| poeTV | Submit | Login   |

Reddit Digg Stumble Facebook

Help keep poeTV running


And please consider not blocking ads here. They help pay for the server. Pennies at a time. Literally.

Comment count is 19
THA SUGAH RAIN - 2013-07-20

This video has been popping everywhere by people who don't know anything about the legislation they are discussing. The repeal of Glass-Steagall had nothing to do with the financial crisis and and its reimplementation would do nothing to prevent another crisis. The financial products and trading behaviors in question fall outside Glass-Steagall or any other current proposed legislation.

Her argument is "well we had it on the books and during that time there were fewer crises". That's called coincidence, not causality.


Hooker - 2013-07-20

Well, I'm not going to pretend to understand high finance, but my understanding is that Glass-Steagall separated investment banks from savings banks, so you couldn't, let's say, take mortgages from a savings bank and invest it as a bond, which is what caused the 2008 collapse.

Furthermore, I think most of us are more inclined to listen to one of the foremost experts on the US financial experts on finance matters than poeTV's foremost expert on which women THA SUGAH RAIN finds attractive.


THA SUGAH RAIN - 2013-07-20

I know you might find this shocking, but the majority of day is not spent giving binary opinions on women. A depressingly substantial amount of my life is spent doing my job in finance. These two subjects are the only things in the world I can really offer qualified opinions on. Everything else is just me winging it.


SolRo - 2013-07-20

are you a teller or one of those unarmed 'security guards' in a suit?


THA SUGAH RAIN - 2013-07-20

They let me roll pennies that get rejected by the coin counter machine.


Hooker - 2013-07-20

I'm sure you do other things. But you must understand that the pendulum does swing the other way. You've defined your presence on poeTV as the guy that is only interested in objectifying women. After trying for so long to not be taken seriously, you want us to listen to you on United States financial policy instead of the first special advisor for the CFPB?


SolRo - 2013-07-20

To be fair, we all objectify women as soon as a 'sexy woman does something' clip shows up.

There might have been a heavy and serious discussion of war, racism or abortion in the video just before it, but then it's all "yeah i'd fuck her!" or "I'd give her my (euphemism for penis)!"


THA SUGAH RAIN - 2013-07-20

I find that one dimensional non controversial persons are tolerated in the poetv ecosystem. The few times I've contributed to political or economic discussions around here it gets drowned out and shouted down. So rather than be the only guy with nice things to say about bankers and market systems, it's safer to sit on the sidelines.


Gommorrah - 2013-07-21

you're a fucking idiot


memedumpster - 2013-07-21

Are we talking about the actual Glass-Steagall Act or the 1933 Banking Act? Also, I thought the big deal of the repeal was that banks started fucking around in insurance, utilities, and other weird things for banks to do. I'm actually more interested in hearing about the details of this rather than whether or not The Sugah Rain is a shallow or profound person.


Bort - 2013-07-21

Seconding memedumpster. I've heard that Glass-Steagall would haved prevented the recent meltdown, but I've heard it from people whose understanding of most issues can fit into 140 characters, so their opinions are suspect.

Here's an article that may shed some light:

http://dealbook.nytimes.com/2012/05/21/reinstating-an-old-rule -is-not-a-cure-for-crisis/

The author doesn't seem to be opposed to government regulation, he just doesn't think Glass-Steagall would have prevented this particular crisis. From the article:

---

But here’s the key: Glass-Steagall wouldn’t have prevented the last financial crisis. And it probably wouldn’t have prevented JPMorgan’s billion-plus trading loss. The loss occurred on the commercial side of the bank, not at the investment bank. But parts of the bet were made with synthetic credit derivatives — something that George Bailey in “It’s a Wonderful Life” would never have touched.

When I called Ms. Warren and pressed her about whether she thought the financial crisis or JPMorgan’s losses could have been avoided if Glass-Steagall were in place, she conceded: “The answer is probably ‘No’ to both.”


Gommorrah - 2013-07-21

when you get shouted down or drowned out that is a feature, not a bug.


Gommorrah - 2013-07-21

meant to reply to fucking idiot extraordinaire "tha sugah rain"


THA SUGAH RAIN - 2013-07-21

Thanks for making my point!


Toenails - 2013-07-21

Holy shit, it's two one dimensional poetv personalities enter, one one dimensional poetv personalities leave!

But seriously, shut the fuck up y'all. SUGAH hasn't said whether or not Warren is a would.


Toenails - 2013-07-21

Also, Gomm hasn't said whether or not this makes America bad.

OH GEEZ I'M ON THE EDGE OF MY SEAT HERE!


Gommorrah - 2013-07-21

let me help: america is bad


gmol - 2013-07-21

I've seen this video as well. I like Liz, she is a smart person, but she's trying to trick you here this is nothing more than political grandstanding.

Is it obivous that comparing the number of crises (in the last 100 years or so) when there was no Glass Steghal vs. when there was is statisitcally significant measure of the effect of the policy? The answer is no, it isn't.


Xenocide - 2013-07-21

Warren's argument is a little specious, but she still made her opponents look like impotent fools, and anyone who does that to an MSNBC anchor deserves my stars.

Seriously, their entire argument was "this probably won't pass, so you should give up without even trying." Fuck these people.


Register or login To Post a Comment







Video content copyright the respective clip/station owners please see hosting site for more information.
Privacy Statement