This is a great example of the dumbing-down of Americans.
I didn't think your post was that bad Damo.
Do all of you loser liberals turn into Desh?
how many times Have been proven right and you have been proven full of shit and lies?
there were no broker rules for years due to republican maneuvering of the GLBact.
what were you ever right about?
http://www.justplainpolitics.com/showthread.php?55485-Bill-Clinton-signed-the-bill
chew on this.
in interm rules were never applied asshole
super what rules were actually in place while they posted it for comment?
http://www.sec.gov/news/press/2004-73.htm
SEC Votes To Propose Provisions Implementing Gramm-Leach-Bliley Bank Broker Rules
FOR IMMEDIATE RELEASE
2004-73
Washington, D.C., June 2, 2004 - The Securities and Exchange Commission today voted to publish for comment proposed Regulation B. This new regulation is designed to implement provisions of the Gramm-Leach-Bliley Act of 1999 that delineate the securities activities banks may engage in without registering as brokers under the Securities Exchange Act of 1934.
Regulation B Proposals
The Gramm-Leach-Bliley Act (GLBA) replaced banks' complete exception from the definition of "broker" with eleven "functional exceptions." The Commission today voted to propose new rules to implement the GLBA definition by defining some of the statutory terms used in the eleven exceptions. It also proposed a number of new exemptions for some particular bank activities, under conditions that are consistent with investor protections. All of these provisions build off of rules the Commission adopted in 2001 (Interim Rules).
http://www.willkie.com/files/tbl_s29Publications/FileUpload5686/1890/Regulation_B.pdf
The six line into that tell you the interm rules were never allowed to impliment either.
The republicans made sure the banks had NO rules in acting as brokers.
they went to town making fucking money and FUCKED everyone else.
thank your republican party
"that delineate the securities activities banks may engage in without registering as brokers under the Securities Exchange Act of 1934."
and?