Author Topic: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)  (Read 1511 times)

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Offline larsonstdoc

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http://www.youtube.com/watch?v=buoP1gbi5mM&feature=related

  If the Cantrell/McCain Amendment to the Finacial Reform Bill is not put in,  it could be the end of the banking system.  This outlaws derivatives being bought and sold by the commercial banks.  It helps to prevent another bubble.  MOST PEOPLE CAN'T GET A BUSINESS LOAN BECAUSE THERE IS NO GLASS-STEAGALL LEGISLATION.  The commercial banks are gambling their money on derivatives and not lending to people.

  This video gets good at the 3:10 mark.
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Offline citizenx

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Re: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)
« Reply #1 on: May 13, 2010, 01:40:19 am »
Bringing back Glass?Steagal and banning the use of derivatives by banks are a good idea, but a bit late.

Closing the barn door after the horses are out.

Re-arranging the deck chairs on the S.S. Titianic, I'm afraid.

Just anothe chance for Captain America (McCain) to try to paint himself as the hero, but the girl is still tied to the tracks and he can't stop the train.

Offline larsonstdoc

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Re: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)
« Reply #2 on: May 13, 2010, 02:07:58 am »
Bringing back Glass?Steagal and banning the use of derivatives by banks are a good idea, but a bit late.

Closing the barn door after the horses are out.

Re-arranging the deck chairs on the S.S. Titianic, I'm afraid.

Just anothe chance for Captain America (McCain) to try to paint himself as the hero, but the girl is still tied to the tracks and he can't stop the train.

So citizenx, do you think that the system is TOAST?  I keep thinking it is but they keep reviving it--kinda like doing CPR on a 98 year old.
I'M A DEPLORABLE KNUCKLEHEAD THAT SUPPORTS PRESIDENT TRUMP.  MAY GOD BLESS HIM AND KEEP HIM SAFE.

Offline citizenx

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Re: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)
« Reply #3 on: May 13, 2010, 02:24:01 am »
Reform is no longer possible.

Revolution (really, "counter-revolution", in this case) is necessary.

There is no way to "fix" the derivatives problem. It is too big.  It will collapse inevitably.  They (TPTB) know this.

It doesn't matter if we stop the issuing of these contracts now.  Another 1929 style (90% drop in the markets) crash is unavoidable given 90% of the world's economy is phony derivatives paper.  It is just a matter of time.

They plan to install "command economies" around the world  -- this is already in progress, as you well know.  We must wrest political power from the ruling junta to prevent the complete appropriation of the economy and their consolidation of power.

No more "reform": we need a counter-revolution.

No more CPR.

"Time of death..."

We must kill their revolution to save the people and the country.

The lawmakers are not about to change their minds and save us., and another election will likely just see the shifting of power from one of the two halves of the corporatist one-party state to the other.  I do not have faith that the mid-terms wil make one iota of difference.

Counter-revolution now.

What that might mean is something I am willing to discuss with like-minded people that understand the fundamental problems facing us. 

Offline Monkeypox

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Re: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)
« Reply #4 on: May 13, 2010, 08:35:46 am »
Who removed Glass-Steagall?  Oh yeah, that was BJ Billy Klinton.  He was also the one who signed NAFTA, and he opened-up the floodgates to businesses outsourcing to China.
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Offline larsonstdoc

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Re: Cantwell/McCain Would Reinstate Glass / Steagall (Dylan Ratigan)
« Reply #5 on: May 13, 2010, 10:23:11 am »
Reform is no longer possible.

Revolution (really, "counter-revolution", in this case) is necessary.

There is no way to "fix" the derivatives problem. It is too big.  It will collapse inevitably.  They (TPTB) know this.

It doesn't matter if we stop the issuing of these contracts now.  Another 1929 style (90% drop in the markets) crash is unavoidable given 90% of the world's economy is phony derivatives paper.  It is just a matter of time.

They plan to install "command economies" around the world  -- this is already in progress, as you well know.  We must wrest political power from the ruling junta to prevent the complete appropriation of the economy and their consolidation of power.

No more "reform": we need a counter-revolution.

No more CPR.

"Time of death..."

We must kill their revolution to save the people and the country.

The lawmakers are not about to change their minds and save us., and another election will likely just see the shifting of power from one of the two halves of the corporatist one-party state to the other.  I do not have faith that the mid-terms wil make one iota of difference.

Counter-revolution now.

What that might mean is something I am willing to discuss with like-minded people that understand the fundamental problems facing us. 


Thanks for the info.  I know derivatives are the main problem but they keep propping up these markets to save the system.  You would think the system would eventually die but it doesn't.  And they are selling more derivatives and their "cousins"--meaning similar products.  This is insanity.  It has got to end soon.
I'M A DEPLORABLE KNUCKLEHEAD THAT SUPPORTS PRESIDENT TRUMP.  MAY GOD BLESS HIM AND KEEP HIM SAFE.