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	<title>Comments on: Derivatives Lobby Corrupts Congress</title>
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	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: Much Ado About Nothing $23B: Goldman Sachs Bonus &#124; The Big Picture</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-225497</link>
		<dc:creator>Much Ado About Nothing $23B: Goldman Sachs Bonus &#124; The Big Picture</dc:creator>
		<pubDate>Wed, 14 Oct 2009 11:15:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-225497</guid>
		<description>[...] Derivatives Lobby Corrupts Congress (October 12th, 2009) http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/ [...]</description>
		<content:encoded><![CDATA[<p>[...] Derivatives Lobby Corrupts Congress (October 12th, 2009) <a href="http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/" rel="nofollow">http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/</a> [...]</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-225011</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Tue, 13 Oct 2009 00:05:27 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-225011</guid>
		<description>DeD, 

forgetting the fact that the U.S. has been, in fact, the largest Arms dealer, and technology, therefore, peddler for multiple decades, picking &#039;to provide for the Common Defense&#039;, as an ex. of the Framers short-sightedness, shows a very specific blindness of your own.

as in, it&#039;s in the Preamble of Document..

&quot;The Constitution of the United States of America
We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.&quot;
http://www.law.cornell.edu/constitution/constitution.preamble.html</description>
		<content:encoded><![CDATA[<p>DeD, </p>
<p>forgetting the fact that the U.S. has been, in fact, the largest Arms dealer, and technology, therefore, peddler for multiple decades, picking &#8216;to provide for the Common Defense&#8217;, as an ex. of the Framers short-sightedness, shows a very specific blindness of your own.</p>
<p>as in, it&#8217;s in the Preamble of Document..</p>
<p>&#8220;The Constitution of the United States of America<br />
We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.&#8221;<br />
<a href="http://www.law.cornell.edu/constitution/constitution.preamble.html" rel="nofollow">http://www.law.cornell.edu/constitution/constitution.preamble.html</a></p>
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		<title>By: DeDude</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224903</link>
		<dc:creator>DeDude</dc:creator>
		<pubDate>Mon, 12 Oct 2009 17:50:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224903</guid>
		<description>Mark EH;

If &quot;we the people&#039;s&quot; government is financing campaigns then it is &quot;we the people&#039;s&quot; hand that feeds the legislators, and they may be less inclined to serve those that currently give them the money needed to be reelected (i.e., run a better smear campaign than their opponent).

When the framers made the constitution a war was an affair where regular people could take their hunting riffles to go fight the enemy, so all you needed were some local militias getting together to ensure the defense of the country.  In todays reality you need huge amounts of resources to ensure know-how and application of modern technology at a level that matches those of our potential enemies.  International terror organizations with potential access to weapons of mass destruction, were also completely beyond what the founders were able to imagine and prepare for.</description>
		<content:encoded><![CDATA[<p>Mark EH;</p>
<p>If &#8220;we the people&#8217;s&#8221; government is financing campaigns then it is &#8220;we the people&#8217;s&#8221; hand that feeds the legislators, and they may be less inclined to serve those that currently give them the money needed to be reelected (i.e., run a better smear campaign than their opponent).</p>
<p>When the framers made the constitution a war was an affair where regular people could take their hunting riffles to go fight the enemy, so all you needed were some local militias getting together to ensure the defense of the country.  In todays reality you need huge amounts of resources to ensure know-how and application of modern technology at a level that matches those of our potential enemies.  International terror organizations with potential access to weapons of mass destruction, were also completely beyond what the founders were able to imagine and prepare for.</p>
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		<title>By: beaufou</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224897</link>
		<dc:creator>beaufou</dc:creator>
		<pubDate>Mon, 12 Oct 2009 17:28:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224897</guid>
		<description>Marcy Kaptur mentioned Black Rock on Bill Moyers, they look kind of scary to me.
It appears power is being more and more centralized to very few intitutions, like Black Rock.

http://online.wsj.com/article/SB125495801640171987.html?mod=googlenews_wsj</description>
		<content:encoded><![CDATA[<p>Marcy Kaptur mentioned Black Rock on Bill Moyers, they look kind of scary to me.<br />
It appears power is being more and more centralized to very few intitutions, like Black Rock.</p>
<p><a href="http://online.wsj.com/article/SB125495801640171987.html?mod=googlenews_wsj" rel="nofollow">http://online.wsj.com/article/SB125495801640171987.html?mod=googlenews_wsj</a></p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224892</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Mon, 12 Oct 2009 17:04:44 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224892</guid>
		<description>DeD, 

let&#039;s call this: &quot;the hand that feeds you owns you.&quot;, True.

you&#039;re proposing &quot;Public(Government) Campaign Financing&quot;

what are we to assume of that outcome?

and, with this: &quot;When the constitution was written most of what federal government is doing today couldn’t even be imagined.&quot;, where do you think the term UnConstitutional comes from? any idea of why the 9th &amp; 10th Amendments are/were part of the &quot;Bill of Rights&quot;--necessary for the ratification of the Constitution, to begin with?

past that, why not, you know, spell out where the Vision of the Framers was, so, short-sighted?</description>
		<content:encoded><![CDATA[<p>DeD, </p>
<p>let&#8217;s call this: &#8220;the hand that feeds you owns you.&#8221;, True.</p>
<p>you&#8217;re proposing &#8220;Public(Government) Campaign Financing&#8221;</p>
<p>what are we to assume of that outcome?</p>
<p>and, with this: &#8220;When the constitution was written most of what federal government is doing today couldn’t even be imagined.&#8221;, where do you think the term UnConstitutional comes from? any idea of why the 9th &amp; 10th Amendments are/were part of the &#8220;Bill of Rights&#8221;&#8211;necessary for the ratification of the Constitution, to begin with?</p>
<p>past that, why not, you know, spell out where the Vision of the Framers was, so, short-sighted?</p>
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		<title>By: Brett Tibbitts</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224891</link>
		<dc:creator>Brett Tibbitts</dc:creator>
		<pubDate>Mon, 12 Oct 2009 17:02:51 +0000</pubDate>
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		<description>The current Congress &quot;overlorded&quot; by Reid and Pelosi is far too busy re-making the world in its image, and not worrying about the &quot;big picture&quot;.  They are not going to miss out on their opportunity to spend money we don&#039;t have after re-taking the Congress in 2006.

The Commodity Futures Modernization Act needs to be repealed now in light of its failures.  I would argue it&#039;s worse to make the mistake of keeping it in tact after the world has fallen apart and the emperor has clearly been seen to have no clothes. 

It&#039;s all about the delta (change).  You are held to greater accountability when you have more light and this Congress has plenty of light.

Perhaps the day will come fairly soon Barry when the current Congress bumps former Senator Phil Gramm off the number two spot of your list of villains and into the number three spot.</description>
		<content:encoded><![CDATA[<p>The current Congress &#8220;overlorded&#8221; by Reid and Pelosi is far too busy re-making the world in its image, and not worrying about the &#8220;big picture&#8221;.  They are not going to miss out on their opportunity to spend money we don&#8217;t have after re-taking the Congress in 2006.</p>
<p>The Commodity Futures Modernization Act needs to be repealed now in light of its failures.  I would argue it&#8217;s worse to make the mistake of keeping it in tact after the world has fallen apart and the emperor has clearly been seen to have no clothes. </p>
<p>It&#8217;s all about the delta (change).  You are held to greater accountability when you have more light and this Congress has plenty of light.</p>
<p>Perhaps the day will come fairly soon Barry when the current Congress bumps former Senator Phil Gramm off the number two spot of your list of villains and into the number three spot.</p>
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		<title>By: Mark Wolfinger</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224888</link>
		<dc:creator>Mark Wolfinger</dc:creator>
		<pubDate>Mon, 12 Oct 2009 16:53:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224888</guid>
		<description>It&#039;s as simple as this:  Quoting Dick Durbin:  &quot;They own this place.&quot;

The banks own Congress. 
Not going to be easy to regulate anything</description>
		<content:encoded><![CDATA[<p>It&#8217;s as simple as this:  Quoting Dick Durbin:  &#8220;They own this place.&#8221;</p>
<p>The banks own Congress.<br />
Not going to be easy to regulate anything</p>
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		<title>By: DeDude</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224865</link>
		<dc:creator>DeDude</dc:creator>
		<pubDate>Mon, 12 Oct 2009 16:10:53 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224865</guid>
		<description>Sorry Mark, the hand that feeds you owns you.  If that hand is private contributions, those private contributors are the owners.  The size of &quot;we the people&#039;s&quot;  federal government is a completely different issue.  When the constitution was written most of what federal government is doing today couldn&#039;t even be imagined.</description>
		<content:encoded><![CDATA[<p>Sorry Mark, the hand that feeds you owns you.  If that hand is private contributions, those private contributors are the owners.  The size of &#8220;we the people&#8217;s&#8221;  federal government is a completely different issue.  When the constitution was written most of what federal government is doing today couldn&#8217;t even be imagined.</p>
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		<title>By: DeDude</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224859</link>
		<dc:creator>DeDude</dc:creator>
		<pubDate>Mon, 12 Oct 2009 16:04:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224859</guid>
		<description>Mannwich, we actually have had it partially in presidential elections where there were a public match.  It&#039;s just that the money got so big that there was a political advantage to become 100% industry funded.  The government is big enough to outbid private funding, when the thing we are bidding on is our own democracy.  We could even finance it in part with a tax on lobbying and campaign contributions from companies (does a rate of 75% sound to high).</description>
		<content:encoded><![CDATA[<p>Mannwich, we actually have had it partially in presidential elections where there were a public match.  It&#8217;s just that the money got so big that there was a political advantage to become 100% industry funded.  The government is big enough to outbid private funding, when the thing we are bidding on is our own democracy.  We could even finance it in part with a tax on lobbying and campaign contributions from companies (does a rate of 75% sound to high).</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2009/10/derivatives-lobby-corrupts-congress/comment-page-1/#comment-224858</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Mon, 12 Oct 2009 16:00:44 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=40659#comment-224858</guid>
		<description>re: &quot;Public Campaign Financing&quot;

I hate to say it, but, it isn&#039;t &#039;private contributions&#039; that is the problem.  The problem is that there is so much that they can buy.

We&#039;ve, obviously, forgotten that the Federal Government was intended to be Limited in Size, and Scope.

for a refresher, see: http://www.law.cornell.edu/constitution/constitution.billofrights.html
esp. Amendments IX and X
and, further: http://www.law.cornell.edu/constitution/constitution.overview.html

LSS: the FedGov&#039;s &#039;powers&#039; are explicitly enumerated and, further, proscribed.  That the SCOTUS has, also, been hijacked is a different problem..

We were given a Republic to keep problems Localized and Managable; Centralization is our Ill, not the assemblage endeavoring to survive it.
http://www.thefreedictionary.com/assemblage</description>
		<content:encoded><![CDATA[<p>re: &#8220;Public Campaign Financing&#8221;</p>
<p>I hate to say it, but, it isn&#8217;t &#8216;private contributions&#8217; that is the problem.  The problem is that there is so much that they can buy.</p>
<p>We&#8217;ve, obviously, forgotten that the Federal Government was intended to be Limited in Size, and Scope.</p>
<p>for a refresher, see: <a href="http://www.law.cornell.edu/constitution/constitution.billofrights.html" rel="nofollow">http://www.law.cornell.edu/constitution/constitution.billofrights.html</a><br />
esp. Amendments IX and X<br />
and, further: <a href="http://www.law.cornell.edu/constitution/constitution.overview.html" rel="nofollow">http://www.law.cornell.edu/constitution/constitution.overview.html</a></p>
<p>LSS: the FedGov&#8217;s &#8216;powers&#8217; are explicitly enumerated and, further, proscribed.  That the SCOTUS has, also, been hijacked is a different problem..</p>
<p>We were given a Republic to keep problems Localized and Managable; Centralization is our Ill, not the assemblage endeavoring to survive it.<br />
<a href="http://www.thefreedictionary.com/assemblage" rel="nofollow">http://www.thefreedictionary.com/assemblage</a></p>
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