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	<title>Comments on: Can the Federal Reserve Protect Consumers?</title>
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	<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/</link>
	<description>What happened to the global economy and what we can do about it</description>
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	<item>
		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-24252</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Sat, 15 Aug 2009 22:45:42 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-24252</guid>
		<description><![CDATA[nothing to cause grief in families like the ancients 

in the remote village of about 300 I lived in they would spout the most appalling stuff about their families as long as they still managed to go outside 

and of course it should read that I can imagine them drinking not that I can&#039;t - there are women who have the right to attend and also some who can against all nature&#039;s odds hold their drinks well, but what do they do when the guys move to the brothel? and I can&#039;t imagine that the Icelanders have not had one or several brothels ready for such illustrious visitors. But maybe the brothels have adapted and accomodate conference attending women now also one way or another]]></description>
		<content:encoded><![CDATA[<p>nothing to cause grief in families like the ancients </p>
<p>in the remote village of about 300 I lived in they would spout the most appalling stuff about their families as long as they still managed to go outside </p>
<p>and of course it should read that I can imagine them drinking not that I can&#8217;t &#8211; there are women who have the right to attend and also some who can against all nature&#8217;s odds hold their drinks well, but what do they do when the guys move to the brothel? and I can&#8217;t imagine that the Icelanders have not had one or several brothels ready for such illustrious visitors. But maybe the brothels have adapted and accomodate conference attending women now also one way or another</p>
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	<item>
		<title>By: Uncle Billy vs. Mont Pelerin</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-24248</link>
		<dc:creator><![CDATA[Uncle Billy vs. Mont Pelerin]]></dc:creator>
		<pubDate>Sat, 15 Aug 2009 22:00:31 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-24248</guid>
		<description><![CDATA[Tell that to Carla Hills!

http://www.cfr.org/bios/3373/carla_a_hills.html

http://www.theglobalist.com/AuthorBiography.aspx?AuthorId=26

This is interesting -- &quot;she was a partner at Munger, Tolles, Hills, and Rickershauser of Los Angeles&quot;  So was her husband Rod.  Rod was SEC Chairman from 75-77.  Munger is Charley Munger, Warren Buffett&#039;s partner.  These people are ancient, but apparently still causing us grief.

http://en.wikipedia.org/wiki/Carla_Anderson_Hills


(And to Madeleine Albright too  http://en.wikipedia.org/wiki/Madeleine_Albright)]]></description>
		<content:encoded><![CDATA[<p>Tell that to Carla Hills!</p>
<p><a href="http://www.cfr.org/bios/3373/carla_a_hills.html" rel="nofollow">http://www.cfr.org/bios/3373/carla_a_hills.html</a></p>
<p><a href="http://www.theglobalist.com/AuthorBiography.aspx?AuthorId=26" rel="nofollow">http://www.theglobalist.com/AuthorBiography.aspx?AuthorId=26</a></p>
<p>This is interesting &#8212; &#8220;she was a partner at Munger, Tolles, Hills, and Rickershauser of Los Angeles&#8221;  So was her husband Rod.  Rod was SEC Chairman from 75-77.  Munger is Charley Munger, Warren Buffett&#8217;s partner.  These people are ancient, but apparently still causing us grief.</p>
<p><a href="http://en.wikipedia.org/wiki/Carla_Anderson_Hills" rel="nofollow">http://en.wikipedia.org/wiki/Carla_Anderson_Hills</a></p>
<p>(And to Madeleine Albright too  <a href="http://en.wikipedia.org/wiki/Madeleine_Albright" rel="nofollow">http://en.wikipedia.org/wiki/Madeleine_Albright</a>)</p>
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		<title>By: chas</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-24086</link>
		<dc:creator><![CDATA[chas]]></dc:creator>
		<pubDate>Sat, 15 Aug 2009 02:31:20 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-24086</guid>
		<description><![CDATA[Anybody seen this? Debt repudiation. Man, this took a lot of courage. Just think what’s going to happen when the banks, Bernanke, Geithner, Summers &amp; Krugam, et al get a hold of this. They’re going to scream to high heaven. A lot of hot air &amp; bluster coming up.

But, does this include all loans or just mortgages? Seems like all we need is to get this around the blogosphere, then set a date. Could this be the beginning of the end of the plutocracy? Sounds like a good start.

Wonder what Simon &amp; James think about debt repudiation?

http://www.counterpunch.org/auerback08142009.html]]></description>
		<content:encoded><![CDATA[<p>Anybody seen this? Debt repudiation. Man, this took a lot of courage. Just think what’s going to happen when the banks, Bernanke, Geithner, Summers &amp; Krugam, et al get a hold of this. They’re going to scream to high heaven. A lot of hot air &amp; bluster coming up.</p>
<p>But, does this include all loans or just mortgages? Seems like all we need is to get this around the blogosphere, then set a date. Could this be the beginning of the end of the plutocracy? Sounds like a good start.</p>
<p>Wonder what Simon &amp; James think about debt repudiation?</p>
<p><a href="http://www.counterpunch.org/auerback08142009.html" rel="nofollow">http://www.counterpunch.org/auerback08142009.html</a></p>
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		<title>By: J. Lindsay</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-24000</link>
		<dc:creator><![CDATA[J. Lindsay]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 15:53:32 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-24000</guid>
		<description><![CDATA[Is it time to relinquish anye assumption that somewhere, somehow, someone with adequate power to positively affect the plight of citizens,  really wants to make their lives better? Is the absence of such a person, power or framework the vaccum which has to be recognized and declared before a remedy can be sought or created?]]></description>
		<content:encoded><![CDATA[<p>Is it time to relinquish anye assumption that somewhere, somehow, someone with adequate power to positively affect the plight of citizens,  really wants to make their lives better? Is the absence of such a person, power or framework the vaccum which has to be recognized and declared before a remedy can be sought or created?</p>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23965</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 08:26:57 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23965</guid>
		<description><![CDATA[the link on your name doesn&#039;t work]]></description>
		<content:encoded><![CDATA[<p>the link on your name doesn&#8217;t work</p>
]]></content:encoded>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23964</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 08:15:56 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23964</guid>
		<description><![CDATA[Bernanke has been assiduously promoting himself for the part of the ‘good German’

actually there were some (very few) but a lot, I mean really a lot, who could acquire that label after the war claimed to have been in &quot;inner emigration&quot; during the more than 12 years of the 1000-year-Reich 
-  all of your objections to Geithner &amp; Bernanke up to here reminded me of that &quot;narrative&quot; - they have been in inner emigration and only now with their present position of power can they come into their own, prove their worth etc. 
- at the same time while reading I was reminded of the Peter-Principle, remember? everybody gets promoted until he reaches his level of incompetence therefore I hope for all of us, that B&amp;G are not there yet]]></description>
		<content:encoded><![CDATA[<p>Bernanke has been assiduously promoting himself for the part of the ‘good German’</p>
<p>actually there were some (very few) but a lot, I mean really a lot, who could acquire that label after the war claimed to have been in &#8220;inner emigration&#8221; during the more than 12 years of the 1000-year-Reich<br />
-  all of your objections to Geithner &amp; Bernanke up to here reminded me of that &#8220;narrative&#8221; &#8211; they have been in inner emigration and only now with their present position of power can they come into their own, prove their worth etc.<br />
- at the same time while reading I was reminded of the Peter-Principle, remember? everybody gets promoted until he reaches his level of incompetence therefore I hope for all of us, that B&amp;G are not there yet</p>
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	<item>
		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23961</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 07:56:28 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23961</guid>
		<description><![CDATA[you would have to include club memberships - the more you go after their official ties the more they do it in the spas - ooops I meant to say conferences of course - sorry but I just can&#039;t imagine the guys having merry drink-together in the evenings
(and that&#039;s one reason why they are still mostly guys, women in average can&#039;t hold their drinks as well)]]></description>
		<content:encoded><![CDATA[<p>you would have to include club memberships &#8211; the more you go after their official ties the more they do it in the spas &#8211; ooops I meant to say conferences of course &#8211; sorry but I just can&#8217;t imagine the guys having merry drink-together in the evenings<br />
(and that&#8217;s one reason why they are still mostly guys, women in average can&#8217;t hold their drinks as well)</p>
]]></content:encoded>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23957</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 07:50:08 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23957</guid>
		<description><![CDATA[ooops - sorry misplaced - intended it to be not an answer but a general comment]]></description>
		<content:encoded><![CDATA[<p>ooops &#8211; sorry misplaced &#8211; intended it to be not an answer but a general comment</p>
]]></content:encoded>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23956</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 07:48:15 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23956</guid>
		<description><![CDATA[do I understand correctly that an American Bank customer is not told the actual percentage cost of his loan as compared to the nominal? Here is an offer from a major German online bank for loans that are meant for those who want more than their much more expensive overdrafts.
 
https://www.ing-diba.de/kundenservice/produkte/gesamtangebot/#jumpkr

I checked their American site http://www.ing-usa.com/us/index.htm and could not find an equally prominently displayed link for loans, I surfed around a bit and still have found nothing except a site that seems overall to be a lot more confusing and containing high-flown praise advertising language than the German site does
The first impression is that for an American it is as complicated taken care of your bank account as it is for me understanding the ifs and whens and hows of our offers for mobile phone contracts.]]></description>
		<content:encoded><![CDATA[<p>do I understand correctly that an American Bank customer is not told the actual percentage cost of his loan as compared to the nominal? Here is an offer from a major German online bank for loans that are meant for those who want more than their much more expensive overdrafts.</p>
<p><a href="https://www.ing-diba.de/kundenservice/produkte/gesamtangebot/#jumpkr" rel="nofollow">https://www.ing-diba.de/kundenservice/produkte/gesamtangebot/#jumpkr</a></p>
<p>I checked their American site <a href="http://www.ing-usa.com/us/index.htm" rel="nofollow">http://www.ing-usa.com/us/index.htm</a> and could not find an equally prominently displayed link for loans, I surfed around a bit and still have found nothing except a site that seems overall to be a lot more confusing and containing high-flown praise advertising language than the German site does<br />
The first impression is that for an American it is as complicated taken care of your bank account as it is for me understanding the ifs and whens and hows of our offers for mobile phone contracts.</p>
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		<title>By: Dan Palanza</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23947</link>
		<dc:creator><![CDATA[Dan Palanza]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 03:26:57 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23947</guid>
		<description><![CDATA[I agree. He believes in the Ponzi Scheme and is working to put it back into place.]]></description>
		<content:encoded><![CDATA[<p>I agree. He believes in the Ponzi Scheme and is working to put it back into place.</p>
]]></content:encoded>
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		<title>By: Michael Brenner</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23942</link>
		<dc:creator><![CDATA[Michael Brenner]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 01:48:10 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23942</guid>
		<description><![CDATA[No, it is much more subtle than that.  Corruption is multiform - and not always financial.]]></description>
		<content:encoded><![CDATA[<p>No, it is much more subtle than that.  Corruption is multiform &#8211; and not always financial.</p>
]]></content:encoded>
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		<title>By: Wayne Martin</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23940</link>
		<dc:creator><![CDATA[Wayne Martin]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 01:07:01 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23940</guid>
		<description><![CDATA[Here’s my problem with this idea—all of the current “oversight” and “protection” failed to catch Bernie Madoff, and it seem to have failed just about everywhere it was needed during this last meltdown.  We still have yet to get any official probes of the SECs failures during this debacle—and now we have people promoting yet again another “gov’ment” agency to “hep us”. 

So, presumably this Agency would add another 10-20,000 lawyers (complete with pensions) to the Federal Payroll.  But what would this bunch of lawyers do?  There are a lot of buzzwords in the wind here .. like “financial products”, “financial innovation” and “unfair practices”.. but often there isn’t much “there” “there” in the language chosen to describe the problem.  

What exactly will the employees of the Consumer Protection Agency do that will make our lives better?   And what is that they can do that Congress can’t?]]></description>
		<content:encoded><![CDATA[<p>Here’s my problem with this idea—all of the current “oversight” and “protection” failed to catch Bernie Madoff, and it seem to have failed just about everywhere it was needed during this last meltdown.  We still have yet to get any official probes of the SECs failures during this debacle—and now we have people promoting yet again another “gov’ment” agency to “hep us”. </p>
<p>So, presumably this Agency would add another 10-20,000 lawyers (complete with pensions) to the Federal Payroll.  But what would this bunch of lawyers do?  There are a lot of buzzwords in the wind here .. like “financial products”, “financial innovation” and “unfair practices”.. but often there isn’t much “there” “there” in the language chosen to describe the problem.  </p>
<p>What exactly will the employees of the Consumer Protection Agency do that will make our lives better?   And what is that they can do that Congress can’t?</p>
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		<title>By: Bayard</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23939</link>
		<dc:creator><![CDATA[Bayard]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 01:06:40 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23939</guid>
		<description><![CDATA[I agree, and vote for Elizabeth Warren to be in charge of consumer protection.  Boy would she be great.

Don&#039;t get me wrong, but Ben Bernanke has his hand full always, and there is no reason to create additional pressures to take action with potential negative ramifications vis-a-vis your central mission.  DO NO PUT THE FED IN CHARGE OF CONSUMER PROTECTION, PERIOD!!!!!]]></description>
		<content:encoded><![CDATA[<p>I agree, and vote for Elizabeth Warren to be in charge of consumer protection.  Boy would she be great.</p>
<p>Don&#8217;t get me wrong, but Ben Bernanke has his hand full always, and there is no reason to create additional pressures to take action with potential negative ramifications vis-a-vis your central mission.  DO NO PUT THE FED IN CHARGE OF CONSUMER PROTECTION, PERIOD!!!!!</p>
]]></content:encoded>
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		<title>By: Anonymous</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23933</link>
		<dc:creator><![CDATA[Anonymous]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 00:23:38 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23933</guid>
		<description><![CDATA[I know. Sucks huh?]]></description>
		<content:encoded><![CDATA[<p>I know. Sucks huh?</p>
]]></content:encoded>
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	<item>
		<title>By: Yakkis</title>
		<link>http://baselinescenario.com/2009/08/13/can-the-federal-reserve-protect-consumers/#comment-23931</link>
		<dc:creator><![CDATA[Yakkis]]></dc:creator>
		<pubDate>Fri, 14 Aug 2009 00:07:46 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4650#comment-23931</guid>
		<description><![CDATA[(no offence intended to the people writing this blog)]]></description>
		<content:encoded><![CDATA[<p>(no offence intended to the people writing this blog)</p>
]]></content:encoded>
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