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Big banks best new friend?

Steve

Well-known member
Candidate Obama repeatedly blasted Phil Gramm and the Gramm-Leach-Bliley Act, which Gramm had pushed through Congress with President Bill Clinton's support. This was legislation that repealed the Glass-Steagall Act http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act and thereby radically deregulated the financial industry, allowing hundreds of billions of new profits to be made by Wall Street, at great cost to the American public.

But now John McCain and Sen. Maria Cantwell, D-Wash. have sponsored a bill to repeal Gramm's bank-friendly legislation, while captive Obama seeks to preserve it! [OpEdNews, Is Obama a captive of America's most powerful banks and corporations?, 1/7/2010]

Rather than restore Glass-Steagall, the Obama-backed banking regulation bill (which was passed last month by the Democratic majority in the House) went along with the desire of Wall Street lobbyists to a) prevent the breakup of the big conglomerates and b) block any control of their massive trading in the derivatives that has proved to be so toxic.

if you tell a lie often enough.. someone will believe it... democrats represent the working class... sure they do... :roll: :roll:

sure glad I didn't vote for big businesses new best friend.
 
A

Anonymous

Guest
Steve do you think that the working class has any friends in Washington? I doubt that we do. We get used and abused and come back for more. Evidentily we are pretty stupid. I think that the last President that had any leanings toward the working class was Harry Truman. I hear about the labor unions being a problem, last I read they were supposed to be for the working class. But in this case the labor union leaders have done a good job of convincing the working class they are working for them and really only looking out for themselves. I have seen in my lifetime when the unions were strong everyone had a pretty good chance at a good living. Now with the unions being weak we are seeing the jobs sent over seas. There are not enough jobs for the semi skilled workers here. What do you do with these workers, I have no answer to that. The only thing that the working class could do that would have an impact would be to go on a general strike, sell all of their holdings and then check their money out of the banks and not put any of it back. We need to learn to quite supporting the institutions that are not supporting us. Also live within our means. This living is both personal and should apply to the government as well. Stupid thoughts on my part could be so read this for you self and decide.
 

Steve

Well-known member
Steve do you think that the working class has any friends in Washington?

no... at a point they forget about everyone below them..

states rights and term limits.... might be the only answer... as Washington does not care about US...
 

RobertMac

Well-known member
Steve, the Goldman-Sachs "family of bureaucrats" are running the USA financials...who gets rich is all a matter of whose bought politicians are running the Federal government.

Hurleyjd, nothing stupid about what you said...the unions and federal government regulation and taxation have priced the USA worker out of the marketplace.

We need State Attorney Generals to start challenging federal laws and regulations on the grounds of being unconstitutional. Washington, DC is as corrupt as any third world dictatorship!
 

Steve

Well-known member
Steve, the Goldman-Sachs "family of bureaucrats" are running the USA financials...who gets rich is all a matter of whose bought politicians are running the Federal government.

we just voted one out... Corzine.. but he is making trouble all the way out the door.. a real mess...

with states rights and term limits we could at least stop the endless cycle..

the way it is now long term senator can't be challenged by their own party.. so often they stay in... forever it seems...unless the state has a large population change... or a major scandal, so in effect no one gets a chance..
just two party hacks per state...
 
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