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Old 05-11-2012, 08:25 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,217 posts, read 13,973,317 times
Reputation: 6463

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what good will it do, to bring back GS????...it wasnt the repealing of glass-stegal (the grammleachy) that made banks and corps too big to fail...it was liberal globalist policies like nafta.

they(banks) became 'too big to fail' before the repealing of G-S

1987 chemical bank merged into jp morgan
1992 manufactorers hanover and trust into jp morgan
1996 chase manhattin into jp morgan
1993 Banc one into JPmorgan
1995 first chicago into jpmorgan
1995 NDBancorp into jpmorgan

1988 fleet into norstar... into bank of america
1990 bank of new england into BOA
1990 Citizens into BOA

1998 travelrs into citi

1987 first fidelity into wells fargo
1996 Meridian Bancorp into wells fargo
1997 signet into first union into wells fargo
1988 barclays into wells fargo


yes some happend after gs.. but the 'too big to fail' happend before Gs
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Old 05-11-2012, 08:27 AM
 
814 posts, read 507,983 times
Reputation: 230
Quote:
Originally Posted by Ferd View Post
i am sooooooo with you.

republicans got rid of it (with help from Clinton) and when democrats had a chance to bring it back, they instead came up with a really dumb massive bill that doesnt work.
This is 100 per cent correct. This issue above all others should tell us all that our politicians on both sides care nothing for the people only their power. As bush once said if they are not for us they are against us

Listen please to this concept and listen well and sound the drumbeat to everyone you know this simple concept. The 5 Cs of credit worked perfectly for 70 yrs and with that simple concept the country prospered.
We do not need DoddFrank. This law of crooks by crooks and for crooks is destroying this country from within. With administration of the 5 Cs of credit a simple concept with local control was enforced that set crucial and essential parameters. There were few failures under administration of that simple concept

If politicians are not vocally standing against this outrageous banking law that is corrupting and destroying this country they are for the destruction of this country. They are either too corrupt or too stupid to recognize the difference and they should be terminated.
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Old 05-11-2012, 08:38 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
Reputation: 2951
Quote:
Originally Posted by Hot_Handz View Post
Reinstating the Glass-Steagall act is in direct violation of the WTO. It would have to conform to the WTO. Pretty much making it NOT the Glass-Steagall act..

http://www.citizen.org/documents/Fin...SheetFINAL.pdf

Stiglitz. How funny. Talk about cherry picking...
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Old 05-11-2012, 08:38 AM
 
Location: Great State of Texas
86,093 posts, read 72,297,737 times
Reputation: 27564
In 2009 a Dem/Repub brought forward a bill to reinstate Glass-Steagall.
So there was an attempt but the majority in office just didn't want that happening.

McCain, Cantwell Battle The Monolith To Reinstate Glass-Steagall
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Old 05-11-2012, 08:42 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
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Quote:
Originally Posted by lifelongMOgal View Post
Maybe it already has with the JP Morgan loss. JP Morgan has been deeply involved in this going back to at least TARP.

I recall the Jon Corzine MF Global case of the disappearing money from clients segregated funds also involved a transfer of funds from MF Global to JP Morgan. JP Morgan, with its huge investment in BP oil was in Libya (represented by former British PM Majors) immediately prior to Gaddafi's capture.

That would be great news if it were true. However, I think MFG was just the toe of the shoe that was already dropped. JPM could be the the other shoe, but w/ my historical knowledge of them, it's just the opening act or cover sheet of their losses.

If they say the lost $2Bln, w/ a net $1Bln loss, I would guestimate it's really $4-5Bln w/ a net $2Bln loss.
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Old 05-11-2012, 08:45 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
Reputation: 2951
Quote:
Originally Posted by HappyTexan View Post
Yes it does. Go off an read about what is prohibited by the WTO.
Have. market 'ACCESS' vs. 'RISK' exposure. Go off and read what IS and ISN'T prohibited. And not by a 3rd party existentialist who is extreme in anti-globalization.
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Old 05-11-2012, 08:46 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
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Quote:
Originally Posted by Hot_Handz View Post
Only in markets allowed by.....drum roll......THE WTO FSA

So, the USA is "allowed" by the WTO?
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Old 05-11-2012, 08:47 AM
 
8,101 posts, read 4,984,600 times
Reputation: 1578
Quote:
Originally Posted by txgolfer130 View Post
So, the USA is "allowed" by the WTO?
Well.......yea? In theory, yea lol
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Old 05-11-2012, 08:47 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
Reputation: 2951
Quote:
Originally Posted by workingclasshero View Post
what good will it do, to bring back GS????...it wasnt the repealing of glass-stegal (the grammleachy) that made banks and corps too big to fail...it was liberal globalist policies like nafta.

they(banks) became 'too big to fail' before the repealing of G-S

1987 chemical bank merged into jp morgan
1992 manufactorers hanover and trust into jp morgan
1996 chase manhattin into jp morgan
1993 Banc one into JPmorgan
1995 first chicago into jpmorgan
1995 NDBancorp into jpmorgan

1988 fleet into norstar... into bank of america
1990 bank of new england into BOA
1990 Citizens into BOA

1998 travelrs into citi

1987 first fidelity into wells fargo
1996 Meridian Bancorp into wells fargo
1997 signet into first union into wells fargo
1988 barclays into wells fargo


yes some happend after gs.. but the 'too big to fail' happend before Gs

Agree to a point. GS allowed them to exist within NARROW constraints. Those constraints would have limited exposure and scope.
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Old 05-11-2012, 08:49 AM
 
Location: Texas
5,856 posts, read 6,893,651 times
Reputation: 2951
Quote:
Originally Posted by Hot_Handz View Post
Well.......yea? In theory, yea lol

LOL Well....EVERYTHING is possible in theory. ^^ Best line of the day so far.
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