Newt says reinstate Glass Steagal

[Truthmatters]

Citi went crashing jsut a couple of months after they could not longer game the brokers huh?


They could not unload the trash they had written and had to keep it on the books

Why did they have to? What rule do you imagine forced them to keep it?

Why don't you post the exact rule? You're the expert after all.

DEAR fool I gave you the exact rules right from the SEC public realse.


READ MY SIG LINK

 

[Toddsterpatriot]

Citi went crashing jsut a couple of months after they could not longer game the brokers huh?


They could not unload the trash they had written and had to keep it on the books

Why did they have to? What rule do you imagine forced them to keep it?

Why don't you post the exact rule? You're the expert after all.

DEAR fool I gave you the exact rules right from the SEC public realse.


READ MY SIG LINK

None of the info at your link proves your claim.

 

[Toddsterpatriot]

Who sales mortgage backed securities?

Salesmen. So what?

Who sold the securities that cost CITI $18.1 billion, in a single quarter?

 

[Truthmatters]

salespeople who are Brokers.

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999.




It names the EXACT RULES YOU LIAR

 

[Truthmatters]

Who sales mortgage backed securities?

Salesmen. So what?

Who sold the securities that cost CITI $18.1 billion, in a single quarter?

the whole point is they could NO LONGER sell them because they had to have REAL liscened brokers starting in October of 2007.

They got stuck with them huh.

 

[Toddsterpatriot]

salespeople who are Brokers.

So what? The rules wouldn't stop Bear Stearns from selling mortgages and wouldn't prevent Citigroup from selling them either.

 

[Toddsterpatriot]

Who sales mortgage backed securities?

Salesmen. So what?

Who sold the securities that cost CITI $18.1 billion, in a single quarter?

the whole point is they could NO LONGER sell them because they had to have REAL liscened brokers starting in October of 2007.

They got stuck with them huh.

You keep claiming the new brokers couldn't sell them.

You keep failing to provide proof.

 

[Truthmatters]

They could sell them if they wanted to, once they had REAL licsened brokers working from them the Brokers would not risk their creditials by selling trash.


Poor Citi took it in the shorts because the new rules caught them with bad loans they could not dump.

 

[Toddsterpatriot]

They could sell them if they wanted to, once they had REAL licsened brokers working from them the Brokers would not risk their creditials by selling trash.


Poor Citi took it in the shorts because the new rules caught them with bad loans they could not dump.

Didn't Goldman Sachs get fined for "selling trash"?

 

[Toddsterpatriot]

They could sell them if they wanted to, once they had REAL licsened brokers working from them the Brokers would not risk their creditials by selling trash.


Poor Citi took it in the shorts because the new rules caught them with bad loans they could not dump.

Banks sold mortgages all the time, under Glass Steagall.

 

[Toddsterpatriot]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999.




It names the EXACT RULES YOU LIAR

Where is the exact rule that says banks can't write bad mortgages?

 

[Truthmatters]

Not sub prime filled hunks of shit doomed to fail huh?

 

[Truthmatters]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999.




It names the EXACT RULES YOU LIAR

Where is the exact rule that says banks can't write bad mortgages?

Where did I claim that?

 

[Truthmatters]

Jan 15 2008, 8:00AM

is the date of your article.

The laws on brokers were reinstated a few months earlier.

They then could no longer dump the shit bags into securities could they?

Prove the broker rules would have stopped banks from selling mortgages. Or writing them.

I never claimed it did

 

[Toddsterpatriot]

SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999.




It names the EXACT RULES YOU LIAR

Where is the exact rule that says banks can't write bad mortgages?

Where did I claim that?

Glass Steagall didn't prevent banks from writing, or selling, mortgages.

The new rules you whined about wouldn't have prevented banks from writing, or selling, mortgages.

I'm glad you agree.

 

[Truthmatters]

I never claimed it did you complete lying fool.


It did keep them from selling crap to unsupecting investors though which is what caused this mess.

 

[Toddsterpatriot]

Jan 15 2008, 8:00AM

is the date of your article.

The laws on brokers were reinstated a few months earlier.

They then could no longer dump the shit bags into securities could they?

Prove the broker rules would have stopped banks from selling mortgages. Or writing them.

I never claimed it did

http://www.usmessageboard.com/politics/193681-newt-says-reinstate-glass-steagal-10.html#post4421863

They would not have written them because they would not have been able to make money off them if they had to keep them

That was easy.

 

[FireFly]

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

Truthdosentmatter has always been a dishonest hack.

 

[Toddsterpatriot]

I never claimed it did you complete lying fool.


It did keep them from selling crap to unsupecting investors though which is what caused this mess.

Selling the crap didn't cause the crisis, writing the crap caused the crisis.