Monday, April 07, 2008

The Great Dilemma


Not that I think the Paulson plan is THE solution. Or even A solution. Or that the Fed is the right agency to carry it out. Not even close.

The rating agencies need less power, distributed over more firms (competition) and a system for rating varying products differently instead of the needlessly confusing manner they have been rated.

The SEC needs more oversight power and more investigators, and needs to be able to pay them more. Merging the CFTC with them is a good idea, and the merged organization needs the power to put someone's nuts on the chopping block and make a wish when they fuck up. Going the other way -- to the CFTC's weakened oversight -- is WRONG.

The Fed needs to be destroyed, central planning Communist cocksuckers that they are.

Did I miss anything? Probably but that's what comments are for! :)

Until next time...I'm still catching up on reading and thinking about this self-directed IRA paperwork...

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