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Ask yourself..why did Gramm sponsor that ? Who was behind Gramm ?
"They" were the ones that got it passed.."they" wanted it all along and had been pushing it for years. It wasn't until "they" got Gramm to do their dirty work.
BTW..Gramm went to UBS right after he left government. He got bought out by the banks and did their dirty work. In return he got a cushy job with them.
Gramm is also responsible for making sure derivatives weren't regulated.
That would be a double whopper for him..wouldn't it ?
I wonder if Gramm's still a hot commodity in the financial world after the idiocy he spewed in July of 2008.
According to that moron, millionaires complaining about paying taxes is justified, but workers complaining about being jobless is "whining."
whose in charge now? where is the fixing of the problem?
Stay tuned, please. The righties gave Bush 7+ years in Afghanistan w/o a peep. Give Obama a couple of years to get the investment bankers back under control.
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the situation is getting worse, not better.
Please be more specific. How is it getting worse? I'm under the impression that regulations will be reimposed.
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the foxes are still in the henhouse. i think it is amazing that mainstream media is not even covering this and that an in-depth analysis of the problem has to be done by rolling stone magazine. kudos to matt taibbi for all of his excellent journalism.
We're in agreement on this point. What's troubling is how the GOP bristles and snarls at any mention or stiffening regulations on the financial criminals who wrecked the economy. These clowns are obviously in the pockets of the Wall St crooks.
Stay tuned, please. The righties gave Bush 7+ years in Afghanistan w/o a peep. Give Obama a couple of years to get the investment bankers back under control.
Please be more specific. How is it getting worse? I'm under the impression that regulations will be reimposed.
We're in agreement on this point. What's troubling is how the GOP bristles and snarls at any mention or stiffening regulations on the financial criminals who wrecked the economy. These clowns are obviously in the pockets of the Wall St crooks.
2 years and Glass-Steagall is still modified. The banks are bigger now than they were before the crash. They are back to their speculation in derivatives.
The proposal is to give the Fed more power..no mention of reinstating Glass-Steagall.
2 years and nothing has changed..not under the end of Bush and not under Obama.
2 years and Glass-Steagall is still modified. The banks are bigger now than they were before the crash. They are back to their speculation in derivatives.
The proposal is to give the Fed more power..no mention of reinstating Glass-Steagall.
2 years and nothing has changed..not under the end of Bush and not under Obama.
First, 15 months is not two years...
Obama just completed his biggest fight - healthcare. Quite an all-consuming fight for a protracted period of time. I'm sure that financial regulations are on the agenda, but they still aren't the top priority yet. I expect a focus on employment to take center stage next. Like I say, stay tuned. I feel confident this will be addressed. But I don't have a crystal ball to predict when.
Bush didn't screw up everything all together at the same time. I took him years of collosal mismanagement to get us in this deep. No one, not even the great all-powerful Obama, will be able to get it all sorted out in one big step, either.
Obama just completed his biggest fight - healthcare. Quite an all-consuming fight for a protracted period of time. I'm sure that financial regulations are on the agenda, but they still aren't the top priority yet. I expect a focus on employment to take center stage next. Like I say, stay tuned. I feel confident this will be addressed. But I don't have a crystal ball to predict when.
Bush didn't screw up everything all together at the same time. I took him years of collosal mismanagement to get us in this deep. No one, not even the great all-powerful Obama, will be able to get it all sorted out in one big step, either.
Neither Obama nor Bush can do it..only Congress can and they haven't budged on it. That's why I said 2 years...Congress writes and passes bills.
Presidents only sign them into law.
Could have easily been done the day after TARP got signed. Even before during the time Paulsen was giving his warnings.
Neither Obama nor Bush can do it..only Congress can and they haven't budged on it. That's why I said 2 years...Congress writes and passes bills.
Presidents only sign them into law.
Could have easily been done the day after TARP got signed. Even before during the time Paulsen was giving his warnings.
Easily?
I doubt that in the current climate much of anything is going to move through congress quickly or easily. And the GOP is going to REALLY dig in their heels to block reregulation. Watch and see. I expect it to be a fight.
And a PERSON in a minority seat on a committee can't make policy.
The cost of buying everyone elected to fill government office at the federal level. Is $1 billion a year. Chump change for JP Morgan. And that is just one company. We need to buy our own politicians. Take the center. And treat everyone fairly including the thieving bas-tard corporations. (they will be in the dog house for a bit but let out eventualy and rehbilitated.) ALso they will be broken up or allowed to go broke from their own greed.
I doubt that in the current climate much of anything is going to move through congress quickly or easily. And the GOP is going to REALLY dig in their heels to block reregulation. Watch and see. I expect it to be a fight.
They were shaken in their seats with whatever Paulsen/Bernake told them behind closed doors...don't you recall how quick that got passed after that closed door chat ?
Don't be so sure it's just the GOP that is not on board with regulating the banks. The Dems are just as much in the bankster pockets as the minority GOP is.
They were shaken in their seats with whatever Paulsen/Bernake told them behind closed doors...don't you recall how quick that got passed after that closed door chat ?
Don't be so sure it's just the GOP that is not on board with regulating the banks. The Dems are just as much in the bankster pockets as the minority GOP is.
I'm sure there are Dems on the Wall St payroll, too. They'll be obvious when the issue comes up. But the GOP will vote in a solid bloc against any reforms.
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Chump change for JP Morgan. And that is just one company. We need to buy our own politicians. Take the center. And treat everyone fairly including the thieving bas-tard corporations. (they will be in the dog house for a bit but let out eventualy and rehbilitated.) ALso they will be broken up or allowed to go broke from their own greed.
