You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #7: the pertinent part of G-S that was repealed only allowed Citi to grow larger [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-03-11 10:25 AM
Response to Original message
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 the pertinent part of G-S that was repealed only allowed Citi to grow larger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.
Printer Friendly | Permalink |  | Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC