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The U.S. Republican Party on Monday approved a new policy platform that calls for reinstating the 1933 Glass-Steagall law requiring the separation of commercial and investment banking, an addition White House hopeful Donald Trump’s campaign said it backed.

Trump, who will formally accept the Republican presidential nomination in Cleveland this week, has vowed to dismantle most of the Dodd-Frank Wall Street reform law that was passed under President Barack Obama following the 2007-2009 financial crisis.

The language in the Republican platform offered further details on Trump’s regulatory policies.

Trump, who has sought to cast himself as a populist, has accused presumptive Democratic presidential nominee Hillary Clinton of being too close to Wall Street. Her husband, former President Bill Clinton, signed the legislation that repealed Glass-Steagall in 1999.

“The Obama-Clinton years have passed legislation that has been favorable to the big banks, which is why you see all the Wall Street money going to her,” Paul Manafort, Trump’s campaign manager, told reporters on Monday. “They know she’s their champion, and they are supporting her fully.”

kalm wrote:Both parties are now calling for a reinstatement of Glass-Steagall.

But, but I though de-regulation was good and the CRA is what caused the housing bubble???

The U.S. Republican Party on Monday approved a new policy platform that calls for reinstating the 1933 Glass-Steagall law requiring the separation of commercial and investment banking, an addition White House hopeful Donald Trump’s campaign said it backed.

Trump, who will formally accept the Republican presidential nomination in Cleveland this week, has vowed to dismantle most of the Dodd-Frank Wall Street reform law that was passed under President Barack Obama following the 2007-2009 financial crisis.

The language in the Republican platform offered further details on Trump’s regulatory policies.

Trump, who has sought to cast himself as a populist, has accused presumptive Democratic presidential nominee Hillary Clinton of being too close to Wall Street. Her husband, former President Bill Clinton, signed the legislation that repealed Glass-Steagall in 1999.

“The Obama-Clinton years have passed legislation that has been favorable to the big banks, which is why you see all the Wall Street money going to her,” Paul Manafort, Trump’s campaign manager, told reporters on Monday. “They know she’s their champion, and they are supporting her fully.”

http://www.rawstory.com/2016/07/new-gop ... nking-law/

Ibanez wrote:

kalm wrote:Both parties are now calling for a reinstatement of Glass-Steagall.

But, but I though de-regulation was good and the CRA is what caused the housing bubble???





http://www.rawstory.com/2016/07/new-gop ... nking-law/

Good. Good.

Actually....yeah that's good. IF anything ever comes out of this, that means there will be plenty of work for me in the future. Sweet. And when the next war comes, i'll bounce back to the defense industry and make a killing. And then when that's over, i'll go back to the banking industry and make a killing. It's like a revolving door.

It's like being a Real Estate Appraiser. When the market is good, you have plenty of work b/c everyone is buying and selling. When the market is bad, you have plenty of work b/c everyone is losing and needs to know how much.

Grizalltheway wrote:

Ibanez wrote:
Good. Good.

Actually....yeah that's good. IF anything ever comes out of this, that means there will be plenty of work for me in the future. Sweet. And when the next war comes, i'll bounce back to the defense industry and make a killing. And then when that's over, i'll go back to the banking industry and make a killing. It's like a revolving door.

It's like being a Real Estate Appraiser. When the market is good, you have plenty of work b/c everyone is buying and selling. When the market is bad, you have plenty of work b/c everyone is losing and needs to know how much.

Correct me if I'm wrong, but wouldn't something like this have a negative impact on the big banks as they're currently configured?

Ibanez wrote:

Grizalltheway wrote:
Correct me if I'm wrong, but wouldn't something like this have a negative impact on the big banks as they're currently configured?

I'msure there would be a negative impact, but that isn't important. What's important is the level of impact.

I'm a project manager dealing with insider threats on information systems. Any dismantling of the current business model will inject huge amounts of risk into the lines of business. There will be projects upon projects to handle the dismantling and reconfiguration. It'll take time, at least 2-3 years.

kalm wrote:

Ibanez wrote: I'msure there would be a negative impact, but that isn't important. What's important is the level of impact.

I'm a project manager dealing with insider threats on information systems. Any dismantling of the current business model will inject huge amounts of risk into the lines of business. There will be projects upon projects to handle the dismantling and reconfiguration. It'll take time, at least 2-3 years.

Parasite!!!