Why are we not demanding the repeal of

[Skidmore]

1) NAFTA
2) Glass-Steagal

as a place to begin reform in the banking sector and a place to begin with job creation?

[doc03]

1. Cause Congress is bought and paid for by

corporate fat cats.

[OneTenthofOnePercent]

2. Because that would violate Obama's campaign promise.

We Hope that he Changes shit...

If he actually changed anything, then we'd have nothing to hope for.
Thus far, Obama is delivering on his Hope/Change campaign... I know I'm still hoping shit changes.

[Freddie Stubbs]

3. Because not all of us want NAFTA repealed

Anyone remember Smoot–Hawley?

[Motown_Johnny]

4. why in the world would you not want NAFTA repealed?

as well as every other similar trade agreement



Do you honestly believe Shrub's BS about service based industries being the future of America?

[jgraz]

7. Except the Smoot-Hawley tariffs were largely rolled back in 1944

Google "Bretton Woods Agreement".

SH has always been the favorite scare tactic for pro-corporate free-traders. It turns out that we had almost 50 years of economic and wage growth with Smoot-Hawley in place. Since NAFTA, wages have remained largely flat.

[zipplewrath]

8. Don't be so quick

You might want to look into that assertion again. It isn't all that clear that it hurt. Whether it helped is even harder to tell. And NAFTA changes wouldn't necessarily be a repeat of SH anyway. Mostly it is a case of ensuring that IF foreign countries want to compete with the american worker, they have to have american style protections FOR those workers, including workman's comp, SS, OSHA, etc. Many foreign countries do (especially since they have better social safety nets and health care access than we do). It's just to prevent some "race to the bottom" kind of feature you need SOME minimum standards. And that include environmental protections as well.

[WeDidIt]

5. Glass Steagall was repealed in 1999

That's the problem.

[Jeff In Milwaukee]

6. That's correct...but...

I think legislation has been introduced in the House to bring it back. Sometime in the past two months or so.

[progressoid]

9. Glass-Steagal was repealed - - Gramm–Leach–Bliley Act is the one we and repealed.

[ParkieDem]

10. Re: Glass-Steagall,

probably because its repeal had nothing to do with the financial crisis and nothing to do with the current recession.

[Vincardog]

11. Glass-Steagall repeal had nothing to do with the financial crisis? What world do YOU live on?

[ParkieDem]

12. Simple.

I live in the world where the financial crisis was caused by (a) interest rates that were kept artificially low for way too long, and (b)the adoption of mark-to-market accounting for valuation of bank assets. Glass-Steagall and its repeal had nothing to do with the financial crisis -- it didn't cause it, make it better, or make it worse.

[Vincardog]

13. And allowing our BANKS to engage in unregulated SPECULATION putting our money at risk while buying

derivatives betting on our financial failure had no bearing?

I get it you are joking.

You forgot the :sarcasm: :sarcasm: :sarcasm: :sarcasm: