The home stretch

[striperman36]

http://www.economicpopulist.org/?q=c...ket-regulation

excerpt

What is most interesting is the United States is the exception to any of the above structures. It appears the cause is the Gramm-Leach-Bliley Act

The Financial Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act (GLBA), repealed provisions of the Glass-Steagall Act that restricted the ability of bank holding companies to affiliate with securities firms and insurance companies.
GLBA substantially modernized the U.S. financial services industry, but it made only incremental changes to financial services regulation. As a result, U.S. financial conglomerates can now operate in virtually all areas of financial services, but the regulatory structure remains largely institutional.
Attempts to address functional regulation under GLBA, whereby the regulator that is responsible for the activity will supervise that activity, were minimally successful, because the provisions of the Act were subject to numerous exceptions that were highly negotiated in the legislative process
and immensely difficult to implement.

In other words the regulations were repealed plus your classic lobbyist loopholes were strewn about the place making ineffective US regulation (Yes that's my interpretation). Translated further, free for all or the worlds largest gambling casino is our current system.

[justplugit]

Originally Posted by striperman

[B

In other words the regulations were repealed plus your classic lobbyist loopholes were strewn about the place making ineffective US regulation (Yes that's my interpretation.[/B]

Ya they were originally repealed to make it easier for everybody to buy a home.
"A pot in every kitchen, a chicken in every pot."

However, there were bills sent before Congress in 2001, 2003, and 2005 to put back stronger regulations which could have helped avert some of the crisis we're in now.

Those bills should have been passed and in mho a thorough investigation needs to be done to find any personal gains derived from the nay voters.

There are alot of suspects out there.

[Slipknot]

Originally Posted by justplugit

Ya they were originally repealed to make it easier for everybody to buy a home.
"A pot in every kitchen, a chicken in every pot."

However, there were bills sent before Congress in 2001, 2003, and 2005 to put back stronger regulations which could have helped avert some of the crisis we're in now.

Those bills should have been passed and in mho a thorough investigation needs to be done to find any personal gains derived from the nay voters.

There are alot of suspects out there.

that sounds pretty simple to me JPI
I wonder what Senator Spector is doing now , maybe he has time to look into this or maybe the people of the USA need to get the FBI involved since the government certainly won't investigate themselves

[Joe]

Obama, if nobody shoots him, will be only a one-term president. He's not going to have resources to do much of anything. Things are not going to turn around in four years, and he'll be assuming all the blame by Jan 21.

[Nebe]

Originally Posted by Joe

Obama, if nobody shoots him, will be only a one-term president. He's not going to have resources to do much of anything. Things are not going to turn around in four years, and he'll be assuming all the blame by Jan 21.

I disagree. he already is being blamed and he hasnt been elected yet

[striperman36]

Originally Posted by Nebe

I disagree. he already is being blamed and he hasnt been elected yet

He is? I thought he was just be accused of associating with dissidents and urban terrorists.

[spence]

Originally Posted by striperman36

He is? I thought he was just be accused of associating with dissidents and urban terrorists.

I thought Obama was anti-American? Middle name is Islamic. He's you know, not like us

Oh, and can you change your avatar back to your boat. That dude is bugging me.

-spence

[striperman36]

Love your pants too.

[spence]

Originally Posted by justplugit

However, there were bills sent before Congress in 2001, 2003, and 2005 to put back stronger regulations which could have helped avert some of the crisis we're in now.

Those bills should have been passed and in mho a thorough investigation needs to be done to find any personal gains derived from the nay voters.

I'd like to know what the bills actually proposed before I'd agree they should have been passed.

-spence