Quote:
Originally Posted by Danzig
her comments at the debate, invoking 9-11 as defense for taking wall street money, was beyond the pale.
her husband signed the repeal of glass/steagall, and they love giving her funds..
a huge weak point for her.
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Speaking as someone living in NYC during that time, there was a lot of fear in the aftermath that the big financial firms were all going to pick up and move someplace far away from NYC. I get what Clinton was trying to say, which was that it was her job as a Senator representing NY State to do what was best for the state, which was keeping those firms based in the city. Of course, in the wake of the 2008 financial crisis, getting campaign donations from Wall Street is incredibly bad PR, but in 2001 the city was really afraid that it's place as the financial capital of the world was over.
I'm not the biggest fan of PolitiFact, but this is a pretty good brief look at Glass-Steagall and the claim that its repeal was the cause of the recession. (It wasn't: the state of affairs that led to the collapse had been building since the 1970s):
http://www.politifact.com/truth-o-me...ng-do-financi/
Ultimately, the President has really no control over the economy. Now, things like lying the nation into a trillion dollar war in the Middle East, that he does.
12-10-2015, 10:46 AM
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