{"id":6074,"date":"2011-10-09T00:02:52","date_gmt":"2011-10-09T07:02:52","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=6074"},"modified":"2011-10-09T00:02:52","modified_gmt":"2011-10-09T07:02:52","slug":"banksters-balk-at-accountability","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/10\/09\/banksters-balk-at-accountability\/","title":{"rendered":"Banksters balk at accountability"},"content":{"rendered":"<p><font color=\"#0000ff\">It would seem a simple enough task for a company\u2019s CEO to certify that his company is conducting business legally, without violating a specific law.&#160; It would seem fair that the CEO should be accountable if his company breaks that law.&#160; Banksters are saying the exact opposite.<\/font><\/p>\n<blockquote>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"display: inline; float: left\" title=\"9banksters\" alt=\"9banksters\" align=\"left\" src=\"https:\/\/www.7thstep.org\/blog\/wp-content\/uploads\/2011\/10\/9banksters.jpg\" width=\"360\" height=\"219\" \/>Regulators are considering holding Wall Street chief executives legally liable if they allow certain types of proprietary trading on their watch.<\/p>\n<p>Regulators due to reveal the Volcker rule proposal next week are expected to ask whether <strong>CEOs should have to certify, or &quot;attest,&quot; that their bank has put in place the proper systems to make sure no proprietary trading is taking place<\/strong>.<\/p>\n<p>The idea is that holding CEOs personally accountable will add a strong deterrent effect to the Volcker rule.<\/p>\n<p>The rule, called for in last year&#8217;s Dodd-Frank financial oversight law, <strong>bans banks from trading for their own profit in securities, derivatives and some other financial instruments<\/strong>.<\/p>\n<p><strong>The bank industry is already balking at the legal burden and compliance headache that would come with a CEO certification<\/strong>\u2026 [<em>emphasis added<\/em>]<\/p>\n<\/blockquote>\n<p>Inserted from &lt;<a href=\"http:\/\/www.huffingtonpost.com\/2011\/10\/08\/volcker-rule-wall-street-ceo_n_1001380.html\" target=\"_blank\">Huffington Post<\/a>&gt;<\/p>\n<p><font color=\"#0000ff\">There is only one valid reason for Banksters to oppose this law.&#160; They don\u2019t want to get caught.&#160; There are two possibilities.&#160; First, the CEO does not know what is happening, because he is unable to control his firm.&#160; If that is the case, the bank needs to ne broken up, because it is too big to manage.&#160; Second, and most likely, the CEO knows damn well what\u2019s going on.&#160; If that is the case, the bank needs to be broken up, because its executives consider themselves above the law.<\/font><\/p>\n<p><font color=\"#0000ff\">I don\u2019t have to tell you which party will support the banksters.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It would seem a simple enough task for a company\u2019s CEO to certify that his company is conducting business legally, without violating a specific law.&#160; It would seem fair that the CEO should be accountable if his company breaks that law.&#160; Banksters are saying the exact opposite. Regulators are considering holding Wall Street chief executives <a href='https:\/\/www.politicsplus.org\/blog\/2011\/10\/09\/banksters-balk-at-accountability\/' class='excerpt-more'>[&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6074","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/6074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=6074"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/6074\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=6074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=6074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=6074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}