Trump Weighs Breaking Up Wall Street Banks, Raising U.S. Gas Tax

Breaking up the monopolies of the day would really spur the growth of tomorrow. It would be a rinse and repeat of Standard Oil, Bell, Etc. This is what spurs new innovation. When IBM took it in the shorts from Uncle Sam, this is what spawned the likes of Apple and Microsoft essentially. Who knows if he would actually follow through, but talking about it is a good start and far more than I have seen from anyone else so far.

a reply to: enlightenedservant

It’s the Depression-era bank regulation that kept different types of financial institutions separate; then-President Bill Clinton signed legislation reversing it in 1999.

But Hillary Clinton won't pledge to reinstate Glass-Steagall if she becomes president.And Bill Clinton says criticism over the law’s repeal is unfounded.

www.politifact.com...

Herp Derp.

a reply to: NthOther

Actually you're wrong. It was veto proof. The reconciled version of the law passed in the Senate 90-8 and in the House 362-57.

originally posted by: enlightenedservant
a reply to: Edumakated

Quit deflecting. We're talking about the Glass Steagall Act and how some of Trump's officials are floating around the possibility of reinstating some parts of it (which is in the OP). I didn't post anything in this thread giving Clinton credit for that economy so you're arguing about something I didn't even mention.

You are the one who brought up Clinton and Republicans. Don't try to back track now. The OP is about the legislation, not who created it or didn't veto it. The old legislation worked well and in hindsight should have remained.

a reply to: seasonal

I thought that the market crash of 2008 was supposed to brake the big banks, oh, I remember Wall street took over with their own mega banks from investors to bankers.

2008 just took care of the "small competition to clear the way"

a reply to: Edumakated

No I'm not. Look at the post I responded to. Neo said a Clinton would just repeal it & so I responded to that.

ETA: And if you notice, my first post in this thread mentioned that Trump can't actually do this stuff; only Congress can. My response to Neo reinforced that line of thought by pointing out that Congress always gets a pass for the crap they actually write and pass. My point this entire time is that Congress, aka the Legislative Branch, aka our literal federal lawmakers, are the ones who need to be brought on board and held responsible for the laws passed in this country. That includes the proposals that Trump and his team are reportedly considering in the OP. It's pathetic that I even have to explain this.

a reply to: marg6043

The banks didn't cause the crash.



Idiotic lawmakers did going nothing to see here.

Since Fanny and Freddy back 95% of all US mortgages/GSE.

The bailout was bailing out the state itself.

In all reality.

The crash was a market correction for over inflated equities.

Sure lets pay more for gas.

Along with the increasing prices of everything else.

Meh, who needs a middle class anyways.

a reply to: enlightenedservant

We will never know if Congress would've expended the political capital necessary for an override.

We do, however, know that Clinton was definitely not willing to do so in triggering a showdown.

Your boy has no spine.

a reply to: neo96

No, they didn't not but the loans and commercial paper did.

Small banking institutions went out of business or bought by the new emerging investing firms now turn big banks thanks to the bailout.

a reply to: marg6043

RE: Global Warming. It is the hoax. It is bad science. It is a high jacking of public policy. It is no joke. It is the greatest scam in history.

You do realize when you burn fossil fuel it releases CO2 into the atmosphere. The amount of CO2 has consequences that have been well documented. How is it a scam?

a reply to: dfnj2015

In keeping with The Topic.

Trump needs to create the alternative energy tax to replace the gas tax the state currently gets off EVERY single gallon sold in this country EVERY single day.

Want to solve the worlds energy crisis and solve world hunger at the same time ?

Harness the HOT AIR that comes from the church of climatology and TAX it.

World hunger and the worlds debt would instantly be whiped out.

a reply to: dfnj2015

Making people pay for it is the biggest scam in history and should never happen, Clima change is going to happen no matter who vermin roam the earth, global warming is the tool created by globalist to make money out of people.

And this thread is not about my signature.

oops. double post.

My buddy owns a small construction company. Was playing golf 4years ago and got partnered with Trump and one of his friends. He treated Trump like an average guy, even busting his nuts about his game. Trump liked that the guy wasn't intimidated by him, to this day they still golf together. Trump often asks his opinion on many small business issues, he does seem to care about others opinions. a reply to: TinySickTears

a reply to: TomLawless

Thanks lol.