The Late, Late, Late Government Shutdown Megathread

[CountDeMoney]

There was a big discussion about Warren.

She didn't do anything except publicly criticize the agreement. Seedy made it sound like she was gonna filibuster or something.

She simply read the small print that was put in at the last minute. 

[Razgovory]

Interesting question.  If both Rand Paul and Warren or Cruz and Warren are against it does that mean Speiss Stands with Warren or Cruises with her?

[derspiess]

To be perfectly honest, I've had so much going on lately that I hadn't read much about the whole thing-- it really crept up on me.  My gut tells me to follow Cruz and Paul, so if she is with them on this I suppose I might be Explorin' with Warren.

[garbon]

Wow, I think you might be a good example of how it isn't generally a good idea to just go with one's gut.

[11B4V]

If I got this right by reporting, Obama and Boinker both pushed this so to speak. Both party's extreme elements are in a twit.

[The Minsky Moment]

My gut tells me to follow Cruz and Paul

There are good GI medications for that.  See a doctor before your condition worsens.

[derspiess]

My gut tells me to follow Cruz and Paul

There are good GI medications for that.  See a doctor before your condition worsens.

I'm already on Pentasa. 

[jimmy olsen]

Wait, why is this Warren's fault?  Isn't there already a bloc of Republicans against this?

They're both against it for different reasons.

[KRonn]

So the Dems will be the hostage takers, bombers, terroristas this time! Lol. Same labels tossed at Repubs, and I'm sure , the Repubs also felt they had good reason for the last faux shut down too. And it isn't even a govt. shutdown, these things just shut down a small, tiny portion of the government but our pols do all they can to make sure the "shut down" is as visible as possible. Like shutting down the WW2 memorial to vets but later opened up for an illegal immigrant demonstration. Lol. This stuff is so cynical and we're the pawns in the game they play. Most of all, the Dems are annoyed mainly over one item in the massive tax bill? Repubs are annoyed at other parts too. Those issues get all the noise but the bill is massive, so WTF else is in this massive tax bill to be annoyed over by all of us paying the freight?   

[Admiral Yi]

4 to 1 there's no shutdown before the next Congress is seated.

[Jacob]

4 to 1 there's no shutdown before the next Congress is seated.

Yeah I agree, no shutdown.

[DontSayBanana]

Do you know what Dodd-Frank did to derivatives, and what this amendment would change?

Well, for starters, you're painting with too broad a brush... I think the particular beast you're looking for is "security-based swaps," which are regulated by the SEC (everything else falls under the CFTC).

1- the proposed amendments create a double-Irish-like loophole with respect to US branches of foreign banks not being required to be insured.

2- since banks proved they couldn't be trusted to act in their depositors' best interests with respect to swaps and security-based swaps, the gub'mint told them they had to keep their deposit and swap operations separate from each other.  There were allowances for smaller operations with very limited exposure to swaps, and these proposed amendments greatly increase the exposure before the split requirement comes into play.

I'm also going to call your bluff and say you probably haven't sat down and read pp. 615-18 of the bill, which effectively tears down the Chinese wall by filling it with holes.  If you'd like to, here it is in all its glory, and no, I'm not copy-pasting three and a half pages: http://www.gpo.gov/fdsys/pkg/CPRT-113HPRT91668/pdf/CPRT-113HPRT91668.pdf

[Admiral Yi]

After reading pages 615 to 618 of that PDF I still have no idea what the change would do.

[MadImmortalMan]

ZeroHedge warning:

[MadImmortalMan]

All right, so now that Elizabeth Warren (D-Harvard) and Ted Cruz (R-Harvard) have had their say...what's the verdict?