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Author Topic: "Soros: Global Deal Needed to Set New Financial World Rules"  (Read 877 times)
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WhiskeyGirl
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« on: November 01, 2009, 09:49:39 AM »

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BUDAPEST (Reuters) - International controls over capital movements and new global playing rules are needed to reinvent the global financial system, billionaire investor and philanthropist George Soros said on Friday.

"That is what a new Bretton Woods conference could accomplish," Soros told a lecture. "It would decide how to treat financial institutions that are too big to fail and it would consider new rules to control capital movements."

http://abcnews.go.com/Business/wireStory?id=8956532

I wonder how much the job rotation between the Treasury, Federal Reserve, Wall Street, and Washington impacted the financial failure?

How would life in these United States be different if the CRA never happened?  Derivatives were a no-no?

If the post Great Depression financial reforms/regulation hadn't been destroyed and weakened over the past 30 years? 

What if Barney Frank had worked to reform Freddie/Fannie years ago, instead of saying they were sound?

Does it matter what system is in place if there are conflicts of interest?

I seem to recall that China has a lot of financial firewalls in place.

Where are the firewall in the US that protect taxpayers?  Future generations?

Where are the regulations that prevent conflicts of interest, favoritism, and nepotism from affecting our financial system?  Tresury?  Federal Reserve?  Wall Street?  Congress?

How's that robust audit of the Federal Reserve coming along?

Are there any rules/new deals that work when there is corruption?  Favoritism?  Nepotism?  Secret wheelling and dealing?
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