2016 Postmortem
Related: About this forumHillary Clinton just took this big swipe at Wall Street and Colbert's crowd went nuts
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Mother Jones @MotherJones 11m11 minutes ago
Hillary Clinton just took this big swipe at Wall Street and Colbert's crowd went nuts http://bit.ly/1MsTRHE
Political MoJo
Hillary Clinton Tells Stephen Colbert: I Would Let Big Banks Fail
By Inae Oh
Wed Oct. 28, 2015 9:25 AM EDT
Hillary Clinton appeared on the Late Show on Tuesday night, .......................
But it wasn't all softball questions. After weighing in on topics like the middle class and Bernie Sandersresponses Colbert jokingly hit back as a "cheap trick" to say things people likeClinton was then directly asked how she would handle an economic situation like the 2007 financial crisis and whether she'd let big banks fail.
The Democratic presidential candidate answered emphatically, "Yes, yes, yes, yes."
chillfactor
(7,575 posts)I watched the interview and the crowd was really with her...
Agschmid
(28,749 posts)Nailed it.
NorthCarolina
(11,197 posts)her words well before she ever spoke them on Colbert. Believably factor=0.
Agnosticsherbet
(11,619 posts)NCTraveler
(30,481 posts)Response to riversedge (Original post)
Name removed Message auto-removed
lumberjack_jeff
(33,224 posts)The problem is that they are too big - not that they weren't allowed to fail.
This is all talk, she knows that she could never follow through on that promise.
boston bean
(36,221 posts)This is not just a financial crisis; it's an economic crisis. Therefore, the solutions we pursue cannot simply stabilize the markets. We must also deal with the interconnected economic challenges that set the stage for this crisis -- and reverse the failed policies that allowed a potential crisis to become a real one.
First, we must address the skyrocketing rates of mortgage defaults and foreclosures that have buffeted the economy and ignited the credit crisis. Two million homeowners carry mortgages worth more than their homes. They hold $3 trillion in mortgage debt. Nearly three million adjustable-rate mortgages are scheduled for a rate increase in the next two years. Another wave of foreclosures looms.
I've proposed a new Home Owners' Loan Corporation (HOLC), to launch a national effort to help homeowners refinance their mortgages. The original HOLC, launched in 1933, bought mortgages from failed banks and modified the terms so families could make affordable payments while keeping their homes. The original HOLC returned a profit to the Treasury and saved one million homes. We can save roughly three times that many today. We should also put in place a temporary moratorium on foreclosures and freeze rate hikes in adjustable-rate mortgages. We've got to stem the tide of failing mortgages and give the markets time to recover.
The time for ideological, partisan arguments against these actions is over. For years, the calls to provide borrowers an affordable opportunity to avoid foreclosure as a means of preventing wider turmoil were dismissed as government intrusion into the private marketplace. My proposals over the past two years were derided as too much, too soon. Now we are forced to reckon with too little, too late.
As a result, the home-mortgage crisis slowly eroded the value of debt instruments upon which Wall Street firms were depending. That is how this house of borrowed cards began to fall. If we do not take action to address the crisis facing borrowers, we'll never solve the crisis facing lenders. These problems go hand in hand. And if we are going to take on the mortgage debt of storied Wall Street giants, we ought to extend the same help to struggling, middle-class families.
Second, American taxpayers should have a voice and a stake in the resolution of this market crisis. If the Treasury proposal is enacted in its current form, the American government would assume enough financial risk to become the majority shareholder in the companies rescued by taxpayer dollars.
The American people are bearing the risk and therefore deserve to reap the rewards of a shared equity model. And mortgage securities bought by taxpayers must be valued accurately at prices disclosed in real time, with checks and reporting requirements to prevent abuse.
Third, taxpayers are being asked to bear an unparalleled degree of financial risk. We cannot allow taxpayers to take on this burden so that Wall Street and the Bush administration can hit the "reset button." This historic intervention demands a historic shift in priorities: an end to the broken culture on Wall Street, and the broken economic policies in Washington.
Corporations that will benefit must be held accountable, not only to large shareholders but also to the American people, who are rightly tired of business as usual: short-term profit at the expense of long-term viability; lax oversight and regulation; obscene bonuses and golden parachutes regardless of performance; reckless risk-taking that has placed the markets in jeopardy; rewards for foreclosing on middle-class families and selling mortgages designed to fail; and outsourcing good jobs to serve short-term stock prices instead of America's long-term economic health.
This is a sink-or-swim moment for America. We cannot simply catch our breath. We've got to swim for the shores. We must address the conditions that set the stage for the turmoil unfolding on Wall Street, or we will find ourselves lurching from crisis to crisis. Just as Wall Street must once again look further than the quarterly report, our nation must as well.
http://www.wsj.com/articles/SB122230767702474045
No, she wasn't copying Bernie Sanders. LOL
mmonk
(52,589 posts)corkhead
(6,119 posts)bowens43
(16,064 posts)this woman is unbelievable , is there any issue she won't flip flop on???? Pathetic
lunamagica
(9,967 posts)pinebox
(5,761 posts)Autumn
(45,070 posts)financial institutions for the speeches she has given to them that she is is even halfway serious??? I got a couple of bridges I'm willing to sell real cheap.
Iliyah
(25,111 posts)Go Hillary!
Scuba
(53,475 posts)askew
(1,464 posts)He let her sit up there and lie her ass off.
One of the downsides of so few debates is that there isn't anyone to call Hillary on her bullshit. But, the GOP has reels of her flip-flopping on every issue under the sun and will use them to drive her trustworthy #s even lower.
Fawke Em
(11,366 posts)99Forever
(14,524 posts)She'd let banks fail.
Bwahahahahahahahaha.
That's some funny stuff right there. I don't care who you are.
left lowrider
(97 posts)Taking both sides of every issue is just being Hillary.
colsohlibgal
(5,275 posts)Obama said he would go after a Wall Street too.
She is taking in too many millions from Wall Street to betray them. Anyone who thinks she will is naive.