Newt says reinstate Glass Steagal

[Mr. Shaman]

The funny thing is the right now has to back regulating the industry to defend Newt.


Im glad that they are starting to come to their senses for once.

It was a stupid move (by Clinton, fyi) and anyone with even a half an ounce of common sense knows that. Pity that our politicians - both sides - put corruption above the country way back during Clinton's presidency, huh?

Why stop at clinton? One can.make arguments as far back as carter and.reagan.
Clinton wasnt the sole reason just like fannie and freddie didnt cause this mess. A lot of.reasons went into thr melt down.

#1 being.....

....PHIL GRAMM!!!!

 

[Truthmatters]

Barney Frank says Glass Steagal would not have prevented the subprime housing crisis. Barney Frank is against reinstating Glass Steagal.

Does this mean you will throw Barney Frank under the bus?

heres a little tip.

Just claiming something doesnt make it true.

You want to quote Franks then quote him.

I gave a link to Newts words so you could see he actually said what I claimed he said.

If you want to play like the adults provide links to your claims

Barney Frank has said this several times & in several ways. Below is just one of several videos of him saying Glass Steagal would not have prevented the derivatives, subprime housing crisis & he is against reinstating Glass Steagal.

Barney Frank on Glass Steagal

He did not say what you claim he says in that video you liar

 

[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.

This is what's great about partisans, be they on the right or left, how well they can spin to make everything good for their 'side'. TM of course takes the cake. Ask her about balance budgets in the '90's and she'll tell you all about how Clinton did it. Talk about deregulation that Clinton signed in the '90's and watch how quick she'll turn to tell you it wasn't his fault. Keep on keeping on TM.

Did the Bush SEC impliment the full bill Clinton signed?


No they did not.


How can you blame anyone for the failure of legisltation when the legislation was never implimented?

 

[cawacko]

Frankly if Newt makes the tea party face the facts like Deregulation is BAD for the country and that FDR was a hero then I would welcome newt with all his baggage back into poltics.


They are throwing their whole previous positions on these things in trash for newt.

He is way smarter than the rest of the pack but he will also take money from the likes of Fand F and then say people who do should be in jail.


Weird guy newt

TM, if deregulation is so bad for the country why have Democratic Presidents signed more deregulation over the past 35 years than Republicans?

Hey cawack, hows it going.


Now its customary to give a link to prove a claim when you make it.

Gt get the numbers at some reputable source and we will discuss it like adults.


WHAT the bills actually said is the key huh?

It's going well thanks. Hope the same for you.

I've given you the link several times in the past. It involved the trucking, airline, railroad deregulation passed by a Democratic Congress and signed by President Carter. We know the financial deregulation that Clinton signed passed by a Republican Congress during the '90's. We know about the Savings & Loan deregulation passed by Reagan and under Bush we know about the massive new regulations from Sarbanes-Oxley.

For Carter feel free to read this.

Rethinking Carter - William L. Anderson - Mises Daily

 

[Truthmatters]

Banks lost money on the mortgages they kept. Billions.

Some banks even bought MBS created by other banks.

Yes they did because the sub primes inflated housing prices causing even good loans to default because Bush crashed the world wide economy by refusing to impliment the Broker rules which allowed the banks to hire whom ever they wanted as a broker and train them however they wanted.

Before that Brokers were trusted professionals with credentials

Yeah, if only all brokers had credentials, banks wouldn't have written bad loans.

what were the creditials of the past before GLBact?

Do you even know what you are talking about?

 

[Truthmatters]

TM, if deregulation is so bad for the country why have Democratic Presidents signed more deregulation over the past 35 years than Republicans?

Hey cawack, hows it going.


Now its customary to give a link to prove a claim when you make it.

Gt get the numbers at some reputable source and we will discuss it like adults.


WHAT the bills actually said is the key huh?

It's going well thanks. Hope the same for you.

I've given you the link several times in the past. It involved the trucking, airline, railroad deregulation passed by a Democratic Congress and signed by President Carter. We know the financial deregulation that Clinton signed passed by a Republican Congress during the '90's. We know about the Savings & Loan deregulation passed by Reagan and under Bush we know about the massive new regulations from Sarbanes-Oxley.

For Carter feel free to read this.

Rethinking Carter - William L. Anderson - Mises Daily

Mises is a right wing hack austrian economic site.


If what you say is true there will be many places to document your claim.

 

[Mr. Shaman]

Im glad the right is now admitting they were wrong about Deregulation.

It is a historically failed idea.


Now maybe we can re regulate the areas that need regulating.


This must mean you will all Back Obama in regulating the industry?

It really takes a different kind of mindset to understand what is being said here. Truthmatters you do understand there is a whole lot that goes into the totallity of deregulation correct? That if someone supports a specific act of deregulation it doesn't mean they support deregulating everything possible or if one doesn't support a deregulation act it does not mean they never support deregulation.

You have been shown facts over and over regarding the last 35 years that Democrats have backed, supported and signed as many deregulation measures as have the Republicans. You get so caught up in the rhetoric that you don't follow the actions and anyone who follows politics knows that a politicians rhetoric and action are often two different things.

So saying deregulation is a historically failed idea is not only stupid it is false.

Obama's new Wall Street regulation is an example of bad regulation. It was toothless and unenforceable.

O.K., loudmouth.....show everyone WHERE!!!!!!

Wall Street Reform

Check & Mate, bitch!​

 

[Toddsterpatriot]

Yes they did because the sub primes inflated housing prices causing even good loans to default because Bush crashed the world wide economy by refusing to impliment the Broker rules which allowed the banks to hire whom ever they wanted as a broker and train them however they wanted.

Before that Brokers were trusted professionals with credentials

Yeah, if only all brokers had credentials, banks wouldn't have written bad loans.

what were the creditials of the past before GLBact?

Do you even know what you are talking about?

If you think the credentials changed, just show me.

If you think the "old credentials" would have prevented bad mortgages before they were created, prove it.

 

[Truthmatters]

Its in my sig.

Go read the link

 

[Mr. Shaman]

Hmmm...... This free market thing has 1929 and 2008 to it's credit. Can we say that it is a failure?

How is it a failure when it does exactly what it's supposed to do?

When people are too corrupt, too dishonest, too covetous, too proud, it creates the illusion of economic growth, when there is none.

Ya'.....

....HEARD ABOUT THAT....

....huh??

​

 

[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.

You cant get much more reputatble a source than the SEC on what they did right from the SEC

 

[Mr. Shaman]

Does this mean you will throw Newt under the bus?

Naah , it means that Newt would do a little show of getting it reinstated knowing it will not pass.

Same thing as his contract on America dog and pony show.
How many times will people fall for the same old crap.

What's the life-span for the RNC's figurehead????

 

[Toddsterpatriot]

Its in my sig.

Go read the link

"An important provision of the Gramm-Leach-Bliley Act amended the definition of "broker" in the Securities Exchange Act of 1934 so that banks would no longer be completely excluded from the broker-dealer registration requirements. At the same time, the new law created specific exceptions from those requirements. Proposed Regulation R would give effect to these bank broker exceptions, in a way that accommodates the traditional business practices of banks, and at the same time furthers our goal of better protecting investors"

Sorry, no proof at your link that these rules would have prevented bad mortgages.

Maybe you can find it?

 

[Toddsterpatriot]

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.

You cant get much more reputatble a source than the SEC on what they did right from the SEC

Your SEC source doesn't prove your claim. Try again?

 

[Truthmatters]

how does that link not prove the broker rules were not implimented for 8 years?

 

[Toddsterpatriot]

Does this mean you will throw Newt under the bus?

Naah , it means that Newt would do a little show of getting it reinstated knowing it will not pass.

Same thing as his contract on America dog and pony show.
How many times will people fall for the same old crap.

What's the life-span for the RNC's figurehead????

That elephant is squeezing out a couple of Obamas.

 

[Toddsterpatriot]

how does that link not prove the broker rules were not implimented for 8 years?

Your link doesn't prove what you claim the rules would have done.
Try again?

 

[Mr. Shaman]

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

This is what I like about Newt.

He's not an idiot like the rest of the group.

Yeah....he's only a.....

...LIAR.

*

[ame=http://www.youtube.com/watch?v=0b_IMHUP7us]Medicare: Newt Gingrich's Bad Week of 'Garbageous' Lies, Stumbles & Mighty Flip-Flops - YouTube[/ame]
*
[ame]www.youtube.com/watch?v=9U4xrY0kMpE[/ame]​

 

[Mr. Shaman]

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

That took balls because the legislation that effectively neutralized it was the Republican introduced and passed Gramm-Leach-Bliley.

If Gramm Leach had not been passed, not one bank would have ever received a bailout. That doesn't mean we wouldn't have had any of our current problems but the fewer the better.
Now if the Repubs hadn't deregulated the banking industry and then securities industry, plus opened the loophole which allowed the credit-swaps instead of requiring Mortgage-Backed Securites to be eligible, we would have avoided the whole mess altogether. At least on the macro scale. There would still be thousands of adjustable, NINJA and 125% mortgages to deal with but that would be a small percantage of the debacle we're presently facing.

Oh and it wouldn't be a matter of reinstating Glass-Steagal, just repealing Gramm-Leach.

Out of curiousity, how did all those Republican Congressional bills become law?

Gramm SNUCK that bill in.....'cause he couldn't get it passed
ON IT'S OWN MERIT!!!!

*

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

SEE: 5:00 thru 12:00
​

 

[Truthmatters]

how does that link not prove the broker rules were not implimented for 8 years?

Your link doesn't prove what you claim the rules would have done.
Try again?

Rules for an SEC Broker Dealer | eHow.com

while you read this explanation keep in mind that for 8 years under the Bush SEC there were not rules in place