High Treasurer Revered and Feared:
Regarding your last Requiring Immediate Explanations on the reform of financial system advocated by the Conguito Naive, I assure you there's nothing worry. The lessons learned when we broke the Cursed Paralytic much of the harvest of souls with his "New Deal" and some other casual success, we have been very helpful. The economic team of the current imperial ruler is taken over by neocons constantly inspired by our most elite and experienced the hell of care.
As the proposed measures, and neat to know what can become, so I make a very brief summary of the two major threats and how we have turned off:
debt rating agencies .- The innovations are: 1) may be sued if it is "unwise" not to review key information about the credit quality grades. Always easy to "prove" that tried with the information they provided the client and had no means of knowing of the existence of any other. 2) Regulators should avoid references to his notes on their regulations to avoid excessive reliance on these companies, but nothing is said of the laws already in force (and of course, about the habit induced in the financial industry, graft and favors that drag each other in time and not audited in any way, or on the impossibility of imposing this legislation on the rest of the world, which, as the largest U.S. banks are globalized and need to continue to be evaluated by agencies to meet , among others, with European standards, making this part of the new legislation into mere verbiage.) 3) The SEC will two years to find a way to mitigate conflicts of interest with companies that hire them while they are valued by them (the obvious solution, the disappearance of private organizations for profit carrying out a function that should be public or not Unless, of course, is not even mentioned as a hypothesis). The idea here is to create a legal paste imitation of what we get with the Sarbanes-Oxley after Enron (whose result, as you may recall, was to generate even more business unprofitable for the audit that was nominally in control, thus increased inefficiency and polarization of the production system, our persistent goal). It is true that we have no facilities available to us under the administration of Puppetry Texan, but I think we have to face insurmountable difficulties, far from it. The mere statement that will seek to find ways to mitigate conflicts of interest of a corrupt activity by nature assures us victory in the stake (and incidentally, the added prestige to get the SEC in the process). I am particularly proud of how we handled this matter, which was the most dangerous. Take this opportunity to respectfully suggest the immediate removal to the soporific realms of Enemy of the devil by the president of Moody, who as know, a few weeks ago came to publicly acknowledge that the rating agencies were useless. In the meantime, I have introduced to punish the child based on carbon chemistry with the repetition of our seminar Advanced Cynicism "Banksters".
Banks 'too big to fail' .- 1) operations are prohibited by their own risk and limits the amount of their investments in hedge funds. Here, as you guessed, we have only to suggest the "restrictions easily solvable" in your course Apparent supervision. 2) Obligation to spin off some of its derivatives business if you want to access emergency funds from the Fed (of course, and I must admit that did not cost us anything, we get that no reference was made to funds and willing). Adjuntarte Let me just for fun in the few leisure moments you can have, a document defining what is understood as a derivative for this purpose. To give you an idea of \u200b\u200bthe wickedness of the text, may maintain "investment" interest rate swaps.
slavishly
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