This page has been archived and commenting is disabled.

Senator Reid Says No Vote On FinReg Until After July 4 Recess

Tyler Durden's picture




 

In the meantime, the market is perfectly ok, and 8 thousand shares can never trade through Reg NMS, and put a hold on billions of shares of Citi traded daily. Of course, what this does allow is some very serious horse trading over the next several weeks, to strip FinReg of any actual regulations.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/30/2010 - 12:11 | 444301 sweet ebony diamond
sweet ebony diamond's picture

Never trust a Hairy Reed from Vegas.

Wed, 06/30/2010 - 12:14 | 444311 Yer Dotter
Yer Dotter's picture

Is it because they don't have the votes -or- because of the Citi flash crash?

Wed, 06/30/2010 - 12:14 | 444313 Zina
Zina's picture

They should wait to vote only after the World Cup ends.

Wed, 06/30/2010 - 12:20 | 444322 ZackAttack
ZackAttack's picture

Best World Cup quote I've heard in a while:

 

Q: How is soccer like 'Twilight'?

A: They run around for 2 hours, nobody scores, and its billion fans insist you just don't understand.

Wed, 06/30/2010 - 12:26 | 444335 Ragnarok
Ragnarok's picture

LOL.

Wed, 06/30/2010 - 12:48 | 444388 Zina
Wed, 06/30/2010 - 13:11 | 444434 Gold...Bitches
Gold...Bitches's picture

and its billion fans insist you just don't understand.

You forgot to add - way to serious and unable to understand humor.

Wed, 06/30/2010 - 14:08 | 444572 carbonmutant
carbonmutant's picture

Good one.

Wed, 06/30/2010 - 12:38 | 444368 Zina
Zina's picture

The economics of sports video games.

Take a look at the List of best-selling video game franchises on Wikipedia:

http://en.wikipedia.org/wiki/List_of_best-selling_video_game_franchises

 

Check the top video games franchises of most popular sports on USA:

Madden NFL - 75 million copies

NBA Elite / NBA Live - 35 million copies

Major League Baseball 2K - 5.5 million copies

Total: 115.5 million copies


Now check the top two video games franchises of "soccer" (football):

FIFA Soccer / FIFA Football - 68 million copies

Winning Eleven / Pro Evolution Soccer - 55.5 million copies

Total: 123.5 million copies


Who cares about soccer, that fucking "exotic" sport? Nobody cares about fucking World Cup... We're 'mericans, and we're the center of the universe.

Wed, 06/30/2010 - 13:11 | 444429 Turd Ferguson
Turd Ferguson's picture

I've watched more soccer in the past three weeks than I've watched in the previous three years. I have one suggestion:

There are too many players on the field. Eliminating two players on each side would open the game up for more regular displays of athleticism and scoring. If games were the decided 8-6 instead of 1-0, more Americans would buy in.

Just my 2c 

Wed, 06/30/2010 - 13:41 | 444506 Zina
Zina's picture

If you like a 8-6 score, you can try Futsal, it has only 5 players in each team.

Wed, 06/30/2010 - 14:50 | 444648 Turd Ferguson
Turd Ferguson's picture

I have no interest in indoor soocer. I want:

Regulation-sized pitch. 9 guys instead of 11.

Wed, 06/30/2010 - 13:10 | 444431 Village Idiot
Village Idiot's picture

"Who cares about soccer, that fucking "exotic" sport? Nobody cares about fucking World Cup... We're 'mericans, and we're the center of the universe."

 

We play foootball. 

Wed, 06/30/2010 - 13:18 | 444445 Gold...Bitches
Gold...Bitches's picture


Take a look at the List of best-selling video game franchises on Wikipedia:

http://en.wikipedia.org/wiki/List_of_best-selling_video_game_franchises

 

Mario has sold over 220 million copies.  Shrooms beat all the sports.

Wed, 06/30/2010 - 12:24 | 444331 assumptionblindness
assumptionblindness's picture

Good point, TD.

How does a fat finger trade on 8,000 shares cause a 17% price drop (and trigger a circuit breaker) on a stock that trades over 800,000,000 shares every day?   Exactly...

If I try to sell 1000 shares of Ford at $8/share then I could trigger a 5-minute trading stop?  Sweet!!!!

FinReg, SEC reg, and CFTC reg are all jokes!

 

Wed, 06/30/2010 - 12:28 | 444338 anynonmous
anynonmous's picture

Read this piece of crap:

 

Bank of Canada Governor Mark Carney will chair a committee of global central bankers tasked with detecting and responding to threats of instability in the global financial system, the bank announced yesterday.

 

For three years starting on July 1, Mr. Carney will preside over the Committee on the Global Financial System (CGFS), replacing U.S. Federal Reserve vice-chairman Donald Kohn, who is retiring.

 

 

The CGFS is one of the committees within the Bank for International Settlements (BIS) in Basel, Switzerland. It serves as a hub for central banks to discuss and share research and policy ideas.

 

 

Mr. Carney was named one of the world's most influential people by Time magazine this year, and the former Goldman Sachs investment banker's appointment reflects a vote of confidence from 30 of his peers at a weekend meeting in Basel.

The committee, which has 23 institutions as members, helps central bank governors develop policies to counter risks to the global financial system.

 

 

 

Meanwhile, the chief executive of Goldman Sachs Canada will serve as an adviser to Mr. Carney, who formerly worked at the investment bank, to work on financial market reforms, the institution said yesterday.

 

 

http://www.nationalpost.com/todays-paper/Carney+lead+global+bank+committee/3218520/story.html#ixzz0sM1irviN
Wed, 06/30/2010 - 12:49 | 444391 ShaneAshton
ShaneAshton's picture

I love how they call it "threats of instability."  They should call it "worthless paper created out of thin air with the intension of enslaving the humans beings of this planet by bankrupting them with hyperinflation of fiat currency."  I guess thats too long to fit into a mission statement.

Wed, 06/30/2010 - 12:53 | 444398 Muir
Muir's picture

And now for your viewing pleasure.
The Mistress of the Macabre. The
Epitome of Evil. The most sinister
woman to dance on the face of the
earth. Lowly dogs, get on your
knees, bow your heads and worship
at the feet
of SANTANICO
PANDEMONIUM!

Wed, 06/30/2010 - 13:35 | 444492 JR
JR's picture

It’s a global grab for power—i.e., peaceful gangsterism masquerading as free-market capitalism.

It is fitting that Goldman fascist-socialists masked as capitalists are in charge of the “opportunist” overthrow of capitalism in America.  As these Soros-type “bankers” meet to build an iron curtain around America’s and the world’s economic and political freedoms, it is necessary to distinguish between an opportunist overthrow of America and a violent overthrow. A world champion of egalitarianism, Nikita S. Khrushchev, made this distinction in his 1956 report to the Central Committee:

“Our enemies like to depict us Leninists as advocates of violence, always and everywhere.  True, we recognize the need for the revolutionary transformation of capitalist society into socialist society.  It is this which distinguishes the revolutionary Marxist from the reformist, the opportunist.  There is no doubt that in a number of capitalist countries the violent overthrow of the dictatorship of the bourgeoisie and the sharp aggravation of class struggle are inevitable.”

As to the method of overthrow in America, it now appears Khrushchev was wrong. It is to be a quiet “reform” revolution, led by the U.S. Congress and Barack Obama providing the legislative and executive cover for the Wall Street takeover of America as she marches into serfdom and global tyranny.

Wed, 06/30/2010 - 13:54 | 444534 Commander Cody
Commander Cody's picture

Another secret committee whose sole purpose is to identify threats leading to reductions in the bonuses of banksters.

Wed, 06/30/2010 - 12:27 | 444340 Rainman
Rainman's picture

The Critters must have been spooked by that 250 pt. takedown of the Dow yesterday. They hear the lobbyists chanting " see...?? see what can happen when you make investors nervous ??? You're killing off the recovery " !!

I expect the terrified incumbent Critters will throw barrels of post-holiday waterdown on finreg and claim complete victory for financial reform.

Wed, 06/30/2010 - 12:31 | 444351 Turd Ferguson
Turd Ferguson's picture

Harry Reid is nothing but a crusty, weathered, decrepit old douchebag.

Wed, 06/30/2010 - 12:36 | 444362 Muir
Muir's picture

___

 

You won't live with mendacity? Well, you're an expert at it! The truth is pain and sweat and payin' bills and makin' love to a woman that you don't love any more. Truth is dreams that don't come true, and nobody prints your name in the paper 'til you die.

___

Wed, 06/30/2010 - 12:41 | 444375 Mae Kadoodie
Mae Kadoodie's picture

Well, at least we have 90% oil leak containment by June 30th to look foward to.  Barry O'bummer told us so.

Wed, 06/30/2010 - 12:46 | 444383 Joe Davola
Joe Davola's picture

He's had so many Mission Accomplished moments it's just sad.

Wed, 06/30/2010 - 12:53 | 444399 NumberNone
NumberNone's picture

...and promised all troops would be out of Iraq within 18 months of inauguration.

Not an attack on you Mae, but the Gulf oil spill and slaps at BP, Obama, Bush, Congress, et al have ceased to be funny.  It has reached sad, scary and completely disheartening.  It's like watching a loved one bleed out on the table while the doctors and hospital administrators haggle over how to treat them. 

Wed, 06/30/2010 - 13:01 | 444411 williambanzai7
williambanzai7's picture

Why don't they wait until the Financial Crisis Commission issues it's report, then they can take a Christmas break.

Wed, 06/30/2010 - 13:27 | 444479 NumberNone
NumberNone's picture

No rest when there's money to spend and unions to pay off...Democrats add teacher money to war funding bill...

http://news.yahoo.com/s/ap/20100630/ap_on_go_co/us_congress_war_funding#mwpphu-container

 

 

Wed, 06/30/2010 - 15:51 | 444833 JR
JR's picture

According to AVVO as reported on Naked Law by Avvo in Government vs. Public Sector Pay: Are You Getting Screwed June 29, 2010:

Federal Government 

The federal government is America’s largest employer and spends over $200 billion per year in compensation for civilian employees.

Since January of 2009, the number of Federal government employees has increaed by about 15% from 1.875 million to an expected 2.148 million in 2010.

The average civilian federal employee made $79,197 in 2008, compared to an average of $50,028 in the private sector.  Including benefits, it’s $119,932 in the public sector compared to $59,909 in the private sector.

The government pays an average $3.16/hour for its employees’ retirement and savings plans, compared to $0.96/hour in the private sector.

The government spends $4.52/hour for its employees’ health insurance, compared to a measly $2.08/hour for private sector workers.

90% of government workers have traditional pension plans that guarantee a retirement check for life, while only 33% of private sector employees have them.

Doing apples to apples comparisons, federal employees earn higher average salaries than private sector workers in more than 80% of occupations.

These salary figures do not include the value of health, pension and other benefits, which average $40,785 per federal employee in 2008 vs. $9,882 per private worker.

          Recreation workers: Federal $43,630

                                        Private $21,671

          Broadcast Technician: Federal $90,310

                                           Private $49,265

          Laundry Worker: Federal $33,100

                                   Private $19,945

          Cook: Federal $38,400

                    Private $23,279

          Graphic Designer: Federal $70,820

                                     Private $46,565

          Public Relations: Federal $132,410

                                   Private $88,241

          Pest Control Worker: Federal $48,670

                                         Private $33,675

          Chemist: Federal $98,060

                        Private $72,120

          Secretary: Federal $44,500

                          Private $33,829

          Janitor: Federal $30,110

                      Private $24,188

State and Local Government

State and local government workers made an average of $45,24 in 2008 compared to $39,877 in the private sector.  And on top of higher pay, state and local government retirees enjoy pensions twice the size of public sector pensions.

State and local government workers can score big pay and pension benefits by gaming overtime rules.  For example:

A Wisconsin bus driver made $159,258 in 2009.

A Yonkers police officer retired at 44 with a $101,333/year pension by raking up overtime just before retirement.

A New York hospital assistant made $170,256 in 2008.

A California sanitary district manager retired with a $217,000/year pension on a salary of $234,000.

1/3 of all San Francisco city workers made over $100,000 in 2009, without even taking into account healthcare and pension.

http://www.itulip.com/forums/showthread.php/16100-Private-Sector-vs.-Government-Wages

http://nakedlaw.avvo.com/2010/06/government-vs-private-sector-pay/ (for references)

Wed, 06/30/2010 - 13:05 | 444416 Gimp
Gimp's picture

When is the vote in NV to get rid of this bum. I can't wait till November.

Wed, 06/30/2010 - 13:25 | 444473 Bam_Man
Bam_Man's picture

Harry Reid was born in a whorehouse, which given his current occupation is altogether fitting.

Wed, 06/30/2010 - 13:48 | 444523 williambanzai7
Wed, 06/30/2010 - 13:48 | 444524 doolittlegeorge
doolittlegeorge's picture

as if there was any "regulation" in the bill in the first place.  the thing was of course the usual "Washington/Wall Street" relationship thing since "after the passing of impossible to understand bill" there would then be a "rule making" thingy to allow for "continued shakedownism" at what people "on the Hill" still think actually exists:  namely the dinosaur formerly known as a "taxpayer."  I mean...c'mon--the only result OF COURSE is some form of--what did they call Fannie and Fred?--"receivership"?  In other words, "when in doubt look for a word--preferably something that doesn't say anything."  And of course I'm talking about "receivership" for the STATES of California, New York, New Jersey, etc, etc....Oh, yeah--and in case you're wondering "why all those Greeks are in the streets" and "angry" it's because they haven't received a single paycheck since...is it March they went belly up?  And they say "states can't go bankrupt."  Well...what is it then when the no longer pay their employees?  "Sugar plum gum drop goodness sunshine"?

Wed, 06/30/2010 - 13:53 | 444532 Joe Shmoe
Joe Shmoe's picture

Also, the big tax hike to come will be in the form of pols (dem and GOP) failing to extend the Bush Tax Relief plan in 2011.  They can do nothing, point fingers at each each other, and let the estate tax return to 50%.  No one will have any courage on this and middle class people will get fucked. 

Wed, 06/30/2010 - 14:01 | 444553 colonial
colonial's picture

Just 24 hours ago, FSR seemed like a done deal.  Of course there were a few issues, but leadership thought they could do a little more horse trading and be done with this as there is true fatigue in the wake of healthcare and FSR. 

The thinking was Snowe and Collins could be coaxed, Brown could be appeased (the TARP money deal,) and Cantwell could be turned.  Close but done.  However, the game may have changed a bit and its Barney and the House who seem to be the issue. 

I may be a little rusty on my parliamentarian procedure, but I'm wondering about Barney's statement that the House will vote today and that once voted on, the package is non-amendable.  I assume there is a way to force the House to vote on a different Senate version, some kind of technical correction, but wonder why Democrat leadership is willing to risk this.   

Wed, 06/30/2010 - 14:12 | 444582 JR
JR's picture

Nobody does anything unless the banks get the version they want.  That’s the final bottom line.

Wed, 06/30/2010 - 14:18 | 444594 carbonmutant
carbonmutant's picture

Cloture vote could be an issue...

Wed, 06/30/2010 - 14:58 | 444666 Remington IV
Remington IV's picture

November  2

Wed, 06/30/2010 - 16:45 | 445040 tj3
tj3's picture

Where do we go from here? Zero posts on the bill itself. Maybe four posts on the vote. The rest BS or unrelated...but mostly BS.

Sat, 08/21/2010 - 11:18 | 534736 herry
herry's picture

Certainly a lot of details like that to take into consideration. Thanks windows vps | cheap vps | cheap hosting | forex vps

Do NOT follow this link or you will be banned from the site!