2016 Postmortem

jwirr

(39,215 posts)

93. That is my point. Glass-Steagell did not allow that. But Hillary does not want to reinstate it. No

Fri Jul 17, 2015, 10:49 AM

Jul 2015

one would be stopped from investing in risky transactions IF they want to with their own money. But Glass-Steagell would not allow the banks to use our money to do that. Investors may still want to invest overseas but it would be the investor that made this decision not the banker who can take everything in his bank and make the gamble.

When we had small local banks under the Glass-Steagell act those banks had to keep depositors money in the community. This did three things - it protected the depositor, stimulated investment in the local community and kept FDIC viable. Also back then if a bank went down it was one small bank not the whole system. Today as we saw in 2008 if the big bank goes down everyone loses, much of the money is invested overseas anyhow and the FDIC could not cover the huge problem with the big banks so we ended up adding money for a bailout.

I do not see how this is a pony. This is common sense.

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Please stop telling me I'm voting for Sanders because I'm a purist who wants a pony. [View all] mmonk Jul 2015 OP

Well said! el_bryanto Jul 2015 #1

No, Hillary understands that "breaking up the banks" won't do any good... Sancho Jul 2015 #11

Thanks for that non sequitur and wall of text el_bryanto Jul 2015 #20

^^^what he said ^^^ peacebird Jul 2015 #27

Show me in the record where Hillary supported allowing derivatives to be unregulated... Sancho Jul 2015 #34

Money Quote - "Hillary (who represented Wall Street as a Senator)" el_bryanto Jul 2015 #47

Hillary could not attack her constituents as a Senator any more than Bernie... Sancho Jul 2015 #57

Bankers are destroying more lives than guns these days. Erich Bloodaxe BSN Jul 2015 #62

+10000000000000 azmom Jul 2015 #115

I disagree with your premise... Sancho Jul 2015 #122

He isn't just shouting about banks. passiveporcupine Jul 2015 #151

if you like violence... pocoloco Jul 2015 #88

I thought it was Scotland. Spitfire of ATJ Jul 2015 #127

Scotland may be bad also, but England is usually quoted as the utopia. pocoloco Jul 2015 #138

You mean by the right-wing. Spitfire of ATJ Jul 2015 #145

LOL pocoloco Jul 2015 #153

Okay,....ACCORDING to the right-wing.... Spitfire of ATJ Jul 2015 #156

Way OT, but I have a shirt that says, "Poco Loco." Fawke Em Aug 2015 #182

Given that you said this: "If Hillary Clinton gets the nomination I'll support her " randys1 Jul 2015 #102

You may want to try and see... Marty McGraw Jul 2015 #128

Wow! There are six organizing meetings within 10 miles of me... hedda_foil Jul 2015 #168

Very Kewl! Marty McGraw Aug 2015 #181

We need the tax on Wall Street trades for mamy reasons. JDPriestly Jul 2015 #172

Sorry, but... elzenmahn Jul 2015 #37

Break the 'To Big To Fail' and finish the job by imprisoning the criminals running them. -none Jul 2015 #58

Clinton is and has always been a populist. Nitram Jul 2015 #106

That is the second time I have seen that meme. zeemike Jul 2015 #38

Yup. Erich Bloodaxe BSN Jul 2015 #59

The thing is, even if we had to change the whole world, I'd still want to vote for Bernie. winter is coming Jul 2015 #80

The reason behind breaking up the Banks imthevicar Jul 2015 #25

How do you plan to break up Chinese, French and German banks? Sancho Jul 2015 #35

Neither is leaving them as-is... elzenmahn Jul 2015 #39

Exactly. We know what our current path has gotten us. Erich Bloodaxe BSN Jul 2015 #63

Why do we have to? The reason for breaking up the banks is so that they can no longer gamble jwirr Jul 2015 #68

Most US money is already gambled by big banks outside of the US... Sancho Jul 2015 #77

That is my point. Glass-Steagell did not allow that. But Hillary does not want to reinstate it. No jwirr Jul 2015 #93

I can't believe people don't know this! BrotherIvan Jul 2015 #111

Unfortunately. One of my professors in college warned our class that Glass-Steagell was the jwirr Jul 2015 #113

Why do you think they wanted to get rid of it? BrotherIvan Jul 2015 #118

Exactly. jwirr Jul 2015 #120

I learned the same thing in high school history class. hedda_foil Jul 2015 #169

Yeah I was a his supporter from the beginning. jwirr Jul 2015 #178

US "banks" like Goldman Sachs ignored Glass-Steagell... Sancho Jul 2015 #126

But if commercial banks and investment banks like Goldman were separate they would be doing jwirr Jul 2015 #132

I think they were using a variety of loopholes to do this before and after G-S Sancho Jul 2015 #143

I think where you and I are disagreeing is that you are talking about the world investment jwirr Jul 2015 #149

We won't have to insure the losses of banks in all those countries if the banks are JDPriestly Jul 2015 #176

And if we have a healthy America the whole world is better off because our investers will not be jwirr Jul 2015 #179

I agree with you on this essential point. JDPriestly Jul 2015 #174

The way that we can deal with foreign banks ... staggerleem Jul 2015 #121

I don't have any problem with leveling the playing field with VAT's or import taxes. Sancho Jul 2015 #123

Stay away from the free-trade Kool-Aid! staggerleem Jul 2015 #180

exactly right! J_J_ Jul 2015 #131

Any Bank that does not adhear to American Law, imthevicar Jul 2015 #170

Defeating the TPP would put the world's financial markets on notice that the American JDPriestly Jul 2015 #173

The super rich only HAVE that money to stash offshore because they have sabrina 1 Jul 2015 #83

Bernie is NOT the only politician to see the "problem". Sancho Jul 2015 #90

What is fucked up is our own Congress has passed laws that REQUIRE anyone living abroad davidpdx Jul 2015 #91

No, no, no, can't break up the banks. Now, let me invite you to partake of some of our jtuck004 Jul 2015 #95

Bill Clinton Should Endorse Bernie billhicks76 Jul 2015 #161

Breaking up the big US banks and not allowing them to gamble, to trade, with JDPriestly Jul 2015 #171

Could agree with you more. 99Forever Jul 2015 #2

Yeah, the 'pony' I want Erich Bloodaxe BSN Jul 2015 #3

It is f'ing beyond comprehension FlatBaroque Jul 2015 #4

+100000 J_J_ Jul 2015 #130

It's such a ridiculous talking point isn't it? K&R. nt stillwaiting Jul 2015 #5

Yes. Silly, sad, and dismissive of real problems affecting real lives. mmonk Jul 2015 #19

Then why tax the retirement of public employees and union members? Sancho Jul 2015 #6

I think that Bernie's FTT would exempt retirement plans and mutual funds. DanTex Jul 2015 #8

Not true...most public retirements trade just like millionaires... Sancho Jul 2015 #13

Yes, they do. But if the FTT law says "retirement funds don't have to pay this" DanTex Jul 2015 #14

I think if you read the proposal, it would affect large public retirement funds. Sancho Jul 2015 #40

I couldn't find Bernie's latest proposal, but here's a previous similar bill introduced in congress. DanTex Jul 2015 #51

Thank you. kenfrequed Jul 2015 #54

link..if state colleges benefited from tuition payment, why exempt them from an FTT? Sancho Jul 2015 #55

It's just the way the accounting works. DanTex Jul 2015 #61

Thank you dreamnightwind Jul 2015 #148

His proposed tax rate is 50 cents per $100 traded. That is a pretty tiny rate. peacebird Jul 2015 #28

More important than that, it would almost surely exempt retirement funds. DanTex Jul 2015 #66

Exactly, and I had assumed it did exclude retirement funds.... Guess I need to research that. peacebird Jul 2015 #75

50 cents per hundred dollars is 1/200th. Erich Bloodaxe BSN Jul 2015 #65

Mutual fund turnover rates average close to 100% per year, maybe 90%. DanTex Jul 2015 #79

Florida's retirement fund is 200 Billion... Sancho Jul 2015 #86

Question about math. SheilaT Jul 2015 #81

Purists who want ponies are the ones who will sit out the GE if the primary doesn't go their way. DanTex Jul 2015 #7

Maybe that's your definition, but many others suggest electing Bernie is wanting ponies. Dawgs Jul 2015 #24

Fine, then I'll take the pony... elzenmahn Jul 2015 #43

Was this meant for me or the post above mine? Dawgs Jul 2015 #60

Seen more than a few people who have a problem with it, actually Scootaloo Jul 2015 #129

I will support the Democratic Nominee no matter what Gothmog Jul 2015 #9

We appreciate your compliance Android3.14 Jul 2015 #18

Are you familiar with the Terms of Service for this board? oberliner Jul 2015 #21

Nope! TM99 Jul 2015 #41

Not a threat oberliner Jul 2015 #46

If I dodn't know better, TM99, I'd think you took great pleasure in dumping on... Nitram Jul 2015 #140

You don't know better. TM99 Jul 2015 #162

And Bernie Sanders IS RUNNING AS A DEMOCRAT... elzenmahn Jul 2015 #44

Yes indeed he is oberliner Jul 2015 #48

Oh looky, we have another bully in the forum Android3.14 Jul 2015 #94

Gee, thanks frylock Jul 2015 #107

Oh, are these your jackboots? Jester Messiah Jul 2015 #150

Why yes; yes, I am! winter is coming Jul 2015 #160

And oh wow, you'd bring down the wrath. But you are missing something. I will always rhett o rick Jul 2015 #167

"we appreciate your compliance?" You sound like an android. Nitram Jul 2015 #108

Why the hate for ponies anyway? blackspade Jul 2015 #10

Yes, clean and abundant water would help since it is essential to life itself. mmonk Jul 2015 #15

Cuz ponies are difficult. tazkcmo Jul 2015 #87

K&R CharlotteVale Jul 2015 #12

It's amazing how many will adopt the con artists' rhetoric... polichick Jul 2015 #16

Please stop telling me you're voting! sofa king Jul 2015 #17

Thank you. SusanCalvin Jul 2015 #100

And you left out gerrymandering. mmonk Jul 2015 #137

+ one million J_J_ Jul 2015 #147

My "pony" is Social Security. My "unicorn" is Medicare. Scuba Jul 2015 #22

I want a ponicorn because I want the Democrats to boot the Republicans cstanleytech Jul 2015 #26

this wing of the party openly called people who want it Greedy Geezers and say we have MisterP Jul 2015 #117

Purist? I wouldnt call you that at all because supporting Bernie is 100% ok just like cstanleytech Jul 2015 #23

+1. Yes. I will vote for Democrats. GoneFishin Jul 2015 #89

I strongly dislike the term "purist" and am now avoiding using it. KittyWampus Jul 2015 #29

You are exactly right, mmonk! Enthusiast Jul 2015 #30

True that. mmonk Jul 2015 #50

I prefer the older name for it. Horse and sparrow. Erich Bloodaxe BSN Jul 2015 #69

+1 jwirr Jul 2015 #76

primary voters should be purists (to they extent each of us is) alc Jul 2015 #31

I don't think you are unreasonable for wanting those things.... Walk away Jul 2015 #32

Deluded? Maedhros Jul 2015 #104

Yes....deluded. Walk away Jul 2015 #155

Waaaah..... BooScout Jul 2015 #33

If she somehow wins the primary, TM99 Jul 2015 #42

I suggest you read the TOS of DU BooScout Jul 2015 #71

Oh FFS, the ToS TM99 Jul 2015 #92

Great. Another hall monitor. frylock Jul 2015 #109

We don't have a nominee yet, do we? HappyMe Jul 2015 #144

You mock those us of who been wrecked by such policy. mmonk Jul 2015 #52

cruelty and mockery of Sanders supporters are the stock in trade carolinayellowdog Jul 2015 #136

I heard empathy was a choice nt artislife Jul 2015 #158

HUGE K & R !!! - THANK YOU !!! WillyT Jul 2015 #36

K & R! SoapBox Jul 2015 #45

Please, stop the whining Politicub Jul 2015 #49

Great response. JoePhilly Jul 2015 #56

Bernie fans are setting new records for use of logical fallacies. I've had to go to the fallacy ref stevenleser Jul 2015 #72

Yep. nt stevenleser Jul 2015 #70

From my perspective, there are many reasons why Hillary is unfit for the Presidency. Maedhros Jul 2015 #105

+1000000 J_J_ Jul 2015 #146

I remember when Obama supporters were accused of treating him as a messiah.. frylock Jul 2015 #110

Never thought I'd hear Right Wing Memes on DU d_legendary1 Jul 2015 #124

Why not both? Roy Rolling Jul 2015 #53

K&R! marym625 Jul 2015 #64

They are still sayin that? iamthebandfanman Jul 2015 #67

How many examples can you point to skepticscott Jul 2015 #73

OK. You're voting for Sanders because you're a lefty who likes almond milk. Arkana Jul 2015 #74

Sorry, us lefties are voting for Bernie because we and those we love cannot afford almond milk. jwirr Jul 2015 #85

Obama colsohlibgal Jul 2015 #78

LGBTers once wanted ponies Prism Jul 2015 #82

Yep. That's the first thing I thought of. nt SusanCalvin Jul 2015 #101

All true....I'm so tired of the third way finger wagging. nt haikugal Jul 2015 #114

Gee, yesterday it was about "stop telling me I will vote for Hillary because I am a woman" still_one Jul 2015 #84

Well, you know, you can count on one or more OPs telling us very sternly that we better djean111 Jul 2015 #96

I have no doubt. I am waiting for the one on Donald Trump though. I really love this Kabuki show still_one Jul 2015 #97

Oooh! You reminded me! I have not seen a "Say Hello to President Trump!" as yet. djean111 Jul 2015 #98

but. but but olddots Jul 2015 #99

I admit it HassleCat Jul 2015 #103

Stop bashing the Pony Community! Indepatriot Jul 2015 #112

always talkin' 'bout the Pride of Krakow, eh? MisterP Jul 2015 #166

Merchants of doubts!!! azmom Jul 2015 #116

Anything that is not right wing AgingAmerican Jul 2015 #119

I've gotten called names already PatrynXX Jul 2015 #125

Besides that, ponys are terrible on a hardwood floor. Spitfire of ATJ Jul 2015 #133

Not if they're unicorn ponies; those poop floor wax. nt Xipe Totec Jul 2015 #134

Correction: a floor wax that is also a dessert topping. n/t winter is coming Jul 2015 #159

Notice that the "pony" argument always comes from the right side of the target candidate? arcane1 Jul 2015 #135

Certainly. It means we don't care what you want or need or the country. mmonk Jul 2015 #139

With all due respect, it wouldn't be so rough around here if some Bernie fans DID "ask for these calimary Jul 2015 #141

with all due respect, from a very lukewarm Sanders supporter carolinayellowdog Jul 2015 #152

No, the Bush and GOP crashed the economy and sent facotres over sea! lewebley3 Jul 2015 #142

Mmonk, you are a very decent person who cares. PowerToThePeople Jul 2015 #154

"You're a purist!" Lordquinton Jul 2015 #157

I'd reather be a purist who wants a pony intheflow Jul 2015 #163

Hillary represents everything that is wrong with Wall Street... she is an opportunist, it will whereisjustice Jul 2015 #164

I'm voting for Sanders because I want single payer healthcare and expanded Social Security. PatrickforO Jul 2015 #165

I'm not a purist, but I DO want a Pony! And Hillary says John Poet Jul 2015 #175

This is not an official quote PATRICK Jul 2015 #177