I think Barney Frank is on to something...

[del]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

History. Out of fifty states, Reagan got 49. The other....?

...was minnesota-good effort, though.

 

[Old Rocks]

The primary cause of this debacle is the deregulation of the trading practices that made the use of the credit derivitives possible. We can thank Phil Gramm for that. And Clinton failed to foresee how these instruments would be used. Although, had he vetoed that bill, the Republican Congress would have voted to override his veto. Still, he could have done more.

 

[Truthmatters]

How right you are OR.

 

[PoliticalChic]

Why in the flying fuck would anyone vote for a cocksucker(literaly)
like Bawney Fawank. If this is one of the best Mass. has to offer God help us.

History. Out of fifty states, Reagan got 49. The other....?

...was minnesota-good effort, though.

I'm abashed. Thanks.

 

[Xenophon]

You need 2/3 majority in the house and senate to override a presidential veto.

It's irrelivent that a GoP congress would try to do so, they lacked the votes.

 

[del]

History. Out of fifty states, Reagan got 49. The other....?

...was minnesota-good effort, though.

I'm abashed. Thanks.

you were thinking of nixon in '72, no doubt.

 

[Truthmatters]

106th United States Congress - Wikipedia, the free encyclopedia

they had 55 Rs in that year and could have easily gotten 5 indy and or dems to go along.

 

[del]

106th United States Congress - Wikipedia, the free encyclopedia

they had 55 Rs in that year and could have easily gotten 5 indy and or dems to go along.

which five, liar?

 

[WillowTree]

106th United States Congress - Wikipedia, the free encyclopedia

they had 55 Rs in that year and could have easily gotten 5 indy and or dems to go along.

my very favoritist Reagan quote paraphrased "The thing about librals is that they know so much that isn't so."

 

[Xenophon]

106th United States Congress - Wikipedia, the free encyclopedia

they had 55 Rs in that year and could have easily gotten 5 indy and or dems to go along.

From your own link, the congress:

Republican 223 51.3% 1
Democratic 211 48.6% 4

That isn't even close to 2/3, they could not overturn a Clinton Veto.

Period.

 

[Truthmatters]

File:Gramm-Leach-Bliley Vote 1999.png - Wikipedia, the free encyclopedia

the actual vote tallys

 

[Truthmatters]

The GLB act 1999 was touted as a economic boon and had consumer info protection elements which were what was sold to the people.

 

[editec]

It WAS an economic boon...for bankers.

 

[Truthmatters]

Yes it was, Gramm had been fighting for it for years.

The law had already been broken and Gramm needed to protect the law breaker.

He then got a real cushy job at UBS and helped run them straight into the ground.

 

[DiveCon]

106th United States Congress - Wikipedia, the free encyclopedia

they had 55 Rs in that year and could have easily gotten 5 indy and or dems to go along.

hey dumb fuck, there were ZERO "indy's" in the senate at that time


you just dont know anything

 

[DiveCon]

Yes it was, Gramm had been fighting for it for years.

The law had already been broken and Gramm needed to protect the law breaker.

He then got a real cushy job at UBS and helped run them straight into the ground.

more lies

 

[Truthmatters]

what part is a lie?

 

[Truthmatters]

The Subprime Mess and Phil Gramm: An Experiment in Deregulation | InjuryBoard Los Angeles


In 1999, former Senator Phil Gramm (who is, incidentally, Senator John McCain's economic adviser and cochairs his presidential campaign) set out to completely gut the Glass-Steagall Act, and did so successfully, replacing most of its components with the new Gramm-Leach-Bliley Act: allowing commercial banks, investment banks, and insurers to merge (which would have violated antitrust laws under Glass-Steagall). Sen. Gramm was the driving force behind the Gramm-Leach-Bliley Act, as he had received over $4.6 million from the FIRE sector (Finance, Insurance and Real Estate donations) over the previous decade, and once the Act passed, an influx of "megamergers" took place among banks and insurance and securities companies, as if they had been eagerly awaiting the passage of Gramm's Act. Everything in between Glass-Steagall and Gramm-Leach-Bliley (i.e. Savings and Loan crisis/bust) was, in large part, the incubation period for what would take place over the nine years that would follow the passage of Gramm's Act: an experiment in deregulation.

 

[editec]

Yes, a number of us have beensaying all along that had the laws (regarding what different types of banks could invest in) NOT been changed, we would NOT be in this mess right now.

The constant mantra that GOVERNMENT REGULATION IS AN INSULT TO FREEMARKET CAPITALISM has been disproved (and then ignored) many times in the last thiry years.

 

[Truthmatters]

National Mortgage News - MortgageWire Archive


February 16, 1999

Modernization Bill Excludes FHLB Reforms
Senate Banking Committee chairman Phil Gramm, R., Texas, excluded language reforming the Federal Home Loan Bank system from a draft version of the financial modernization bill released on Tuesday. However, in a prepared statement, Sen. Gramm said the FHLB provisions are "still being discussed," which leaves open the possibility that they could be added to the bill at a later date. The Senate Banking Committee is expected to hold hearings next week on the proposed financial modernization bill and a mark-up could come as early as March 3. The reforms currently under discussion include: enabling smaller banks to join the FHLB system; making membership in the system voluntary for thrifts; changing the annual $300 million REFCORP payment to a percentage of assets; and modifying the capital structure of the system. Also under consideration is a provision that would make it a criminal offense for community groups to "extort" money from a bank during a Community Reinvestment Act examination. The provision also would penalize banks for paying money to community groups in exchange for favorable CRA testimony.