Reply to Barney Frank is being quite candid

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Barney Frank has done more to reform banking than Bernie has or ever well.  Bernie has  a completely simplistic understanding of the industry that misses entirely the real issues.

-- a government banking attorney[/quote]

Pp adding that Gary Gensler, Hillary's banking guy, was an activist regulator at the CfTC post crisis and a super smart guy.[/quote]

Gensler is 18 year veteran at Goldman Sachs, key player in getti ng otc derivatives exempted from regulation via Commodity Futuresodernization Act.  Those are the derivatives that blew up everything.  [/quote]

Have you even taken a second to review his regulatory career?  Clearly not.  It's like dealing with cavemen, "bankers bad" end of thought process.[/quote][/quote]

He did what Dodd-Frank required.  Much of which has already been reversed.  He is no Joe Kennedy.  He's Hillary's Chief Financial Officer.  I read Bernie opposed his appointment to the CFTC where he would oversee the rule writing Dodd-Frank mandated to rectify the damage done by Gensler's success at ensuring the derivatives be exempted.  He had banking "genius" Greenspan singing that same tune. Only Brooksly Born fought to regulate the derivatives.  But you hadn't finished law school then...

[/quote]

I graduated from kaw school in 1994; thank you.  Gensler was one of the most outspoken and activist regulators post 2008 along with Sheila . If Bernie opposed him, just another example of ideological purity getting in the way of good policy.[/quote]

Were derivatives good policy?  Was 14 trillion dollars worth of personal wealth evaporating on Wall Street because of the collapse good policy?  I certainly don't think so.  Gensler was part of what enabled that.[/quote]

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