APP - Ex-Citigroup chief says removing Glass-Steagal was wrong s

cawacko said:
LMAO... so true.

Come on Desh that was a poor hit n' run posting effort.
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what did you expect? She knows that she has nothing. There is NO excuse for them to not have done something. They have controlled Congress for 3 years and there hasn't been one attempt that I am aware of to bring back Glass Steagall. They have had super majority and a Dem President for 10 months now... and NOTHING.

This creates quite the pickle for poor Desh.
 
Superfreak said:
what did you expect? She knows that she has nothing. There is NO excuse for them to not have done something. They have controlled Congress for 3 years and there hasn't been one attempt that I am aware of to bring back Glass Steagall. They have had super majority and a Dem President for 10 months now... and NOTHING.

This creates quite the pickle for poor Desh.
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It also goes to show you the degree to wich our congress is owned by corporate interest.
 
http://rismedia.com/2004-01-09/latest-occ-regulations-on-predatory-lending-blasted-on-state-level/

Why is it you think only congressional dems count?

How in the hell were any congressional dems going to do anything anyway?

If you recall the R congress at the time had them pretty well shackled.

Go get a list of the laws that Dems were allowed to bring to the floor during that time.

Hell they would not even give them a room to investigate the voting computor fraud.

By the time they took office the lid had blown off and there were a few things on there plate like war and the economy in the dirt.

All 50 governors were pissed at this law and it was designed to KEEP the mess growing.

Now who backed this stripping of the states rights to protect themselves?
 
State officials say new regs will usurp their authority to enforce viable state laws
RISMEDIA, Jan. 9-A barrage of criticism is being sounded this week after a national bank regulator released new rules that state officials say will take away local authority to regulate predatory lending by national banks.

The clamor came after the Office of the Comptroller of the Currency (OCC) issued two rules this week. State Attorneys General say that one would broadly preempt all state laws against national banks, including predatory lending laws, leaving only narrow exceptions. And the other confers upon the OCC exclusive jurisdiction over national banks, and excludes state attorneys general from enforcing consumer protection laws against national banks.

Although predatory lending is not defined by federal law, and states define abusive lending differently, it usually involves practices that strip equity away from a homeowner.

New York State Attorney General Eliot Spitzer responded to the OCC with his own statement this week in which he said that the regulations are ?designed to protect national banks at the expense of consumers. ? With this action, the OCC is pursuing shamefully bad public policy.?



Read more: http://rismedia.com/2004-01-09/late...lending-blasted-on-state-level/#ixzz0YjjGSfP3
 
evince said:
http://rismedia.com/2004-01-09/latest-occ-regulations-on-predatory-lending-blasted-on-state-level/

Why is it you think only congressional dems count?

How in the hell were any congressional dems going to do anything anyway?

If you recall the R congress at the time had them pretty well shackled.

Go get a list of the laws that Dems were allowed to bring to the floor during that time.

Hell they would not even give them a room to investigate the voting computor fraud.

By the time they took office the lid had blown off and there were a few things on there plate like war and the economy in the dirt.

All 50 governors were pissed at this law and it was designed to KEEP the mess growing.

Now who backed this stripping of the states rights to protect themselves?
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I knew you could come up with an excuse. So in 2007 and 2008 the Republicans out of power kept the Democrats in Congress from reinstituting Glass-Steagall but in 1999 the Democrats out of power in Congress couldn't keep the Republicans from repealing it?

And now in 2009 with the Dems having total control that excuse doesn't work.

And you say the removal of Glass-Steagall led to this financial meltdown we have faced yet because the economy was bad the Democrats didn't have time to deal with Glass-Steagall? How does that make any sense Desh?

It reasons to me if Glass-Steagall helped cause this mess as you say it would be one of the first things Congress would want to go after.

And what do these articles you keep posting have to do with Glass-Steagall? Nothing that I see.
 
cawacko said:
I knew you could come up with an excuse. So in 2007 and 2008 the Republicans out of power kept the Democrats in Congress from reinstituting Glass-Steagall but in 1999 the Democrats out of power in Congress couldn't keep the Republicans from repealing it?

And now in 2009 with the Dems having total control that excuse doesn't work.

And you say the removal of Glass-Steagall led to this financial meltdown we have faced yet because the economy was bad the Democrats didn't have time to deal with Glass-Steagall? How does that make any sense Desh?
It had already exploded you fool. What year did they take the majority?
It reasons to me if Glass-Steagall helped cause this mess as you say it would be one of the first things Congress would want to go after.
Not when the damage was already done and you have a list as long as your arm of things that need fixing

And what do these articles you keep posting have to do with Glass-Steagall? Nothing that I see.
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They were the states trying to regulate their own states to keep them safe from the impact of having the law stricken down.

Go read them and realize that the Bush team saw them trying to protect themselves from the gap in laws and trying to write their own in each state, so he made it so their laws were preempted by the federal laws ( nearly non exsistant oversight of the industry).

There were many dems and even some Rs trying to fix this gap and they got fucked by the Rs and Bush
 
evince said:
They were the states trying to regulate their own states to keep them safe from the impact of having the law stricken down.

Go read them and realize that the Bush team saw them trying to protect themselves from the gap in laws and trying to write their own in each state, so he made it so their laws were preempted by the federal laws ( nearly non exsistant oversight of the industry).

There were many dems and even some Rs trying to fix this gap and they got fucked by the Rs and Bush
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Desh, I am well aware that the financial markets had imploded or were in the process of imploding in 2007 when the Democrats took over Congress. No one here has questioned that. The question you won't answer is why once they got power they wouldn't relook at Glass-Steagall? You say because there was too much to do? Well if you say Glass-Steagall was a huge reason for the financial implosioin wouldn't that be a good place for the Dems to start?

You keep going back to 2004. We are in 2009 now, almost 2010. The Dems have controlled Congress since 2007. What are they doing now? The voters put them in power what are they doing? What are they doing vis-a-vis Glass-Steagall? What other financial laws are more important then in your opinion that the Dems are focusing on or should be focusing on?
 
evince said:
http://rismedia.com/2004-01-09/latest-occ-regulations-on-predatory-lending-blasted-on-state-level/

Why is it you think only congressional dems count?
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Um... because you continually harp on the fact that the REP Congress didn't do anything. So we asked you WHY it is the DEM LED Congress hasn't done anything since taking power in 2007??????

evince said:
How in the hell were any congressional dems going to do anything anyway?
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A valid point. They are very ineffective whether they are in the minority, have a majority or now as we can see... even if they have a super majority. Point well taken. The Dems are ineffective leaders.

evince said:
If you recall the R congress at the time had them pretty well shackled.
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If you can READ... our question to you is not what they were able to do when in the minority... but what have they done once they got the MAJORITY (and subsequently a SUPER MAJORITY with a DEM PRESIDENT)????

evince said:
All 50 governors were pissed at this law and it was designed to KEEP the mess growing.
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Again... what have your precious Dems done to correct this now that they have had control of Congress for three years?? Or if you prefer... now that they have had control of Congress with super majorities AND a DEM President????

evince said:
Now who backed this stripping of the states rights to protect themselves?
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Both parties...which is precisely what we have been trying to get you to comprehend.
 
cawacko said:
Desh, I am well aware that the financial markets had imploded or were in the process of imploding in 2007 when the Democrats took over Congress. No one here has questioned that. The question you won't answer is why once they got power they wouldn't relook at Glass-Steagall? You say because there was too much to do? Well if you say Glass-Steagall was a huge reason for the financial implosioin wouldn't that be a good place for the Dems to start?

You keep going back to 2004. We are in 2009 now, almost 2010. The Dems have controlled Congress since 2007. What are they doing now? The voters put them in power what are they doing? What are they doing vis-a-vis Glass-Steagall? What other financial laws are more important then in your opinion that the Dems are focusing on or should be focusing on?
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What is truly funny is that it wouldn't take much effort at all to put it back in place.

The friggin ACT has already been written... over 70 years ago... just put it back in place and then the dismantling of JPM and Goldman et all can begin.
 
Superfreak said:
Um... because you continually harp on the fact that the REP Congress didn't do anything. So we asked you WHY it is the DEM LED Congress hasn't done anything since taking power in 2007??????

Like I have already said and you ignored , the damage had already been done by the time they took office. You cant just put it back 8 years later becuase you would have to dismantle the entire banking system first.

A valid point. They are very ineffective whether they are in the minority, have a majority or now as we can see... even if they have a super majority. Point well taken. The Dems are ineffective leaders.
Before the SHIT hit the fan the dems in congress had no fucking power to do anything



If you can READ... our question to you is not what they were able to do when in the minority... but what have they done once they got the MAJORITY (and subsequently a SUPER MAJORITY with a DEM PRESIDENT)????Agian I answered that one you asswink. You cant just reinstate it without completely dismantling the banking system that grew out of the GS not being in place anymore. The economy was still in a huge mess with the fallout still raining down arround us.



Again... what have your precious Dems done to correct this now that they have had control of Congress for three years?? Or if you prefer... now that they have had control of Congress with super majorities AND a DEM President????

They have been tryimg to repair the damage that GS removal caused so they can then reregulate the system.



Both parties...which is precisely what we have been trying to get you to comprehend.
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I have never claimed NO dem was involved, that came out of your brain all by its self.

Like I said earlier and you ignored , all govs tried to fix this mess woith state laws and were thwarted by Bush's admin. Some of those govs were Rs.

It is the R party and the cons who have always championed caplitalism unleashed. They still do.

That is why I blame them more.
 
evince said:
I have never claimed NO dem was involved, that came out of your brain all by its self.

Like I said earlier and you ignored , all govs tried to fix this mess woith state laws and were thwarted by Bush's admin. Some of those govs were Rs.

It is the R party and the cons who have always championed caplitalism unleashed. They still do.

That is why I blame them more.
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All of your comments in Red are simply bullshit. They CAN put Glass Steagall back in place. To pretend they cannot is ridiculous. Yes, it would mean the break up of the big banks.... NOT the entire banking system.

The re-implementation of GS, could include the time line the larger firms would have to spin off their retail banking divisions.

Bottom line is that your precious Dems have done NOTHING to re implement GS.

we did not 'miss' your attempt to steer the conversation away from the DEM LED CONGRESS to the governors Desh.... we pointed out that the Governors have NOTHING to do with the questions we asked you.

While the Reps do indeed champion capitalism, it is blatantly false to pretend they want to do so without regulations. The DEMS supported the Removal of Glass Steagall as did the Reps. All in the name of greater home ownership.

You blame the Reps more because you are a complete partisan hack.
 
Super if you put it back in place then all the banks are in violation of the law.

Youknow it and I know it.

You would then spend months dismatleing the banking system to make it comply with the laws.

get real
 
I blame the Rs because they are the ones who insist that unfettered capitslism is the answer.

They are the ones who always work to dismantle regulations and fight to keep regulations from being implemented.

You really think anything the dems did under Bush would not have been vetoed?

You just keep ignoring that the bomb had already exploded by the time they had any power.
 
evince said:
Super if you put it back in place then all the banks are in violation of the law.

Youknow it and I know it.

You would then spend months dismatleing the banking system to make it comply with the laws.

get real
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Listen Desh,

AS I STATED.... YOU CAN RE-IMPLMENT GLASS STEAGALL WITH A TIME LINE PROVISION FOR THE BIG BANKS TO SPIN OFF THEIR RETAIL BANKING SIDES.

You are also 100% WRONG in stating that ALL Banks would be in violation. That is quite frankly... BULLSHIT. YES, the large banks would need to break up, but they are ALREADY run as seperate divisions.

Pretending that you cannot do anything is simply a cop out perpetrated by a partisan hack. By your standards we would NEVER be able to put it back in place.

Also... who gives a shit if it would take months getting the system back to GS standards? THAT IS HOW YOU FIX IT.
 
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