Why did the BUSH SEC hold back the broker rules?

[Truthmatters]

Timing and Temporary Exemption
As adopted, Regulation R provides banks with a transitional exemption until the first day of their first fiscal year commencing after Sept. 30, 2008. This will give banks time to make any necessary changes in their systems and compliance programs and should ensure that banks have time to come into compliance with the Exchange Act provisions relating to the broker definition. This exemptive rule will become effective on the date that the Commission's current order expires, Sept. 28, 2007.




this is also on that SEC release.

 

[TNHarley]

I guess greed. If he even did. I cant find where HE did do it. Perhaps you can post some "evidence"?

 

[Truthmatters]

less than a week before that implimentation deadline Bush got up a nd announced our economy was going to Crumble

 

[Truthmatters]

[ame=http://www.youtube.com/watch?v=YsDmPEeurfA]President Bush Addresses Nation on Economic Crisis - YouTube[/ame]

 

[Truthmatters]

9/24/08

 

[Truthmatters]

This is How the banks were able to roll all the sub prime into their mortgage securities without being caught doing it.


They had compliant Brokers

 

[TNHarley]

So no evidence that held them for 8 years?
Even though it dont goddamn matter. He was just following the democratic suit

 

[Truthmatters]

your not saying anything that makes sense harley.


The broker rules were held back for eight years by the Bush SEC.

I proved that in the SEC release, that is what it says you fool.


Now why did the Bush SEC fight so hard for 8 years to keep them from being implimented IF they didnt matter?

 

[Truthmatters]

So I ask you all WHY?????????


Why did the Bush SEC do that?

what was their motivations?

 

[Truthmatters]

Timing and Temporary Exemption
As adopted, Regulation R provides banks with a transitional exemption until the first day of their first fiscal year commencing after Sept. 30, 2008. This will give banks time to make any necessary changes in their systems and compliance programs and should ensure that banks have time to come into compliance with the Exchange Act provisions relating to the broker definition. This exemptive rule will become effective on the date that the Commission's current order expires, Sept. 28, 2007.




this is also on that SEC release.

what part did the implimentations of these long held rules have on our economic disater that Bush got up and announced a coupld of days BEFORE the RULES HAD TO BE IMPLIMENTED?????????

 

[Truthmatters]

Brokers would have to TELL someone that the subprime was being put illegally into the mortgage securities and NO ONE was telling the buyer

 

[Truthmatters]

Remember all that triple A securities they sold that was tainted with subprime?

 

[TNHarley]

A goddamn link TM
Do you know what a link is?
Give me a fuckin link and I will answer your irrelevant question

 

[Truthmatters]

[ame=http://www.youtube.com/watch?v=YsDmPEeurfA]President Bush Addresses Nation on Economic Crisis - YouTube[/ame]

 

[Truthmatters]

Citigroup Paying $285 Million To Settle Charges Of Misleading Buyers Of Mortgage Securities

 

[Truthmatters]

A goddamn link TM
Do you know what a link is?
Give me a fuckin link and I will answer your irrelevant question

your not capable of answering

 

[editec]

Let me say this for the 10th goddamn time
I DONT KNOW I CANT FIND ANYTHING TO READ TO GIVE MY OPINION
try reading what I wrote ono your page
Jesus you really are fuckin dense
And I mean you put the d-e-n-s-e in dense

Perhaps this is what he's talking about?

Investor advocates urge SEC to enhance broker rules | Reuters

 

[Truthmatters]

What I am asking it why the Bush SEC implimented the Gramm Leach blieley act of 1999 which allowed the banks to sell securities for the first time since the passage of Glass Stegal act from the Great depression days.

when they implimented the Bill they held back the rules that involved the Broker rules for the banks.

So the banks could NOW sell seciurities but had no rules on Brokers.


Why did the Bush SEC do that?

what was their reasoning behind that move?


Not one person has EVER been able to answer that question in a away that makes sense

 

[TNHarley]

A goddamn link TM
Do you know what a link is?
Give me a fuckin link and I will answer your irrelevant question

your not capable of answering

lol you are a fuckin joke
Does the words truth matters mean anything to you?
YOu want em to answer a questiono for something you cannot provide proof that happened? And I dont have sound on my computer

 

[Truthmatters]

A goddamn link TM
Do you know what a link is?
Give me a fuckin link and I will answer your irrelevant question

your not capable of answering

lol you are a fuckin joke
Does the words truth matters mean anything to you?
YOu want em to answer a questiono for something you cannot provide proof that happened? And I dont have sound on my computer

Home | Previous Page







SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

In addition, the Commission also voted to issue a second