Florida State Seminoles

[eCat]

Not sure how this is going to affect anything, if somebody gets upside down on a huge trade, their margin is wiped out anyway. It's what they lose over and above that that I'm worried about...

Derivatives traders should be prepared to lose the initial margin they post at clearinghouses if it’s needed to prevent a financial crisis, global markets regulators said.

The “margin is likely to constitute a very large pool of assets which would, if it can be used, provide a high degree of loss-absorbency” to help stabilize a central counterparty, or CCP, the International Organization of Securities Commissions and the Committee on Payment and Settlement Systems said in a joint report published today.

http://www.bloomberg.com/news/2013-08-1 ... s-say.html

The Dodd Frank rules regarding clearing (some) derivatives in a Clearinghouse form is a very good thing for transparency on exposure and pricing. I definitely don't have a problem with it. The costs are higher, obviously, so the big question becomes what do foreign banks do. They have no clearing rules in those markets yet, so if they avoid US banks (good luck, but not impossible) as counterparties in their derivative strategies then they are clear of Dodd Frank. That may hurt the bottom line of some US banks...potentially.

Knowing Europe, though, they will come out ultimately with regulations that look like French tax rules and make everyone rush back to the US structure.

I don't see how transparency changes the risk because, as we have seen, nothing can be enforced even if known. I know American banks would probably lose profits to Euros, but they also lose the risk. Besides, what Europe is going through with their banks I would be surprised if they don't have some regulation themselves when it is all said and done with.

I'll try to find the video from the daily show on comparing US Banks to Canadian Banks. It was eye opening.

[eCat]

[youtube]a21n_VzHI_o[/youtube]

[Owlman]

funny

[Bklyn]

Video no longer available.

Yeah, Canadian banks are deliberate and risk averse, but how many Canadian bankers make $150 million in one year? Suck it Canada.

Sardis

Central clearing is not designed to change risk, only make it easier to monitor. Also it makes everyone post collateral immediately and standardizes pricing. It serves a benedicial function in risk analysis.

[eCat]

I know it sucks to someone if they feel like they didn't do anything wrong, but given some past prosecutors on statutory rape, this one seems fairly compassionate in his offer

http://www.cnn.com/2013/08/14/justice/f ... ?hpt=hp_c3

[Bklyn]

So the 14 year old's parents felt they had no other choice because their daughter was sneaking out the house to see the defendant? Yeah, if that is the reason they involved the police, this prosecution will definitely save their daughter from other relationships they don't approve of.

[sardis]

I am not a legal expert, but, IMO, George asks a good question. If the ACA was passed through congress with the employer mandate deadlines explicitly given, how can you delay it without amending through the same process? Now, Mr. Will may be in err because the Act may have given the executive branch authority to make such changes. But outside of that, how can you delay a deadline written in the law?

http://www.washingtonpost.com/opinions/ ... story.html

[eCat]

I am not a legal expert, but, IMO, George asks a good question. If the ACA was passed through congress with the employer mandate deadlines explicitly given, how can you delay it without amending through the same process? Now, Mr. Will may be in err because the Act may have given the executive branch authority to make such changes. But outside of that, how can you delay a deadline written in the law?

http://www.washingtonpost.com/opinions/ ... story.html

I would assume the same way you tell your Attorney general not to enforce laws regarding immigration or the BATF to bypass laws concerning guns.

[Owlman]

The Act specifically engenders executive agencies to implement the ACT and gave discretion to those agencies to actually write the regs for that legislation. This discretion allows some discretion in implementation and dates. They can't refuse to implement it though. To do that would take an act of congress plus Presidential signature.

[sardis]

So you don't need to necessarily repeal it, but you could keep thinking up reasons to delay it.

[Owlman]

Been done before. Eventually, the Congress can bring a writ of mandamus action to force the executive branch perform it's duty.

[AugustWest]

[eCat]

LOL

I can relate to that

[hedge]

"creating fear among the masses should not be the driver of change from Science."

That's what drove the invention of the airplane. IIIIIIEEEEEEEE!!! IRON BIRD! IRON BIRD!!!

[sardis]

A good article summarizing the problem with the NSA and its latest revelations. Disturbing to freedom loving Americans....

http://www.forbes.com/sites/jennifergra ... secutor-2/

[eCat]

I never heard of "stop and frisk" going on in New York and its been going on for 11 years.

Who puts up with this shit?

[hedge]

Frisket...

[Bklyn]

I never heard of "stop and frisk" going on in New York and its been going on for 11 years.

Who puts up with this shit?

White people.

[Jungle Rat]

New Yorkers

[Bklyn]

only the white ones.