Gramm-Leach-Bliley Act

[Drek]

Did some digging on this, since very often people attach this to Clinton and the dems as much as the republicans.

Turns out the vote on GLBA was passed 46-40 with one present and one no vote.

44 of the ayes were republicans. 39 of the nays were democrats. An independent was on each side and one democrat crossed the party line.

John McCain voted for it.

The only way Bill Clinton and the dems could have stopped this was a veto, and we clearly see that Clinton didn't understand the power of veto like GWB does.

So are the dems really to blame, or is this yet another republican dominated and created mess in their rush to service themselves, their lobbyists, and the wealthy represented by said lobbyists before Americans?

Check it out:
GBLA

[L.A. BRONCOS FAN]

Originally Posted by Drek

Did some digging on this, since very often people attach this to Clinton and the dems as much as the republicans.

Turns out the vote on GLBA was passed 46-40 with one present and one no vote.

44 of the ayes were republicans. 39 of the nays were democrats. An independent was on each side and one democrat crossed the party line.

John McCain voted for it.

The only way Bill Clinton and the dems could have stopped this was a veto, and we clearly see that Clinton didn't understand the power of veto like GWB does.

So are the dems really to blame, or is this yet another republican dominated and created mess in their rush to service themselves, their lobbyists, and the wealthy represented by said lobbyists before Americans?

Check it out:
GBLA

This makes McCain's latest (co-opted from Obama) "change" song and dance all the more ludicrous.

[ak1971]

Clinton signs the bill...guess who the CEO of Citi is?

[Rohirrim]

Originally Posted by ak1971

Clinton signs the bill...guess who the CEO of Citi is?

All those guys in that picture are thinking the same thought: "Boy, are we gonna make a whole bunch of money!"

[Garcia Bronco]

The Democrats and Republicans passed this puppy, and it's one of the very reasons for the housing mess we are currently in. George Bush had his hand it it as well. Chalk it up to another baby boomer **** up.

[ak1971]

exactly..you can point the fingers at everyone.its the perfect storm so to speak.

[L.A. BRONCOS FAN]

Originally Posted by Garcia Bronco

The Democrats and Republicans passed this puppy....

Originally Posted by Drek

Turns out the vote on GLBA was passed 46-40 with one present and one no vote.

44 of the ayes were republicans. 39 of the nays were democrats. An independent was on each side and one democrat crossed the party line.

.

[Garcia Bronco]

Originally Posted by L.A. BRONCOS FAN

.

What Party is Bill Clinton affilated with? You do realize the picture above is of him signing the law?

[Drek]

Originally Posted by ak1971

exactly..you can point the fingers at everyone.its the perfect storm so to speak.

How?

Only one democratic senator among 40 voted aye.

Not one republican senator opposed it.

Unless Clinton was going to overstep the bounds of the executive office like Bush43 does with regularity he had no choice but to sign it.

Was he negligent? Yes, but the right doesn't think that is reason enough to attach some blame for 9/11 to Bush when he had intelligence reports specifically stating the words "Osama Bin Laden", "Al Qaeda", "Plane Hijacking", and "U.S. Target" in them only months before and ignored them.

The crafting and passing of the bill though was a deliberate act by the republicans in the senate, and has since ****ed our economy up the ass.

[Garcia Bronco]

Oh and Drek's numbers are wrong. It, s. 900, passed 54-44, 1 present and 1 no vote. And McCain did vote for it.

http://www.govtrack.us/congress/vote.xpd?vote=s1999-105

[Garcia Bronco]

Originally Posted by Drek

Unless Clinton was going to overstep the bounds of the executive office like Bush43 does with regularity he had no choice but to sign it.

Bill Clinton didn't have to sign that legislation. He's just as much to blame as the Senate and the House.

[Garcia Bronco]

Here is the vote on HR 10, the house version of the bill, for the 105th Congress in 1998

Party Yes No Not Voting
Democratic 61 139 5
Independent 0 1 0
Republican 153 73 1
Total 214 213 6

[ak1971]

Originally Posted by Drek

How?

Only one democratic senator among 40 voted aye.

Not one republican senator opposed it.

Unless Clinton was going to overstep the bounds of the executive office like Bush43 does with regularity he had no choice but to sign it.

Was he negligent? Yes, but the right doesn't think that is reason enough to attach some blame for 9/11 to Bush when he had intelligence reports specifically stating the words "Osama Bin Laden", "Al Qaeda", "Plane Hijacking", and "U.S. Target" in them only months before and ignored them.

The crafting and passing of the bill though was a deliberate act by the republicans in the senate, and has since ****ed our economy up the ass.

What I was getting at is that the act put the things in motion and the 'perfect storm' of world events, etc. made the mess

[L.A. BRONCOS FAN]

Originally Posted by Drek

How?

Only one democratic senator among 40 voted aye.

Not one republican senator opposed it.

Unless Clinton was going to overstep the bounds of the executive office like Bush43 does with regularity he had no choice but to sign it.

Was he negligent? Yes, but the right doesn't think that is reason enough to attach some blame for 9/11 to Bush when he had intelligence reports specifically stating the words "Osama Bin Laden", "Al Qaeda", "Plane Hijacking", and "U.S. Target" in them only months before and ignored them.

The crafting and passing of the bill though was a deliberate act by the republicans in the senate, and has since ****ed our economy up the ass.

Hammer, nail, head.

Everywhere you look, there's another right-wing double standard.

[Spider]

Originally Posted by Garcia Bronco

Bill Clinton didn't have to sign that legislation. He's just as much to blame as the Senate and the House.

veto proof majority ....... naw ...

[W*GS]

Originally Posted by Drek

Unless Clinton was going to overstep the bounds of the executive office like Bush43 does with regularity he had no choice but to sign it.

Bull****. Ever hear of a "veto"?

[L.A. BRONCOS FAN]

You mean that power your boy Dubya didn't discover until after the Dems regained control of the Congress?

[W*GS]

He ain't my boy.

Deflect all you want, but it was your honey, Clinton, who cheerfully signed the Gramm-Leach-Bliley Act into law, without protest.

[Garcia Bronco]

Originally Posted by Spider

veto proof majority ....... naw ...

There was no veto proof majority in the senate.

[BroncoBuff]

Nutshell on this bill? Deregulated what?

[Garcia Bronco]

Originally Posted by BroncoBuff

Nutshell on this bill? Deregulated what?

The GLB removed the barrier that seperated investment and banking services...and insurance. So because of this bill we now have these full shop financial services company. It also allowed the dishonest companies, the ones with the crappy balance sheets, create schemes to rob peter and pay paul, but the never paid paul. BB&T the company I worked for never got into this illegal crap. the Capitial Markets side and the Bank don't even meet together.

[BroncoBuff]

Originally Posted by Garcia Bronco

The GLB removed the barrier that seperated investment and banking services...and insurance. So because of this bill we now have these full shop financial services company. It also allowed the dishonest companies, the ones with the crappy balance sheets, create schemes to rob peter and pay paul, but the never paid paul. BB&T the company I worked for never got into this illegal crap. the Capitial Markets side and the Bank don't even meet together.

Wow... at first look, that sounds like the bulk of the problem right there.

Is there anything Phillip and his charming wife Wendy can't screw up? His fingerprints are all over 1) the Enron Loophole, 2) the sub-prime mortgage crisis, and 3) the financial house collapses? Too bad this message can't be clearly stated to the electorate.



(But I don't mean to be whining )

[Garcia Bronco]

Originally Posted by BroncoBuff

Wow... at first look, that sounds like the bulk of the problem right there.

Is there anything Phillip and his charming wife Wendy can't screw up? His fingerprints are all over 1) the Enron Loophole, 2) the sub-prime mortgage crisis, and 3) the financial house collapses? Too bad this message can't be clearly stated to the electorate.



(But I don't mean to be whining )

Check your PM's. I sent you a great article that AK sent me. Read and you'll get a great understanding. It's a little slanted, but you can pick out the fine pionts.

[Dudeskey]

Originally Posted by Drek

Did some digging on this, since very often people attach this to Clinton and the dems as much as the republicans.

Turns out the vote on GLBA was passed 46-40 with one present and one no vote.

44 of the ayes were republicans. 39 of the nays were democrats. An independent was on each side and one democrat crossed the party line.

John McCain voted for it.

The only way Bill Clinton and the dems could have stopped this was a veto, and we clearly see that Clinton didn't understand the power of veto like GWB does.

So are the dems really to blame, or is this yet another republican dominated and created mess in their rush to service themselves, their lobbyists, and the wealthy represented by said lobbyists before Americans?

Check it out:
GBLA

This was the same bill that basically repealed the Glass-Steagle act, right?



Edit: nevermind, found it...™

[Drek]

Originally Posted by W*GS

Bull****. Ever hear of a "veto"?

So let me get this straight.

A democratic president who was leaving office in just a little over a year, working with a republican house and senate, should have refused to sign a package and created a **** storm for his minority party and burnt bridges for his VP's POTUS run?

Seriously?

Again, it was negligence on his part. I'm not saying Clinton was some paragon against this. He opted to do nothing. But the democratic party did not write, sponsor, or push this bill through the house and senate. Just because a democratic president didn't step up at the last minute and stop it doesn't mean you can assign blame to the democratic party.

Its about as intelligent as blaming Bush for 9/11, as I previously stated.