Barney Frank has died at age 86.

Obama and the Democratic Party inherited a HORRIBLE MESS from Bush and the republicans


A prolonged Afghan war, a war the people were lied into in Iraq, those lies led to the creation of Isis and a banking crisis that was caused by Republican Party deregulation of the banks


The Democratic Party and Obama fixed these messes while the Trpublican party screamed they were not fixing things fast enough

Then they cheated in elections and got Trump elected


Now we are in a war no one got to vote on and they have killed all kinds of laws that would prevent another 2008 crash

Transparent

And the people have noticed
 
Stone said:
Did AIDS get him or was it something else I wonder ?

:bigthink:
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Hay Stone at least he had the balls to admit he was gay you don't even have the balls to admit you fucked up.
Really admitting you were wrong and that you lied about somebody really doesn't hurt, Many of us on have done it and are still living.
Are YOU ever going to man up and admit you lied and were wrong?
Gets some balls little boy.
 
evince said:

Supervised Entities Program​

FOR IMMEDIATE RELEASE​

2008-230​

Washington, D.C., Sept. 26, 2008 — Securities and Exchange Commission Chairman Christopher Cox today announced a decision by the Division of Trading and Markets to end the Consolidated Supervised Entities (CSE) program, created in 2004 as a way for global investment bank conglomerates that lack a supervisor under law to voluntarily submit to regulation. Chairman Cox also described the agency's plans for enhancing SEC oversight of the broker-dealer subsidiaries of bank holding companies regulated by the Federal Reserve, based on the recent Memorandum of Understanding (MOU) between the SEC and the Fed.
Chairman Cox made the following statement:



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This
 
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Chairman Cox Announces End of Consolidated Supervised Entities Program​

FOR IMMEDIATE RELEASE
2008-230​

Washington, D.C., Sept. 26, 2008 — Securities and Exchange Commission Chairman Christopher Cox today announced a decision by the Division of Trading and Markets to end the Consolidated Supervised Entities (CSE) program, created in 2004 as a way for global investment bank conglomerates that lack a supervisor under law to voluntarily submit to regulation. Chairman Cox also described the agency's plans for enhancing SEC oversight of the broker-dealer subsidiaries of bank holding companies regulated by the Federal Reserve, based on the recent Memorandum of Understanding (MOU) between the SEC and the Fed.
Chairman Cox made the following statement:
The last six months have made it abundantly clear that voluntary regulation does not work. When Congress passed the Gramm-Leach-Bliley Act, it created a significant regulatory gap by failing to give to the SEC or any agency the authority to regulate large investment bank holding companies, like Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns.
Because of the lack of explicit statutory authority for the Commission to require these investment bank holding companies to report their capital, maintain liquidity, or submit to leverage requirements, the Commission in 2004 created a voluntary program, the Consolidated Supervised Entities program, in an effort to fill this regulatory gap.
As I have reported to the Congress multiple times in recent months, the CSE program was fundamentally flawed from the beginning, because investment banks could opt in or out of supervision voluntarily. The fact that investment bank holding companies could withdraw from this voluntary supervision at their discretion diminished the perceived mandate of the CSE program, and weakened its effectiveness.
The Inspector General of the SEC today released a report on the CSE program's supervision of Bear Stearns, and that report validates and echoes the concerns I have expressed to Congress. The report's major findings are ultimately derivative of the lack of specific legal authority for the SEC or any other agency to act as the regulator of these large investment bank holding companies.
With each of the major investment banks that had been part of the CSE program being reconstituted within a bank holding company, they will all be subject to statutory supervision by the Federal Reserve. Under the Bank Holding Company Act, the Federal Reserve has robust statutory authority to impose and enforce supervisory requirements on those entities. Thus, there is not currently a regulatory gap in this area.
The CSE program within the Division of Trading and Markets will now be ending.
Under the Memorandum of Understanding between the SEC and the Federal Reserve that was executed in July of this year, we will continue to work closely with the Fed, but focused even more clearly on our statutory obligation to regulate the broker-dealer subsidiaries of the banking conglomerates. The information from the bank holding company level that the SEC will continue to receive under the MOU will strengthen our ability to protect the customers of the broker-dealers and the integrity of the broker-dealer firms.
The Inspector General's office also made 26 specific recommendations to improve the CSE program, which are comprehensive and worthy of support. Although the CSE program is ending, we will look closely at the applicability of those recommendations to other areas of the Commission's work and move to aggressively implement them.
As we learned from the CSE experience, it is critical that Congress ensure there are no similar major gaps in our regulatory framework. Unfortunately, as I reported to Congress this week, a massive hole remains: the approximately $60 trillion credit default swap (CDS) market, which is regulated by no agency of government. Neither the SEC nor any regulator has authority even to require minimum disclosure. I urge Congress to take swift action to address this.
Finally, I would like to commend the extraordinary efforts of the SEC's diligent staff, who for so many months have been working around the clock in the current market turmoil. Their dedication and commitment in behalf of investors and the American people are unequaled.
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The Republican Party will never be able to erase the fact that they fully admitted Republican deregulation caused the banks to fail


Full on admitted it

Because they knew they had no choice but to admit it


But now you are a cult


So lies are just fine
 
evince said:
Yet I’m discussing it and you have yet to discuss Mr Franks good judgement
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You aren't discussing shit, you're regurgitating talking points that were issued to you by the DNC. So shut the fuck up. You've never had an original thought in your entire pathetic miserable life.
 
T
evince said:
Why does the right now hate Dodd Frank?
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Because the bankers and super wealthy do. The Reds are in a party, which is a subsidiary of super-rich incorporated. Trump is not a serendipitous figurehead. He was planned. If he did not come along, someone as greedy and corrupt as he is would be leading the party.
 
countryboy said:
You aren't discussing shit, you're regurgitating talking points that were issued to you by the DNC. So shut the fuck up. You've never had an original thought in your entire pathetic miserable life.
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Rail away asshole


I have been proven correct over and over again here on this site

I warned of the crash while it was building

I was insulted just like you are doing


And then what I said was going to happen happened


I first started online posting when Bush began lying us into Iraq

I was posting the facts to prove Bush and Cheney were lying us into a war

I was insulted just like you are doing

Then it turned out to be 100 percent correct


This is the pattern here


Idiots attack the people who present facts


Then we turn out to be correct


You never truly admit you were wrong


And then move on to new lies to attack the actual facts


Then after a couple of years you pretend that you were correct on the outcome


And it was the Democratic Party members fault somehow


You are bad faith actors


There is no working with you


There is only working against you and your lies until your grift gets gutted


Your grift is gutted

Your party is bleeding out

It stabbed its self with racism until your Bowels were shredded

Your the walking wounded now

Dripping blood and colon contents all over anyone near you


Maybe Dr Kennedy can save you

He knows all bout raccoon penis
 
Ichabod Stain said:
but it took bankers themselves to rate these known bad loans as triple AAA and then resell them into the investment market as a new product.

be fair.

bankers are also trash.
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Oh no doubt that the bankstas were criminal, but Dodd/Frank was a huge component in places like Lehman Bros. going under. It had to do with mark to market which was in Dodd/Frank. Looked good on paper, but as things were coming unraveled in the housing market when the shit loans came undone, nobody could values the properties because they had been sliced and diced so many times it it jacked up everyones balance sheet.

The gobblement created the problem with Fannie and Freddie Mac and then compounded it. The gobblement should have just stayed out of the housing market. 30 year loans only benefitted the banks. Which then evolved into credit cards. The consumer got screwed and the gobblement helped.
 
Teflon Don said:
Oh no doubt that the bankstas were criminal, but Dodd/Frank was a huge component in places like Lehman Bros. going under. It had to do with mark to market which was in Dodd/Frank. Looked good on paper, but as things were coming unraveled in the housing market when the shit loans came undone, nobody could values the properties because they had been sliced and diced so many times it it jacked up everyones balance sheet.

The gobblement created the problem with Fannie and Freddie Mac and then compounded it. The gobblement should have just stayed out of the housing market. 30 year loans only benefitted the banks. Which then evolved into credit cards. The consumer got screwed and the gobblement helped.
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yes. huge component.

equal to the banker component for sure.

this was a textbook fascist bubble creation.

fascism being the UNION OF STATE AND CORPORATE POWER.

and because of our two party system and mirror propanda systems, Republicans defend the bankers and Dems defend the government, and nothing happens.
 
Teflon Don said:
Oh no doubt that the bankstas were criminal, but Dodd/Frank was a huge component in places like Lehman Bros. going under. It had to do with mark to market which was in Dodd/Frank.
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Dodd-Frank was not a component in Lehman Brothers going under. Dodd-Frank was a reaction to Lehman Brothers going under, and was enacted two years after Lehman Brothers went under. It could not have caused something that happened before it. That is not how time works.

Lehman Brothers major problem was that it did not have enough margins. Mark-to-market was more of a problem with Enron, where they controlled the market they were marking it to. Lehman was trying to convince everyone that the securities they held were worth more than the market claimed, when they were actually worth less.
 
Teflon Don said:
Oh no doubt that the bankstas were criminal, but Dodd/Frank was a huge component in places like Lehman Bros. going under. It had to do with mark to market which was in Dodd/Frank. Looked good on paper, but as things were coming unraveled in the housing market when the shit loans came undone, nobody could values the properties because they had been sliced and diced so many times it it jacked up everyones balance sheet.

The gobblement created the problem with Fannie and Freddie Mac and then compounded it. The gobblement should have just stayed out of the housing market. 30 year loans only benefitted the banks. Which then evolved into credit cards. The consumer got screwed and the gobblement helped.
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Dodd was passed in 2010.The crash was in 2008. Gramm Leach,of 2000 ended most banking regulations. Phil Gramm was a Repub who was pushing that bill for decades. His wife worked at Enron. I remember the Dems coming out the late night bill, were telling us about how bad it could be. It was even worse.
 
Damocles said:
When Kirk died Damocles said: Don't expect these people to act like saints when some famous Democrat dies, expect them to act like you have done...

Then when it happens, Desh is the first one to cry.
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I was respectful of Kirk, and yet they are not respectful of Frank.

Call them out, as much as you call Desh out!
 
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