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Reply #7: the pertinent part of G-S that was repealed only allowed Citi to grow larger [View All]

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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-03-11 10:25 AM
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7. the pertinent part of G-S that was repealed only allowed Citi to grow larger
It had no effect on stand-alone Investment banks who failed (Bear, Lehman, Merrill) - they had no Federally insured deposits to protect.

Also, WaMu, Countrywide and other mortgage banks had no Investment banks - again G-S would not have saved them.

If, LIKE CANADA, we had a properly regulated MORTGAGE loan process, we would have been fine! Hopefully, Warren and the CPFB will help us go in that direction.
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  -Too Big to Fail, Too Big to Prosecute What Kind of Country Permits that Kind of Nonsense? Time for change  Jul-03-11 10:01 AM   #0 
  - The 1 that allowed Reagan to dismantel the Sheman AntiTrust laws  FreakinDJ   Jul-03-11 10:04 AM   #1 
  - @ this juncture there's not a hairs breadth of difference between the government &  xchrom   Jul-03-11 10:05 AM   #2 
  - K&R Great post - thanks! The saddest part imo is how "our" party...  polichick   Jul-03-11 10:07 AM   #3 
  - +1  MissDeeds   Jul-03-11 04:58 PM   #38 
  - neither party is "our" party...  tomp   Jul-04-11 09:34 AM   #65 
     - I agree - that's why I put the word OUR in quotes. The good news is that more and more...  polichick   Jul-04-11 10:24 AM   #74 
  - A country that is entirely corrupt, that's what kind. nt  Nay   Jul-03-11 10:10 AM   #4 
  - a fascist country. Happy 4th! nt  tomp   Jul-04-11 09:34 AM   #66 
  - Bookmarked, thank you!  Rosa Luxemburg   Jul-03-11 10:16 AM   #5 
  - K&R  Tippy   Jul-03-11 10:25 AM   #6 
  - the pertinent part of G-S that was repealed only allowed Citi to grow larger  banned from Kos   Jul-03-11 10:25 AM   #7 
  - Investment banks were merging with commercial to gain protection  azul   Jul-03-11 11:22 AM   #11 
     - thanks. yeah - the big public I-bank model died in 2008  banned from Kos   Jul-03-11 11:46 AM   #13 
  - The New York Daily News Jan. 1 1980 headlines read " Carter say's Less for 80's "  orpupilofnature57   Jul-03-11 10:33 AM   #8 
  - Two systems of justice are very dangerous. Thank you for this very  The Big Vetolski   Jul-03-11 10:52 AM   #9 
  - A fine summary.  Kaleko   Jul-03-11 12:12 PM   #15 
  - Welcome to DU - like your handle  Divernan   Jul-03-11 08:04 PM   #49 
  - Thanks, Dude! nt  The Big Vetolski   Jul-03-11 10:17 PM   #54 
  - self-delete, wrong spot.  tomp   Jul-04-11 09:38 AM   #67 
  - A country at the mercy of corporate power.  azul   Jul-03-11 11:11 AM   #10 
  - The corporations say to the people, "it's the economy, stupid"?  Zax2me   Jul-04-11 09:44 AM   #69 
  - HUGE K & R !!!  WillyT   Jul-03-11 11:23 AM   #12 
  - It's the one that wasn't watching who allowed us to be vulnerable to a systemic failure  dkf   Jul-03-11 12:11 PM   #14 
  - The "regulators" ...  bvar22   Jul-03-11 01:50 PM   #24 
  - You got it.  dkf   Jul-03-11 03:30 PM   #32 
  - But Obama still isn't regulating them nearly well enough.  JDPriestly   Jul-03-11 07:56 PM   #48 
  - A fascist one  Doctor_J   Jul-03-11 12:14 PM   #16 
  - K&R! Great job!  Enthusiast   Jul-03-11 12:16 PM   #17 
  - KNR.  leveymg   Jul-03-11 12:23 PM   #18 
  - Don't forget BP, their reckless behavior killed 11 men.  Eddie Haskell   Jul-03-11 12:31 PM   #19 
  - K&R. I'm still flabbergasted on how extreme the destruction has become.  Overseas   Jul-03-11 12:40 PM   #20 
  - They can afford to be extreme because they know that the corporate owned communications media  Time for change   Jul-04-11 10:19 AM   #73 
     - So true. So sad.  Overseas   Jul-04-11 05:02 PM   #77 
  - I suspect moving corporate crime away from criminal courts  fivepennies   Jul-03-11 12:46 PM   #21 
  - Plus deregulation of the banking industry worlwide means there will be only a few  applegrove   Jul-03-11 12:55 PM   #22 
  - It's a plutocracy.  begin_within   Jul-03-11 01:16 PM   #23 
  - We have government by bribery.  Liberal In Texas   Jul-03-11 01:58 PM   #25 
  - Too Big to Fail is now the Holy Grail of Corporations.  bvar22   Jul-03-11 02:04 PM   #26 
  - Democracy Incorporated: Managed Democracy and the specter of inverted totalitarianism.  Fuddnik   Jul-03-11 02:12 PM   #27 
  - Ironic that the federal government isn't too big to fail  andym   Jul-03-11 02:41 PM   #28 
  - K&R  rpannier   Jul-03-11 02:42 PM   #29 
  - Who here thinks too big to fail is a problem, yet has not  davidwparker   Jul-03-11 02:47 PM   #30 
  - We once were a country of laws... now the law only applies to anyone  AsahinaKimi   Jul-03-11 02:56 PM   #31 
  - Indeed. This has long been the case within the Italian government, which is why  Lorien   Jul-03-11 03:30 PM   #33 
  - Not quite  a2liberal   Jul-03-11 04:40 PM   #36 
  - OR...we "THOUGHT" were a COUNTRY OF LAWS..and revelations have proved  KoKo   Jul-03-11 07:06 PM   #43 
  - same kind that gives 1000 coordinated pro-corporate radio stations a free speech free ride  certainot   Jul-03-11 03:52 PM   #34 
  - The Greek people have wised up.  Dawson Leery   Jul-03-11 03:59 PM   #35 
  - Great post. On the plus side, Lee Farkas of Taylor Bean & Whitaker was sentenced to 30 years.  bluesbassman   Jul-03-11 04:44 PM   #37 
  - Thanks for the great post.  russspeakeasy   Jul-03-11 05:44 PM   #39 
  - A criminal enterprise...that's what kind.  RagAss   Jul-03-11 05:49 PM   #40 
  - A country run by neocons and NeoDems.  Jakes Progress   Jul-03-11 06:22 PM   #41 
  - a ..."Something Wicked Comes this WAY"...kind of country...  KoKo   Jul-03-11 07:05 PM   #42 
  - A dying country, that's what kind....  Grrrfun   Jul-03-11 07:08 PM   #44 
  - K&R  hay rick   Jul-03-11 07:31 PM   #45 
  - Rec'd, I suggest anyone who thinks TARP was the problem needs to read this  StarburstClock   Jul-03-11 07:39 PM   #46 
  - Compared to The People .....who as we all know are  radhika   Jul-03-11 07:43 PM   #47 
  - K&R. Move to Amend:  Avalux   Jul-03-11 08:09 PM   #50 
  - knr nt  guruoo   Jul-03-11 09:52 PM   #51 
  - K&R  Solly Mack   Jul-03-11 09:52 PM   #52 
  - I love reading posts like this on DU  Cali_Democrat   Jul-03-11 10:12 PM   #53 
  - I know, I know! Fascists states! nt  valerief   Jul-03-11 10:59 PM   #55 
  - Unregulated capitalism is merely organized crime -- that's where we are now ...  defendandprotect   Jul-03-11 11:47 PM   #56 
  - And yet I'm told I'm suppose to be a proud american  donheld   Jul-04-11 12:37 AM   #57 
  - I suppose you can be proud to be American for a day.  Quantess   Jul-04-11 03:23 AM   #58 
  - Watching a fireworks display on the DU is beautiful and patriotic.  Eddie Haskell   Jul-04-11 10:12 AM   #71 
  - K & R  democrank   Jul-04-11 04:35 AM   #59 
  - Too Big To Even Investigate  kentuck   Jul-04-11 06:20 AM   #60 
  - That's off the table.  Dept of Beer   Jul-04-11 09:51 AM   #70 
  - It's not Obama, it's the system.  Eddie Haskell   Jul-04-11 10:19 AM   #72 
  - Bookmarked for reading tomorrow  me b zola   Jul-04-11 06:55 AM   #61 
  - k&r and bkmrkd. n/t  Tuesday Afternoon   Jul-04-11 08:41 AM   #62 
  - The Orwellian bullshit proceeds apace  somone   Jul-04-11 08:46 AM   #63 
  - Thank you for taking the time and making the effort to explain this.  potone   Jul-04-11 09:10 AM   #64 
  - I believe that the root problem is that it is LEGAL in our country to give huge sums of money to  Time for change   Jul-04-11 10:26 AM   #75 
  - as for Goldman's "sheer balls"....  tomp   Jul-04-11 09:40 AM   #68 
  - Exactly  Time for change   Jul-04-11 10:29 AM   #76 
  - Kick, 'cause it's too late to rec  Demeter   Jul-04-11 08:11 PM   #78 
  - BIG KICK. Excellent post, Time for change. nt  bertman   Jul-04-11 10:21 PM   #79 

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