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House Poised to Pass Bill Taking Aim at Dodd-Frank Regulations

danarhea

danarhea

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WASHINGTON — Since the Dodd-Frank Act was signed into law nearly seven years ago, Republicans have promised to make it their mission to repeal the legislation, which they say is strangling the financial industry and killing jobs.

They will take their most significant step on Thursday when the House of Representatives votes on a bill that would gut major elements of the regulatory legislation, drafted in the aftermath of the 2008 financial crisis.
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Yea, you heard that right. Republicans are repealing Dodd-Frank. Translated, that means the banksters will have free reign to once again wreck the economy.

https://www.nytimes.com/2017/06/08/...odd-frank.html?smid=tw-nytimes&smtyp=cur&_r=2
 
Since the senate can only pass a limited number of bills using reconciliation, this bill will be subject to the filibuster.
 
danarhea said:
Yea, you heard that right. Republicans are repealing Dodd-Frank. Translated, that means the banksters will have free reign to once again wreck the economy.

https://www.nytimes.com/2017/06/08/...odd-frank.html?smid=tw-nytimes&smtyp=cur&_r=2
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There is no shortage of articles by economists and legal experts on why Dodd-Frank is 'a disaster'
Heres one from Bloomberg Law https://www.bna.com/dodd-frank-section/#!

Dodd-Frank and the Volcker rule need to be either repealed and replaced with something better or they need to be changed. Probably would be easier to change than repleal.
 
Gotta make sure the rape & pillage that created the great recession is 100% available for future use.
 
DiAnna said:
I couldn't believe it. What the hell is wrong with those people???
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More proof that congress cares more about their donors than their constituents.
 
How soon we forget that the economy, commerce as we know it in the 21st century almost ended... Completely 10 years ago, people don't realize just how close we came to financial and social cataclysm...

And I can tell you that efforts to de-regulate the banking sector will once again create a similar problem in the future.
 
azgreg said:
More proof that congress cares more about their donors than their constituents.
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Didn't much of the Wall Street money and firms go to Hillary? :thinking

I'll reserve judgement on the bill until I read into it. I'm not going to react on liberal hysterics and talking points.
 
digsbe said:
Didn't much of the Wall Street money and firms go to Hillary? :thinking

I'll reserve judgement on the bill until I read into it. I'm not going to react on liberal hysterics and talking points.
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A whole lot of it did I believe, but what did you expect? She was the republican in the race.
 
digsbe said:
Didn't much of the Wall Street money and firms go to Hillary? :thinking

I'll reserve judgement on the bill until I read into it. I'm not going to react on liberal hysterics and talking points.
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There's no talking point here. It is a fact that Dodd-Frank was passed to undo much of the damage that was done when Glass-Steagal was repealed under the Bill Clinton administration. Banks can now make risky investments and bundle crap loans again, which is what caused the meltdown of the financial system in the first place. Pretty obvious to me that the Banksters believe that they can crash the system and they will once again be bailed out. This is not a Liberal vs. Conservative issue. Democrats had just as much to do with the repeal of Glass-Steagal as Republicans did, and when that repeal happened, the pigs came to the trough and sucked out all they could. The pigs will once more be coming back. This is just freakin' idiotic. If the banks crash again, let those mother****ers stay dead this time. **** them.
 
danarhea said:
There's no talking point here. It is a fact that Dodd-Frank was passed to undo much of the damage that was done when Glass-Steagal was repealed under the Bill Clinton administration. Banks can now make risky investments and bundle crap loans again, which is what caused the meltdown of the financial system in the first place. Pretty obvious to me that the Banksters believe that they can crash the system and they will once again be bailed out. This is not a Liberal vs. Conservative issue. Democrats had just as much to do with the repeal of Glass-Steagal as Republicans did, and when that repeal happened, the pigs came to the trough and sucked out all they could. The pigs will once more be coming back. This is just freakin' idiotic. If the banks crash again, let those mother****ers stay dead this time. **** them.
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And when that happens, anyone who doesn't live in a paid-for home and keep their cash in a safe under the floor will go down in flames along with them. Congress is absolutely nuts to even consider this.
 
DiAnna said:
And when that happens, anyone who doesn't live in a paid-for home and keep their cash in a safe under the floor will go down in flames along with them. Congress is absolutely nuts to even consider this.
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They are that opposed to anything democrats supported.
 
DiAnna said:
And when that happens, anyone who doesn't live in a paid-for home and keep their cash in a safe under the floor will go down in flames along with them. Congress is absolutely nuts to even consider this.
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Since it can't be passed using reconciliation, it will be filibustered in the Senate, which has fewer nutters, and then the House can find another way to waste time on the taxpayers' dime.
 
danarhea said:
Since it isn't a reconciliation bill, it will be filibustered in the Senate, which has fewer nutters, and then the House can find another way to waste time on the taxpayers' dime.
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That all depends on republicans bothering to keep the legislative filibuster.

McConnell may just nuke the filibuster in order to steamroll a republican agenda through
 
DiAnna said:
And when that happens, anyone who doesn't live in a paid-for home and keep their cash in a safe under the floor will go down in flames along with them. Congress is absolutely nuts to even consider this.
Click to expand...

danarhea said:
There's no talking point here. It is a fact that Dodd-Frank was passed to undo much of the damage that was done when Glass-Steagal was repealed under the Bill Clinton administration. Banks can now make risky investments and bundle crap loans again, which is what caused the meltdown of the financial system in the first place. Pretty obvious to me that the Banksters believe that they can crash the system and they will once again be bailed out. This is not a Liberal vs. Conservative issue. Democrats had just as much to do with the repeal of Glass-Steagal as Republicans did, and when that repeal happened, the pigs came to the trough and sucked out all they could. The pigs will once more be coming back. This is just freakin' idiotic. If the banks crash again, let those mother****ers stay dead this time. **** them.
Click to expand...

Like I said, I'm going to reserve judgement until I read their replacement bill. If I'm not mistaken another major chunk of the financial crisis was a push by the Clinton gov for lenders to make bad home loans that foreclosed. I feel that all the liberal hysterics is making it hard to sift through information.
 
digsbe said:
Like I said, I'm going to reserve judgement until I read their replacement bill. If I'm not mistaken another major chunk of the financial crisis was a push by the Clinton gov for lenders to make bad home loans that foreclosed. I feel that all the liberal hysterics is making it hard to sift through information.
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Not just Clinton, but Bush also.
 
danarhea said:
Yea, you heard that right. Republicans are repealing Dodd-Frank. Translated, that means the banksters will have free reign to once again wreck the economy.

https://www.nytimes.com/2017/06/08/...odd-frank.html?smid=tw-nytimes&smtyp=cur&_r=2
Click to expand...

Privatized gains versus socialized losses for the Wall Street bankster class
Internalized profit versus externalized risk and expense for the “job creator” class
Socialism for the aristocracy versus laissez-faire capitalism for the masses
 
danarhea said:
There's no talking point here. It is a fact that Dodd-Frank was passed to undo much of the damage that was done when Glass-Steagal was repealed under the Bill Clinton administration. Banks can now make risky investments and bundle crap loans again, which is what caused the meltdown of the financial system in the first place. Pretty obvious to me that the Banksters believe that they can crash the system and they will once again be bailed out. This is not a Liberal vs. Conservative issue. Democrats had just as much to do with the repeal of Glass-Steagal as Republicans did, and when that repeal happened, the pigs came to the trough and sucked out all they could. The pigs will once more be coming back. This is just freakin' idiotic. If the banks crash again, let those mother****ers stay dead this time. **** them.
Click to expand...

I really find it disappointing how little people understand the issues they are so passionate about on a site called "debate politics". Yes banks bad blame in the great recession. That being said almost no one says that Glass-Steagal was a major reason. One key reason was that banks were overleveraged, which the Federal Reserve allowed for some reason. I know nothing in this new bill that allows banks to find themselves in this situation. Most of the benefits will go to smaller banks which are getting wiped out because of over regulation.
 
SocialD said:
There is no shortage of articles by economists and legal experts on why Dodd-Frank is 'a disaster'
Heres one from Bloomberg Law https://www.bna.com/dodd-frank-section/#!

Dodd-Frank and the Volcker rule need to be either repealed and replaced with something better or they need to be changed. Probably would be easier to change than repleal.
Click to expand...



Your reference is horse****. It is one man's opinion, an opinion reached , it seems, without ever even speaking to another economist. I am sorry, but when I see such ambiguous phrases as "I'm not the only one..." I tend to disbelieve the rest. If he had quoted a few other experts I might be inclined to agree.

Based on what I have seen of Republicans to date I advise the electorate to get a lot of KY jelly...you're about to be ****ed.
 
washunut said:
I really find it disappointing how little people understand the issues they are so passionate about on a site called "debate politics". Yes banks bad blame in the great recession. That being said almost no one says that Glass-Steagal was a major reason. One key reason was that banks were overleveraged, which the Federal Reserve allowed for some reason. I know nothing in this new bill that allows banks to find themselves in this situation. Most of the benefits will go to smaller banks which are getting wiped out because of over regulation.
Click to expand...


It's all part of the system that puts the result onto the backs of the masses, doesn't matter, just bickering factions of a currupt aristocracy blaming each other.
 
Fearandloathing said:
Your reference is horse****. It is one man's opinion, an opinion reached , it seems, without ever even speaking to another economist. I am sorry, but when I see such ambiguous phrases as "I'm not the only one..." I tend to disbelieve the rest. If he had quoted a few other experts I might be inclined to agree.

Based on what I have seen of Republicans to date I advise the electorate to get a lot of KY jelly...you're about to be ****ed.
Click to expand...

One mans opinion because I posted only one link... why don't you read my first sentence that says ' there is no shortage of articles.. go do a search and find out what you don't want to acknowledge. or keep your head in the sand.
 
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