Tarp was passed in 2008. Dodd Frank in 2010. What does Dodd Frank have to do with the start of the recession?
Where's obama at?
- Thread starter Constitutional Sheepdog
- Start date
Constitutional Sheepdog
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Your source
"2008-2009 Recession"
Dodd Frank was a bailout you can be delusional and thinking lying is clever but it just makes you a liar.
Constitutional Sheepdog
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Dodd frank BAILOUT
You're in the weeds again. Dodd Frank was passed in 2010. Tarp was passed in 2007. What does Dodd Frank have to do with you attempting to blame the Bush recession on democrats?
I linked the NBER site that shows the recession officially began in December 2007.
Constitutional Sheepdog
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If you recall I said Dodd-Frank was a bailout you confusingly said it wasn't But I did connect it with Tarp So I'm wrong about the dates just as you are wrong about the date of the recession and wrong about Dodd-Frank.
Have a nice day.
Dodd Frank limits bailouts. Nothing in the bill provided money for a bailout.
NBER says the recession started December 2007.
Again...what legislation did the democrats pass from January to mid 2007 that caused the Bush recession?
Dodd-Frank was not a bailout. Your ignorance is curable. Invest a few minutes in learning about the bill.
https://www.reference.com/business-finance/dodd-frank-act-927516cc0040ce08?qo=cdpArticles
Constitutional Sheepdog
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Wrong junior
Constitutional Sheepdog
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Wrong junior
Constitutional Sheepdog
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This is the topic of this thread
People should fear any criminal. Obama is, by definition, a criminal and, therefore capable of harming society. Hopefully he will end up in prison.
Boca
Governor
I like the way you limit the time frame as if recessions begin on Monday after Congress acts on Friday. Usually it takes years....and you know that. As you may also know the normal business cycle, expansion to recession. is about 7 years. That one took 8.
Root cause....the Gramm–Leach–Bliley Act, otherwise know as the Bill Clinton Everyone Should Own a Home Whether They Can Afford It or Not Act of 1999.
It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company.
A year before the law was passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, and Travelers. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waiver in September 1998.[3] Less than a year later, GLBA was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall's conflict of interest prohibitions "against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank"
You may also recall CitiGroup was Robert Rubin's baby. Robert Rubin was Bill Clinton's Secretary of the Treasury (1995–1999)
Bill Clinton did more damage (unwittingly) to America's fiscal health than Obama could of dreamed of and he had some big dreams.
For those interested in the nitty gritty I refer you to the New York Times, October 1999
Agreement Reached on Overhaul of U.S. Financial System
WASHINGTON -- The Clinton Administration and top Republican lawmakers reached an agreement early Friday to overhaul the financial system, repealing Depression-era laws that have restricted the banking, securities and insurance industries from expanding into one another's businesses.
The deal was announced about 2 A.M. after a compromise was reached over the measure's effect on lending rules for the disadvantaged,
A year before the law was passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, and Travelers. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waiver in September 1998.[3] Less than a year later, GLBA was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall's conflict of interest prohibitions "against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank"
You may also recall CitiGroup was Robert Rubin's baby. Robert Rubin was Bill Clinton's Secretary of the Treasury (1995–1999)
Bill Clinton did more damage (unwittingly) to America's fiscal health than Obama could of dreamed of and he had some big dreams.
For those interested in the nitty gritty I refer you to the New York Times, October 1999
Agreement Reached on Overhaul of U.S. Financial System
WASHINGTON -- The Clinton Administration and top Republican lawmakers reached an agreement early Friday to overhaul the financial system, repealing Depression-era laws that have restricted the banking, securities and insurance industries from expanding into one another's businesses.
The deal was announced about 2 A.M. after a compromise was reached over the measure's effect on lending rules for the disadvantaged,
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If you were paying attention you'd have noticed that I was responding to a post implying that the democrats were in control of congress starting in 2007 and the recession started on their watch...which I took to mean that they must have done something in the early part of 2007 to cause it. Of course that didn't happen. Any bill passed by congress typically takes more than a year to actually take effect.
I'm not aware of Gramm-Leach-Bliley (all republicans btw)....having anything in it about lending to minorities. Are you referring to the restriction on mergers for banks with a less than satisfactory rating on their CRA exam?
Perhaps you could quote the part of that republican legislation that pushed homes for everybody. I think the republican bill "American Dream Mortgage Downpayment Assistance act" of 2002 was worse. It provided for lowering downpayments to 3% and also offered a loan for that 3%...which was not considered in calculating max mortgage payments...effectively giving federal guarantees to no-down loans. Also in 2003 the idea of relaxing liquidity requirements let banks go much further out on a limb....which they did.
I also think that Gramm-Leach-Bliley was part of the problem, but not the whole problem. Gramm was responsible for another bill in 2000 that put the derivatives market in the dark...federal oversight was prohibited.
By your definition. By mine it is required that proof of a crime be presented to a grand jury, an indictment issues, a trial takes place and a jury decides. You seem to think that if you don't like someone enough....that would be enough for a conviction.
The bill is available...Please quote the part where it provides money for a bailout....
https://www.reference.com/government-politics/full-explanation-dodd-frank-wall-street-reform-consumer-protection-act-387d8e7daf0f5386?qo=cdpArticles
No Credit, Bad Credit, Bankruptcy, COME ON DOWN
http://reason.com/archives/2012/10/14/clintons-legacy-the-financial-and-housin
Sounds like "Obama" is up your ass
All you post of is anal sex............geeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeuz
Tell me more about goats?
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