Bernie Sanders Predicts Crash of 2008 in 1998

[eridani]

&feature=youtu.be

https://www.youtube.com/watch?feature=player_detailpage&v=Uh4i7kadbhA

Bernie Sanders doing what he does best, standing up for the public.

He was concerned with the way the economy was being managed like a casino and explained that it's now possible (in 1998) for one person or institution to destabilize the entire economy world wide.

[merrily]

1. Good for Sanders. However, Sanders was not the only one who warned of the pitfalls of

Gramm, Leach, Blilely. Still, we were "blessed" with it and its consequences, along with the UK, Greece, Portugal, etc.

Thanks, Clinton, Summers, et al. for lobbying Democrats hard to vote for it so Clinton and his apologists could later claim a veto-proof majority.


BTW, please, no one buy the cynical "veto proof majority" excuse, esp. when the only way the President got the alleged veto proof majority in the first place was to lobby his own party hard to get it. There is honor, and no shame, in a Presidential veto based on conviction. There should be more shame in working hard to attain a veto proof majority so as to be able to use it an excuse when the legislation hits the fan and/or becomes unpopular.

For the record, guess what is the only way for a President to actually know whether a veto proof majority will hold after a veto, especially among Representatives and Senators of the President's own Party?

Yep. You guessed it. The only way to know is for the President to veto--and, if he or she is honest about it, to lobby hard against an override as well.

https://en.wikipedia.org/wiki/List_of_United_States_presidential_vetoes


Trying to have it every which way and hoping voters in his own party never catch on? Classic Bill Clinton.

[eridani]

6. Lots of economists knew for sure, but AFAIK Sanders is the only presidential candidate

--to have put out a warning.

[merrily]

7. The one I am thinking of was a Rep, as Sanders was at the time.

Last edited Tue Jun 30, 2015, 12:29 AM - Edit history (1)

Dorgan. When I first researched Glass Steagall some years back, Dorgan's was the name that came up.

But, of course, Dorgan is not running for President.

[Enthusiast]

2. If you have never seen it the following might give you some insight into the

political climate at the time.

[appalachiablue]

8. R & R. 1,000 Keep this handy. Wow, oh wow. This was a major turning point, for the much worse-

[Admiral Loinpresser]

3. Now that Bill Clinton is not in office,

or a candidate, is it OK to say he is a Jamaican jerkoff?

[raouldukelives]

4. K&R "They would not listen, they're not listening still." nt

[appalachiablue]

5. K & R. What corrupt politicians, banks & corporations have done to this country, the world & earth

to line their own pockets, and those of the global Investor Class at the expense of people, democratic institutions and the environment is an abomination. US world standing is declining rapidly in many areas with education now down to no. 16 and the great US middle class no. 2 behind Canada for the first time ever.

Thirty years of free market neoliberal economics, unfair trade agreements and buy-partisan policies to dismantle New Deal reforms, the social safety net, collective bargaining, unions and protections for workers, and kill all government except for the courts, presidency and military is creating unprecedented income inequality, debt, poverty and class and race divisions in the richest country in the world.

It's deregulate, corrupt and privatize for profit everything, our federal and local government regulatory agencies that oversee the financial sector, corporations and press, and the commons we share- food, air, water and soil, media and communications, hospitals, schools, military, prisons, transportation, roads, parks, the US Postal Service and more.

Our country is fast being bought up and plundered by foreign investors: municipal water utilities, Smithfield Co. that sold to the Chinese, sacred Native American lands exploited for mining, and real estate and landmark properties like the famous NY Waldorf Astoria Hotel sold last year to a Chinese corporation by Hilton for $2 billion.

To stop the damage to this country and the environment, Sen. Bernie Sanders' call for massive movement building by people, an overturn of Citizens United (CU) to remove money from politics and a political revolution is the way we can move forward and not backward to an oligarchic, elite-ruled 19th century society driven by ultraconservative forces.






NY Waldorf Astoria Hotel bought by Chinese, June 2015
http://www.democraticunderground.com/1016125758

[Enthusiast]

9. PLUS ONE! Your post could use greater visibility.

At least some of us see this.

Unfortunately a number of DUers seem to think these changes are just business as usual.

This isn't business as usual, these changes are unprecedented.