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Topic: 2013-08-11 WSJ - Regulator Examines Bitcoin Practices (Read 3570 times)

hero member
Activity: 526
Merit: 508
My other Avatar is also Scrooge McDuck
im going to kick. poke. and prod at America all the way.... you got your selves into a right mess and the least i can do is laugh at you all while you suffer "im not very sympathetic to anyone these days" the fault is while you crash and burn you wont do it dignified youll take down other country's with you to...
Do you honestly see that as doing any good? Even if everyone outiside of the US made it a point to pick on an american daily, would that really help anything? All you're doing is making the weaker-minded murikans think that non-murkians are belligerent and want to avoid you.


with a bit of luck theres still a chance at recovery.
AFTER a major crash that destroys the dollar completely, yes, I grant you that... But even at that point your tactic hurts more than it helps.
legendary
Activity: 1400
Merit: 1013

 Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.

Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.

 Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.

Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.


Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION??

These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..."
"keeping New York on the cutting edge as the financial capital of the world" means breaking the kneecaps of anyone who tries to compete with the Manhattan mafia.
full member
Activity: 143
Merit: 100
So sexy, it hurts.

 Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.

Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.

 Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.

Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.


Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION??

These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..."


+1
hero member
Activity: 588
Merit: 500
legendary
Activity: 1554
Merit: 1002
and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.

im not raciest or sexist i just hate anything to do with America and anything to do with Americas "way of life" if America was a person it would be locked away in a small cell with restraints on.
You need to check yourself, mister. There is a HUGE difference in the american people and our evil overlords that are doing all the things you hate.

The last few years have woken up the vast majority of americans to knowing that they're not in control anymore... Things like PRISM, FISA courts and drone warfare in countries we're not even at war with are kinda hard to ignore. The problem is that the media still tells everyone that people with those feelings are in the minority... But we aren't. The last presidential election proved that when Ron Paul gathered larger crowds at his speeches than any other candidate, including obomba... yet the press just kept saying he had no chance and people believed that.

I'll grant you that the american 'way of life' is the major problem though... It allowed for our tyrants to rise and control so much. -But we're paying for it now and this country is going to crash and burn horribly because of it. -So don't be so eager to kick us while we're down... We've still got a long way further to fall.

if America was a person in my country and i had control it would have been shot several time over
Well that removes the possibility of your country being the UK. Wink

im going to kick. poke. and prod at America all the way.... you got your selves into a right mess and the least i can do is laugh at you all while you suffer "im not very sympathetic to anyone these days" the fault is while you crash and burn you wont do it dignified youll take down other country's with you to...

with a bit of luck theres still a chance at recovery. granted its a very small chance and your government like many other governments need to focus more at home than trying to control things they have no right to try and control

the major problems and a rather good saying is
"those who have the ability to control dont want the responsibility, and those that have the responsibility dont have the ability"
and i think iv just invented that XD
i now feel smart and superior and believe i have made my point  Cheesy
hero member
Activity: 526
Merit: 508
My other Avatar is also Scrooge McDuck
and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.

im not raciest or sexist i just hate anything to do with America and anything to do with Americas "way of life" if America was a person it would be locked away in a small cell with restraints on.
You need to check yourself, mister. There is a HUGE difference in the american people and our evil overlords that are doing all the things you hate.

The last few years have woken up the vast majority of americans to knowing that they're not in control anymore... Things like PRISM, FISA courts and drone warfare in countries we're not even at war with are kinda hard to ignore. The problem is that the media still tells everyone that people with those feelings are in the minority... But we aren't. The last presidential election proved that when Ron Paul gathered larger crowds at his speeches than any other candidate, including obomba... yet the press just kept saying he had no chance and people believed that.

I'll grant you that the american 'way of life' is the major problem though... It allowed for our tyrants to rise and control so much. -But we're paying for it now and this country is going to crash and burn horribly because of it. -So don't be so eager to kick us while we're down... We've still got a long way further to fall.

if America was a person in my country and i had control it would have been shot several time over
Well that removes the possibility of your country being the UK. Wink
member
Activity: 125
Merit: 10
On google finance front page in top stories!
https://www.google.com/finance
legendary
Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
"Because virtual currencies aren't backed by a central government like traditional ones are, regulators are worried they can be used for illegal activity"

Woot! The big-lie implication is, of course, that currencies backed by a central government cannot - straight face now - cannot be used for illegal activity.

It's a power grab, nothing else. Of course, it may work, and they will keep trying - it's what they do.



BCB
vip
Activity: 1078
Merit: 1002
BCJ
FROM: Benjamin M. Lawsky, Superintendent of Financial Services
DATE: August 12, 2013
RE: Notice of Inquiry on Virtual Currencies
______________________________________________________________________

http://dfs.ny.gov/about/press2013/memo1308121.pdf

BCB
vip
Activity: 1078
Merit: 1002
BCJ
The anarchists can argue all the want.

Anyone who received a subpoena should understand the severity. The NY DFS has unique power amongst the state regulators to prosecute criminally - and it has used it.  Lawsky demonstrated these powers last year against Standard Chartered and then recently against Deloitte.

Seek competent counsel if you have not already done so.
legendary
Activity: 1450
Merit: 1013
Cryptanalyst castrated by his government, 1952
""We believe that— blah blah," wrote Mr. Lawsky in a draft of the memo reviewed by The Wall Street Journal."

Very cosy.
BCB
vip
Activity: 1078
Merit: 1002
BCJ
http://online.wsj.com/article/SB10001424127887323585604579006880143449754.html?mod=googlenews_wsj

Robin Sidel, still employed and apparently unbattered from the Avalon/Joe Lewis/Phoenix fiasco, is writing about subpoenas sent to 11 bitcoin-focused businesses.

Seems regulators want information about virtual currency usage (in their quest to save idiot bitcoin users from their idiocy).  Perhaps the meetings will go well.

FYI, the Joe Lews reporter was Harriet Agnew.



Joint efforts deserve joint recognition:
http://www.teribuhl.com/2013/08/06/the-mess-the-wsj-made-famed-trader-joe-lewis-not-investing-in-bitcoins/

Did not know Sidel was involved. Great analysis in that article.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
I'm sure it would have easier to stop the Nazi's earlier than later .... as long as you keep re-drawing the line they'll keep stepping over it.

atleast they put the effort in to try and control the world... America arnt even doing that there just taking over the world by sending papers to other governments and other governments s**ting themselves and doing what ever there told

.... actually as far as I can tell it is just a small group centered in washington and new york ... and the rest of america seems to be too dumb/distrcted/unaware, or sh#ts themselves as you say ...
legendary
Activity: 1554
Merit: 1002
I'm sure it would have easier to stop the Nazi's earlier than later .... as long as you keep re-drawing the line they'll keep stepping over it.

atleast they put the effort in to try and control the world... America arnt even doing that there just taking over the world by sending papers to other governments and other governments s**ting themselves and doing what ever there told
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
I'm sure it would have easier to stop the Nazi's earlier than later .... as long as you keep re-drawing the line they'll keep stepping over it.
legendary
Activity: 1554
Merit: 1002
and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.
You're getting to the stage where you need to settle down.

What country are you in?  If you're in the UK or elsewhere Europe, don't think for a second the relevant authorities aren't looking closely at bitcoin. Oh, and they record all internet and other telecoms data too. Grin

ah but theres a big difference the UK and most of Europe are to damn lazy to do anything worth while...
hell look at FH sat on the back door step of the UK did we do anything nooooo...

not to mention i do everything i can to get Mr Cameron out of power hell id encourage riots for it Cheesy

i hate all these educated a**holes that get in power and dont have a clue how things work.... in the words of Jeremy Clarkson. "they should be take outside and shot"
legendary
Activity: 1092
Merit: 1001
Touchdown
and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.
You're getting to the stage where you need to settle down.

What country are you in?  If you're in the UK or elsewhere in Europe, don't think for a second the relevant authorities aren't looking closely at bitcoin. Oh, and they record all internet and other telecoms data too. Grin
legendary
Activity: 1092
Merit: 1001
Touchdown
Agree with the sentiment, Marcus, but I think Lawsky was a bit late to that game.
legendary
Activity: 1554
Merit: 1002
and once again America trying to control the world.... im getting to the stage where im going to start encouraging people to attack America....

i now full blown hate America.. if you come to the UK or Europe and your American your probably better of lieing and saying you Canadian. less chance youll get beaten up.

im not raciest or sexist i just hate anything to do with America and anything to do with Americas "way of life" if America was a person it would be locked away in a small cell with restraints on.

if America was a person in my country and i had control it would have been shot several time over
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo

 Lawsky is the supervisor of all Insurance companies in New York, all New York State-chartered depository institutions and the majority of United States-based branches and agencies of foreign banking institutions. He also regulates all of New York State’s mortgage brokers, mortgage bankers, check cashers, money transmitters, budget planners, and similar providers of financial services.

Lawsky led Governor Andrew Cuomo’s initiative to make the Department of Financial Services, which includes the former New York State Banking and Insurance Departments, into a modern unified financial regulator.

 Lawsky’s objectives for the new Department of Financial Services include three main goals—keeping New York on the cutting edge as the financial capital of the world, protecting consumers better than ever before, and serving as a model of efficient government.

Lawsky was Governor Andrew Cuomo's Chief of Staff. Previously, he served as the Deputy Counselor and Special Assistant to then-Attorney General Cuomo. Prior to that, Mr. Lawsky had spent over five years as an Assistant United States Attorney in the Southern District of New York, where he prosecuted white collar crime, organized crime, and terrorism cases.


Wow, this guy sounds like a real shining white knight ... I wonder where he was when AIG (insurance) was running it's goldman sachs multi-billion dollar pass through scam ... and MBIA (insurance) was blowing up the CDO market to tune of $50+ BILLION??

These SEC guys can't get off their porn sites to catch the real criminals ... but wait someone wants to compete with the federal reserve e-debt notes .... " ... we right on it massa ..."
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