Forget congressional banking reforms. President announcing Global reforms

[Ruby the Liberal]

Wow!

Good stuff!

Live on MSNBC right now...

[aquart]

1. Is "announcing" the same as "enacting"?

[Ruby the Liberal]

6. Of course not

What dropped my jaw was the policy points that were announced as "agreed to globally". Executive pay tied to long term results was a huge one.

The only way to reign in multi-nationals (and their multi-national shareholders) is via a mutually agreed-to multi-national set of regulations.

I think it is exciting as I have been concerned as to whether Congress has the collective cojones to reign them in nationally.

[Selatius]

2. Words are cheap. We cannot win without substantive action.

Just like the health care debate. We're interested in the details of the final bill.

[enid602]

3. regulations

Geithner said (prior to the reform legislation being submitted to Congress) that such reform would only be enacted if other industrialized countries adopted the same regulations. This was a thinly-veiled threat to the Brits, who maketed London as a place to avoid Oxley-Sarbannes legislation which passed after the Enron fiasco.

[Ruby the Liberal]

9. I was not aware of this. Thanks!

[ThomWV]

4. How about we forget about the global reforms and concentrate on our own mess?

Why don't we try something enforcable to start with and let the rest of the world worry about itself for a while?.

[Ruby the Liberal]

7. Can you seperate Wall Street out from the global economy?

These damn crooks will just pull a Haliburton and move their HQ to Dubai or somewhere and keep on raping and pillaging.

Besides -- we can't even get Congress to stand up to Big Insurance and Big Pharma. You think they are going to stand up to the banks?

I don't recall Glass-Steagall being reinstated and Gramm-Lehey being repealed. It has been a damn YEAR since TARP. Where is the regulation from our own reps?

*crickets*

This has to be done globally or it won't be done at all, IMO.

[Kaleko]

11. Exactly right.

[anonymous171]

5. International Law and Regulations are worthless without full commitment .

I would much rather Obama focus on National Banking reforms. That way at least something would get done.

[Turbineguy]

8. This is of course

the correct approach.

[Ruby the Liberal]

10. Video up now:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x377809

[timtom]

12. NWO

Any questions?

[Ruby the Liberal]

13. Yep, I gots one.

What is it about the massive FAIL in attempting to regulate multi-national corporations nationally that you are missing?

Please explain to the class how you suggest we crack down on the immoral/illegal casino without making it a global mandate...

Edit for spelling.

[timtom]

14. So, you REALLY think this is all being done for the good of

humankind, do you?

I feel better about global economics already. Thanks, Ruby.

(I'm just a little uncomfortable with the video of real live jackbooted thugs in Pittsburgh, working hand-in-glove with the military, in clear defiance of the Posse Comitatus Act of 1878.)

An attempt to curb immoral/illegal corporate activities, says you.

NWO says I.

[Ruby the Liberal]

15. Look, I want to see Tibet free as well,

but this has nothing to do with the anarchists in Pittsburgh. That city was simply unprepared for an event of this magnitude. Lessons from Seattle and Paris were ignored. I have family there. They didn't prepare correctly, or underestimated the effect on the city.

I just feel strongly that we will not be able to kill all of the cockroaches unless we take a holistic approach. No more hiding funds overseas to escape random regulation (and taxation) while taking taxpayers to the cleaners to keep the scam going.

I appreciate your concerns. Trust me on that. Those who sacrifice freedom for safety deserve neither.

I just don't see another equitable way around this when we have multi-nationals with multi-national ownership (shareholders).