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Re: OPERATION COOPTATION *LINK*

By Mark Gongloff

The Volcker Rule: switch a few letters here and there and you have VOLDEMORT, which is how Wall Street feels about this piece of regulation, unveiled on Tuesday.

Banks are naturally terrified that the politicians they constantly smother with money are suddenly going to try to trim that money flow, because there’s only so much money they can spend, darn it.

Wait, no — banks shouldn’t be worried about that at all. At least that’s the message derived by Peter Tchir of TF Market Advisors from his initial glance at the Volcker Rule:

The Final Draft of the Volcker Rule was published for comment at the end of September. Even skipping our traditional rant about government bureaucracy, it is a document over 200 pages long, in which the word “exemption” occurs on no less than 100 pages (it is used 426 times in total). At a quick glance, each section starts with a fairly draconian statement. Then each subsection waters down the bold initial statement with exemption after exemption. As we began the daunting task of trying to make sense of these rules and what they might mean in practice, it became clear there was little point in rushing to do the work.

Why is working through this doc largely pointless? Because it is unlikely to ever be implemented in anything that resembles the current form. The rules are meant to be in a final form by July 21, 2012. Assuming that deadline is met, the banks then have 2 years to conform with the provisions and can petition the board for up to 3 additional 1-year extensions. Which brings us to July 21, 2014 at the earliest, and possibly July, 2017. Whether or not there is a new government in place before the 2014 deadline, there will certainly be another administration and president in place by 2017. Whatever the banks ultimately have to live with, it is highly unlikely that it will resemble this. If the Basel Accords are any indication, the battle to water down the rules will continue up until the last minute.

And barring another financial crisis in the next couple of years, it doesn’t seem much of a stretch to think that the battle to water down the rules could be pretty successful.

Financials are leading the market higher today, up 2.2% in the S&P 500.

Messages In This Thread

Rothschild & Freshfields founders linked 2 slaver *LINK*
Re: Rothschild & Freshfields founders linked 2 sla
Re: Rothschild & Freshfields founders linked 2 sla
Only Scythians are allowed to collect scalps... *LINK*
For Africans an apology will suffice. *NM*
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Featherless Vultures *LINK*
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Re: Only Scythians are allowed to collect scalps.. *LINK*
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Re: Only Scythians are allowed to collect scalps.. *LINK*
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Iceland emerges without capitulating to bankers *LINK*
Re: Iceland emerges without capitulating to banker *NM* *LINK*
The Prince and his Consort were attacked today
This is COLD *NM* *LINK*
Icelandic measures might be necessary *LINK*
Re: Icelandic measures might be necessary *LINK*
Re: Icelandic measures might be necessary *LINK*
The making of Africa's Housing Crisis *LINK*
Re: The making of Africa's Housing Crisis *NM* *LINK*
Greece isn't all we have to worry about *LINK*
Re: Only Scythians are allowed to collect scalps.. *LINK*
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The "Unforgivable Blackness" of Lebron James.
Re: Only Scythians are allowed to collect scalps.. *LINK*
THE CHOSEN ONE *LINK*
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The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
Re: The "Nature" of the Semite. *LINK*
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Re: The "Nature" of the Semite. *NM* *LINK*
Re: Rothschild & Freshfields founders linked 2 sla *LINK*
Re: Rothschild & Freshfields founders linked 2 sla
Re: Rothschild & Freshfields founders linked 2 sla *LINK*
Goldman Sachs *LINK*
Re: Goldman Sachs
Re: Goldman Sachs
Re: Goldman Sachs
Cash for Gold...
A.I.G. Credit Default Swaps... *LINK*
If the public wont accept your choice... *LINK*
not sure if this is connected . . . *LINK*
Re: not sure if this is connected . . .
"PAY TO PLAY" at the expense of U.S. citizens *LINK*
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Why no punishment for CEO greed *LINK*
Extreme Capitalism *NM* *LINK*
Re: Extreme Capitalism *LINK*
Former V.P. Dick Cheney has heart transplant *LINK*
Where will this "Innovation Explosion"...
gee whiz, kween...
Nothing ventured, nothing gained *LINK*
Re: Nothing ventured, nothing gained *LINK*
No Guitar Superhero! *LINK*
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Re: No Guitar Superhero!
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Viva Chavez *LINK*
One man's vision; gotta love those Capricorns. *LINK*
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less glamorous and brilliant *NM* *LINK*
Re: less glamorous and brilliant
Re: less glamorous and brilliant
Re: No Guitar Superhero! *LINK*
Vox Idiotai!
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Re: Vox Idiotai!
The Problem with Socialism...
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A time to sow... *NM* *LINK*
A Dutch with the name KOCH... *LINK*
Tea Party Financiers Owe Their Fortune to Stalin *LINK*
re: *NM* *LINK*
The "Kochtopus"
Why Obama is a radical? *LINK*
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The Billionaires Bankrolling the Tea Party *LINK*
Reclaiming the Dream and Brand Obama *NM* *LINK*
Re: The Billionaires Bankrolling the Tea Party
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Re: The Billionaires Bankrolling the Tea Party *LINK*
How to change a liability into an asset... *LINK*
Re: How to change a liability into an asset... *LINK*
Re: The Billionaires Bankrolling the Tea Party *LINK*
A tea party message in Patriot Act defeat *LINK*
a DHS response . .. *NM* *LINK*
Re: A tea party message in Patriot Act defeat *LINK*
U.S. Is Set to Sue a Dozen Big Banks *LINK*
Re: U.S. Is Set to Sue a Dozen Big Banks *LINK*
Re: U.S. Is Set to Sue a Dozen Big Banks
Re: U.S. Is Set to Sue a Dozen Big Banks
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Wall St. shifts away from Obama *NM* *LINK*
Another eye-opening phrase... *NM* *LINK*
Re: The Problem with Socialism...
The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
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We live in an Information Age
Re: We live in an Information Age
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Re: We live in an Information Age
Re: We live in an Information Age *NM* *LINK*
Re: We live in an Information Age *LINK*
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The Empire needs slaves... *LINK*
Re: The Empire needs slaves... *LINK*
Re: The Empire needs slaves... *LINK*
Re: We live in an Information Age *LINK*
more centrism . . . *NM* *LINK*
Re: more centrism . . . *LINK*
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The war for drug money? *LINK*
Foundational Change for... *LINK*
Re: Foundational Change for... *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Argentinians Advice to Greeks *LINK*
Re: Argentinians Advice to Greeks *LINK*
Lets see how long Holder stays in office... *LINK*
Re: Lets see how long Holder stays in office... *LINK*
What's the penalty for crimes against the State? *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
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Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *NM* *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
Re: What's the penalty for crimes against the Stat *LINK*
chorus calling for Eric Holder’s resignation *LINK*
Re: more centrism . . . *LINK*
Re: more centrism . . . *LINK*
Re: We live in an Information Age *LINK*
Re: We live in an Information Age
Re: We live in an Information Age
Re: We live in an Information Age *LINK*
What can happen when we use information... *LINK*
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed
Re: The Scion vs The Seed *LINK*
Re: The Scion vs The Seed
Re: The Scion vs The Seed
stem cells vs progenitor cells
please elaborate...
Re: please elaborate...
Re: stem cells vs progenitor cells *LINK*
Re: The Scion vs The Seed
Pirates of the Caribbean
Re: The Scion vs The Seed
Postal Style Healthcare *NM* *LINK*
Update
Re: Update *LINK*
Re: The Scion vs The Seed *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism... *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *NM* *LINK*
Re: The Problem with Socialism...
Re: The Problem with Socialism... *LINK*
Yuh get nothing, and yuh like it! *NM* *LINK*
Re: Vox Idiotai! *LINK*
Re: Vox Idiotai! *LINK*
Health Care and Radical Monopoly *NM* *LINK*
The Next Wave *LINK*
Warren Buffet: Voice in the Wilderness? *LINK*
Re: Vox Idiotai!
Re: Vox Idiotai! *LINK*
Re: Vox Idiotai!
Re: Vox Idiotai! *NM* *LINK*
Great Observation
Naive but principled.
OPERATION COOPTATION *NM* *LINK*
Re: OPERATION COOPTATION *LINK*
American Idol? *LINK*
Re: American Idol? *LINK*
American made ... Chinese owned *NM* *LINK*
Re: gee whiz, kween... *LINK*
Separate and Equal *LINK*
Re: Separate and Equal *LINK*
History's Lost Black Towns *LINK*
Re: Where will this "Innovation Explosion"... *NM* *LINK*
Re: Where will this "Innovation Explosion"...
Wall Street Sees World Economy Decoupling From U.S *LINK*
Re: Wall Street Sees World Economy Decoupling From *LINK*
Re: Where will this "Innovation Explosion"... *LINK*
Re: Where will this "Innovation Explosion"... *LINK*
Re: Goldman Sachs *LINK*
Goldman Sachs vs Michael Jackson *LINK*
Re: Rothschild & Freshfields founders linked 2 sla *NM* *LINK*


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