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Mike
Well, of course regulations are laws. That's the point.
Thu Aug 18, 2011 4:40pm
99.230.70.126

And laws have teeth. When you strip regulations (and you did), you're stripping laws. Our oversight is done by auditing.

I've explained how our regulations kept us out of big trouble. We literally taught the world how banking should be done.

We had the foresight to acknowledge that letting big powerful banks (who is holding our money) run wild by their own devices can ruin us as a nation. The only foresight that the GOP congress saw was how much more risk-free money can we get for these banks.

Your banks had no leashes. Their greed sunk them (those who didn't get a bailout), the thousands of companies that relied on credit, and millions of people thrown out of work and out of their homes.

  • You STILL don't get it.Lewis, Thu Aug 18 10:14am
    "Regulations" is another name for "laws". Laws must be enforced or they have no value - and this enforcement requires policing. This "policing" is called "oversight". Contrary to the claims made by... more
    • Well, of course regulations are laws. That's the point. — Mike, Thu Aug 18 4:40pm
      • You have an error of facts. Lewis, Thu Aug 18 6:23pm
        When you say "strip" regulations, you imply that ALL regulations were removed - and they were not. There were, and are, ample regulations to have done the job - IF the Senate and House committees... more
        • The Gramm-Leach-Bliley ActMike, Thu Aug 18 8:33pm
          That bill stripped numerous regulatory laws and even introduced a privacy act which removed transparency. It repealed the Glass–Steagall Act of 1933 which forbid banks to sell their risks to... more
          • . . . was illl-advised, to be sureLewis, Fri Aug 19 7:56am
            . . . but Clinton had made that into law before Bush ever took office. You've constantly beaten your drum about BUSH stripping the regulations - So, what regulations did Bush strip? The congressional ... more
            • I never said Bush stripped regulationsMike, Fri Aug 19 1:13pm
              There you go again, attributing something to me that I've never said. I said the GOP congress wrote the bill that did that. Yes, Bush was not responsible for signing it into law. Clinton did sign it... more
              • A number of things are obvious ...Lewis, Sat Aug 20 8:50am
                (1) You don't read. Oh - you COULD, of course; but don't. You're still confusing "oversight" with an accountancy audit. Oversight would be to thoroughly examine random mortgages, from the application ... more
              • In reverse order ...Lewis, Sat Aug 20 8:29am
                Frank was NOT of the minority party; at the time of his speech his party was in the majority and he personally was chairman of the House committee charged with oversight. His counterpart in the... more
                • Re: In reverse order ...Mike, Sat Aug 20 3:54pm
                  Barney was instrumental in helping pass the Anti-Predatory Lending Act (H.R. 3915) to passage in 2007. That was the first year of the Dem takeover. Prior to that, the Repubs were in control. It is... more
                  • Mike -Lewis, Sat Aug 20 9:21pm
                    Until you man up, grow a pair of cajones and have the integrity to admit when you've been hit, I'm through with you. This entire exchange would have never existed had you not shot your mouth off... more
                    • You came up empty again, I seeMike, Sun Aug 21 12:25am
                      I take responsibility for what I write, NOT what you read. I haven't been hit with anything but noise. If I post something that can collaborate your assertions and accusations then it exists. All you ... more
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