Democrats on board to roll back banking regulations- again

ttystikk

Well-Known Member
https://www.nakedcapitalism.com/201...ocrats-helping-gut-financial-regulations.html

This banking deregulation bill would roll back the already weak and ineffective provisions of Dodd-Frank, clearing way for banks to do all the same things that caused the 2008 financial crash. Because what could go wrong?!

These Democrats; In addition to Sen. Angus King (I-Maine), the 12 Democratic senators currently co-sponsoring the deregulation measure are: Doug Jones (Ala.), Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.), Mark Warner (Va.), Claire McCaskill (Mo.), Joe Manchin (W.Va.), Tim Kaine (Va.), Gary Peters (Mich.), Michael Bennet (Colo.), Chris Coons (Del.), and Tom Carper of Delaware.

"Banks have not been suffering in terms of profits, so exactly what is the problem that needs to be solved? And that’s before you get to the fact that banks enjoy such extensive subsidies that they should not be treated like private businesses but regulated like old-fashioned utilities. The idea that banks have a right to earn more that a modest level of profit to help fund expansion in line with overall economic growth is in fact detrimental to the economy."

This is corruption, pure and simple. The banks are engaging in extractive and parasitic behavior because their money buys our political system. The notion that somehow 'Democrats are different' is a lie manufactured to distract the uneducated lay person into thinking our political system offers a choice when in fact it does not.

@UncleBuck you'll notice our own US Senator Micheal Bennett (D-Colorado) is on that list.

The idea that the American People are effectively represented by a democracy is simply not supported by the facts. When big money can buy legislation from politicians in both parties that puts the entire economy at risk for the profit of a few, it's kleptocracy, not democracy.

When people who protest are ridiculed by Media that are owned by the same tiny elite- who then cheer when police use blatantly unconstitutional tactics to 'clear the streets' and 'keep the peace', we do not have democracy, we have Inverted Totalitarianism.

I'm going to caucus tonight. I'm going to do my part to advance Progressive causes and candidates, such as ending legalised bribery in our political system and regulating an outrageously predatory banning system. But I'm just one guy.

This affects all of you, too; each economic crash raids your future and that if your children and even when times are good the banks extract so much excess profit the rest of the economy suffers. Just because you may not understand exactly how it works doesn't mean it isn't happening.

The clowns will be along here shortly with their usual puerile remarks that intend to insult me, the messenger. Ignore them. Do your own homework. Neither Republicans nor Democrats are here to represent interests of the 99% of us. They only care about the money they need to get reelected. The two major parties in America may call themselves different, but in deeds and actions there is no real distinction.
 
...our political system offers a choice when in fact it does not.
Sure it does. You have the choice of having some corporate piece of shit financing a corrupt leftist politician to rob your money to enrich themselves, or financing some corrupt right wing politician to rob your money and enrich themselves.

The idea that the American People are effectively represented by a democracy is simply not supported by the facts.
The U.S. is a democratic republic, not a true democracy, because true democracies are stupid. A true democracy would result in shit like California and the entire southwest voting to become part of Mexico because our dumb politicians allowed millions of illegal aliens to colonize those states and throw off the population demographics.

The U.S. is fucked, and we're passed due for a reset.
 
https://www.nakedcapitalism.com/201...ocrats-helping-gut-financial-regulations.html

This banking deregulation bill would roll back the already weak and ineffective provisions of Dodd-Frank, clearing way for banks to do all the same things that caused the 2008 financial crash. Because what could go wrong?!

These Democrats; In addition to Sen. Angus King (I-Maine), the 12 Democratic senators currently co-sponsoring the deregulation measure are: Doug Jones (Ala.), Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.), Mark Warner (Va.), Claire McCaskill (Mo.), Joe Manchin (W.Va.), Tim Kaine (Va.), Gary Peters (Mich.), Michael Bennet (Colo.), Chris Coons (Del.), and Tom Carper of Delaware.

"Banks have not been suffering in terms of profits, so exactly what is the problem that needs to be solved? And that’s before you get to the fact that banks enjoy such extensive subsidies that they should not be treated like private businesses but regulated like old-fashioned utilities. The idea that banks have a right to earn more that a modest level of profit to help fund expansion in line with overall economic growth is in fact detrimental to the economy."

This is corruption, pure and simple. The banks are engaging in extractive and parasitic behavior because their money buys our political system. The notion that somehow 'Democrats are different' is a lie manufactured to distract the uneducated lay person into thinking our political system offers a choice when in fact it does not.

@UncleBuck you'll notice our own US Senator Micheal Bennett (D-Colorado) is on that list.

The idea that the American People are effectively represented by a democracy is simply not supported by the facts. When big money can buy legislation from politicians in both parties that puts the entire economy at risk for the profit of a few, it's kleptocracy, not democracy.

When people who protest are ridiculed by Media that are owned by the same tiny elite- who then cheer when police use blatantly unconstitutional tactics to 'clear the streets' and 'keep the peace', we do not have democracy, we have Inverted Totalitarianism.

I'm going to caucus tonight. I'm going to do my part to advance Progressive causes and candidates, such as ending legalised bribery in our political system and regulating an outrageously predatory banning system. But I'm just one guy.

This affects all of you, too; each economic crash raids your future and that if your children and even when times are good the banks extract so much excess profit the rest of the economy suffers. Just because you may not understand exactly how it works doesn't mean it isn't happening.

The clowns will be along here shortly with their usual puerile remarks that intend to insult me, the messenger. Ignore them. Do your own homework. Neither Republicans nor Democrats are here to represent interests of the 99% of us. They only care about the money they need to get reelected. The two major parties in America may call themselves different, but in deeds and actions there is no real distinction.
Tldr
 
https://www.nakedcapitalism.com/201...ocrats-helping-gut-financial-regulations.html

This banking deregulation bill would roll back the already weak and ineffective provisions of Dodd-Frank, clearing way for banks to do all the same things that caused the 2008 financial crash. Because what could go wrong?!

These Democrats; In addition to Sen. Angus King (I-Maine), the 12 Democratic senators currently co-sponsoring the deregulation measure are: Doug Jones (Ala.), Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.), Mark Warner (Va.), Claire McCaskill (Mo.), Joe Manchin (W.Va.), Tim Kaine (Va.), Gary Peters (Mich.), Michael Bennet (Colo.), Chris Coons (Del.), and Tom Carper of Delaware.

"Banks have not been suffering in terms of profits, so exactly what is the problem that needs to be solved? And that’s before you get to the fact that banks enjoy such extensive subsidies that they should not be treated like private businesses but regulated like old-fashioned utilities. The idea that banks have a right to earn more that a modest level of profit to help fund expansion in line with overall economic growth is in fact detrimental to the economy."

This is corruption, pure and simple. The banks are engaging in extractive and parasitic behavior because their money buys our political system. The notion that somehow 'Democrats are different' is a lie manufactured to distract the uneducated lay person into thinking our political system offers a choice when in fact it does not.

@UncleBuck you'll notice our own US Senator Micheal Bennett (D-Colorado) is on that list.

The idea that the American People are effectively represented by a democracy is simply not supported by the facts. When big money can buy legislation from politicians in both parties that puts the entire economy at risk for the profit of a few, it's kleptocracy, not democracy.

When people who protest are ridiculed by Media that are owned by the same tiny elite- who then cheer when police use blatantly unconstitutional tactics to 'clear the streets' and 'keep the peace', we do not have democracy, we have Inverted Totalitarianism.

I'm going to caucus tonight. I'm going to do my part to advance Progressive causes and candidates, such as ending legalised bribery in our political system and regulating an outrageously predatory banning system. But I'm just one guy.

This affects all of you, too; each economic crash raids your future and that if your children and even when times are good the banks extract so much excess profit the rest of the economy suffers. Just because you may not understand exactly how it works doesn't mean it isn't happening.

The clowns will be along here shortly with their usual puerile remarks that intend to insult me, the messenger. Ignore them. Do your own homework. Neither Republicans nor Democrats are here to represent interests of the 99% of us. They only care about the money they need to get reelected. The two major parties in America may call themselves different, but in deeds and actions there is no real distinction.
Yeah, Democrats tend to differ about banking regulations. In this case 12 of them. Or in the spirit of that Naked Capitalism article, In this case 12 of them. So the entire Democratic party is corrupt because twelve Democrats are breaking with others on this issue?
 
Yeah, Democrats tend to differ about banking regulations. In this case 12 of them. Or in the spirit of that Naked Capitalism article, In this case 12 of them. So the entire Democratic party is corrupt because twelve Democrats are breaking with others on this issue?
What's the end result?

You would let the Democratic Party off the hook for the destruction of our economic system.

That's your choice. We disagree.
 
Certainly a touchy subject.

I personally think Dodd Frank is a bad bill, it was very half assed in actually effecting any positive change on the banking industry. It let the corrupt bankers off with zero consequences, and the American tax payers still footed the bill for the bankers crimes.

It may seem counter intuitive, but much of the time these " banking regulations" simply end up allowing the Banks even more freedom to abuse the system.

Think about Drug laws. When the laws get stronger and more complex, does the problem get better, or more severe?

In damn near most cases, more regulation actually creates more of the same problems than it solves.

Instead of more and more Government, the entities comitting crime/fraud simply need to be held accountable.

Instead of the taxpayers footing the bill, fannie mae & freddie mac should have been forced to go bankrupt. No bank should be " too big to fail". That is exactly why America is 20 trillion in debt. Not necessarily because banks are not regulated enough, but because regular Americans are forced to pay for the crimes of Criminals.

I am definitely not against all Banking Regulation, basically what I am saying is modern banking regs really equal more ways for the tax payer to bail out the banks.

"Dodd-Frank was based on the premise that the financial crisis was the result of deregulation. Yet George Mason University’s Mercatus Center reports that regulatory restrictions on financial services grew every year between 1999-2008. It wasn’t deregulation that caused the crisis, it was dumb regulation."

https://www.wsj.com/articles/after-five-years-dodd-frank-is-a-failure-1437342607
 
What's the end result?

You would let the Democratic Party off the hook for the destruction of our economic system.

That's your choice. We disagree.
Yeah, I disagree with you or better put, I simply don't understand the rationale that the whole Democratic party should be tarred for the actions of a few.

I do hold the Republican Party responsible when EVERY Republican Senator supports this measure. It's my guess that every Republican House member will support it too. They are in charge, they wrote the bill and they will get it passed too.

I don't hold the entire Democratic Party responsible because a few Senators chose to break from the party to vote with Republicans. I'd hold those Senators responsible but they aren't from my state. Maybe I'll donate to a Pac to primary these guys on the basis of this. I'll give it some thought. But no, I don't hold Senators who opposed the bill responsible any more than I hold Schumer, Perez or Warren, for that matter, responsible

I'd completely understand if you voted against Bennet based on this. None of my Senators support this bill. For some reason I'm supposed to oppose Democratic Party Senators from my state because of what Bennet did? Look them up, Wyden and Merkely are really good on most issues that you and I care about. No, I'm not going to blame the entire Democratic party for the actions of 12 Democratic Senators.
 
https://www.nakedcapitalism.com/201...ocrats-helping-gut-financial-regulations.html

This banking deregulation bill would roll back the already weak and ineffective provisions of Dodd-Frank, clearing way for banks to do all the same things that caused the 2008 financial crash. Because what could go wrong?!

These Democrats; In addition to Sen. Angus King (I-Maine), the 12 Democratic senators currently co-sponsoring the deregulation measure are: Doug Jones (Ala.), Joe Donnelly (Ind.), Heidi Heitkamp (N.D.), Jon Tester (Mont.), Mark Warner (Va.), Claire McCaskill (Mo.), Joe Manchin (W.Va.), Tim Kaine (Va.), Gary Peters (Mich.), Michael Bennet (Colo.), Chris Coons (Del.), and Tom Carper of Delaware.

"Banks have not been suffering in terms of profits, so exactly what is the problem that needs to be solved? And that’s before you get to the fact that banks enjoy such extensive subsidies that they should not be treated like private businesses but regulated like old-fashioned utilities. The idea that banks have a right to earn more that a modest level of profit to help fund expansion in line with overall economic growth is in fact detrimental to the economy."

This is corruption, pure and simple. The banks are engaging in extractive and parasitic behavior because their money buys our political system. The notion that somehow 'Democrats are different' is a lie manufactured to distract the uneducated lay person into thinking our political system offers a choice when in fact it does not.

@UncleBuck you'll notice our own US Senator Micheal Bennett (D-Colorado) is on that list.

The idea that the American People are effectively represented by a democracy is simply not supported by the facts. When big money can buy legislation from politicians in both parties that puts the entire economy at risk for the profit of a few, it's kleptocracy, not democracy.

When people who protest are ridiculed by Media that are owned by the same tiny elite- who then cheer when police use blatantly unconstitutional tactics to 'clear the streets' and 'keep the peace', we do not have democracy, we have Inverted Totalitarianism.

I'm going to caucus tonight. I'm going to do my part to advance Progressive causes and candidates, such as ending legalised bribery in our political system and regulating an outrageously predatory banning system. But I'm just one guy.

This affects all of you, too; each economic crash raids your future and that if your children and even when times are good the banks extract so much excess profit the rest of the economy suffers. Just because you may not understand exactly how it works doesn't mean it isn't happening.

The clowns will be along here shortly with their usual puerile remarks that intend to insult me, the messenger. Ignore them. Do your own homework. Neither Republicans nor Democrats are here to represent interests of the 99% of us. They only care about the money they need to get reelected. The two major parties in America may call themselves different, but in deeds and actions there is no real distinction.


upload_2018-3-6_16-59-29.jpeg
 
Certainly a touchy subject.

I personally think Dodd Frank is a bad bill, it was very half assed in actually effecting any positive change on the banking industry. It let the corrupt bankers off with zero consequences, and the American tax payers still footed the bill for the bankers crimes.

It may seem counter intuitive, but much of the time these " banking regulations" simply end up allowing the Banks even more freedom to abuse the system.

Think about Drug laws. When the laws get stronger and more complex, does the problem get better, or more severe?

In damn near most cases, more regulation actually creates more of the same problems than it solves.

Instead of more and more Government, the entities comitting crime/fraud simply need to be held accountable.

Instead of the taxpayers footing the bill, fannie mae & freddie mac should have been forced to go bankrupt. No bank should be " too big to fail". That is exactly why America is 20 trillion in debt. Not necessarily because banks are not regulated enough, but because regular Americans are forced to pay for the crimes of Criminals.

I am definitely not against all Banking Regulation, basically what I am saying is modern banking regs really equal more ways for the tax payer to bail out the banks.

"Dodd-Frank was based on the premise that the financial crisis was the result of deregulation. Yet George Mason University’s Mercatus Center reports that regulatory restrictions on financial services grew every year between 1999-2008. It wasn’t deregulation that caused the crisis, it was dumb regulation."

https://www.wsj.com/articles/after-five-years-dodd-frank-is-a-failure-1437342607
What's needed is to reinstate Glass-Steagal, in whole cloth.

We can tinker around the margins but it was a good law and it worked well to keep the banksters in check.

In other words, 'more' banking regulation vvs 'less' banking regulation is a fool's choice, which is why we see it so prominently promoted on Faux Spews.

What we need is BETTER and EFFECTIVE banking regulation.

We will not get it as a country or as citizens until Citizens United is outlawed.
 
What's needed is to reinstate Glass-Steagal, in whole cloth.

We can tinker around the margins but it was a good law and it worked well to keep the banksters in check.

In other words, 'more' banking regulation vvs 'less' banking regulation is a fool's choice, which is why we see it so prominently promoted on Faux Spews.

What we need is BETTER and EFFECTIVE banking regulation.

We will not get it as a country or as citizens until Citizens United is outlawed.

Glass steagel was a good bill
 
Glass steagel was a good bill
written in the 1930's when the country was still healing from banking collapse. There is good wisdom in that bit of legislation. 80 years later, it could do for an update but I'd like to keep the basic provisions intact.

This is all a fantasy. The Republican Congress and Trump are heading us back to the same deregulation that led to the crash in 2008.
 
written in the 1930's when the country was still healing from banking collapse. There is good wisdom in that bit of legislation. 80 years later, it could do for an update but I'd like to keep the basic provisions intact.

This is all a fantasy. The Republican Congress and Trump are heading us back to the same deregulation that led to the crash in 2008.
Glass steagel was a good bill
And who repealed it?

CLINTON!

A DEMOCRAT!

Yet somehow we're not supposed to hold Democrats responsible?!

Give me a fucking break, @Fogdog
 
And who repealed it? CLINTON! A DEMOCRAT!

Yet somehow were not supposed to hold Democrats responsible?

Give me a fucking break, @Fogdog
Which branch of government writes the legislation?

Clinton signed it into law. He's culpable. So damn democrats, right tty?

How did the Democratic Party vote on the Graham-Leach-Bliley Act in Congress?

Senate
Republicans for: 53
Democrats for: 1
Republicans against: 0
Democrats against: 44

House
Republicans for: 207
Democrats for: 155


Republicans against: 5
Democrats against: 51

Here again you focus on Democrats when, due to opposition in the Senate by Democrats, that bill would never have passed. You are simply blinded by right wing propaganda against Democrats. The bill to repeal Glass Steagal was a Republican bill throughout. Clinton signed it. He's culpable, not the entire party. Democrats would never have let it come to pass.
 
Written by republican congress and would've been signed into law by shrub months later anyway
What a shit excuse.

You'll twist logic, reason the truth into pretzels to avoid admitting the truth that Democrats will act like Republicans when it's their campaign funding on the line.
 
Which branch of government writes the legislation?

Clinton signed it into law. He's culpable. So damn democrats, right tty?

How did the Democratic Party vote on the Graham-Leach-Bliley Act in Congress?

Senate
Republicans for: 53
Democrats for: 1
Republicans against: 0
Democrats against: 44

House
Republicans for: 207
Democrats for: 155


Republicans against: 5
Democrats against: 51

Here again you focus on Democrats when, due to opposition in the Senate by Democrats, that bill would never have passed. You are simply blinded by right wing propaganda against Democrats. The bill to repeal Glass Steagal was a Republican bill throughout. Clinton signed it. He's culpable, not the entire party. Democrats would never have let it come to pass.
William Jefferson Clinton was a democratic President.

Keep spinning, your dizzy bullshit is at least entertaining.
 
Back
Top