Citibank CEO - Banks Need Regulation

[Syphon]

Citi CEO: Banks need regulation - Video - Business News

hmm banks agreeing banks need to be regulated. interesting....

 

[GuyPinestra]

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]

 

[Syphon]

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...

Ron Paul explains why he voted against repeal of Glass-Steagall - YouTube

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.

 

[GuyPinestra]

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...

Ron Paul explains why he voted against repeal of Glass-Steagall - YouTube

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.

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.

 

[The Rabbi]

Citi CEO: Banks need regulation - Video - Business News

hmm banks agreeing banks need to be regulated. interesting....

Well established players in industries always want more regulation to stifle competition.
Or didnt you know that?

 

[The Rabbi]

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.

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?

 

[editec]

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

 

[GuyPinestra]

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.

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?

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...

 

[RDD_1210]

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.

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?

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...

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.

 

[The Rabbi]

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.

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?

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...

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.

 

[The Rabbi]

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?

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...

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.

Are you still repeating lies? You fail every time you bring this up. Because you are wrong. You are the most wrong poster here, except for RDean of course.

 

[GuyPinestra]

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?

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...

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.

Would you care to elucidate this 'banking crisis' post Glass-Steagle?? Or are you just talking through your clown wig again?

 

[Truthmatters]

Tell us why the bush SEC refused to impliment the Broker rules for YEARS while this mess built?

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

 

[Truthmatters]

Who sold securities at a bank after the GLBact was signed?

 

[Truthmatters]

None of this would have happened if the entire bill would have been implimented

 

[RDD_1210]

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...

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.

Are you still repeating lies? You fail every time you bring this up. Because you are wrong. You are the most wrong poster here, except for RDean of course.

I'm not wrong Rabbi, skin color has nothing to do with leadership ability, no matter how much you want us to believe it. I'll repeat it as long as I see you post here because it was easily the dumbest thing anyone has ever posted on this site. Even dumber than when you thought that the story from the Onion was real. Congratulations.

 

[Truthmatters]

No brokers to sell the fucked up securities and they would not have finacially benifited from them.

That means they would have no reason to write so many bad loans.

No bad loans no collapse.

Bush and SEC under Bush caused this mess.

 

[The Rabbi]

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...

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.

Would you care to elucidate this 'banking crisis' post Glass-Steagle?? Or are you just talking through your clown wig again?

Latin American crisis in the 1970s, S&L crisis in the 1980s-90s. I am sure there were others.
We had crises before during and after Glass-Steagel. It was useless legislation, except for lib politicians who like to play populist and appeal to "stick it to da Man." This plays well with less informed audiences.
Like you.

 

[The Rabbi]

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.

Are you still repeating lies? You fail every time you bring this up. Because you are wrong. You are the most wrong poster here, except for RDean of course.

I'm not wrong Rabbi, skin color has nothing to do with leadership ability, no matter how much you want us to believe it. I'll repeat it as long as I see you post here because it was easily the dumbest thing anyone has ever posted on this site. Even dumber than when you thought that the story from the Onion was real. Congratulations.

You can repeat it but I never said sucha thing. You are unable to distinguish what is actually said from what you think is said. That marks you as a less intelligent person. Sorry, it's true.