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You Must Read The Occupiers' 325-Page Comment To The SEC

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The Occupy people have done a wonderful thing. On Monday, just as the comment period on the new regulation was closing, a subgroup of seven known as Occupy the SEC submitted a 325-page comment to all relevant federal agencies demanding a stricter "Volcker Rule" -- the part of Dodd-Frank that aims to limit the amount of proprietary trading, or risky bets made with a firm's own money (frequently and ultimately meaning YOUR money), in which megabanks can participate.


This is Important, as the comment explains:

Proprietary trading by large-scale banks was a principal cause of the recent financial crisis, and, if left unchecked, it has the potential to cause even worse crises in the future. In the words of a banking insider, Michael Madden, a former Lehman Brothers executive:

Proprietary trading played a big role in manufacturing the CDOs (collateralized debt obligations) and other instruments that were at the heart of the financial crisis. . . if firms weren't able to buy up the parts of these deals that wouldn't sell. . .the game would have stopped a lot sooner.

Go read it! We haven't read the full thing, but we will... later. (No, that's not even a joke this time. We will read it later! Unless something good comes on the teevee... No but really we look forward to reading it! Maybe...)

In the meantime, here are a couple of reviews from Reuters and Mother Jones.

[Occupy the SEC]

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Lace up your sneakers, Wonkers! Time to hit the streets. MoveOn, the ACLU, MomsRising and all your favorite dirty leftists are getting together for a yuuuuuuuuge march to show that WE ARE A NATION OF DECENT FUCKING HUMAN BEINGS WHO DON'T KIDNAP BABIES. And your Wonkette will be there!

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Rudy Giuliani, flapping his loose yap to Politico on Monday:

President Donald Trump's attorney Rudy Giuliani said on Monday that he was actually just bluffing last week when he called for Justice Department leaders to suspend special counsel Robert Mueller's investigation within 24 hours.

"I didn't think it would," Giuliani told POLITICO with a laugh when asked about the Mueller inquiry's still being very much an active investigation. "But I still think it should be." [...]

That's what I'm supposed to do," Giuliani explained on Monday. "What am I supposed to say? That they should investigate him forever? Sorry, I'm not a sucker."

Cool, that is just Rudy Giuliani admitting he's full of shit and words and more shit and more words (and also a noun, a verb and 9/11). We are guessing therefore that Giuliani, who is a lawyer, would legally advise us to continue assuming we should take his every oral ejaculation with a gi-normous grain of FULL OF SHIT.

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