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H.R.1489 via GovTrack
To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes.
The legislation will never see the light of day due to the fact that the banksters firmly have both parties in their pockets. Our so called leaders would not dare upset the apple cart and the banksters are playing a important role. Who would we get to buy our treasuries and then turn around and sell them to the FR a few days later? How would we support our military industrial complex if it was not for the banksters{primary dealers} buying our bonds and collecting 400 billion in interest? How would we support our social programs?
Both parties love the FR and the banksters and lets not forget all the campaign money that ends up in their coffers. With the {R}s in control of the House the bill won't make it out of the committee and they are already are talking about doing away with some of the limp wristed {D} reforms that was passed last year.
It will die or get so watered down that it won't mean a thing.
Just look at what happened to Ron Paul's "Audit the Fed" bill.
The banksters are too powerful a group now to be controlled or have their control reigned in.
TARP is another example...rammed through Congress and signed by the President. Led by the Treasury and the Fed. No one in DC has the guts to stand up to them..no one except Ron Paul.
It will die or get so watered down that it won't mean a thing.
Just look at what happened to Ron Paul's "Audit the Fed" bill.
The banksters are too powerful a group now to be controlled or have their control reigned in.
TARP is another example...rammed through Congress and signed by the President. Led by the Treasury and the Fed. No one in DC has the guts to stand up to them..no one except Ron Paul.
I was wondering Tex have you seen this story from Rolling Stone :
Quote:
Christy is the wife of John Mack, the chairman of Morgan Stanley. Susan is the widow of Peter Karches, a close friend of the Macks who served as president of Morgan Stanley's investment-banking division. Neither woman appears to have any serious history in business, apart from a few philanthropic experiences. Yet the Federal Reserve handed them both low-interest loans of nearly a quarter of a billion dollars through a complicated bailout program that virtually guaranteed them millions in risk-free income.
Quote:
Christy and her pal Susan launched their investment initiative called Waterfall TALF. Neither seems to have any experience whatsoever in finance, beyond Susan's penchant for dabbling in thoroughbred racehorses. But with an upfront investment of $15 million, they quickly received $220 million in cash from the Fed, most of which they used to purchase student loans and commercial mortgages. The loans were set up so that Christy and Susan would keep 100 percent of any gains on the deals, while the Fed and the Treasury (read: the taxpayer) would eat 90 percent of the losses.
Good old Uncle Ben was taking real good care of his friends and these housewives of Wall street make the housewives in Orange Country look pathetic. I am sure you aware that Barnanke was flinging money in all directions:
Quote:
The Fed sent billions in bailout aid to banks in places like Mexico, Bahrain and Bavaria, billions more to a spate of Japanese car companies, more than $2 trillion in loans each to Citigroup and Morgan Stanley, and billions more to a string of lesser millionaires and billionaires with Cayman Islands addresses. "Our jaws are literally dropping as we're reading this," says Warren Gunnels, an aide to Sen. Bernie Sanders of Vermont. "Every one of these transactions is outrageous."
The Real Housewives of Wall Street | Rolling Stone Politics
Well at least some others are out raged even though we would not agree with Sanders on most issues. Below is a take on Mitt Romney and his thoughts on the FR and the banksters. You will notice instead that Romney makes kissy faces : News Headlines
KUDLOW: All right. Very good response, OK, very clever, and I can't say I didn't see that coming. But I want to go then, what kind of job is Ben Bernanke doing right now, the guy that's depreciating the dollar, we're seeing this huge inflation of energy prices, including gasoline prices at the pump. What do you think of Ben Bernanke?
Mr. ROMNEY: Well, you know, I think Ben Bernanke is a student of monetary policy. He's doing as good a job as he thinks he can do in the--in the Federal Reserve. But, look, I'm not going to spend my time going after Ben Bernanke. I'm not going to take my effort and focus on the Federal Reserve. I'm going to focus my effort on the administration.
{The banksters gave Romney a standing ovation and Kudlow told them to cool it} I made that part up but you get the picture. It will be interesting to see who gets the banksters campaign loot but I would bet that Romney could take away big time from Obama.
It will die or get so watered down that it won't mean a thing.
Just look at what happened to Ron Paul's "Audit the Fed" bill.
The banksters are too powerful a group now to be controlled or have their control reigned in.
TARP is another example...rammed through Congress and signed by the President. Led by the Treasury and the Fed. No one in DC has the guts to stand up to them..no one except Ron Paul.
Ron Paul is the only one telling the truth . Too bad he is outnumbered by liars and crooks in congress.
Independents that are outraged by bailouts have no candidiate they can trust in 2012.
I was wondering Tex have you seen this story from Rolling Stone :
The Rolling Stone (Matt Taibbi) has been exposing the thieves at the top for a number of years..going back to the Bear/Lehman days and how GS and JPM made out like bandits.
I have read Taibbi's articles for quite some time now.
H.R.1489 via GovTrack
To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes.
Sponsored by two Democrats, one Republican.
you do realize that BILL CLINTON deregulated it dont you? Actually right before he left office and this put the housing/banking problem in motion.
H.R.1489 via GovTrack
To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes.
Sponsored by two Democrats, one Republican.
what good will it do...it was the repealing of glass-stegal (the grammleachy) that made banks and corps too big to fail...it was liberal globalist policies like nafta.
they 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 many happend after gs.. but the 'too big to fail' happend before Gs
you do realize that BILL CLINTON deregulated it dont you? Actually right before he left office and this put the housing/banking problem in motion.
the housing boom/bust was from clinton in 1995 when he has his Chief of HUD , Henry Cisneros change the rules for which mortgages are done...that change though fannie.freddie caused to easy of mortgages and the exotic mortgages to come about
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