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    The Noble RenardHamilton Nolan
    7/28/16 1:48pm

    On a more practical level, a Republican president would eviscerate the Consumer Financial Protection Bureau, while a Democratic president will reinforce it and show that it’s an institution that can last longer than simply Obama.

    At the very least, electing a Republican = fewer regulations, electing a Democrat = the current level of regulations.

    /envision Donald Trump appointing Peter Thiel as head of CFPB.

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      pre-emptive sighThe Noble Renard
      7/28/16 1:51pm

      Right, because we all know DWS hates those predatory lenders. If there’s anything the DNC stands for it’s taking money from payday loan companies....errr I mean protecting people from payday loan companies

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      ARP2pre-emptive sigh
      7/28/16 1:58pm

      There have been some small measures passed against payday lenders, but not nearly enough (as you point out) due to corporate influence. I think that’s better than doing nothing. So, I don’t understanding why you’re mocking insufficient efforts that you don’t agree with anyway. I hate to break it to you, but I think you’re a troll.

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    IhpsdmHamilton Nolan
    7/28/16 1:55pm

    I agree that Glass-Steagall should have never been repealed, but both parties have blood on their hands when it comes to deregulation. It all started with Reagan and snowballed in to W.’s second term.

    Glass-Steagall was put in place in 1932 and we didn’t see an economic collapse until 9 years after it was repealed. It really needs to be reinstated, which is why I was originally behind Bernie Sanders.

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      candymancoug1Ihpsdm
      7/28/16 2:01pm

      “Glass-Steagall was put in place in 1932 and we didn’t see an economic collapse until 9 years after it was repealed.”

      Not arguing the issue of the effectiveness of Glass-Steagall and all, but we had several recessions between 1932 and 2008, especially during the 50's and early 60's... so I wouldn’t say “economic collapse”.

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      det-devil-ailsIhpsdm
      7/28/16 2:02pm

      Some familiar smiling faces. Don’t they all look proud of themselves?

      GIF
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    Sparky PolastryHamilton Nolan
    7/28/16 1:56pm

    Not to defend corruption, but if politicians didn’t seek donations from big banks they wouldn’t even be able to run. This current system is utter bullshit.

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      SplatworthySparky Polastry
      7/28/16 2:00pm

      I heard there was a guy running without money from banks, but the name escapes me at the moment.

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      DirktaniusSparky Polastry
      7/28/16 2:01pm

      One candidate was for public funding of elections. That candidate didn’t win.

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    Rom RombertsHamilton Nolan
    7/28/16 1:52pm

    I want a president who will get up on a stage and scream the word BANKS into a cluster of microphones in a crowded arena for four or five days straight, only ever stopping to swallow a submarine sandwich whole twice per day.

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      Sparky PolastryRom Romberts
      7/28/16 1:54pm

      I’m not entirely sure what you’re getting at here but for some reason I absolutely love it

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      LooseSasquatchSparky Polastry
      7/28/16 1:54pm

      Bernie Sanders seems to come to mind from OPs description. . .

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    ReburnsABurningReturnsHamilton Nolan
    7/28/16 2:04pm

    Logically progressing Dodd-Frank would be a lot less complex and much more effective at actually protecting taxpayers from risk than restoring what had essentially become a Maginot Line by the time it was repealed.

    The Glass-Steagall “Wall” wouldn’t have prevented or even meaningfully slowed the fundamental activities that caused the 2008 crisis in the slightest. Anyone who tells you anything to the contrary is so poorly equipped to discuss our financial regulatory environment that you would be well served to ignore pretty much everything they have to say.

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      skyReburnsABurningReturns
      7/28/16 2:43pm

      Yes, if you just regulate “banks” you get more shadow banking and even greater systemic risk. Lehman Brothers wasn’t a bank.

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      ReburnsABurningReturnssky
      7/28/16 2:54pm

      Shadow bank away, I say, just don’t do it with taxpayer guaranteed deposits. That’s why strengthening things like the Volcker Rule, and primary federal regulators like the Fed and the OCC, is so vital.

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    gramercypoliceHamilton Nolan
    7/28/16 1:56pm

    But who will regulate lapel pins?

    http://www.militarytimes.com/story/military…

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      Dirktaniusgramercypolice
      7/28/16 2:00pm

      First we elect a Kenyan, now a Honduran. When will it end?

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      TheGreenBuildinggramercypolice
      7/28/16 2:54pm

      Holy shit, this is solid gold!

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    ARP2Hamilton Nolan
    7/28/16 1:54pm

    The GOP platform calls to reinstate G-S but then rails against many of the regulations G-S intended to address. If they simply want to separate investment and personal banking, that isn’t nearly enough to address the systemic risk-taking and short-termism. It’s almost the least they could do, other than nothing.

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      XrdsAlumARP2
      7/28/16 2:40pm

      Exactly. If putting up a new version of the G-S wall is just symbolic and makes no difference, then just do it. And yet they don’t. I wonder why...

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    NavHamilton Nolan
    7/28/16 1:55pm

    Of course, lack of separation of investment and retail operations was, like, the 950,235th biggest contributing factor to the Great Recession; making a shibboleth of Glass-Steagall is, consequently, pretty damn symbolic and not much else.

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      ReburnsABurningReturnsNav
      7/28/16 2:16pm

      Before GLBA, retail banks using taxpayer guaranteed deposits could not originate and securitize mortgage loans and they couldn’t hold mortgage backed securities rated AAA by the ratings agencies!

      Before GLBA there were rational & meaningful minimum underwriting standards mandated by law on residential consumer mortgage loans!

      Oh, wait. I forgot. That’s all FUCKING WRONG.

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    det-devil-ailsHamilton Nolan
    7/28/16 1:59pm

    I’m sure a lot of people are hard at work behind the scenes right now preparing for this to happen...[sniff]... [snort]... [snicker]...

    Just kiddin’!

    MONEY FIGHT!!!!!

    GIF
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      CakeisbetterthanPieHamilton Nolan
      7/28/16 2:09pm

      Both Political Parties Say They Want to Regulate the Banks. Will We Regulate the Banks?

      “I laughed so hard, I sucked up the coke AND the hundred I was snorting it with!”

      - Jamie Dimon

      “They must not have received that last check I sent them.”

      - Lloyd Blankfein

      “HAHAHAHAHAAAAHHAAHAHAHAHAHHAAAA”

      - Literally everyone at Goldman Sachs

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