federal deficit hits five year low

[Truthmatters]

you guys can lie to yourselves all you want.

its makes your whole arguement flawed

 

[Rat in the Hat]

that was the signing date.

what was the implimentation date?

Full title An Act to enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes.
Colloquial name(s) Financial Services Modernization Act of 1999
Enacted by the
106th United States Congress
Effective Nov 12, 1999

Gramm?Leach?Bliley Act - Wikipedia, the free encyclopedia

You do know what the word "Effective" means, right?

 

[editec]

why did the Bush SEC hold back the broker rules in GLBact for 8 years?

Because it was the law of the land.

Thanks to whom?

Come on now TM, are you an honest player here or a partisan?

You can do it.

Please idenitify what POTUS AND WHAT PARTY made it impossible to control the mess that DERIVATIVES caused in 2007-2008.

I KNOW you can do it.

You CAN be an honest player.

The LAW of the land was already decided by the congress.

It included broker rules which the Bush SEC then heldback for 8 long years.


why did they do that?

No, I am afraid that you have been under-informed

Okay I'll credit you with NOT fully understanding the long complex chain of events explanation for WHY the USA economy melted down.

I cannot fault you for that since its taken me nearly two years to even BEGIN to get it.

But TM?

Look up the name BROOKSLEY BORN, would you?

YOU need to understand the true nature of the political environment you and I share.

I could tell you how it works (not well enough probably, but better than you now apparently get it) but I have noticed that people are more apt top accept the truth when they ferret it out themselves.

Do some reading, mate.

As a fellow citizen I am counting on people like YOU to help people like me, change the world.

 

[Rat in the Hat]

Now maybe you'll tell us why the Clinton SEC held the rules back for 14 months instead of implementing them immediately.

 

[rdean]

Do they mean 50x the average worker across all of the US or 50x the pay in their compay?

If the latter I'm sure the CEOs of Intel, Oracle, Google, etc. are laughing at the CEOs of McDonalds and WalMart.

"According to the latest edition of the AFL-CIO’s Executive Pay Watch report, the gap between CEO pay and worker pay expanded last year. In 2011, CEOs in the Fortune 500 made an average of $12 million, about 380 times what the average worker makes:

"The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010. Back in 1980, the average large company CEO only received 42 times the average worker’s pay."

Average Fortune 500 CEO Now Paid 380 Times As Much As The Average Worker | ThinkProgress

As those CEO salaries have grown, their taxes have declined. Jobs have been moved overseas. USMB Republicans feel those CEO's are doing a "wonderful job" and should be allowed to keep even more of what they have worked so hard for.

 

[rdean]

President Bush Addresses Nation on Economic Crisis - YouTube

I like the part where Bush described the "root cause" and left out his policies.

 

[georgephillip]

Do they mean 50x the average worker across all of the US or 50x the pay in their compay?

If the latter I'm sure the CEOs of Intel, Oracle, Google, etc. are laughing at the CEOs of McDonalds and WalMart.

"According to the latest edition of the AFL-CIO’s Executive Pay Watch report, the gap between CEO pay and worker pay expanded last year. In 2011, CEOs in the Fortune 500 made an average of $12 million, about 380 times what the average worker makes:

"The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010. Back in 1980, the average large company CEO only received 42 times the average worker’s pay."

Average Fortune 500 CEO Now Paid 380 Times As Much As The Average Worker | ThinkProgress

As those CEO salaries have grown, their taxes have declined. Jobs have been moved overseas. USMB Republicans feel those CEO's are doing a "wonderful job" and should be allowed to keep even more of what they have worked so hard for.

Republicans have long been the rich man's best friends in America; however, it doesn't change the electoral calculus that Democrats seeking higher office must confront today. In order to be elected it is necessary for Democrats and Republicans to convince the wealthy few to fund their campaigns:

"Contrary to this pluralistic view, I will try to demonstrate how rule by the wealthy few is possible despite free speech, regular elections, and organized opposition:

"'The rich' coalesce into a social upper class that has developed institutions by which the children of its members are socialized into an upper-class worldview, and newly wealthy people are assimilated.

"Members of this upper class control corporations, which have been the primary mechanisms for generating and holding wealth in the United States for upwards of 150 years now.

"There exists a network of nonprofit organizations through which members of the upper class and hired corporate leaders not yet in the upper class shape policy debates in the United States.

"Members of the upper class, with the help of their high-level employees in profit and nonprofit institutions, are able to dominate the federal government in Washington."

Democrats like Clinton and Obama are just as indebted to that upper class as Republicans like Bush and Romney.

Who Rules America: The Class-Domination Theory of Power

 

[Truthmatters]

President Bush Addresses Nation on Economic Crisis - YouTube

I like the part where Bush described the "root cause" and left out his policies.

It amazes me how many people on the right still try to claim this happened while Obama was president

 

[EdwardBaiamonte]

As those CEO salaries have grown, their taxes have declined.

In 1979 top 1% paid only 17% of Federal taxes, today they pay 42%!!

Surprise, the liberal is dead wong as usual!!

 

[georgephillip]

How many taxpayers earned enough to pay federal income tax in 1979 compared to today?
How do 1% tax rates today compare with "79?
Can we say "carried interest?"

 

[rdean]

"According to the latest edition of the AFL-CIO’s Executive Pay Watch report, the gap between CEO pay and worker pay expanded last year. In 2011, CEOs in the Fortune 500 made an average of $12 million, about 380 times what the average worker makes:

"The ratio of CEO-to-worker pay between CEOs of the S&P 500 Index companies and U.S. workers widened to 380 times in 2011 from 343 times in 2010. Back in 1980, the average large company CEO only received 42 times the average worker’s pay."

Average Fortune 500 CEO Now Paid 380 Times As Much As The Average Worker | ThinkProgress

As those CEO salaries have grown, their taxes have declined. Jobs have been moved overseas. USMB Republicans feel those CEO's are doing a "wonderful job" and should be allowed to keep even more of what they have worked so hard for.

Republicans have long been the rich man's best friends in America; however, it doesn't change the electoral calculus that Democrats seeking higher office must confront today. In order to be elected it is necessary for Democrats and Republicans to convince the wealthy few to fund their campaigns:

"Contrary to this pluralistic view, I will try to demonstrate how rule by the wealthy few is possible despite free speech, regular elections, and organized opposition:

"'The rich' coalesce into a social upper class that has developed institutions by which the children of its members are socialized into an upper-class worldview, and newly wealthy people are assimilated.

"Members of this upper class control corporations, which have been the primary mechanisms for generating and holding wealth in the United States for upwards of 150 years now.

"There exists a network of nonprofit organizations through which members of the upper class and hired corporate leaders not yet in the upper class shape policy debates in the United States.

"Members of the upper class, with the help of their high-level employees in profit and nonprofit institutions, are able to dominate the federal government in Washington."

Democrats like Clinton and Obama are just as indebted to that upper class as Republicans like Bush and Romney.

Who Rules America: The Class-Domination Theory of Power

The article is a little outdated written in 2005.

During the last election, Obama received a record number on contributions at 100 dollars or less. Most of the Republican's money came from billionaires and corporations. Right wingers will say Obama received corporate money, but they fuckingly pretend money coming directly from the CEO and BOD is exactly the same as bundled money coming from the employees of big corporations who are only using the company name because they work there. They insist the Republican Party, 90% white and conservative is EXACTLY the same as the coalition Democratic Party which includes everyone else.

Republicans opened up the voting process to big money. That means someone like Hugo Chevaz (I know he's dead, but he's a good example if he were alive), because he owned Citgo, a US company, he could have poured unlimited money into our elections.

But what to you expect from such a ridiculous party. They want background checks for voters, which is what you would need to get a Voter ID card, but not for mass murderers who kill children. This is not Eisenhower's party.

 

[tjvh]

It's funny... Neither my grocery bills, or what it costs to fill my gas tank indicate to me that the economy is improving.

 

[georgephillip]

It's funny... Neither my grocery bills, or what it costs to fill my gas tank indicate to me that the economy is improving.

Who will you blame if (when!) the US economy CRASHES loudly enough to focus your attention the same way 911 did?

 

[EdwardBaiamonte]

It's funny... Neither my grocery bills, or what it costs to fill my gas tank indicate to me that the economy is improving.

Who will you blame if (when!) the US economy CRASHES loudly enough to focus your attention the same way 911 did?

there is no reason to believe it will crash so why on earth is that an issue for you??