DO NOTHING DEM CONGRESS SAYS "FUCK IT"...WE ARE GOING ON VACATION, YOU DEAL WITH THE CRISIS. SEE YA AFTER ELECTIONS. WE'RE OUTTA HERE

seems to me the dems cannot do anything in congress because the republicans keep blocking them or filibustering. Bernanke and Paulson the so called experts do not have any idea what to do, NO one has ever been at this point before with the entanglement of derivatives, subprime, hedgefunds and the like all going unregulated for the past 9 years since the republican congress forced the derailing of the Glass Steagall Act.

Puleeze....put the blame where it should be. CLinton had the final word on that bill, could have vetoed it, could have threatened to veto it, could have asked for changes in wording and threaten to veto if that wasn't done and could have vetoed it if it was sent up to him without those changes. He did nothing but got what he wanted and asked for and signed it inot law immediately.
I see Harry "not me!" Reid is now pointing the finger at Graham, lol, about all these useless pricks do well is point.


>>>>>>>>>
Democrats Blame Phil Gramm; Ignore 89 Other Senators, Including Joe Biden, Who Voted For Same Bill

The latest...

Democrats and their allies attempted to tie Wall Street's growing financial crisis to the policies advocated by John McCain's former senior adviser.

The critics are pointing to a 1999 law co-sponsored by then-Sen. Phil Gramm (R-Texas) and that paved the way for consolidation between commercial and investment banks.

Which prompts one of my readers in the financial world to call "horsepuckey."

One can have many, many opinions on Gramm-Leach-Bliley, but to blame it for our current problems is a stretch in and of itself. That's a bit like blaming drunk driving deaths on the repeal of Prohibition. But then to blame Gramm solely for the contents of the bill is ludicrous. Even if it had language in it that said "initiate banking self-destruct sequence in 2008," anyone who knows anything about our legislative process knows that there were 534 other congressmen and women who can alter, add and delete a bill during the process. After that, the President could have rejected the whole thing, but didn't. Phil Gramm did not dream up that act in his basement one night. (In fact, studies on repealing Depression era banking laws had been happening for years. I'm no economics historian, but I believe it was a cottage industry amongst economists and academics at one point in the 80's.)

Don't get me wrong, Phil Gramm was instrumental in getting the bill passed, but the bill passed the Senate 90 to 8. (And only one senator registered as not voting. Any guesses on who the non-voter was? You got it: John McCain!) It passed the House 362 to 57. This was not a squeaker by any stretch. Then it was signed by Bill Clinton. He could have vetoed it, and even threatened to do so, but insisted on language being included in the bill that ensured application of the Community Reinvestment Act (CRA) to the financial institutions that were basically created by the law. (BTW - The deadlock on this amendment was broken by Chuck Schumer and Chris Dodd looking out for Wall Street and insurance companies who stood to gain tremendously under the bill.) When he got his way, he signed the bill amidst much hoopla. In fact, looking back on the process, the biggest worry about the bill was in protecting consumer privacy. There was nary a discussion about undermining the banking infrastructure.

Many liberal bloggers tout Biden's opposition to Gramm-Leach-Bliley, a claim that is (surprise!) not quite accurate. He voted against the initial version that passed the Senate, but then voted for the conference report (the final version signed into law).

UPDATE: Two more points: first, from Campaign Spot's Much More Financially Savvy Cousin, the observation, "Gramm-Leach-Bliley, which eliminated the rules that separated commercial and investment banking, is now actually helping to save Merrill Lynch. Bank of America could not buy Merrill if GLB had not taken down the wall."

Second, the "Leach" in Gramm-Leach-Bliley - former Congressman Jim Leach - is one of the founders of "Republicans For Obama."


[link to campaignspot.nationalreview.com]

It was the way he introduced it. Hours before christmas break. Everyone went by his word. Im not even certain they had to be present to vote.



Hours before christmas break? It was signed into law on nov.12,1999 thats hours before xmas break?

OP and his fucking ridiculous nature aside, they are BOTH OWNED...

Are those congress people with the little "R" next to their name leaving too?

Have they stood up and said - "Hey let's not go on vacation."

Yeah.

Didn't think so.

Wake up stupid, they are all puppets, only idiots don't get that yet.

The President is disengaged,
there is no leadership.

Just plunderers.

The President is disengaged,
there is no leadership.

Just plunderers.




Easy for you to say...you suck besides there is nothing we tax payers can do to control the fucking libbies.

The President is disengaged,
there is no leadership.

Just plunderers.




Easy for you to say...you suck besides there is nothing we tax payers can do to control the fucking libbies.

The President is disengaged,
there is no leadership.

Just plunderers.

How brain dead do you have to be to vote demo-rat?

Can't you see it's the party that HATES AMERICA

Wake up people they just want to destroy us!!

a vote for Obama is a vote for Pelosi/Reid