2016 Postmortem

elleng

(130,825 posts)

52. Prevent another Crash: Reform Wall Street. MARTIN O'MALLEY

Tue Jul 7, 2015, 11:36 PM

Jul 2015

We were forced to save our economy by bailing out big banks. Now, we have a responsibility to correct the mistakes of our more recent past to prevent another crash.

To do that, we must acknowledge that — while it addressed inherent flaws in the financial system — the 2010 Dodd-Frank Act did not go far enough.

The most serious structural reform we can make is reinstating the 1933 Glass-Steagall Act that kept commercial banks separate from investment banks. Under Glass-Steagall, our country did not see a major financial crisis for nearly 70 years. If that law hadn’t been repealed in 1999, the crash would have been contained.

The largest banks should be broken up into more manageable institutions.

http://www.desmoinesregister.com/story/opinion/columnists/caucus/2015/03/20/prevent-another-crash-reform-wall-street/25057735/

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Hillary Folks: Sen Sanders wants to Break up Big Banks. Where does Sec Clinton Stand on this Issue? [View all] grahamhgreen Jul 2015 OP

If you have to ask, bvar22 Jul 2015 #1

lol. You'd think one of her think tank members could step up to the plate with an answer. If they grahamhgreen Jul 2015 #2

why step up to the plate, when you have a stone wall? nt HFRN Jul 2015 #151

Can I use that? rbnyc Jul 2015 #60

^^ LOL!!! nt HFRN Jul 2015 #150

45 minutes of crickets hootinholler Jul 2015 #3

Yeah, and that team of advisors MissDeeds Jul 2015 #7

You know Hillary, she always stands with average people like us LittleBlue Jul 2015 #4

Excellent Effort grahamhgreen. So sad they can't respond. 2banon Jul 2015 #5

Not breaking up big banks I guess? Rosa Luxemburg Jul 2015 #6

I suggest you ask her. George II Jul 2015 #8

She is running, right? You guys care about her policy Ed Suspicious Jul 2015 #10

Yes she's running, and I'm pretty sure no members of DU are running or are on her campaign... George II Jul 2015 #14

I'm asking you. Do you know where she stands on this issue? grahamhgreen Jul 2015 #39

So we can't talk about non-issues... rbnyc Jul 2015 #62

I thought all the Clinton supporters should know where she stands! Man of Distinction Jul 2015 #11

Sanders waited until May 2015 to start "breaking up banks"? JaneyVee Jul 2015 #9

Maybe he had to evolve on the issue. Ed Suspicious Jul 2015 #12

He introduced legislation in 2009 to break up the banks AgingAmerican Jul 2015 #54

And it failed, even with Democratic majorities in both houses. So what is different today... George II Jul 2015 #77

I've never heard it stated so clearly. Thanks. bvar22 Jul 2015 #116

A huge.... Springslips Jul 2015 #129

I think he started much earlier than that.. Man of Distinction Jul 2015 #13

You're correct. But if he introduced that legislation in 2009 when the Democrats.... George II Jul 2015 #16

What makes it sad?… MrMickeysMom Jul 2015 #26

If he couldn't get legislation passed while IN the congress.... George II Jul 2015 #33

So being president is on the outside then. zeemike Jul 2015 #37

There are three branches of United States Government... MrMickeysMom Jul 2015 #47

HE couldn't get it past a right wing Democratic party AgingAmerican Jul 2015 #55

His plan is also to retake the House and Senate..... virtualobserver Jul 2015 #57

And then he'll fly to the moon on gossamer wings. Arkana Jul 2015 #70

get back with me after he wins the nomination virtualobserver Jul 2015 #73

The Democratic Party and Democratic Representatives/Senators were "right wing" in 2009? George II Jul 2015 #76

We're being told that he is has "leadership qualities", and people are now touting this 2015.... George II Jul 2015 #75

It is a sad commentary on the most of the rest of the Dems in Congress. It was a sensible bill Luminous Animal Jul 2015 #34

Conversely, I think it's a sad commentary on the Party we're supporting. 2banon Jul 2015 #69

WHERE DOES HILLARY STAND ON THIS ISSUE? grahamhgreen Jul 2015 #40

How can anyone comparison shop if we can't inspect the product? nc4bo Jul 2015 #67

While your at it, ask them where she stands on Publicly Funded Elections vs. Super Pacs and Dustlawyer Jul 2015 #15

Does she believe in Motherhood and a chicken in every pot? George II Jul 2015 #35

If you need to know that, ask her. bvar22 Jul 2015 #113

She stands with both hands out at the corner of Wall Street and Third Way Way Indepatriot Jul 2015 #17

MISOGYNIST! OnyxCollie Jul 2015 #18

brocialist! 93% the same! MisterP Jul 2015 #48

Bernie Eatacig Jul 2015 #19

Are you seriously comparing Bernie to Herbert Hoover or am I missing something here? Ed Suspicious Jul 2015 #29

"a chicken in every pot" was Huey Long's famous slogan for his election to Governor. bvar22 Jul 2015 #120

Then he likely appropriated the phrase from the 1928 Hoover campaign. Thanks for clearing that up Ed Suspicious Jul 2015 #122

I absolutely agree with Bernie on this. It should have been done long ago but especially after they sabrina 1 Jul 2015 #20

How Dare You !! CTBlueboy Jul 2015 #21

good article here on bernie/hillary voting differences restorefreedom Jul 2015 #22

Maybe a reporter will ask this question? abelenkpe Jul 2015 #23

Interesting ismnotwasm Jul 2015 #24

Reining in run-away capitalism is now a libertarian plot! [n/t] Maedhros Jul 2015 #119

Poor hillary wilsonbooks Jul 2015 #25

She should take a clear stand on the issue. Yes or No. pa28 Jul 2015 #27

LOL - those big banks are clogging up the plumbing! PatrickforO Jul 2015 #31

This makes me smile. nt SusanCalvin Jul 2015 #43

No, she shouldn't. She is running for President of the USA, Darb Jul 2015 #64

She shouldn't take a clear stand? ljm2002 Jul 2015 #68

A majority of Americans support breaking up the big banks. pa28 Jul 2015 #82

Where does she stand on this issue? grahamhgreen Jul 2015 #104

You aren't allowed to know. If you did it would risk her election chances - so says the poster a Ed Suspicious Jul 2015 #123

And they think she can get elected on a platform of vapor. grahamhgreen Jul 2015 #137

She was the Senator from New York, and rateyes Jul 2015 #28

Well, here's a happy little article on Common Dreams that might shed some light on your question: PatrickforO Jul 2015 #30

That sums up my feelings nicely bobbobbins01 Jul 2015 #36

Chase is largest US bank but only 7th in the world Progressive dog Jul 2015 #32

What does the world have to do with OUR banking system? zeemike Jul 2015 #42

So just US banks get broken up since Progressive dog Jul 2015 #49

That's nonsense the dollar is the reserve currency of the world. zeemike Jul 2015 #56

hmmm, you are aware there's more money in Caribbean banks than in NYC? Sancho Jul 2015 #72

So with moniplistic big banks in the US we have more off shore money. zeemike Jul 2015 #90

You need international agreements to get a handle on the big banks... Sancho Jul 2015 #91

You need international agreements to get a handle on the big banks? bvar22 Jul 2015 #121

Yep...and Iceland didn't have piles of private and corporate dollars in Samoa... Sancho Jul 2015 #130

The MOST imprtant component of your plan... bvar22 Jul 2015 #132

I'm sorry but you have not explained just why we cannot break up our big banks. zeemike Jul 2015 #133

One reason is that Florida (for example) has 200 billion in employee retirement in those banks. Sancho Jul 2015 #134

So what you are saying is they hold us hostage. zeemike Jul 2015 #135

No, they don't steal the money... Sancho Jul 2015 #136

Well right if someone takes your money they are a winner zeemike Jul 2015 #145

So you are saying US banks are different Progressive dog Jul 2015 #146

Yes obviously they are different. zeemike Jul 2015 #147

So you just want to get even with US Banks Progressive dog Jul 2015 #148

No I want US banks to work for us not the world elite. zeemike Jul 2015 #149

There is no bank monopoly, Progressive dog Jul 2015 #153

Don't put em on the spot JackInGreen Jul 2015 #38

It's why they'll lose. They can't even say if she's for or against it. Sad. grahamhgreen Jul 2015 #41

Not can't, won't. nt SusanCalvin Jul 2015 #44

For your enjoyment while we await a response. Tommymac Jul 2015 #45

Just to put this to rest, I will answer it for Hillary ... nikto Jul 2015 #46

And this becomes extremely important, because sadoldgirl Jul 2015 #50

According to CNN interview she has 'her own plan' but ducked th question on point Jul 2015 #51

...and Nixon had his own secret plan for ending the VietNam War. bvar22 Jul 2015 #154

Prevent another Crash: Reform Wall Street. MARTIN O'MALLEY elleng Jul 2015 #52

Well, that is what Bernie has proposed since 2009 sadoldgirl Jul 2015 #53

''For goodness' sake'' Ichingcarpenter Jul 2015 #58

Well, I'd sure like to know. raouldukelives Jul 2015 #59

So, Sanders has been ineffective on this and many other issues. Evergreen Emerald Jul 2015 #61

We have ourselves to blame... rbnyc Jul 2015 #65

Maybe. hootinholler Jul 2015 #71

oh lordy are you listening to yourself? Sheepshank Jul 2015 #86

This message was self-deleted by its author bvar22 Jul 2015 #114

No you misunderstood me hootinholler Jul 2015 #118

oh alrighty then...that I do understand n/t Sheepshank Jul 2015 #124

WHERE DOES HILLARY STAND ON THIS ISSUE? grahamhgreen Jul 2015 #102

She says no because it is a stupid idea to propose that will lose the election for her. Darb Jul 2015 #63

We will fucking see. rbnyc Jul 2015 #66

Obviously Bernie is on the right track with this issue and it is an almost certainty Hillary randys1 Jul 2015 #79

I'm not worried about that. rbnyc Jul 2015 #80

Link to her position? grahamhgreen Jul 2015 #105

Hillary is aware that breaking up US Banks will accomplish nothing. Sancho Jul 2015 #74

The banks have gotten even bigger than they azmom Jul 2015 #78

But the big money is already offshore... Sancho Jul 2015 #81

Why the hell did we bail them out then? azmom Jul 2015 #84

It was a compromise - and it worked in part. Sancho Jul 2015 #85

We bailed them out because they azmom Jul 2015 #87

Would it prevent them from being "too big to fail"? Yes or no. grahamhgreen Jul 2015 #106

What anyone proposes is not an issue, it's what you can deliver. Sanders himself acknowledged this stevenleser Jul 2015 #83

herein lies the problem with this thread Sheepshank Jul 2015 #88

Pure rhetoric silliness. aspirant Jul 2015 #93

I see you're still around. Sheepshank Jul 2015 #94

If you listen closely aspirant Jul 2015 #96

LOL, exactly. stevenleser Jul 2015 #97

Where does Hillary stand on this issue? For or against, it ain't rocket science. grahamhgreen Jul 2015 #108

Where is Bernie on Israel, and on the Israeli boycott, I haven't heard him say anything so I assume still_one Jul 2015 #111

Deviate much aspirant Jul 2015 #126

no different then this OP, setting up a sound bite so if Hillary doesn't comment immediately on still_one Jul 2015 #131

No, I'd like to know her position. For, against, none, which one? grahamhgreen Jul 2015 #139

It hasn't been asked as far as I am aware still_one Jul 2015 #142

the same place she stands on giving everyone a diamond mine. It doesnt matter because it cannot stevenleser Jul 2015 #112

Deviate much? aspirant Jul 2015 #127

Yes, we can. grahamhgreen Jul 2015 #140

Absolutely. Also, it is an excuse to setup a straw man argument against Hillary. I could do the still_one Jul 2015 #109

it sure as hell IS an issue ibegurpard Jul 2015 #89

What do you "deliver," not "propose" aspirant Jul 2015 #92

In other words, you can refute what I said and raise that canard instead. LOL. stevenleser Jul 2015 #95

"in other words" aspirant Jul 2015 #98

I translated your words perfectly. Raising canard = you gave up. nt stevenleser Jul 2015 #99

Are you a translator too? aspirant Jul 2015 #101

Yup. You make it easy when you deviate from the topic to attack me personally. It means stevenleser Jul 2015 #103

Deviations aren't one of your specialities, aspirant Jul 2015 #115

What does that even mean? Bobbie Jo Jul 2015 #143

Where does she stand on this issue? It's not a difficult question. grahamhgreen Jul 2015 #107

On what issue? What Bernie can't deliver? How about making everyone be able to fly? stevenleser Jul 2015 #110

Deviate much? aspirant Jul 2015 #117

Is that her position? Link? grahamhgreen Jul 2015 #141

Does she think that having banks that are too big to fail are good or bad for America? grahamhgreen Jul 2015 #144

Purely rhetorical question. libdem4life Jul 2015 #100

lol...and the responses where all rhetoric, too Sheepshank Jul 2015 #125

Pretty much. libdem4life Jul 2015 #128

I'd like to know where she stands on this important issue. grahamhgreen Jul 2015 #138

Here's what she has on the issue on her website... PoliticAverse Jul 2015 #152

Any specifics on her additional steps? grahamhgreen Jul 2015 #156

she stands on the tarmac, next to their jets HFRN Jul 2015 #155