Comments on: The Dangers of Derivatives http://hopetoprosper.com/the-dangers-of-derivatives/ Simple Practices that Lead to Wealth Wed, 28 Jul 2010 21:17:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Bret Frohlich http://hopetoprosper.com/the-dangers-of-derivatives/comment-page-1/#comment-70 Bret Frohlich Wed, 02 Sep 2009 22:52:19 +0000 http://www.bretfrohlich.com/?p=712#comment-70 The proposed legislation is stuck in the House Financial Services Committee and I couldn't find any significant discussion of it. Unfortunately, this committee is chaired by Barney Frank, so they are probably asleep at the switch. They may also just be at recess. Let's hope they do something to keep this trillion dollar bailout from happening again. The SEC is amazingly inept. I read an article today on Yahoo Finance regarding the mishandling of the Madoff fraud. Despite six complaints and five separate SEC investigations where they caught Madoff in obvious lies, no one at the SEC checked Madoff's books. Luckily, they have fired some of the people at the SEC. Market manipulation of commodity prices is a much bigger deal. Hedge funds and investment banks are making billions, while inflating these prices and no one is protecting consumers. I heard that a barrel of oil gets traded an average of 27 times before it winds up in your gas tank. This is way wrong and it needs to be stopped. Read the Rolling Stone article above if you want to see what is really going on with commodity prices. It makes me angry just to think about it. The proposed legislation is stuck in the House Financial Services Committee and I couldn’t find any significant discussion of it. Unfortunately, this committee is chaired by Barney Frank, so they are probably asleep at the switch. They may also just be at recess. Let’s hope they do something to keep this trillion dollar bailout from happening again.

The SEC is amazingly inept. I read an article today on Yahoo Finance regarding the mishandling of the Madoff fraud. Despite six complaints and five separate SEC investigations where they caught Madoff in obvious lies, no one at the SEC checked Madoff’s books. Luckily, they have fired some of the people at the SEC.

Market manipulation of commodity prices is a much bigger deal. Hedge funds and investment banks are making billions, while inflating these prices and no one is protecting consumers. I heard that a barrel of oil gets traded an average of 27 times before it winds up in your gas tank. This is way wrong and it needs to be stopped.

Read the Rolling Stone article above if you want to see what is really going on with commodity prices. It makes me angry just to think about it.

]]> By: Mom http://hopetoprosper.com/the-dangers-of-derivatives/comment-page-1/#comment-69 Mom Wed, 02 Sep 2009 19:45:34 +0000 http://www.bretfrohlich.com/?p=712#comment-69 Was the proposed legislation to curb derivatives (on July 30th) ever released? I'm surprised that the SEC doesn't try to regulate these and also the commodities manipulation. What, exactly, is the function of the SEC if not to regulate the functions of the market? Was the proposed legislation to curb derivatives (on July 30th) ever released? I’m surprised that the SEC doesn’t try to regulate these and also the commodities manipulation. What, exactly, is the function of the SEC if not to regulate the functions of the market?

]]> By: Famous money quotes http://hopetoprosper.com/the-dangers-of-derivatives/comment-page-1/#comment-68 Famous money quotes Fri, 14 Aug 2009 19:55:09 +0000 http://www.bretfrohlich.com/?p=712#comment-68 [...] from BretFrohlich.com presents The Dangers of Derivatives, and says, "Risky derivatives and securities were the primary cause of the Global Fianncial [...] [...] from BretFrohlich.com presents The Dangers of Derivatives, and says, "Risky derivatives and securities were the primary cause of the Global Fianncial [...]

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