long-term capital, many U.S. politicians have called for regulation of these funds. However, because these funds operate offshore in places like the Cayman Islands and are outside of U.S. jurisdiction, they would be extremely hard to regulate. What U.S. regulators can do is ensure that U.S. banks and investment banks have clear guidelines on the amount of lending they can provide to hedge funds and require that these institutions get the appropriate amount of disclosure from hedge funds as to the riskiness of their positions."
That's why we need regulations - more rather than fewer, like the rich people and corporations are promoting. Warren Buffet says we have so many tax loopholes that his tax rate is lower than his secretary's. So, while the Forbes richest 400 billionaires keep bragging every year about all the money they are making, our federal elected officials keep borrowing from Social Security, foreign governments and even credit card companies, as well as pushing our interest rates down to zero.
What do you think it makes the U.S. look like to the rest of the world - a bunch of responsible people or a bunch of freeloaders out for all they can get? Most of us paid $4 for our Obama yard signs, so that's almost as good as campaign finance reform. So President-elect Obama owes the working class more than the hedge fund dealers and the people promoting 527 groups so they could keep their unregulated, corrupt system afloat. That's why they called Bernard Madoff's operation a Ponzi scheme, who went after the wealthiest individuals, rather than the people in the middle class and their pension funds.
The following is a quote out of a college textbook, "The Economics of Money, Banking and Financial Markets" by Frederic Mishkin: "Hedge Funds - In the wake of the near collapse of long-term capital, many U.S. politicians have called for regulation of these funds. However, because these funds operate offshore in places like the Cayman Islands and are outside of U.S. jurisdiction, they would be extremely hard to regulate. What U.S. regulators can do is ensure that U.S. banks and investment banks have clear guidelines on the amount of lending they can provide to hedge funds and require that these institutions get the appropriate amount of disclosure from hedge funds as to the riskiness of their positions."
That's why we need regulations - more rather than fewer, like the rich people and corporations are promoting. Warren Buffet says we have so many tax loopholes that his tax rate is lower than his secretary's. So, while the Forbes richest 400 billionaires keep bragging every year about all the money they are making, our federal elected officials keep borrowing from Social Security, foreign governments and even credit card companies, as well as pushing our interest rates down to zero.
What do you think it makes the U.S. look like to the rest of the world - a bunch of responsible people or a bunch of freeloaders out for all they can get? Most of us paid $4 for our Obama yard signs, so that's almost as good as campaign finance reform. So President-elect Obama owes the working class more than the hedge fund dealers and the people promoting 527 groups so they could keep their unregulated, corrupt system afloat. That's why they called Bernard Madoff's operation a Ponzi scheme, who went after the wealthiest individuals, rather than the people in the middle class and their pension funds.
