Capitol Hill Blue Forums Hot Topics & Breaking News News Trump's Trumpet

NWP said:
Trump, and his support, demonstrate how deep the damage of the wrong kind of capitalism has already wrought on the nation. Capitalism is like a high powered engine, it can do remarkable thing when properly constrained, but is deadly in the wrong hands. Lauding miscreants like Trump does damage to the psyche.

I liked what ex Senator Clinton said during the debate. She said something like ... the government has to step in every so often and save capitalism from itself.

Apparently, when left to its own devices too long, the robber barons tend to float to the top again, to renew their reign pillaging and raping.

It didn't help when her husband(with Hillary's support) repealed Glass-Steagle. I much prefer Bernie Sanders' and Elizabeth Warren's approach to our banking/financial system.

Bullseye!

And I still don't think that she supports a reinstatement of GS!

I think it is important to understand what Glass-Steagall really is, and what it is not. The concept behind it - separating commercial bank activities from investor bank activities - is sound, but not a panacea. As one commentator put it, the crash was like the Titanic sinking, and Glass-Steagall was really about how many lifeboats were aboard. (Repeal of Glass-Steagall: Not a cause, but a multiplier - WaPo.) I completely agree, and Dodd-Frank has really done a sound, if incomplete, job of restoring some of the stability that Glass-Steagall provided. More needs to be done.

The Titanic still would have sunk, and doubling the number of lifeboats is good - but it still means a third of the passengers still drown. Glass-Steagall would mean the boat was smaller with fewer passengers, but would not have prevented it from sinking. Dodd-Frank comes closer to keeping it afloat.

financial reform is an all-hands-on-deck affair. We need to bring the entire financial system — banks, nonbanks, shadow banks, all of them — under consistent regulatory scrutiny. We need to enforce transparency, ensure there are financial buffers, provide a way to unwind collapsing institutions safely, and protect everyday consumers from predation. The 2010 Dodd-Frank law, to its credit, got the ball rolling on all of this, though it doesn't go far enough in winding down the size of the biggest and most systemically dangerous companies. At the end of the day, the smaller the company is, the less of a threat its collapse would pose.

Clinton's proposals not only double down on Dodd-Frank's strengths, they also address its weaknesses: strengthening capital requirements for financial institutions, and imposing an escalating system of fees on players that pass a certain size.