Can someone explain what Bernie Sander's policies are?

[Nicholas_1982]

Ok on this 1, are you saying Bernie Sanders is dumb or the 2 Nobel prize winning economists are dumb? or are you saying all 3 are dumb?

The housing bubble definitely played a significant role in the recession. But to say that no other banking practices contributed is untrue. Now if Bernie is over stating the impact of Glass Steagall on financial security for our system then that is definitely worth discussing

Ok on this 1, are you saying Bernie Sanders is dumb

Yes, Bernie Sanders is dumb.

or the 2 Nobel prize winning economists are dumb?

If they said that Glass-Steagall would have prevented banks from losing money in the housing market, then they are dumb as well.

No where am I finding any information that claims housing was the ONLY factor or cause.

This is a quote from US News and World Report.

"It is true that the financial crisis has enough blame to go around. Borrowers were reckless, brokers were greedy, rating agencies were negligent, customers were naïve, and government encouraged the fiasco with unrealistic housing goals and unlimited lines of credit at Fannie Mae and Freddie Mac.

Yet, the fact that there were so many parties to blame should not be used to deflect blame from the most responsible parties of all—the big banks. Without the banks providing financing to the mortgage brokers and Wall Street while underwriting their own issues of toxic securities, the entire pyramid scheme would never have got off the ground

It was Glass-Steagall that prevented the banks from using insured depositories to underwrite private securities and dump them on their own customers. This ability along with financing provided to all the other players was what kept the bubble-machine going for so long."

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it

No where am I finding any information that claims housing was the ONLY factor or cause.

We're not discussing the cause of the crisis. We're discussing the idiocy of Bernie's suggestions.

right and I am saying that there was definitely a link between the merger of investment and commercial banks and the risky gambling that ensued with mortgage backed securities and default swaps in the housing market

 

[Nicholas_1982]

Ok on this 1, are you saying Bernie Sanders is dumb or the 2 Nobel prize winning economists are dumb? or are you saying all 3 are dumb?

The housing bubble definitely played a significant role in the recession. But to say that no other banking practices contributed is untrue. Now if Bernie is over stating the impact of Glass Steagall on financial security for our system then that is definitely worth discussing

Ok on this 1, are you saying Bernie Sanders is dumb

Yes, Bernie Sanders is dumb.

or the 2 Nobel prize winning economists are dumb?

If they said that Glass-Steagall would have prevented banks from losing money in the housing market, then they are dumb as well.

No where am I finding any information that claims housing was the ONLY factor or cause.

This is a quote from US News and World Report.

"It is true that the financial crisis has enough blame to go around. Borrowers were reckless, brokers were greedy, rating agencies were negligent, customers were naïve, and government encouraged the fiasco with unrealistic housing goals and unlimited lines of credit at Fannie Mae and Freddie Mac.

Yet, the fact that there were so many parties to blame should not be used to deflect blame from the most responsible parties of all—the big banks. Without the banks providing financing to the mortgage brokers and Wall Street while underwriting their own issues of toxic securities, the entire pyramid scheme would never have got off the ground

It was Glass-Steagall that prevented the banks from using insured depositories to underwrite private securities and dump them on their own customers. This ability along with financing provided to all the other players was what kept the bubble-machine going for so long."

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

I copied and pasted his section on Glass-Steagall. It's right there.

After Glass-Steagall was repealed in 1999, banks were free to invest their customers’ money in a variety of risky loans, including the housing market.

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it.

Why? It wouldn't have prevented banks from writing bad mortgages.
It wouldn't have prevented the crisis.

the chain of events is much longer and not as simplistic as you are stating it to be, again you are not going into the mortgage backed securities and default swaps. also refer to the quotes from above also. you have a very shallow understanding of how many of the events and policies that lead to the crash were intertwined

 

[Dont Taz Me Bro]

I just want to know. What are his policies.

 

[rdean]

4. he wants to end fossil fuel subsidies
basic premise is the federal government shouldn't be subsidizing companies that make billions in profits each year

5. infrastructure program to rebuild/upgrade public utilities and roadways

You don't need college to fix a road. There has to be more to it than that.

 

[Nicholas_1982]

Maybe I am making a leap that Bernie didn't make but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

 

[Toddsterpatriot]

Ok on this 1, are you saying Bernie Sanders is dumb or the 2 Nobel prize winning economists are dumb? or are you saying all 3 are dumb?

The housing bubble definitely played a significant role in the recession. But to say that no other banking practices contributed is untrue. Now if Bernie is over stating the impact of Glass Steagall on financial security for our system then that is definitely worth discussing

Ok on this 1, are you saying Bernie Sanders is dumb

Yes, Bernie Sanders is dumb.

or the 2 Nobel prize winning economists are dumb?

If they said that Glass-Steagall would have prevented banks from losing money in the housing market, then they are dumb as well.

No where am I finding any information that claims housing was the ONLY factor or cause.

This is a quote from US News and World Report.

"It is true that the financial crisis has enough blame to go around. Borrowers were reckless, brokers were greedy, rating agencies were negligent, customers were naïve, and government encouraged the fiasco with unrealistic housing goals and unlimited lines of credit at Fannie Mae and Freddie Mac.

Yet, the fact that there were so many parties to blame should not be used to deflect blame from the most responsible parties of all—the big banks. Without the banks providing financing to the mortgage brokers and Wall Street while underwriting their own issues of toxic securities, the entire pyramid scheme would never have got off the ground

It was Glass-Steagall that prevented the banks from using insured depositories to underwrite private securities and dump them on their own customers. This ability along with financing provided to all the other players was what kept the bubble-machine going for so long."

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it

No where am I finding any information that claims housing was the ONLY factor or cause.

We're not discussing the cause of the crisis. We're discussing the idiocy of Bernie's suggestions.

right and I am saying that there was definitely a link between the merger of investment and commercial banks and the risky gambling that ensued with mortgage backed securities and default swaps in the housing market

Banks that had nothing to do with investment banking lost big money on mortgages.
Which banks lost money on default swaps?

 

[Contumacious]

I just want to know. What are his policies.

Read the "Communist Manifesto" they are in there.


.

 

[Toddsterpatriot]

Ok on this 1, are you saying Bernie Sanders is dumb or the 2 Nobel prize winning economists are dumb? or are you saying all 3 are dumb?

The housing bubble definitely played a significant role in the recession. But to say that no other banking practices contributed is untrue. Now if Bernie is over stating the impact of Glass Steagall on financial security for our system then that is definitely worth discussing

Ok on this 1, are you saying Bernie Sanders is dumb

Yes, Bernie Sanders is dumb.

or the 2 Nobel prize winning economists are dumb?

If they said that Glass-Steagall would have prevented banks from losing money in the housing market, then they are dumb as well.

No where am I finding any information that claims housing was the ONLY factor or cause.

This is a quote from US News and World Report.

"It is true that the financial crisis has enough blame to go around. Borrowers were reckless, brokers were greedy, rating agencies were negligent, customers were naïve, and government encouraged the fiasco with unrealistic housing goals and unlimited lines of credit at Fannie Mae and Freddie Mac.

Yet, the fact that there were so many parties to blame should not be used to deflect blame from the most responsible parties of all—the big banks. Without the banks providing financing to the mortgage brokers and Wall Street while underwriting their own issues of toxic securities, the entire pyramid scheme would never have got off the ground

It was Glass-Steagall that prevented the banks from using insured depositories to underwrite private securities and dump them on their own customers. This ability along with financing provided to all the other players was what kept the bubble-machine going for so long."

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it

Also, on the feelthebern.org link I did not see any statement where Bernie is making the claim you are asserting

I copied and pasted his section on Glass-Steagall. It's right there.

After Glass-Steagall was repealed in 1999, banks were free to invest their customers’ money in a variety of risky loans, including the housing market.

Now if you are asking my position on reinstating Glass-Steagall I will answer with a resounding "YES" please reinstate it.

Why? It wouldn't have prevented banks from writing bad mortgages.
It wouldn't have prevented the crisis.

the chain of events is much longer and not as simplistic as you are stating it to be, again you are not going into the mortgage backed securities and default swaps. also refer to the quotes from above also. you have a very shallow understanding of how many of the events and policies that lead to the crash were intertwined

the chain of events is much longer and not as simplistic as you are stating it to be,

I haven't stated anything about a chain of events.

again you are not going into the mortgage backed securities

Mortgage backed securities are simply repackaged mortgages.
Banks sold them under Glass-Steagall.

and default swaps.

I can't think of a bank that failed because of default swaps. Let me know if you come up with one.

you have a very shallow understanding of how many of the events and policies that lead to the crash were intertwined

That's funny. Especially since I haven't commented on the events or policies

 

[Toddsterpatriot]

Maybe I am making a leap that Bernie didn't make but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

Did the 2 economists argue that Glass-Steagall would have prevented banks from investing in the housing market? Would have prevented sub-prime mortgages?

 

[Contumacious]

Maybe I am making a leap that Bernie didn't make but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

Did the 2 economists argue that Glass-Steagall would have prevented banks from investing in the housing market? Would have prevented sub-prime mortgages?

HUH?


WTF?

Yo Vern, quit bullshitting

The so-called repeal of the Glass-Steagall Act of 1933 in 1999 is sometimes blamed for the financial crisis. Glass-Steagall was not in fact repealed. Only the provision prohibiting a commercial bank and an investment bank from being controlled by the same holding company was repealed.

Thanks to Robert Wenzel for pointing out this article from (of all places) the Washington Post, which points out the weaknesses in the argument:

Facts such as that Bear Stearns, Lehman Brothers and Merrill Lynch — three institutions at the heart of the crisis — were pure investment banks that had never crossed the old line into commercial banking. The same goes for Goldman Sachs, another favorite villain of the left

 

[Nicholas_1982]

Repeal of Glass-Steagall: Not a cause, but a multiplier

Washington Post article

 

[Remodeling Maidiac]

I just want to know. What are his policies.

Take from me & give to you.


You're welcome

 

[Contumacious]

Repeal of Glass-Steagall: Not a cause, but a multiplier

Washington Post article

BULLSHIT

 

[theDoctorisIn]

Who needs policies when we've got feelings?


I'm voting for Bernie, btw.

 

[Nicholas_1982]

I guess we are going to get into a source war here. I am looking at reports explaining how the repeal of glass steagall played a significant role in the recession and you are saying no, there is no link and Bernie is a fool for believeing such nonsense.

in weighing your word against 2 nobel economists reports and a washingtonpost article and a US News and world report article plus a plethora of other articles scattered randomly across the internet I see no need to just dismiss everything else for merely your word that Bernie and all the others are just loons

 

[Conservative65]

I will address the 2 policies that are most widely referred to.

1. universal single payer healthcare.

we would each pay a 9% increase in federal income tax so as to have guaranteed healthcare.

what this means. currently most americans have some form of private insurance. unless you are poor or old, then you have medicare/Medicaid/CHIP or you are a veteran with VA benefits.

you would basically have no more copays or deductibles or premiums. you would just be able to walk into the doctor and get treatment no matter how much money is in your checking account.

2. tuition free college

Bernie wants to impose a 0.5% tax on every stock trade over $100 to generate the approximately $70-$80 billion needed subsidize tuition at a state school.

call it free stuff that we pay for I guess.

I see a couple of problems with this right away. A 9% tax increase would devastate many families and mean nothing for others. The good thing about Obamacare are the exchanges which foster competition. Republicans won't admit it because they are racist and hate everything Obama.

And think about how many state colleges there are. 70 to 80 billion is not nearly enough. And what about technical schools and Jr. Colleges.

And all that money is not free.

And he doesn't even mention jobs. What kind of jobs is that free college preparing kids for? I don't have a good feeling about this. I like Clinton's plan better.

Where I work, if you go to college, the company will pay for it if it's in a field they need. When you graduate, if you stay four years longer, they will pay the balance of your education. That's very close to Mrs. Clinton's plan.

Who needs policies when we've got feelings?


I'm voting for Bernie, btw.

That makes you one of the problems in this country.

 

[rdean]

Maybe I am making a leap that Bernie didn't make but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

Did the 2 economists argue that Glass-Steagall would have prevented banks from investing in the housing market? Would have prevented sub-prime mortgages?

HUH?


WTF?

Yo Vern, quit bullshitting

The so-called repeal of the Glass-Steagall Act of 1933 in 1999 is sometimes blamed for the financial crisis. Glass-Steagall was not in fact repealed. Only the provision prohibiting a commercial bank and an investment bank from being controlled by the same holding company was repealed.

Thanks to Robert Wenzel for pointing out this article from (of all places) the Washington Post, which points out the weaknesses in the argument:

Facts such as that Bear Stearns, Lehman Brothers and Merrill Lynch — three institutions at the heart of the crisis — were pure investment banks that had never crossed the old line into commercial banking. The same goes for Goldman Sachs, another favorite villain of the left

Government is supposed to protect the middle class from big business. Government is supposed to protect big business from foreign hostile business and unfriendly governments.
Republicans want every government in the world stronger than ours. That's why they are dangerous to the country.

 

[Avatar4321]

Not really surprised that he can't figure out the policies for his own party. He doesn't ever understand us when we explain conservative policy

 

[Avatar4321]

Maybe I am making a leap that Bernie didn't make but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

but it is definitely in the 2 economists arguments and explanations how coupling securities with the sub prime mortgages, which is what the repeal of glass steagall allowed, had massive financial consequences

Did the 2 economists argue that Glass-Steagall would have prevented banks from investing in the housing market? Would have prevented sub-prime mortgages?

HUH?


WTF?

Yo Vern, quit bullshitting

The so-called repeal of the Glass-Steagall Act of 1933 in 1999 is sometimes blamed for the financial crisis. Glass-Steagall was not in fact repealed. Only the provision prohibiting a commercial bank and an investment bank from being controlled by the same holding company was repealed.

Thanks to Robert Wenzel for pointing out this article from (of all places) the Washington Post, which points out the weaknesses in the argument:

Facts such as that Bear Stearns, Lehman Brothers and Merrill Lynch — three institutions at the heart of the crisis — were pure investment banks that had never crossed the old line into commercial banking. The same goes for Goldman Sachs, another favorite villain of the left

Government is supposed to protect the middle class from big business. Government is supposed to protect big business from foreign hostile business and unfriendly governments.
Republicans want every government in the world stronger than ours. That's why they are dangerous to the country.

Government is supposed to protect our lives and liberties. Other than that they are to mind their own business and stay out of our lives