Pig In A Poke

This week I wrote four good posts. Unfortunately, those that need to read what I wrote most, will never see it, and those that do see and read it are not in a position to influence Congress or the administration. This stuff, as I have written many many times is not complex or difficult, but there is a lot of money at stake. When there are many chips on the table and the stakes get high, people pull out all the stops and go for broke, especially if their life style depends on it.

The firms that create and trade the investment securities need regulation. They know it, but they resist because there are afraid their competitors might find an edge and beat them to the pot of gold. There is a lot of detail work involved in good regulations and Wall Street is afraid that government does not have the knowledge of the investment securities industry to write the kind of regulations that will reign in risk taking, yet at the same time let the free market keep the corporations, that issue their equity and debt obligations, honest.

This thing is a double-edged sword. If you come down too hard on Wall Street then the corporations that issue equity (stock) and borrow through issuing debt (bonds) take advantage of the situation and withhold vital information about the profitability of their corporation. This is not a good situation either. Information needs to be out there, and the markets need to be free to react by either buying or selling the investment securities of the corporation in question. Giving corporations, that use Wall Street to raise capital (whether issuing more equity or borrowing in the debt markets), an edge to keep silent is not a good option either. There needs to be a balance so neither is left holding a pig in a poke.

Stay tuned.

Added Comment on President Obama and the Nobel Peace Prize:

It is pathetic that there are Republicans, and other brain dead assholes out there, that can not accept their President winning the Nobel Peace Prize. You have to ask yourself, what do they fear from Obama's presidency? One thing for sure is that compared to the last several Presidents, this man has it all over them. Even Bill Clinton doesn't measure up in my opinion. I don't know if all the fault finding by his opponents with this talented and decent man, will even wake up independent fair minded people to the unfairness of these attacks, yet I sure hope so. He has been in office less than one year and his opponents, who are against government involvement in the economy, are saying he hasn't done enough to create jobs, while all the time speaking and voting against the Stimulus Package. What the Republicans really are afraid of, is that he will set the bar so high, that their next presidential candidate will have to talk and act like he/she has a brain, and knows how to use it.