Hillary in a tough spot as Glass-Steagall takes center stage

[pinebox]

It seems Hillary is in a tough spot on this one.

Glass-Steagall takes center stage in 2016
http://www.democraticunderground.com/?com=forum&id=1251

The debate is leaving the 2016 field, and particularly Hillary Clinton, in a tough spot.

“A lot of people view it as a litmus test,” said Dennis Kelleher, president and CEO of the Wall Street reform group Better Markets.

For those who are in favor of restoring the law, a candidate’s backing Glass-Steagall says “‘I get it, I get it. I will be tough on Wall Street. Trust me,’” Kelleher said.

Calls from the left and right for a return to Glass-Steagall have popped up all over the campaign trail, particularly from feisty populist underdogs.

The calls are more popular on the Democratic side, where both Sen. Bernie Sanders (I-Vt.) and former Maryland Gov. Martin O’Malley have echoed Sen. Elizabeth Warren (D-Mass.) in supporting restoration of the law.

In the Republican field, former Arkansas Gov. Mike Huckabee is the only active candidate who backs putting Glass-Steagall back in place, though former Texas Gov. Rick Perry proposed a new banking firewall as part of his Wall Street overhaul before he dropped out of the race.

Democratic frontrunner Hillary Clinton and many of her potential GOP rivals are trying to find space in the center to tap into public unrest over Wall Street without turning off Wall Street’s deep fundraising wells.

An October Washington Post/ABC News poll found that most members of both parties favor tougher rules for the financial sector, with 67 percent of overall Americans in favor of a further crackdown.

[FlatBaroque]

1. But...but..Shadow banking

Or something

[lewebley3]

3. No Hillaryis not in a spot: She has a stronger plan against the bank

[EndElectoral]

4. Yes her plan is take the banks campaign contributions and say she's getting tougher on them than G/S

[lewebley3]

6. Wrong, you didn't listen to the Debate: Typical Sanders supporter

you only hear what you want to hear.

[pinebox]

11. Point us to Hillary's tough plan to replace Glass-Steagall please

[Old Crow]

19. I'm with Pinebox.

Yes, please point us to this tough legislation stronger than Glass-Steagall that you say Hillary is planning to enact.

[daleanime]

24. And you wrong about that also.....

nice streak you've got going there.

[DianeK]

38. I saw the debate..

she wagged her finger at them in 2007..that did a bunch of good! she is desperate to hold on to that bottomless well of dollars flowing into her campaign...that does not in any way come close to being tough on Wallstreet..this issue is Hillary's achilles heel

[Scuba]

8. Yeah! She'll definately tell them to "cut it out."!!!!

[fbc]

17. She may also tell them to knock it off.

[tecelote]

18. 'Bet their shaking in their boots for fear that she'll return with even tougher words!

But, she did her job and everything is so much better now.

[lewebley3]

20. No, that was not her plan, you didn't listen to the Debate or read

what Hillary has published on the issue, you a just a blind
Sanders supporter

[peacebird]

22. You have been asked three times to post a link to her plan in this thread....

So, does she have a plan somewhere on line that you can point us to?

[lewebley3]

23. Do your own homework: Sanders supporter need to learn to work

[daleanime]

25. Sorry, too busy working on campaign....

to help you put together a coherent point.

[lewebley3]

34. Checkmate

[Thespian2]

32. She was definitely tough on NASDAQ...

the tech stock market that WAS NOT responsible for the crash of the US economy...The banks, both US and Canadian, have added more than a million USD's to her personal account...Yeah, the 1%er will be very tough on the greedy bastards...Well, not so much...you know, hand that feeds you and all...

[99th_Monkey]

2. It may be only a matter of time, Hillary may pay lip service to Glass-Steagall yet.

It actually wouldn't surprise me, well, maybe a little, but not very much.

and needless to say, I wouldn't find it very believable.

[firebrand80]

5. I doubt most people even know what Glass-Stegall is

let alone it being some sort of litmus test.

This is not to say that Wall St. reform isn't an issue, I just don't think that a candidate's position on that particular law is going to move a large segment of voters.

[lewebley3]

7. Agreed: but we know where a lot of Dem's stand on this!

[sabrina 1]

9. She doesn't support it. That's revealing and will hurt her, IS hurting her. As it should. No

Democrat should be opposed to restoring that legislation which helped avoid the collapse we witnessed in 2008 which is still devastating so many Americans.

[lewebley3]

21. No it won't hurt her Hillary, Hillary has a great plan to deal with the banks

[taught_me_patience]

10. Almost nobody knows about glass-stegall

let alone cares about it one iota.

[pinebox]

12. Almost nobody knows about SNAP either

but the very second you say "Food Stamps" (replace it with Wall Street Reform) they do XD
People care a whole lot about it.

[think]

13. Or replace it with "Break up the too big to fail banks" Everyone understands that....

[pinebox]

14. agreed!

[jwirr]

31. Oh, they care about it even though they do not understand

why. As soon as they begin to realize it is the reason that their money is part of the "Too big to fail" banks gambling games on overseas investments and why there is now less money for local investment in their own communities they will know. Just a matter of time and education.

The only thing they do not know is what this threat to their own money is and what would stop it - Glass-Steagall.

The New Democrats are banking on the voters being stupid. But this election we are talking real issues and learning what is at stack.

[zappaman]

15. Ok. n/t

[retrowire]

28. Alright. n/t

[Herman4747]

16. FDR Establishes Glass-Steagall, Bill Clinton takes it away. nt

[peacebird]

26. Agree. CNN Money says WallStreet isn't worried about Hillarys plans.

http://money.cnn.com/2015/10/08/investing/hillary-clinton-wall-street-plan/index.html

And really, why would they be? Considering all the money they have given her. Goldman Sux CEO is on the record saying he doesn't care if the next pres is Hillary or Jeb, all the same to him.

[Hoyt]

27. As long as she continues to support strenghtening Volcker Rule, we'll be fine.

[peacebird]

29. More on Hillary and her banking plan...

"Just for viewers at home who may not be reading up on this, Glass-Steagall is the Depression-era banking law repealed in 1999 that prevented commercial banks from engaging in investment banking and insurance activities. Secretary Clinton, he raises a fundamental difference on this stage. Sen. Sanders wants to break up the big Wall Street banks. You don't. You say charge the banks more, continue to monitor them. Why is your plan better?"

Backing up: When Bill Clinton took office, it was still illegal in the United States for commercial banks to merge with investment banks and insurance companies. But toward the end of Clinton's second term, he signed a bill called the Gramm-Leach-Bliley Act that essentially created Too Big to Fail "supermarket" banks like Citigroup.

This isn't the only reason the financial system is so dangerous now. There's also the matter of the extreme interconnectedness of the financial services industry. This problem came violently into play in 2008, when the failure of a single idiot investment bank, Lehman Brothers, caused a chain reaction that nearly blew up the whole financial system.



Read more: http://www.rollingstone.com/politics/news/hillary-clintons-take-on-banks-wont-hold-up-20151014#ixzz3rJ5KHoex
Follow us: @rollingstone on Twitter | RollingStone on Facebook

[upaloopa]

30. Glass-Steagall are words to most people

Those opposed to Hillary use them as battering ram hoping no ones ever understands that the law would not have prevented the recession.


http://www.nytimes.com/2015/10/16/opinion/democrats-republicans-and-wall-street-tycoons.html?_r=0

Democrats, Republicans and Wall Street Tycoons


OCT. 16, 2015


Paul Krugman


Hillary Clinton and Bernie Sanders had an argument about financial regulation during Tuesday’s debate — but it wasn’t about whether to crack down on banks. Instead, it was about whose plan was tougher. The contrast with Republicans like Jeb Bush or Marco Rubio, who have pledged to reverse even the moderate financial reforms enacted in 2010, couldn’t be stronger.


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.

[pinebox]

36. And so is SNAP and TARP

but the very second you say "Wall Street Reform", "Food Stamps", "Bailout", people know exactly what you're talking about.

[upaloopa]

39. People also know what lies and bull shit mean too

As Krugman pointed out
Mrs Clinton has the better plan

[George II]

33. Only those who WANT her to be "in a tough spot" will think so.

[EndElectoral]

35. She is still "evolving" on the issue

[MisterP]

37. because of this she'll be for it by December

too bad for her nobody can believe it'll last past January 2017