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kpete

(72,022 posts)
Sun Nov 15, 2015, 06:10 PM Nov 2015

KRUGMAN: For what it’s worth, Mrs. Clinton had the better case.


For what it’s worth, Mrs. Clinton had the better case. Mr. Sanders has been focused on restoring Glass-Steagall, the rule that separated deposit-taking banks from riskier wheeling and dealing. And repealing Glass-Steagall was indeed a mistake. But it’s not what caused the financial crisis, which arose instead from “shadow banks” like Lehman Brothers, which don’t take deposits but can nonetheless wreak havoc when they fail. Mrs. Clinton has laid out a plan to rein in shadow banks; so far, Mr. Sanders hasn’t.

But is Mrs. Clinton’s promise to take a tough line on the financial industry credible? Or would she, once in the White House, return to the finance-friendly, deregulatory policies of the 1990s?

Well, if Wall Street’s attitude and its political giving are any indication, financiers themselves believe that any Democrat, Mrs. Clinton very much included, would be serious about policing their industry’s excesses. And that’s why they’re doing all they can to elect a Republican.


more:
http://www.nytimes.com/2015/10/16/opinion/democrats-republicans-and-wall-street-tycoons.html?_r=1
67 replies = new reply since forum marked as read
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KRUGMAN: For what it’s worth, Mrs. Clinton had the better case. (Original Post) kpete Nov 2015 OP
This is exactly what I was wondering about earlier. randys1 Nov 2015 #1
Why do you trust Reich? MaggieD Nov 2015 #24
Wow.. and I agreed before I saw that .. that he's full of himself. Cha Nov 2015 #64
Kick. Agschmid Nov 2015 #2
"Rein in shadow banks" says Krugman. We can learn plenty by oasis Nov 2015 #50
Interesting statement from a person whose judgment I trust. SusanCalvin Nov 2015 #3
What does a Nobel laureate know that the denizens of this board don't? DemocratSinceBirth Nov 2015 #4
Maybe not denizens, but definitely misinformed. Hoyt Nov 2015 #6
Economics is an inexact science... DemocratSinceBirth Nov 2015 #8
To be fair mythology Nov 2015 #63
. RandySF Nov 2015 #5
I trust Krugman on this issue. DCBob Nov 2015 #7
There is not any reward for doing a bad job as president, we have had a bad president in this Thinkingabout Nov 2015 #9
Clinton failed as Sec of State ish of the hammer Nov 2015 #21
I have heard this RW talking point before, wasn't true when said it or now. Thinkingabout Nov 2015 #27
We came, we saw, he died - ish of the hammer Nov 2015 #33
Oh, she only did one thing as Secretary of State? RW to say the least. Thinkingabout Nov 2015 #35
"She has not failed in the positions she has held in the past" ish of the hammer Nov 2015 #39
There is much more to Secretary of State, RW talking points does not reveal everything. Thinkingabout Nov 2015 #40
How are you enjoying your retirement so far? ish of the hammer Nov 2015 #42
I still work. Thinkingabout Nov 2015 #43
better hurry up and retire - Clinton said she was "open" to raising the retirement age. ish of the hammer Nov 2015 #44
Been tbere amd done that, in fact my full retirement was raised. I am more interested in seeing the Thinkingabout Nov 2015 #46
I've always wondered how the repubs get people to vote ish of the hammer Nov 2015 #45
From some of what I see is no interest by Democrats about what happens but take full time bitching. Thinkingabout Nov 2015 #47
K AND R! JaneyVee Nov 2015 #10
She is NOT going to regulate in any way her friends. onecaliberal Nov 2015 #11
Exactly, do we see her actually doing it? No. nt artislife Nov 2015 #15
Is this why Sanders votes the NRA way? I guess he can't regulate because they are his friends. Thinkingabout Nov 2015 #36
Beating that dead horse again? d_legendary1 Nov 2015 #48
Not as often as the Wall Street claims, she was a senator from NY, who int hell was she supposed to Thinkingabout Nov 2015 #49
Her constituents perhaps? d_legendary1 Nov 2015 #51
Actually Elizabeth Warren spent $42M in her senate run, you may want to update the numbers. Thinkingabout Nov 2015 #52
I know I said on average d_legendary1 Nov 2015 #53
I have always thought allegiance for $18,000 id ridiculous. To top.this off it was Thinkingabout Nov 2015 #54
K & R Jim__ Nov 2015 #12
If they are doing all they can to elect an (R)... Motown_Johnny Nov 2015 #13
Nope, it is reasonable to believe they do not waste (their own) money on long shots. bettyellen Nov 2015 #14
That is not part of the premise presented Motown_Johnny Nov 2015 #30
LOL @ the complex plot in your mind. History says otherwise, but you go right ahead believing that. bettyellen Nov 2015 #34
Not complex for most people. Motown_Johnny Nov 2015 #55
they always donate to BOTH candidates in the general- so that belies your assumption. bettyellen Nov 2015 #60
Not my assumption... Motown_Johnny Nov 2015 #66
Meh, it's as easy to believe that as it is that some here are paid shills looking to screw up bettyellen Nov 2015 #67
They are buttering both sides of their bread. They win no matter who wins. Hiraeth Nov 2015 #37
Not if Bernie wins they don't. n/t Motown_Johnny Nov 2015 #56
k&R Historic NY Nov 2015 #16
Krugman needs to squeeze further under the bus mcar Nov 2015 #17
Dumb argument. Vattel Nov 2015 #18
Paul Krugman is in the pocket of the banksters!! Seriously, he may well be the most intelligent... George II Nov 2015 #19
nope ish of the hammer Nov 2015 #22
No surprise. Krugman never met an establishment Democratic position or pol he didn't like. merrily Nov 2015 #20
It amazes me how a revered Nobel Prize winning economist Agnosticsherbet Nov 2015 #23
Oh they will shove that bern down his throat. "Hillary had the better case". Deal with it. Cha Nov 2015 #65
Not a surprise. She simply knows the issues better than anyone stevenleser Nov 2015 #25
The best qualifed presidential running. Thinkingabout Nov 2015 #41
Exactly. SunSeeker Nov 2015 #26
I love this so much! mcar Nov 2015 #31
Wall Street is definitely doing all it can to elect a republican. sulphurdunn Nov 2015 #28
yep, pretty weak BS alrighty stupidicus Nov 2015 #29
Someone got to Krugman? WTH does he think Gramm-Leach-Bliley did exactly??? Roland99 Nov 2015 #32
What did the Commodities Futures Modernization Act do, it was a big player in Thinkingabout Nov 2015 #38
Well, the text was changed in the bill Roland99 Nov 2015 #57
He voted for it. Thinkingabout Nov 2015 #59
And Hillary voted for the IWR Roland99 Nov 2015 #61
Exactly, she admitted her mistake, when is Sanders going to apoligize. He voted against the Thinkingabout Nov 2015 #62
Maybe Krugman is only angling for a position in a Hillary Administration he has at other times Todays_Illusion Nov 2015 #58

randys1

(16,286 posts)
1. This is exactly what I was wondering about earlier.
Sun Nov 15, 2015, 06:12 PM
Nov 2015

Last edited Sun Nov 15, 2015, 07:13 PM - Edit history (2)

Glass Steagall is needed, I get so confused about which banks did what



Reich says it would, i trust him

http://robertreich.org/post/124114229225

 

MaggieD

(7,393 posts)
24. Why do you trust Reich?
Sun Nov 15, 2015, 08:48 PM
Nov 2015

First, he's not an economist (he's a lawyer). Second, he's all in favor of Bernie's college plan, but he fails to disclose that he gets paid $250k per year to teach one class at a public university (UC Berkely). He's part of the reason college is so expensive. Dude is full of himself.

SusanCalvin

(6,592 posts)
3. Interesting statement from a person whose judgment I trust.
Sun Nov 15, 2015, 06:13 PM
Nov 2015

If Hillary gets the nomination, hope he's right.

DemocratSinceBirth

(99,714 posts)
8. Economics is an inexact science...
Sun Nov 15, 2015, 06:22 PM
Nov 2015

I wonder what the results would have been if we went with the two trillion dollar stimulus he advocated and not the nearly one trillion dollar stimulus that we did.

 

mythology

(9,527 posts)
63. To be fair
Mon Nov 16, 2015, 04:50 PM
Nov 2015

Henry Kissenger has a Nobel Peace Prize and Milton Friedman for economics. Krug man is smart, but economics is hard to get right every time.

Thinkingabout

(30,058 posts)
9. There is not any reward for doing a bad job as president, we have had a bad president in this
Sun Nov 15, 2015, 06:24 PM
Nov 2015

Century, Bush was enough. She has not failed in the positions she has held in the past, I dont see it in the future for her.

ish of the hammer

(444 posts)
21. Clinton failed as Sec of State
Sun Nov 15, 2015, 08:26 PM
Nov 2015

I present to you Libya and the resulting death, destruction and unending streams of refugees.

ish of the hammer

(444 posts)
39. "She has not failed in the positions she has held in the past"
Sun Nov 15, 2015, 10:38 PM
Nov 2015

Libya was a terrible failure. Thousands of people died and are continuing to die as a result.
RW talking point, indeed!
It used to be that only repubs hated FACTS!
oh wait.... we're talking about the Clintons

ish of the hammer

(444 posts)
44. better hurry up and retire - Clinton said she was "open" to raising the retirement age.
Sun Nov 15, 2015, 11:12 PM
Nov 2015

It helps to have a business plan.

Thinkingabout

(30,058 posts)
46. Been tbere amd done that, in fact my full retirement was raised. I am more interested in seeing the
Sun Nov 15, 2015, 11:26 PM
Nov 2015

Younger generations receiving benefits. Without the last reform there would not be anything after 2012, I am benefiting from that reform. I am not greedy.

ish of the hammer

(444 posts)
45. I've always wondered how the repubs get people to vote
Sun Nov 15, 2015, 11:23 PM
Nov 2015

against their own best interests. Perhaps you can explain?

Thinkingabout

(30,058 posts)
47. From some of what I see is no interest by Democrats about what happens but take full time bitching.
Sun Nov 15, 2015, 11:29 PM
Nov 2015

There are more Democrats than Republicans, we lose elections because lack of concern or just plain lazy for some.

onecaliberal

(32,902 posts)
11. She is NOT going to regulate in any way her friends.
Sun Nov 15, 2015, 06:49 PM
Nov 2015

The same people giving her millions right now. Can anyone on the planet believe they're doing that out of the goodness of their hearts.

Thinkingabout

(30,058 posts)
49. Not as often as the Wall Street claims, she was a senator from NY, who int hell was she supposed to
Sun Nov 15, 2015, 11:39 PM
Nov 2015

Represent. That $18,000 donation the NRA made to defeat Sanders opponent is still working for the NRA.

d_legendary1

(2,586 posts)
51. Her constituents perhaps?
Sun Nov 15, 2015, 11:56 PM
Nov 2015

It takes on average of $1,689,580 to run for the Senate. I fail to see how .01% of that amount makes Sanders a tool for the NRA.

Thinkingabout

(30,058 posts)
52. Actually Elizabeth Warren spent $42M in her senate run, you may want to update the numbers.
Mon Nov 16, 2015, 12:05 AM
Nov 2015

I don't understand his allegiance to the NRA either.

d_legendary1

(2,586 posts)
53. I know I said on average
Mon Nov 16, 2015, 12:15 AM
Nov 2015

And using your higher number it makes your claim about Sanders and the NRA look even more ridiculous.

Thinkingabout

(30,058 posts)
54. I have always thought allegiance for $18,000 id ridiculous. To top.this off it was
Mon Nov 16, 2015, 12:26 AM
Nov 2015

When he was elected to congress twenty five years ago.

 

Motown_Johnny

(22,308 posts)
13. If they are doing all they can to elect an (R)...
Sun Nov 15, 2015, 06:51 PM
Nov 2015

...and they are donating to Hillary now, to help her win the nomination, then isn't it reasonable to conclude that they believe she will lose to an (R) in the GE?


 

bettyellen

(47,209 posts)
14. Nope, it is reasonable to believe they do not waste (their own) money on long shots.
Sun Nov 15, 2015, 06:58 PM
Nov 2015

Historically, they have given to both Dem and Republican candidates. But more to republicans.

 

Motown_Johnny

(22,308 posts)
30. That is not part of the premise presented
Sun Nov 15, 2015, 09:09 PM
Nov 2015

Last edited Mon Nov 16, 2015, 07:31 AM - Edit history (1)

Even if they are giving to the R's too, the reason they give to Hillary and not Bernie is because they expect her to lose.

Again, the basic assumption is that they doing everything possible to ellect an R. That would include the donations made to Hillary.


 

bettyellen

(47,209 posts)
34. LOL @ the complex plot in your mind. History says otherwise, but you go right ahead believing that.
Sun Nov 15, 2015, 09:18 PM
Nov 2015
 

Motown_Johnny

(22,308 posts)
55. Not complex for most people.
Mon Nov 16, 2015, 07:31 AM
Nov 2015

I am simply able to comprehend the word "everything" in the phrase "doing everything possible to elect a Republican".

Maybe you should look that word up.


 

Motown_Johnny

(22,308 posts)
66. Not my assumption...
Mon Nov 16, 2015, 06:50 PM
Nov 2015

I am commenting on Krugman's premise.


I know they always donate to both sides, that is not the topic of this discussion.




 

bettyellen

(47,209 posts)
67. Meh, it's as easy to believe that as it is that some here are paid shills looking to screw up
Mon Nov 16, 2015, 06:54 PM
Nov 2015

the campaigns they pretend to support. Do you think manny of them are actually republicans?

 

Vattel

(9,289 posts)
18. Dumb argument.
Sun Nov 15, 2015, 07:57 PM
Nov 2015

Preferring the Republican only requires believing that Wall Street will do better with a Republican than any Democrat. it doesn't require thinking that any Democrat will take a tough line on the financial industry. Krugman is usually smarter than this.

George II

(67,782 posts)
19. Paul Krugman is in the pocket of the banksters!! Seriously, he may well be the most intelligent...
Sun Nov 15, 2015, 08:08 PM
Nov 2015

....and aware economist in the world today. Brilliant, and an excellent column by him.

Agnosticsherbet

(11,619 posts)
23. It amazes me how a revered Nobel Prize winning economist
Sun Nov 15, 2015, 08:33 PM
Nov 2015

Becomes bus fodder and Bankster trash when he does not feel the Bern.

 

sulphurdunn

(6,891 posts)
28. Wall Street is definitely doing all it can to elect a republican.
Sun Nov 15, 2015, 09:07 PM
Nov 2015

And it doesn't care which party it elects one from either.

 

stupidicus

(2,570 posts)
29. yep, pretty weak BS alrighty
Sun Nov 15, 2015, 09:07 PM
Nov 2015

which is no doubt why he premised it with "for what it's worth"...

it has no value whatseoever if his assumptions are flawed/faulty, like

1. Bernie's eventual plan isn't as narrow as he claims

2. Similarly, if she sticks to her guns and doesn't pursue a renewal of GS, and overall is less hard on WS than BS as will almost certainly be the case, then the fact that she is better than any repub doesn't make her better than her dem opponents on this issue.

If anything, he appears to making that case himself, but ignoring it.

Roland99

(53,342 posts)
32. Someone got to Krugman? WTH does he think Gramm-Leach-Bliley did exactly???
Sun Nov 15, 2015, 09:15 PM
Nov 2015

It made Citibank a legal entity, ex post facto and removed the last barrier of protection leftover from the Great Depression

And if anyone thinks Hillary will lift one finger against Wall St, they have another thing coming. Look at Obama. He campaigned on more progressive economic stances and had progressive economists around him and as soon as he took office he appointed Geithner and a bunch of Bank of America execs to his top economic spots.

Yeah...that worked well.

Thinkingabout

(30,058 posts)
38. What did the Commodities Futures Modernization Act do, it was a big player in
Sun Nov 15, 2015, 09:26 PM
Nov 2015

Financial crisis, Sanders voted for this bill.

Thinkingabout

(30,058 posts)
62. Exactly, she admitted her mistake, when is Sanders going to apoligize. He voted against the
Mon Nov 16, 2015, 04:38 PM
Nov 2015

Brady Bill five times, he voted against the ISIS Resolution.

Todays_Illusion

(1,209 posts)
58. Maybe Krugman is only angling for a position in a Hillary Administration he has at other times
Mon Nov 16, 2015, 12:47 PM
Nov 2015

revealed a bit of a lean to those libertarian Democratic ideas.

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