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Skwmom

(12,685 posts)
Wed Jun 15, 2016, 10:14 AM Jun 2016

This message was self-deleted by its author

This message was self-deleted by its author (Skwmom) on Sun Oct 9, 2016, 03:56 AM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

21 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
This message was self-deleted by its author (Original Post) Skwmom Jun 2016 OP
You shouldn't vote for Bill in the general election. Renew Deal Jun 2016 #1
The presumptive nominee Beowulf Jun 2016 #4
Clintonimics is a disaster. highprincipleswork Jun 2016 #2
Speak for yourself. To most Americans, those policies did well for them. tonyt53 Jun 2016 #5
Illusion highprincipleswork Jun 2016 #14
Uh, Bill Clinton took office in January 1993. Sad attempt here. tonyt53 Jun 2016 #3
Yes he did. Even though there was clear evidence of what deregulation had led to the Clintons Skwmom Jun 2016 #7
Tony is right, this is sad. You're quoting something from before WJC was elected. BobbyDrake Jun 2016 #12
What the author warned against came true. Clinton further deregulated, ignoring what deregulation Skwmom Jun 2016 #15
Tick Tock, Tick Tock. nt BootinUp Jun 2016 #6
Deregulators Phil Gramm, Bill Clinton & George W Bush now work in UBS Wealth Management TOGETHER Octafish Jun 2016 #17
Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis BootinUp Jun 2016 #18
That's what Phil Gramm says, too. Octafish Jun 2016 #19
... onehandle Jun 2016 #8
22/23 million jobs created during the Clinton era. I know many oasis Jun 2016 #9
Taking credit for the dot.com bubble does not make it true. Skwmom Jun 2016 #16
Like sands through an hourglass... brooklynite Jun 2016 #10
lol nt BootinUp Jun 2016 #11
LOL n/t FSogol Jun 2016 #20
Many here seem to believe that speaking about economics and history will soon be bannable. Tierra_y_Libertad Jun 2016 #13
K&R#5 bobthedrummer Jun 2016 #21

Renew Deal

(84,379 posts)
1. You shouldn't vote for Bill in the general election.
Wed Jun 15, 2016, 10:21 AM
Jun 2016

Beowulf

(761 posts)
4. The presumptive nominee
Wed Jun 15, 2016, 10:27 AM
Jun 2016

has said she wants to put him in charge of economic policy.

 

highprincipleswork

(3,111 posts)
2. Clintonimics is a disaster.
Wed Jun 15, 2016, 10:26 AM
Jun 2016
 

tonyt53

(5,737 posts)
5. Speak for yourself. To most Americans, those policies did well for them.
Wed Jun 15, 2016, 10:27 AM
Jun 2016
 

highprincipleswork

(3,111 posts)
14. Illusion
Wed Jun 15, 2016, 10:53 AM
Jun 2016
 

tonyt53

(5,737 posts)
3. Uh, Bill Clinton took office in January 1993. Sad attempt here.
Wed Jun 15, 2016, 10:26 AM
Jun 2016

Skwmom

(12,685 posts)
7. Yes he did. Even though there was clear evidence of what deregulation had led to the Clintons
Wed Jun 15, 2016, 10:30 AM
Jun 2016

pushed even BIGGER deregulation which led to the 2008 crash.

Of course, Clinton did the same with Iraq and Libya.
 

BobbyDrake

(2,542 posts)
12. Tony is right, this is sad. You're quoting something from before WJC was elected.
Wed Jun 15, 2016, 10:38 AM
Jun 2016

Maybe this works in the Bernie Group, but the standards are higher out here. The emotional response an article induces doesn't increase its value, or reduce its irrelevance.

Skwmom

(12,685 posts)
15. What the author warned against came true. Clinton further deregulated, ignoring what deregulation
Wed Jun 15, 2016, 11:38 AM
Jun 2016

had given us.

BootinUp

(50,233 posts)
6. Tick Tock, Tick Tock. nt
Wed Jun 15, 2016, 10:29 AM
Jun 2016

Octafish

(55,745 posts)
17. Deregulators Phil Gramm, Bill Clinton & George W Bush now work in UBS Wealth Management TOGETHER
Wed Jun 15, 2016, 11:52 AM
Jun 2016

After his exit from the US Senate, Phil Gramm found a job at Swiss bank UBS as vice chairman. He later brought on former President Bill Clinton. What a coincidence, they are the two key figures in repealing Glass-Steagal. Since the New Deal it was the financial regulation that protected the US taxpayer from the Wall Street casino. Oh well, what's a $16 trillion bailout among friends?



It's a Buy-Partisan Who's Who:

President William J. Clinton
President George W. Bush Heh heh heh.
Robert J. McCann
James Carville
John V. Miller
Paula D. Polito
Anthony Roth
Mike Ryan
John Savercool

SOURCE: http://financialservicesinc.ubs.com/revitalizingamerica/SenatorPhilGramm.html

One of my attorney chums doesn't like to see his name on any committees, event letterhead or political campaign literature. These folks, it seems to me, are past caring.

Tick Tock has nothing to do with it. ALL DUers and ALL voters should care about this.

BootinUp

(50,233 posts)
18. Bill Clinton: Glass-Steagall repeal had nothing to do with financial crisis
Wed Jun 15, 2016, 12:01 PM
Jun 2016
Politifact:Overall, we rate Clinton’s claim Mostly True.

Pretty good article about the causes of the financial collapse. Educate yourself. I also suggest you become more familiar with Hillary Clinton's proposals to increase regulations on the financial markets.

Octafish

(55,745 posts)
19. That's what Phil Gramm says, too.
Wed Jun 15, 2016, 12:31 PM
Jun 2016

So I'll go with James Rickards:



Repeal of Glass-Steagall Caused the Financial Crisis

The repeal of the law separating commercial and investment banking caused the 2008 financial crisis.


By James Rickards | Contributor Aug. 27, 2012

The oldest propaganda technique is to repeat a lie emphatically and often until it is taken for the truth. Something like this is going on now with regard to banks and the financial crisis. The big bank boosters and analysts who should know better are repeating the falsehood that repeal of Glass-Steagall had nothing to do with the Panic of 2008.

In fact, the financial crisis might not have happened at all but for the 1999 repeal of the Glass-Steagall law that separated commercial and investment banking for seven decades. If there is any hope of avoiding another meltdown, it's critical to understand why Glass-Steagall repeal helped to cause the crisis. Without a return to something like Glass-Steagall, another greater catastrophe is just a matter of time.

History is a good place to begin. After the Depression of 1920-21, the United States embarked on a period of economic prosperity known as the Roaring Twenties. It was a time of innovation, especially in consumer goods such as automobiles, radio, and refrigeration. Along with these goods came new forms of consumer credit and bank expansion. National City Bank (forerunner of today's Citibank) and Chase Bank opened offices to sell securities side-by-side with traditional banking products like deposits and loans.

As the decade progressed, the stock market boomed and eventually reached bubble territory. Along with the bubble came market manipulation in the form of organized pools that would ramp up the price of stocks and dump them on unsuspecting suckers just before the stock collapsed. Banks joined in by offering stocks of holding companies that were leveraged pyramid schemes and other securities backed by dubious assets.

In 1929, the music stopped, the stock market crashed and the Great Depression began. It took eight years from the start of the boom to the bust. Subsequent investigations revealed the extent of the fraud that preceded the crash. In 1933, Congress passed Glass-Steagall in response to the abuses. Banks would be allowed to take deposits and make loans. Brokers would be allowed to underwrite and sell securities. But no firm could do both due to conflicts of interest and risks to insured deposits. From 1933 to 1999, there were very few large bank failures and no financial panics comparable to the Panic of 2008. The law worked exactly as intended.

[font color="green"]In 1999, Democrats led by President Bill Clinton and Republicans led by Sen. Phil Gramm joined forces to repeal Glass-Steagall at the behest of the big banks. What happened over the next eight years was an almost exact replay of the Roaring Twenties. Once again, banks originated fraudulent loans and once again they sold them to their customers in the form of securities. The bubble peaked in 2007 and collapsed in 2008. The hard-earned knowledge of 1933 had been lost in the arrogance of 1999.[/font color]

CONTINUED...

http://www.usnews.com/opinion/blogs/economic-intelligence/2012/08/27/repeal-of-glass-steagall-caused-the-financial-crisis



Seeing how the repeal of Glass Steagall put the US taxpayer on the hook for the Wall Street casino, I can understand why a Hillary supporter would side with Bill.

FTR: Here's what I wrote in February 28, 2008 regarding the S&L crisis, a dress-rehearsal for what was to come with the banks:

Know your BFEE: They Looted Your Nation’s S&Ls for Power and Profit

Then, after the Bankstershitstorm in September 21, 2008, I asked them who stole it to put it back:

Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.

onehandle

(51,122 posts)
8. ...
Wed Jun 15, 2016, 10:34 AM
Jun 2016

[img][/img]

oasis

(52,741 posts)
9. 22/23 million jobs created during the Clinton era. I know many
Wed Jun 15, 2016, 10:35 AM
Jun 2016

who greatly benefited from those prosperous years.

Skwmom

(12,685 posts)
16. Taking credit for the dot.com bubble does not make it true.
Wed Jun 15, 2016, 11:38 AM
Jun 2016
 

brooklynite

(96,882 posts)
10. Like sands through an hourglass...
Wed Jun 15, 2016, 10:35 AM
Jun 2016

BootinUp

(50,233 posts)
11. lol nt
Wed Jun 15, 2016, 10:37 AM
Jun 2016

FSogol

(47,437 posts)
20. LOL n/t
Wed Jun 15, 2016, 12:33 PM
Jun 2016
 

Tierra_y_Libertad

(50,414 posts)
13. Many here seem to believe that speaking about economics and history will soon be bannable.
Wed Jun 15, 2016, 10:41 AM
Jun 2016
 

bobthedrummer

(26,083 posts)
21. K&R#5
Wed Jun 15, 2016, 01:50 PM
Jun 2016

The stealthy, Eric Schmidt-backed startup that's working to put Hillary Clinton in the White House (Adam Pasick and Timfernholz 2015)
http://qz.com/520652/groundwork-eric-schmidt-startup-working-for-hillary-clinton-campaign

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