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View Full Version : Dodd - Frank - The Smoot-Hawley of the 21st Century?


chrsdwns
July 22, 2010, 13:47
The Dodd-Franks Bill recently passed seems to have the potential to be the Smoot-Hawley of the 21St Century. All of the bond rating agencies have cancelled their Bond Rating Certifications in light of the new bill and now Ford is halting new bond offerings.

We have our "Natural Disaster" in the Gulf. Not the Dust Bowl perhaps but bad enough for the Gulf states right now and the rest of the country as soon as it filters down to teh rest of us. The Bush Tax cuts expire so we will be raising taxes next year.

M3 is sinking like a rock, our economy has very limited liquidity and the Stock Market is due for a bit of a correction.

There are tons of back log of foreclosed residential properties that are soon to be dumped onto the market which will not be good for residential real estate market and the commercial market is being hit hard by excess capacity, low demand and excessive costs.

Looks like we 2011 is going to be very interesting times. You can only kick the can so far and it looks like a lot of cans may be getting kicked to the end of the curb at the same time

BTW- were not Dodd and Franks the two major players in screwing up our system in the first place? These two belong in jail, not sponsoring even more legislation that makes our economy worse.






Read more: http://www.businessinsider.com/ford-halts-bond-offering-2010-7#ixzz0uRBE4lpB

gates
July 22, 2010, 19:18
But wait........... the FDIC made the 250k guarantee perm. and is making it retroactive back to 2008 - that will fix everything...

TheJokker
July 23, 2010, 06:43
those who would not support the lesser evil now have to live under the greater evil...

shlomo
July 23, 2010, 07:23
Those who will not support the good will live under evil, no matter what.

chrsdwns
July 23, 2010, 13:54
Actually, we all have to live under the greater evil because a small majority of morons voted these monkey wrenchers into power.

November or never.