Page 32 - Broadview Security System News Today : Breaking News, Live Updates & Top Stories | Vimarsana

There's a tendency in washington and journalism generally to say anything that means reform or has the word reform attached to it is somehow against the interest of big business. this financial reform, quote unquote, reform bill, is going to create essentially a too big to fail system that basically turns places like goldman sachs into the next fannie mae. a lot of these guys want this, they like to be in bed with big government, they like to socialize the risk out of their own -- off their own books, so the idea that somehow, simply just they're saying nasally things about wall street, that t...

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Regulations. i have a response from somebody on twitter who said, called me an idiot for the description. i thought it was pretty good. whatever. let's hear from the white house. austin goolsbee is the chief economist on the president's economic recovery advisory board. in other life, university of chicago. smart guy. clearly not something i was accused of being moments ago. i'm trying to find analogies and trying to describe these things to people. >> welcome to my world. i hear it all the time. >> i talked to judd gregg earlier. there is what i think some legitimate concern out there that, a...

Instruments can't go directly on an exchange and if you force everything directly on exchange immediately you're going to end up with these instruments going overseas. and that sort of cuts off our nose to spite our face. there are other problems with the bill also but that's where the essence of the debate is. the fact that you would have to spin off your swap from some of these entities is another question. how do you do that? who ends up doing swap tests. doesn't that make the system a little less stable when you spin them off? there are big issues right there. >> senator, i want to apologi...