Hillary Clinton won't propose reinstating a bank break-up law known as the Glass-Steagall Act at least according to Alan Blinder, an economist who has been advising Clinton's campaign. "You're not going to see Glass-Steagall," Blinder said after her economic speech Monday in which she failed to mention it. Blinder said he had spoken to Clinton directly about Glass-Steagall.
This is a big mistake.
It's a mistake politically because people who believe Hillary Clinton is still too close to Wall Street will not be reassured by her position on Glass-Steagall. Many will recall that her husband led the way to repealing Glass Steagall in 1999 at the request of the big Wall Street banks.
It's a big mistake economically because the repeal of Glass-Steagall led directly to the 2008 Wall Street crash, and without it we're in danger of another one. read more
In an article for The American Conservative, veteran political commentator Pat Buchanan slammed the neocons' "berserk reaction" to Russia's military intervention in Syria, adding that John McCain and Hillary Clinton's plans to arm the rebels with Stingers and establish a no-fly zone would result in a crisis which would rapidly spin of control. WallGiving his take on Russia's decision to begin airstrikes against ISIL and other terrorist forces looking to overthrow the Syrian government, Buchanan explained that Moscow had many sensible reasons to get involved, including its longstanding alliance with Damascus, a desire to preserve its toehold on the Mediterranean, and not least, to keep the Russian terrorists caught up in the war from coming home to roost in Russia itself. read more
*** Why the new NBC/WSJ poll contains rough news for the GOP: With just over 13 months until Election Day 2016, the Republican Party should be sitting pretty. The Democratic frontrunner, Hillary Clinton, has seen her popularity drop considerably in the new NBC/WSJ poll. What's more, 62% believe the country is headed in the wrong direction, which isn't good news for the party holding the White House. And President Obama's approval rating at 47% isn't bad, but it's not great, either. read more
Speaker of the House John Boehner, who announced his resignation from Congress effective at the end of October, has some choice words for the congressional caucus he just left: the Bible warned us about people like you. Boehner told CBS' Face the Nation on Sunday he was sick of "false prophets" among Republicans in Congress, saying conservative groups who have hammered his speakership over the past few years were "not realistic" and have "whipped people into a frenzy believing they can accomplish things that they know -- they know -- are never going to happen." According to Boehner, "the Bible says beware of false prophets. And there are people out there, you know, spreading noise about how much can get done. I mean this whole notion that we're going to shut down the government to get rid of Obamacare in 2013 -- this plan never had a chance." read more
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