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BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated

 
Monocyte
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07/13/2012 05:11 PM
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BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
It seems the Oligarchs have realized the derivatives black-hole is set to suck them down just like everything and everyone else.

They're now considering wiping out the speculative debt via a Glass-Steagall regulatory reorganization.

For years, realistic economists have been urging reinstatement of the United States Glass-Steagall Act. Now perhaps there is a chance of this happening.


Top British Bankers Shift for Glass-Steagall
[link to www.larouchepub.com]


Lyndon LaRouche Responds to Britain · July 7, 2012



HARLEY SCHLANGER - LIBOR Crime Spree Opens Door for Glass-Steagall



Info-Graphic: Restore Glass-Steagall
[link to larouchepac.com]
Anonymous Coward
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07/13/2012 05:13 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
This is very important.

But Larouche seems like a cult leader.I dont trust him.
Anonymous Coward
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07/13/2012 05:13 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
this is too complex for glp
Monocyte  (OP)

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07/13/2012 05:17 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
This is very important.

But Larouche seems like a cult leader.I dont trust him.
 Quoting: Anonymous Coward 19705992


I don't like the whole cult of personality, but a lot of what he says makes sense, along with Webster Tarpley.

I disagree with LaRouche on his views on Nuclear Energy and his promotion of it.

That being said, hypothetically, a LaRouche presidency would be far better than what we've got now... Jeez.
Monocyte  (OP)

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07/13/2012 05:19 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
this is too complex for glp
 Quoting: Anonymous Coward 19663972



lmao


But... there *are* some smart folks who stop in from time to time.
Monocyte  (OP)

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07/13/2012 05:33 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
bump
Anonymous Coward
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07/13/2012 05:34 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
the banksters have run up a debt of 900 trillion dollars

there is nothing to be done but arrest them like iceland did and declare a debt moratorium

the taxpayers can't bail them out again 900 trillion is too much
Monocyte  (OP)

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07/13/2012 05:49 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
110 views, three responses... Hmm...
Monocyte  (OP)

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07/13/2012 07:24 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
bump
Anonymous Coward
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07/13/2012 07:27 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
i told you too complex for glp
Monocyte  (OP)

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07/13/2012 07:45 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
i told you too complex for glp
 Quoting: Anonymous Coward 19663972


I guess you're right. Oh well.
Anonymous Coward
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Egypt
07/13/2012 08:15 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Let the Casinos gamble with their own funny money
Anonymous Coward
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Egypt
07/13/2012 08:18 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Thread: Glass-Steagall Showdown Will Decide Your Future.

This thread has good info related to this now.
ISLANDIA

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07/13/2012 08:20 PM

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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
yep that is exactly what we need

We cannot control ourselves so put some limits on who is allowed to play in any game

Wall street plays on wall street.

Banks Play on Main street

INsurance companies well they play with themselves

bump
Anonymous Coward
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Egypt
07/13/2012 08:30 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
yep that is exactly what we need

We cannot control ourselves so put some limits on who is allowed to play in any game

Wall street plays on wall street.

Banks Play on Main street

INsurance companies well they play with themselves

bump
 Quoting: ISLANDIA


+100000000
Anonymous Coward
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07/13/2012 08:46 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
I am one little peep who supports having the investment bankers support themselves. If they lose, they pay.

How did we ever get to the point to where the taxpayers have to pay for the investment bankers' dealing debts?
Anonymous Coward
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07/13/2012 08:58 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Too fucking late for these assholes. They created a huge monster that will be totally out of their control. This monster will consume these fuckers along with poor schmukes.
Factual Error

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07/13/2012 08:58 PM

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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Larouche is an old school conspiracy theorist. Sort of like the GLP of the pre-internet age. Your grandfathers conspiracy theories.
Not intended to be a factual statement.
Anonymous Coward
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07/13/2012 10:00 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Most of Larouche's conspiracy theories have proved to be true.

Cons by piracy require the con fidence of the marks.
CoinGuy

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07/13/2012 10:02 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
This is very important.

But Larouche seems like a cult leader.I dont trust him.
 Quoting: Anonymous Coward 19705992

this
Anonymous Coward
User ID: 10818676
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07/13/2012 10:04 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
This is very important.

But Larouche seems like a cult leader.I dont trust him.
 Quoting: Anonymous Coward 19705992


I don't like the whole cult of personality, but a lot of what he says makes sense, along with Webster Tarpley.

I disagree with LaRouche on his views on Nuclear Energy and his promotion of it.

That being said, hypothetically, a LaRouche presidency would be far better than what we've got now... Jeez.
 Quoting: Monocyte


what we have is unbelievably easy to follow.
Larouche isn't my cup of tea but a blind squirrel sometimes finds a nut.
Anonymous Coward
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07/13/2012 10:14 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
this is too complex for glp
 Quoting: Anonymous Coward 19663972


Glass-Steagall! Isn't that some kind of fine china...
Anonymous Coward
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07/13/2012 10:43 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
110 views, three responses... Hmm...
 Quoting: Monocyte

Look, I dont respond to every post, but I can assure you I'm doing backflips while wearing my wifes briefs in concern to this story
Anonymous Coward
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07/13/2012 10:45 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Too fucking late for Glass Seagall. It's time to do away with debt based currency.
Anonymous Coward
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Egypt
07/13/2012 10:46 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
110 views, three responses... Hmm...
 Quoting: Monocyte

Look, I dont respond to every post, but I can assure you I'm doing backflips while wearing my wifes briefs in concern to this story
 Quoting: Anonymous Coward 18393173


Pic please chuckle

Seriously it is weird how not many responses even though pinned - this is BIG.
Anonymous Coward
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07/13/2012 10:51 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
i told you too complex for glp
 Quoting: Anonymous Coward 19663972


we just wore the subject out years ago
where were you?
FatalW1shes

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07/13/2012 10:54 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Glass Steagall isn't going to save them.

Credit Default Swaps are an unregulated nightmare.

They didn't even exist in 1933.

Glass Steagall is all about Securities...Stocks.

I'm not sure this will keep the collapse from happening, perhaps they just want the money out of their stocks.
Anonymous Coward
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07/13/2012 10:56 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated

[link to www.youtube.com]
Anonymous Coward
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07/13/2012 10:57 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
Larouche is an old school conspiracy theorist. Sort of like the GLP of the pre-internet age. Your grandfathers conspiracy theories.
 Quoting: Factual Error


Your an idiot who knows very little.
FatalW1shes

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07/13/2012 11:00 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
 Quoting: Anonymous Coward 8164313


Ahh..so the Glass Steagall prevented them from writing Insurance....which is a CDS....

Intersting....

So they better reinstate the Glass-Steagall to stop the madness.

Unintended consequences....
Anonymous Coward
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07/13/2012 11:00 PM
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Re: BREAKING: British Oligarchs Panic, Want Glass-Steagall Reinstated
You need to explain to people exactly what this means when you introduce a topic of such import.
The Cantwell-McCain amendment (S.A. 3884)recommends the introduction of Glass-Steagall. In short, it forces banks to seperate commercial banking from high risk investment banking and insurance (as it was in the past).

Here is some history on this subject that might help.

Obama went into hyperdrive in frenzied attempt to have this removed from the Dodd Bill.

"Restoring Glass-Steagall is the first step toward realizing the prosperity, at home and abroad, which Franklin D. Roosevelt envisioned after World War II. The British sabotaged that vision then; they must not be allowed to do so again." www.larouchepub.com/other/2010/3720gl-st_decide_future.html

Glass-Steagall Fight Breaks Into the Major Italian Media

May 19, 2010 (LPAC)— Corriere della Sera, Italy's largest daily newspaper, published an article by economics editor Massimo Mucchetti on Monday, May 17, endorsing the Cantwell-McCain amendment now before the U.S. Senate, which would re-establish the Glass-Steagall separation of commercial and investment banking, and calling for its emulation in Europe.

Under the headline "Banks: The Example of the U.S. Senate; A Bipartisan Proposal To Reform the Financial System," Mucchetti writes: "They insist. Arizona Senator John McCain and Senator Maria Cantwell of the state of Washington, have formalized their project, announced last December, to reintroduce the Glass-Steagall Act in an amendment to the reform of the financial sector promoted by the White House. McCain, a former military officer, is 74 years old and is a Republican. Cantwell, a 52-year- old environmentalist, is a Democrat. In their view, commercial banking must be again separated from investment banking, as the 1933 legislation (repealed in 1999) prescribed.
[link to www.larouchepub.com]

Merkel Government Announces Sovereign Ban on Certain Categories of Derivatives

May 20, 2010 (LPAC)—After the close of European markets on May 18, Germany's financial services regulator Bafin announced a ban on naked short-selling and credit default swaps, effective immediately, arguing that there was "exceptional volatility" in the markets and systemic threats. German Chancellor Angela Merkel, in a speech to Parliament Wednesday, elaborated that the measure was required to face "an existential threat to financial stability in Europe and even the world." Although the Bafin measure technically will last only through March 31, 2011, Merkel clarified that "all of this will stay in effect until another solution has been found at the European level."

The City of London, and their allies in continental Europe, went ballistic. In part, they are hysterical over the content of the measure: to them, any limitation at all on predatory speculation is not acceptable, and in this case they got caught totally off guard and are in a "short squeeze," which means that a bunch of banks had to run out and purchase the underlying stocks and bonds that they had speculated on — i.e, they took big losses. But even more, the British were frothing over the fact that Germany dared to act unilaterally and without advising anyone in advance — i.e., they acted like a sovereign nation.

The London Daily Telegraph prominently quoted a London-based trader who said that "nobody ever thought they'd do this in a million years," and then went on to threaten: "it raises the long-term question of who is now going to want to buy their debt." Similarly, a senior European banking source reported that when he informed his country's central bank about the German decision early this morning, before the news reports were out, he was at first accused of being drunk: Germany would never do that without telling us, he was lectured, so go sober up.

But do it they did. Which led to outraged bankers and traders sputtering on and on about how the measure was "an act of desperation"; "it's so ham-fisted its laughable"; and "it smacks of knee-jerk panic."

[link to cecaust.com.au]





GLP