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"Either President Obama is a cronie of Wall St., or he's trying to destroy Wall St., and American free-enterprise. Which is wingers? Which is it?"
The world is not black and white. Obama has played both sides of most issues in the best manner, not of a centrist, but of a sinister manipulator who will use everyone to further his idological gains.
Obama's position reversals without thought of expalnation are legendary. Thow in the absence of scrutiny by the media and you have to wonder if the big business, bankers and wall st and Obama are making alliances for their own benefit.
Let's not forget the Dodd bill where at the midnight hour the Obama treasury dept added specs to ensure the AIG execs got their bonuses almost as if they provided a target for Obama to rally the masses to attack the financial industry.
If Obama took a position it would be news.
His treasury dept is full of goldman alum.
Goldman overwhelmingly supported obama last election cycle.
Obama misuses taxpayer money to the extent that it might be considered money laundering.
GS reinstatement will probably be delayed to buy time for cronies to better position their investments. Years of wrangling to modify GS to make it better will be the equivalnet effort of simplifying the tax code that has grown exponentially despite each adminstrations efforts to make it 'simple'.
I know the sources are "questionable" and I haven't had time to fully read into the background on this bill and the changes it calls for in associated legislation. However, if Glass-Steagall had never been overturned then this whole derivatives debacle and the paper debt generated by the banks selling derivatives to one another, would not have been able to occur would it?
Wouldn't this bill, or one similar, be the first steps toward more responsible banking practices and be a sign of good faith that the government is not just writing legislation to allow the big banks to rob us all blind as happened with MF Global/the CME most recently?
Isn't this something #occupywallstreet should be pushing?
President Obama supports the reinstation of Glass Steagall, and has since he was a candidate. His push for Volcker Rule is an evidence of that. However, I'm not sure how much of repeal Volcker Rule would bring, compared to Glass-Steagall. Apparently, there are some differences. Congress is expected to act on it (along with rest of the financial reform) in January 2012. Although, as expected, the congress is being the drama queen, asking for a push back. Of the 121 congressmen, the sad thing is, there are four democrats as well (but then, many democrats did vote for repeal of G-S, and for Gramm-Leach-Bliley). Apparently, they've not been fed enough by the lobbyists to significantly weaken the regulation if not go for the kill. Then... blame Obama for it.
My understanding was that once Congress got their hands on the Volcker Rule, even Volcker decided he didn't support it anymore.
My understanding was that once Congress got their hands on the Volcker Rule, even Volcker decided he didn't support it anymore.
I'm afraid that is exactly what is in store. I can see why Volcker wouldn't want to be any part of a neutered down joke. The congress is hell-bent on destroying this country. But as long as people can blame Obama for it, all is fine. Or as an article put it, Congress has a lower approval rating than herpes.
I don't know if it will fly with the liberals because then it would mean they would have to admit they were wrong. Clinton was wrong and the many times starting in 2001 when attention was being called to this being a problem and them ignoring it. It is election year and I hope this can be put back in place. It never should have been deregulated in the first place.
Just because something happened during Clinton's term doesn't mean it was supported by liberals. The bankers, still high on the anti-regulation sentiment of the Reagan and Bush 1 eras, found an opportunity to make more money and they got their way with the repeal of Glass-Steagall. I don't think most people paid attention to it nor did they understand the consequences. If someone had asked me about this back then I wouldn't have had a response. Now we all--conservatives and liberals alike--realize this was a huge mistake. But I by no means attribute this to liberals mostly because bankers and other assorted Wall Street scum are not liberals. But this mostly liberal guy is all for reinstating Glass-Steagall.
100% that G-S should be re-enacted. But the laughably flip flop of larouche and his cronies is awesome. Either President Obama is a cronie of Wall St., or he's trying to destroy Wall St., and American free-enterprise. Which is wingers? Which is it?
Yeah, this LaRouche guy is a real genius. Here are some gems from his website:
LaRouche: Stop Nuclear Holocaust
Join our international mobilization to stop the British Empire's drive for World War 3!
Nuclear WWIII is NOT Hyperbole
two sided leaflet with an advertisement for the November 19th Basement Webcast: The intention of the British, in launching this war in Asia, is to reduce the world’s population from the order of now, seven billion people, to less than one. That is the purpose behind the British organization of an intended war in Asia. That is the only intention.
"Either President Obama is a cronie of Wall St., or he's trying to destroy Wall St., and American free-enterprise. Which is wingers? Which is it?"
The world is not black and white. Obama has played both sides of most issues in the best manner, not of a centrist, but of a sinister manipulator who will use everyone to further his idological gains.
Obama's position reversals without thought of expalnation are legendary. Thow in the absence of scrutiny by the media and you have to wonder if the big business, bankers and wall st and Obama are making alliances for their own benefit.
Let's not forget the Dodd bill where at the midnight hour the Obama treasury dept added specs to ensure the AIG execs got their bonuses almost as if they provided a target for Obama to rally the masses to attack the financial industry.
If Obama took a position it would be news.
His treasury dept is full of goldman alum.
Goldman overwhelmingly supported obama last election cycle.
Obama misuses taxpayer money to the extent that it might be considered money laundering.
GS reinstatement will probably be delayed to buy time for cronies to better position their investments. Years of wrangling to modify GS to make it better will be the equivalnet effort of simplifying the tax code that has grown exponentially despite each adminstrations efforts to make it 'simple'.
You bring up a couple of solid points that Obama surrounded himself with banksters from the get go. And they heavily donated to his campaign, I do not know if you noticed but there new boy is Mittens.
Obama says a lot of things that his base eats up if he was serious about repealing GS then why did n't he push hard for it when his party had the majority?
I followed the Dodd/Frank bill closely and was on board when the media was first reporting on it. Then of course the lobbyist invaded DC and it was so watered down it was not worth the paper it was written on. It is a funny thing that the other party is trying to weaken it further. Just follow the money.
Just because something happened during Clinton's term doesn't mean it was supported by liberals. The bankers, still high on the anti-regulation sentiment of the Reagan and Bush 1 eras, found an opportunity to make more money and they got their way with the repeal of Glass-Steagall. I don't think most people paid attention to it nor did they understand the consequences. If someone had asked me about this back then I wouldn't have had a response. Now we all--conservatives and liberals alike--realize this was a huge mistake. But I by no means attribute this to liberals mostly because bankers and other assorted Wall Street scum are not liberals. But this mostly liberal guy is all for reinstating Glass-Steagall.
If I am not mistaken the country was all consumed on Clinton getting a BJ and lying. And their was the Starr investigation and impeching procedings etc, etc and mean while GS gets repealed.
You bring up a couple of solid points that Obama surrounded himself with banksters from the get go. And they heavily donated to his campaign, I do not know if you noticed but there new boy is Mittens.
Obama says a lot of things that his base eats up if he was serious about repealing GS then why did n't he push hard for it when his party had the majority?
You mean Obama didn't push through enough bills that conservatives hated while he had a chance? Are you implying now that it is the republicans who are going to prevent reinstatement of G-S to reign in on the banks/financial institutions?
BTW, do you prefer ditto-heads around you, or (at least sometimes) people with opposing you, as you work on contributing ideas? Should politicians ALWAYS look for like-minded folks' approval and ideas when working on creating policies for the nation?
Quote:
I followed the Dodd/Frank bill closely and was on board when the media was first reporting on it. Then of course the lobbyist invaded DC and it was so watered down it was not worth the paper it was written on. It is a funny thing that the other party is trying to weaken it further. Just follow the money.
And I take it that you would like to blame Obama for this as well.
You mean Obama didn't push through enough bills that conservatives hated while he had a chance? Are you implying now that it is the republicans who are going to prevent reinstatement of G-S to reign in on the banks/financial institutions?
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?
Quote:
BTW, do you prefer ditto-heads around you, or (at least sometimes) people with opposing you, as you work on contributing ideas? Should politicians ALWAYS look for like-minded folks' approval and ideas when working on creating policies for the nation?
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?
Quote:
And I take it that you would like to blame Obama for this as well
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.
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