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Leading US Retirees 'Like Lambs to the Slaughter,' Trump Labor Dept. Quietly Offers Up 401k Plans to Private Equity Vultures

Yes, we can bring back regulations to wall street and banks and install severe penalties.
We can claw back.
We can beef up manpower at SEC.
We can divide up the federal prosecutors office in NYC for criminal, financial, international (gitmo) crimes. Each would have its own appointed lead prosecutor plus staff.
Heck, Chicago fed prosecutor should be whacking CME.

Banks back to within their state border is a good start.

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Anything that existed in 1998, when the ceiling was established, See the Understanding below as well as the Annex on Financial Services- a companion document that has a lot of bearing on Social Security and Medicare…

Here is the Understanding and its standstill and associated - need to read it.
~https://www.wto.org/english/docs_e/legal_e/54-ufins_e.htm

(see under standstill?)
its possible they might be able to bring back, unless its been deregulated since then. Kind of circular logic. 1998 is a ceiling for FS regulation. (Thats very bad for health insurance, thats for sure) So ACA, Dodd-Frank, Sarbanes-Oxley all are under a cloud… thats my understanding of it.

In 2010 they were able to have an emergency response and they probably created some temporary FS regulations in response to it many countries did, but they are supposed to be limited. In 2016 or 2017?(?) in Huangzou (sp) at the G20 meeting countries pledged to end the temporary FS REregulation, the protectionist measures they enacted in 2010, in the wake of the crisis, soon.

You seem like somebody who could use some of the stuff Ive found much better than I could. I have tons of links on my web site to stuff about financial services deregulation in various contexts. Little of it seems to be known here.

For example, what do you make of this story?

~https://www.citizen.org/documents/FinanceReregulationFactSheetFINAL.pdf

the important missing part of the story above, which was mentioned but is only provided in another document, and not pointed out, maybe out of politeness, let me do that for you here and now…

This was filed in late February 1998.

the line I want to direct you to is at the end, of the specific committments additional paper, supplement 3 the line about reforming the Glass-Steagall-Act the next year.

~http://www.esf.be/pdfs/GATS%20UR%20Commitments/US%20SoC%20Supplement%203.pdf

Also read this, its a good discussion of the implications of some of this for us but predates the crisis…

~https://www.citizen.org/documents/GATS-financial-dereg.pdf

What was that hero at SEC’s name, the guy who gave a talk last year or so ago?

they made a movie about his investigation. he was a pretty good speaker. I’ll try to find the link. I found it on Wall St on Parade, the web site.

His talk was about the real case behind the hollywood movie.

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Local Hospital (where a friend of mine works) just told their entire staff that the Hospital will not be contributing to employees 401k any longer. They’re on their own.

This is the same Hospital where the nursing staff is not provided N95 masks.

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The first kickback scheme that comes to my mind is a pension fund that has 20 companies as clients. It then invests 5% of the retirement money in each company’s stock. The company boards of directors are all happy because their stock goes up, and the pension fund gets a cut of the money for its investment wisdom.

The problem comes when a company is ravaged by a vulture fund. The vulture fund takes over the company, rings up stupendous debts, pays itself massive stock dividends and finally runs away. Then the company has maybe a 50% chance of going bankrupt because of its stupendous debt load. So the company goes belly up, all of the former employees lose their health insurance and now their invested pensions shrink too from the bankruptcy. Really, the vulture fund took the employees’ stored-up health insurance and retirement money and re-distributed it as dividends to the stockholders. Then when the company failed, the vulture fund tried to look innocent.

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Exactly so. Like anything else, theft is specialized.

Both political party’s exist only at the service of the American voting public. This is why Thomas Jefferson thought education to be of foremost importance in a democracy, and established the institution of public education. Education to him was more important than the democracy itself, which could not exist without it. This is also why democrats and republicans are deliberately de-funding public education decade after decade, they could not hold power if the public was half intelligent and half educated. Fortunately for them both, that is not the case. Eventually the organized crime syndicate that our government has become will eventually, given enough rope, hang themselves. What happens after that wont be pretty either if it is left to bunch of uneducated Monday night football addicts and frightened white church folk to decide our future

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I forgot to mention credit unions and co-operatives as good financial solutions for regular peoples.
Local control, local resources, quick approvals - even real estate!
i will visit the site now.

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Don’t they have a union? They have been doing that for a long time to non-union staff.

Indeed, because church meetings are structured so you can’t disagree or ask questions. Even when the topic is political and bold faced lies.

Are they allowed to buy and bring their own masks, or is this the one where they were told it made patients uncomfortable ? (I would think it would be the other way around, actually, but- whatever)

Great post. These are token economies and are similar to how cap and trade is to pollution. It creates an economy for the worst elements. M4A is a token economy too, these are usually used for training purposes. I guess a good question would be, what are we learning.

I didnt give you my url, my site is http (only) policyspace dot xyz I am told Google Chrome now tries to discourage people from visiting because I dont have TLS set up, screw em, regular http is not a security risk.

Most of the FS content is in the form of either links (by far the most are links and are found via the keywords on the left or search Also, I have saved lots of files in the documents directory but there is very little in the way of metadata on them yet, and some duplicate links - so you should feel free to just browse and maybe the filenames will be informative enough to figure it out. Almost all of them are worth reading if you are interested in the capture of our country’s democracy.

Nope.
And, many of the nursing staff are Trump supporters and would never join one.
Luckily this place is out of my range so I’ll never have to go there

Exactly so. They are not allowed to bring their own.

This is what my nurse friend has to do

~https://i.imgur.com/q3KmGR1.jpg

Good thinking.

i read the gats pdf from clinton years. not sure if all that detail is still valid.
but
federal reserve under Janet Yellen wanted to take control of the large insurance companies. Mentioned was NY Life. Previously from the 2008 economic collapse, the federal reserve took wall street under its power.

Decentralize works for every element in our lives. Meat cutting at the local corner store instead of a 600 employee slaughter / final cut and package building. Military supplies spread out instead of being concentrated in a massive warehouse in France. Having a neighbor at the banks cashier window instead of some one from southern asia on the phone. etc.

My friend works in this environment every day.

Normally, I would say strike or challenge the authority, but if it is Trump country, I would say look for another job. Even in CA the dividing line leaves a lot of people out. I saw this in community care facilities years ago. It does affect patient care as well.

Edited: couldn’t get that link to work, just to let you know

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Funny how the politicians are all against defunding the police (who protect them and their oligarch owners) but are just fine with defunding everything else as such defunding allows them to steal it all from the citizens.

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