Why did the BUSH SEC hold back the broker rules?

[Truthmatters]

I have given you people fact after fact and you have given me next to nothing but insult.


you cant make policy based on lies and devoid of facts to back your position and expect people to respect you

You have a problem disseminating the facts.

So you claim SEC releases are lies?

 

[Truthmatters]

We have debunked lie after lie you have put forth TM.

just lying is not proof.

stop just lying and give some proof.

 

[Dot Com]

Tm, do you not realize the program started with carter and gained legs under clinton? If it would've been a success you would be bragging about it. Though as usual as all democrat polocies it failed, and as usual your trying to blame republicans. You do realize bush in 2005 tried to warn people the bust was about to happen? You can thank ole barney frank for saying we have nothing to worry about.

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

 

[Rocko]

Not one of you have met the burden of proof Ive given you.


Its how you opperate.

you ignore facts you dont like and make up news ones

The burden of proof is on you. You're the one saying brokers at banks weren't registered and left unregulated. You haven't provided proof.

 

[Truthmatters]

the bank exceptions and exemptions only apply to banks, and not to related entities. It is important to note that exceptions applicable to banks under the exchange act, as amended by the glba, are not applicable to other entities, including bank subsidiaries and affiliates, that are not themselves banks. As such, subsidiaries and affiliates of banks that engage in broker-dealer activities are required to register as broker-dealers under the act. Also, banks that act as municipal securities dealers or as government securities brokers or dealers continue to be required to register under the act.

proof

umm the banks didn't need to register as broker dealers but brokers that worked in banks needed to be registered.

and your proof is?

 

[Rat in the Hat]

Not one of you have met the burden of proof Ive given you.


Its how you opperate.

you ignore facts you dont like and make up news ones

Your burden of proof & 5 bucks will get you a cup of coffee @ Starbucks.


True story!

 

[TNHarley]

Tm, do you not realize the program started with carter and gained legs under clinton? If it would've been a success you would be bragging about it. Though as usual as all democrat polocies it failed, and as usual your trying to blame republicans. You do realize bush in 2005 tried to warn people the bust was about to happen? You can thank ole barney frank for saying we have nothing to worry about.

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

 

[Truthmatters]

Guide to Broker-Dealer Registration (April 2008)


Banks. Prior to the enactment of the "Gramm-Leach-Bliley Act" ("GLBA") in 1999, U.S. banks were excepted from the definitions of "broker" and "dealer" under the Act. The GLBA amended the Exchange Act, and banks now have certain targeted exceptions and exemptions from broker-dealer registration. Currently, as a result of Commission rulemaking, banks are undergoing a phase-in period for compliance with the new law. Since October 1, 2003, banks that buy and sell securities must consider whether they are "dealers" under the federal securities laws. The Division of Trading and Markets has issued a special compliance guide for banks, entitled "Staff Compliance Guide to Banks on Dealer Statutory Exceptions and Rules," which is available on the SEC's website at:

The bank exceptions and exemptions only apply to banks, and not to related entities. It is important to note that exceptions applicable to banks under the Exchange Act, as amended by the GLBA, are not applicable to other entities, including bank subsidiaries and affiliates, that are not themselves banks. As such, subsidiaries and affiliates of banks that engage in broker-dealer activities are required to register as broker-dealers under the Act. Also, banks that act as municipal securities dealers or as government securities brokers or dealers continue to be required to register under the Act.

BTW you lied I did post the whole paragraph

 

[Rocko]

I have given you people fact after fact and you have given me next to nothing but insult.


you cant make policy based on lies and devoid of facts to back your position and expect people to respect you

You have a problem disseminating the facts.

So you claim SEC releases are lies?

I'm claiming you misinterpreting them.

 

[Truthmatters]

Tm, do you not realize the program started with carter and gained legs under clinton? If it would've been a success you would be bragging about it. Though as usual as all democrat polocies it failed, and as usual your trying to blame republicans. You do realize bush in 2005 tried to warn people the bust was about to happen? You can thank ole barney frank for saying we have nothing to worry about.

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

they passed it becuase it had protections in it.


Then the Bush SEC held back those porotections for 8 years

 

[Truthmatters]

You have a problem disseminating the facts.

So you claim SEC releases are lies?

I claiming you misinterpreting them.

In what way?


I used them to SHOW for a fact they held back the bank broker rules for 8 years jsut like I said.

I used them to show the banks were excempted

 

[Claudette]

Tm, do you not realize the program started with carter and gained legs under clinton? If it would've been a success you would be bragging about it. Though as usual as all democrat polocies it failed, and as usual your trying to blame republicans. You do realize bush in 2005 tried to warn people the bust was about to happen? You can thank ole barney frank for saying we have nothing to worry about.

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

It was a bipartisan effort but folks like Dotty and Splatters only want to see the Rep part in it.

Clinton signed the bill and Rubin later worked for Citicorp. Not something those two want to acknowledge because hey, it proves who started the meltdown.

It was a colaborative effort by both parties. Mores the pity. They sank the economy and we are all sufferering because of greed.

Oh and BTW. The only facts Splatters pays attention to are hers. Your facts don't resonate with a partisan hack like her. Save your fingers my friend. Ignore brainless. LOL

 

[TNHarley]

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

they passed it becuase it had protections in it.


Then the Bush SEC held back those porotections for 8 years

Bullshit!
Rubin wanted it so badly! and guess what? Right after the law got signed, he went to work for Citigroup. Clinton thought our market couldnt compete because it was "old-school"

 

[Truthmatters]

you are lying when you say the Bush SEC did not hold these rules back for 8 years.

I proved that with their own SEC release

 

[TNHarley]

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

It was a bipartisan effort but folks like Dotty and Splatters only want to see the Rep part in it.

Clinton signed the bill and Rubin later worked for Citicorp. Not something those two want to acknowledge because hey, it proves who started the meltdown.

It was a colaborative effort by both parties. Mores the pity. They sank the economy and we are all sufferering because of greed.

Oh and BTW. The only facts Splatters pays attention to are hers. Your facts don't resonate with a partisan hack like her. Save your fingers my friend. Ignore brainless. LOL

DAMN STRAIT darlin! They caused it and Carter initially started the crash in 77. Everything in between didnt help. Funny, TM brought this on, and cant even accept the facts LOL

 

[Truthmatters]

Prove Rubin can be seen like you claim

 

[Truthmatters]

You have given nothing but words and NO proof


I have proven my case

 

[TNHarley]

you are lying when you say the Bush SEC did not hold these rules back for 8 years.

I proved that with their own SEC release

Who said that?
I remember me saying I couldnt find any info on it, but thats about it.

 

[Truthmatters]

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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.

 

[Truthmatters]

it is fact they held them back