Author Topic: Wall Street’s wet dream of a policy agenda  (Read 1009 times)

Offline josephpalazzo

Wall Street’s wet dream of a policy agenda
« on: March 22, 2014, 11:20:44 AM »
Quote

On the Hill, it’s hard to find where the Tea Party and Wall Street disagree. Tea Party senators like Mike Lee, Rand Paul, and Ted Cruz, plus conservative senators like David Vitter, have rallied around You are not allowed to view links. Register or Login repealing the entirety of Dodd-Frank and replacing it with nothing. In the House, Republicans are attacking new You are not allowed to view links. Register or Login regulations, all the You are not allowed to view links. Register or Login of the Consumer Financial Protection Bureau, the You are not allowed to view links. Register or Login of the Volcker Rule, and the You are not allowed to view links. Register or Login of the FDIC to wind down a major financial institution, while relentlessly attacking You are not allowed to view links. Register or Login You are not allowed to view links. Register or Login and You are not allowed to view links. Register or Login regulatory funding. This is Wall Street’s wet dream of a policy agenda.
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Offline SGOS

Re: Wall Street’s wet dream of a policy agenda
« Reply #1 on: March 22, 2014, 11:32:11 AM »
Yep, and they will probably get their way.  Who will stop them?

Offline AllPurposeAtheist

Re: Wall Street’s wet dream of a policy agenda
« Reply #2 on: March 22, 2014, 11:39:45 AM »
Ever hear of Manchurian candidates?
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Offline stromboli

Re: Wall Street’s wet dream of a policy agenda
« Reply #3 on: March 22, 2014, 12:00:24 PM »
Interesting that the Glass-Steagall Act was implemented by 2 Democrats and kept Wall Street in check until it was ultimately repealed under Clinton- probably the stupidest thing he did. The Volcker Rule was a watered down version of it.

This is why I love Elizabeth Warren:

Elizabeth Warren, former Harvard Law professor and de facto head of the Consumer Financial Protection Bureau,You are not allowed to view links. Register or Login

strongly for the full re-implementation of Glass-Steagall: [Determining trading and hedging] is the strongest argument for a modern Glass-Steagall. Glass-Steagall said in effect that hedge funds should be separated from commercial banking. If a big institution wants to go out and play in the market, that’s fine. But it doesn’t get the backup of the federal government. However, the current fight centers on weakening even the Volcker Rule, not strengthening it.


My kind of gal.
« Last Edit: March 22, 2014, 12:07:07 PM by stromboli »
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Offline AllPurposeAtheist

Re: Wall Street’s wet dream of a policy agenda
« Reply #4 on: March 22, 2014, 12:09:08 PM »
Tobad she'll probably never be senate majority leader because she's just not corruptable enough.
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Offline josephpalazzo

Re: Wall Street’s wet dream of a policy agenda
« Reply #5 on: March 22, 2014, 03:26:34 PM »
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Interesting that the Glass-Steagall Act was implemented by 2 Democrats and kept Wall Street in check until it was ultimately repealed under Clinton- probably the stupidest thing he did.

The 1999 Gramm–Leach–Bliley Act (GLBA) repealed the two provisions of Glass-Steagall Act, that restricted affiliations between banks and securities firms. All three were Republicans. It's true that Clinton could have vetoed it, but remember, this was in the aftermath of the Lewinsky scandal, and Clinton was no longer the man he had been before.

Offline zarus tathra

Re: Wall Street’s wet dream of a policy agenda
« Reply #6 on: March 22, 2014, 05:17:52 PM »
I get that we need to stop bailing out failing banks, but the Wikipedia article for Dodd-Frank doesn't actually say anything about banning bailouts outside of the overview.
?"Belief is always most desired, most pressingly needed, when there is a lack of will." -Friedrich Nietzsche

Ideals are imperfect. Morals are self-serving.

 

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