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Meltdown Prevention?

President Barack Obama’s outgoing communications director Anita Dunn:

“At the end of the year, there’s going to be the toughest financial reform law signed by President Obama that we have seen in generations. And hopefully be able to prevent future meltdowns.”

How does one stop human behavior? Meltdowns, or bubbles growing and popping, are not new to 2008-2009. I wonder if the new regulations will stop the behavior in this video:

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4 Responses to “Meltdown Prevention?”

  1. Michael Covel Says:

    For those unfamiliar it is an old Twilight Zone episode excerpt. Love the ending. Maybe the new regulations will be like the aliens on the hill?

  2. DavosSherman Says:

    I, for one, wonder if the economy will make it to the end of the year. Also, after watching FrontLine’s “Warning” I’m hard pressed to believe there will be any regulation that will amount to anything.

    Not to mention, there are 600 trillion in derivatives out there, Tyler over at ZeroHedge pegs it at 1.6 quadrillion.

    Regulate that Obama.

  3. Dan K Says:

    Regulation, regulation, regulation!

    Don’t you feel so relieved now that the government is going to protect us from Wall Street?

    It’s funny how Banking and Insurance, the two most heavily regulated industries, needed the most government help.

    The new regulations probably were written years ago, but now the crisis is being sited as reason to pass the legislation.

    Already the insiders probably are gaming the system in anticipation of the new legislation. Does anyone know what will be included in the new regulations?

    Could someone please recommend a website (free or subscription) that has good information about potential legislation in Congress?

  4. DavosSherman Says:

    Dan K: Puplava over at FSN mentions it in general terms. John on his weekly netcast show understands bills well.

    Not a lot of detail but as I understand it the bankers move the hands that write the bills.

    Take care

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