White House Considers Paring Down More Ambitious Regulatory Overhaul

Wall Street Journal:

WASHINGTON -- Obama administration officials are debating whether to pare some of their more ambitious ideas to revamp oversight of financial markets, in a nod to the political difficulties of pushing through sweeping changes, people familiar with the process say.

Read the whole story: Wall Street Journal

Comments

[Firbolg]

I think there's a typo in the header. Shouldn't it read "White House instructed to Pare down Regulatory Overhaul."

[Mulvaney]

If we began regulating things again we might end up with another 50 years of general prosperity that we enjoyed before Reagan started dismantling the system. But if that happened, the richest of the rich might not see quite as much wealth as has been accumulating in their hands since that time. So the end result seems to be a foregone conclusion, even under Obama.

But if the decision is still being debated, so it would still seem like there is time for people to express their opinion. Even Roosevelt told his supporters that he might agree with them, but they had to make him act. The future of our economy will be remade one way or the other, and if we simply wait for Obama to make the decision it may not be all that some of us had wanted.

[themodernleader]

When Obama surrrounded himself with the originators and some of the perpetuators of the greatest swindle in the history of human kind, I knew that we were faced with the same corrupt policies, including coverup of financial institutions that have been followed for a quarter of a century.
Now regulatory reform is being downgraded. There is not the political will when the CEO covers up the criminality while clandestinely funnelling literal trillions of degraded dollars in a vain attempt to bail out tens of trillions of fraud. His subordinates are consummate miscreants and incompetents. God help us.

[IDIOTA]

Well, if it ain't broke, don't fix it. What? It's broke?

[synic]

Wow, what a shocker.

Status quo Wall Street can believe in. Color me unsurprised.

[MANK]

Another half ars job out of DC?

[ReedYoung]

The Wall Street Journal, now owned by Rupert Murdoch's News Corporation, is not reporting on an event but on a possibility.
"Obama administration officials are *debating whether* to pare some of their more ambitious ideas to revamp oversight of financial markets ..."

What a pathetic, transparent attempt to manufacture controversy! Boycott News Corp., not just Fox News.
http://www.newscorp.com/management/index.html

[PhilipTaylor]

Why when it was Poor or No regulation that got us into this fix?

Isn't it time to make it safe for Main Street people to invest without a Mafia Type taking your investment?

Most of are waiting from Honest and Fair Regulated markets before we consider putting a dime in the markets.

They are cr00ked and must be fully regulated! Investigated and punished if need be.

[LHoney]

If we can't get congress to pass strong regulation legislation now, I don't want to know what will have to happen in order to get it. Every baby boomer in America has had their retirement destroyed and yet not a peep out of anyone. Why are there no protesters? What has happened to this country?

[petman2001]

"United Sheep of America"

[Mike Keough]

My Dear Huffington Post Editors, You have made a terrible mistake. This, although sounding like a business issue, is posted under the wrong heading. This is a Political issue. And if you had a "Crime" section, it should be there. I don't know how Dodd and Frank will rationalize what happens, that should be filed under your new "Fiction" section, but the breath of money they acquire will need to go into your new "MONEY" section. We will more than likely never get the regulation the financial system requires.
We will get what the financial system can buy. The Fed and the Treasury will have to be listed under the new section "New Acquisitio­ns."

[MelDel7365]

They going to do anything here?

First, the credit card bill got watered down to a joke -- what, so we get more fine print now as the credit cards continue their behavior?? Yeah, you'll start getting more of those little notices that your credit card is gearing up to take more of your money for no good reason...t­hanks. Too many of our legislators, in both parties, are bought and paid for - so they couldn't bring themselves to actually do something substantial like capping the ridiculous interest rates these cards charge - so they paid lip service to the problem and now we're all supposed to think they addressed the problem.

And now this. Pairing down regulations before they even try to get anything passed, really?? Yeah, this is going to be great. I'm sure they will pass something, but my guess is that is will be some weak, pathetic bill that simply pays lip service to the promises to implement stronger regulations and won't do anything of much use. We need BOLD LEADERSHIP - not this pandering to those who got us into this mess in the name of "building consensus" sigh.

[Kassandra]

How many times have we heard this over the last 5+ months? Can't do it, won't do it...whate­ver.
I guess this means that these looters won't be regulated at all...even a little bit, and we'll still be the sources of blood for the vampires..­..that seems to be how it's been shaking out.

[Polly]

Kassandra - I hope this goes better, but you are right. Without new rules and regulations the middle class will always be at the mercy of those in the money.

[Rule Of Law]

The prez. doesn't even try!!!

Imagine LeBron going to the hoop, just laying the ball down and walking to the bench!

Obama, you got no game.

[MaxBob]

Ahhhh C R A P.
http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm

[totaldisbelief]

So now that the hoo-haa and posturing are over everything can return to business as usual?
My, that's disappoint­ing.....I wonder what else will be disappointing. Hmmm maybe everything I had hoped for. So far the minuses and the pluses about even out.

[1dogs2]

The sad fact is that however the regulators are reorganized, it will make no difference unless they actually REGULATE. As long as the foxes are put in charge of the hen house, Wall Street will continue on its heedless way.