Dallas:

The calls for higher interest rates to stem inflation are premature when all of the growth has been related to gov stimuli. We are still at the brink. The expansion in business gains are mostly financial which does nothing for labor. The history of Labor's share of Productivity Gains has a longer history than just Boy-George and goes back to Reagan.

Transparency on W$ would certainly cause banks and W$ to act in a credible manner with regard to derivatives, CDO/MBS, CDS, etc. No moves a foot there. The proposed CFPA is a bandaid in comparison to such such a move and was all Brooksley Born was asking for in 1999. A revision to the 2005 Consumer Protection and Bankruptcy Act allowing courts greater freedom in Bankruptcy Cases would open the back door for consumers and companies alike and place a greater burden upon banks to loan responsibly or lose profits. The recent Credit Card Modernization Act did not have a Usury limit in it because of the spectre of the lack of available credit boogy-man. The CRA needs to be modernized to cover all oriniginators and not just Freddie and Fannie (80% of all subprime loans came from originators not covered by the CRA). All tranched CDO/MBS consisting of Mortgages shall have original and registered signed Notes (copy of signature and document) rather than MERS electronic endorsements. <link>

As I said in the attached tax break chart, take note of where the >$200,000 salary starts.

Until everyone begins to understand that the Financial Industry asset appreciation is not going to employ labor, we have a long way to go. And even then Automation will threaten global labor far worse than globalization has threatened US Labor.