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Author Topic: Hedge Fund Rules = Trade War Threat? Where are the jobs?  (Read 976 times)
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WhiskeyGirl
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« on: March 16, 2010, 08:06:41 AM »

In what world and universe do hedge funds trigger a trade war?  Large hedge funds with global fingers helped the financial collapse. 

Why would anyone want a hedge fund in their back yard? 

Why would they want the power of economic destruction, in the form of foreign hedge funds, operating? 

What value does a hedge fund add to any community or nation? 

Wouldn't everyone be better off without them?  Does it matter if they're foreign or domestic?


Quote
Europe Delays Hedge Fund Rules Amid Trade War Threat (Update1)
March 16, 2010, 7:22 AM EDT
More From Businessweek

By Tom Cahill and Ben Moshinsky

March 16 (Bloomberg) -- European finance ministers meeting today in Brussels opted to delay plans to discuss hedge fund and private equity regulation that would have risked a trade war by limiting access to the European Union.

Transatlantic tensions grew last week when EU financial- services commissioner Michel Barnier vowed to defend the proposals after they were criticized by U.S. Treasury Secretary Timothy F. Geithner. Geithner said in a letter to Barnier the new rules may discriminate against U.S. funds. The plan would force funds based outside the EU to accept the rules if they attract investors from the 27-nation bloc.

Quote
‘Going Backward’

“The big danger is that the protectionist aspect of the directive could spark a trade war,” said Andrew Shrimpton, former head of hedge fund regulation at the U.K.’s Financial Services Authority who now advises hedge funds at London-based Kinetic Partners LLP, an industry consultant. “It’s going backward.”

more here - http://www.businessweek.com/news/2010-03-16/europe-delays-hedge-fund-rules-amid-trade-war-threat-update1-.html

Hmmm...

We can't protect minimum wage American jobs from foreign countries that pay like $.05 an hour without any benefits or insurance.

Our anti-American administration/union central continues to send 'stimulus' money (borrowed at high interest rates from loan sharks) to foreign countries/nations to employ foreigners making like $.05 an hour without any benefits or insurance.

While at the same time, insisting 'we' have a responsibility to turn over all the fruit of our labor to support an ever increasing number of foreigners, their families, on our own soil or on foreign soil. 

No jobs for Americans.  No prosperity for Americans.  No happiness for Americans.

What do Americans get from Washington?  Perpetual debt.  Debt slavery for future generations. 

Unending financial pass-throughs for hedge funds, rich political contributors, big Wall Street banks, and foreign welfare recipients.

Who in Washington works for Americans?  Who's sober enough to make deals that benefit Americans?

Who's working on 'innovative financial products' that benefit Americans and not big banks and political contributors?

When did anti-American foreigners seize control of our government?

jmho

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WhiskeyGirl
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« Reply #1 on: March 16, 2010, 08:12:21 AM »

Quote
In a letter to internal market commissioner Michel Barnier, former MEP Poul Nyrup Rasmussen says the EU "should not be dictated by American considerations."

He wants Barnier to "show resolve in the face of concerted pressure" from US and UK lobbyists for the hedge fund industry.

The letter says, "We think the regulation of the hedge funds market should not be dictated by American considerations, as they are obviously aimed at protecting particular interests or specific privileged actors."

What particular interests or actors?

Quote
"So many people in Europe and the US who never had any connection to derivatives or exotic financial contracts had their lives hurt by the risks taken by financial actors."

more here - http://www.theparliament.com/no_cache/latestnews/news-article/newsarticle/eu-and-us-remarkably-close-on-financial-sector-reform/

Who's looking out for the little people on Main Street?
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WhiskeyGirl
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« Reply #2 on: March 16, 2010, 08:20:49 AM »

The Obama administration worries about the pennies the health insurance industry makes...and ignores the hedge funds and financial casinos that always seem to be destroying the nation.

One bubble after another.  Who's creating the healthcare bubble and debt in Washington today?

Who will benefit?  Not taxpayers or citizens.

The nation is broke.  And Obama continues to borrow money from loan sharks and raise taxes.
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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