Turning The Ballot Box Against Republicans

https://scontent-lga1-1.xx.fbcdn.net/hphotos-xpt1/v/t1.0-9/11889626_903959009674280_3928209211395152061_n.jpg?oh=a07e0c5b54bc9f482f70b7fbf189d37c&oe=567C5FDE

0 Replies

The Right Wing Cult Machine Exposed
http://www.alternet.org/media/right-wing-cult-machine-exposed

Cult is too nice a description Frank Luntz...

How about "fascist faction"... ???

Though not very factual either.

0 Replies

@TheCobbler,

Quote:

When they dump this waste in open drains and ponds and then abandon it for the taxpayers to pick up the tab "twice" that is extortion!

If that is the case that would be the government's fault for not making BIG CORP pay into a clean-up fund each year they operate, like lots of industries have to do to clean up after the bums and failures. The government is the only one who could make it happen, and they dont. Corruption is the reason likely, but that does not change much. The government sucks, we let it suck, and sometimes idiot lefties like you falsely blame someone else for the failure. If this government is constantly giving us poor value on the dollar and often not doing things well then we are the problem. we the people. Stop hyperventilating spinning in idiocy blaming a few people you dont like. We all own this.

1 Reply

@hawkeye10,

That's just plain disingenuous.

You argue for less regulation and enforcement and then wattle on about the ineffectiveness of the Fed.

Typical Teapublican claptrap.

1 Reply

@TheCobbler,

Don't you mean when Clinton deregulated the banks? All of the deregulation of the banks took place from 1996-2000. It was the repeal of Glass-Steagall that lead to the problems we had in 2007 and later. Reagan had nothing to do with that repeal, nice try though.

2 Replies

@bobsal u1553115,

It's about the dedication of resources and what they choose to regulate. The either or argument you guys always present is part of the problem. Either we have big govt or we have unchecked whatever the flavor of discussion. It's a false choice. I think we can all agree that there can be reasonable regulation without it being overly restrictive and overbearing.

0 Replies

@Baldimo,

Baldimo wrote:

All of the deregulation of the banks took place from 1996-2000.

Quote:

In 1982, the Garn-St. Germain Depository Institutions Act was passed, which removed restrictions on loan-to-value ratios for Savings and Loan banks. Reagan's budget cut also reduced regulatory staff at the Federal Home Loan Bank Board. As a result, banks invested in risky real estate ventures. Reagan's deregulation and budget cutting contributed to the Savings and Loan Crisis of 1989.

http://useconomy.about.com/od/Politics/p/President-Ronald-Reagan-Economic-Policies.htm

2 Replies

@izzythepush,

The deregulation that lead to SLC were changed in the late 80's and had nothing to do with the problems in 2007 and later. It was the repeal of Glass-Steagall that lead to the latest market crash.

1 Reply

@izzythepush,

Quote:

• 1982, Garn-St. Germain Depository Institutions Act – Bill deregulates thrifts almost
entirely, allowing commercial lending and providing for a new account to compete with
money market mutual funds. This was a Reagan administration initiative that passed with
strong bi-partisan support.
• 1987, FSLIC Insolvency – GAO declares the deposit insurance fund of the savings and
loan industry to be insolvent as a result of mounting institutional failures.
• 1989, Financial Institutions Reform and Recovery Act – Act abolishes the Federal Home
Loan Bank Board and FSLIC, transferring them to OTS and the FDIC, respectively. The
plan also creates the Resolution Trust Corporation to resolve failed thrifts.
• 1994, Riegle-Neal Interstate Banking and Branching Efficiency Act – This bill
eliminated previous restrictions on interstate banking and branching. It passed with broad bipartisan
support.
1973 1977 1980 1983 1987 1990 1993 1996 2000 2003 2006 2010
Marquette vs. First of Omaha
Depository Institutions
Deregulation and Monetary
Control Act
Garn-St. Germain Act
FSLIC fund declared insolvent
Financial Institutions Reform and Recovery Act
Federal Reserve reinterprets
Glass-Steagall
Citicorp-Travelers merger
Gramm-Leach-Bliley Act repeals
Glass-Steagall restrictions
Commodity Futures
Modernization Act
SEC proposes voluntary
regulation
Subprime
mortgage crisis
Federal Reserve creates first special lending facility
Bear Stearns collapses
Lehman Brothers files
for bankruptcy
Congress authorizes the TARP
Fannie Mae and Freddie Mac
placed in conservatorship
PublicPrivate

Investment
Riegle-Neal Interstate Program
Banking and Branching
Efficiency Act
CEPR A Short History of Financial Deregulation in the United States 2
• 1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall
Act several times, eventually allowing bank holding companies to earn up to 25 percent of
their revenues in investment banking.
• 1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an
insurance company that owns an investment bank to form the world’s largest financial
services company.
• 1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury
Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act
completely.
• 2000, Commodity Futures Modernization Act – Passed with support from the Clinton
Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in
Congress. The bill prevented the Commodity Futures Trading Commission from regulating
most over-the-counter derivative contracts, including credit default swaps.

1 Reply

@Baldimo,

You said.

Quote:

All of the deregulation of the banks took place from 1996-2000.

Do you still stand by this?

1 Reply

@izzythepush,

When referring to what took place in the late 2000's? Yes. Rex is trying to imply the market crash of the late 2000's was due to Reagan deregulating the banks. That is not the truth. Besides the original deregulation we were talking about had to do with the EPA and environmental regulations. Why he decided to switch to banks is unknown. Regardless it was false.

1 Reply

@Baldimo,

Quote:

Don't you mean when Clinton deregulated the banks?

Which Republicans fought tooth and nail, right?

I've said it before: Bill Clinton was a fine pro-business moderate Republican.

He was wrong about deregulating the banks, privatizing of prisons, NSA wire and internet intercepts all thing you Teapublicans love and things that were expanded grossly on when the NeoCons hit the White House.

1 Reply

@bobsal u1553115,

I'm sure they didn't fight it tooth and nail. Since Clinton was the guy with the pen though, he gets the claim to fame for deregulating the banks. It's funny how a Clinton **** up gets you to look at and blame who was in control of Congress.

1 Reply

http://upload.democraticunderground.com/imgs/2015/150819-republicans-changing-the-constitution.jpg

0 Replies

@Baldimo,

Facts certainly derail Teapublican opinions, don't they.

I've noticed how inconvenient facts tend to turn your argument into other issues: " It's funny how a Clinton **** up gets you to look at and blame who was in control of Congress."

But I'll bite: who WAS in charge of six year of that Congress AND six years of this Administration? Hint? The leaders were GOP.

1 Reply

@bobsal u1553115,

I've brought this up in relation to other subjects and you and others have said it didn't matter who was in control of Congress, it matters who signed the laws. Clinton signed what was passed so according to you guys, he gets to catch the blame. If we get to blame Congress for what a President signs, then the Dems get the blame for the last 4 years of Bush's term as they were the ones in control of Congress. See how this goes?

1 Reply

@Baldimo,

Your math is a little fuzzy. You might want to check your facts before you claim the Dems controlled Congress for 4 years of a Bush Presidency.

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

1 Reply

@parados,

Yep my #'s were off. Sorry about that. It was the House for the last 2 years of his 2nd term.

0 Replies

@Baldimo,

You make a sweeping statement that is wrong, and it is very wrong, but you're not man enough to admit it.

These broad sweeps of rhetoric may go down well with an audience that does not know how to check facts, but not here.

Not only do you not have the courage to own up to your own mistakes but now you're trying to put words in Rex's mouth.

You should pay more attention to what comes out of your own mouth.

1 Reply

@izzythepush,

Not able to admit to my own mistakes? I guess you didn't read the post directly above yours. I'm not surprised. I've admitted to making mistakes before. I will point out that you are one of those who NEVER admits to mistakes.

What about my statement was wrong? Reagan's bank deregulation did cause the 2007 financial crises? I'm wrong about that?

How does bank deregulation link to environmental deregulation? That's the leap of logic he was trying to make.

2 Replies

Turning The Ballot Box Against Republicans

Related Topics

Quick Links

My Account

able2know