Comment Text:
“I am dinda evans and here is my family and friends were affected by the financial crisis. There are few jobs, even for experienced people with college degrees. Corporate greed and government collusion have spun the us economy out of control. outsourced jobs and an over abundance of alien workers added to seventeen billion dollars a year leaving the us for their home countries and compounded by taxes not paid have caused people to lose their homes, be underemployed if at all and a general feeling that our government has abandoned us in their grasping goal to see themselves as global leaders rather than guardians of our people and country. I never again want to be called on to bail out big corporations and Wall Street banks for irresponsible “heads I win, tails you lose” gambles.
When Reagan bailed out GM the money was used to build factories overseas. Once again that was the result of the Obama bailouts. The people have always been against it. The only people for it were government leaders that had their hands in the pockets of corporations that had their hands in our treasury dollars. Bailouts, subsidies..welfare for the rich has been the game for decades while they moan and diminish aid to our own poor.
In the late 90s S Korea's economy took a nose dive. The IMF went in and strongarmed them. Korea nationalized banks, transportation, large businesses that employed many people. In five years korea was debt free and the economy was getting back on its feet. The us antic of giving more money to CEOs and their cronies to do with what they will, usually cut even more us jobs, is shameful. Congress and the presidents have misused their power and our tax dollars.
Effective oversight of the $700 trillion global derivatives market is a key to meaningful reform. Because this market is inherently global, risks can be transferred around the world with the touch of a button. The proposed guidance you have issued on cross-border application of Dodd-Frank derivatives rules shows that you understand the importance of this issue. But the proposal contains multiple loopholes that could allow foreign affiliates of Wall Street banks to escape regulation. Big U.S. banks and other major U.S. derivatives users are global corporations with hundreds if not thousands of foreign affiliates. If we don’t regulate them everywhere, we can’t regulate them anywhere. Please make this guidance stronger to ensure that new Dodd-Frank derivatives protections will directly apply to the full global activities of all important participants in the U.S. derivatives markets.
