2016 Postmortem
In reply to the discussion: Hillary Clinton opposes breaking up the megabanks, opposes reinstating Glass-Steagall [View all]Hoyt
(54,770 posts)the TPP was so secret that we wouldn't see it for years AFTER it was passed, which was a blatant lie.
They should have known that; or were, again, playing to their uniformed constituents. Then, when that was shown to be a lie that they couldn't get around, they moved on to other bull that was equally misleading and designed to confuse the public for their own gain.
Fact is, banks have not been free to use deposits for anything but highly collateralized loans for decades. Up until the housing market caved, from speculation, loans provided to people with a high likelihood of not being credit worthy if the houses value didn't continue to increase (which was supported by a lot of people who wanted everyone to have a shot at owning a home), etc. Now, those type loans are closely reviewed. Point is, with the Volcker Rule, Dodd-Frank, and closer scrutiny of bank reserves and loans, it's a lot less likely we'll run into that problem again. Other problems, probably.
By the way, I'm a big supporter of Bernie Sanders idea of pivoting toward Scandinavian countries. I just don't think he can get us there, much less be elected. Warren -- maybe she'll get a serious role in Clinton's admin.