The Ongoing New Financial Era Thread

Carl Spackler
Posts: 416
Joined: Mon Oct 02, 2017 3:22 pm

Re: The Ongoing New Financial Era Thread

Postby Carl Spackler » Mon Jun 25, 2018 1:07 am

I don't know that turning away business is against the Consititution in the bank anti 2A groups and firearms businesses. There are plenty of other banks around so it should not be a hardship or course there were plent of cake bakers around as well. I'm no bothered by things like this as its a pompus stunt to attract other business through self righteous action. The moral background is cloudy since we can never know what happened in the board room when it was decided to go anti 2A business - business's. What is bandied in ads and press releases is word smithed, massaged, PC copy of compromised language that is hoped to pull off a messaging that dosen't hurt business or attract the hysteria of the week club and backfire.
So I got that going for me...which is nice. It's a cross between Kentucky Bluegrass, Featherbed Bent and Northern California Sensimilla so you can play 36 holes on it,take it home at night and get stoned to the begesses belt

Carl Spackler
Posts: 416
Joined: Mon Oct 02, 2017 3:22 pm

Re: The Ongoing New Financial Era Thread

Postby Carl Spackler » Mon Jun 25, 2018 1:17 am

I don't know that turning away business is against the Consititution in the bank anti 2A stance toward firearms businesses. There are plenty of other banks around so it should not be a hardship or course there were plent of cake bakers around as well. A cost to change check printing and possibly a few accounting costs would be the obvious financial harm, insignificant.

The moral background is cloudy since we can never know what happened in the board room when it was decided to go anti 2A business - business's. What is bandied in ads and press releases is word smithed, massaged, PC copy of compromised language that is hoped to pull off a messaging that dosen't hurt business or attract an hysteria of the week club and backfire.

The cake baker was more like an individual, not a larger corporate business group and wasn't looking to gain press, it happen to them vs the bank stepping out to initiate the issue. Time will tell what happens. Likely we won't hear about it as the PR launch looses steam.
So I got that going for me...which is nice. It's a cross between Kentucky Bluegrass, Featherbed Bent and Northern California Sensimilla so you can play 36 holes on it,take it home at night and get stoned to the begesses belt

Blue&White
Posts: 2396
Joined: Sat Aug 12, 2017 10:01 am

Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Aug 17, 2018 12:24 pm

President Trump asks SEC to study abolishing quarterly earnings reports

I'm quick to give Trump shit so I'll give him credit when he does something right. I like everything about this story. First, I like the idea that, rather than just make a decision and assume he knows everything about it, he's asking the relevant regulatory body to conduct a study on the potential impacts. I like that. You can all make SEC/porn jokes here, but they have the expertise to look at the relevant issues around the potential of fraud and market manipulation.

Second, I am on board with the issue. I think the drive towards quarterly reporting is something that has contributed to a lot of market manipulation and bad decisions as companies operate on a 90 day cycle. Working in corporate America I have some first hand experience as to the bullshit that goes on to meet quarterly numbers. I don't see a downside to 6 month reporting, but I'm glad there is an ask to evalaute it before a decision is made.

Usually I reflexively wince at anything that the CEO class is in favor of because I think it almost always comes at the expense of ordinary workers and people. But, this may be the rare exception where there is mostly upside and very little downside to anyone.

I expect you'll see a big push for a change sometimes in 2019. I'm not sure if it's simply a regulatory issue or if there is any legislation that needs to be passed. I don't think there is, but if there is it's a sure bet that it will run into problems if the Democrats take the House because they won't give him an inch, even if it makes sense to do so. We'll see.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
Posts: 1623
Joined: Sun Aug 13, 2017 6:59 pm

Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Aug 17, 2018 12:43 pm

I'm not sure if it's simply a regulatory issue or if there is any legislation that needs to be passed.

I suspect it's the latter. It's my understanding that the quarterly reporting requirement was written into the original Congressional legislation that created the SEC back in the 1930s.

______________

I'm somewhat ambivalent about this. There was a reason the quarterly reporting requirement was established in the first place. It was so investors wouldn't be oblivious to a company's problems until it was too late.
Fire Alex Cora. (On hold pending further review)

Blue&White
Posts: 2396
Joined: Sat Aug 12, 2017 10:01 am

Re: The Ongoing New Financial Era Thread

Postby Blue&White » Fri Aug 17, 2018 1:19 pm

A company is unlikely to change dramatically over 3 months. Sure, it can happen, but I think it's rare. I think 6 months is reasonble.

What I am hoping, though, is the SEC looks at historical data and comes to some fact based conclusions about the potential impacts and makes a recommendation based on that. And, then I hope Trump and Congress make their decisions based on that. I don't know if the SEC is goign to do that, and I have serious doubts about any elected official, and least of all Trump, letting a silly thing like facts get in the way of making a decision they wish to make, but that's what I hope happens.

I lean towards liking this, but I can be talked out of it if the data and the facts show it's a bad idea. My instinctive feeling is the quarterly based system does more harm than good, but that may not be correct.
Alex Cora sucks. Mickey Callaway sucks. Baseball sucks. Everything and everyone just sucks. Is it football season yet?

psu_dad
Posts: 1623
Joined: Sun Aug 13, 2017 6:59 pm

Re: The Ongoing New Financial Era Thread

Postby psu_dad » Fri Aug 17, 2018 1:50 pm

Like you, I'm still open to being convinced either way ... but there is No Way on God's Green Earth that this doesn't devolve into an ugly political fight.
Fire Alex Cora. (On hold pending further review)