Suspending the Rules

Suspending the rules immediately admits to a non-conforming identity.

The U.S. House “agreed to suspend the rules and pass the bill, as amended.”

The financial-reform provision in the “CRomnibus” bill will not pass the Senate without being connected to spending required to keep the government open to do “The People’s” business. The rules have been suspended, which is an act of self-determination, to allow for what the rules do not “otherwise” allow in “normal” order.

(The result is chaos derived from the order.)

“Complicated Stuff”

Political analysts say the change to financial-reform Senator Warren opposes is “complicated stuff.”

What is complicated about the “Volcker Rule” is that derivatives operate with detriment in late order. By design, it looks like the result derives from the random risk we normally associate with gambling, which has an exculpatory value, arguing that the outcome is a trick of the fates and not intended to do harm.

Out of thousands of pages, the one rule in Dodd-Frank that resembles Glass-Steagill is Volckers recommendation that big banks “push out” their derivatives operations, disconnecting them from government-insured, FDIC assets. Suspending this rule is a “moral hazard” because it has a “perverse incentive.”

Not conforming to the push-out rule means that when financial crises occur (and like Dodd-Frank says, “they surely will”), by no accident, the derivative value unwinds to reveal risk hidden in “dark markets.” The shock of the added (hidden) risk is so big that there is no choice but to use public funds to bail out firms that are TOO BIG to fail while everybody else goes under. This is nothing but a racketeering scheme and Congress is suspending all the rules to accommodate it!

No, the devil isn’t making them do it. It is an act of self-determination, and the trick now is to conform it to the consent of the governed, which will then have the retributive value (the fully assumed risk–the determination) of a false attribution, sure to
“otherwise” derive chaos from the rules of order.

Advertisements

About griffithlighton

musician-composer, artist, writer, philosopher and political economist (M.A.)
This entry was posted in Political-Economy and Philosophy and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s