Newt says reinstate Glass Steagal

[Toddsterpatriot]

how does that link not prove the broker rules were not implimented for 8 years?

Your link doesn't prove what you claim the rules would have done.
Try again?

Rules for an SEC Broker Dealer | eHow.com

while you read this explanation keep in mind that for 8 years under the Bush SEC there were not rules in place

Which of these rules would prevent bad mortgages?

 

[Mr. Shaman]

You have no idea what you are talking about do you tod?

Only a lot more than you.
I know, it's a low bar you set.

I explained this mess in my own words and cited laws and inactions on laws.


You see this is why the tea party is so bad for the country.

You people pretend you know things when you know nothing

.....Most obvious.....right from The START!!!!!!


[ame=http://www.youtube.com/watch?v=lUPMjC9mq5Y]9.12 DC TEA PARTY - MARCH FOOTAGE WITH INTERVIEWS - YouTube[/ame]
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[ame=http://www.youtube.com/watch?v=fevga9jUC48]9.12 DC TEA PARTY - INTERVIEW B-ROLL - YouTube[/ame]​

 

[Truthmatters]

Examinations and Inspections



Broker-dealers are required to be examined by the SEC and their self-regulating organization. SROs generally inspect new broker-dealers after six months. Inspectors from the SEC can inspect a broker-dealer's books at any time. Examinations are done to ensure that securities broker-dealers are complying with SEC regulations.



Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

 

[Truthmatters]

The U.S. Securities and Exchange Commission has separate definitions for broker and dealer, although the two terms are typically used synonymously. A broker is anyone who conducts securities transactions on behalf of others. A dealer buys and sells securities for their own account, through a broker or otherwise. Anyone can perform the activities of a broker or dealer so long as they comply with SEC regulations.

Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

 

[Mr. Shaman]

It really takes a different kind of mindset to understand what is being said here. Truthmatters you do understand there is a whole lot that goes into the totallity of deregulation correct? That if someone supports a specific act of deregulation it doesn't mean they support deregulating everything possible or if one doesn't support a deregulation act it does not mean they never support deregulation.

You have been shown facts over and over regarding the last 35 years that Democrats have backed, supported and signed as many deregulation measures as have the Republicans. You get so caught up in the rhetoric that you don't follow the actions and anyone who follows politics knows that a politicians rhetoric and action are often two different things.

So saying deregulation is a historically failed idea is not only stupid it is false.

Obama's new Wall Street regulation is an example of bad regulation. It was toothless and unenforceable.

O.K., loudmouth.....show everyone WHERE!!!!!!

Wall Street Reform

Check & Mate, bitch!​

Gee.......what happened to Wacky Quacky????????

​

 

[Truthmatters]

The banks were allowed to hire whomever they wanted and train them however they wanted for 8 years becausse the SEC refused to impliment the rules in GLBact.

That means the banks could hire people and train them to sell securities ( the shitty assed sub prime loaded crap securities) They didnt have to train them to understand WHAT they were selling.

 

[Truthmatters]

Now that I have PROVED my point without partisan sources what do you have to say?

 

[KissMy]

heres a little tip.

Just claiming something doesnt make it true.

You want to quote Franks then quote him.

I gave a link to Newts words so you could see he actually said what I claimed he said.

If you want to play like the adults provide links to your claims

Barney Frank has said this several times & in several ways. Below is just one of several videos of him saying Glass Steagal would not have prevented the derivatives, subprime housing crisis & he is against reinstating Glass Steagal.

Barney Frank on Glass Steagal

He did not say what you claim he says in that video you liar

You are a liar & complete IDIOT!!!!! You refuse to through your fat gay friend under the bus. Barney was the head of HFSC & could have reinstated Glass-Steagal but he refused. He instead inserted Dodd-Frank that still allows this fraud against US citizens to continue. His friend Jon Corzine just bankrupted MF Global the same way Lehman Brothers did.

To Restore Glass-Steagall: Dump Barney Frank Now!

Barney Frank Is Preventing Glass Steagall From Being Legislated

 

[Mr. Shaman]

Gee......it's lookin' like Gingrich-fans are doing their best

FART-IN-THE-WIND

impression!!!!!

.

.

.

 

[Toddsterpatriot]

Examinations and Inspections



Broker-dealers are required to be examined by the SEC and their self-regulating organization. SROs generally inspect new broker-dealers after six months. Inspectors from the SEC can inspect a broker-dealer's books at any time. Examinations are done to ensure that securities broker-dealers are complying with SEC regulations.



Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

How would that have prevented a bank from writing a bad mortgage?
Be specific.

 

[Toddsterpatriot]

The U.S. Securities and Exchange Commission has separate definitions for broker and dealer, although the two terms are typically used synonymously. A broker is anyone who conducts securities transactions on behalf of others. A dealer buys and sells securities for their own account, through a broker or otherwise. Anyone can perform the activities of a broker or dealer so long as they comply with SEC regulations.

Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

What does that have to do with mortgage writing?

 

[Toddsterpatriot]

Now that I have PROVED my point without partisan sources what do you have to say?

You didn't post any proof the regulations would have prevented a single bad mortgage.
I say try again.

 

[Truthmatters]

how did the banks unload the shitty assed sub prime that would have backfired on them if they kept them?

 

[Truthmatters]

Every sane person who knows anything about this mess will tell you the banks sold off this crap by mixing it into sound securites packages.

Its a fucking fact

 

[Toddsterpatriot]

how did the banks unload the shitty assed sub prime that would have backfired on them if they kept them?

Many banks kept the shitty mortgages they wrote.

Some even bought the shitty mortgages other banks wrote.

 

[Truthmatters]

The U.S. Securities and Exchange Commission has separate definitions for broker and dealer, although the two terms are typically used synonymously. A broker is anyone who conducts securities transactions on behalf of others. A dealer buys and sells securities for their own account, through a broker or otherwise. Anyone can perform the activities of a broker or dealer so long as they comply with SEC regulations.

Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

What does that have to do with mortgage writing?

They would have had to keep the BAD LOANS on their books.

they would not have written them if they had to keep them.

How can you claim they would have?

 

[Toddsterpatriot]

Every sane person who knows anything about this mess will tell you the banks sold off this crap by mixing it into sound securites packages.

Its a fucking fact

What about the MBS created by non-banks?

What about the MBS created under Glass Steagall?

 

[Truthmatters]

how did the banks unload the shitty assed sub prime that would have backfired on them if they kept them?

Many banks kept the shitty mortgages they wrote.

Some even bought the shitty mortgages other banks wrote.

Prove your claim

 

[cawacko]

That took balls because the legislation that effectively neutralized it was the Republican introduced and passed Gramm-Leach-Bliley.

If Gramm Leach had not been passed, not one bank would have ever received a bailout. That doesn't mean we wouldn't have had any of our current problems but the fewer the better.
Now if the Repubs hadn't deregulated the banking industry and then securities industry, plus opened the loophole which allowed the credit-swaps instead of requiring Mortgage-Backed Securites to be eligible, we would have avoided the whole mess altogether. At least on the macro scale. There would still be thousands of adjustable, NINJA and 125% mortgages to deal with but that would be a small percantage of the debacle we're presently facing.

Oh and it wouldn't be a matter of reinstating Glass-Steagal, just repealing Gramm-Leach.

Out of curiousity, how did all those Republican Congressional bills become law?

Gramm SNUCK that bill in.....'cause he couldn't get it passed
ON IT'S OWN MERIT!!!!

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[ame=http://www.youtube.com/watch?v=rKKvMJeBBSA]Q&A: Leslie & Andrew Cockburn - YouTube[/ame]

SEE: 5:00 thru 12:00
​

How exactly did he sneak the bill in? Clinton had advisors who were pushing him to sign it so it's not like he didn't what the bill was about.

 

[Toddsterpatriot]

The U.S. Securities and Exchange Commission has separate definitions for broker and dealer, although the two terms are typically used synonymously. A broker is anyone who conducts securities transactions on behalf of others. A dealer buys and sells securities for their own account, through a broker or otherwise. Anyone can perform the activities of a broker or dealer so long as they comply with SEC regulations.

Read more: Rules for an SEC Broker Dealer | eHow.com Rules for an SEC Broker Dealer | eHow.com

What does that have to do with mortgage writing?

They would have had to keep the BAD LOANS on their books.

they would not have written them if they had to keep them.

How can you claim they would have?

How much has Citibank lost on bad mortgages?

What about B of A?

Or do you feel the banks haven't lost money on bad mortgages?