I was pleased there was a concensus on Iran and that President Medvedev could bring the leaders together. It will be a nice finish to his Presidency. Added to the accomplishments was a discussion and consensus on austerity vs growth. Let's home the global economy can stop growing in 'fits and starts' so much as a continuity that provides security for all the nations. Nations need to put their people first while allowing concern for investment instruments, but, generally there probably should be a return to something more "Glass - Steagal"l which began the FDIC and separated investing from banking.
The FDIC is a clear indication of the thought placed on security for citizens. That should never be sacrificed for those that have MONEY TO WASTE as venturists.
With the surprising news from Morgan-Stanley recently, there can be no doubt consumers need more protection and even separation from the risk takers, even if that means their governments don't recognize the investment banks as viable from the standpoint of a stable entity in global economies.
Corporations need their own equity content to their treasuries and not a 'line of equity' with an end to risk taking to make stockholders more important than the USA economy they rely on for their product profit margin. Citizens are allowed to have security in life and a safe home to retire into.
Published: May 19, 2012 5:17 PM
By
DAVID McHUGH (AP Business Writer)
WASHINGTON - (AP) -- President Barack Obama (click here) and other leaders of wealthy nations underscored an increasing consensus that their countries need to adopt growth measures alongside relentless budget cutbacks to work their way out of their debt troubles.
It's a juggle that's much harder in real life than it is on paper.
Their eight-paragraph statement from the presidential retreat at Camp David, Md., on Saturday seamlessly bridged both sides of the austerity versus growth debate and let each decide exactly what the new growth emphasis is going to mean. And it said little about where the money for more spending might come from....
Morgan Stanley is more or less the canary in the mine and I simply don't believe any government has an obligation to rescue them ever again. If this venue continues the global economy will never stabilize and insure citizens security or a future they have relied upon.
I do believe Morgan Stanley passed the most recent stress test, too. Hello? And now the total lose will be close to $5 billion US. That can't be tolerated when each country on each continent are trying to recover from that last party Wall Street held.
