New glass- Stegal Bill

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Glass-Steagall Act Would Be Revived In New Bill From Elizabeth Warren, Bipartisan Coalition

http://www.huffingtonpost.com/2013/0...n_3580967.html

The bill looks like an excellent idea. However, is Wall Street now so corrupted (criminal) that it can not function as an honest entity.

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No opinions? The old Glass Steagal bill was made law in the 30s as a prevention for Banks gambling your deposit money. If their bets go wrong like in 1929, your money wasn't involved. It worked well until 1999 under Bill Clinton and I believe a republican congress, voted it out and the excuse given, was it tied the hands of Bankers.

Just 9 years later it was one of the main reasons we had a stock market crash, housing bubble collapse and bank crisis, that is costing us every day since, with the QE programs of the FED.

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If John Mccain and and the fake indian are behind it I'm against it

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If John Mccain and and the fake indian are behind it I'm against it

Solid reasoning, would you be against it if it cost you anywhere from $2.000 to $50,000 a year, for the rest of your life? Would you be against it, if it cost everything you had?

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Solid reasoning, would you be against it if it cost you anywhere from $2.000 to $50,000 a year, for the rest of your life? Would you be against it, if it cost everything you had?

can't take what I don't have , other policies any of them in DC has put is about ready to destroy the U S

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i don't trust weasels

[Clayton_Wetter]

Elizabeth Warren is a flaming Progressive. Right in lockstep with Obummer, Reid, Pelosi, and the rest of them. What good they do is for the good of the Progressives movement and they are not concerned about preserving this nation as it was founded. That is a start of defining these despicable people.

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that's what I said lmao

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Do you ever wonder why loans are so hard to get, even with all this QE money being pumped into the banks? They don't have to loan money to keep banks open. They have turned banks into stock speculators instead of lenders. It's also risky business and as we have seen in 2008, it is our risk, not the banks. They are too big to fail.

The main thing the original Glass Stegal law did, was separate Investment banks from commercial banks. A commercial bank could not engage in any stock market risk because the depositors didn't buy into potential losses. They basically saved money at low interest with no risk. When you do business with an investment bank, you more or less buy stock in it and take on the risk.

It doesn't matter who's idea this is, it is something very necessary to insure the savings of the avrage man and protecting the economy from another crash like 2008 or the one in 1929. It was something that worked for 70 years. If it isn't broke, don't fix it. It's broke right now and desperately needs this fix put back in place. I don't care if Bozo the clown introduced it to law. If you think FDIC is going to guarantee all deposits, you need to know how it works.

Federal deposit insurance is paid for by the banks, but guaranteed by us taxpayers. Here is the thing. There isn't enough money to pay off all depositors. Even though there was no big run on banks in 2008, fear made the bank bail out necessary. They bailed out the big ones and let around 103 go under. It wasn't that they couldn't pay off their depositors, the FDIC would cover that if they couldn't. Their balance sheets, debts to assets wouldn't allow them to operate as a bank under banking rules. The big banks who where forced to take the bail out money whether they needed it or not, just to quench any fear that could lead to a bank run. Most of them paid it back in one month. Trouble is, it wasn't deducted from the national debt and we will be paying interest on that 5 billion forever. This was how ever a lot cheaper than if there had been a run, that may have cost us taxpayers uo to 20 billion because we guaranteed the FDIC.

I have to be truthful, I haven't read the bill. If it's like the old one, I'm all for it. It's sad, but banks need to be regulated as we have seen they can not self regulate.

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that 's why I am a t a credit union

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that 's why I am a t a credit union

Funny you should say that. Did you realize there are different rules for credit Unions? They are held to a much higher standard. Saving and Loans are somewhere in between.

If you notice they have that little sign that says FDIC insured also.

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Funny you should say that. Did you realize there are different rules for credit Unions? They are held to a much higher standard. Saving and Loans are somewhere in between.If you notice they have that little sign that says FDIC insured also.

they also don't charge and arm and leg if you go in the red a day or to unlike most banks

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http://www.collapsereport.info/#209798186.html

[mudslinger47]

If E. Warren is putting it forward, it ain't any good for us, I can pretty much guarantee ya that...the Democrats haven't done anything FOR the middle class for decades, well, except for makin' it smaller...

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but they preach they do