It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Liberalism appears in two broad forms: Classical liberalism, which emphasizes the importance of individual liberty, and social liberalism which emphasizes some kind of redistribution of wealth.[7] Those who identify themselves as classical liberals, to distinguish themselves from social liberals, oppose all government regulation of business and the economy, with the exception of laws against force and fraud, and support free market laissez-faire capitalism.
In Europe, the term "liberalism" is closer to the economic outlook of American economic conservatives.[8] In the United States, "liberalism" is most often used in the sense of social liberalism, which supports some regulation of business and other economic interventionism which they believe to be in the public interest.
Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999, is an Act of the United States Congress which repealed part of the Glass-Steagall Act of 1933, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
The Gramm-Leach-Bliley Act (GLBA) allowed commercial and investment banks to consolidate. For example, Citibank merged with Travelers Group, an insurance company, and in 1998 formed the conglomerate Citigroup, a corporation combining banking and insurance underwriting services under brands including Smith-Barney, Shearson, Primerica and Travelers Insurance Corporation. This combination, announced in 1993 and finalized in 1994, would have violated the Glass-Steagall Act and the Bank Holding Company Act by combining insurance and securities companies, if not for a temporary waiver process [1]. The law was passed to legalize these mergers on a permanent basis. Historically, the combined industry has been known as the financial services industry.
The bills were introduced in the U.S. Senate by Phil Gramm (R-Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001. On May 6, 1999, the Senate passed the bills by a 54-44 vote along party lines (53 Republicans and one Democrat in favor; 44 Democrats opposed).
Originally posted by jasonjnelson
reply to post by mental modulator
Do you have a point? A policy defense maybe? Or are you merely going to make unfounded accusations that I somehow supported Bush and his economic policies?
Originally posted by jasonjnelson
reply to post by mental modulator
See? Before I could even get a reply up, you went and quoted the usual ilk that defenders of Liberal Ideology believe to be an argument.
When did the housing crisis or republicans, or even democrats come into this?
Stay on topic...
Or can't you defend what he said?
Originally posted by mkultraangel
Honestly I do not find your post to be one bit intelligent, as you are injecting too much emotion into it and absolutely zero rational thought. You "hate" Liberals and those who agree with you are posting similar emotional and irrational agreements by saying that Liberals are for abortion, so therefore obviously are all for baby killing...same old song and dance to demonize someone you do not agree with.
WASHINGTON — Unqualified home buyers were not the only ones who benefitted from Massachusetts Rep. Barney Frank’s efforts to deregulate Fannie Mae throughout the 1990s. So did Frank’s partner, a Fannie Mae executive at the forefront of the agency’s push to relax lending restrictions. Now that Fannie Mae is at the epicenter of a financial meltdown that threatens the U.S. economy, some are raising new questions about Frank's relationship with Herb Moses, who was Fannie’s assistant director for product initiatives. Moses worked at the government-sponsored enterprise from 1991 to 1998, while Frank was on the House Banking Committee, which had jurisdiction over Fannie. Both Frank and Moses assured the Wall Street Journal in 1992 that they took pains to avoid any conflicts of interest. Critics, however, remain skeptical. "It’s absolutely a conflict," said Dan Gainor, vice president of the Business & Media Institute. "He was voting on Fannie Mae at a time when he was involved with a Fannie Mae executive. How is that not germane? "If this had been his ex-wife and he was Republican, I would bet every penny I have - or at least what’s not in the stock market - that this would be considered germane," added Gainor, a T. Boone Pickens Fellow. "But everybody wants to avoid it because he’s gay. It’s the quintessential double standard."
Originally posted by jasonjnelson
reply to post by mental modulator
I get you, man. And this is a conversation I would love to get into. but one, you are talking about republicans, a party I never mentioned, and two, about the economy, which I never mentioned in that context.
The argument is about the article, and from your previous posts in other threads, I expected a more on target argument from you.