On Sun, 24 Jan 2010 18:34:43 -0500, wrote:

On Sun, 24 Jan 2010 12:23:09 -0500, bpuharic wrote:


you mean the president the GOP impeached? yeah. looks like he had ALOT
of control over congress, right?


Bill Clinton was the cheerleader on the commodities deregulation bill
that allowed CDOs.

you mean the gramm bill? named after phil gramm, the REPUBLICAN who
authored it, on behalf of his enron VP wife?

that the bill you referring to?


No that was Gramm-Leach-Bliley in 1999. Clinton was in favor of that
too, along with 43% of the democrats voting for it.

uh huh. the president who was impeached by the GOP congress. and the
bill written by the right wing GOP senator whose wife was an enron sr.
VP

BTW that was what allowed banks to be brokerage houses.

like lehman bros...goldman sachs...

I am talking about The Commodity Futures Modernization Act of 2000
that repealed the bucket shop laws and allowed CDOs
The house voted 292-60 (9 democrats said no) and the senate gave it
unanimous consent
The democrats are neck deep in that **** hole. You can go look at the
vote if you want http://clerk.house.gov/evs/2000/roll603.xml

funny that the person most instrumental in the CFMA was...phil gramm.
the bill, as originally written, allowed the SEC to regulate swaps and
allowed the CFTC to regulate certain bank financial products

gramm, at the best of enron, etc., held up passage of the bill until
these provisions were stripped from the bill...essentially allowing
the bank robbers to guard the bank.

in 2008, congress started to re-regulate some of these products. they
had to do so by over riding bush's presidential veto.



It sure sounds like that was a bi-partisan screwing if those 2
deregulation bills were the cause. The democrats and Bill Clinton were
leading the charge to pump up the market and increase corporate power
over us.

and yet the right wing says it's the fault of the middle class.
when the economy went south, destroying the life savings of the middle
class...the right blamed the very victims of the crime

and, yes, the democrats were assholes for following the mythology of
the free market and it's blind prophet alan greenspan