For people who wonder why our financial system is so screwed up, a big part of it is that our U.S. Senator with the most expertise on the problem and the greatest willingness to lead the charge to solve it can go onto a business show on a major cable financial news network (CNBC) and be treated like this by people who seem to be about a step and a half above “dolt” status. Luckily, Elizabeth Warren swatted them down like flies –and with a smile on her face — in explaining why we want safe and insured commercial banking to be kept separate from risky investment banking. This is a great introductory lesson on bank regulation for people who need it — as well as for people like business journalists, who shouldn’t.
This is one of those issues that cuts across partisan lines. No one enjoys using public money to pay off the aggressive bad bets of banks — except for those who own or get massively overpaid by those banks. Enjoy!
About Greg Diamond
Somewhat verbose attorney, semi-disabled and semi-retired, residing in northwest Brea. Occasionally ran for office against jerks who otherwise would have gonr unopposed. Got 45% of the vote against Bob Huff for State Senate in 2012; Josh Newman then won the seat in 2016. In 2014 became the first attorney to challenge OCDA Tony Rackauckas since 2002; Todd Spitzer then won that seat in 2018. Every time he's run against some rotten incumbent, the *next* person to challenge them wins! He's OK with that.
Corrupt party hacks hate him. He's OK with that too.
He does advise some local campaigns informally and (so far) without compensation. (If that last bit changes, he will declare the interest.)
His daughter is a professional campaign treasurer. He doesn't usually know whom she and her firm represent. Whether they do so never influences his endorsements or coverage. (He does have his own strong opinions.) But when he does check campaign finance forms, he is often happily surprised to learn that good candidates he respects often DO hire her firm. (Maybe bad ones are scared off by his relationship with her, but they needn't be.)
Senator Elizabeth Warren is fighting to reinstate the Glass-Steagall Act, 1933-1999.
We need more cosponsors to H.R. 129 http://thomas.loc.gov and we especially need the cosponsors to make mention of their co-sponsorship on their Capitol and Campaign websites, (or remove your name as a cosponsor). Some politicians cosponsored just because it sounded good, (being anti Wall Street gambling).
Glass-Steagall will end the “Dodd-Frank bail-in” policy. http://www.google.com enter “Dodd-Frank bail-in”
• S.1282
• SHORT TITLE(S) AS INTRODUCED:
21st Century Glass-Steagall Act of 2013
• OFFICIAL TITLE AS INTRODUCED:
A bill to reduce risks to the financial system by limiting banks’ ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.
Now that Americans clearly understand the blatant fraud and immorality of Wall Street, the next shoe to drop is the blatant systemic fraud in US law enforcement. It turns out that all the “wining and complaining” heard by minorities in America across the entirety of our lifetime wasn’t always just an attempt to prolong a criminal lifestyle.
Senator Elizabeth Warren is fighting to reinstate the Glass-Steagall Act, 1933-1999.
We need more cosponsors to H.R. 129 http://thomas.loc.gov and we especially need the cosponsors to make mention of their co-sponsorship on their Capitol and Campaign websites, (or remove your name as a cosponsor). Some politicians cosponsored just because it sounded good, (being anti Wall Street gambling).
Glass-Steagall will end the “Dodd-Frank bail-in” policy.
http://www.google.com enter “Dodd-Frank bail-in”
• S.1282
• SHORT TITLE(S) AS INTRODUCED:
21st Century Glass-Steagall Act of 2013
• OFFICIAL TITLE AS INTRODUCED:
A bill to reduce risks to the financial system by limiting banks’ ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.
*We love Elizabeth Warren…….she is a honey!
It’s either –“ Reinstate Glass-Steagall” — or live with the “Dodd-Frank bail-in” policy.
Please http://www.google.com search both “____” above.
And NBC blocked the video of course.
Now that Americans clearly understand the blatant fraud and immorality of Wall Street, the next shoe to drop is the blatant systemic fraud in US law enforcement. It turns out that all the “wining and complaining” heard by minorities in America across the entirety of our lifetime wasn’t always just an attempt to prolong a criminal lifestyle.
Branching out, German – I like it!