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Dec 6th, 2017
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Joined: Jan 2001
Posts: 27,583
Administrator Bionic Scribe
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Administrator Bionic Scribe
Joined: Jan 2001
Posts: 27,583 |
It didn't help when her husband(with Hillary's support) repealed Glass-Steagle.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! Methinks if she did she would lose a lot of her GS (Wall Street) donor base. Sordid, is it not?  Very sordid. And as she has kept accepting money from Big Banks, she is beholden to them more than ever. Another reason I am supporting Senator Bernie Sanders.
milk and Girl Scout cookies ;-)
Save your breath-You may need it to blow up your date.
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Joined: Jan 2001
Posts: 27,583
Administrator Bionic Scribe
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Administrator Bionic Scribe
Joined: Jan 2001
Posts: 27,583 |
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. It was better than what we had before 1929, and repealing GB allowed the foundation for the crash in 2008. Getting rid of GB took away 70 years protections we had-and needed to be improved upon, not taken away. Dodd-Frank has helped, but we still need some better protections. GS still has some worthy ones. Dodd-Frank should have been added to GS, not replaced it.
milk and Girl Scout cookies ;-)
Save your breath-You may need it to blow up your date.
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Joined: Aug 2005
Posts: 6,388
old hand
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OP
old hand
Joined: Aug 2005
Posts: 6,388 |
Here's a better explanation than I can provide: What Hillary gets right about Glass-Steagall 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. 7 Years late and billions of dollars short. And still, how real can this be when your top 5 donors are: Citigroup Inc $824,402 $816,402 $8,000 Goldman Sachs $760,740 $750,740 $10,000 DLA Piper $700,530 $673,530 $27,000 JPMorgan Chase $696,456 $693,456 $3,000 Morgan Stanley $636,564 $631,564 $5,000 Open Secrets The only way to change this mess is with a complete restructuring of the financial system. The game is rigged and it is corrupt from the inside. No amount of band aid will help.
"The liberals can understand everything but people who don't understand them."
Lenny Bruce
"The cleverest of all, in my opinion, is the man who calls himself a fool at least once a month."
Dostoevsky
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Joined: Jan 2001
Posts: 27,583
Administrator Bionic Scribe
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Administrator Bionic Scribe
Joined: Jan 2001
Posts: 27,583 |
Here's a better explanation than I can provide: What Hillary gets right about Glass-Steagall 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. 7 Years late and billions of dollars short. And still, how real can this be when your top 5 donors are: Citigroup Inc $824,402 $816,402 $8,000 Goldman Sachs $760,740 $750,740 $10,000 DLA Piper $700,530 $673,530 $27,000 JPMorgan Chase $696,456 $693,456 $3,000 Morgan Stanley $636,564 $631,564 $5,000 Open Secrets The only way to change this mess is with a complete restructuring of the financial system. The game is rigged and it is corrupt from the inside. No amount of band aid will help. My point exactly!
milk and Girl Scout cookies ;-)
Save your breath-You may need it to blow up your date.
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Joined: Aug 2004
Posts: 17,125 Likes: 250
It's the Despair Quotient! Carpal Tunnel
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It's the Despair Quotient! Carpal Tunnel
Joined: Aug 2004
Posts: 17,125 Likes: 250 |
7 Years late and billions of dollars short.
"The Best of the Leon Russell Festivals" DVD
deepfreezefilms.com
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Joined: Aug 2004
Posts: 17,125 Likes: 250
It's the Despair Quotient! Carpal Tunnel
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It's the Despair Quotient! Carpal Tunnel
Joined: Aug 2004
Posts: 17,125 Likes: 250 |
So last night Trump committed the cardinal sin by connecting George W. Bush to the 9/11 attacks. Twitter Twitter erupted and the press blasted him. Why? Millions have already said it years before Donald Trump. But in any case, maybe he'll just get singed a little by the news media, or maybe this is his planned exit strategy. Had he blamed Clinton or Obama, he'd be annointed by now. And Lord knows, if he had pinned it on war criminal and former "Vice" President Dick Cheney instead, he'd be dead by morning and his body would never be found.
"The Best of the Leon Russell Festivals" DVD
deepfreezefilms.com
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Joined: Jan 2001
Posts: 27,583
Administrator Bionic Scribe
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Administrator Bionic Scribe
Joined: Jan 2001
Posts: 27,583 |
So last night Trump committed the cardinal sin by connecting George W. Bush to the 9/11 attacks. Twitter Twitter erupted and the press blasted him. Why? Millions have already said it years before Donald Trump. But in any case, maybe he'll just get singed a little by the news media, or maybe this is his planned exit strategy. Had he blamed Clinton or Obama, he'd be annointed by now. And Lord knows, if he had pinned it on war criminal and former "Vice" President Dick Cheney instead, he'd be dead by morning and his body would never be found. The assassins/hitmen would have trouble hiding that hair.
milk and Girl Scout cookies ;-)
Save your breath-You may need it to blow up your date.
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Joined: Aug 2005
Posts: 6,388
old hand
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OP
old hand
Joined: Aug 2005
Posts: 6,388 |
Leave it to Trump to tell the truth about at least one thing. 
"The liberals can understand everything but people who don't understand them."
Lenny Bruce
"The cleverest of all, in my opinion, is the man who calls himself a fool at least once a month."
Dostoevsky
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Joined: Jan 2001
Posts: 27,583
Administrator Bionic Scribe
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Administrator Bionic Scribe
Joined: Jan 2001
Posts: 27,583 |
Leave it to Trump to tell the truth about at least one thing. But the Republicans will still deny.
milk and Girl Scout cookies ;-)
Save your breath-You may need it to blow up your date.
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Joined: Aug 2005
Posts: 6,388
old hand
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OP
old hand
Joined: Aug 2005
Posts: 6,388 |
Leave it to Trump to tell the truth about at least one thing. But the Republicans will still deny. The BS factor in the Republican Party never seems to quit. They have taken it on as their primary MO.
"The liberals can understand everything but people who don't understand them."
Lenny Bruce
"The cleverest of all, in my opinion, is the man who calls himself a fool at least once a month."
Dostoevsky
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