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mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

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 Post subject: No regulator had a perfect record leading up to the crisis
PostPosted: 15 Nov 2009, 6:40 am 
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Joined: 29 Jan 2008, 6:06 pm
Posts: 731
Tom Braithwaite in Washington wrote:
White House hits out at Fed plan

November 14th, 2009

Plans to strip the Federal Reserve of its bank supervision powers were rebuffed yesterday in two separate speeches by senior Obama administration officials.
Chris Dodd, the Senate banking committee chairman, this week published draft legislation to merge four US banking regulators into one, with the Fed the most high-profile loser.

However, Austan Goolsbee, a White House economist, and Neal Wolin, deputy Treasury secretary, both pushed back against the plan yesterday as the administration abandoned its laisser faire approach to the versions of regulatory reform circulating in Congress.

"No regulator had a perfect record leading up to the crisis," said Mr Wolin at the American Bar Association. "But in our view, the Federal Reserve is the agency best equipped for the task of supervising the largest, most complex firms."

Mr Dodd's bill goes -further than a competing version in the House of -Representatives and much further than the administration's original ideas in creating a banking regulator to resolve what he called the "alphabet soup" of supervisors.

Staff drafting the bill tried to take account of fears that the Fed would be deprived of information necessary for ensuring financial stability and carrying out monetary policy. They sought to ensure that the central bank could get whatever information it needed from the largest US institutions at any time.

However, yesterday's speeches showed that their efforts had not proved sufficient to get the administration to back the plan, even though an official said last week that he was open to the idea.

"If they [the Fed] are not integrally involved with the actual regulation and oversight of the institutions, you can, if you do it wrong, get in to a left hand doesn't know what the right hand is doing kind of problem in a crisis," said Mr Goolsbee at a conference organised by the Bloomberg news agency.

He noted that "they had a lot of problems in the UK as well" where the Financial Services Authority acted as a single regulator separate from the Bank of England.

On Monday, the Senate banking committee will hear opening statements in support of its bill before a formal revision begins in December. If the bill is approved by the committee and then by the full Senate it will be combined with a House text before being signed into law by the US president. At any point, the single regulator proposal could be dropped.

Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.


Source:http://www.ft.com/cms/s/0/428d5cf0-d0be-11de-af9c-00144feabdc0.html




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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.



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