Which Has a Better Ring – The Hexopoly or The Systemic Six?

The Financial Reform Bill, which I’ve nicknamed The Let’s Not Allow Our Largest Donors To Embarrass Us Again Act of 2010, is not a total failure, but it fails miserably to address perhaps the worst part of the crisis – Too Big To Fail.

The bill doesn’t really address the Hexopoly of Too Big To Fail Banks.  I’m also calling these The Systemic Six.

The big six banks (Goldie, Morgan, JP, B of A, Wells and Citi) will be limited in their hedge fund investments and trading activity, but not very limited.  The interconnectedness, however, is unchanged, and this is the very crux of the matter.

Citi was saved to prevent it from dragging Wells down, Wachovia, Merrill, Morgan were all “assisted” to prevent Goldman and JPMorgan Chase from going down, and on and on.  We were told that the dominoes were already falling after Lehman and so emergency measures (bailouts) were necessary.

And for arguments sake, let’s say this was true at the time or was the best option to prevent the Depression.  OK, fine.  But so why doesn’t the new legislation address that and seek a change for the fact that these six banks (and others) can cause such a massive chain reaction?  It’s a shocking gap in the provisions of the bill.

And don’t even get me started on the Fannie and Freddie omission (consider those cans kicked down the road).  If Finance Reform were a wedding, Fannie and Freddie would be placed at the farthest table from the action, over by the kitchen doors like the ugly cousins of the banks that they truly are.

Oh well, maybe we’ll get it right after the next economic evisceration.  For now, The Hexopoly or The Systemic Six are here to stay.

What's been said:

Discussions found on the web
  1. transitions to do when your stuck video star commented on Sep 15

    … [Trackback]

    […] There you can find 96184 additional Information on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  2. immediate edge commented on Sep 16

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  3. Best Dumps Shop 2020 commented on Sep 27

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  4. bitcoin evolution commented on Oct 01

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  5. Cannabis Oil Shop commented on Oct 13

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  6. Harold Jahn Canada commented on Nov 14

    … [Trackback]

    […] Here you can find 42200 additional Info to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  7. intelligent automation consultants commented on Nov 27

    … [Trackback]

    […] Read More Info here on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  8. Automated regression testing commented on Nov 28

    … [Trackback]

    […] Here you can find 39054 additional Information on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  9. rolex replica commented on Dec 15

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  10. replica rolex commented on Dec 17

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  11. Harold Jahn Alberta commented on Dec 19

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  12. fake watches commented on Dec 31

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  13. montre replique commented on Jan 15

    … [Trackback]

    […] Here you can find 60858 additional Information on that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

  14. replique montre commented on Jan 19

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2010/06/28/which-has-a-better-ring-the-hexopoly-or-the-systemic-six/ […]

Read this next.