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Sat Oct 17, 2015, 08:20 AM

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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Arrow 51 replies Author Time Post
Reply Hillary Clinton's Take on Banks Won't Hold Up (Taibbi) (Original post)
Cassiopeia Oct 2015 OP
JaneyVee Oct 2015 #1
Joe Turner Oct 2015 #6
DanTex Oct 2015 #11
thesquanderer Oct 2015 #18
Joe Turner Oct 2015 #32
JaneyVee Oct 2015 #24
Ed Suspicious Oct 2015 #22
Armstead Oct 2015 #26
PotatoChip Oct 2015 #31
1StrongBlackMan Oct 2015 #33
PotatoChip Oct 2015 #36
1StrongBlackMan Oct 2015 #46
cantbeserious Oct 2015 #2
JRLeft Oct 2015 #3
cantbeserious Oct 2015 #4
JRLeft Oct 2015 #5
cantbeserious Oct 2015 #9
99th_Monkey Oct 2015 #35
cantbeserious Oct 2015 #39
DanTex Oct 2015 #10
cantbeserious Oct 2015 #12
DanTex Oct 2015 #14
cantbeserious Oct 2015 #15
1StrongBlackMan Oct 2015 #34
JRLeft Oct 2015 #16
DanTex Oct 2015 #17
JRLeft Oct 2015 #19
jeff47 Oct 2015 #23
Ed Suspicious Oct 2015 #25
1StrongBlackMan Oct 2015 #37
jeff47 Oct 2015 #49
pinebox Oct 2015 #29
1StrongBlackMan Oct 2015 #38
pinebox Oct 2015 #44
1StrongBlackMan Oct 2015 #48
99th_Monkey Oct 2015 #41
krkaufman Oct 2015 #51
Enthusiast Oct 2015 #7
Enthusiast Oct 2015 #8
Babel_17 Oct 2015 #13
Geronimoe Oct 2015 #20
davemac Oct 2015 #21
AzDar Oct 2015 #27
99th_Monkey Oct 2015 #42
GummyBearz Oct 2015 #43
azmom Oct 2015 #28
Maineman Oct 2015 #30
jwirr Oct 2015 #40
Armstead Oct 2015 #45
jwirr Oct 2015 #47
krkaufman Oct 2015 #50

Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 08:29 AM

1. I'll take Krugman and Stiglitz over Taibbi.

 

People want jobs, not financial chaos and uncertainty.

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Response to JaneyVee (Reply #1)

Sat Oct 17, 2015, 09:12 AM

6. You got it exactly backwards

 

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.

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Response to Joe Turner (Reply #6)

Sat Oct 17, 2015, 09:15 AM

11. Right, because what does Krugman know anyway.

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Response to DanTex (Reply #11)

Sat Oct 17, 2015, 09:24 AM

18. Krugman and HRC can be right about shadow banking being the bigger issue

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

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Response to DanTex (Reply #11)

Sat Oct 17, 2015, 11:25 AM

32. Agreed on that.

 

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Response to Joe Turner (Reply #6)

Sat Oct 17, 2015, 10:09 AM

24. Yeah, tell it to Bear Stearns.

 

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

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Response to JaneyVee (Reply #1)


Response to JaneyVee (Reply #1)

Sat Oct 17, 2015, 10:10 AM

26. Until Stiglitz or Ktugman say something critical of her

 

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

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Response to Armstead (Reply #26)

Sat Oct 17, 2015, 10:55 AM

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

... 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

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Response to PotatoChip (Reply #31)

Sat Oct 17, 2015, 11:27 AM

33. Joe Stiglitz is a member of HRC's advising team ...

 

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

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Response to 1StrongBlackMan (Reply #33)

Sat Oct 17, 2015, 11:34 AM

36. Did you read my post? I acknowledged that the subject matter was wealth inequality. (nt)

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Response to PotatoChip (Reply #36)

Sat Oct 17, 2015, 11:52 AM

46. Yes. I was just pointing out that ...

 

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.

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 08:37 AM

2. HRC - Still Beholden To Oligarchs, Corporations And Banks

eom

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Response to cantbeserious (Reply #2)

Sat Oct 17, 2015, 08:49 AM

3. Her supporters refuse to see the obvious.

 

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Response to JRLeft (Reply #3)

Sat Oct 17, 2015, 08:53 AM

4. Agree Completely - In The Zeal To Elect A Female President - Much Has Been Overlooked

eom

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Response to cantbeserious (Reply #4)

Sat Oct 17, 2015, 09:11 AM

5. Yep the PUMA crowd is back. Party Unity My Ass.

 

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Response to JRLeft (Reply #5)

Sat Oct 17, 2015, 09:14 AM

9. The DNC DLC Third Way Establishment Is Apoplectic About A Bernie Presidency

eom

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Response to cantbeserious (Reply #9)

Sat Oct 17, 2015, 11:33 AM

35. and it's not just about the presidency,

 

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

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Response to 99th_Monkey (Reply #35)

Sat Oct 17, 2015, 11:40 AM

39. Yes Agreed - What Would The World Come To Should - Honesty - Integrity - Sincerity - Prevail

eom

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Response to JRLeft (Reply #5)

Sat Oct 17, 2015, 09:14 AM

10. It is back, but now it's made out of Bernie supporters.

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Response to DanTex (Reply #10)

Sat Oct 17, 2015, 09:16 AM

12. Thank You For Insulting Bernie Supporters - Your Loyalties Are Noted For Future Reference

eom

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Response to cantbeserious (Reply #12)

Sat Oct 17, 2015, 09:17 AM

14. "Future Reference" LOL. Yes, I'm a Clinton supporter. You can put that in your database.

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Response to DanTex (Reply #14)

Sat Oct 17, 2015, 09:19 AM

15. Duly Logged And Cataloged - Let The Data Collection And Tracking Begin

eom

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Response to DanTex (Reply #14)

Sat Oct 17, 2015, 11:32 AM

34. LOL ... Some DUers a funny ...

 

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?!!!! "

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Response to DanTex (Reply #10)

Sat Oct 17, 2015, 09:20 AM

16. PUMA'S are HRC supporters with the same behavior as last time. The same arrogance. I can't

 

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.

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Response to JRLeft (Reply #16)

Sat Oct 17, 2015, 09:22 AM

17. The people this time around threatening to sit out the GE if their candidate doesn't win

are Bernie supporters.

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

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Response to DanTex (Reply #17)

Sat Oct 17, 2015, 09:30 AM

19. Yes I've posted that multiple times. I'm willing to hold my nose and for bought and paid for

 

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

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Response to DanTex (Reply #17)

Sat Oct 17, 2015, 10:08 AM

23. Better hurl more insults at them. That'll change their minds! (nt)

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Response to jeff47 (Reply #23)

Sat Oct 17, 2015, 10:09 AM

25. +1

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Response to jeff47 (Reply #23)

Sat Oct 17, 2015, 11:34 AM

37. LOL ... you didn't notice the exchange immediately preceding DanTex's "insult"? ...

 

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Response to 1StrongBlackMan (Reply #37)

Sat Oct 17, 2015, 12:05 PM

49. LOL ... you didn't notice DanTex's last 6 months of posting history? ...

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Response to DanTex (Reply #10)

Sat Oct 17, 2015, 10:38 AM

29. Uh huh

 

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

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Response to pinebox (Reply #29)

Sat Oct 17, 2015, 11:37 AM

38. Wait ... Prior to maybe 6 months ago ...

 

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

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Response to 1StrongBlackMan (Reply #38)

Sat Oct 17, 2015, 11:47 AM

44. Not sure where you get that from

 

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.

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Response to pinebox (Reply #44)

Sat Oct 17, 2015, 11:58 AM

48. Oh ... My bad ...

 

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.

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Response to pinebox (Reply #29)

Sat Oct 17, 2015, 11:42 AM

41. THIS^ Is exactly why Bernie will win the GE, and Hillary may not.

 

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

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Response to DanTex (Reply #10)

Sat Oct 17, 2015, 07:52 PM

51. Critical info

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.

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Response to cantbeserious (Reply #4)

Sat Oct 17, 2015, 09:12 AM

7. +1

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Response to JRLeft (Reply #3)

Sat Oct 17, 2015, 09:13 AM

8. +1

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 09:16 AM

13. Yes, and we will see a return to this very important issue

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

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 09:48 AM

20. Hillary... you lie

 

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.

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 09:48 AM

21. The banksters puppet

 

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

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 10:27 AM

27. Aren't 4 out of 5 of Hillary's top donors connected to Wall st.? Then that makes her a wholly-owned

 

subsidiary...

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

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Response to AzDar (Reply #27)

Sat Oct 17, 2015, 11:45 AM

42. Hey, Hillary told Wall St. to "CUT IT OUT!". That should take care of everything. -nt-

 

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Response to AzDar (Reply #27)

Sat Oct 17, 2015, 11:47 AM

43. Yes

 

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)

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 10:34 AM

28. The banks own her. Enough said.

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 10:39 AM

30. I have to wonder if Bill and Hillary moved to that part of New York so she could

"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.

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 11:42 AM

40. This article is well worth a full read.

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Response to jwirr (Reply #40)

Sat Oct 17, 2015, 11:50 AM

45. Agreed...I keep posting this graphic because it shows the problem clearly

 

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



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Response to Armstead (Reply #45)

Sat Oct 17, 2015, 11:55 AM

47. Yes, I have seen that when you posted it before. We actually

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.

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Response to Cassiopeia (Original post)

Sat Oct 17, 2015, 07:47 PM

50. Just recall HRC's enemies list...

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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