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Reply #5: Summers, Greenspan, Rubin.... [View All]

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madfloridian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-30-09 06:52 PM
Response to Reply #4
5. Summers, Greenspan, Rubin....

"Summers, then the deputy secretary of the Treasury, had another idea--as did Robert Rubin, the secretary of the Treasury, and Alan Greenspan, the chairman of the Federal Reserve. These wise men each gazed with horror upon Born's proposed consideration of regulation for derivatives. Speaking for them, on July 30, 1998, Summers testified in the Senate against the notion of the CFTC even pondering rules governing the trading of derivatives. By releasing its memo, the CFTC, Summers complained, "has cast the shadow of regulatory uncertainty over an otherwise thriving market--raising risks for the stability and competitiveness of American derivative trading."
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  -Larry Summers' words from 1999 on the repeal of Glass-Steagal. Interesting. madfloridian  Mar-30-09 05:20 PM   #0 
  - Wellstone stikes again, I see.  Toucano   Mar-30-09 05:26 PM   #1 
  - I wouldn't...Kerrey is like a recurring nightmare.  PassingFair   Mar-31-09 07:13 AM   #21 
     - That was an unbelievable statement by Kerrey.  madfloridian   Mar-31-09 02:34 PM   #29 
  - More against it then.  madfloridian   Mar-30-09 06:07 PM   #2 
  - that is some great information, a rare and outstanding handful of names  G_j   Mar-30-09 09:01 PM   #14 
  - And they are now vindicated.  madfloridian   Mar-30-09 10:56 PM   #17 
  - Clinton Signed It With Great Relish  MannyGoldstein   Mar-31-09 05:12 AM   #20 
     - "handed the signing pen to the CEO of Citi Group"  madfloridian   Mar-31-09 10:31 AM   #22 
     - OH, yeah, I remember that.  closeupready   Mar-31-09 04:23 PM   #30 
     - Of course it's a coincidence.  closeupready   Mar-31-09 04:24 PM   #31 
  - Senator Dorgan today...  slipslidingaway   Mar-30-09 06:28 PM   #3 
  - Summers on regulating derivatives - 1998  slipslidingaway   Mar-30-09 06:33 PM   #4 
  - Summers, Greenspan, Rubin....  madfloridian   Mar-30-09 06:52 PM   #5 
  - And President Obama's new nominee to head the CFTC  slipslidingaway   Mar-30-09 07:06 PM   #6 
     - Seeing a pattern develop here? nt  Marie26   Mar-30-09 07:07 PM   #7 
        - I do... must be crazy :)) n/t  slipslidingaway   Mar-30-09 07:49 PM   #9 
  - How about a dem "slips" some regulation legislation, via the "back room maneuver" if necessary, &  gulfcoastliberal   Mar-30-09 07:16 PM   #8 
     - That would be nice, some of same people who fought regulation  slipslidingaway   Mar-30-09 07:51 PM   #10 
  - Wellstone and Dorgan  malaise   Mar-30-09 07:52 PM   #11 
  - Link to legislation, there was the original bill and then the vote  slipslidingaway   Mar-30-09 08:49 PM   #12 
     - Thanks  malaise   Mar-30-09 09:04 PM   #15 
        - YW, not expecting to hear anything from the others, also Dorgan  slipslidingaway   Mar-30-09 09:17 PM   #16 
  - Thank you, posthumously, Paul Wellstone...again... nt  G_j   Mar-30-09 08:53 PM   #13 
  - We need more Wellstones.  madfloridian   Mar-30-09 11:56 PM   #18 
  - Economically, Summers Is A Malignant Tumor  MannyGoldstein   Mar-31-09 05:10 AM   #19 
  - No joke. Even today. Summers Missed The Crisis.  chill_wind   Mar-31-09 01:54 PM   #27 
  - And this is who has Obama's ear?  kentuck   Mar-31-09 10:34 AM   #23 
  - It appears that way.  madfloridian   Mar-31-09 11:05 AM   #24 
  - "Are we all chumps?" Bill Moyers. "Well, seems that way" -Simon Johnson on PBS  FailureToCommunicate   Mar-31-09 11:46 AM   #25 
  - Impressed by Greider  madfloridian   Mar-31-09 01:50 PM   #26 
     - You're welcome. I forgot to say "thanks" for your OP.  FailureToCommunicate   Mar-31-09 02:01 PM   #28 
  - kick  G_j   Mar-31-09 04:51 PM   #32 
  - Why  The Leveller   Mar-31-09 04:52 PM   #33 
  - It's always different  Turbineguy   Mar-31-09 05:16 PM   #34 
  - Yeah all those STUPID greedy fuckers with their millions in paid-for homes, property,  bertman   Mar-31-09 05:41 PM   #36 
  - DUers tell me if you think this is true....  roseBudd   Mar-31-09 05:39 PM   #35 
  - This is all part of President Obama's PLAN to lull the Wall Street Wizards into thinking that  bertman   Mar-31-09 05:46 PM   #37 
  - Never forget what Summers said.  madfloridian   Apr-04-09 03:12 PM   #38 

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