Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Video & Multimedia
In reply to the discussion: Who Repealed the Glass-Steagall Act? [View all]Octafish
(55,745 posts)62. Strange how it's OK for Banksters to loot trillions and toss millions from their homes...
What's not OK is to help Detroit or Puerto Rico when bankrupted by predatory Wall Street loans and disastrous state and national policies.
Neil Barofsky, then-IG for TARP, explained current cornucopia of corruption.
For those lacking integrity, a pot of gold awaits...
Neil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've Ever Heard
Linette Lopez
Business Insider, Aug. 1, 2012, 2:57 PM
Neil Barofsky was the Inspector General for TARP, and just wrote a book about his time in D.C. called Bailout: An Insider Account of How Washington Abandoned Main Street While Rescuing Wall Street.
SNIP...
Bottom line: Barofsky said the incentive structure in our nation's capitol is all wrong. There's a revolving door between bureaucrats in Washington and Wall Street banks, and politicians just want to keep their jobs.
For regulators it's something like this:
[font color="green"]"You can play ball and good things can happen to you get a big pot of gold at the end of the Wall Street rainbow or you can do your job be aggressive and face personal ruin...We really need to rethink how we govern and how regulate," Barofsky said.[/font color]
CONTINUED... http://www.businessinsider.com/neil-barofsky-2012-8
...For those with integrity, along with most everyone else, it's Austerity Time for Ever -- until We the Proles do something about it.
Edit history
Please sign in to view edit histories.
63 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Either converse and say something, or think of questions that have a point...
MrMickeysMom
Jun 2016
#21
I, initially, was asking how, or why, President Bill Clinton's signing the repeal of G-S ...
1StrongBlackMan
Jun 2016
#40
Or, maybe, that she had anything to do with the repeal. There is that possibly. No?
1StrongBlackMan
Jun 2016
#43
Whether she did or did not, she's now on record as being against re-reinstating it as Bernie wants.
whathehell
Jun 2016
#51
Isn't Bill the one that Sen Clinton says will be in charge of the economy?
Winston.Smith
Jun 2016
#52
That is factually incorrect ... The shadow banks were unafected by G-S ...
1StrongBlackMan
Jun 2016
#24
That is the corporate talking points. They desperately wanted Bill Clinton to sign
rhett o rick
Jun 2016
#25
I will respond, though it has been explained time, and time and time again ...
1StrongBlackMan
Jun 2016
#23
You are defending those that made an easy $12 trillion dollars that came from the middle
rhett o rick
Jun 2016
#26
Why then was it so important to repeal it? Your rationalization comes directly from those that
rhett o rick
Jun 2016
#37
Those 25 people are much wealthier today. The rest of us not so much. We really have become
floriduck
Jun 2016
#3
Sheldon Adelson the casino operator saw his fortune grow $2 billion in one day.
Octafish
Jun 2016
#32
Strange how it's OK for Banksters to loot trillions and toss millions from their homes...
Octafish
Jun 2016
#62
Watch Bill Clinton, Larry Summers, and Phil Gramm Have a Love Fest Over Repeal of Glass Steagall
Octafish
Jun 2016
#34
The result is far from an open and shut case of what caused the collapse and you know it.
The_Casual_Observer
Jun 2016
#57