Alternet slams the Clintons as crony capitalist

[WeToddDid2]

Merely shocked? Or shocked and dismayed?

Sorry, Todd, but I think you missed the point of the article in the link I provided. Perhaps a re-read?

And just in case you're wondering, the author of that piece is a proponent of the Austrian School of economics. So he's not one of your designated "libtards."

Well, possibly a little dismayed as well.

You were correct to assume that I did not fully read the article that you posted and did a cursory review at best. This seems like another attempt by you to deflect blame from Clinton and solely blame the repubs for the CFMA and therefore the Great Recession. That is simply not the case. Below is the Statement of Administration Policy by Clinton admin regarding CFMA.

http://www.presidency.ucsb.edu/ws/?pid=74825
"The Administration strongly supports the version of H.R. 4541, the Commodity Futures Modernization Act of 2000, that the Administration understands will be considered on the House floor. This legislation would reauthorize the Commodity Futures Trading Commission (CFTC) and modernize the Nation's legal and regulatory framework regarding over-the-counter (OTC) derivatives transactions and markets. In so doing, H.R. 4541 also would implement many of the unanimous recommendations regarding the treatment of OTC derivatives made by the President's Working Group on Financial Markets, which includes the Secretary of the Treasury and the Chairmen of the Federal Reserve Board of Governors, the Securities and Exchange Commission, and the Commodity Futures Trading Commission."

More at link.

However, Again, '08-'09 would have been completely different without the repeal of Glass-Steagall(GS). It would have been largely contained to Wall Street. The interconnectedness of the financial system could not have occurred without the repeal of GS. The author is correct regarding the contribution of OTC derivatives including CDOs, MBS, CDOs-squared, etc. to the great recession. However, the point is that banks including Chase, BofA, etc. could not have engaged in the originating, selling and owning of OTC derivatives without the repeal of GS.

BTW - The Austrian School does not understand the modern fiat monetary system. They are stuck in the gold standard. We are no longer on the gold standard. For some reason, they cannot get this through their heads.

 

[WeToddDid2]

let's put it this way, both the Clintons are slime ball scum bags, but when you are looking for a lawyer, do you want one who always plays by the rules?

I agree regarding a lawyer. However, Hillary is not a candidate for a lawyer. Hillary is a candidate for POTUS. I do not want a slime ball scum bag and the poster child of crony capitalism as the POTUS. In other words, I find myself in a very uncomfortable situation in agreeing with Alternet.

 

[loyek590]

I agree regarding a lawyer. However, Hillary is not a candidate for a lawyer. Hillary is a candidate for POTUS. I do not want a slime ball scum bag and the poster child of crony capitalism as the POTUS. In other words, I find myself in a very uncomfortable situation in agreeing with Alternet.

I hear ya, I don't even want to vote in 2016, but if I don't I lose my right to bitch

 

[Frederick Foresight]

BTW - The Austrian School does not understand the modern fiat monetary system. They are stuck in the gold standard. We are no longer on the gold standard. For some reason, they cannot get this through their heads.

Please make no mistake. I am no fan of Austrian economics. I just figured you probably would be. Imagine my surprise.

As for Clinton, I didn't suggest he gets a pass. I just made it clear that the Republicans figure more prominently. Much more. Especially as it relates to the Commodity Modernization Act of 2000, as I had previously noted.

 

[WeToddDid2]

I'm not for crony capitalism, but please indicate which likely GOP candidate is any less crony.

I didn't say vote for a repub. I urged you find another candidate. That is what the libtards should be doing. They should be stating that they will not vote for Hillary The Crony Capitalist and demanding an alternative candidate. But, clearly by the post on this board, the sheeple don't care that Hillary is a crony capitalist. Libtards actually don't care about crony capitalism at all. They are merely concerned with being good little sheeple and loving anything liberal. In other words, her actions are the exact same actions that libtards supposedly hate but they will vote for her anyway which is basically the definition of "sheeple".

To answer your question, I am not sure that anyone can be as equally as crony as the Clintons. They are most likely the most croniest (that is a new word) in history.

 

[Frederick Foresight]

Then we're all in agreement. Todd should work on Elizabeth Warren's campaign, after first convincing her to run.

 

[WeToddDid2]

Please make no mistake. I am no fan of Austrian economics. I just figured you probably would be. Imagine my surprise.

As for Clinton, I didn't suggest he gets a pass. I just made it clear that the Republicans figure more prominently. Much more. Especially as it relates to the Commodity Modernization Act of 2000, as I had previously noted.

LOL. You were probably just as surprised as I was when you made it clear that you posted an article by an Austrian economist.

 

[Tsing Tao]

I'd love to see Warren run.

 

[WeToddDid2]

Then we're all in agreement. Todd should work on Elizabeth Warren's campaign, after first convincing her to run.

I do agree that Warren would be head and shoulders above Hillary the Crony Capitalist as a candidate for POTUS. However, I have to clarify that statement, Warren also does not understand the modern fiat monetary system and this fundamental misunderstanding causes her to have some misguided policies but she does seem to have her heart in the right place and means well.

 

[Frederick Foresight]

I do agree that Warren is head and shoulders above Hillary the Crony Capitalist as a candidate for POTUS. However, I have to qualify that statement, Warren also does not understand the modern fiat monetary system and this fundamental misunderstanding causes her to have some misguided policies but she does seem to have her heart in the right place and means well.

I am not aware of any specific deficiencies in her understanding, and wonder what those might be. Regardless, I gather that she would be a quick study.