GMS Business Consulting 365 Comments

Is The 2010 Dodd-Frank Act Impotent?

The Wall Street Journal

The Wall Street Journal

 

Nomi Prins

Nomi Prins

Good Morning Everyone!  Today’s question…are you among those who believe that the 2010 Dodd-Frank Act has strengthened the banking and financial systems, and if so, how?  Who really has benefitted from this Act…the bankers or we the people?

Well, we have an eye opening, candid, insightful and fact-based article to share with you on the effectiveness (or better put…impotence) of the 2010 Dodd-Frank Act, and the need to bring back the effective Glass-Steagall Act from  former Wall Street insider and highly acclaimed author and speaker, Nomi Prins.  Ms. Prins recently delivered a recorded video message to the attendees of the Schiller Institutes 30th Anniversary.  Her message centers on unveiling the ineffectiveness of the Dodd-Frank Act, and the need to bring back or reconstruct a very close version of the Glass-Steagall Act in order to preserve the banking system FOR THE PEOPLE….NOT THE BANKS! Read more

GMS Business Consulting 302 Comments

The Volcker Rule…Update

Photographer: Andrew Harrer/Bloomberg

 

Good Morning!  Just a brief update to the previous post regarding the Volcker Rule…Volcker himself said he didn’t help write the rule that is now in place.  Surprised…we’re not.  Here’s the Bloomberg Article that discusses this in general.  Having the Volcker Rule is certainly better than leaving things as they were.  However, it just begs the following questions: Read more

GMS Business Consulting 328 Comments

The Volcker Rule

Bloomberg

Bloomberg

 

Hello Everyone!

Oh, you’re going to appreciate this…The article on Bloomberg today hits it right on the head.  It really makes one ask in a serious, not joking way, can congress and our leadership in its current state really solve anything that isn’t tainted with special interests?  The answer is obvious.  Expecting or hoping that congress can take a simple concept and translate it into a clear identifiable and enforceable law or set of regulations that is in the best interest of “we the people” is becoming futile.  Case in point…in the late 90’s under the leadership of President Clinton, the Glass-Steagall Act was repealed.  Fourteen years later after the consequences of that decision by our government, they decided it wasn’t such a good decision after all… Read more