Why did the BUSH SEC hold back the broker rules?

[Truthmatters]

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"

why did the Bush SEC ONLY implement the parts of the law that the Banks liked?

 

[TNHarley]

Robert Rubin - Wikipedia, the free encyclopedia
Rethinking Robert Rubin - Businessweek

 

[TNHarley]

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"

why did the Bush SEC ONLY implement the parts of the law that the Banks liked?

Greed. IDK how many times I have to say that

 

[Claudette]

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

LOL As I said the only facts she's interested in are the ones that prove her partisan bs. Its all the Reps and the Dems had no part in the meltdown.

No ones facts but hers are correct. Hell. Your facts could be written in blood but would be lies because they don't agree with her "facts."

She's a flamming idiot and proves it eveytime she posts. Save your breath and ignore the brainless twott. LOL

 

[Rocko]

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

You don't understand what the bank exception means.

 

[saveliberty]

it is fact they held them back

Who is they? Why did they hold them back? With links please, because we all know you use sources and facts.

 

[Rocko]

Besides TM, what did the brokers at the banks do that was unscrupulous when they were left unregulated? And how the hell did it cause the collapse?

 

[saveliberty]

Derivatives were the tipping point, so it would be the unwise choice to actively use and trade them I guess. Of course, all those trades were executed by registered traders and brokers....

 

[Truthmatters]

they rolled subprime into their mortgage securities rendering them NON triple AAA.

They then lied to the buyers and claimed the securities were triple AAA.


That is a fact too

 

[TNHarley]

You got links? You dont need them right?

 

[Dubya]

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.

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

 

[saveliberty]

they rolled subprime into their mortgage securities rendering them NON triple AAA.

They then lied to the buyers and claimed the securities were triple AAA.

That is a fact too

Was that a nonregulated transaction? Nope. Fail on your part.

Subprime were traded as such by most players. Another lie by TM.

 

[Rocko]

they rolled subprime into their mortgage securities rendering them NON triple AAA.

They then lied to the buyers and claimed the securities were triple AAA.


That is a fact too

Brokers don't create securities, they sell them.

Do you have any proof anyone lied to anyone?

 

[Truthmatters]

How Wall Street Got Rich on Bum Mortgages, and Might Do It Again - CBS News

 

[saveliberty]

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.

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

 

[Truthmatters]

the broker is the one selling them.

They are supposed to be experts on the products they sell.


The banks had their Experts selling fake triple AAA rated securities.

THAT IS AN UNDENIABLE FACT

 

[Truthmatters]

show one prosicution of a broker ofr the banks being prosicuted for breaching their license restrictions during these years

 

[Truthmatters]

Testimony -- Paulson

Paulson wanted self regulating banks.

he testified to it in 2000.






Hearing on the "Financial Marketplace of the Future"


Prepared Testimony of Mr. Henry M. Paulson
Chairman and CEO
Goldman Sachs & Company


9:30 a.m., Tuesday, February 29, 2000
13th Floor Conference Room - Securities and Exchange Commission Offices
7 World Trade Center, New York, NY
Mr. Chairman & Members of the Committee:

I am pleased to appear today to respond to your request that we share our vision of the future of the U. S. securities markets, and the regulatory environment in which they operate.

Goldman Sachs is privileged to be among the top tier of global investment banks. We commit substantial capital every day to bringing new companies to market. We make markets in hundreds of stocks and provide high quality investment research to our customers. We are proud of the innovations, such as block trading, we have brought to the market place. We believe this privilege, combined with the experience gained in the 130 years of our existence, and our international perspective, imposes an obligation on us to look objectively and dispassionately at the structure of our markets.

Let me begin by saying that the whirlwind of change driven by technology and globalization is dramatically changing the landscape of our markets, and how both individuals and institutions buy and sell securities.

Clearly, technology is leading the way, to the benefit of most investors. Given this reality, and given the compelling empirical evidence reinforcing it in other jurisdictions, we support a model that will permit technology to shape the continuing evolution of our markets - from what they were to what they will become. At the same time, however, the problem of fragmentation is real. And growing. That is why we are also convinced that, to ensure true competition, and fairness for each investor, big or small, all orders should meet in a central place - one that will promote greater liquidity, and that cannot be dominated by people with special knowledge, or able to gain unfair advantage. We believe such competition is in the best interests of both companies seeking capital and investors placing their money at risk.





he was dead wrong.


He then gave them money without any strings when it all came crashing down

 

[Rat in the Hat]

Does anyone else think that TM is so hopped up on this subject because she lost money buying securities?

 

[Truthmatters]

it didnt work out so well for the American people did it