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Do the math, 33.3% of working households have stay at home moms and 3.5% of working households have stay at home dads.Seriously pinqy, twenty million?
Do the math, 33.3% of working households have stay at home moms and 3.5% of working households have stay at home dads.Seriously pinqy, twenty million?
Hello Ed, of course there are stay at home moms and disabled folks. Thing is this number has doubled during the latest recession. Money is tight, so more people choose to not work? Care to answer that?
And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
From the article:A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
Oh Blah Blah Blah Stupid Prog Pablum ^^^^
What causes job creation: Economic Growth
What causes economic growth: A Healthy Private Sector (businesses large and small)
What causes a Healthy Private Sector: Free Markets that aren't oppressed by Big Government
We are still suffering the after effects of the 2nd Great Depression caused by the Republican Deregulation of the Wall Street Casino.
At best we will recover around the end of this decade but the damage to the economy was severe. The current imbalance between hardworking Americans and the wealthy has never been greater and there needs to be a reset on that wealth gap.
When a CEO is being paid 350 time more than the average worker than means that 300+ workers are out of jobs that could otherwise be helping the economy.
This won't happen out of the kindness of the hearts of greed obsessed CEO's either therefore this has to be done via We the People using the government OF the People FOR the People.
Yes, I know, your blood pressure is rising and you are calling me a commie and a socialist and all of the other idiotic kneejerk names.
But that doesn't alter the reality of (a) where we are now, and (b) how and why we got here, and (c) what we have to do in order to turn this around.
So use your outrage creatively and find a way to convince a CEO to create more jobs even if it means taking a pay cut. That would do more to help this nation than just venting your feelings at me.
From the article:A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
the labor force is defined as employed plus unemployed.From the article:A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
Would you call someone unemployed not in the labor force? To me that means they are available to work but unable to get a job.
And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
Oh Blah Blah Blah Stupid Prog Pablum ^^^^
What causes job creation: Economic Growth
What causes economic growth: A Healthy Private Sector (businesses large and small)
What causes a Healthy Private Sector: Free Markets that aren't oppressed by Big Government
We are still suffering the after effects of the 2nd Great Depression caused by the Republican Deregulation of the Wall Street Casino.
At best we will recover around the end of this decade but the damage to the economy was severe. The current imbalance between hardworking Americans and the wealthy has never been greater and there needs to be a reset on that wealth gap.
When a CEO is being paid 350 time more than the average worker than means that 300+ workers are out of jobs that could otherwise be helping the economy.
This won't happen out of the kindness of the hearts of greed obsessed CEO's either therefore this has to be done via We the People using the government OF the People FOR the People.
Yes, I know, your blood pressure is rising and you are calling me a commie and a socialist and all of the other idiotic kneejerk names.
But that doesn't alter the reality of (a) where we are now, and (b) how and why we got here, and (c) what we have to do in order to turn this around.
So use your outrage creatively and find a way to convince a CEO to create more jobs even if it means taking a pay cut. That would do more to help this nation than just venting your feelings at me.
You should know who was responsible for the deregulation of Wall Street if you want any credibikity.
"Bill Clinton sat down with Fareed Zakaria last week on CNN for a typically wide-ranging interview that touched on chemical weapons, big data and privacy, whether Chelsea Clinton should run for office, etc.
You know, the usual Bill Clinton interview. But Clinton’s comment about his record on regulation is an actual newsmaker, because it’s a giant whopper:
What happened? The American people gave the Congress to a group of very conservative Republicans. When they passed bills with the veto proof majority with a lot of Democrats voting for it, that I couldn’t stop, all of a sudden we turn out to be maniacal deregulators. I mean, come on. I know Senator Warren said the other day, admitted when she introduced a bill to reinstate the division between commercial and investment banks, she admitted that the repeal of Glass-Steagall did not cause one single solitary financial institution to fail.
This is, to be kind, bullshit. Memory is a hazy thing, but I have a hard time believing Clinton doesn’t know full well he’s not telling the truth here (and with his record, he doesn’t get the benefit of the doubt).
Let’s go to the tape. Clinton installed Robert Rubin and Larry Summers in the Treasury, which resulted in the Gramm-Leach-Bliley Act, which officially did in Glass-Steagall and the Commodity Futures Modernization Act, which left the derivatives market a laissez-faire Wild West (not to mention a disastrous strong dollar policy that was a critical and underrated factor in the bubble). He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice.
Now it’s true that Clinton faced an extremely hostile Republican Congress for the last six years of his presidency. But his administration actively encouraged the big deregulatory legislation, and squashed its own dissenters, like Brooksley Born, who saw disaster ahead. Clinton would have you believe that he signed those bills because his administration was forced to by a GOP that was beholden as usual to Big Business, but then what about the deregulatory legislation he signed in 1994, before Gingrich & Co. took Congress?"
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
The Right have to change all the definitions to rationalize their lies.Une
the labor force is defined as employed plus unemployed.From the article:A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
Would you call someone unemployed not in the labor force? To me that means they are available to work but unable to get a job.
Unemployed is defined as wants a job, available, and actively looking.
The Right have to change all the definitions to rationalize their lies.Une
the labor force is defined as employed plus unemployed.From the article:There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force.
As of August the breakdown of those age 25-54 Not in the Labor Force was:
Total: 23,624,000
Did Not Want a Job: 20,899,000
Wanted to work, did not look for work in over a year: 1,461,000
Wanted to work, looked in last year but not last 4 weeks, not available to start now: 301,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking for personal reasons (family issues, school, transportation etc) 639,000
Wanted to work, looked in last year but not last 4 weeks, available to work, stopped looking due to discouragement: 324,000
Source: A-38. Persons not in the labor force by desire and availability for work age and sex
The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
Would you call someone unemployed not in the labor force? To me that means they are available to work but unable to get a job.
Unemployed is defined as wants a job, available, and actively looking.
October 11, 2011
RUSH: I've often said, I said last week he who controls the definition of words, the meaning of words, controls the debate. He who controls the language controls the debate.
And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
Oh Blah Blah Blah Stupid Prog Pablum ^^^^
What causes job creation: Economic Growth
What causes economic growth: A Healthy Private Sector (businesses large and small)
What causes a Healthy Private Sector: Free Markets that aren't oppressed by Big Government
We are still suffering the after effects of the 2nd Great Depression caused by the Republican Deregulation of the Wall Street Casino.
At best we will recover around the end of this decade but the damage to the economy was severe. The current imbalance between hardworking Americans and the wealthy has never been greater and there needs to be a reset on that wealth gap.
When a CEO is being paid 350 time more than the average worker than means that 300+ workers are out of jobs that could otherwise be helping the economy.
This won't happen out of the kindness of the hearts of greed obsessed CEO's either therefore this has to be done via We the People using the government OF the People FOR the People.
Yes, I know, your blood pressure is rising and you are calling me a commie and a socialist and all of the other idiotic kneejerk names.
But that doesn't alter the reality of (a) where we are now, and (b) how and why we got here, and (c) what we have to do in order to turn this around.
So use your outrage creatively and find a way to convince a CEO to create more jobs even if it means taking a pay cut. That would do more to help this nation than just venting your feelings at me.
You should know who was responsible for the deregulation of Wall Street if you want any credibikity.
"Bill Clinton sat down with Fareed Zakaria last week on CNN for a typically wide-ranging interview that touched on chemical weapons, big data and privacy, whether Chelsea Clinton should run for office, etc.
You know, the usual Bill Clinton interview. But Clinton’s comment about his record on regulation is an actual newsmaker, because it’s a giant whopper:
What happened? The American people gave the Congress to a group of very conservative Republicans. When they passed bills with the veto proof majority with a lot of Democrats voting for it, that I couldn’t stop, all of a sudden we turn out to be maniacal deregulators. I mean, come on. I know Senator Warren said the other day, admitted when she introduced a bill to reinstate the division between commercial and investment banks, she admitted that the repeal of Glass-Steagall did not cause one single solitary financial institution to fail.
This is, to be kind, bullshit. Memory is a hazy thing, but I have a hard time believing Clinton doesn’t know full well he’s not telling the truth here (and with his record, he doesn’t get the benefit of the doubt).
Let’s go to the tape. Clinton installed Robert Rubin and Larry Summers in the Treasury, which resulted in the Gramm-Leach-Bliley Act, which officially did in Glass-Steagall and the Commodity Futures Modernization Act, which left the derivatives market a laissez-faire Wild West (not to mention a disastrous strong dollar policy that was a critical and underrated factor in the bubble). He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice.
Now it’s true that Clinton faced an extremely hostile Republican Congress for the last six years of his presidency. But his administration actively encouraged the big deregulatory legislation, and squashed its own dissenters, like Brooksley Born, who saw disaster ahead. Clinton would have you believe that he signed those bills because his administration was forced to by a GOP that was beholden as usual to Big Business, but then what about the deregulatory legislation he signed in 1994, before Gingrich & Co. took Congress?"
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
The fact that you feel the need to blame Clinton for the Republican Contract on America and the subsequent "free markets" deregulation tells me that you know the truth but just cannot admit it publicly. I am prepared to admit that the Democrats did have an enabling role to play but it was similar to that following 9/11. They were deliberately deceived by the GOP disinformation that was used to push the rightwing agenda.
So why not just man up and admit that it wasn't the Dems who came up with deregulation. Deregulation started with Reagan and Gingrich was the master manipulator for getting that through Congress. Every single piece of Republican deregulation caused damage to the economy beginning with the S&L crisis, then the Arthur Anderson/Enron/Worldcom/etc etc debacle and finishing up with the massive subprime mortgage Ponzi scheme financed by the deregulated Wall Street Casino banks that resulted in the current depression.
Yes, that's what I said.The Right have to change all the definitions to rationalize their lies.Une
the labor force is defined as employed plus unemployed.From the article:The only lie I see is this one by you. There is a lie in that chart...that ALL those not in the labor force are so discouraged they left the labor force. Quote that lie from the article and I will apologize.
The only possibilities allowed for in that quote are unemployed or discouraged. Unemployed are mentioned as being part of the labor force.Nearly one-quarter of this group—28.9 million people, or 23.2 percent of the total—is not currently employed. They either became so discouraged that they left the labor force entirely, or they are in the labor force but unemployed.
Would you call someone unemployed not in the labor force? To me that means they are available to work but unable to get a job.
Unemployed is defined as wants a job, available, and actively looking.
October 11, 2011
RUSH: I've often said, I said last week he who controls the definition of words, the meaning of words, controls the debate. He who controls the language controls the debate.
According to the United States Department of Labor, the Bureau of Labor Statistics defines the Labor force thus:
Labor force (Current Population Survey)
The labor force includes all persons classified as employed or unemployed in accordance with the definitions contained in this glossary.
BLS Glossary
Bunch of Rush loving right wingers, HUH!
If I had said anything about the definition of a depression your long winded response would mean something. I commented on the stupidity of using the term '2nd Great Depression'. When half the population is roaming the streets for recyclables to pay for dinner we can revisit the name.Oh quit with the email buzz words. The fact you think we are in a great depression shows you have no idea what one is. Ask someone who lived through the 30's and they'll explain it to you.And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
Oh Blah Blah Blah Stupid Prog Pablum ^^^^
What causes job creation: Economic Growth
What causes economic growth: A Healthy Private Sector (businesses large and small)
What causes a Healthy Private Sector: Free Markets that aren't oppressed by Big Government
We are still suffering the after effects of the 2nd Great Depression caused by the Republican Deregulation of the Wall Street Casino.
At best we will recover around the end of this decade but the damage to the economy was severe. The current imbalance between hardworking Americans and the wealthy has never been greater and there needs to be a reset on that wealth gap.
When a CEO is being paid 350 time more than the average worker than means that 300+ workers are out of jobs that could otherwise be helping the economy.
This won't happen out of the kindness of the hearts of greed obsessed CEO's either therefore this has to be done via We the People using the government OF the People FOR the People.
Yes, I know, your blood pressure is rising and you are calling me a commie and a socialist and all of the other idiotic kneejerk names.
But that doesn't alter the reality of (a) where we are now, and (b) how and why we got here, and (c) what we have to do in order to turn this around.
So use your outrage creatively and find a way to convince a CEO to create more jobs even if it means taking a pay cut. That would do more to help this nation than just venting your feelings at me.
A recession is defined as negative GDP growth for 2 or more quarters. Recessions occur in response to an overheated economy and rarely last more than 4 quarters, 6 tops.
On the other hand a "depression is characterized by "unusual" increases in unemployment, restriction of credit, shrinking output and investment, price deflation or hyperinflation, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile/erratic relative currency value fluctuations, mostly devaluations."
We have seen the collapse of currencies, shrinking output and investment, reduction in trade, restrictions on credit and lending and very unusual increases in unemployment since 2008.
The fact that unemployment is still as high as it is this long after the 2008 collapse is what makes this a depression rather than a recession. If 2008 were only a recession unemployment would be back down to normal levels but they aren't. Savings are at an all time low meaning that people are living off whatever equity they have because of the shortage of jobs. The high unemployment amongst graduates is another reason why this is a depression rather a recession.
All of the factors are in place pointing to a depression and the only reason that term is not being used is because that would have political ramifications. But from the impact on those who can't find jobs this is a depression.
A new chart from the minority side of the Senate Budget Committee shows a startling fact: Almost 1 in 4 Americans between the ages of 25-54 (or prime working years) are not working.
Here's a chart showing those in that age group currently employed (95.6 million)
and those who aren't (28.9 million):
View attachment 32325
1 in 4 Americans 25-54 Not Working The Weekly Standard
The USA need to revive its blue collar work force.
And yet the Republicans continue to fight against job creation in the US in favor of sending our jobs overseas.
They won't even come back from their vacation to support their own country in a war though so how can we expect them to suddenly decide to work for their own citizens.
If the Repubs ever show up for work again, they should be brought up on charges of treason.
Oh Blah Blah Blah Stupid Prog Pablum ^^^^
What causes job creation: Economic Growth
What causes economic growth: A Healthy Private Sector (businesses large and small)
What causes a Healthy Private Sector: Free Markets that aren't oppressed by Big Government
We are still suffering the after effects of the 2nd Great Depression caused by the Republican Deregulation of the Wall Street Casino.
At best we will recover around the end of this decade but the damage to the economy was severe. The current imbalance between hardworking Americans and the wealthy has never been greater and there needs to be a reset on that wealth gap.
When a CEO is being paid 350 time more than the average worker than means that 300+ workers are out of jobs that could otherwise be helping the economy.
This won't happen out of the kindness of the hearts of greed obsessed CEO's either therefore this has to be done via We the People using the government OF the People FOR the People.
Yes, I know, your blood pressure is rising and you are calling me a commie and a socialist and all of the other idiotic kneejerk names.
But that doesn't alter the reality of (a) where we are now, and (b) how and why we got here, and (c) what we have to do in order to turn this around.
So use your outrage creatively and find a way to convince a CEO to create more jobs even if it means taking a pay cut. That would do more to help this nation than just venting your feelings at me.
You should know who was responsible for the deregulation of Wall Street if you want any credibikity.
"Bill Clinton sat down with Fareed Zakaria last week on CNN for a typically wide-ranging interview that touched on chemical weapons, big data and privacy, whether Chelsea Clinton should run for office, etc.
You know, the usual Bill Clinton interview. But Clinton’s comment about his record on regulation is an actual newsmaker, because it’s a giant whopper:
What happened? The American people gave the Congress to a group of very conservative Republicans. When they passed bills with the veto proof majority with a lot of Democrats voting for it, that I couldn’t stop, all of a sudden we turn out to be maniacal deregulators. I mean, come on. I know Senator Warren said the other day, admitted when she introduced a bill to reinstate the division between commercial and investment banks, she admitted that the repeal of Glass-Steagall did not cause one single solitary financial institution to fail.
This is, to be kind, bullshit. Memory is a hazy thing, but I have a hard time believing Clinton doesn’t know full well he’s not telling the truth here (and with his record, he doesn’t get the benefit of the doubt).
Let’s go to the tape. Clinton installed Robert Rubin and Larry Summers in the Treasury, which resulted in the Gramm-Leach-Bliley Act, which officially did in Glass-Steagall and the Commodity Futures Modernization Act, which left the derivatives market a laissez-faire Wild West (not to mention a disastrous strong dollar policy that was a critical and underrated factor in the bubble). He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice.
Now it’s true that Clinton faced an extremely hostile Republican Congress for the last six years of his presidency. But his administration actively encouraged the big deregulatory legislation, and squashed its own dissenters, like Brooksley Born, who saw disaster ahead. Clinton would have you believe that he signed those bills because his administration was forced to by a GOP that was beholden as usual to Big Business, but then what about the deregulatory legislation he signed in 1994, before Gingrich & Co. took Congress?"
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
- See more at: Bill Clinton on deregulation The Republicans made me do it Columbia Journalism Review
The fact that you feel the need to blame Clinton for the Republican Contract on America and the subsequent "free markets" deregulation tells me that you know the truth but just cannot admit it publicly. I am prepared to admit that the Democrats did have an enabling role to play but it was similar to that following 9/11. They were deliberately deceived by the GOP disinformation that was used to push the rightwing agenda.
So why not just man up and admit that it wasn't the Dems who came up with deregulation. Deregulation started with Reagan and Gingrich was the master manipulator for getting that through Congress. Every single piece of Republican deregulation caused damage to the economy beginning with the S&L crisis, then the Arthur Anderson/Enron/Worldcom/etc etc debacle and finishing up with the massive subprime mortgage Ponzi scheme financed by the deregulated Wall Street Casino banks that resulted in the current depression.
