Bernie Sanders
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Zach Carter ?@zachdcarter 4h4 hours ago
1. The 2016 election has been pretty sad in a lot of ways.
Zach Carter ?@zachdcarter 4h4 hours ago
2. It's particularly sad to watch a bunch of people who claimed to care about Wall Street reform just totally discard it as an issue.
Zach Carter ?@zachdcarter 4h4 hours ago
3. The people guffawing at this Sanders interview on breaking up the banks clearly have never had any interest in this issue at all.
Zach Carter ?@zachdcarter 4h4 hours ago
4. The legal landscape he describes is basically correct and not embarrassing to anyone who actually understands it.
Zach Carter ?@zachdcarter 4h4 hours ago
5. Everybody who studies this thinks the best way to break up the banks is to set a size threshold and make the banks do it.
Zach Carter ?@zachdcarter 4h4 hours ago
6. There is and never has been any need for the government to detail what the banks should do.
Zach Carter ?@zachdcarter 4h4 hours ago
7. Just tell them $X is too much, let them downsize in the most profitable way they can.
Zach Carter ?@zachdcarter 4h4 hours ago
8. People in a democracy are allowed to care about different issues, and don't have to care about economic policy if they don't want to.
Zach Carter ?@zachdcarter 3h3 hours ago
9. But it's pretty sad when people pretend to be allies and then crap all over Wall Street reform bc they like a different candidate.
Zach Carter ?@zachdcarter 4h4 hours ago
10. Much of the Democratic Party is deeply apathetic on economic policy. And this election is bringing it all out.
https://twitter.com/zachdcarter
BillZBubb
(10,650 posts)Particularly No. 9 which describes the Hillary fanatics to a tee.
octoberlib
(14,971 posts)favor of breaking up the big banks when Bush was President and the economy crashed.
Hydra
(14,459 posts)Some of us who were leading the charge against the Bush Admin started having our attacks blunted here by people we would now call establishment supporters. They weren't so much bothered by the behavior before that as much as they were bothered that it wasn't "our" people doing it.
BillZBubb
(10,650 posts)Now all the Hillary fanatics trash any suggestion of doing so--because her Majesty doesn't support it. It is sad really. I've certainly lost a lot of respect for many people here. It has been eye opening.
Hydra
(14,459 posts)Team Hill is encouraging this. I studied a lot of economics during the Bush Era to track what they were doing. The idea that we have no way forward except the way we've been doing it is a carefully cultivated rejection of all other options in favor of the people who are currently benefiting.
Sorry, Climate Change does not give a damn about what the 1% wants.
MisterP
(23,730 posts)carefully-culled, veal-penned, broken-down Dems who literally don't care what a candidate supports as long as they're in the right party and "can win" don't
Baobab
(4,667 posts)Background Paper
The WTOs General Agreement on Trade in Services (GATS): Implications for Regulation of Financial Services in the U.S.
https://www.citizen.org/documents/WTO,GATSandfinancialservicesderegulationFORUPLOAD102108.pdf
SUMMARY: Deregulation of the financial service sector including banking, insurance, asset
management, pension funds, securities, financial information, and financial advisory services has
been among the most important, but least discussed aspects of the World Trade Organizations
(WTO) agenda since its 1995 inception. As part of its original WTO commitments, the United
States agreed to conform a broad array of financial services to comply with regulatory limits
established in the WTOs General Agreement on Trade in Services (GATS). Given the decade-plus
push by various financial service firms to roll back domestic regulation, some of the U.S. WTO
commitments simply locked into place existing policies. In other cases, for instance regarding the
firewall policies established in the 1933 Glass-Steagall Act that forbade bank holding companies
from operating other financial services, U.S. WTO commitments that contradicted domestic policy
were used to push for domestic revocation of existing laws. The United States then used ongoing
WTO financial service negotiations to export the U.S. model of extreme financial service
deregulation to the other 100-plus WTO signatory countries, including through a 1999 WTO
Financial Service Agreement (FSA.)
***
Prior to establishment of the North American Free Trade Agreement (NAFTA) in 1994 and the
WTO in 1995, the scope of trade agreements was limited to setting the terms of exchange of goods
across borders, namely cutting tariffs and lifting quotas. The WTO and NAFTA were called trade
agreements but they are more accurately understood as international commercial agreements. More
broadly, they can be understood as delivery mechanisms for a particular economic model often
known as neoliberalism. WTO, NAFTA and various NAFTA-modeled Free Trade Agreements
(FTAs) include binding rules that limit the parameters for signatory nations service-sector,
investment, procurement, intellectual-property, environmental and safety policies. In addition to this
deregulatory agenda, the pacts establish new property rights regarding intellectual property and
foreign-investor treatment.
Each WTO signatory country is required to ensure the conformity of its laws, regulations and
administrative procedures with its obligations. 1 In contrast to the operation of most other
international agreements, this new generation of trade agreements is strongly enforced. Signatory
countries that fail to conform domestic laws to the pacts terms may be challenged before dispute....
Thats from https://www.citizen.org/documents/WTO,GATSandfinancialservicesderegulationFORUPLOAD102108.pdf
See also:
https://www.citizen.org/documents/memo-gats-conflict-with-bank-size-limits-may-10-2011.pdf
also
https://www.citizen.org/documents/FinanceReregulationFactSheetFINAL.pdf