Post by Joe Cocker on Sept 10, 2012 13:17:33 GMT -5
Who damage the planet worst?
Glass–Steagall Act that Clinton forced on to the banks or WAR!
The Banking Act of 1933 (Pub.L. 73-66, 48 Stat. 162, enacted June 16, 1933) was a law that established the Federal Deposit Insurance Corporation (FDIC) in the United States and imposed banking reforms, several of which were intended to control speculation.[1] It is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and Representative Henry B. Steagall (D) of Alabama.
The term Glass–Steagall Act, however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms.[2] Starting in the early 1960s federal banking regulators interpreted these provisions to permit commercial banks and especially commercial bank affiliates to engage in an expanding list and volume of securities activities.[3] By the time the affiliation restrictions in the Glass–Steagall Act were repealed through the Gramm-Leach-Bliley Act in 1999, many commentators argued Glass-Steagall was already “dead.”[4] Most notably, Citibank’s 1998 affiliation with Salomon Smith Barney, one of the largest US securities firms, was permitted under the Federal Reserve Board’s then existing interpretation of the Glass-Steagall Act.[5] Clinton publicly declared, "The Glass-Steagall Act is no longer relevant."[6]
Many commentators have stated that the Gramm-Leach-Bliley Act’s repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the late-2000s financial crisis.[7][8][9] Some critics of that repeal argue it permitted Wall Street investment banking firms to gamble with their depositors' money that was held in affiliated commercial banks.[10][11][12][13][14][15] Others have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act.[16] Commentators, including the American Bankers Association in January 2010, have also argued that the ability of commercial banking firms to acquire securities firms (and of securities firms to convert into bank holding companies) helped mitigate the financial crisis.[17]
en.wikipedia.org/wiki/Glass–Steagall_Act
LBJ's Great Society
The Great Society was a set of domestic programs in the United States announced by President Lyndon B. Johnson at Ohio University and subsequently promoted by him and fellow Democrats in Congress in the 1960s. Two main goals of the Great Society social reforms were the elimination of poverty and racial injustice. New major spending programs that addressed education, medical care, urban problems, and transportation were launched during this period. The Great Society in scope and sweep resembled the New Deal domestic agenda of Franklin D. Roosevelt, but differed sharply in types of programs enacted.
Some Great Society proposals were stalled initiatives from John F. Kennedy's New Frontier. Johnson's success depended on his skills of persuasion, coupled with the Democratic landslide in the 1964 election that brought in many new liberals to Congress, making the House of Representatives in 1965 the most liberal House since 1938.[1] Anti-war Democrats complained that spending on the Vietnam War choked off the Great Society. While some of the programs have been eliminated or had their funding reduced, many of them, including Medicare, Medicaid, the Older Americans Act and federal education funding, continue to the present. The Great Society's programs expanded under the administrations of Richard Nixon and Gerald Ford.[2]
How did LBJ pay for that war? Who started it? Don't tell me it was a democrat president Mink.
read more: en.wikipedia.org/wiki/Great_Society
Glass–Steagall Act that Clinton forced on to the banks or WAR!
The Banking Act of 1933 (Pub.L. 73-66, 48 Stat. 162, enacted June 16, 1933) was a law that established the Federal Deposit Insurance Corporation (FDIC) in the United States and imposed banking reforms, several of which were intended to control speculation.[1] It is often referred to as the Glass–Steagall Act, after its Congressional sponsors, Senator Carter Glass (D) of Virginia, and Representative Henry B. Steagall (D) of Alabama.
The term Glass–Steagall Act, however, is most often used to refer to four provisions of the Banking Act of 1933 that limited commercial bank securities activities and affiliations between commercial banks and securities firms.[2] Starting in the early 1960s federal banking regulators interpreted these provisions to permit commercial banks and especially commercial bank affiliates to engage in an expanding list and volume of securities activities.[3] By the time the affiliation restrictions in the Glass–Steagall Act were repealed through the Gramm-Leach-Bliley Act in 1999, many commentators argued Glass-Steagall was already “dead.”[4] Most notably, Citibank’s 1998 affiliation with Salomon Smith Barney, one of the largest US securities firms, was permitted under the Federal Reserve Board’s then existing interpretation of the Glass-Steagall Act.[5] Clinton publicly declared, "The Glass-Steagall Act is no longer relevant."[6]
Many commentators have stated that the Gramm-Leach-Bliley Act’s repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the late-2000s financial crisis.[7][8][9] Some critics of that repeal argue it permitted Wall Street investment banking firms to gamble with their depositors' money that was held in affiliated commercial banks.[10][11][12][13][14][15] Others have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act.[16] Commentators, including the American Bankers Association in January 2010, have also argued that the ability of commercial banking firms to acquire securities firms (and of securities firms to convert into bank holding companies) helped mitigate the financial crisis.[17]
en.wikipedia.org/wiki/Glass–Steagall_Act
LBJ's Great Society
The Great Society was a set of domestic programs in the United States announced by President Lyndon B. Johnson at Ohio University and subsequently promoted by him and fellow Democrats in Congress in the 1960s. Two main goals of the Great Society social reforms were the elimination of poverty and racial injustice. New major spending programs that addressed education, medical care, urban problems, and transportation were launched during this period. The Great Society in scope and sweep resembled the New Deal domestic agenda of Franklin D. Roosevelt, but differed sharply in types of programs enacted.
Some Great Society proposals were stalled initiatives from John F. Kennedy's New Frontier. Johnson's success depended on his skills of persuasion, coupled with the Democratic landslide in the 1964 election that brought in many new liberals to Congress, making the House of Representatives in 1965 the most liberal House since 1938.[1] Anti-war Democrats complained that spending on the Vietnam War choked off the Great Society. While some of the programs have been eliminated or had their funding reduced, many of them, including Medicare, Medicaid, the Older Americans Act and federal education funding, continue to the present. The Great Society's programs expanded under the administrations of Richard Nixon and Gerald Ford.[2]
How did LBJ pay for that war? Who started it? Don't tell me it was a democrat president Mink.
read more: en.wikipedia.org/wiki/Great_Society