Financial Regulation

Goldman Sachs Gets Top Seed

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As the House and Senate prepare to reconcile their versions of the new financial regulation package, Tim Carney starts to sort out which businesses will benefit from the new rules and which ones will come out behind. The players, he notes, include "investment banks, commercial banks, hedge funds, private equity firms, car dealers, community banks, credit unions, and many others. A general rule when following these complicated rumbles is to ask 'who has the strongest political connections?' and then assume that side will win."

NEXT: "According to their bios, Thomas Friedman and Maureen Dowd are 57 and 58 years old, respectively. You'd never guess it from their columns."

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  1. A general rule when following these complicated rumbles is to ask ‘who has the strongest political connections?’ and then assume that side will win.

    Where’s Wesley Mouch when you need him?

  2. A general rule when following these complicated rumbles is to ask ‘who has the strongest political connections?’ and then assume that side will win.”

    But that can’t be why Fannie and Freddie are completely unaffected.

    Can it?

  3. A general rule when following these complicated rumbles is to ask ‘who has the strongest political connections?’ and then assume that side will win.”

    See, Obama is bringing transparency to Washington!

  4. A quick guide to the soon-to-be winners of “financial reform,” courtesy of FBN:

    In addition to major Wall Street firms like Goldman Sachs (GS), which agreed to contribute $20 million to the bailout effort, as well as Citigroup (C) and JPMorgan (JPM), General Electric’s (GE) GE Capital will also contribute $20 million to the rescue effort.

    The bailout referenced is the bailout of ShoreBank, everyone’s favorite TEAM BLUE!/Wall Street corruption nexus.

    1. Per Glenn Beck’s reporting on “Crime Inc.” GS has a stake in ShoreBank, a small bank that cannot claim it is too big to fail for taxpayer bailouts, but specializes in cap and trade green project (Energy Efficiency Fund) financing. The fund is a subprime energy ponzi scam, that is economically unsustainable for the exact reasons subprime mortgage lending is, and has ultimately resulted in failure, so they are getting a bailout from private industry first. This bailout won’t help, and it will still fail and then they will come to the taxpayers again. It’s disgusting.

  5. My Preview of ObamaFinance:

    Mandate for every American to hire an Accountant.

  6. In other banking news, Citibank employee is too hot to bank. Feminists outraged at discrimination, also wish attractive women would STFU about it already.

    1. I wonder if she wears that dress to work?

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