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One way that will really put the hurt on the bankers, and those who are bankrolled by them, is to reenact the Glass-Steagall Act in it's 1933 form.The Republicans should double back on their efforts to repeal Glass-Steagall in 1999 and sink Obama in 2012 for it. He'll have no choice but to sign the bill, and really strong ammo for whomever is the GOP nominee for 2012. If the GOP wants to survive in the future, they need to stick the hurt into the bankers. They are scared to though, because they are trying to balance a political future with plenty of funding, or gambling losing their funding in return for increased voter satisfaction. Oh and, a career following their stint in Congress (thanks revolving door)
One way that will really put the hurt on the bankers, and those who are bankrolled by them, is to reenact the Glass-Steagall Act in it's 1933 form.The Republicans should double back on their efforts to repeal Glass-Steagall in 1999 and sink Obama in 2012 for it. He'll have no choice but to sign the bill, and really strong ammo for whomever is the GOP nominee for 2012. If the GOP wants to survive in the future, they need to stick the hurt into the bankers. They are scared to though, because they are trying to balance a political future with plenty of funding, or gambling losing their funding in return for increased voter satisfaction. Oh and, a career following their stint in Congress (thanks revolving door)
Sorry but GOP congressonal leaders pushed for the repeal of Glass-Steagall that Bill Clinton signed into law.
The story here is the largest banks and investment firms in this country are so powerful they control BOTH POLITICAL PARTIES WITH REGARDS TO FINANCIAL REGULATION.
I'm all for the reinstatement of Glass-Steagall. It would do a lot for this country. The lack of it or something with the same effect says a lot about where this country is headed. The sacking of this country is being carried out by our elected officials.
The story here is the largest banks and investment firms in this country are so powerful they control BOTH POLITICAL PARTIES WITH REGARDS TO FINANCIAL REGULATION.
JTG already posted what I was going to say. I wish it could, but Glass Steagall is not coming back.
JTG already posted what I was going to say. I wish it could, but Glass Steagall is not coming back.
Quote:
Originally Posted by JazzyTallGuy
Sorry but GOP congressonal leaders pushed for the repeal of Glass-Steagall that Bill Clinton signed into law.
The story here is the largest banks and investment firms in this country are so powerful they control BOTH POLITICAL PARTIES WITH REGARDS TO FINANCIAL REGULATION.
Unfortunately both of you are right. Without Glass-Steagall, this country is doomed to drown in the derivatives scam the banks have been engaged in since 1999. This is why the U.S. has a debt crisis and why the derivatives bubble is the mother of all bubbles just waiting to pop
Sorry but GOP congressonal leaders pushed for the repeal of Glass-Steagall that Bill Clinton signed into law.
The story here is the largest banks and investment firms in this country are so powerful they control BOTH POLITICAL PARTIES WITH REGARDS TO FINANCIAL REGULATION.
Repealing that was the last nail in the coffin. Banks have run wild since and we are where we are.
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