Quote from Lucrum:
Wasn't The Glass-Steagall Act repealed while Clinton was in office?
I'm no expert on the topic but I've read repeatedly this was at least a contributing factor to the melt down you refer to.
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This threads tell the story.
QUOTE]Quote from Landis82:
You obviously don't.
And you make the absurd assumption that every legislator reads every single rider, or that such legislation always receives a hearing. Congratulations! Once again you show everyone here on ET just how completely stupid you are.
The bill was "re-written" MORON, and never reviewed or subjected to a committee hearing! How many people do you think actually read this Bill as a rider, or even were aware that the Bill was re-written in the middle of December of 2000, when the entire nation was obsessed with whether or not Bush or Gore had won Florida, and the Election?
HedgeWorld Daily News, a trade publication for hedge funds and one of the few news outlets following the bill, stated, âDetails of the final language are not immediately available. Congressional aides said Sen. Gramm did succeed in getting additional language protecting the legal certainty of swap, especially those traded by banks, which are the main users of the products.
The final language, which the public was hardly aware of, contained some new sections not in the original Ewing bill that, for all intents and purposes, exempted swaps and derivatives from regulation by both the CFTC, which had already implemented rules that it would not regulate swaps and derivatives, and the SEC. Also, hidden within the bill was an exemption for energy derivative trading, which would later become known as the âEnron loopholeâ â this loophole would provide the impetus for Enronâs nose dive into full blown corporate corruption.â
http://www.readthebill.org/cases/commodity/ [/QUOTE
http://www.elitetrader.com/vb/showthread.php?s=&threadid=168356&perpage=6&highlight=phil gramm&pagenumber=4
85-year-old Grandma Violated by TSA
- Thread starter shortie
- Start date
Quote from Petsamo:
It wasn't to allow anarchy or keep the people vulnerable.
Break
This thread has demonstrated the idiocy of the left. Obama could've allowed the Patriot Act to expire. By extending it, he is to blame for its existence today. Yet the blame goes all to Bush.
I put the blame for the Patriot Act on the Republicrats, the only party in power.
Advocates of a police state always say they we need to throw away our rights and liberties in order to stop criminals or terrorists. Please move to some dictatorship where you will feel safe.
Quote from trendlover:
Quote from Lucrum:
Wasn't The Glass-Steagall Act repealed while Clinton was in office?
I'm no expert on the topic but I've read repeatedly this was at least a contributing factor to the melt down you refer to.
-------------------------------------------------------------------------------------
This threads tell the story.
QUOTE]Quote from Landis82:
You obviously don't.
And you make the absurd assumption that every legislator reads every single rider, or that such legislation always receives a hearing. Congratulations! Once again you show everyone here on ET just how completely stupid you are.
The bill was "re-written" MORON, and never reviewed or subjected to a committee hearing! How many people do you think actually read this Bill as a rider, or even were aware that the Bill was re-written in the middle of December of 2000, when the entire nation was obsessed with whether or not Bush or Gore had won Florida, and the Election?
HedgeWorld Daily News, a trade publication for hedge funds and one of the few news outlets following the bill, stated, âDetails of the final language are not immediately available. Congressional aides said Sen. Gramm did succeed in getting additional language protecting the legal certainty of swap, especially those traded by banks, which are the main users of the products.
The final language, which the public was hardly aware of, contained some new sections not in the original Ewing bill that, for all intents and purposes, exempted swaps and derivatives from regulation by both the CFTC, which had already implemented rules that it would not regulate swaps and derivatives, and the SEC. Also, hidden within the bill was an exemption for energy derivative trading, which would later become known as the âEnron loopholeâ â this loophole would provide the impetus for Enronâs nose dive into full blown corporate corruption.â
http://www.readthebill.org/cases/commodity/ [/QUOTE
http://www.elitetrader.com/vb/showthread.php?s=&threadid=168356&perpage=6&highlight=phil gramm&pagenumber=4
So the argument that idiot landis is trying to make is that the democraps aren't responsible because they didn't do their fucking jobs and read it?
Really?