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Old 12-09-2013, 10:38 AM
 
38,494 posts, read 19,609,946 times
Reputation: 12339

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Quote:
Originally Posted by J746NEW View Post
H.R.992 - Swaps Regulatory Improvement Act

H.R.992 - 113th Congress (2013-2014): Swaps Regulatory Improvement Act | Congress.gov | Library of Congress

So...We finally find a bill that passes easily with bi-partisan support through Congress.

Unfortunately it re-authorizes the Fed to bailout banks that gamble on swaps and derivatives...

And it was literally written by Citigroup..

It puts the tax payer back on the hook for the Bank's failed Derivative Gambles in the Stock Market.

Something Really Insane Just Happened In Congress, And You Probably Haven't Heard A Word About It, page 1
Bank bailouts, Obamacare also having a "safety net" for insurance companies written into the law and people think this administration isn't for the people?
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Old 12-09-2013, 10:41 AM
 
Location: Aiken, South Carolina, US of A
1,752 posts, read 3,705,789 times
Reputation: 3522
Merry Christmas to the Big Banks!
Got it real good, don't they?
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Old 12-09-2013, 11:16 AM
 
14,298 posts, read 7,917,795 times
Reputation: 4247
Quote:
Originally Posted by J746NEW View Post
H.R.992 - Swaps Regulatory Improvement Act

H.R.992 - 113th Congress (2013-2014): Swaps Regulatory Improvement Act | Congress.gov | Library of Congress


So...We finally find a bill that passes easily with bi-partisan support through Congress.

Unfortunately it re-authorizes the Fed to bailout banks that gamble on swaps and derivatives...

And it was literally written by Citigroup..

It puts the tax payer back on the hook for the Bank's failed Derivative Gambles in the Stock Market.

Something Really Insane Just Happened In Congress, And You Probably Haven't Heard A Word About It, page 1

We need to repeal the Dodd-Frankk bill, and Gramm–Leach–Bliley Act, and then reinstate Glass-Steagall Act, so companies like CitiGroup could not even exist.
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Old 12-09-2013, 11:18 AM
 
14,298 posts, read 7,917,795 times
Reputation: 4247
Quote:
Originally Posted by Butterfly4u View Post
Merry Christmas to the Big Banks!
Got it real good, don't they?
And you thought QE1-QE3 were enough...pffffft
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Old 12-09-2013, 11:23 AM
 
38,494 posts, read 19,609,946 times
Reputation: 12339
Quote:
Originally Posted by HeyJude514 View Post
I think we've found an issue where both the left and the right agree.
The difference is democrats always vote to allow government to siphon more money from the people via higher taxes. They actually think that money will get to them when in fact it goes to cronies. They use the poor to pitch the sale.... "what about the kids?" "what about the poor?".. Nice going dems
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Old 12-09-2013, 11:35 AM
 
8,487 posts, read 5,787,723 times
Reputation: 1113
Quote:
Originally Posted by OICU812 View Post

We need to repeal the Dodd-Frankk bill, and Gramm–Leach–Bliley Act, and then reinstate Glass-Steagall Act, so companies like CitiGroup could not even exist.
I don't know that they wouldn't exist, however, don't forget this.
Commodity Futures Modernization Act
This has made the govt et al a great deal. They are desperately trying to keep the music playing.
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Old 12-09-2013, 11:42 AM
 
Location: South Bay
1,404 posts, read 848,348 times
Reputation: 525
Quote:
Originally Posted by J746NEW View Post
H.R.992 - Swaps Regulatory Improvement Act

H.R.992 - 113th Congress (2013-2014): Swaps Regulatory Improvement Act | Congress.gov | Library of Congress
So...We finally find a bill that passes easily with bi-partisan support through Congress.

Unfortunately it re-authorizes the Fed to bailout banks that gamble on swaps and derivatives...

And it was literally written by Citigroup..

It puts the tax payer back on the hook for the Bank's failed Derivative Gambles in the Stock Market.

Something Really Insane Just Happened In Congress, And You Probably Haven't Heard A Word About It, page 1
Both parties are just left and right arms of the same party. They agree completely when it comes to protecting their real constituency.

Quote:
Originally Posted by OICU812 View Post

We need to repeal the Dodd-Frankk bill, and Gramm–Leach–Bliley Act, and then reinstate Glass-Steagall Act, so companies like CitiGroup could not even exist.
I agree completely. Voters don't seem to notice how the last two decades of political energy has been spent repealing good laws. If Glass Steagall had remained in place, the crash and toxic assets would have never happened. You can thank the Goldman Sacks cronies who were placed into positions of power for this. Why do Presidents fill their circle of influence with bankers? Its fairly obvious who really runs the country.
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Old 12-09-2013, 12:01 PM
 
Location: Barrington
43,693 posts, read 32,787,688 times
Reputation: 14602
Quote:
Originally Posted by 2e1m5a View Post
Yeah, anything easily and quietly passed with bi-partisan support by these scum in Congress needs to be examined and scrutinized sadly.
Bi partisan?

Rep Randy Hulgren ( R) was the initial sponsor. It passed the house 292 vs. 122. Most of the ayes were Republican votes. Most of the nays were Democrat.

It's got less than a 25% chance of passing the Senate.
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Old 12-09-2013, 12:11 PM
 
Location: Barrington
43,693 posts, read 32,787,688 times
Reputation: 14602
Quote:
Originally Posted by petch751 View Post
The difference is democrats always vote to allow government to siphon more money from the people via higher taxes. They actually think that money will get to them when in fact it goes to cronies. They use the poor to pitch the sale.... "what about the kids?" "what about the poor?".. Nice going dems
In the case, it was a Republican initiative and house majority, including the entire Tea party caucus.
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Old 12-09-2013, 12:16 PM
 
Location: Philadelphia
11,838 posts, read 10,076,784 times
Reputation: 8011
Quote:
Originally Posted by middle-aged mom View Post
Bi partisan?

Rep Randy Hulgren ( R) was the initial sponsor. It passed the house 292 vs. 122. Most of the ayes were Republican votes. Most of the nays were Democrat.

It's got less than a 25% chance of passing the Senate.
Interesting-thanks for pointing that out.
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