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From the convention--CNBC: _"GOP platform pushes for big-bank breakup, return of Glass-Steagall"_
CNBC:
"The Republican Party is going after the big banks.
"As the GOP convention gets under way in Cleveland, a top adviser to presumptive nominee Donald Trump said the party wants to revive the Glass-Steagall Act, Depression-era legislation that helped prevent big bank "supermarkets" but which was repealed in 1999.
"Critics of the banking industry believe the repeal created too-big-to-fail institutions that required a massive government bailout when the financial crisis exploded in 2008. The repeal often is cited as a cause of the crisis, even though two of the investment banks at the core of the crisis, Lehman Brothers and Bear Stearns, were unaffected by the act's prohibition of combining investment and commercial banks.
"'We believe the Obama-Clinton years have passed legislation that has been favorable to the big banks, which is why you see all the Wall Street money going to her,' Trump campaign manger Paul Manafort told reporters, according to an account in The Hill. 'We are supporting the small banks and Main Street.'"
Anything that is pro-worker/progressive is good news. Perhaps there can be bipartisanship on breaking up the big banks that ripped off the people so it will never happen again and the Dems and Republicans who vote no will be exposed as the tools they are.
Certainly interesting. Hard to know what to think Bernie Sanders is having a good effect on both of the platforms it seems.
"The Republican Party is going after the big banks.
"As the GOP convention gets under way in Cleveland, a top adviser to presumptive nominee Donald Trump said the party wants to revive the Glass-Steagall Act, Depression-era legislation that helped prevent big bank "supermarkets" but which was repealed in 1999.
"Critics of the banking industry believe the repeal created too-big-to-fail institutions that required a massive government bailout when the financial crisis exploded in 2008. The repeal often is cited as a cause of the crisis, even though two of the investment banks at the core of the crisis, Lehman Brothers and Bear Stearns, were unaffected by the act's prohibition of combining investment and commercial banks.
"'We believe the Obama-Clinton years have passed legislation that has been favorable to the big banks, which is why you see all the Wall Street money going to her,' Trump campaign manger Paul Manafort told reporters, according to an account in The Hill. 'We are supporting the small banks and Main Street.'"
Anything that is pro-worker/progressive is good news. Perhaps there can be bipartisanship on breaking up the big banks that ripped off the people so it will never happen again and the Dems and Republicans who vote no will be exposed as the tools they are.
Certainly interesting. Hard to know what to think Bernie Sanders is having a good effect on both of the platforms it seems.
No, sorry, PCALMike, Bernie has endorsed Wall Street's Hillary Clinton. Progressives wrote the legislation abolishing Glass-Steagall and their neocon (aka progressive Republican, aka Rockefeller Republican) Bush family minion confederate signed it.
The left's neocon (aka progressive republican, aka Rockefeller Republican) Bush signed the Democrat's legislation abolishing it.
Real conservatives want to bring it back. The leftist Bushes are so petulant, that they're sitting out the convention.
Sounds like the GOP is stealing the lefts talking points
It was abolished by GOP congress, and signed by Bill Clinton, not Bush, but of course Bush would have been more than happy to sign too in the spirit of deregulation.
Bernie endorses Wall Street's Clintons. That's been all over the news.
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From the convention--CNBC: _"GOP platform pushes for big-bank breakup, return of Glass-Steagall"_
