Barney Frank has died at age 86.

Damocles said:
The tears on your keyboard and running off my screen tell a different story, hypocrite. Poop or get off the pot.

I told you this would happen. You still want to cry.
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Why do you lie for these people damo


I told you your policies were crashing the economy

You laughed and lied about it


Then they admitted it themselves


Your track record is pretty bad dude
 
evince said:
SEC Chairman Cox, Federal Reserve Chairman Ben Bernanke, and Treasury Secretary Henry Paulson have all acknowledged recent regulatory failures. In September, prompted by the onset of the worst financial crisis since the Great Depression, Cox dismantled the 2004 program that permitted self-monitoring among firms. An SEC spokesman noted that in October Cox told Congress, “We have learned that voluntary regulation does not work.” Further, the SEC’s oversight responsibilities now largely shift to the Federal Reserve, though the commission continues to oversee investment banks’ brokerage units. Recommendations by the SEC inspector general for tighter limits on borrowing and risky investing practices are also being considered.
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Dismantled a program they created to let banks police themselves in 2004

While America was at war and not paying attention


Deregulation


During a war America was lied into


Sound familiar?
 
evince said:
Second post

The right insulting people for mourning a guy who helped fix the crash Bush and republicans caused this nation in 2008


they were forced to admit on the record that Republican deregulation caused the crash


And right wing cultists just lie about it
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You have zero knowledge about anything, you operate solely on focus group tested talking points.
 
evince said:
You insulted barney by lying about what Franks did for America after your failed economic policy of deregulations screwed the American people AGAIN
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I told no lies. Fwank was a POS. Like 99.999999999999% of Democrats, and 101% of gullible dumb fucks like you.
 
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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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Teflon Don said:
I will say this, I obviously didn't agree with his politics and Dodd Frank was probably one of the worst pieces of legislation ever to pass Congress and actually helped lead to the financial crisis in 2008 because of things like mark to market. But, he was hilarious. His last words on what the democrat party has turned into were poignant. I doubt today's democrats would support someone like Barney. I think they just liked the fact that he was gay.
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Days before he croaked, he said Democrats had lost their way.
 

Chairman Cox Announces End of Consolidated Supervised Entities Program​

FOR IMMEDIATE RELEASE​

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.
Click to expand...
 
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal lawenacted on July 21, 2010, as the primary legislative response to the 2007–2008 financial crisis—the worst financial crisis since the Great Depression. Named for its sponsors, Senator Chris Doddand Representative Barney Frank, the law was signed by President Barack Obama on July 21, 2010. Its stated purposes are to promote financial stability, end "too big to fail," prevent taxpayer-funded bailouts, and protect consumers from abusive financial practices.
 
evince said:

Chairman Cox Announces End of Consolidated Supervised Entities Program​

FOR IMMEDIATE RELEASE​

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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At the time the Republican party admitted deregulation caused the banks to cheat and then fail



And here they are rewriting history yet again


So they can cause more failures in our economy
 
countryboy said:
I told no lies. Fwank was a POS. Like 99.999999999999% of Democrats, and 101% of gullible dumb fucks like you.
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Longtime former congressman Barney Frank, ‘deeply grounded in Jewish values and traditions,’ dies at 86​

The late Jewish representative from Massachusetts “approached Israel as a liberal Zionist: engaged, critical and deeply committed,” William Daroff, CEO of the Conference of Presidents, told JNS.​


Frank is known for co-authoring the Dodd-Frank Wall Street Reform and Consumer Protection Act with then senator Chris Dodd in 2009 to reform the financial services industry.

The Obama administration said at the time that the act, which then President Barack Obama signed into law in 2010, was the “most far reaching Wall Street reform in history,” that would “prevent the excessive risk-taking that led to the financial crisis.”

“The law also provides common-sense protections for American families, creating new consumer watchdog to prevent mortgage companies and pay-day lenders from exploiting consumers,” it said. “These new rules will build a safer, more stable financial system—one that provides a robust foundation for lasting economic growth and job creation.”

“Deeply grounded in Jewish values and traditions, Congressman Frank brought a profound sense of moral responsibility to public life, guided by the belief that government has an obligation to protect the vulnerable and strengthen the fabric of society,” the Federation told JNS. “His legacy of leadership, sharp wit and unwavering commitment to justice will endure far beyond his years in office.”

www.jns.org

Longtime former congressman Barney Frank, 'deeply grounded in Jewish values and traditions,' dies at 86

The late Jewish representative from Massachusetts "approached Israel as a liberal Zionist: engaged, critical and deeply committed," William Daroff, CEO of the Conference of Presidents, told JNS.
www.jns.org www.jns.org
 
Republicans lied us to war in Iraq

And crashed the world economy with deregulating the banking industry


It’s the whole reason trump was placed at the top of your ticket

You were pissed at your party for the lies and economic disasters


Now you want to go back and rewrite that history because it gives you the ickies to face the truth
 
Guno צְבִי said:

Longtime former congressman Barney Frank, ‘deeply grounded in Jewish values and traditions,’ dies at 86​

The late Jewish representative from Massachusetts “approached Israel as a liberal Zionist: engaged, critical and deeply committed,” William Daroff, CEO of the Conference of Presidents, told JNS.​


Frank is known for co-authoring the Dodd-Frank Wall Street Reform and Consumer Protection Act with then senator Chris Dodd in 2009 to reform the financial services industry.

The Obama administration said at the time that the act, which then President Barack Obama signed into law in 2010, was the “most far reaching Wall Street reform in history,” that would “prevent the excessive risk-taking that led to the financial crisis.”

“The law also provides common-sense protections for American families, creating new consumer watchdog to prevent mortgage companies and pay-day lenders from exploiting consumers,” it said. “These new rules will build a safer, more stable financial system—one that provides a robust foundation for lasting economic growth and job creation.”

www.jns.org

Longtime former congressman Barney Frank, 'deeply grounded in Jewish values and traditions,' dies at 86

The late Jewish representative from Massachusetts "approached Israel as a liberal Zionist: engaged, critical and deeply committed," William Daroff, CEO of the Conference of Presidents, told JNS.
www.jns.org www.jns.org
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Why are they making such a big deal about him being Jewish? Is it because the democrat party has been so anti jewish lately?
 
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