Regulation nation

[heironymouspasparagus]

Saw this morning on Fox Regulation Nation the following story about a guy (commercial fisherman) who caught a bluefin tuna illegally - with a net rather than a pole.  Got Fox to put him on national TV with his whining with Steve Doushy lamenting how unfair it is to have regulations on taking fish.  Then made a cute little quip about how he normally uses dynamite...

And how terrible it is that those oppressive government regulations are gonna prevent him from keeping the proceeds from his $5,000 fish!  I guess if I "accidently" caught a humpback whale in a net, according to Fox, I should get to render it for the oil and meat, despite any regulations that might apply....

That would be just the way to run a day at the lake bass fishing - use dynamite!

http://video.foxnews.com/v/1288871201001/fisherman-forced-to-give-up-800-pound-tuna

What a class act!!  All of it low.

[Gaspar]

Saw this morning on Fox Regulation Nation the following story about a guy (commercial fisherman) who caught a bluefin tuna illegally - with a net rather than a pole.  Got Fox to put him on national TV with his whining with Steve Doushy lamenting how unfair it is to have regulations on taking fish.  Then made a cute little quip about how he normally uses dynamite...

And how terrible it is that those oppressive government regulations are gonna prevent him from keeping the proceeds from his $5,000 fish!  I guess if I "accidently" caught a humpback whale in a net, according to Fox, I should get to render it for the oil and meat, despite any regulations that might apply....

That would be just the way to run a day at the lake bass fishing - use dynamite!

http://video.foxnews.com/v/1288871201001/fisherman-forced-to-give-up-800-pound-tuna

What a class act!!  All of it low.

Works well and more humane.

[heironymouspasparagus]

Works well and more humane.

That's what I'm saying!!  I still love the dynamite, though... I love loud noises and bright flashes!!  For the 4th of July, rather than the 500 or 1,000 strings of Black Cats, I want the 500 string of sticks of dynamite!

[Gaspar]

That's what I'm saying!!  I still love the dynamite, though... I love loud noises and bright flashes!!  For the 4th of July, rather than the 500 or 1,000 strings of Black Cats, I want the 500 string of sticks of dynamite!

I can do better than that! 

It's called a bird banger


Fires a projectile about 100ft then explodes.  Much better than an M100, and you can fire it right over your neighbor's house on a quiet Saturday morning.  Shakes the whole house!

[Conan71]

I can do better than that!  

It's called a bird banger


Fires a projectile about 100ft then explodes.  Much better than an M100, and you can fire it right over your neighbor's house on a quiet Saturday morning.  Shakes the whole house!

The bangers with the screamer attachment are best.

Edit: no I really wasn't trying to make a sexual connotation out of that.

[Red Arrow]

The bangers with the screamer attachment are best.

Edit: no I really wasn't trying to make a sexual connotation out of that.

Too late.

[Gaspar]

Burner?

[dbacks fan]

The bangers with the screamer attachment are best.

Edit: no I really wasn't trying to make a sexual connotation out of that.

[dbacks fan]

That's what I'm saying!!  I still love the dynamite, though... I love loud noises and bright flashes!!  For the 4th of July, rather than the 500 or 1,000 strings of Black Cats, I want the 500 string of sticks of dynamite!

[dbacks fan]

Speaking of regulations, it now appears federal regulators may have told banks to "Back date and adjust their books" prior to the start of the financial meltdown.

In the whodunit of the financial crisis, Wall Street executives have pointed the blame at all kinds of parties—consumers who lied on their mortgage applications, investors who demanded access to risky mortgage bonds, and policy makers who kept interest rates low and failed to predict a housing market collapse. 

But a new defense has been mounted by a bank executive: my regulator told me to do it.

This unusual rationale is presented by the bank executive in one of the few fraud suits brought against a mortgage banking official in the aftermath of the financial crisis—the one filed by the Securities and Exchange Commission against Michael W. Perry, former chief executive of IndyMac Bancorp, which failed spectacularly in mid-2008.

After being accused of fraud and misleading investors about his company's financial health just before it collapsed, Mr. Perry set up a Web site this fall to defend himself.

In a document on the site, he said that a top official at the federal Office of Thrift Supervision, IndyMac's overseer, directed and approved an action related to the S.E.C.'s allegations.

http://www.cnbc.com/id/45415092

[Hoss]

Speaking of regulations, it now appears federal regulators may have told banks to "Back date and adjust their books" prior to the start of the financial meltdown.

http://www.cnbc.com/id/45415092

Bet Gassy places the blame on Obama.  He was campaigning for the election at that time, after all...

[dbacks fan]

Bet Gassy places the blame on Obama.  He was campaigning for the election at that time, after all...

I found it interesting that the regulator in question was involved in the S&L collapse along with Keating during the Regean administration, was demoted and worked his way back to where he was under the Bush administration. S&L dereg then Banking dereg? Must be one unlucky SOB to be involved in two financial disasters.

[dbacks fan]

Interesting paper from the FDIC on the S&L meltdown, and it has quite a bit of similarity to the '08 meltdown in the fact that they were mostly caused by bad mortgage practices, and lack of regulation by the gov't.

http://www.fdic.gov/bank/historical/history/167_188.pdf

[heironymouspasparagus]

It's more of a "hand in hand" relationship between regulator and regulatee (or hand in pocket...) - the bank gets to run free, while the regulator has a job after retirement.

For the pensions these guys get, there should be no employment after retirement.  If they are gonna work - especially for the industry they regulate - then the pension is forfeit.  Or better yet, employment is prohibited in the industry.

[Teatownclown]

fishy?