Why did the BUSH SEC hold back the broker rules?

[TNHarley]

How Wall Street Got Rich on Bum Mortgages, and Might Do It Again - CBS News

This would not have happened without deregulation, carter and fannie mae

 

[Truthmatters]

I just keep giving you people fact after fact that backs my theory.

you in the face of these facts just use the "your a poopy pants" defense

 

[Truthmatters]

How Wall Street Got Rich on Bum Mortgages, and Might Do It Again - CBS News

This would not have happened without deregulation, carter and fannie mae

Nope it was the killing of Glass steagal.

 

[TNHarley]

what party were the authors of the repeal of the Glass Steagal Act- Grahamm, Leach, & Bliley from? Take your time.

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

it was a bailout law for banks. Plain and simple

 

[saveliberty]

How Wall Street Got Rich on Bum Mortgages, and Might Do It Again - CBS News

From your source:

Whatever the outcome of the case, it's clear that derivatives sparked the 2008 financial collapse. The funny thing is that, except for the homeowners, everyone else got rich on the deal. The shorts made money, and so did the traders who sold and bought derivatives. Some of their companies collapsed (e.g., Lehman Brothers and AIG), but the perps kept their tens of millions and walked away.

Which is what I said, not you. You blamed the mortgages themselves. These are a different investment.

 

[Dubya]

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

 

[TNHarley]

How Wall Street Got Rich on Bum Mortgages, and Might Do It Again - CBS News

This would not have happened without deregulation, carter and fannie mae

Nope it was the killing of Glass steagal.

Oh dear god you are an idiot. What the fuck do you think GLBD was? Deregulation. How do you think the "bums" got to get mortgages? Carter and fannie mae

 

[Dubya]

Who pushed it? Rubin. Who did he work for? Clinton. Who signed it? CLinton. He loved the bill after Rubin put his spin on it. Weird how he ended up working for Citigroup right after... Hmmm
But I dont disagree. It was a bi-partisan effort to destroy the economy.

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

it was a bailout law for banks. Plain and simple

What the hell are you talking about? What is it?

 

[saveliberty]

Testimony -- Paulson

Paulson wanted self regulating banks.

he testified to it in 2000.

He didn't get self regulating banks.

 

[TNHarley]

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

I agree. GLBD should have never happened! thanks CLinton, Rubin and Gramm!

 

[Truthmatters]

The bank broker rules were held back for 8 long years though

 

[Truthmatters]

If they had been in palce the banks could have been prosicuted for cheating us

 

[saveliberty]

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

Thanks for proving what I just said about you dumbass.

 

[Redfish]

We have been down this path of thinking markets are so complicated they can take care of themselves and it's been a failure when we try it. That's why rules were made during the Great Depression and banks can be profitable following the rules. There isn't anything wrong with such regulation of the market place. Businesses are experts at working within the rules to make a profit. We don't need to keep trying things that haven't worked as if we are retarded and can't figure it out. You can't run a complex economy on a simple minded political ideology. Rules need to be designed in a pragmatic manner.

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

Geez, you and your brother TM have made complete fools of yourselves in this thread.

But thats OK, we know that everything that has ever gone wrong in the history of the USA was caused by Bush, we get it. He started the Chicago fire and the california earthquakes and forest fires, he caused Katrina and Sandy. He caused obama to increase the national debt more than all other presidents combined.

We get it-----Bush is the world's worst criminal, worse than Hitler, Lenin, Stalin, Mao, and Idi Amin combined.

Now, can we move on to the current POTUS and his destruction of our economy and our culture?

 

[Truthmatters]

The right gamed a duly passed law to get the banks what they wanted.

the country got screwed because if it

 

[Dubya]

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

I agree. GLBD should have never happened! thanks CLinton, Rubin and Gramm!

The problem involved more than GLBA.

 

[Truthmatters]

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

Geez, you and your brother TM have made complete fools of yourselves in this thread.

But thats OK, we know that everything that has ever gone wrong in the history of the USA was caused by Bush, we get it. He started the Chicago fire and the california earthquakes and forest fires, he caused Katrina and Sandy. He caused obama to increase the national debt more than all other presidents combined.

We get it-----Bush is the world's worst criminal, worse than Hitler, Lenin, Stalin, Mao, and Idi Amin combined.

Now, can we move on to the current POTUS and his destruction of our economy and our culture?

Prove with facts that I am wrong you childish troll

 

[saveliberty]

The bank broker rules were held back for 8 long years though

The problem was derivatives as your article states. All you have to do is link derivatives to the rules you are talking about and the case is made. Of course, derivatives didn't exist then, so you fail.

 

[Dubya]

We have also been down the path that markets ARE regulated. You act like none exist and that is incorrect. It is also a lie when you repeatedly use it.

Things like banks and insurance companies need regulation or someone will take off with the money.

When we had regulation we didn't have problems. The people who made those regulations looked at what caused the Great Depression and fixed it so we wouldn't have to go down that path again.

Geez, you and your brother TM have made complete fools of yourselves in this thread.

But thats OK, we know that everything that has ever gone wrong in the history of the USA was caused by Bush, we get it. He started the Chicago fire and the california earthquakes and forest fires, he caused Katrina and Sandy. He caused obama to increase the national debt more than all other presidents combined.

We get it-----Bush is the world's worst criminal, worse than Hitler, Lenin, Stalin, Mao, and Idi Amin combined.

Now, can we move on to the current POTUS and his destruction of our economy and our culture?

It's the SEC's job to regulated the bond market and they couldn't be doing their job properly if bonds were allowed to be sold with triple A ratings and then became junk bonds.

How can you ignore that reality?

 

[saveliberty]

QE will have far more reaching and long lasting effect on the economy. The left is in denial.