Citibank CEO - Banks Need Regulation

Discussion in 'Politics' started by Syphon, Feb 24, 2012.

  1. Syphon
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    Syphon BANNED

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  2. GuyPinestra
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    GuyPinestra Senior Member

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    The 1999 repeal of Glass-Steagle was the kicker...

    In the House of Representatives, the final vote to adopt Financial Services Modernization Act (aka Gramm-Leach-Bliley) was taken on Nov. 4, 1999.

    Code:

    YEAS NAYS PRES NV
    REPUBLICAN 207 5 10
    DEMOCRATIC 155 51 5
    INDEPENDENT 1
    TOTALS 362 57 15

    As we can see, the bill received a great deal of support from both sides of the aisle. This was very clearly not a vote along partisan lines. Current Speaker of the House Nancy Pelosi voted for the bill, as did a number of Democratic Party notables.

    The full roll-call vote record is here: http://clerk.house.gov/evs/1999/roll570.xml

    Moving to the other wing of the Capitol, let's check the Senate.

    The Senate vote was also taken on Nov. 4, 1999.

    Code:

    YEAs 90
    NAYs 8
    Present 1
    Not Voting 1

    Seven of the eight nays were Democratic members of the Senate. The Present and Not Voting members were Republicans.

    The 90%of the Senate that voted for the bill included current Majority Leader Harry Reid, Vice President Joe Biden, and Democratic Senatorial legend Ted Kennedy.

    The full roll-call record may be found here:

    U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote

    And Ron Paul voted AGAINST it...

    [ame=http://www.youtube.com/watch?v=eIC8E9Q2pTs]Ron Paul explains why he voted against repeal of Glass-Steagall - YouTube[/ame]
     
  3. Syphon
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    Syphon BANNED

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    im not trying to play the partisan game with this. this was a bad bill to repeal and both the GOP and dems should have known that. so they both get the blame.

    i am simply pointing out that regulation of the banks is not a negative thing.
     
  4. GuyPinestra
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    GuyPinestra Senior Member

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    I'm not, either, that's why I posted the vote totals. It was a bi-partisan bill that got overwhelming support from both sides of the aisle. It was the dumbest thing Congress has done in a long time. Dorgan knew it was bad news, Ron Paul knew it was bad news, but most everybody else was listening to the damned bankers.
     
    Last edited: Feb 24, 2012
  5. The Rabbi
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    The Rabbi Diamond Member

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    Well established players in industries always want more regulation to stifle competition.
    Or didnt you know that?
     
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  6. The Rabbi
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    The Rabbi Diamond Member

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    It was bad news why? Because banks could make more money and that's a bad thing? We want companies making less money, so they can be subsidized by the gov't, right?
    Do people actually think things through?
     
  7. editec
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    editec Mr. Forgot-it-All

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    I suppose I'd be all for regulating my competition if I owned the regulators, too.
     
  8. GuyPinestra
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    GuyPinestra Senior Member

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    You're fucking joking, right? Glass-Steagle was enacted after the Great Depression to keep banks from doing the highly risky, highly speculative and highly immoral things that they did to CAUSE it. 12 times the banksters tried to get it repealed, and finally Congress went along with them. 10 years later, MELTDOWN.

    You're either joking or dumber than a box of donuts. I'm betting on...

    [​IMG]
     
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  9. RDD_1210
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    RDD_1210 Forms his own opinions

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    Save your breath with him. He's actually that dumb and a racist to boot. I don't throw that term around but he's actually dumb enough to think that skin color has an impact on leadership ability. So yeah, he is that dumb.
     
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  10. The Rabbi
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    The Rabbi Diamond Member

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    Which is why we had banking crises after Glass Steagel went in, right?
    You are the dumbest poster here. OK, you're not dumber than Truthmatters. But it's close.
     

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