That way the MSM won’t have enough time to cover for Obama.

The Glass-Steagall dodge

Democrats have tried to cast blame for the credit-sector meltdown on
deregulation, and point to the repeal of the Glass-Steagall Act as the
linchpin. The repeal came in 1999, though, and it did nothing to cause
the……

Earlier today, I talked about how I tend to be a bit more convinced by detailed explanations that vague generalities and empty statistics. While I was preparing that piece, I……

ROCKMOM—-AGAIN,YOU ROCK!

(would like to copy and paste to my site with permission and credit of course)

The laws said that banks couldn’t buy insurance companies. They changed the law to create ‘Citigroup’. That’s why the new logo is the red ‘umbrella’ over the ‘t’ in Citi. Travelers had a red umbrella logo.

I remember that everyone was saying that the deal couldn’t go through because of this law. Then 6 months later, bingo presto, they changed the law and the deal was done.

When DC says they are looking out for the American people, they are lying. They look out for what will get them re-elected no matter how. Big money donors help buy lots of ads so they get preference.

This is pure demagoguery by the Democrats, as well as major CYA to change the subject from their own culpability in the Fannie-Freddie disaster.

rockmom on October 1, 2008 at 10:20 AM

You’re right rockmom, but with the MSM in lock-step with the Dims, most of the voting public is never going to know the truth. I can’t understand why McCain and the Republicans aren’t screaming about this at the top of their lungs at every opportunity.

Democrats don’t want to talk about the real problems at the heart of this crisis.

Apparently, neither does McCain.

I simply don’t understand the way McCain has conducted himself in the past two and a half weeks. If he’s keeping mum for the sake of bipartisan cooperation in the bail-out bill, great. The bail-out will get enacted, and McCain will lose in a landslide.

McCain has needed to explain how, when the GOP had power, the Dems were still able to block Fannie and Freddie oversight. And then he needs to explain how he’d prevent that kind of thing from happening again.

He hasn’t, it’s unclear whether he will, it’s even more unclear whether a Johnny-come-lately explanation will have any effect on swing voters, and he’s going to lose because of his inaction.

If you all haven’t seen this video, I strongly urge you to spend the little time it takes to watch it. It was recorded in 1985 and what that ex-KGB agent says is coming true right now.

techno_barbarian on October 1, 2008 at 9:51 AM”

techno,

Scary stuff. I watched the video. I see everything the KGB agent said. The main “take away” I got, was that for those who have been “programmed” by Marxist thought, as some of my friends and family have become, there is no set of facts you can put in front of them to change their minds. Obama is “The One.”

The dems have already beaten us to the punch demanding fairniess in radio. It is the one place we can get through the lunacy and get real information, so they are trying to shut down it down or make talk radio provide liberal shouter-downers to drown out conservative voices.

Laura in Maryland on October 1, 2008 at 10:24 AM

Yes, but the government has no business getting involved in defining and enforcing “fairness”, that’s just government using their big stick to suppress free speech. However citizens can expose the bias and dishonesty of the media (like Rush et all do) unfortunately talk radio can be discredited by the same mass media and seems to mostly reach the converted.

Chuck Schumer spinning his head off on CNBC.

He has to figuratively get inches from his face and read him the riot act. He has to be Patton.

Short of that McCain has no chance of being President.

patrick neid on September 30, 2008 at 7:44 PM

patrick neid on October 1, 2008 at 10:06 AM

Yes, why not ask Obama in the next debate: “Can you assure the American public that you will not name as you secretary of the treasury Franklin Raines, one of your top economic advisers who is currently under investigation for his major role in the financial crisis?” and make him answer. wouldn’t it be nice?

neuquenguy on October 1, 2008 at 10:18 AM

The dems have already beaten us to the punch demanding fairniess in radio. It is the one place we can get through the lunacy and get real information, so they are trying to shut down it down or make talk radio provide liberal shouter-downers to drown out conservative voices.

The event that really sparked the change was Citibank’s attempt to buy Travelers Insurance. Glass-Steagall prohibited that purchase, though the Fed allowed it on the assumption that eventually the law would be changed.

Following that purchase, oddly enough the other major banks did not follow suit and buy insurance companies, nor did they buy investment banks. It’s hard for me to understand what effects of “deregulation” Democrats are talking about as being caused by GLB. The big mistakes made were the investment banks buying mortgage companies, and as far as I know they could have done that wthout GLB because they bought mortgage companies that were not depositories. The rise of mortgage securitization started in the 1980s and was going full tilt beefore GLB. The derivatives market was developing before GLB. The use of structured investment vehicles and credit default swaps was not a rsult of GLB.

GLB did not “deregulate” the banks. Banks continued to hve capital requirements and safety and soundness rules and were subject to examinations by their regulators after GLB as they were before. GLB changed the definition of financial services in which they were allowed to engage.

Investment banks like Goldman Sachs and Lehman were never diectly federally regulated as banks, but were supposed to be regulated by the SEC. If there is a regulatory culprit in all of this, other than the Fannie Mae regulatory disaster, it is the SEC’s failure to keep up with the derivatives and credit default swaps, and the abolition of the uptick rule and rules against naked short selling.

This is pure demagoguery by the Democrats, as well as major CYA to change the subject from their own culpability in the Fannie-Freddie disaster.

It’s time to stand up and hold these people accountable. It’s time to approach the media and the democrats from the standpoint that they have been liars and hypocrites in the past and must prove their assertions from that benchmark.

We’ve allowed them to paint us from the base point of being obviously racist greedy lying pigs for far too long.

Turn The Tables.

Dorvillian on October 1, 2008 at 9:28 AM

For the sake of our democracy we need a way to hold the media in particular more accountable. And don’t tell me that we have had a biased press all of our history. May be so but they did not have the means of mass distribution diverse medium they have today.
Of course a free press is essential and that is why they receive special privileges as the 4th state but with the privilege comes responsibility. It needs to be a grass-roots movement, because every time a politician tries to point out their bias they respond by accusing people in power to try to influence the media.
Perhaps we need “Citizens for the Defense of Democracy through a Fair Press” organization, with lots of for public campaigns, and put TV and newspaper adds out every day clearly exposing double-standards and bias. Just dreaming a little….

patrick neid on October 1, 2008 at 10:06 AM

You reverend, me choir. The man needs to stop worrying about civility and work on communication. It is an uphill battle with the MSM acting as Obama’s personal smear machine. (Pretty lady has job as lobbyist = McCain affair, but a hotel rendevous with babymama = Edwards concern for single mom is no one’s business.)

Get Morris and/or Rove actually working on this and let the country know what kind of lies we are being told. Emperor Obama is naked!