Obama's Financial Reform BIll

A. Bad

B. Terrible

C. Disastrous

D. Other

No "all of the above"?

But but he *says* its going to stop bankers from being bad! Take THAT wall street!

I posted this guide to the legislation in another thread. The following piece of legislative idiocy is only part of some Arkansas bill, but it is representative of the types of things Congress is up to. With these types of things in mind, I facepalm when forum idiots say "but it is THA LAW!"

Many people in the insurance and finance industry have both insurance producer licenses and stock broker licenses, and many just have one or the other. One proposal will restrict insurance producers' ability to advise clients to get life insurance or an annuity, when the source of funds is securities. If it is a million dollars from them selling a piece of toast with the image of Jesus on ebay, it is no problem, but if it is from stocks, it is somehow different.

Keep in mind how surprising and rapid the fall of the Soviet empire was. There's absolutely nothing to indicate that the US is immune from such a fate.

E. R. Olovetto:

Keep in mind how surprising and rapid the fall of the Soviet empire was

Surprsing to the majority of Americans, who had been listening to Ronald Reagan talk about the death star for many years. 

I thought there were all sorts of indicators that Russia was going to collapse? I don't know what kind of macro data was being collected, by the actual day2day operations of their venture were all out of whack. I'd cite examples, but you probably know more about it than I do.