Outstanding Article

[apple0154]

First off most banks have repaid the money. Secondly the banks made money for 60 years before Glass-Steagal was revoked. The argument that it would prevent them from making money doesn't fly.

Third this goes to your whole point about leadership. There are always going to be people bitching when something changes or gets done. If it's the right thing to do shouldn't by your standards Obama be out there championing it? This is where your partisanship is coming in because you want to give him a pass whereas you are blaming Bush for essentially the same thing.

Can we not give Obama a chance to get things back on track first?

We know the banks made money before but we also know how the opposition turns everything into a Socialist conspiracy. And then there's the "let's get it right this time" crowd who will try to obstruct any deal.

Year One. Medical.

Obama has a few more years to go. Apparently he doesn't like to scatter his forces.

I judge Bush on eight years in office. I'm hard pressed to think of what he got right.

 

[Cancel 2016.2]

Really, they're being discussed now? I'm not heard Pelosi, Reid or Obama mention Glass-Steagal once. Care to show me where they're being "worked on"?

And I agree people should be held accountable even once out of office because decisions they make in office for better or worse often don't show up right away in the results column. A perfect example of that is Glass-Steagal which you say lead to the meltdown was signed in '99 but its true effects weren't felt until later.

If you had any principle you would say Bush failed to put back Glass-Steagal in place as have the leaders of Congress over the past three years and our new President. Instead you pass off excuses for why our current leaders can't do anything about it.

Pelosi and Reid have discussed it.... I do believe it was 'Kill McCain's bill to return Glass Steagall'

 

[Sammy Jankis]

Can we not give Obama a chance to get things back on track first?

We know the banks made money before but we also know how the opposition turns everything into a Socialist conspiracy. And then there's the "let's get it right this time" crowd who will try to obstruct any deal.

Year One. Medical.

Obama has a few more years to go. Apparently he doesn't like to scatter his forces.

I judge Bush on eight years in office. I'm hard pressed to think of what he got right.

lol. How easily you embrace fascism and idiotic business practices when it's your guy in office.

Don't do glass steagall because of what republicans will say? That's courage, your fucking twit.

 

[Cancel 2016.2]

Riiiiight. I'm sure all those nice Congress folks would jump in with their usual bipartisan conviviality and pass it in a couple of days.

The more likely picture would be screams of socialism and taking over the monetary system and comparing it to the health plan and how Obama is going to take care of your personal banking.

If they could conjure up death panels when discussing the health plan I'm sure some clown will say the government plans on sending every household a budget sheet to be filled out and submitted.

I did not say they WOULD apple... I said they COULD.

The last two paragraphs have absolutely nothing to do with Glass Steagall.

 

[Cancel 2016.2]

In 1998 Long Term Capital Managment failed spectactorially (sp). Right then showed how intertwining (sp) derivitives had become in our economy when all the big investment banks had to be called together to attempt a bail out. LTCM also had crazy leverage. These are the same problems we saw in the financial meltdown of '07. Because you like to compartimentalize economic acitivity Bush inherited that crap along with Glass-Steagal then 9/11 attacks and the Fed who practically gave away money. Oh the poor guy. He need more time.

What the big banks learned from LTCM is that 'they wanted to do it too'.... because they 'knew money could be made and they were obviously a lot smarter than those little people at LTCM'... A year later... Glass Steagall disappears.... along with the firewalls that separated the commercial/retail lending banks from the investment banks.... and thus the crisis began.

 

[apple0154]

The point was in 2005, not when the legislation was passed. I already posted the numbers of it passing which were huge. apple's argument is that it should have been reintroduced by Bush in 2005. I said there wasn't anyone in 2005 who was calling for it to be put back into place. And now apple wants to claim it can't be put back into place in 2009. Makes no sense.

I'm saying Bush should have warned the people something negative was going to happen if changes were not made. Motivate the people to get their members of Congress to examine things. That's all.

Bring attention to it like he did with the war. The average person didn't know about the impending crisis and those in Congress were not going to go looking for a problem.

As leader Bush either knew or should have known the situation.

As for putting it back in place I already told you the problem. The Socialist conspiracy is still fresh from the health plan. The opposition is just waiting for anything they can put the Socialist stamp on and what better than the monetary system, whether logical or not?

 

[apple0154]

lol. How easily you embrace fascism and idiotic business practices when it's your guy in office.

Don't do glass steagall because of what republicans will say? That's courage, your fucking twit.

Unfortunately, there are more than a few people with tiny brains such as yourself. They would listen to the Socialist propaganda just as they listened to the death panel nonsense.

But worry not. Obama will change things, one thing at a time. It will be a different world when he leaves office.

 

[Mott the Hoople]

Can we not give Obama a chance to get things back on track first?

We know the banks made money before but we also know how the opposition turns everything into a Socialist conspiracy. And then there's the "let's get it right this time" crowd who will try to obstruct any deal.

Year One. Medical.

Obama has a few more years to go. Apparently he doesn't like to scatter his forces.

I judge Bush on eight years in office. I'm hard pressed to think of what he got right.

Mountain Biking. He gave up running due to knee problems when he took office and took up mountain biking and did not do one single face plant in 8 years. Garald Ford would be jealous.

 

[Cancel 2016.2]

Particularly if you slipped the entire Senate a mickey....those miserable pricks.

If we slipped them a mickey (or ten) we could then get this country back on track while those unbelievable morons were drooling all over each other.... plus we could make certain they awoke on a deserted island with a year's supply of food. We could leave a note with something like....

'thanks for all your hard work you miserable pricks. You did a great job screwing up our country and as a reward you get to spend the rest of your lives on this wonderful island. There is only enough food to sustain the group for one year. So if you wish to live longer than that, you will have to thin the herd a bit.

Have fun and enjoy the beautiful weather.

p.s. The island you are on was chosen for it's uncanny ability to get hit by hurricanes.... which is why no one lives here.

 

[Sammy Jankis]

Unfortunately, there are more than a few people with tiny brains such as yourself. They would listen to the Socialist propaganda just as they listened to the death panel nonsense.

But worry not. Obama will change things, one thing at a time. It will be a different world when he leaves office.

Death panels was just a way of referring to rationing, which we know will occur because science has already been corrupted by politics, as evidenced by the mysterious reduction in mammograms recommended.

We don't want obama's nihilist fascism.

 

[Cancel 2016.2]

I'm saying Bush should have warned the people something negative was going to happen if changes were not made. Motivate the people to get their members of Congress to examine things. That's all.

Bring attention to it like he did with the war. The average person didn't know about the impending crisis and those in Congress were not going to go looking for a problem.

As leader Bush either knew or should have known the situation.

As for putting it back in place I already told you the problem. The Socialist conspiracy is still fresh from the health plan. The opposition is just waiting for anything they can put the Socialist stamp on and what better than the monetary system, whether logical or not?

1) I seriously doubt very many of the idiots in DC in either party understood the ramifications of removing Glass Steagall. Nor are politicians likely to listen to warnings when there is little visible evidence of the oncoming blow up.

2) Out of all the idiots in DC at the time... I would put Bush in the bottom 10% in terms of 'likely to comprehend the problem'. Especially in 2005. Even in 2007 when the pending implosion stared showing its big evil grin... even THEN... very few could comprehend what was coming. DESPITE the warning bells ringing ever so loudly.

3) There is NOTHING socialist about breaking up the banks. Nothing. That is an absurd argument. The government would not be taking over the banking system and redistributing wealth. They would simply re-institute the firewalls that were put in place after the banking debacle of the late 20's early 30's. those firewalls were designed to prevent this EXACT scenario from occurring.

 

[cancel2 2022]

1) I seriously doubt any of the idiots in DC in either party understood the ramifications of removing Glass Steagall. Nor are politicians likely to listen to warnings when there is little visible evidence of the oncoming blow up.

2) Out of all the idiots in DC at the time... I would put Bush in the bottom 10% in terms of 'likely to comprehend the problem'. Especially in 2005. Even in 2007 when the pending implosion stared showing its big evil grin... even THEN... very few could comprehend what was coming. DESPITE the warning bells ringing ever so loudly.

3) There is NOTHING socialist about breaking up the banks. Nothing. That is an absurd argument. The government would not be taking over the banking system and redistributing wealth. They would simply re-institute the firewalls that were put in place after the banking debacle of the late 20's early 30's. those firewalls were designed to prevent this EXACT scenario from occurring.

Well at least one of the idiots understood the problem in 1999.

http://videocafe.crooksandliars.com...w-show-somebody-saw-it-coming#comment-1069025

 

[Cancel 2016.2]

Well at least one of the idiots understood the problem in 1999.

http://videocafe.crooksandliars.com...w-show-somebody-saw-it-coming#comment-1069025

I should not have said 'any'... I edited my post to reflect that.

 

[cawacko]

Can we not give Obama a chance to get things back on track first?

We know the banks made money before but we also know how the opposition turns everything into a Socialist conspiracy. And then there's the "let's get it right this time" crowd who will try to obstruct any deal.

Year One. Medical.

Obama has a few more years to go. Apparently he doesn't like to scatter his forces.

I judge Bush on eight years in office. I'm hard pressed to think of what he got right.

Fair enough. I thought you were making a principled rant not a partisan one. I was wrong.

 

[cawacko]

1)3) There is NOTHING socialist about breaking up the banks. Nothing. That is an absurd argument. The government would not be taking over the banking system and redistributing wealth. They would simply re-institute the firewalls that were put in place after the banking debacle of the late 20's early 30's. those firewalls were designed to prevent this EXACT scenario from occurring.

Apple we just went through 150 posts of you saying Bush wasn't a leader (which I agree with btw saying I didn't think he was a good leader) and now here you are saying Obama can't be a leader because there's opposition and that's ok with you?

And as SF says above there's nothing socialist about Glass-Steagal, that's just a piss poor excuse.

 

[Sammy Jankis]

glass steagal is just sound and responsible. It should be reinstated. Banks should not be allowed to put peoples homes on the crap table.

 

[Cancel 2016.2]

glass steagal is just sound and responsible. It should be reinstated. Banks should not be allowed to put peoples homes on the crap table.

The lil devil on my left shoulder keeps telling me we should all just stop paying our mortgages until the banks can prove they still hold them.

With so many mortgages tied up in a myriad of CDO's, we should FORCE them to clean up the mess.

Again, that is just the lil devil talking...

If we truly attempted this, the financial market really would implode. Which is all the more reason we need to put Glass Steagall back in place. In addition, we should force these banks to clean up the CDO market. Untangle the web they wove. For every quarter that it remains unresolved, they pay a 10% penalty on all CDO assets they hold for themselves or for clients.

 

[apple0154]

Apple we just went through 150 posts of you saying Bush wasn't a leader (which I agree with btw saying I didn't think he was a good leader) and now here you are saying Obama can't be a leader because there's opposition and that's ok with you?

And as SF says above there's nothing socialist about Glass-Steagal, that's just a piss poor excuse.

I know there's nothing socialist about Glass-Steagal but I also know there would be screams of Socialism if he mentioned any changes to the financial rules at this time.

Health care is coming along well. I'd rather see one thing get done at a time rather than having him taking on a number of things and nothing getting done.

 

[cawacko]

I know there's nothing socialist about Glass-Steagal but I also know there would be screams of Socialism if he mentioned any changes to the financial rules at this time.

Health care is coming along well. I'd rather see one thing get done at a time rather than having him taking on a number of things and nothing getting done.

So Obama's not a good leader is what you are saying. No President ever has 100% support of the people. There are always going to be partisans against what they want to do. But if you say Obama has the inability to tell America the removal of Glass-Steagal caused the financial meltdown and needs to be put back in place and you are a big supporter of his that doesn't speak very highly of him. When your own supporters don't have faith in you you chances of success are rather slim.

 

[apple0154]

So Obama's not a good leader is what you are saying. No President ever has 100% support of the people. There are always going to be partisans against what they want to do. But if you say Obama has the inability to tell America the removal of Glass-Steagal caused the financial meltdown and needs to be put back in place and you are a big supporter of his that doesn't speak very highly of him. When your own supporters don't have faith in you you chances of success are rather slim.

I don't know how you could interpret what I said that way.

Obama does not want people to be distracted from the health plan. One thing at a time.