FOX News is Next

[SuburbanFarmer]

Before it was the greatest thing since sliced bread and those wasicaly Wepublicans were going to kill it. But then I pointed the facts out to you and now suddenly the script gets flipped. Suddenly it's feeble and on it's last legs like the two Dinosaurs it is named after. But not because of twinks, cocktail waitresses, shady bank deals, gold plated mortgages/real estate deals and the ravages of time like the aforementioned dinosaurs. No this one was brought low by those same Wasicaly Wepublicans that before was going to kill the one live, vibrant thing left in our imperiled Republic. Cool story bro, now how about you start telling the truth, you dem hack.

D-F was neutered before it was even passed, bank lobby money made sure it was written to be an ineffective piece of nonsense. It was never anything but "show" for the masses to say "see, we did something in response to the crisis".

Tell me about. Doe eyed cat face bought it hook, line, and sinker.

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

[clubgop]

D-F was neutered before it was even passed, bank lobby money made sure it was written to be an ineffective piece of nonsense. It was never anything but "show" for the masses to say "see, we did something in response to the crisis".

Tell me about. Doe eyed cat face bought it hook, line, and sinker.

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

I was well aware of what it was. You are never right about anything, you get everything so wrong. With a track record like that why should I have any faith in this? As for the last 8 years if I could retcon the whole fucking thing I would. That's a good default attitude.

[heydaralon]

D-F was neutered before it was even passed, bank lobby money made sure it was written to be an ineffective piece of nonsense. It was never anything but "show" for the masses to say "see, we did something in response to the crisis".

Tell me about. Doe eyed cat face bought it hook, line, and sinker.

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

GCF: Dodd Frank is a figleaf. Even liberals like Taibbi admitted as much. Its been awhile since I read about it, but it really didn't do much to prevent the underlying problems that caused the 2008 shitstorm to happen. There isn't really a party in US politics that has an interest in seriously reforming banks. Its been that way for more than 30 years. When Glass Steagal was eliminated and Commodities Future Modernization Act and Financial Services Modernization Act were passed, both Clinton and Republican Congress were on board and cheering.

[Ph64]

Tell me about. Doe eyed cat face bought it hook, line, and sinker.

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

I was well aware of what it was. You are never right about anything, you get everything so wrong. With a track record like that why should I have any faith in this? As for the last 8 years if I could retcon the whole fucking thing I would. That's a good default attitude.

What should have happened, and what D-F didn't do, was to reinstate Glass-Steagall. This would have effectively split the TBTF banks - you can gamble all you want with your own money, or with money people "invest" in you, but not with regular "mom&pop" banking deposits. And if you lose money, oh well - too bad, so sad, you and those who chose to invest in your gambling schemes lose, no bailouts. Retail depositors don't lose anything.

Puts the risk back into the hands of those who *chose* to take a risk. You shouldn't be able to take my bank account to Vegas thinking your bet on "00" on roulette is a sure thing.

[heydaralon]

Well, not a banking expert but the agreement before all the savings and loan crises and Glass Steagal repeal was that banks that made risky investments understood that the payoffs could be bigger, but the risk was not underwritten by Uncle Sam. If you are rich and you wanna make good returns, you can gamble, but the US gov't won't pick up the tab.

Then there was all manner of fuckery like Insurance merging with investment banks creating conflicts of interest and all that. The AIG CEO was and is a grade A piece of shit. I believe he tried suing the US gov't years after they bailed him out.

[SuburbanFarmer]

Tell me about. Doe eyed cat face bought it hook, line, and sinker.

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

GCF: Dodd Frank is a figleaf. Even liberals like Taibbi admitted as much. Its been awhile since I read about it, but it really didn't do much to prevent the underlying problems that caused the 2008 shitstorm to happen. There isn't really a party in US politics that has an interest in seriously reforming banks. Its been that way for more than 30 years. When Glass Steagal was eliminated and Commodities Future Modernization Act and Financial Services Modernization Act were passed, both Clinton and Republican Congress were on board and cheering.

Absolutely agree. Yet somehow, even this pathetic shred of accountability is 'holding us back from growth'.

[SuburbanFarmer]

It's all we've got, and yesterday you didn't even know what the fuck it was. Now tell me again how it makes sense to repeal this?

I was well aware of what it was. You are never right about anything, you get everything so wrong. With a track record like that why should I have any faith in this? As for the last 8 years if I could retcon the whole fucking thing I would. That's a good default attitude.

What should have happened, and what D-F didn't do, was to reinstate Glass-Steagall. This would have effectively split the TBTF banks - you can gamble all you want with your own money, or with money people "invest" in you, but not with regular "mom&pop" banking deposits. And if you lose money, oh well - too bad, so sad, you and those who chose to invest in your gambling schemes lose, no bailouts. Retail depositors don't lose anything.

Puts the risk back into the hands of those who *chose* to take a risk. You shouldn't be able to take my bank account to Vegas thinking your bet on "00" on roulette is a sure thing.

I believe that was the initial plan, but was rejected by congress. Not sure though.

Couldn't agree more tho.