Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes I am implying that the {R}s are not going to let GS be repealed. Did you not read " follow the money" I did a whole spiel awhile back about where ever the Wall street money goes that party gains control. We are talking about Wall st. here do you think they are going to bet on the losers to do their bidding?
I am not a partisan and only listen to that worthless gas bag Limbaugh when I am driving for entertainment purposes only. I do not give a dam about either of the pathetic parties. Once again, do you have a reading comprehension problem? I wrote that I was on board with Dodd/Frank at first until it was watered down. Which party was in control? the {D}s and they were steering the legislation and had the majority.
How did you interpret that to mean I like be around ditto heads or like minded people?
Did Obama push hard for the repeal of GS? no. Did Obama fill his cabinet with banksters, yes. Just like Bush before him and the one that will follow after. Like I said the banksters know who their beeches are and they come bent over in a bi partisan fashion.
Yes, he did. And while asking for this question, and repeatedly I might add, be sure to learn about what "check and balance means". It means you do your job and hope others do their part. So, when you accuse Obama of not doing something, you might as well accuse the supreme court? BTW, I assume you meant "reinstatement" of G-S not "repeal".
What exactly do you propose Obama should do, to by-pass the whims of the Congress and for conservatives to be singing his praise on this subject?
Yes, he did. And while asking for this question, and repeatedly I might add, be sure to learn about what "check and balance means". It means you do your job and hope others do their part. So, when you accuse Obama of not doing something, you might as well accuse the supreme court? BTW, I assume you meant "reinstatement" of G-S not "repeal".
What exactly do you propose Obama should do, to by-pass the whims of the Congress and for conservatives to be singing his praise on this subject?
Yes, I am aware of check and balances and a bill would have had to be written for his signature. There was not a huge push by either party to re instate{ I got it right this time} GS. Lets just say a POTUS felt so strongly about GS that he made it public that a bill with out reinstating GS would with out any doubt will be facing his veto pen. I guess he did not feel to strongly about since that did not occur, right?
Yes, I am aware of check and balances and a bill would have had to be written for his signature. There was not a huge push by either party to re instate{ I got it right this time} GS. Lets just say a POTUS felt so strongly about GS that he made it public that a bill with out reinstating GS would with out any doubt will be facing his veto pen. I guess he did not feel to strongly about since that did not occur, right?
What does it take to reinstate a bill? Another bill? Or, do we dig through old records and sign off on them?
The right wingers have portrayed Obama as someone who is into regulations, and is "killing" poor banks... and now he is being targeted for deregulation and for "helping" crooked banks? To the right wingers, I say, make up your collective mind first, with the same fervor that you walk in lockstep on EVERY issue that includes the name "Obama" (and those where it doesn't).
Could you list responsibilities of the President of USA with regard to such laws, compared to that of Congress? And the powers that the President can (and should) use to get his ideas pushed through regardless of what the congress does?
EinsteinsGhost]What does it take to reinstate a bill? Another bill? Or, do we dig through old records and sign off on them?
Could you list responsibilities of the President of USA with regard to such laws, compared to that of Congress? And the powers that the President can (and should) use to get his ideas pushed through regardless of what the congress does?[/quote]
To my limited knowledge not being a constitutional scholar or having a college education I would say it would take a bill passed by congress. I would also say that I do not see how it could be done by EO.
But regardless, we can go back and forth on this issue and in the end we could make a toast " Glass Steagal is dead never to live again" It does not matter if either party had all 3 branches it will never ever be reinstated.
G-S has already been repealed, and it was the (R)'s leading the charge.
Bill clinton signed this deregulation as he was leaving office.
When the Senate voted to pass Gramm-Leach-Bliley by a vote of 90-8, it reversed what was, for more than six decades, a framework that had governed the functions and reach of the nation's largest banks.
No longer limited by laws and regulations commercial and investment banks could now merge. Many had already begun the process, including, among others, J.P. Morgan and Citicorp.
The new law allowed it to be permanent. The updated ground rules were low on oversight and heavy on risky ventures.
Historically in the business of mortgages and credit cards, banks now would sell insurance and stock.
Clinton vowed to veto the Senate version of the bill unless it was re-written to include "requirements that banks make loans to minorities, farmers, and others who have had little access to credit."
The new version passed 90-8 in the Senate, passed the House, and Clinton signed it into law.
Clinton's required reworking of the bill should be studied closely to see what role, if any, it played in illegal, often racist, subprime loans at higher rates than Caucasian borrowers were offered.
I would love to see the Glass Segall re-instated and also something along those lines to address the derivatives market that wasn't in existance in 1933when GS was enacted.
For those who are intersted there is a really good documentary done by Frontline called "The Warning" about how Brooksley Born, the head of the Commodity Futures Trading Commission was submarined by Alan Greenspan and his thugs when she tried to get congress to regulate the derivatives market, you can watch it online here: Watch The Full Program Online | The Warning | FRONTLINE | PBS
The repeal of GS and the lack of regulations of the derivatives market is for the most part what created the mess we are in.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
