There were actually 8 Senators who voted against it. Here's the full list: Sen. Barbara Boxer (D-CA) Former Senator Richard Bryan (D-NV) Sen. Byron Dorgan (D-ND) Sen. Russ Feingold (D-WI) Sen. Tom Harkin (D-IA) Sen. Barbara Mikulski (D-MD) Sen. Richard Shelby (R-AL) and the late Sen. Paul Wellstone (D-MN)
Thank God for senators like Dorgan, Sanders, Feingold, Boxer, and the late Teddy Kennedy. Not many too many honest voices in the U.S. Senate these days.
I saw the "FRONTLINE" episode about the hearings concerning "deriviatives" in the early 90's (for those of you who dont watch PBS...? nevermind) scarey and sobering
I just saw a video of a girl with big boobs attempting to play guitar and failing at it. It affects no one, and it had 2+ million views. This video only has 16,732 views right now, and the content of it speaks to issues that will affect hundreds of millions for decades. It makes me sad for humanity. We are doomed.
@Adnihilo There's a difference between simply voting and speaking out and warning. Out of those 44 Democrats, how many had something to say and registered it in the records of Congress? And the truth is, Paul didn't vote against it. He did not want to appear to be against a rare bill for deregulation which he would be in favor of in most cases. He abstained and presented a proposal instead which kept the deregulation, but removed the taxpayer from possible liability for bank default.
I had never noticed that before - just an example of the changes in language that are constantly going on. It perhaps shows a decline in the understanding of Latin, influence of other languages etc. I cannot as a teacher of English decry it - I am intrigued by it.
Ron Paul voted against the repeal because of, as he warned, the increased taxpayer liability. He wanted to extract the over-regulation in G-S but keep the parts of the act that protected the taxpayer from the risk of banker speculation and put forward a bill to do just that. He also warned of the potential ramifications which eventually came to pass. But, of course, Cenk is not going to mention that fact since Cenk thinks he is so much smarter than Paul.
@Adnihilo Separating commercial and investment banking is not necessary when the banking system is transparent, and when the government doesn't guarantee a banks survival. Banks all over the world engage in both practices and function perfectly fine. There are many who will argue that Glass-Steagal made the Depression worse. Regulations are often part of a corporate strategy and political manipulation. The original G-S was probably a Rockefeller ploy, and the repeal was a Citibank ploy.
"Permit me to issue and control the money of the nation and I care not who makes its laws." - Mayer Amsched Rothchild "Nobody seems to notice, nobody seems to care...." - George carlin
@Adnihilo By the way, Ralph Nader likes Ron Paul. So does Dennis Kucinich. That doesn't mean they'd vote for him because of fundamental differences, especially on social policy, but they both recognize that he is a fellow champion against the corruption of Corporatism. I'm not entirelyt happy with Paul's position on social policy, either. It's pure libertarian, but it doesn't matter. A President doesn't have that kind of power to change social policy, but he does have power on monetary policy.
LMAO. The government forces banks to make bad loans and then points the finger at them for doing it when the house of cards collapses. How hypocritical can it get?
him saying how bad everything was scared the shit of people. the greatest danger is fear when it comes to to economy. people get scared, they dont spend or invest. he started talking how bad everything was before the banks went bust./
How Come about 20 years ago everybody stopped saying, "10th anniversary" and started saying, "10 year anniversary." And Cenk goes with, "10th year anniversary." I like "10th anniversary." The way everybody USED TO say it. Anniversary has 'year' in it already.
@Adnihilo The simple argument against your contention that deregulation caused the crisis, is yes, deregulation caused the crisis. That's what happens when you make a radical change. Unbridled forces exploit the new territory and go wild, and then they collapse, and out of the collapse, the functioning entities survive. Deregulation did not create "too big to fail." Government did. Deregulation should have created "too big AND fail," but government prevented failing. It created an unreal world.
@Adnihilo In other words, the economy is a total mess and you're not going to solve the problem by cleaning up the mess. If there's a solution, it's in revamping the system, from the ground up. That's why you start with monetary policy, and not only monetary policy, but money itself. You start with constructing a definition of money.
Preach on! They have to bring it back. A megabank like JPMorgan doesn't need to invest in the economy, they can just put their money at work in bonds, or deriviates or trading. They can do it all! You need to split commercial and investment, that way you take the gambling out of everyday lending.
@Adnihilo The consumer should be aware of the risks that are being taken by the bank he is placing his deposits in. If he accepts the higher risks for better return, then he should suffer the consequences if the bank fails. If he desires security, then he should stay with a strictly commercial bank. If the banks get too big, and risk too much and fail, then they should be allowed to fail--that is Capitalism. We don't have Capitalism. We have Corporatism. The banks own the politics in the USA.
They didn't exactly sit on their asses, though. They lept to their feet to defend the interests of their paymasters. Personal short-term gain is worth decimating a whole country over for these jerks, and they have the power and money to buy as many congressmen as they want. Clean money is the best answer for that.
@tryptala I you mention Dorgan for being vocal against this bill, then you should mention Paul for being vocal with the same argument. Besides, Paul and Dorgan, who else was vocal against this bill and warned of its potential to screw the taxpayer?
@Adnihilo Roll Call 276? What the hell are you talking about? A 2007 bill for emergency supplemental appropriations? Yeah, he voted against that. What planet are you beaming from? If there's been anyone who's been vocal against "too big to fail," it's been Ron Paul. Too big to fail means the government bails them out at your expense. There is nothing more repugnant than "too big to fail," and Paul would say so himself.
Monopolization is the highest form of regulation a government can impose. In a way, few sectors are as tightly controlled by the State as banking. Try to start a bank with your own currency, I dare you. See how long it takes before the government either demands you make it all redeemable in dollars so they can take a part and control your credit. See how 'deregulated' banking is for yourself.
@therealcharismatron Its only too big according to the laws against monopolies. Check out the worker owned companies, they have something special to offer, search for Mondragon hear on TH-cam and check out another model of capitalism.
@Adnihilo Then I went and skimmed through the comments section. It was too mentally agonizing to suffer it too closely. It reminds me of watching theists and atheists battling it out. The think they've hinged on the primary question, but in reality they're both in this little room created by the culture they've been raised in. Is there a God? Yes, of course. I can see Him right there in their arguments. They're batting Him back and forth in their every prescribed argument. The keep Him existing.
Anti Trust Alert, Let's nail them! Cut them up into separate banks, and make them chose (Again) Investment or commercial bank. And de-repeal the law (Or make a new one, and don't FUBAR it.)
@hint0122 You think that if he had pretended that there was no problems the US would be in a better situation? Don't you think people would have realized the economy was in the shitter when banks started to go bust?
@Adnihilo The present economy is a cultural construction full of lots of little funny structures and then arguing within it becomes this billiard ball game where the balls are bouncing off these structures and ricocheting and hitting the opponents balls and it's all this game on this tabled defined by the placement of these little structures. A better battle is to stay on your home turf and shell each other with the heavy artillery disrespective of the little cultural structures.
lla deverias ir aprendiendo espanol. lo vas a nesecitar porque de alguna manera el 50% de tu vida va a estar relacionada con mi mundo el grandioso y extenso mundo latino.,al menos yo se espanol y englis.y tu solo sabes englis asiesque busca a alguien que te tradusca.ok by
......You're kidding me, right? What regulation!? When did we start regulating anything? WE HAVEN'T HAD REGULATION FOR THE PAST TEN YEARS! LOL Oh wow...
the comments on political videos like this one are a rabble. 90% of you have no idea what you're talking about, and the ones that do know what they're talking about, are responded to with rudeness and ignorance. The right to be heard, should not equal the right to be taken seriously. It's better to be silent and thought a fool, than to open your mouth and prove it.
There were actually 8 Senators who voted against it. Here's the full list:
Sen. Barbara Boxer (D-CA)
Former Senator Richard Bryan (D-NV)
Sen. Byron Dorgan (D-ND)
Sen. Russ Feingold (D-WI)
Sen. Tom Harkin (D-IA)
Sen. Barbara Mikulski (D-MD)
Sen. Richard Shelby (R-AL)
and the late Sen. Paul Wellstone (D-MN)
Honestly, this act should be reinstated IMMEDIATELY. How could anyone have thought it was a good idea?
Bill Moyers is now taking up this issue, hopefully bringing a national spotlight to it.
Hats off to Young Turks for covering it first.
Thank God for senators like Dorgan, Sanders, Feingold, Boxer, and the late Teddy Kennedy. Not many too many honest voices in the U.S. Senate these days.
I saw the "FRONTLINE" episode about the hearings concerning "deriviatives" in the early 90's (for those of you who dont watch PBS...? nevermind)
scarey and sobering
Lyndon LaRouche is screaming this at the top of his lungs. Do a piece on LaRouche please TYT.
I hope you realize that only half of Glass Steagal was repealed.
We still have the FDIC which is nothing more than a bail out
I just saw a video of a girl with big boobs attempting to play guitar and failing at it. It affects no one, and it had 2+ million views. This video only has 16,732 views right now, and the content of it speaks to issues that will affect hundreds of millions for decades. It makes me sad for humanity. We are doomed.
@Adnihilo There's a difference between simply voting and speaking out and warning. Out of those 44 Democrats, how many had something to say and registered it in the records of Congress? And the truth is, Paul didn't vote against it. He did not want to appear to be against a rare bill for deregulation which he would be in favor of in most cases. He abstained and presented a proposal instead which kept the deregulation, but removed the taxpayer from possible liability for bank default.
I had never noticed that before - just an example of the changes in language that are constantly going on.
It perhaps shows a decline in the understanding of Latin, influence of other languages etc.
I cannot as a teacher of English decry it - I am intrigued by it.
Ron Paul voted against the repeal because of, as he warned, the increased taxpayer liability. He wanted to extract the over-regulation in G-S but keep the parts of the act that protected the taxpayer from the risk of banker speculation and put forward a bill to do just that. He also warned of the potential ramifications which eventually came to pass. But, of course, Cenk is not going to mention that fact since Cenk thinks he is so much smarter than Paul.
Any corporation that is too big to fail is too big to exist.
@Itajiwolf: agreed - Vince is like the Obi-Wan of economics, everything he's said leading up to and since the financial crisis has been dead on.
@Adnihilo Separating commercial and investment banking is not necessary when the banking system is transparent, and when the government doesn't guarantee a banks survival. Banks all over the world engage in both practices and function perfectly fine. There are many who will argue that Glass-Steagal made the Depression worse. Regulations are often part of a corporate strategy and political manipulation. The original G-S was probably a Rockefeller ploy, and the repeal was a Citibank ploy.
"Permit me to issue and control the money of the nation and I care not who makes its laws." - Mayer Amsched Rothchild
"Nobody seems to notice, nobody seems to care...." - George carlin
No other nation on earth has a Glass Steagal like Firewall.
Damn! He was even right on the 10 years later.
@Adnihilo By the way, Ralph Nader likes Ron Paul. So does Dennis Kucinich. That doesn't mean they'd vote for him because of fundamental differences, especially on social policy, but they both recognize that he is a fellow champion against the corruption of Corporatism. I'm not entirelyt happy with Paul's position on social policy, either. It's pure libertarian, but it doesn't matter. A President doesn't have that kind of power to change social policy, but he does have power on monetary policy.
oh snap! he called it the babe ruth of banks called the shot and hit it out of the park!
in ten years time...wow...exactly ten years time.
Imagine if this guy were president. I LOVE him. He's so smart and totally appealing.
LMAO. The government forces banks to make bad loans and then points the finger at them for doing it when the house of cards collapses. How hypocritical can it get?
him saying how bad everything was scared the shit of people. the greatest danger is fear when it comes to to economy. people get scared, they dont spend or invest. he started talking how bad everything was before the banks went bust./
How Come about 20 years ago everybody stopped saying, "10th anniversary" and started saying, "10 year anniversary."
And Cenk goes with, "10th year anniversary."
I like "10th anniversary." The way everybody USED TO say it. Anniversary has 'year' in it already.
@Adnihilo The simple argument against your contention that deregulation caused the crisis, is yes, deregulation caused the crisis. That's what happens when you make a radical change. Unbridled forces exploit the new territory and go wild, and then they collapse, and out of the collapse, the functioning entities survive. Deregulation did not create "too big to fail." Government did. Deregulation should have created "too big AND fail," but government prevented failing. It created an unreal world.
@Adnihilo In other words, the economy is a total mess and you're not going to solve the problem by cleaning up the mess. If there's a solution, it's in revamping the system, from the ground up. That's why you start with monetary policy, and not only monetary policy, but money itself. You start with constructing a definition of money.
Trickle down never EVER worked!
Preach on! They have to bring it back. A megabank like JPMorgan doesn't need to invest in the economy, they can just put their money at work in bonds, or deriviates or trading. They can do it all! You need to split commercial and investment, that way you take the gambling out of everyday lending.
@Adnihilo The consumer should be aware of the risks that are being taken by the bank he is placing his deposits in. If he accepts the higher risks for better return, then he should suffer the consequences if the bank fails. If he desires security, then he should stay with a strictly commercial bank. If the banks get too big, and risk too much and fail, then they should be allowed to fail--that is Capitalism. We don't have Capitalism. We have Corporatism. The banks own the politics in the USA.
They didn't exactly sit on their asses, though. They lept to their feet to defend the interests of their paymasters. Personal short-term gain is worth decimating a whole country over for these jerks, and they have the power and money to buy as many congressmen as they want. Clean money is the best answer for that.
@Adnihilo I guess you didn't get my, what started the fire analogy.
probably the closest thing I've ever seen to a successful prophecy.
@tryptala I you mention Dorgan for being vocal against this bill, then you should mention Paul for being vocal with the same argument. Besides, Paul and Dorgan, who else was vocal against this bill and warned of its potential to screw the taxpayer?
another 8 years later, what have we learned?
lol yeah, the president who took the least days off in holiday followed by the president who talk the most days off and left the country in a mess
@Adnihilo Roll Call 276? What the hell are you talking about? A 2007 bill for emergency supplemental appropriations? Yeah, he voted against that. What planet are you beaming from?
If there's been anyone who's been vocal against "too big to fail," it's been Ron Paul. Too big to fail means the government bails them out at your expense. There is nothing more repugnant than "too big to fail," and Paul would say so himself.
and obama was one of the people who said banks need to give more money.
Monopolization is the highest form of regulation a government can impose. In a way, few sectors are as tightly controlled by the State as banking. Try to start a bank with your own currency, I dare you. See how long it takes before the government either demands you make it all redeemable in dollars so they can take a part and control your credit. See how 'deregulated' banking is for yourself.
I wonder how long it'll be until Shinra, Inc. is founded.
Not long enough. I want some freakin' materia.
An ten years later greenspan came out to say he was wrong.
Wasn't the Titanic 'too big to fail'? We all know what happened there...
I think Evane was being sarcastic...
Of course then his point would be the opposite of what he said but that is also not accurate.
@therealcharismatron Its only too big according to the laws against monopolies. Check out the worker owned companies, they have something special to offer, search for Mondragon hear on TH-cam and check out another model of capitalism.
@Adnihilo Then I went and skimmed through the comments section. It was too mentally agonizing to suffer it too closely. It reminds me of watching theists and atheists battling it out. The think they've hinged on the primary question, but in reality they're both in this little room created by the culture they've been raised in. Is there a God? Yes, of course. I can see Him right there in their arguments. They're batting Him back and forth in their every prescribed argument. The keep Him existing.
Watching this now makes Byron Dorgan seem like a Bad-ass.
Anti Trust Alert, Let's nail them!
Cut them up into separate banks, and make them chose (Again) Investment or commercial bank.
And de-repeal the law (Or make a new one, and don't FUBAR it.)
sandwiches are where it's at.
@CanterburyCat damn latin students
:P
Damn skippy.
@hint0122
You think that if he had pretended that there was no problems the US would be in a better situation? Don't you think people would have realized the economy was in the shitter when banks started to go bust?
yeah, and obama didnt help by saying how bad everything was
obey in the sense that he does what the people elected him to do
I'm felling rather anarchical right now.
LET'S TORCH THE FED!
Never learn from our mistakes...here comes president Trump with deregulation of the banks being a top priority.
bull's eye
@Adnihilo The present economy is a cultural construction full of lots of little funny structures and then arguing within it becomes this billiard ball game where the balls are bouncing off these structures and ricocheting and hitting the opponents balls and it's all this game on this tabled defined by the placement of these little structures. A better battle is to stay on your home turf and shell each other with the heavy artillery disrespective of the little cultural structures.
Wrong, wrong, and wrong.
Why?
You're not first.
I hear ignorance is bliss. Is it? :)
lla deverias ir aprendiendo espanol. lo vas a nesecitar porque de alguna manera el 50% de tu vida va a estar relacionada con mi mundo el grandioso y extenso mundo latino.,al menos yo se espanol y englis.y tu solo sabes englis asiesque busca a alguien que te tradusca.ok by
......You're kidding me, right?
What regulation!? When did we start regulating anything? WE HAVEN'T HAD REGULATION FOR THE PAST TEN YEARS!
LOL
Oh wow...
the comments on political videos like this one are a rabble. 90% of you have no idea what you're talking about, and the ones that do know what they're talking about, are responded to with rudeness and ignorance. The right to be heard, should not equal the right to be taken seriously. It's better to be silent and thought a fool, than to open your mouth and prove it.
double-talk...yes very Orellian....
Jill1994A is my gf.
You know who predicted the financial crisis before Byron? Marx did. haha
You've been thumbed down, but oddly enough, im not feeling the need to kiss men. Strange.
????
FUUUCCCKKKK!!!!!!
I hate the amazing atheist, nice try though
Nothing is wrong with CAIR, your making a racist generalization.
obama likes sandwiches.
first :)