Tulsi Gabbard for President

[kaz]

Nothing else needs to be said.

Since she identified herself as a Democrat, she said she's a moron

 

[Rigby5]

I can’t remember off hand but 2 of it’s clauses render the entire law a joke.

Reading law is my least favorite thing to do, so instead here is wiki's overview, which also implies some irregularities.
{...
The Glass–Steagall legislation describes four provisions of the United States Banking Act of 1933 separating commercial and investment banking.[1] The article 1933 Banking Act describes the entire law, including the legislative history of the provisions covered herein.

As for the Glass–Steagall Act of 1932, the common name comes from the names of the Congressional sponsors, Senator Carter Glass and Representative Henry B. Steagall.[2]

The separation of commercial and investment banking prevented securities firms and investment banks from taking deposits, and commercial Federal Reserve member banks from:

• dealing in non-governmental securities for customers,
• investing in non-investment grade securities for themselves,
• underwriting or distributing non-governmental securities,
• affiliating (or sharing employees) with companies involved in such activities.

Starting in the early 1960s, federal banking regulators' interpretations of the Act permitted commercial banks, and especially commercial bank affiliates, to engage in an expanding list and volume of securities activities.[3] Congressional efforts to "repeal the Glass–Steagall Act", referring to those four provisions (and then usually to only the two provisions that restricted affiliations between commercial banks and securities firms),[4] culminated in the 1999 Gramm–Leach–Bliley Act (GLBA), which repealed the two provisions restricting affiliations between banks and securities firms.[5]

By that time, many commentators argued Glass–Steagall was already "dead".[6] Most notably, Citibank's 1998 affiliation with Salomon Smith Barney, one of the largest US securities firms, was permitted under the Federal Reserve Board's then existing interpretation of the Glass–Steagall Act.[7] In November 1999, President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate".[8][9]

Some commentators have stated that the GLBA's repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the financial crisis of 2007–2008. Nobel Memorial Prize in Economics laureate Joseph Stiglitz argued that the effect of the repeal was "indirect": "[w]hen repeal of Glass-Steagall brought investment and commercial banks together, the investment-bank culture came out on top".[10][11] Economists at the Federal Reserve, such as Chairman Ben Bernanke, have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act.[12][13][14]
...}

 

[Rigby5]

Since she identified herself as a Democrat, she said she's a moron

Not really.
Party affiliation often has to do with what the electorate expectations are.
For example, southern blue dog democrats were actually very conservative, but did not want to be though of as associated with the party of Lincoln.

 

[kaz]

Not really.
Party affiliation often has to do with what the electorate expectations are.
For example, southern blue dog democrats were actually very conservative, but did not want to be though of as associated with the party of Lincoln.

There is no such thing anymore as a conservative or even moderate Democrat. They were all expunged from the party. They are all going to vote for 1 Trillion + 3.5 Trillion socialist moonbat spending

 

[Rigby5]

There is no such thing anymore as a conservative or even moderate Democrat. They were all expunged from the party. They are all going to vote for 1 Trillion + 3.5 Trillion socialist moonbat spending

Not really.
For example, Bernie Sanders keeps getting elected by conservative because he is always a fiscal conservative.

 

[kaz]

Not really.
For example, Bernie Sanders keeps getting elected by conservative because he is always a fiscal conservative.

Bernie Sanders is a conservative, LOL. You're a moon bat

 

[Rigby5]

Bernie Sanders is a conservative, LOL. You're a moon bat

Do you think anyone but a conservative could keep getting re-elected in Vermont?
Socialism is very old, and actually very conservative.
For example, socialized medicine would cost us less than half what we are paying now.

 

[kaz]

Do you think anyone but a conservative could keep getting re-elected in Vermont?
Socialism is very old, and actually very conservative.
For example, socialized medicine would cost us less than half what we are paying now.

You're arguing that a self described Communist is a conservative. You're too stupid to just not laugh at.

HAHAHAHAHAHAHAHAHAHAHAHAHAHA

 

[Indeependent]

Reading law is my least favorite thing to do, so instead here is wiki's overview, which also implies some irregularities.
{...
The Glass–Steagall legislation describes four provisions of the United States Banking Act of 1933 separating commercial and investment banking.[1] The article 1933 Banking Act describes the entire law, including the legislative history of the provisions covered herein.

As for the Glass–Steagall Act of 1932, the common name comes from the names of the Congressional sponsors, Senator Carter Glass and Representative Henry B. Steagall.[2]

The separation of commercial and investment banking prevented securities firms and investment banks from taking deposits, and commercial Federal Reserve member banks from:

• dealing in non-governmental securities for customers,
• investing in non-investment grade securities for themselves,
• underwriting or distributing non-governmental securities,
• affiliating (or sharing employees) with companies involved in such activities.

Starting in the early 1960s, federal banking regulators' interpretations of the Act permitted commercial banks, and especially commercial bank affiliates, to engage in an expanding list and volume of securities activities.[3] Congressional efforts to "repeal the Glass–Steagall Act", referring to those four provisions (and then usually to only the two provisions that restricted affiliations between commercial banks and securities firms),[4] culminated in the 1999 Gramm–Leach–Bliley Act (GLBA), which repealed the two provisions restricting affiliations between banks and securities firms.[5]

By that time, many commentators argued Glass–Steagall was already "dead".[6] Most notably, Citibank's 1998 affiliation with Salomon Smith Barney, one of the largest US securities firms, was permitted under the Federal Reserve Board's then existing interpretation of the Glass–Steagall Act.[7] In November 1999, President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate".[8][9]

Some commentators have stated that the GLBA's repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the financial crisis of 2007–2008. Nobel Memorial Prize in Economics laureate Joseph Stiglitz argued that the effect of the repeal was "indirect": "[w]hen repeal of Glass-Steagall brought investment and commercial banks together, the investment-bank culture came out on top".[10][11] Economists at the Federal Reserve, such as Chairman Ben Bernanke, have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act.[12][13][14]
...}

Once upon a time there was a web page that succinctly summarized the Glass Steagall Acts' 18 provisions.
I can no longer find anything but long winded bullshit sites that are too long to reveal the 2 provisions that allow financial institutions to bypass the 100% safety net of separating between different classes of financial institutions.

 

[Rigby5]

You're arguing that a self described Communist is a conservative. You're too stupid to just not laugh at.

HAHAHAHAHAHAHAHAHAHAHAHAHAHA

Nonsense.
Bernie never subscribed to communism at all, in any way.
Bernie is a socialist, and most of the world is socialist.

 

[Indeependent]

Nonsense.
Bernie never subscribed to communism at all, in any way.
Bernie is a socialist, and most of the world is socialist.

Why isn't everybody South of the US and in the Muslim world trying to get into a Socialist nation?

 

[Rigby5]

Once upon a time there was a web page that succinctly summarized the Glass Steagall Acts' 18 provisions.
I can no longer find anything but long winded bullshit sites that are too long to reveal the 2 provisions that allow financial institutions to bypass the 100% safety net of separating between different classes of financial institutions.

My simplistic understanding of the banking problem is that in order to prevent bank runs, the feds had to insure banks.
But if you insure banks, then they are being encouraged to invest in things way too risky, since they know the feds are required to bail them out.
So the idea is supposed to be you split banks into their insured and safe deposits, and their uninsured and risky investments.

 

[Rigby5]

Why isn't everybody South of the US and in the Muslim world trying to get into a Socialist nation?

Most of the people south of the US and in the Muslim world do not want to go anywhere.
The main people who want to leave where they are have no choice because there is fighting going on.
But some likely are motivated by potential profits, and the US does have the greatest potential for profits in the whole world.
That is not necessarily a good thing.
Many of the sources of profit in the US are unethical, like charging double for health care and selling fake dangerous vaccines.

 

[Indeependent]

Most of the people south of the US and in the Muslim world do not want to go anywhere.
The main people who want to leave where they are have no choice because there is fighting going on.
But some likely are motivated by potential profits, and the US does have the greatest potential for profits in the whole world.
That is not necessarily a good thing.
Many of the sources of profit in the US are unethical, like charging double for health care and selling fake dangerous vaccines.

I hope you realize that most MDs don't have a social life before or after getting their degree.

 

[kaz]

Nonsense.
Bernie never subscribed to communism at all, in any way.
Bernie is a socialist, and most of the world is socialist.

You said Bernie is capitalist, which is the opposite of socialist. Now he's a socialist. Once again you prove you're just making up your shit as you go.

Bernie is a lifetime supporter of the Soviet Union, Cuba, he's a communist. You know that, you're just lying

 

[MinTrut]

Nothing else needs to be said.

She's great.

Way too good for the Democrats.

She's wrong on guns, but that stuff doesn't go anywhere anyway.

 

[kaz]

Nonsense.
Bernie never subscribed to communism at all, in any way.
Bernie is a socialist, and most of the world is socialist.

https://www.washingtonpost.com/politics/inside-bernie-sanderss-1988-10-day-honeymoon-in-the-soviet-union/2019/05/02/db543e18-6a9c-11e9-a66d-a82d3f3d96d5_story.html

 

[P F Tinmore]

 

[P F Tinmore]

Tulsi Gabbard on the Afghanistan Withdrawal Hearing and the ‘Woke-ification’ of the Military​

 

[Lesh]

I thought she retired from politics and was making porn in Moscow...