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You go girl! Keep pushing for this PLLLLLEEEEEEEAAAAAZZZZZZZZEEE!!!!!111!!!!! I'll have so much more faith in our economic future if Glass Steagall gets reimplemented.
Warren Joins McCain to Push New Glass-Steagall Law for Banks
U.S. Senator Elizabeth Warren said she and a bipartisan group of lawmakers are introducing a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
“Banking should be boring,” Warren, a Massachusetts Democrat, said yesterday in a conference call with reporters. “Anyone who wants to take big risks should go to Wall Street and should stay away from the basic banking system.”
The bill sponsored by Warren along Senators John McCain, an Arizona Republican, Maria Cantwell, a Washington Democrat, and Angus King, a Maine independent, would separate traditional banks that offer checking and savings accounts insured by the Federal Deposit Insurance Corp. from “riskier financial institutions.” The latter category includes companies involved in investment banking, insurance, swaps dealing, hedge funds and private equity, according to the lawmakers’ statement.
You go girl! Keep pushing for this PLLLLLEEEEEEEAAAAAZZZZZZZZEEE!!!!!111!!!!! I'll have so much more faith in our economic future if Glass Steagall gets reimplemented.
Warren Joins McCain to Push New Glass-Steagall Law for Banks
U.S. Senator Elizabeth Warren said she and a bipartisan group of lawmakers are introducing a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
“Banking should be boring,” Warren, a Massachusetts Democrat, said yesterday in a conference call with reporters. “Anyone who wants to take big risks should go to Wall Street and should stay away from the basic banking system.”
The bill sponsored by Warren along Senators John McCain, an Arizona Republican, Maria Cantwell, a Washington Democrat, and Angus King, a Maine independent, would separate traditional banks that offer checking and savings accounts insured by the Federal Deposit Insurance Corp. from “riskier financial institutions.” The latter category includes companies involved in investment banking, insurance, swaps dealing, hedge funds and private equity, according to the lawmakers’ statement.
In regard to Gramm-Bliley, which gutted Glass-Steagal, it was passed by a Republican Congress, overwhelmingly endorsed by many Democrats, and signed into law by President Clinton. Republicans and Democrats danced the Potomac Tango on the backs of the American people. It is only fitting that a Republican and a Democrat team up to end this monstrosity. An apology to the American people from both parties would be nice too.
In regard to Gramm-Bliley, which gutted Glass-Steagal, it was passed by a Republican Congress, overwhelmingly endorsed by many Democrats, and signed into law by President Clinton. Republicans and Democrats danced the Potomac Tango on the backs of the American people. It is only fitting that a Republican and a Democrat team up to end this monstrosity. An apology to the American people from both parties would be nice too.
an apology from political partys.
that has much chance as a icicle in a furnace
Oh yeah? well... your face... has uh.... nevermind.
who would object to this? oh yeah the banks.
i guess wall street made a mistake in blocking Elisabeth warrens nomination to the financial protection bureau.
Then, when people can't get loans, because the regulations were put back in place, the government can come in and save the day, by lifting the regulations, again.
So from 1930 to 1999 there were no loans by banks? Amazing.
Ever hear of a 20% cash depost? What about phyisical collaterall? Ever wonder why a bus driver was allowed to take an 800 thosand dollar home loan, with nothing down?
wtf does any of that rant have to do with Glass/Steagall?
And wtf does any of that rant have to do with you alluding to people not being able to get a loan from 1930 to 1999 because Glass/Streagall was enacted that whole time.
You want the regulations hammered back in place and you don't even have a clue what they are.
Do you know what Glass/Steagall did? When it was enacted and why? and when it was repealed? I do. And I don't even need the internet to find out anymore. I used the internet years ago to find out. Haven't forgotten. Your rant had nothing to do with Glass/Steagall. If your rant did have something to do with it, by all means... explain it to us.
You first, sir.
I never fully understood why Republicans would favor this, they're all about no intervention with anything. No government, who cares?
Ever wonder why a bus driver was allowed to take an 800 thosand dollar home loan, with nothing down?
wtf does any of that rant have to do with Glass/Steagall?
Ever hear of a 20% cash depost? What about phyisical collaterall?
Ever wonder why a bus driver was allowed to take an 800 thosand dollar home loan, with nothing down?
I wondered why the banks went out of their ****ing minds, yes.
I wondered why the banks went out of their ****ing minds, yes.
Nobody was a victim...
You go girl! Keep pushing for this
PLLLLLEEEEEEEAAAAAZZZZZZZZEEE!!!!!111!!!!! I'll have so much more faith in our economic future if Glass Steagall gets reimplemented.
Warren Joins McCain to Push New Glass-Steagall Law for Banks
U.S. Senator Elizabeth Warren said she and a bipartisan group of lawmakers are introducing a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
“Banking should be boring,” Warren, a Massachusetts Democrat, said yesterday in a conference call with reporters. “Anyone who wants to take big risks should go to Wall Street and should stay away from the basic banking system.”
The bill sponsored by Warren along Senators John McCain, an Arizona Republican, Maria Cantwell, a Washington Democrat, and Angus King, a Maine independent, would separate traditional banks that offer checking and savings accounts insured by the Federal Deposit Insurance Corp. from “riskier financial institutions.” The latter category includes companies involved in investment banking, insurance, swaps dealing, hedge funds and private equity, according to the lawmakers’ statement.
What complete nonsense, the Republicans had control of both houses of Congress in 2004 so they could have passed any legislation they desired. The Democrats took control of the House in Jan 2007. Low information voter? LMAO.Should it be re-implemented ? Yes.
DID the doing away with Glass-Steagal cause the 2008 finincial collapse ? No.
Warren just reaches out to your average low information Liberal via the " evil bank narrative" and keeps her lying mouth shut when it comes to who put the policies in place that lowered 100 year old Standards for banks and 60 year old standards for Fannie Mae.
All done under the false pretenses of "discriminatory" practices by lenders.
In 2004 when Fannies regulator was warning Congress of the two GSEs eventual Collapse, Democrats were sitting in front of Republican held Comitees lieing their asses off.
As the Republicans were trying to pass stricter regulations Fannie was doubling down on their extremely corrupt and irresponsible behaviour by getting into NINA loans and buying up massive amounts of privately issued mortgage backed securities.
What any investment bank or lending corporation did as far as unethical practices pales in comparison to the Corruption that Continued through questioning of investigative comittees at the GSEs.
When I hear her address the Government Sponsored Criminals at Fannie and Freddie I'll listen up but so far she's just another useless Democrat that only appeals to low information voters.
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