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Cassiopeia

(2,603 posts)
Sat Oct 17, 2015, 09:20 AM Oct 2015

Hillary Clinton's Take on Banks Won't Hold Up (Taibbi)

http://www.rollingstone.com/politics/news/hillary-clintons-take-on-banks-wont-hold-up-20151014


A few observations:

First, it's definitive now that Hillary has no intention of reinstating Glass-Steagall. Cooper gave her a prime opportunity Tuesday night to announce otherwise, stories have filtered out of her campaign that she has no plans along those lines, and she's explicitly stated that she wants to find a "different way" to reduce risk.

The second and probably more important observation is about Hillary's rhetorical choices.

Hillary, like her close advisor Barney Frank, has been pushing an idea that banks aren't at the root of any financial instability problem. Last night, she pointed a finger instead at "shadow banking," non-bank actors like AIG, and a dead investment bank in Lehman Brothers. (Interesting she didn't mention a still-viable investment bank like Goldman, Sachs, which has hosted her expensive speaking engagements.)


more at link
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Hillary Clinton's Take on Banks Won't Hold Up (Taibbi) (Original Post) Cassiopeia Oct 2015 OP
I'll take Krugman and Stiglitz over Taibbi. JaneyVee Oct 2015 #1
You got it exactly backwards Joe Turner Oct 2015 #6
Right, because what does Krugman know anyway. DanTex Oct 2015 #11
Krugman and HRC can be right about shadow banking being the bigger issue thesquanderer Oct 2015 #18
Agreed on that. Joe Turner Oct 2015 #32
Yeah, tell it to Bear Stearns. JaneyVee Oct 2015 #24
This message was self-deleted by its author Ed Suspicious Oct 2015 #22
Until Stiglitz or Ktugman say something critical of her Armstead Oct 2015 #26
Actually, Stiglitz would like Hillary's economic plan to look more like Bernie's. PotatoChip Oct 2015 #31
Joe Stiglitz is a member of HRC's advising team ... 1StrongBlackMan Oct 2015 #33
Did you read my post? I acknowledged that the subject matter was wealth inequality. (nt) PotatoChip Oct 2015 #36
Yes. I was just pointing out that ... 1StrongBlackMan Oct 2015 #46
HRC - Still Beholden To Oligarchs, Corporations And Banks cantbeserious Oct 2015 #2
Her supporters refuse to see the obvious. JRLeft Oct 2015 #3
Agree Completely - In The Zeal To Elect A Female President - Much Has Been Overlooked cantbeserious Oct 2015 #4
Yep the PUMA crowd is back. Party Unity My Ass. JRLeft Oct 2015 #5
The DNC DLC Third Way Establishment Is Apoplectic About A Bernie Presidency cantbeserious Oct 2015 #9
and it's not just about the presidency, 99th_Monkey Oct 2015 #35
Yes Agreed - What Would The World Come To Should - Honesty - Integrity - Sincerity - Prevail cantbeserious Oct 2015 #39
It is back, but now it's made out of Bernie supporters. DanTex Oct 2015 #10
Thank You For Insulting Bernie Supporters - Your Loyalties Are Noted For Future Reference cantbeserious Oct 2015 #12
"Future Reference" LOL. Yes, I'm a Clinton supporter. You can put that in your database. DanTex Oct 2015 #14
Duly Logged And Cataloged - Let The Data Collection And Tracking Begin cantbeserious Oct 2015 #15
LOL ... Some DUers a funny ... 1StrongBlackMan Oct 2015 #34
PUMA'S are HRC supporters with the same behavior as last time. The same arrogance. I can't JRLeft Oct 2015 #16
The people this time around threatening to sit out the GE if their candidate doesn't win DanTex Oct 2015 #17
Yes I've posted that multiple times. I'm willing to hold my nose and for bought and paid for JRLeft Oct 2015 #19
Better hurl more insults at them. That'll change their minds! (nt) jeff47 Oct 2015 #23
+1 Ed Suspicious Oct 2015 #25
LOL ... you didn't notice the exchange immediately preceding DanTex's "insult"? ... 1StrongBlackMan Oct 2015 #37
LOL ... you didn't notice DanTex's last 6 months of posting history? ... jeff47 Oct 2015 #49
Uh huh pinebox Oct 2015 #29
Wait ... Prior to maybe 6 months ago ... 1StrongBlackMan Oct 2015 #38
Not sure where you get that from pinebox Oct 2015 #44
Oh ... My bad ... 1StrongBlackMan Oct 2015 #48
THIS^ Is exactly why Bernie will win the GE, and Hillary may not. 99th_Monkey Oct 2015 #41
Critical info krkaufman Oct 2015 #51
+1 Enthusiast Oct 2015 #7
+1 Enthusiast Oct 2015 #8
Yes, and we will see a return to this very important issue Babel_17 Oct 2015 #13
Hillary... you lie Geronimoe Oct 2015 #20
The banksters puppet davemac Oct 2015 #21
Aren't 4 out of 5 of Hillary's top donors connected to Wall st.? Then that makes her a wholly-owned AzDar Oct 2015 #27
Hey, Hillary told Wall St. to "CUT IT OUT!". That should take care of everything. -nt- 99th_Monkey Oct 2015 #42
Yes GummyBearz Oct 2015 #43
The banks own her. Enough said. azmom Oct 2015 #28
I have to wonder if Bill and Hillary moved to that part of New York so she could Maineman Oct 2015 #30
This article is well worth a full read. jwirr Oct 2015 #40
Agreed...I keep posting this graphic because it shows the problem clearly Armstead Oct 2015 #45
Yes, I have seen that when you posted it before. We actually jwirr Oct 2015 #47
Just recall HRC's enemies list... krkaufman Oct 2015 #50
 

Joe Turner

(930 posts)
6. You got it exactly backwards
Sat Oct 17, 2015, 10:12 AM
Oct 2015

With the re-introduction of Glass-Steagall banks will have to eliminate many of the the risky investment exposure to securities and derivatives and get back to the old business of banking and lending. That makes the banking sector much more stable and that certainly reduces the chance of financial chaos. Of course rational arguments don't work toward Hillary's candidacy given her past voting record. And as for jobs, if Hillary gets elected you can bet the ranch she will welch on her recent negative position on TPP and sign it....and there goes a few million more good paying jobs.

thesquanderer

(12,146 posts)
18. Krugman and HRC can be right about shadow banking being the bigger issue
Sat Oct 17, 2015, 10:24 AM
Oct 2015

but that wouldn't necessarily mean that reinstating glass-steagal is not a good idea as well.

 

JaneyVee

(19,877 posts)
24. Yeah, tell it to Bear Stearns.
Sat Oct 17, 2015, 11:09 AM
Oct 2015

Whom Glass-Steagall would have had no effect. Among many other financial institutions.

Response to JaneyVee (Reply #1)

 

Armstead

(47,803 posts)
26. Until Stiglitz or Ktugman say something critical of her
Sat Oct 17, 2015, 11:10 AM
Oct 2015

Taibbi is opinionated, but he's also a helluva reporter and backs his stuff up with research and knpowledge.

PotatoChip

(3,186 posts)
31. Actually, Stiglitz would like Hillary's economic plan to look more like Bernie's.
Sat Oct 17, 2015, 11:55 AM
Oct 2015

... As recently as May 6th, anyway....

Business Insider interview of Joe Stiglitz on the issue of wealth inequality:

BI: Which candidate (or potential candidate) do you think is best for the economy in 2016?

JS: As far as I know, all three of the announced Democratic candidates — Bernie Sanders, Hilary Clinton — and…has [Martin] O’Malley announced? They’ve all actually announced that they’re very concerned about the issue. And they have begun to roll out agendas. Bernie Sanders is the most progressive and has been most articulate over a longer period of time, laying out a pro-equality agenda. I think everybody hopes that the pressure is being put on Hillary to match.

http://www.businessinsider.com/nobel-laureate-joseph-stiglitz-2015-4?r=UK&IR=T
 

1StrongBlackMan

(31,849 posts)
33. Joe Stiglitz is a member of HRC's advising team ...
Sat Oct 17, 2015, 12:27 PM
Oct 2015

But that quote (at least the excerpt you clipped) isn't talking about banking.

 

1StrongBlackMan

(31,849 posts)
46. Yes. I was just pointing out that ...
Sat Oct 17, 2015, 12:52 PM
Oct 2015

in a discussion string about banking, that starts with:

I'll take Krugman and Stiglitz over Taibbi.


Implication being ... the poster would take Krugman and Stiglitz over Taibbi on the topic Taibbi wrote about.

and, continues:

Until Stiglitz or Ktugman say something critical of her ...


Implication being Stiglitz or Ktugman being critical of HRC on the topic Taibbi wrote about.

To which you respond:

Actually, Stiglitz would like Hillary's economic plan to look more like Bernie's.


My comment assumed that you, as most people, include banking in that economic plan. Stiglitz has NOT been critical of HRC's banking plan. If I was mistaken that you were talking about what others were talking about, please forgive me.
 

99th_Monkey

(19,326 posts)
35. and it's not just about the presidency,
Sat Oct 17, 2015, 12:33 PM
Oct 2015

it's about retaining 3rd Way's iron-fisted control of the Democratic Party, which was
pretty much ushered in by Big Dawg. God forbid that the Democratic Party would
be run by people who want to represent workers, the poor and racial minorities again,
rather than of the Oligarchy

 

1StrongBlackMan

(31,849 posts)
34. LOL ... Some DUers a funny ...
Sat Oct 17, 2015, 12:32 PM
Oct 2015

In an exchange were HRC are being insulted (being called PUMAs) ... a third party enters and states it's really the Bernie supporters who are the PUMAs ... " Why are you insulting Bernie supporters?!!!! "

 

JRLeft

(7,010 posts)
16. PUMA'S are HRC supporters with the same behavior as last time. The same arrogance. I can't
Sat Oct 17, 2015, 10:20 AM
Oct 2015

speak for everyone, but I am policy driven. I have no emotional attachment to a candidate. I am very invested in FOR style policies. HRC supporters seem to not care about policies or ethics. All that matters is Hillary wins damn her Wall Street, Big Pharma, Fossil fuel industry, MIC, PIC history none of that matters.

DanTex

(20,709 posts)
17. The people this time around threatening to sit out the GE if their candidate doesn't win
Sat Oct 17, 2015, 10:22 AM
Oct 2015

are Bernie supporters.

Since you brought it up: will you vote for the Democratic nominee if it's not Bernie?

 

JRLeft

(7,010 posts)
19. Yes I've posted that multiple times. I'm willing to hold my nose and for bought and paid for
Sat Oct 17, 2015, 10:30 AM
Oct 2015

candidate. She's horrible but she will have my vote.

 

pinebox

(5,761 posts)
29. Uh huh
Sat Oct 17, 2015, 11:38 AM
Oct 2015

You're funny Dan considering many Bernie supporters don't belong to ANY party. That whole (I) thing.

 

1StrongBlackMan

(31,849 posts)
38. Wait ... Prior to maybe 6 months ago ...
Sat Oct 17, 2015, 12:37 PM
Oct 2015

The vast majority of those supporting Bernie would have shouted mightily at the suggest of them NOT being of the Democratic Party.

 

pinebox

(5,761 posts)
44. Not sure where you get that from
Sat Oct 17, 2015, 12:47 PM
Oct 2015

Because myself and many others have always shouted we're NOT of the Dem party and continue to do so. Nor do we wish to and the whole DNC with Debbie is just one reason why.

We're the largest voting block in America and most of us are liberals, who left of the Dem establishment.

 

1StrongBlackMan

(31,849 posts)
48. Oh ... My bad ...
Sat Oct 17, 2015, 12:58 PM
Oct 2015

I must be from that begotten era where DEMOCRATICundergrounders were Democrats seeking to "work together to elect more Democrats."

My bad. While that explains a lot ... Please proceed.

 

99th_Monkey

(19,326 posts)
41. THIS^ Is exactly why Bernie will win the GE, and Hillary may not.
Sat Oct 17, 2015, 12:42 PM
Oct 2015

Hell, Bernie gets the vote from something like 21% of Republicans in Vermont, where they
know and trust him.

krkaufman

(13,465 posts)
51. Critical info
Sat Oct 17, 2015, 08:52 PM
Oct 2015

Wow, thanks for that message clearing-up what the previous poster meant. Their message was so subtle I'm not sure anyone would have figured it out had you not provided the Cliff Notes.

When whining about PUMA, consider what many candidates and their supporters see as the DNC disregarding any consideration of "party" in favor of a process favoring a single candidate.

Babel_17

(5,400 posts)
13. Yes, and we will see a return to this very important issue
Sat Oct 17, 2015, 10:16 AM
Oct 2015

Markers were laid down in the first debate. Later debates will see them called in.

 

Geronimoe

(1,539 posts)
20. Hillary... you lie
Sat Oct 17, 2015, 10:48 AM
Oct 2015

Of course the big banks were the problem. They were too big to fail. They received trillion of dollars in bailout funds, zero interest rate loans, and quantitative easing. The banks consolidated and are even bigger now.

 

davemac

(28 posts)
21. The banksters puppet
Sat Oct 17, 2015, 10:48 AM
Oct 2015

Sadly, with the level of commentators like Cooper, there is no chance of challenging falsehoods by corporate-chosen politicians. RIP critical thinking.

 

AzDar

(14,023 posts)
27. Aren't 4 out of 5 of Hillary's top donors connected to Wall st.? Then that makes her a wholly-owned
Sat Oct 17, 2015, 11:27 AM
Oct 2015

subsidiary...

Yeah... she'll fix 'em, alright.

 

GummyBearz

(2,931 posts)
43. Yes
Sat Oct 17, 2015, 12:47 PM
Oct 2015

Get in on the action now. Buy stocks of big banks, even if its just a few. Hillary will make us rich (unless you don't have the money to buy stocks, in which case she thinks you just didn't work hard enough)

Maineman

(854 posts)
30. I have to wonder if Bill and Hillary moved to that part of New York so she could
Sat Oct 17, 2015, 11:39 AM
Oct 2015

"work with" (get funded by) big money when she ran for Senate. Bill found out where the money was when he was president. He helped "reform" banking rules. No way can I vote for Hillary. I have tried voting for the one I thought could win -- a defensive strategy, but I am mostly done with that. I am voting for the person I think would try to solve the most important problems. So, the question is, What are this country's most important, most basic problems? I say Bernie is the one who is zeroing in on them. Secondly, I will vote for integrity. Clearly that is people like Elizabeth Warren and Bernie Sanders, maybe Joe Biden, but not Hillary.

 

Armstead

(47,803 posts)
45. Agreed...I keep posting this graphic because it shows the problem clearly
Sat Oct 17, 2015, 12:50 PM
Oct 2015

The merging of all those starting points....Those remaining lines are way too concentrated and the institutions they represent are way too big. Period.


http://www.motherjones.com/politics/2010/01/bank-merger-history



jwirr

(39,215 posts)
47. Yes, I have seen that when you posted it before. We actually
Sat Oct 17, 2015, 12:55 PM
Oct 2015

have 3 huge banks and they are gambling with our money because of the repeal of Glass-Steagall. I wish people would learn at least this one fact.

krkaufman

(13,465 posts)
50. Just recall HRC's enemies list...
Sat Oct 17, 2015, 08:47 PM
Oct 2015

Just re-read Hillary's extensive enemies list from the debate, when only asked for one, and note whom she didn't mention... Wall Street.

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