Forget Trump... what's the U.S. done to deserve Hillary?

S.E.C. Concedes Oversight Flaws Fueled Collapse


By STEPHEN LABATONSEPT. 26, 2008


WASHINGTON — The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.






The S.E.C.’s oversight responsibilities will largely shift to the Federal Reserve, though the commission will continue to oversee the brokerage units of investment banks.

Also Friday, the S.E.C.’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was “fundamentally flawed from the beginning.”


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“The last six months have made it abundantly clear that voluntary regulation does not work,” he said in a statement. The program “was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate” of the program, and “weakened its effectiveness,” he added.
 
evince said:
um no asshole


your shits ended glass steagal and refused to implement the bank broker rules in the law to replace it.


you are so stupid and dishonest you pretend it was implemented under Clinton and it wasn't huh you fucking liar
Click to expand...

Who signed the repeal of Glass Steagal?
 
evince said:
um no asshole


your shits ended glass steagal and refused to implement the bank broker rules in the law to replace it.


you are so stupid and dishonest you pretend it was implemented under Clinton and it wasn't huh you fucking liar
Click to expand...

This article would seem to refute your FACTS

http://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama

Is this source not acceptable to you? What would be? I even found pictures of Bill Clinton signing the repeal of Glass Steagall. Was it an imposter? Was he being held hostage?
 
evince said:
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. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
Click to expand...

this country passed a law


that law included NEW LAWS on bank broker actions



your evil shits only implimented the parts of that LAW their bank buddies LIKED
 
evince said:
Former President Jimmy Carter weighed in Tuesday on the recent verdict handed down in the trial of George Zimmerman, the Florida man who faced murder charges for the 2012 killing of unarmed teen Trayvon Martin. Speaking with Atlanta's WXIA, Carter said he believed the jury's decision to acquit Zimmerman was correct, in part because the prosecution had been overly ambitious.

"I think the jury made the right decision based in the evidence presented because the prosecution inadvertently set the standard so high that the jury had to be convinced that it was a deliberate act by Zimmerman and that he was not defending himself and so forth," he said. "It's not a moral question, it's a legal question and the American law requires that the jury listens to the evidence presented."
Click to expand...

Soooo, not a murder then, eh?
 
Zappocrite said:
This article would seem to refute your FACTS

http://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama

Is this source not acceptable to you? What would be? I even found pictures of Bill Clinton signing the repeal of Glass Steagall. Was it an imposter? Was he being held hostage?
Click to expand...





"A Financial Services Modernization Act was passed by Congress in 1999, giving retrospective clearance to the 1998 merger of Citigroup and Travelers Group and unleashing a wave of Wall Street consolidation that was later blamed for forcing taxpayers to spend billions bailing out the enlarged banks after the sub-prime mortgage crisis.

The White House papers show only limited discussion of the risks of such deregulation, but include a private note which reveals that details of a deal with Citigroup to clear its merger in advance of the legislation were deleted from official documents, for fear of it leaking out."




and the bailout NEVERwould have happened if the SEC under Cox and Bush would have been implemented the ENTIRE piece of legislation
 
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. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.

In addition, the Commission also voted to issue a second release concerning certain bank dealer activities and other related matters.









your shits gamed the system
 
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