Newt says reinstate Glass Steagal

[Sallow]

Newt Gingrich Calls For Reinstating Glass-Steagall, Admits Deregulating The Banking Industry Was A Mistake | Addicting Info

This is sort of funny. But it shows Newt will say just about anything. Doesn't mean he's going to stick with it.

 

[Sallow]

who was it that wrote all those subprime loans tod?

Many institutions. How would Glass Steagall have prevented those loans?

Financial institutions would have not been able to guarantee them.

 

[manifold]

I never said he was unapologetic for being "part of the reason for the economy being in the shitter" (which is a rather dubious claim to make, since we're talking about 15 year old legislation).

It's not dubious in the least. This is what a lot of people don't understand. Changes in economic policy don't necessarily have immediate effects, good or bad. Sometimes the effects develop over time. In the case of Glass-Steagal, its repeal allowed financial institutions to play risky games with other people's money. It was just about guaranteed that this would return to bite us sooner or later, but there was no reason to think it would have an instantaneous effect, and it did not. Fifteen years later, the odds caught up with the banks and the system crashed and burned.

The underlying problems in the economy actually go back to thirty-year-old legislative and administrative changes.

In the case of Glass-Steagal, its repeal allowed financial institutions to play risky games with other people's money.

I know. Writing mortgages, what were they thinking?

Exactly, not one single mortgage was underwritten with Glass-Steagal in place.

 

[Mr. Shaman]

Does this mean you will throw Newt under the bus?

That would be a consideration only to someone small-minded like you who tends to generalize that all Republicans/conservatives agree with everything a particular Republican/conservative says or does.

Yeah....sure.....the hue & cry (from Republicans/conservatives; over Phil Gramm's hu$tle), was nearly DEAFENING!!!

[ame=http://www.youtube.com/watch?v=VcJ4sjgtIR0]American Casino - YouTube[/ame]
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[ame=http://www.youtube.com/watch?v=rKKvMJeBBSA]Q&A: Leslie & Andrew Cockburn - YouTube[/ame]

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As USUAL....it's too-little.too-LATE, by the silent-majority, because....after ALL....what would the NEIGHBORS HAVE SAID ....if you got prematurely INFORMED/ENGAGED??!!!!

"conservatives" (like you) should be too-ASHAMED to be called
AMERICANS!!!​

This conservative happens to agree with Newt on this issue. It doesn't make him my first choice as the eventual Republican nominee, but I would certainly support him if he was simply because any Republican would be a vast improvement over the current empty suit in the White House.

How the fuck would you people (who maintain full-time residency in the shadows), know ANYTHING about CURRENT-DEVELOPMENTS??

You're TOO DAMNED LAZY/PARANOID!!!!!


[ame=http://www.youtube.com/watch?v=w894xqReOdo]Rachel Maddow Exposes Republican Hypocrisy For What It Is......BS.flv - YouTube[/ame]​

 

[Sallow]

It's not dubious in the least. This is what a lot of people don't understand. Changes in economic policy don't necessarily have immediate effects, good or bad. Sometimes the effects develop over time. In the case of Glass-Steagal, its repeal allowed financial institutions to play risky games with other people's money. It was just about guaranteed that this would return to bite us sooner or later, but there was no reason to think it would have an instantaneous effect, and it did not. Fifteen years later, the odds caught up with the banks and the system crashed and burned.

The underlying problems in the economy actually go back to thirty-year-old legislative and administrative changes.

In the case of Glass-Steagal, its repeal allowed financial institutions to play risky games with other people's money.

I know. Writing mortgages, what were they thinking?

Exactly, not one single mortgage was underwritten with Glass-Steagal in place.

Well..banks are sort of funny about mortgages..

They actually ask questions like.. Can you pay it back?

 

[Toddsterpatriot]

who was it that wrote all those subprime loans tod?

Many institutions. How would Glass Steagall have prevented those loans?

Financial institutions would have not been able to guarantee them.

Except for Fannie and Freddie, who guaranteed these loans?

 

[Truthmatters]

they never wrote one loan

 

[Sallow]

Many institutions. How would Glass Steagall have prevented those loans?

Financial institutions would have not been able to guarantee them.

Except for Fannie and Freddie, who guaranteed these loans?

I love the "obtuse" game. It's pretty fun. And can be played by all.

Is the sky truly blue?

 

[Truthmatters]

If the banks had not been allowed to repackage the suvb primes and make money off them while unlaoding them then they would have had NO incentive to wroite so many sub primes.

Allowing the banks to be in securities made this happen.

Damn the right is allergic to facts

 

[Toddsterpatriot]

Financial institutions would have not been able to guarantee them.

Except for Fannie and Freddie, who guaranteed these loans?

I love the "obtuse" game. It's pretty fun. And can be played by all.

Is the sky truly blue?

You're so good at it.

Citibank lost money because they guaranteed mortgages?

 

[Toddsterpatriot]

they never wrote one loan

They sure bought plenty.

 

[Toddsterpatriot]

If the banks had not been allowed to repackage the suvb primes and make money off them while unlaoding them then they would have had NO incentive to wroite so many sub primes.

Allowing the banks to be in securities made this happen.

Damn the right is allergic to facts

Mortgages weren't securitized under Glass Steagall?

 

[Sallow]

Except for Fannie and Freddie, who guaranteed these loans?

I love the "obtuse" game. It's pretty fun. And can be played by all.

Is the sky truly blue?

You're so good at it.

Citibank lost money because they guaranteed mortgages?

Did John Thane get rich on credit swaps?

 

[Truthmatters]

Silly boy.

They would have had to sell them out right to someone else or face the effect of them defaulting like they knew they would when they wrote them.

GLBA 1999 gave the banks the right to sell securities.

They rolled these shit bags in with good loans and sold them VIA their own brokers ( which could be any smuck they picked and trained like they wanted because Bush's SEC never implimented the broker rules in the bill for 8 years). They then sold them to unsuspecting buyers who did not realise the broker rules were never implimented.


It pays to have some idea what the laws are and do before you spout partisan crap

 

[Mr. Shaman]

I give Newt credit here. He pushed for legislation, he recognizes that it was a mistake, and he doesn't mince words over it. Comes right out and says we should reverse course, and is unapologetic about that reversal. I think it speaks well of him. And I agree with him on this issue, we should reinstate it.

Bullshit!!!!​

For "Frig" Newton to make such a statement....at THIS TIME....after ALL WE KNOW....is like some dude, jumping in-front-of a speeding TRAIN....insisting he's going to WILL THE TRAIN TO RUN-HIM-OVER!!!

He's a McCain-style opportunist....nothing-more/nothing-less...the latest death-spiraling Republican-candidate.

 

[GHook93]

Newt Gingrich Calls For Reinstating Glass-Steagall, Admits Deregulating The Banking Industry Was A Mistake | Addicting Info

And you are some how faulting him for this? There is a HUGE difference from flipping on an issue like say abortion, gun control or gay marriage for political gain from flipping on a piece of legislation that turned out bad.

I applaud Newt for admitting this was a mistake and it needs to be reinstated!

Would you prefer a candidate that could never admit something didn't work out like expected and would never change it, because he had too much pride to be viewed as a flip-flopper?

You truly are dense!

 

[GHook93]

Newts right. Glass Steagalll should be reinstated.

Might have bee FDR's congress best legislation.

 

[Mr. Shaman]

Many institutions. How would Glass Steagall have prevented those loans?

Financial institutions would have not been able to guarantee them.

Except for Fannie and Freddie, who guaranteed these loans?

You "conservatives" certainly do ask some stupid, fuckin' questions.


[ame=http://www.youtube.com/watch?v=pNBctwAsu48]PBS NOW | Credit and Credibility part 1 - YouTube[/ame]​

 

[Truthmatters]

dear brain dead friend.

I think its great someone in the republican party get it.

Your party crashed the world economy with this push for deregiulation.

It fucked us bad.


Now realise this will ruin Newt with your tea party base.

They dont care that he cheated on wife after wife.

They dont care he took huge sums of money from freddy.


They will care if he become sane and backs away from the crazy town TP idea that regulation is bad.

 

[Toddsterpatriot]

Silly boy.

They would have had to sell them out right to someone else or face the effect of them defaulting like they knew they would when they wrote them.

GLBA 1999 gave the banks the right to sell securities.

They rolled these shit bags in with good loans and sold them VIA their own brokers ( which could be any smuck they picked and trained like they wanted because Bush's SEC never implimented the broker rules in the bill for 8 years). They then sold them to unsuspecting buyers who did not realise the broker rules were never implimented.


It pays to have some idea what the laws are and do before you spout partisan crap

You still think mortgages weren't securitized under Glass Steagall?