What is going on in Europe?
- Thread starter On Our own
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And ALL the politicians are in their pockets. Campaign reform and term limits would work wonders. The whole start of this mess as previously mentioned was when the Glass Stengal act was repealed in 2000. Phil Graham initiated the bill. All but 8 senators voted for the repeal and Clinton signed off on it. That was when the big banks started playing fast and loose with high risk investments. Before then it was illegal for them to do that. They were regulated. Then life was good for a while. Lots of money made even if it was artificial. Lots of people got rich, the smart ones knew what was going ion and cashed out in time.
We're all in it together unless your rich. We're in steerage class on the Titanic.
We're all in it together unless your rich. We're in steerage class on the Titanic.
Banking Deregualtion began in the 1980's with the
Depository Institutions Deregulation and Monetary Control Act of 1980
(Carter) and the Garn-St. Germain Depository Institutions Act of 1982 (Reagan). These Acts were supposed to help the recession but many new taxes were placed to help the US out of this recession, including the Tax Equity and Fiscal Responsibility Act of 1982 (Reagan) which increased corporate taxes.
I remember that my parents were horrified that so much banking deregulation was occurring. They picked their banks carefully after that. I believe soon after that many small Savings and Loans failed. I am not an economist, just my opinion that if our country is to be strong we need more regulation of where our money is stored. It is enough that banks make profits on our money through interest. They should not need deregulation to invest in shady schemes. Maybe banks should have to have big dots on their buildings, red=I invest in shady corporations who like to hide their profits in untouchable foreign banks, yellow=I invest in US holdings only but anything here, and green=I only invest in the safest investments with individuals who are hard working SS people. Ha!
Depository Institutions Deregulation and Monetary Control Act of 1980
(Carter) and the Garn-St. Germain Depository Institutions Act of 1982 (Reagan). These Acts were supposed to help the recession but many new taxes were placed to help the US out of this recession, including the Tax Equity and Fiscal Responsibility Act of 1982 (Reagan) which increased corporate taxes.
I remember that my parents were horrified that so much banking deregulation was occurring. They picked their banks carefully after that. I believe soon after that many small Savings and Loans failed. I am not an economist, just my opinion that if our country is to be strong we need more regulation of where our money is stored. It is enough that banks make profits on our money through interest. They should not need deregulation to invest in shady schemes. Maybe banks should have to have big dots on their buildings, red=I invest in shady corporations who like to hide their profits in untouchable foreign banks, yellow=I invest in US holdings only but anything here, and green=I only invest in the safest investments with individuals who are hard working SS people. Ha!
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On Our own
Lovin' The Homestead
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Milton Freidman.
He and his followers (Reagan was a huge fan) strongly believed that a "free" market would regulate itself. That theory holds that the people in charge of corporations would not do anything that would endanger the long term health of the corporation.
It never took into account the robber barons who would deliberately drive a company into the ground to line their own pockets and then walk away from the wreckage.
You want truly free markets try Somalia.
Tallman
Almost Self-Reliant
Daddy, your right about this; however, I don't see how it could happen. These people will not give up power.Big Daddy said:
I would like to inject something that I have thought for a long time. It is the way our congress is paid. Their salary comes out of the federal budget, and they control the federal budget. What a deal!
I would suggest that each state pay it's representation in D.C. out of the state budget which is controlled by the state legislators. To carry it further, I think that each county budget should control the salary of their legislators, but this would have to be done as each state sees fit.
This would not help the perks that these people get from their corporate buddies, but it would allow the people to have some control.
As far as corporate money in government goes, wouldn't it be neat if our elected people were required to wear coveralls to work with their corporate sponsors patches on them like NASCAR drivers do?
reinbeau
Moderator Extraordinaire
Not set up, but selected - as a willing puppet. I really don't think he knows what to do, he's in it deep - he gets guidance from the teleprompter.....Wifezilla said:
Of the Corporation, by the Corporation, and for the Corporation is what's truly wrong here.
Homesteadmom
Frugal Homesteader
And don't forget groomed too.reinbeau said:Not set up, but selected - as a willing puppet. I really don't think he knows what to do, he's in it deep - he gets guidance from the teleprompter.....Wifezilla said:
Of the Corporation, by the Corporation, and for the Corporation is what's truly wrong here.
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On Our own
Lovin' The Homestead
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I started this thread talking about Europe, and I still wonder.
What people frequently seem to miss is that we are largely governed - as many of you pointed out - by corporate puppets, at all levels of government.
But, those corporations which have become truly international genuinely have no sense of sovereignty. There is no sense of loyalty to any nation, or its laws, or its economy, for that matter. Look at what the Bank of England did to Iceland! Was that political or simply business?
It is speculated that some corporations have attempted to save themselves at the expense of he American economy. It is also speculated that some corporations started the collapse in the attempt to manipulate international currency trade.
When you are loyal to none but the profit what stops you from behaving like they have??
What people frequently seem to miss is that we are largely governed - as many of you pointed out - by corporate puppets, at all levels of government.
But, those corporations which have become truly international genuinely have no sense of sovereignty. There is no sense of loyalty to any nation, or its laws, or its economy, for that matter. Look at what the Bank of England did to Iceland! Was that political or simply business?
It is speculated that some corporations have attempted to save themselves at the expense of he American economy. It is also speculated that some corporations started the collapse in the attempt to manipulate international currency trade.
When you are loyal to none but the profit what stops you from behaving like they have??
