This entire “Bill” is a complete sham. It does absolutely nothing to regulate Wall Street. It was written by lobbyists for Goldman Sachs and the rest of the Wall Street crooks. It does not restore Glass-Steagall, it does not stop commercial from becoming investment banks, it does not prevent banks from becoming “too big to fail”, it does not repeal the Graham-Leach-Bliley Act (that allowed banks to become casinos that lost big and put the tab on the taxpayers), it does not repeal the Interstate Banking bill of 1994 that prevented banks from operating branches across the nation.
In short it does NOTHING!!! It is a political stunt, used to lull the public into thinking that Congress and the rest of the clowns are actually doing something against the criminals and financial terrorists on Wall Street.
This is what we should be talking about but no. I guess money and financials are just too boring. Let’s just let Wall Street destroy the nation. Americans would rather sit on their asses and read about Lindsay Lohan and how she is going to jail.
Well, it does a little more than nothing, namely, it gives a substantial amount of power to the existing regulatory bodies (which actually might be a problem). It does, however, do one good thing which is to increase the capital reserve requirements on banks.
[quote]thefederalist wrote:
It does, however, do one good thing which is to increase the capital reserve requirements on banks.[/quote]
Isn’t that supposed to be controlled by the “independent” federal reserve?
[quote]John S. wrote:
[quote]thefederalist wrote:
It does, however, do one good thing which is to increase the capital reserve requirements on banks.[/quote]
Isn’t that supposed to be controlled by the “independent” federal reserve?[/quote]
It always has been, but requiring it rather than leaving it at the discretion of the Fed is something altogether different.
[quote]Charlemagne wrote:
This entire “Bill” is a complete sham. It does absolutely nothing to regulate Wall Street. It was written by lobbyists for Goldman Sachs and the rest of the Wall Street crooks. It does not restore Glass-Steagall, it does not stop commercial from becoming investment banks, it does not prevent banks from becoming “too big to fail”, it does not repeal the Graham-Leach-Bliley Act (that allowed banks to become casinos that lost big and put the tab on the taxpayers), it does not repeal the Interstate Banking bill of 1994 that prevented banks from operating branches across the nation.
In short it does NOTHING!!! It is a political stunt, used to lull the public into thinking that Congress and the rest of the clowns are actually doing something against the criminals and financial terrorists on Wall Street.
This is what we should be talking about but no. I guess money and financials are just too boring. Let’s just let Wall Street destroy the nation. Americans would rather sit on their asses and read about Lindsay Lohan and how she is going to jail. [/quote]
Charlemagne you sound like a Republican. I agree this bill is so watered down what is the point of having it. Political win for the Dems, but not enough to change the tide of the country.
you guys do know that the gov’t serves itself and not the people its supposed to be made up of right?
[quote]thefederalist wrote:
[quote]John S. wrote:
[quote]thefederalist wrote:
It does, however, do one good thing which is to increase the capital reserve requirements on banks.[/quote]
Isn’t that supposed to be controlled by the “independent” federal reserve?[/quote]
It always has been, but requiring it rather than leaving it at the discretion of the Fed is something altogether different. [/quote]
Wouldn’t boosting the capital reserve requirements just mean that the banks are going to “borrow” more money from the feds? Not sure how this fixes anything.
[quote]admbaum wrote:
you guys do know that the gov’t serves itself and not the people its supposed to be made up of right? [/quote]
[quote]dmaddox wrote:
[quote]Charlemagne wrote:
This entire “Bill” is a complete sham. It does absolutely nothing to regulate Wall Street. It was written by lobbyists for Goldman Sachs and the rest of the Wall Street crooks. It does not restore Glass-Steagall, it does not stop commercial from becoming investment banks, it does not prevent banks from becoming “too big to fail”, it does not repeal the Graham-Leach-Bliley Act (that allowed banks to become casinos that lost big and put the tab on the taxpayers), it does not repeal the Interstate Banking bill of 1994 that prevented banks from operating branches across the nation.
In short it does NOTHING!!! It is a political stunt, used to lull the public into thinking that Congress and the rest of the clowns are actually doing something against the criminals and financial terrorists on Wall Street.
This is what we should be talking about but no. I guess money and financials are just too boring. Let’s just let Wall Street destroy the nation. Americans would rather sit on their asses and read about Lindsay Lohan and how she is going to jail. [/quote]
Charlemagne you sound like a Republican. I agree this bill is so watered down what is the point of having it. Political win for the Dems, but not enough to change the tide of the country.[/quote]
I’m not a Republican or a Democrat. Both of those parties have been bought and paid for. What we have in this country is essentially a two-headed one party system. There really is no fundamental difference between either party.
- They are both for more war
- They are both for increasing the debt
- They are both for continuing the War on Drugs and Terror
- They are both for complete and utter U.S. support for Israel, regardless of the effect it will have on America. (thank you AIPAC!)
- They are both for immigration reform (amnesty)
- They are both for giving more power to the Federal Reserve
- They are both for continuing to grow government
- They are both for bailing out the “Too big to fails”
- They are both for continuing to dismantle what little industry we have left and send overseas
- They are both for warrantless searches and wire taps
- They are both for continuing the Patriot Act
and on and on and on…
I look at things for the way they are and try to make up my mind when I have all the facts. Anybody that makes up their mind about an issue just because it is the party line is a fucking idiot.
[quote]Charlemagne wrote:
[quote]dmaddox wrote:
[quote]Charlemagne wrote:
This entire “Bill” is a complete sham. It does absolutely nothing to regulate Wall Street. It was written by lobbyists for Goldman Sachs and the rest of the Wall Street crooks. It does not restore Glass-Steagall, it does not stop commercial from becoming investment banks, it does not prevent banks from becoming “too big to fail”, it does not repeal the Graham-Leach-Bliley Act (that allowed banks to become casinos that lost big and put the tab on the taxpayers), it does not repeal the Interstate Banking bill of 1994 that prevented banks from operating branches across the nation.
In short it does NOTHING!!! It is a political stunt, used to lull the public into thinking that Congress and the rest of the clowns are actually doing something against the criminals and financial terrorists on Wall Street.
This is what we should be talking about but no. I guess money and financials are just too boring. Let’s just let Wall Street destroy the nation. Americans would rather sit on their asses and read about Lindsay Lohan and how she is going to jail. [/quote]
Charlemagne you sound like a Republican. I agree this bill is so watered down what is the point of having it. Political win for the Dems, but not enough to change the tide of the country.[/quote]
I’m not a Republican or a Democrat. Both of those parties have been bought and paid for. What we have in this country is essentially a two-headed one party system. There really is no fundamental difference between either party.
- They are both for more war
- They are both for increasing the debt
- They are both for continuing the War on Drugs and Terror
- They are both for complete and utter U.S. support for Israel, regardless of the effect it will have on America. (thank you AIPAC!)
- They are both for immigration reform (amnesty)
- They are both for giving more power to the Federal Reserve
- They are both for continuing to grow government
- They are both for bailing out the “Too big to fails”
- They are both for continuing to dismantle what little industry we have left and send overseas
- They are both for warrantless searches and wire taps
- They are both for continuing the Patriot Act
and on and on and on…
I look at things for the way they are and try to make up my mind when I have all the facts. Anybody that makes up their mind about an issue just because it is the party line is a fucking idiot.[/quote]
Agreed. Knowing that you were neither, but reading the Original Post, you sounded as if you were a Republican for a moment.