MrRodgers
Posts: 10542
Joined: 7/30/2005 Status: offline
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quote:
ORIGINAL: vincentML I agree. Would love to see a Bernie/Warren ticket in November. Hillary is a sell-out to the financial industry. Lest we forget it was Bill who killed the Glass-Steagall Act provisions and appointed Allen Greenspan, whose neo-liberalism lead to the 2007/2008 housing market and financial market debacle. Hillary was in the room and Obama must have been listening outside the door. Cheap money, deregulation, crash! Appointing Greenspan was a mistake but everybody must comply with what the bankers want. Sanders will never get what he wants through the plutocracy. Either would Trump and neither could Warren. BUT Lawrence White, an economist at New York University, doesn't see Glass-Steagall playing any role in the financial crisis whatsoever. He pointed to the crisis’ biggest culprits: firms such as Lehman Brothers, Bear Stearns, Goldman Sachs and AIG, to name a few. He added that much of the crisis hinged on activity by these institutions that would have been possible with or without Glass-Steagall, such as mass investment in notoriously bad mortgage loans. (packaged into MBS's)
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You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great Under capitalism, man exploits man. Under communism, it's just the opposite. J K Galbraith
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