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View Diary: Alan Grayson Rips the 'Liar' Alan Greenspan a New One (233 comments)

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  •  with his team (2+ / 0-)
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    greeseyparrot, Badabing

    And now "his team" is back in charge and running things the same old way. In spite of the change we were told we were going to get.

    The Gramm legislation, which permitted the merger of investment and commercial banks into too-big-to-fail corporations (including Citigroup and AIG, two financial giants that had to be bailed out by taxpayers), was thought by Obama the candidate to be a key cause of the meltdown. But as president he reappointed the Clinton-era officials who had sided with Gramm in ending sensible banking regulations that had protected the public for 70 years and made the U.S. banking system the envy of the world.

    Rather than restore Glass-Steagall, the Obama-backed banking regulation bill passed last month by the Democratic majority in the House went along with the desire of Wall Street lobbyists to prevent the breakup of the big conglomerates and to block control of their massive trading in the derivatives that proved to be so toxic.

    http://www.commondreams.org/...

    Bipartinship means "Yes we can! As long as the Republicans agree to let us."

    by William Domingo on Thu Apr 08, 2010 at 03:10:32 PM PDT

    [ Parent ]

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