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'Big Banks Couldn't Be Happier': Stocks Surge as Trump Regulators Gut Restrictions on Risky Wall St Gambling

Originally published at http://www.commondreams.org/news/2020/06/26/big-banks-couldnt-be-happier-stocks-surge-trump-regulators-gut-restrictions-risky

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The wealthy are done feathering their nests. They don’t give a shit if the whole thing comes tumbling down now. As a matter of fact, they prefer it. That way we will all probably be too busy trying to survive than to chase them down and kill them for what they’ve done.
We are in end stage capitalism.

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Time for the TBTF banks to “invest” in more Collateralized Loan Obligations.
Because if heads-I-win-tails-you-lose worked well in 2008-9, it’ll be gangbusters circa 2020-1.

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Recognizing that the end of Trump is very, very likely coming soon, he and his repub henchman and enablers are really going after the destruction. The greed and the need for immediate gratification of the corporate rich are at their height, regardless of outcome.

And it’s across the board, whatever the economic pursuit or institution.

And Dems who remain silent are complicit if not supportive of what is happening - hear that Nancy Pelosi, Chuck Shumer, and Joe Biden.

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The whole stock market system is a criminal enterprise. There is no way that you can make money from nothing unless it is being stolen from someone else. In the case of stocks it is the workers who are being stolen from. It is one thing if you choose to make a loan to someone who agrees to it, but workers have little to no say and if they had a choice they would rather be paid more than investors taking a cut of their labor for no reason other than to be a fucking greedy parasite. The whole system needs to go.

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They are all cashing in. Diane Feinstein to use one example is one of the biggest war profiteers in Congress. She invests heavily in defense industries and votes for every war and military budget she can. They are beyond complicit, they are in on the game of stealing everything from the citizens they pretend to represent.

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Because traveling through the fog at a high elevation is always a good time to turn off your running lights and cut your brake lines.

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Why wouldn’t we see a repeat of 2008-9? It was extremely profitable, with only minor penalties and no jail time for the perpetrators, thanks Obummer and Holder, your legacy lives on.

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I’m still awaiting a list of corporations that got billions in government handouts. … Dims do you know?

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fyi -
~https://www.youtube.com/watch?v=UJi2RnikNh4

and then they can blame the dems when they come into office. Hopefully the dems will get their game on and counter the attacks when they first get in office. Play defense early on.

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Yes, at least half the nation is accelerating into a pandemic despite what the governors of Florida, Texas and Arizona want voters to believe – “Open for Business, Disney World Is Next!” Their PR illusion is likely to fall hard within about two weeks because the pandemic is exploding that fast!

On the Street, the Trump administration is pulling its last available strings to artificially pump up the stock market. Driving the prime interest rate below 0% is kind of hard, so the Fed is aggressively buying up credit in order to try to force everybody into buying more stocks, at least until Tuesday, November 3. It’s called socialism for the wealthy, doing for wealthy investors what the actual risk-taking market isn’t about to do because they at least think that they aren’t that stupid.

Which brings us back to how we measure functional stupidity these days.

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Just another mile marker on the fascist highway.

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All of Trumps deregulation locks in* and Dems are hiding that.

*because of treaties.

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In 2008, people on both the left and the right were mad as hell about the bailouts.
If there’s another 2008 and the big banks get bailed out again, Americans will be visiting Washington, DC, this time, the right-wingers will bring their guns.

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Some additional details and sources would help clarify your claim.

Trade agreements contain principles like “progressive liberalization” which only allow progress towards liberalization, they dont allow the reverse. Especially if commitments have been made in a service sector. Also they often contain clauses like a “standstill clause” which is usually associated witha “rollback” and a date.

Another similar concept is a “ratchet clause” Another phrase thats often used is that of freezing the “autonomous level” of liberalization. That means the level of liberalization on the date they enter into an agreement and whenever that level is increased, locking it in place as the new ceiling for regulation, in this way the allowed level of regulation keeps falling with the endpoint being every regulation of concern for business having been gradually ratcheted (throttled) out of existence. So its very much like a noose for once-public services (which are framed as regulation, with only a small exemption for pre-existing services of an entirely noncommercial nature (completely free) that also have not even a single commercial competitor. many might pass the first prong of the first but fail on the second. So all of them are basically doomed. Even the UK’s famous NHS fails because the UK also sells commercial health insurance. It turns out that this indeed was their intent from the begining but they seem to be denying it.)

You can see an example of the autonomous level phrase (this is a modern usage of this concept) phrase in use near the top here.

~http://data.consilium.europa.eu/doc/document/ST-6891-2013-ADD-1-DCL-1/en/pdf

This paper also explains a lot of these concepts

~http://www.pnhp.org/sites/default/files/Nick%20Skala%20GAT%20and%20Health%20Reform.pdf

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This financial house of cards continues to climb skywards, even though there’s no
“there” there. Fiat money is being shoveled to large “investors” on a scale dwarfing
2007-2008,

All of this has nothing to do with rhe real economy. This is just about inflating the
balloon as much as possible in order to keep the stock market up until November.
Unless one is in the rop 10%, in Dylan’s words, “A hard rain’s gonna fall”.

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And today banks stocks are down a lot.

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From now to November expect the republicans, conservadems and neolibs to go for broke and rob the country blind as it does appear Trump will lose in November. And badly, Biden is no bargain. Biden would have a hard time winning even if he were the only candidate, in fact, he sounds as if the Clinton/Obama administrations downloaded the content into his brain that he’s now spewing out. So brace yourselves for another Clinton administration (Obama, nah, he never called the shots, he was just managed.).

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