Well I'll be damned if it wasn't the opposite party to Gramm, Leach and Bliley that got rid of Glass-Steagall. Who'd of guessed.
And which President signed that into law again?
Trump is Right to Blow Up the Fed
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And which President signed that into law again?
You think you're a Libertarian, but in fact political scholars would call you a neo-liberal. Many in the U.S. "libertarian party," not all by any means, have a rather spotty education in historical political movements. When the U.S. neo-liberals decided to start calling themselves "Libertarians" they in fact had little understanding of historical Liberal politics, and were, innocently one presumes, co-opting a name for a political movement that meant something quite different from what they were espousing. They were espousing a return to thoroughly discredited laissez faire, free capitalist ideas popular in the 19th century. The correct term for your political philosophy is "neo-liberalism". You are a neo-liberal, and you would do all of us true Libertarians a favor if you would please stop using the term "Libertarian" incorrectly.
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From Merriam Webster comes this delightful commentary on the word liberal." [https://www.merriam-webster.com/words-at-play/liberal-meaning-origin-history]
Word History
What Exactly Is a 'Liberal'?
No one wants a 'servile arts' degree
What does it mean to say that a person is a liberal, or to say that a thing may be described with this word? The answer, as is so often the case with the English language, is “it depends.”
'Liberal' shares a root with 'liberty' and can mean anything from "generous" to "loose" to "broad-minded." Politically, it means "“a person who believes that government should be active in supporting social and political change."
Liberal can be traced back to the Latin word liber (meaning “free”), which is also the root of liberty ("the quality or state of being free") and libertine ("one leading a dissolute life"). However, we did not simply take the word liber and make it into liberal; our modern term for the inhabitants of the leftish side of the political spectrum comes more recently from the Latin liberalis, which means “of or constituting liberal arts, of freedom, of a freedman.”
We still see a strong connection between our use of the word liberal and liber in the origins of liberal arts. In Latin, liber functioned as an adjective, to describe a person who was “free, independent,” and contrasted with the word servus (“slavish, servile”). The Romans had artes liberales (“liberal arts”) and artes serviles (“servile arts”); the former were geared toward freemen (consisting of such subjects as grammar, logic, and rhetoric), while the latter were more concerned with occupational skills.
We borrowed liberal arts from French in the 14th century, and sometime after this liberal began to be used in conjunction with other words (such as education, profession, and pastime). When paired with these other words liberal was serving to indicate that the things described were fitting for a person of high social status. However, at the same time that the term liberal arts was beginning to make 14th century college-tuition-paying-parents a bit nervous about their children’s future job prospects, liberal was also being used as an adjective to indicate “generosity” and “bounteousness.” By the 15th century, people were using liberal to mean “bestowed in a generous and openhanded way,” as in “poured a liberal glass of wine.”
The word's meaning kept shifting. By the 18th century, people were using liberal to indicate that something was “not strict or rigorous.” The political antonyms of liberal and conservative began to take shape in the 19th century, as the British Whigs and Tories began to adopt these as titles for their respective parties.
Liberal is commonly used as a label for political parties in a number of other countries, although the positions these parties take do not always correspond to the sense of liberal that people in the United States commonly give it. In the US, the word has been associated with both the Republican and Democratic parties (now it is more commonly attached to the latter), although generally it has been in a descriptive, rather than a titular, sense.
The word has—for some people, at least—taken on some negative connotations when used in a political sense in the United States. It is still embraced with pride by others. We can see these associations with the word traced back to the early and mid-20th century in its combination with other words, such as pinko:
Thanks to The Dove, pinko-liberal journal of campus opinion at the University of Kansas, a small part of the world last week learned some inner workings of a Japanese college boy.
—Time: the Weekly Newsmagazine, 7 Jun., 1926
"To the well-to-do," writes Editor Oswald Garrison Villard of the pinko-liberal Nation, "contented and privileged, Older is an anathema.
—Time: the Weekly Newsmagazine, 9 Sept., 1929
Pinko liberals—the kind who have been so sympathetic with communistic ideals down through the years—will howl to high heaven.
—The Mason City Globe-Gazette (Mason City, IA), 12 Jun., 1940
The term limousine liberal, meaning "a wealthy political liberal," is older than many people realize; although the phrase was long believed to have originated in the 1960s, recent evidence shows that we have been sneering at “limousine liberals” almost as long as we have had limousines:
“Limousine liberals” is another phrase that has been attached to these comfortable nibblers at anarchy. But it seems to us too bourgeois. It may do as a subdivision of our higher priced Bolsheviki.
—New York Tribune, 5 May, 1919
Even with a highly polysemous word such as liberal we can usually figure out contextually which of its many possible senses is meant. However, when the word takes on multiple and closely-related meanings that are all related to politics, it can be rather difficult to tell one from another. These senses can be further muddied by the fact that we now have two distinct groups who each feel rather differently about some of the meanings of liberal.
One of these definitions we provide for liberal is “a person who believes that government should be active in supporting social and political change”; it is up to you to choose whether that is a good thing or a bad thing. In other words, “We define, you decide.”
Word History
What Exactly Is a 'Liberal'?
No one wants a 'servile arts' degree
What does it mean to say that a person is a liberal, or to say that a thing may be described with this word? The answer, as is so often the case with the English language, is “it depends.”
'Liberal' shares a root with 'liberty' and can mean anything from "generous" to "loose" to "broad-minded." Politically, it means "“a person who believes that government should be active in supporting social and political change."
Liberal can be traced back to the Latin word liber (meaning “free”), which is also the root of liberty ("the quality or state of being free") and libertine ("one leading a dissolute life"). However, we did not simply take the word liber and make it into liberal; our modern term for the inhabitants of the leftish side of the political spectrum comes more recently from the Latin liberalis, which means “of or constituting liberal arts, of freedom, of a freedman.”
We still see a strong connection between our use of the word liberal and liber in the origins of liberal arts. In Latin, liber functioned as an adjective, to describe a person who was “free, independent,” and contrasted with the word servus (“slavish, servile”). The Romans had artes liberales (“liberal arts”) and artes serviles (“servile arts”); the former were geared toward freemen (consisting of such subjects as grammar, logic, and rhetoric), while the latter were more concerned with occupational skills.
We borrowed liberal arts from French in the 14th century, and sometime after this liberal began to be used in conjunction with other words (such as education, profession, and pastime). When paired with these other words liberal was serving to indicate that the things described were fitting for a person of high social status. However, at the same time that the term liberal arts was beginning to make 14th century college-tuition-paying-parents a bit nervous about their children’s future job prospects, liberal was also being used as an adjective to indicate “generosity” and “bounteousness.” By the 15th century, people were using liberal to mean “bestowed in a generous and openhanded way,” as in “poured a liberal glass of wine.”
The word's meaning kept shifting. By the 18th century, people were using liberal to indicate that something was “not strict or rigorous.” The political antonyms of liberal and conservative began to take shape in the 19th century, as the British Whigs and Tories began to adopt these as titles for their respective parties.
Liberal is commonly used as a label for political parties in a number of other countries, although the positions these parties take do not always correspond to the sense of liberal that people in the United States commonly give it. In the US, the word has been associated with both the Republican and Democratic parties (now it is more commonly attached to the latter), although generally it has been in a descriptive, rather than a titular, sense.
The word has—for some people, at least—taken on some negative connotations when used in a political sense in the United States. It is still embraced with pride by others. We can see these associations with the word traced back to the early and mid-20th century in its combination with other words, such as pinko:
Thanks to The Dove, pinko-liberal journal of campus opinion at the University of Kansas, a small part of the world last week learned some inner workings of a Japanese college boy.
—Time: the Weekly Newsmagazine, 7 Jun., 1926
"To the well-to-do," writes Editor Oswald Garrison Villard of the pinko-liberal Nation, "contented and privileged, Older is an anathema.
—Time: the Weekly Newsmagazine, 9 Sept., 1929
Pinko liberals—the kind who have been so sympathetic with communistic ideals down through the years—will howl to high heaven.
—The Mason City Globe-Gazette (Mason City, IA), 12 Jun., 1940
The term limousine liberal, meaning "a wealthy political liberal," is older than many people realize; although the phrase was long believed to have originated in the 1960s, recent evidence shows that we have been sneering at “limousine liberals” almost as long as we have had limousines:
“Limousine liberals” is another phrase that has been attached to these comfortable nibblers at anarchy. But it seems to us too bourgeois. It may do as a subdivision of our higher priced Bolsheviki.
—New York Tribune, 5 May, 1919
Even with a highly polysemous word such as liberal we can usually figure out contextually which of its many possible senses is meant. However, when the word takes on multiple and closely-related meanings that are all related to politics, it can be rather difficult to tell one from another. These senses can be further muddied by the fact that we now have two distinct groups who each feel rather differently about some of the meanings of liberal.
One of these definitions we provide for liberal is “a person who believes that government should be active in supporting social and political change”; it is up to you to choose whether that is a good thing or a bad thing. In other words, “We define, you decide.”
Guess what, chief. The word "gay" used to mean "happy". Wasn't until the last few decades that it became used to describe "homosexual". You think there are some happy people out there who want to be referred to as "gay" now that the meaning is essentially something different?
Time to get with the program and stop calling yourself a Libertarian. Because as society sees Libertarians today, you aren't.
Hah, are you really trying to compare Trump’s and Obama’s intelligence?
Anyway, whatever with this nonsense you’re on. A guy who has run a pizza joint is not a banker. You right wingers have made a similar argument that the president needs to be a businessman too. Obviously, that proved not too sound with the election of the admitted idiot you voted for.
Why are you trying to make the claim that the republicans are the party of financial regulation? Next you’ll tell me republicans are the party of the environment because Nixon created the EPA. What kind of time warp are you living in?
Yeah, let’s just hand the Fed over to an iMac. Brilliant.
Your statement is certainly plausible. If you mean it to demean Herman Caine however, you are way off the mark.
This is the guy you would mock:
Cain grew up in Georgia and graduated from Morehouse College in 1967 with a Bachelor of Science in Mathematics. Cain pursued graduate studies at Purdue University and graduated with a Master of Science in Computer Science in 1971, while also working full-time for the U.S. Department of the Navy. In 1977, he joined the Pillsbury Company in Minneapolis where he later became vice president. During the 1980s, his success as a business executive at Burger King prompted Pillsbury to appoint him as chairman and CEO of Godfather's Pizza, in which capacity he served from 1986 to 1996.
Cain was chairman of the Federal Reserve Bank of Kansas City Omaha Branch from 1989 to 1991. He was deputy chairman, from 1992 to 1994, and then chairman until 1996, of the Federal Reserve Bank of Kansas City. In 1994, Cain publicly opposed the Health Security Act, resulting in him being appointed to the Kemp Commission in 1995. In 1996, he served as a senior economic adviser to Bob Dole's presidential campaign. Cain became the CEO of the National Restaurant Association, in which he served as president and CEO from 1996 to 1999. Additionally, he has served as a member of the board of directors of several companies. https://en.wikipedia.org/wiki/Herman_Cain
How much more can a person do to be qualified? He was on the Bank of KC Board for seven years. Apparently uppity blacks are not welcome in some circles however. They prefer theirs to be trained in the racial grievance industry rather than business and banking.
I see that I left out of the discussion above on the incorrect use of the term "libertarian" by many in the U.S. what the the linguist and political scientist, Chomsky, has contributed. He too has noticed the incorrect use of the term "libertarian" by neo-liberals and has expressed the view that the term "anarcho-capitalist" better suits their politics. I think Chomsky's term is both accurate and descriptive and better than neo-liberal, which is too apt to be confused with Liberal or Libertarian politics, which are both, in fact, radically different from the politics of the neo-liberals.
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The reporting is Cain lacks enough gop support in the senate so too bad I guess.