badaxemoo
Well-known member
http://www.youtube.com/watch?v=7QDv4sYwjO0
Hey Libertarians! - Regulation Vacation Celebration!
- Thread starter badaxemoo
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A
Anonymous
Guest
:lol: :lol: Yep-- reminds me of when the USSR fell apart-- and the purest form of true capitalism we've seen in the 20th century in a major country took over, since there were no laws regulating anything...
Pretty soon the Russian Mafia controlled all food production and sales, oil and energy, etc. etc.-- and were raping and pillaging the consumers with highly inflated prices-- and the people were begging the new Russian government to reinstate many of the old laws from the communist regime-and put back regulation...
Somalia- another example of how a country can exist with true capitalism and no regulation or rule of law-- with the only law being the law of the biggest/fastest gun.....
Pretty soon the Russian Mafia controlled all food production and sales, oil and energy, etc. etc.-- and were raping and pillaging the consumers with highly inflated prices-- and the people were begging the new Russian government to reinstate many of the old laws from the communist regime-and put back regulation...
Somalia- another example of how a country can exist with true capitalism and no regulation or rule of law-- with the only law being the law of the biggest/fastest gun.....
Steve
Well-known member
Oldtimer said:
and many of the Russian people have moved past the stage when only the former KGB types had control and they were enjoying their capitalistic freedom... at least they were until recently, as the Russian government is using our economic crises as an excuse to slap tariffs and regulations on everything in an attempt to limit imports..
Sandhusker
Well-known member
Oldtimer said:
I don't think you know what capitalism is. "Capitalism" and "no laws" are not synonyms.
hypocritexposer
Well-known member
I'm not sure OT realizes who controlled the Russian mafias, either.
But it's a start OT. Think a little more about it, determine who controlled the mafias, how that relates to what's going on in the US, and you'll know how to request reinforcement of the old laws and regulations.
But it's a start OT. Think a little more about it, determine who controlled the mafias, how that relates to what's going on in the US, and you'll know how to request reinforcement of the old laws and regulations.
A
Anonymous
Guest
Sandhusker said:
Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
Mike
Well-known member
Oldtimer said:Sandhusker said:
Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
Throw out "ALL" the rules??
Another WHOPPER!!.................... :roll:
Canada changed the same rule Phil wanted to in 1983 with no problems yet!
I forgot!!! They don't have a Barney Frank and Chris Dodd watching the henhouse and keeping the foxes in do they?
Sandhusker
Well-known member
Oldtimer said:Sandhusker said:
Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
OT..... you've completely lost it.
Sandhusker said:Oldtimer said:Sandhusker said:
Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
OT..... you've completely lost it.
He lost it a LONG time ago!! Occasionally a very small spot of insight will appear in his horizon but it quickly disappears!
EH oldtimer?
We all know you will read this even though you claim not to read anything i post, but your EGO won't let you not read!!!!! :roll:
hopalong said:Sandhusker said:Oldtimer said:Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
OT..... you've completely lost it.
He lost it a LONG time ago!! Occasionally a very small spot of insight will appear in his horizon but it quickly disappears!
EH oldtimer?
We all know you will read this even though you claim not to read anything i post, but your EGO won't let you not read!!!!! :roll:
hopalong,you really need your azz kicked,as you are such a waste of skin....
A
Anonymous
Guest
Mike said:Oldtimer said:Sandhusker said:
Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
Throw out "ALL" the rules??
Another WHOPPER!!.................... :roll:
Canada changed the same rule Phil wanted to in 1983 with no problems yet!
I forgot!!! They don't have a Barney Frank and Chris Dodd watching the henhouse and keeping the foxes in do they?
So thats the reason in hearing after hearing the Bankers, Financial Experts, and Government Regulators- including some that were involved in getting the rules taken off, like Greenspan- have been appearing and telling the Congressmen they made a mistake by changing all these laws that were put in years ago to keep another Depression from happening- and they need the rules and laws put back on- along with additional ones-- and strongly enforced to prevent another Bush Bust from happening again... :???:
MsSage
Well-known member
Please do....
Those of us tinfoilwearing hat rightwing extremists are waiting on the first shot....When you start attack physically a person for their beliefs, is as good as any for a first shot.
OT~ Bush inherited that mess from Clinton. :roll:
Didnt your mamma tell you when you hate with all you are, it eats you alive? I feel sorry for you. Filled with such hate for another person.
hypocritexposer
Well-known member
Oh, you thought you were actually voting for CHANGE!
OT, next time, ask some questions, pin the guy down and make him accountable.
Look into his past, check for past associations, education, and what his truth actually is.
Don't believe in Change, Hope etc, unless the guy is able/willing to define what he means, and makes himself accountable.
And by all means, doubt the MSM. If they are hating the existing situation, but not questioning the new situation, you may be suspicious.
Have you ever acted on your suspicions before, and further investigated the facts?
Have you always relied on the MSM to solve the crimes in your county? What was it like solving crimes 4/8 years after they were committed, and blaming it on the last Sheriff?
Solve the excisting situation, cold cases are defined as such for a reason!
OT, next time, ask some questions, pin the guy down and make him accountable.
Look into his past, check for past associations, education, and what his truth actually is.
Don't believe in Change, Hope etc, unless the guy is able/willing to define what he means, and makes himself accountable.
And by all means, doubt the MSM. If they are hating the existing situation, but not questioning the new situation, you may be suspicious.
Have you ever acted on your suspicions before, and further investigated the facts?
Have you always relied on the MSM to solve the crimes in your county? What was it like solving crimes 4/8 years after they were committed, and blaming it on the last Sheriff?
Solve the excisting situation, cold cases are defined as such for a reason!
A
Anonymous
Guest
MsSage said:
So are you saying Bush just occupied the seat for 8 years... :???: Well you are about right- his failure to do nothing caused much of the mess... It happened on his watch- and with his failure to have any oversight or enforce even what laws were left- the whole mess was crumbling about him as he preached "the fundamentals of the economy are strong".... :roll:
And then he had to come crawling to the taxpayers to bail out his mess to keep the economy from coming to a total standstill...
But it was Foreclosure Phil- and Greenspan- and the Republican controlled Congress that led the charge to deregulate- and throw out these laws that were put in to prevent exactly what happened...
Sandhusker
Well-known member
Oldtimer said:Mike said:Oldtimer said:Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
Throw out "ALL" the rules??
Another WHOPPER!!.................... :roll:
Canada changed the same rule Phil wanted to in 1983 with no problems yet!
I forgot!!! They don't have a Barney Frank and Chris Dodd watching the henhouse and keeping the foxes in do they?
So thats the reason in hearing after hearing the Bankers, Financial Experts, and Government Regulators- including some that were involved in getting the rules taken off, like Greenspan- have been appearing and telling the Congressmen they made a mistake by changing all these laws that were put in years ago to keep another Depression from happening- and they need the rules and laws put back on- along with additional ones-- and strongly enforced to prevent another Bush Bust from happening again... :???:
Bringing forward a number of people who admitted they made mistakes in deregulating isn't consistent with your past statements blaming Bush or Gramm. Do you realize that you just proved yourself wrong?
Sandhusker
Well-known member
Who signed Glass-Steagal, OT?
A
Anonymous
Guest
Sandhusker said:
Hoover
Sandhusker
Well-known member
Depression-Era Rules Undone
Clinton Signs Legislation Overhauling Banking Laws
WASHINGTON, Nov. 12 (Reuters) - President Clinton signed into law today a sweeping overhaul of Depression-era banking laws. The measure lifts barriers in the industry and allows banks, securities firms and insurance companies to merge and sell each other's products.
"This legislation is truly historic," President Clinton told a packed audience of lawmakers and top financial regulators. "We have done right by the American people."
The bill repeals parts of the 1933 Glass-Steagall Act and the 1956 Bank Holding Company Act to level the domestic playing field for United States financial companies and allow them to compete better in the evolving global financial marketplace.
Analysts and industry leaders say the measure will probably fuel a wave of mergers as companies compete to build financial supermarkets offering all the services customers need under one roof.
Financial stocks were winners on Wall Street today, with J.P. Morgan & Company, Citigroup, American Express and Merrill Lynch all posting big gains. That helped the Dow Jones industrial average end up 174.02 points, at 10,769.32.
The Senate approved the final bill by 90 to 8 on Nov. 4 and the House followed suit by a vote of 362 to 57. Congress had previously made almost a dozen unsuccessful attempts over the last 25 years to revise the statutes, which had increasingly come to be viewed as anachronisms.
"The world changes, and Congress and the laws have to change with it," said Senator Phil Gramm of Texas, chairman of the Banking Committee and one of the bill's prime sponsors.
Supporters of the legislation say it will also benefit consumers, providing them with greater choice and convenience and spurring competition that will lead to lower prices.
"With this bill," Treasury Secretary Lawrence H. Summers said, "the American financial system takes a major step forward toward the 21st Century — one that will benefit American consumers, business and the national economy." Opponents said it would have the opposite effect, creating behemoths that will raise fees, violate customers' privacy by sharing and selling their personal data, and put the stability of the financial system at risk.
The privacy issue was a key focus in the long and often heated negotiations that produced a compromise bill, and President Clinton made clear he still wanted to see more done to safeguard consumers' personal financial information.
President Clinton said the Treasury and White House would put together a legislative proposal to take to Congress next year that would extend the privacy provisions of the legislation.
This is just one of the several things that Mr. Clinton did which led to the current financial mess we enjoy today.
And mind you, the Democrats are now trying to tie this act around the necks of the Republicans.
Never mind that the Senate approved the final bill by 90 to 8. Or the House did the same by a vote of 362 to 57. Or that Bill Clinton crowed:
"This legislation is truly historic. We have done right by the American people."
Some how, some way a Republican must be found to take the blame.
Clinton Signs Legislation Overhauling Banking Laws
WASHINGTON, Nov. 12 (Reuters) - President Clinton signed into law today a sweeping overhaul of Depression-era banking laws. The measure lifts barriers in the industry and allows banks, securities firms and insurance companies to merge and sell each other's products.
"This legislation is truly historic," President Clinton told a packed audience of lawmakers and top financial regulators. "We have done right by the American people."
The bill repeals parts of the 1933 Glass-Steagall Act and the 1956 Bank Holding Company Act to level the domestic playing field for United States financial companies and allow them to compete better in the evolving global financial marketplace.
Analysts and industry leaders say the measure will probably fuel a wave of mergers as companies compete to build financial supermarkets offering all the services customers need under one roof.
Financial stocks were winners on Wall Street today, with J.P. Morgan & Company, Citigroup, American Express and Merrill Lynch all posting big gains. That helped the Dow Jones industrial average end up 174.02 points, at 10,769.32.
The Senate approved the final bill by 90 to 8 on Nov. 4 and the House followed suit by a vote of 362 to 57. Congress had previously made almost a dozen unsuccessful attempts over the last 25 years to revise the statutes, which had increasingly come to be viewed as anachronisms.
"The world changes, and Congress and the laws have to change with it," said Senator Phil Gramm of Texas, chairman of the Banking Committee and one of the bill's prime sponsors.
Supporters of the legislation say it will also benefit consumers, providing them with greater choice and convenience and spurring competition that will lead to lower prices.
"With this bill," Treasury Secretary Lawrence H. Summers said, "the American financial system takes a major step forward toward the 21st Century — one that will benefit American consumers, business and the national economy." Opponents said it would have the opposite effect, creating behemoths that will raise fees, violate customers' privacy by sharing and selling their personal data, and put the stability of the financial system at risk.
The privacy issue was a key focus in the long and often heated negotiations that produced a compromise bill, and President Clinton made clear he still wanted to see more done to safeguard consumers' personal financial information.
President Clinton said the Treasury and White House would put together a legislative proposal to take to Congress next year that would extend the privacy provisions of the legislation.
This is just one of the several things that Mr. Clinton did which led to the current financial mess we enjoy today.
And mind you, the Democrats are now trying to tie this act around the necks of the Republicans.
Never mind that the Senate approved the final bill by 90 to 8. Or the House did the same by a vote of 362 to 57. Or that Bill Clinton crowed:
"This legislation is truly historic. We have done right by the American people."
Some how, some way a Republican must be found to take the blame.
A
Anonymous
Guest
That was the Gramm-Leach-Bliley Act- that did away with Glass-Steagall that was first passed during Hoover- and later expanded under FDR...
And it was that Gramm-Leach-Bliley Act and the Commodity Futures Modernization Act of 2000, that changed the banking, investment, and trading world into an industry equivalent to casino gambling which along with GW who did no oversight or even enforce the laws still on the books for 8 years allowed the financial world to throw out all ethics and responsibility for greed- and that as the country tumbled around him couldn't even see it was happening....
Then had to come crawling to the taxpayer to bail out his incompetence...
Remember how many years I told you what was going to happen... :???: And you rightwingers all chastised me and backslapped GW all the way to the economic meltdown doors....
And sadly I got to say I TOLD YOU SO....
And now the majority of the financial world is saying bring back Glass-Steagall- and put more regulation on us- because we/the business/financial world don't have the moral and ethical responsibilty to police ourselves-- and they are needed to prevent another Bush Bust....
And it was that Gramm-Leach-Bliley Act and the Commodity Futures Modernization Act of 2000, that changed the banking, investment, and trading world into an industry equivalent to casino gambling which along with GW who did no oversight or even enforce the laws still on the books for 8 years allowed the financial world to throw out all ethics and responsibility for greed- and that as the country tumbled around him couldn't even see it was happening....
Then had to come crawling to the taxpayer to bail out his incompetence...
Remember how many years I told you what was going to happen... :???: And you rightwingers all chastised me and backslapped GW all the way to the economic meltdown doors....
And sadly I got to say I TOLD YOU SO....
And now the majority of the financial world is saying bring back Glass-Steagall- and put more regulation on us- because we/the business/financial world don't have the moral and ethical responsibilty to police ourselves-- and they are needed to prevent another Bush Bust....
aplusmnt
Well-known member
Oldtimer said:Its different than your Foreclosure Phils leading the charge to throw out of all rules and regulations to allow his Banker/Investor/Insurance/Rich Buddies to rape and pillage the US economy - while his bank aids and abets their hiding their assets so they don't have to pay US taxes on their plunder... :???:
Why if it was so bad did the Democrats pass it after they got to tweak it the way they wanted in committee, remember it passed with bipartisan support. Actually does anyone know if the bad stuff was in the original or did the democrats put it in during committee to work out the two versions from Senate and House.
And if it was so bad why did Bill Clinton sign it?
And more importantly if it was so bad why has the Democrats not been trying to go back to the Glass Steagall act?
Democrats are God now, if they want to solve all this all they have to do is repeal Phil's act and go back to Glass Steagall. Break up the banks, make them break into investment and commercial banks, then the bad part can fail with out bringing down the parts we need.
Rather for-closer Phil was the blame or not, WHY ARE THE DEMOCRATS NOT FIXING IT BACK LIKE IT WAS?
I will tell you why! They do not want to fix it, they want to control the banks and by keeping them to big to fail they can take them over. If they break up the banks and let the investment parts fail and let the commercial part prosper they will not be able to socialize them!!!!!!!!!