Christopher Cox takes pride in his response to the U.S. financial crisis.
Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
.S. Securities and Exchange Commission chairman Christopher Cox, responding to heavy criticism, said in an interview published on Wednesday he takes pride in his response to the U.S. financial crisis. "What we have done in this current turmoil is stay calm, which has been our greatest contribution -- not being impulsive, not changing the rules willy-nilly, but going through a very professional and... [more]
.S. Securities and Exchange Commission chairman Christopher Cox, responding to heavy criticism, said in an interview published on Wednesday he takes pride in his response to the U.S. financial crisis.
"What we have done in this current turmoil is stay calm, which has been our greatest contribution -- not being impulsive, not changing the rules willy-nilly, but going through a very professional and orderly process that takes into account unintended consequences and gives ample notice to market participants," Cox told The Washington Post.
This caution "has really been a signal achievement for the SEC," said Cox.
"When these gale-force winds hit our markets, there were panicked cries to change any and every rule of the marketplace: 'Let's try this. Let's try that.' What was needed was a steady hand," he said.
http://www.cnbc.com/id/28379756
So you think sellers are in denial?
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Response by alpine292
over 17 years ago
Posts: 2771
Member since: Jun 2008
Is Cox smoking weed?
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Response by jsmith9005
over 17 years ago
Posts: 360
Member since: Apr 2007
What does this have to do with Manhattan RE?
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Response by alpine292
over 17 years ago
Posts: 2771
Member since: Jun 2008
Almost nothing stevejhx posts has to do with Manhattan RE.
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Don't think that the current Wall Street mess affects Manhattan RE?
How many people lost their jobs & fortunes...?
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Response by manhattanfox
over 17 years ago
Posts: 1275
Member since: Sep 2007
An attempt to instill confidence is not denial as much as stating the party line. Simarly, Warren Buffett told Americans to buy stocks with their excess cash in early October . .... Before the market fell another 25%. Be calm.... invest in a market where I have all of my billions invested.... Slow and steady....
Jsmith9005/Alpine292 -- All of these market comments affect nyc real estate. REAL ESTATE IS NOT IN A VACUUM UNTO ITSELF. Are you too myopic in scope to understand the impact? If so -- You should not be investing....And we have no interest in your whining.
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
alpine is upset because he claimed that prices have not fallen 20% yet people (including me) gave dozens of examples where they have.
mf - I don't think anyone (including me!) could have predicted that they would let Lehman fail, and the disastrous outcome it had. Many people have lost 60% - 70% of their wealth. I agree waiting is the right thing to do, but it's not easy.
Cox is an incompetent. The SEC will not exist very much longer. We will soon have what the Brits have (not that it helped them, either), an omnibus Financial Services Authority.
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Response by manhattanfox
over 17 years ago
Posts: 1275
Member since: Sep 2007
Sure -- my point is that Warren recommended placing monies in the market after lehman failed....
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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Yes, but there was a huge (and unforeseeable) credit freeze in October and November. Look at LIBOR.
WB is a long-term investor. From that perspective he is likely to be right.
Is Cox smoking weed?
What does this have to do with Manhattan RE?
Almost nothing stevejhx posts has to do with Manhattan RE.
Don't think that the current Wall Street mess affects Manhattan RE?
How many people lost their jobs & fortunes...?
An attempt to instill confidence is not denial as much as stating the party line. Simarly, Warren Buffett told Americans to buy stocks with their excess cash in early October . .... Before the market fell another 25%. Be calm.... invest in a market where I have all of my billions invested.... Slow and steady....
Jsmith9005/Alpine292 -- All of these market comments affect nyc real estate. REAL ESTATE IS NOT IN A VACUUM UNTO ITSELF. Are you too myopic in scope to understand the impact? If so -- You should not be investing....And we have no interest in your whining.
alpine is upset because he claimed that prices have not fallen 20% yet people (including me) gave dozens of examples where they have.
mf - I don't think anyone (including me!) could have predicted that they would let Lehman fail, and the disastrous outcome it had. Many people have lost 60% - 70% of their wealth. I agree waiting is the right thing to do, but it's not easy.
Cox is an incompetent. The SEC will not exist very much longer. We will soon have what the Brits have (not that it helped them, either), an omnibus Financial Services Authority.
Sure -- my point is that Warren recommended placing monies in the market after lehman failed....
Yes, but there was a huge (and unforeseeable) credit freeze in October and November. Look at LIBOR.
WB is a long-term investor. From that perspective he is likely to be right.