"Naked" News: Barney Frank Eyes Derivatives, SEC Bans Illegal Shorting

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It should be illegal to mention "naked" and Barney Frank in the same headline.

Are you better off than you were six months ago? Love that change thing. Next six months - Obamacare and more Obamonomics.

So many jokes on this one so little time........Unfortunately the public will never know how much damage BF has done to this country.

Shorting adds volatility to the markets and causes bigger swings of losses and gains. So does having a fiat currency. Why aren't we bothering to make fiat money illegal, too?

Yogi, I truly believe the public does know the damage that Rep. Frank has done. That is not the issue. The fact that he has not been held responsible for his actions is the crimminal aspect that will never be addressed. And, the fact that the people in his district continue to put this disengenuous person back in office defies any logical thought. ////// My thoughts and opinions are expressed without the influence of Rush, FOX News, Beck, Hannity or any other conservative media providers.

Well, it's about time that the United States Government has woken up, to the abusive of hedge fund practices. If, the U.S. Government thinks it's in the interest of the American people to allow our capital markets to be attcked and destroyed then God help us all. Naked Sort selling is and always has been Illegal, yet the SEC has refused to enforce the law...why? My opinion is that the SEC has been infiltrated and therefore Coruupted by the crooks on Wall street. The revolving door that exist between Wall Street and the Security&Exchange Commission is well known. The American people have paid darely for the SEC ineptitude.-johnc222

The gate keepers will now be carefull that only qualified people get housing loans. Trust is being established with new government regulations. The bankrupt banks are on the road to recovery.

The SEC has to clear its throat from time to time just so people will think it's doing something. Without referees, basketball would look like Wall Street. Without the SEC, Wall Street would look like Las Vegas. And without Naked Girls, Las Vegas would look like Main Street America .... used to look. Clears throat. Exits left.

Popoy - Thursday July 30, 2009 01:36PM EDT +++++++++Please explain how Franks and the Dems caused all the problems. Thank You

Forget reporting short CDS positions to regulators. What good would that do? They'll be asleep at the wheel anyway. Companies should have to report short credit default swaps to shareholders, right on their balance sheets, as liabilities. Marked to market.

How will companies hedge risk if they can't get anyone to take the "naked" side of a swap or other derivative? For every investor trying to insure a position with a derivative, there's an evil speculator on the other side of that trade making it possible. But forget all this silly finance discussion, let's get back to how Barney Frank is a pervert.

Is it not strange that US Representative Barney Frank (AKA Congressman Ben Dover) now says he SUPPORTS Ron Paul's bill to audit the FED, despite the fact that he has been holding it up committee? Honestly, can we believe anything this "guy" says??

It will not take long before the Wall Street geniuses find a way to work around the regulations, buy or stack the regulators or bribe the politicians. Barney is a fox and the people of Massachusetts are gullible.

I've said it before BF must be doing a fabulous job for the home folks because on the national stage he Suc_s,...sorry... he's a pain in the ___,...ooops...he's sc_ewing america,... nope don't want to go there either, he needs to be spanked - no that's like a reward....ummm this is difficult...BF has been a bad boy!

I will start a fundraiser to pay California's budget defecit off if they get rid of Pelosi as well. NO INCUMBENT 2010

Barney Frank should only be in charge of keeping tabs on the cumings and goings of his boyfriends. Something he forgot to take care of a few years back. How did this loser ever acquire an ounce of power in this or any other government. For years he has amply demonstrated his incompetence for all to see. Liberal buffoons in Massachusetts are responsible for this guy still being on anyone's radar.

2:27PM EDT wrote: Popoy - Thursday July 30, 2009 01:36PM EDT +++++++++Please explain how Franks and the Dems caused all the problems. Thank You ----------- He did not say that. This is what he wrote: ------Barney Frank you eyed on the derivatives but you never eyed what you done....Affordable Housing and Easy Credit for all even Sub-Debtors.......You cause this all problem it self and your gang in the congress.......I do not believed you liberal Democrats.........You are useless pawn.... ------- I am not big fan of Rep Frank because he is quite the lying gasbag, but he did contribute to the subprime mess with his legislation, lied before Congress regarding the viability of FRE/FNM and continues to be a nothing more than a blame-shifting, irresponsible politician. Regardless of the political affiliation, GOP as well as DEMS legislated this mess. /////// My comments and opinions are expressed without the influence of Rush, FOX News, Beck, Hannity or any other conservative media providers.

Why was it ever allowed it it's illegal? How was it ever legal to buy a CDS for debt you don't own? Looking at the prior comments, it's all somehow Barney Frank's fault. Unless it's all Obama's fault. In six months, they haven't fixed everything broken over the last decade. Sure, let's not blame the people who actually ran things and caused the problems. Might have to do more than just gripe at the people trying to fix it.

Bring out the consultants, they can tell us we don't really need regulation because this situation will never happen again. Really? Bet you it happens exactly the same way within the next 10 to 15 years. Lets get the game going again, because we need to accelerate this downward spiral into poverty. Rich people need to get richer - no more regulations - cause they might not get as rich. But don't worry, when you are living in a tent next to the train tracks you can hate the government for causing your problems.