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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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On Monday, someone attempted to murder George Soros by putting a bomb in his mailbox. Also on Monday, someone threw a rock into House Majority Leader Kevin McCarthy's office. Also, I spilled some hot coffee on myself. These are all things that happened on Monday, and were by some measure unpleasant. While most people might say, "Yes, all of those things are unpleasant, but they are not equal degrees of unpleasant," most people are not Chuck Schumer.

In what appears to be an attempt to get someone on Fox News to describe him as a "reasonable guy," Schumer sent out a tweet today lamenting the "despicable acts of violence and harassment" being done by "both sides."

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Republicans are KILLIN' IT in Florida, you guys! No worries about election day, Gators. It's all smooooooth sailing for the Sunshine State GOP. Just take it from Governor Rick Scott's lead pollster Wes Anderson, who produced a whimsical, unskewed poll for the campaign, featuring nostalgic jams about high Republican turnout in those good old days, telling the Tampa Bay Times,

As the linked slides indicate, Governor Scott currently leads Senator Nelson 51% to 46%, a lead that is outside of the margin of error.

It should also be noted that this sample from last week is very robust at 2,200 interviews of likely voters, stratified by county to reflect historic mid-term turnout. Our sample shows the Republicans with a one-point turnout advantage, even though we believe we will end up with a two- or three-point advantage. For historical context, in the past two mid-term elections Republicans had a four-point advantage in 2010 and a three-point advantage in 2014. At R+1, that makes our current sample a very conservative take on the likely partisan composition of this year's electorate.

NEEDZ MOAR BILL MURRAY.

No other pollster has replicated those numbers, with SurveyUSA, Quinnipiac, and CNN/SSRS all finding Bill Nelson in the lead, but if OnMessage, Inc. says Scott is running way ahead, then it must be true! Only OnMessage promises to "take your principles, your experience, and your opponent's weaknesses to develop a winning message plan that the voters will embrace." And who wouldn't trust a push pollster, right?

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