11 | August | 2015 | Deadly Clear

Delusional. Just as delusional as a Wall Street. “Bernie, can you hear me?”

“There’s not a single, solitary example that it had anything to do with the financial crash,” former President Bill Clinton tells Inc. regarding 1999 repeal of Glass-Steagall.

“In fact, a study done afterward said that the unified banks were actually slightly less likely to fail than either the commercial banks that overloaded on subprime mortgages, or the investment banks, like Bear Stearns, Lehman Brothers, and others”: Clinton
NOTE: Democratic presidential candidate Hillary Clinton won’t propose reinstating Glass-Steagall, adviser Alan Blinder told Reuters last month
NOTE: Clinton’s rivals for the 2016 Democratic nomination, Sen. Bernie Sanders and former Md. Gov. Martin O’Malley, have called to break up the biggest U.S. banks

Source: Bloomberg

Read more on Inc. Click here.

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The Revolving Door Is Spinning Out of Control. Can It Be Slowed?

Representative Elijah Cummings of Maryland and Senator Tammy Baldwin of Wisconsin announce the introduction of the Financial Services Conflict of Interest Act on July 15.

Five years to the day after the Senate passed the Dodd-Frank Act, Senator Tammy Baldwin of Wisconsin and Congressman Elijah Cummings of Maryland gathered for a press conference in the Capitol to announce legislation that would strengthen ethics in the executive branch and work to reduce Wall Street influence in Washington, D.C.

“We can’t afford to have a revolving door working to stack the deck in favor of Wall Street and against hard working Americans who are struggling to get ahead,” Baldwin proclaimed as she introduced the Financial Services Conflict of Interest Act on July 15. “The American people deserve to have trust in the fact that government is working for them and that the system is not being rigged against them.”

Read more – http://prospect.org/article/revolving-door-spinning-out-control-can-it-be-slowed