Third Party & Independents Archives

Getting Postal With Hillary and Bernie

While some go postal - unavoidable pun - over Bernie Sanders plan to bring some banking services to the US Post Office, the real issue as far as Democrats and banks go, lies with Hillary. Which two senators, back in 2005, filibustered GOP legislation that would have held Fannie Mae and Freddie Mac to tougher standards with respect to loan quality and capital requirements, among other things?

Why Hillary Clinton and Barack Obama. Who, as senators, received significant contributions from Fannie Mae? Hillary and Barack. Who this year has raised slightly more than Jeb Bush from employees of major Wall Street banks? Hillary, of course. What bank is big enough to fail in Hillary's book(s)? Maybe a smaller community bank in fly-over country. Certainly not the major financial entities in the big money centers.

There was heat and light in Milwaukee on the issue of banks. Cruz's fight is about ratcheting down the level of moral hazard in the financial system. It's an issue that has to be tackled. Maybe a pull-out-all-support policy is too drastic. But if you read what Cruz has to say, it's about returning the Fed to it's original role as lender of last resort. That is: emergency loans with clear and robust requirements. Not a rolling quantitative easing that spills along endlessly quarter after quarter after quarter.

But, while a well-funded recalcitrance towards reform of the current financial system is what one can expect from a Clinton 2.0 presidency, maybe Bernie could get his wish as well. It would be a nice way of paying back his loyalty to Hillary after his thundering denouncement of the media focus on her email scandals. Remember the look on Hillary's face? Trying to look vindicated and humble, but desperately wanting to laugh out loud with delight (well she kinda almost did). And laugh out loud at Sanders.

So imagine - with a Hillary presidency - that we get the best of both worlds: a continuing TBTF financial system with Freddie and Fannie and ... a Postal Savings Bank! All bundled up in yet another layer of rules and regulations! Just like Europe and much of the rest of the world. America could proudly join the list of top countries in terms of 'postal financial inclusion'.

For example, the top 5 on uniglobalunion.org's ranking are: Morocco, Serbia, Belarus, Malaysia, & Indonesia. To be fair, Brazil and China are 8th & 9th. If Brazil and China provide top 10 'postal financial inclusion', surely America must follow. That would perhaps be something to get just a touch postal over.

Posted by AllardK at November 13, 2015 6:12 PM
Comments
Comment #400550

Allard, rewarding bad behavior begets more. Rewarding those who come here illegally invites more such behavior. Rewarding sloth in those able to work sends the wrong message. Rewarding unrest on our college campuses is not intellectual. Spending money we don’t have is “unbalanced”.

Posted by: Royal Flush at November 13, 2015 7:34 PM
Comment #400551

“Which two senators, back in 2005, filibustered GOP legislation that would have held Fannie Mae and Freddie Mac to tougher standards with respect to loan quality and capital requirements, among other things?
Why Hillary Clinton and Barack Obama.”

Liar.

No bill was ever brought up for consideration, even though the GOP controlled the Senate at the time. There was no filibuster.

Liar.

Posted by: phx8 at November 13, 2015 11:33 PM
Comment #400577
Spending money we don’t have is “unbalanced”.

But Royal conservatives have spent billions on war while cutting taxes. Isn’t that a special type of “unbalanced”? I mean spending money you don’t have, as a country, is one thing excluding perhaps in times of war and economic downturn, but intentionally cutting revenue while spending what you don’t have in times of war isn’t just unbalanced it is conservatism. Supporting conservatism is unbalanced. Yet here you are a conservative whining after the fact about spending which is hypocrisy IMHO.

Posted by: j2t2 at November 15, 2015 12:30 AM
Post a comment