2016 Postmortem
Related: About this forumHillary's top donors moved billions in trades beyond CFTC's reach
http://www.reuters.com/article/2015/08/21/usa-banks-swaps-idUSL3N10S57R20150821...
The missing transactions reflected an effort by some of the largest U.S. banks - including Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Morgan Stanley - to get around new regulations on derivatives enacted in the wake of the financial crisis, say current and former financial regulators.
The trades hadn't really disappeared. Instead, the major banks had tweaked a few key words in swaps contracts and shifted some other trades to affiliates in London, where regulations are far more lenient. Those affiliates remain largely outside the jurisdiction of U.S. regulators, thanks to a loophole in swaps rules that banks successfully won from the Commodity Futures Trading Commission in 2013.
Source
DanTex
(20,709 posts)virtualobserver
(8,760 posts)Armstead
(47,803 posts)"Gensler stepped down from the CFTC at the end of 2013. This April, he was named an economic adviser to Hillary Clinton's 2016 presidential campaign."
Response to DanTex (Reply #1)
Corruption Inc This message was self-deleted by its author.
djean111
(14,255 posts)I think this is another case of some insulated people thinking the rest of us are too dumb to do the due diligence.
This sort of thing is what determines my support - not folksy TV ads that I just click right through.
On Fri Sep 4, 2015, 08:28 AM an alert was sent on the following post:
Hillary's top donors moved billions in trades beyond CFTC's reach
http://www.democraticunderground.com/1251569814
REASON FOR ALERT
This post is disruptive, hurtful, rude, insensitive, over-the-top, or otherwise inappropriate.
ALERTER'S COMMENTS
Over-the-top.
You served on a randomly-selected Jury of DU members which reviewed this post. The review was completed at Fri Sep 4, 2015, 08:47 AM, and the Jury voted 1-6 to LEAVE IT.
Juror #1 voted to LEAVE IT ALONE
Explanation: Based on facts. Also a fact that HC has close contact with these banks, garnering high speaking fees for her..
Juror #2 voted to LEAVE IT ALONE
Explanation: Not over the top. The truth. Due diligence.
Juror #3 voted to HIDE IT
Explanation: This is over-the-top drivel, the logic is insane, and the post is flame bait. It's an old RW meme. Hillary has nothing to do with Goldman Sachs moving money offshore decades ago. These are the bash OPs that are driving good Democrats away from DU, and should be hidden.
Juror #4 voted to LEAVE IT ALONE
Explanation: Looks like news to me. Are we to suppress bad news?
Juror #5 voted to LEAVE IT ALONE
Explanation: Worthy of discussion. Leave it.
Juror #6 voted to LEAVE IT ALONE
Explanation: No explanation given
Juror #7 voted to LEAVE IT ALONE
Explanation: The OP is starting some really spurious connections between the article and Clinton, but I don't think it is hideworthy.
Thank you very much for participating in our Jury system, and we hope you will be able to participate again in the future.
Metric System
(6,048 posts)think
(11,641 posts)davidpdx
(22,000 posts)davidpdx
(22,000 posts)You can't label Reuters right-wing as it is a major wire service. A chart was added with the source given. None of it was right wing.
Your claim is the jury system failed. How was this against the rules? Please proceed..........
Who is driving good Democrats from DU?
Got a mirror at home?
No kidding
Metric System
(6,048 posts)L0oniX
(31,493 posts)Demeter
(85,373 posts)Because it's so not-to-be-done, alerting on a factual account of real events.
Perhaps the alert system should be shut down until after the election, and the moderators personally take out the obvious TOS violations.
davidpdx
(22,000 posts)We've heard crying about "swarm alerting" from a particular group when it appears that's exactly what this was. I personally (and I know others have said they support this as well) think the person who is alerted on should get the results of an alert regardless of whether the jury votes to hide or leave a post.
In terms of moderators, I am afraid there would still be a bias with that as well.
Romulox
(25,960 posts)Metric System
(6,048 posts)LiberalArkie
(15,730 posts)davidpdx
(22,000 posts)restorefreedom
(12,655 posts)wow. just wow.
davidpdx
(22,000 posts)snip
Many of the CFTC employees who were lobbied in these meetings went on to work for banks. Between 2010 and 2013, there were 50 CFTC staffers who met with the top five U.S. banks 10 or more times. Of those 50 staffers, at least 25 now work for the big five or other top swaps-dealing banks, or for law firms and lobbyists representing these banks.
snip
In 2009, President Barack Obama tapped Gary Gensler, then 51 years old, to chair the CFTC. Liberals grumbled about Gensler's résumé. The son of a cigarette and pinball-machine salesman in working class Baltimore, Gensler, at 30, had become the youngest banker ever to make partner at Goldman Sachs.
snip
Gensler stepped down from the CFTC at the end of 2013. This April, he was named an economic adviser to Hillary Clinton's 2016 presidential campaign.
Armstead
(47,803 posts)Gensler stepped down from the CFTC at the end of 2013. This April, he was named an economic adviser to Hillary Clinton's 2016 presidential campaign.
think
(11,641 posts)http://www.reuters.com/article/2015/08/21/usa-banks-swaps-idUSL3N10S57R20150821
KoKo
(84,711 posts)Divernan
(15,480 posts)Juror #3 voted to HIDE IT
I believe that the alert system carries a warning to jurors that abusive language will not be tolerated in their comment section. I think lying that actions which took place in 2013 or later took place DECADES AGO would constitute a violation of the jury system.
davidpdx
(22,000 posts)I'd bet almost 100% the admins wouldn't agree with that. The explanation falls under the category of stupid and dishonest for sure, but I highly doubt it would be considered abusive.
azmom
(5,208 posts)We are to believe she would be the champion of the middle class. What a joke.
George II
(67,782 posts)Look at the 2nd and 3rd columns of BOTH charts! Clinton's contributions are almost exclusively from INDIVIDUALS but Sanders' contributions are almost exclusively from POLITICAL ACTION COMMITTEES!
Clinton has been living in New York for about 15 years, Sanders in Vemont for 30+ years. Of course many of Clinton's contributions are going to be from INDIVIDUALS who work at fnancial organizations - New York is the financial capital of the world. How many Citibank branches are in Vemont? ANY?
You guys keep dwelling on where Clinton's contributions come from.
Why don't you check where contributions come from for some Iowa or Nebraska office-holders? Bet you'll find a whole lot of farm workers.
I know the NEXT response will be, "well, the bank executives are pressuring tellers to contribute to Clinton", which is total hogwash.
My father worked for Citibank (before Citicorp), my sister for Chase, and I worked for Bank of New York. NONE of us were ever asked to make contributions to any candidate. It's illegal. And if you don't think there isn't a single person out there "pressured" to contribute that hasn't contacted the FEC, you're deluded.
Pathetic that this has to be posted every month here, and equally pathetic that people don't take a few minutes to familiarize themselves with Federal Campaign Finance Laws.
L0oniX
(31,493 posts)I'm sure some of us will keep that in mind when viewing your posts.
George II
(67,782 posts).....and my father died 11 years ago after ALSO being retired from a career other than banking.
Thanks for letting us know you have no class.
I'm sure some of us will keep that in mind when viewing your posts, although I knew it before this one anyway.
Response to George II (Reply #32)
Babel_17 This message was self-deleted by its author.
L0oniX
(31,493 posts)jwirr
(39,215 posts)does that London bank get to fail or will it just be the American banks?
BlueStateLib
(937 posts)reducing leverage 4 fold. A 2008 melt down is very unlikely
The six largest U.S. banks have improved their Tier I common capital ratios over the last two years. While all these banks have already surpassed their CET1 ratio targets as proposed by the Basel committee something they need to achieve by the end of 2019 some of them are in significantly better shape in terms of capital structure compared to their peers. Notably, JPMorgan is the only bank which falls short of its capital target under the Feds more stringent requirements.
Demeter
(85,373 posts)I wouldn't bet any money on:
1) no meltdown in the next 5 years
2) no bank failures
I especially wouldn't bet my money on a bank account with Chase, B of A, or any of the other big 6. Because there isn't going to be another bailout. It will be bail-ins, all the way.
mmonk
(52,589 posts)Romulox
(25,960 posts)SoapBox
(18,791 posts)Fuck those that support them too.
hifiguy
(33,688 posts)and to hell with their paid enablers and apologists in BOTH parties.
Skwmom
(12,685 posts)ericson00
(2,707 posts)they're evil, I tells ya! No more private property! Sanders '16