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They most certainly were. See Commodities Futures Modernization Act. See also Financial Services Modernization Act (a.k.a. Gramm-Leach-Bliley).and favored a Wild West deregulated financial industry
Banks weren't deregulated.
Now ask yourself why the CFMA had to have a provision in it which exempted Wall Street from state laws which apply to CASINOS and ILLEGAL BUCKET SHOPS.This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops
It is downright paranormal the way karma has come back to haunt the GOP. This is what happens when you throw every principle you ever had right out the window.In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?
The short answer? No.
In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?
The short answer? No.
They most certainly were. See Commodities Futures Modernization Act. See also Financial Services Modernization Act (a.k.a. Gramm-Leach-Bliley).and favored a Wild West deregulated financial industry
Banks weren't deregulated.
From section 117 of the CFMA (passed by a GOP Congress, signed into law by a Democratic President):
Now ask yourself why the CFMA had to have a provision in it which exempted Wall Street from state laws which apply to CASINOS and ILLEGAL BUCKET SHOPS.This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops
And where were the "states rights" hypocrites when this federal pre-exemption was placed in the CFMA by REPUBLICANS?
Running up the debt - debt ceiling increases, deficit spending - is something I fault all modern Presidents including Trump. The most obvious thing we need to do is cut spending which is the last thing Liberals want to discuss.
The “rich paying their fair share” is a lame, bullshit argument from the Left when they
*can’t define “fair share”,
* ignore the fact the high income earners pay most of the tax bill to begin with,
* Middle Class is necessarily included among the “the rich” in the eyes of the Left
* don’t differentiate between “the rich” and high income earners
So, what is the Democrats plan to get US out of Recession? More hijacking of the healthcare sector? Failed government-funded Climate Change companies? Arbitrary minimum wage increases?
Hold on!
You are equating the 2008 Recession to what is going on now?
First off a Virus that originated in China that spread World Wide because the Chinese Government did not contain it is what threw our country into this Recession or better yet Depression we are facing!
Also let be clear many have stated this is actually uncharted waters for an Election year, so as you attempt to use the deaths of thousands and China failure and them also crashing the market to believe this is a win for Democrats, well we will see but let be clear many Americans might just disagree with your asinine comparison seeing they have nothing in common except a Republican is President...
Remember Democrats controlled the Senate and House in 2008, so ummm let see the only thing the Republicans controlled then was the Oval Office.
Oh, before you scream " liar ", Nancy Pelosi was Speaker of the House in 2008 and Harry Reid was Senate Majority Leader and they took their positions in 2007, so remember that when selling your bullshit!
Running up the debt - debt ceiling increases, deficit spending - is something I fault all modern Presidents including Trump. The most obvious thing we need to do is cut spending which is the last thing Liberals want to discuss.
The most obvious thing we need to do is make the rich pay their fair share. And cut the bloated Military-Industrial complex. Problem solved.
The “rich paying their fair share” is a lame, bullshit argument from the Left when they
*can’t define “fair share”,
* ignore the fact the high income earners pay most of the tax bill to begin with,
* Middle Class is necessarily included among the “the rich” in the eyes of the Left
* don’t differentiate between “the rich” and high income earners
We've defined it many times... We should go back to the Tax Rates before Reagan. Even the Clinton Tax rates were probably fine.
So, what is the Democrats plan to get US out of Recession? More hijacking of the healthcare sector? Failed government-funded Climate Change companies? Arbitrary minimum wage increases?
So let's look at that.
Single Payer health care would be a HUGE money saver, as the US currently spends 17% of it's GDP on health care compared to 8-11% spent by the industrialized nations that have single payer or universal coverage.
Investing in energy independence would be a huge money maker, as if we develop the green technologies we will need in the future, we end our dependence on foreign oil (reducing our deficit) and funding to hostile regimes (Reducing our need for bloated military spending).
Increasing the minimum wage would really get us out of a recession. It's why FDR established a minimum wage to start with. Just you watch, when this virus subsides, the companies that laid of 10 million people aren't going to call back the same people they let go at the same wage. They'll start sorting through resumes and see who they can hire cheaper. This is why recessions are so bad for working folks... they knock us all back and it takes us years to recover.
I am all for investing in green or alternative technologies but not at the expense of compromising the current economy because it is oil-driven and simply because the Left hates oil so much they are willing to go with immature or under developed alternative energy that scales for a smoothe transition from oil.
I am all for investing in green or alternative technologies but not at the expense of compromising the current economy because it is oil-driven and simply because the Left hates oil so much they are willing to go with immature or under developed alternative energy that scales for a smoothe transition from oil.
Okay, I'm going to try to treat you seriously on this one.
When are we going to do this "smooth transition", exactly. We've known we've had a problem with our dependence on oil since the first Oil Shock of 1974. When I was 12. I'm 58 now.
The money we have spent playing Hall Monitor in the Middle East could have funded alternative energies a hundred times over. We've ended up creating enemies over there, and funding them with our oil dollars.
So you have to ask yourself WHY we haven't made this "smooth transition". In fact, if anything, we keep backsliding. Ronald Reagan proved he was Big Oil's bitch when he tore the solar panels off the White House.
Seriously, it will never be perfect from s transition standpoint but what most of the Left pushes for these days is an immediate withdrawal from oil over to unproven alternative energy. To accelerate that process for a more smoother transition, Big Oil and startups alike need to be incentivized to pursue alternative energy..... but that means tax incentives which, along with oil, is something else the Left does not like. I could care less if a strong US economy runs on oil, air, or water.
Seriously, it will never be perfect from s transition standpoint but what most of the Left pushes for these days is an immediate withdrawal from oil over to unproven alternative energy. To accelerate that process for a more smoother transition, Big Oil and startups alike need to be incentivized to pursue alternative energy..... but that means tax incentives which, along with oil, is something else the Left does not like. I could care less if a strong US economy runs on oil, air, or water.
Actually, no. We've been giving Big Oil Tax Breaks for years, and they keep fucking us.
AGAIN IT'S BEEN FORTY SIX FUCKING YEARS SINCE THE FIRST OIL SHOCK!!!!!! Big Oil and the private sector aren't going to step up to the bat, so we need government to do it.
We need to treat big oil like the criminals they are....
skews is a super partisan dickhead?....how can you tell?.....This is an idiotic thread, that only a super partisan dickhead would start.
The idea, that this horror of a recession/depression that we will be entering, can be blamed on the fact that a certain political party is in the WH is astoundingly ignorant.
This is like blaming Jack and Rose for hitting the iceberg.
You think you are going to stick it to Big Oil and that is going to have a positive effect when in reality, you will be sticking it to the consumers. OK, since you can’t get past your blind fury hatred of Oil, then we shift focus to innovation in startups; but, let’s not use alternative energy startups as simply clearing houses to payoff cronies (SEE Solyndra).
My Son!They most certainly were. See Commodities Futures Modernization Act. See also Financial Services Modernization Act (a.k.a. Gramm-Leach-Bliley).and favored a Wild West deregulated financial industry
Banks weren't deregulated.
From section 117 of the CFMA (passed by a GOP Congress, signed into law by a Democratic President):
Now ask yourself why the CFMA had to have a provision in it which exempted Wall Street from state laws which apply to CASINOS and ILLEGAL BUCKET SHOPS.This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops
And where were the "states rights" hypocrites when this federal pre-exemption was placed in the CFMA by REPUBLICANS?
See Commodities Futures Modernization Act. See also Financial Services Modernization Act (a.k.a. Gramm-Leach-Bliley).
How many thousands of pages of bank regulations were there before these acts, how many fewer after?
Now ask yourself why the CFMA had to have a provision in it which exempted Wall Street from state laws which apply to CASINOS and ILLEGAL BUCKET SHOPS.
Are OTC derivative transactions between "sophisticated parties" gambling?
denizan being called stupid again?....that happens in every thread he is in.....even jitts aint that bad.....In looking at the political implications of this horror show, one need only recall the 2008 Great Recession. The causes of that financial collapse — e.g., unregulated financial instruments, negligence from ratings companies, lender deception, the Federal Reserve’s failure to act — were complicated. Nevertheless, the politicians who resisted warnings (from then-Harvard professor Elizabeth Warren, among other people) and favored a Wild West deregulated financial industry have unique culpability. And the party in charge at the time — the Republicans — bore the brunt of the voters wrath at the polls. Do we imagine this domestic debacle will play out differently?
The short answer? No.
Dopey Donald Trump is setting himself up to be the biggest debt amassing POTUS ever. He will accumulate more debt in one term than Obama did in two terms.
The budget deficit for 2020 is likely to be $ 8+ trillion on top of $ 3 trillion Trump previously accumulated since 2017.
This is like blaming the 2001 New York City budget deficit on the New York City director of public works for clean up of the destroyed WTC buildings.
In fact, just to show our fellow board members here just how stupid you are, your side of the aisle are the ones wanting Trump to spend even more money helping Americans through this crisis.
Running up the debt - debt ceiling increases, deficit spending - is something I fault all modern Presidents including Trump. The most obvious thing we need to do is cut spending which is the last thing Liberals want to discuss.
The most obvious thing we need to do is make the rich pay their fair share. And cut the bloated Military-Industrial complex. Problem solved.
The “rich paying their fair share” is a lame, bullshit argument from the Left when they
*can’t define “fair share”,
* ignore the fact the high income earners pay most of the tax bill to begin with,
* Middle Class is necessarily included among the “the rich” in the eyes of the Left
* don’t differentiate between “the rich” and high income earners
We've defined it many times... We should go back to the Tax Rates before Reagan. Even the Clinton Tax rates were probably fine.
So, what is the Democrats plan to get US out of Recession? More hijacking of the healthcare sector? Failed government-funded Climate Change companies? Arbitrary minimum wage increases?
So let's look at that.
Single Payer health care would be a HUGE money saver, as the US currently spends 17% of it's GDP on health care compared to 8-11% spent by the industrialized nations that have single payer or universal coverage.
Investing in energy independence would be a huge money maker, as if we develop the green technologies we will need in the future, we end our dependence on foreign oil (reducing our deficit) and funding to hostile regimes (Reducing our need for bloated military spending).
Increasing the minimum wage would really get us out of a recession. It's why FDR established a minimum wage to start with. Just you watch, when this virus subsides, the companies that laid of 10 million people aren't going to call back the same people they let go at the same wage. They'll start sorting through resumes and see who they can hire cheaper. This is why recessions are so bad for working folks... they knock us all back and it takes us years to recover.
Hold on!
You are equating the 2008 Recession to what is going on now?
First off a Virus that originated in China that spread World Wide because the Chinese Government did not contain it is what threw our country into this Recession or better yet Depression we are facing!
Funny, China has done a better job at containing this virus than we have. But do go on with the racism, it's always comforting for you.
Also let be clear many have stated this is actually uncharted waters for an Election year, so as you attempt to use the deaths of thousands and China failure and them also crashing the market to believe this is a win for Democrats, well we will see but let be clear many Americans might just disagree with your asinine comparison seeing they have nothing in common except a Republican is President...
Oh, I think when this is all over, when people realized that he put his idiot son-in-law in charge of the response, when they realize he disbanded the Pandemic Response Team, when they find out he tried to withhold resources to placed that needed it to prop up states he wants to win in November, people will turn on him. In fact, they already are. When the virus is done and people are feeling the economic after effects of lost wages and lost jobs, they'll look to take it out on someone.
Bush-41 had little to do with the economic collapse in 1990 and by 1992, things were actually starting to get better. People STILL voted him out of office.
Remember Democrats controlled the Senate and House in 2008, so ummm let see the only thing the Republicans controlled then was the Oval Office.
Oh, before you scream " liar ", Nancy Pelosi was Speaker of the House in 2008 and Harry Reid was Senate Majority Leader and they took their positions in 2007, so remember that when selling your bullshit!
Okay, the problem with this was 1) The crisis didn't start in 2007, the problems probably go back to the previous recession, when the housing boom was started and then peaked and 2) Bush was in charge of all the agencies that were supposed to be watching the banks to make sure they didn't do exactly what they did.
I am all for investing in green or alternative technologies but not at the expense of compromising the current economy because it is oil-driven and simply because the Left hates oil so much they are willing to go with immature or under developed alternative energy that scales for a smoothe transition from oil.
Okay, I'm going to try to treat you seriously on this one.
When are we going to do this "smooth transition", exactly. We've known we've had a problem with our dependence on oil since the first Oil Shock of 1974. When I was 12. I'm 58 now.
The money we have spent playing Hall Monitor in the Middle East could have funded alternative energies a hundred times over. We've ended up creating enemies over there, and funding them with our oil dollars.
So you have to ask yourself WHY we haven't made this "smooth transition". In fact, if anything, we keep backsliding. Ronald Reagan proved he was Big Oil's bitch when he tore the solar panels off the White House.
