GOP Prez Candidate Regrets Repealing Glass Steagall

 

At the South Carolina Tea Party Coalition Convention in Myrtle Beach, I asked GOP presidential candidate and former Senator Rick Santorum whether he would break up the banks and reinstate Glass Steagall, the Depression-era law that created a firewall between commercial and investment banking. The idea was to shield traditional banking assets from risky, speculative trading activities.

Glass Steagall was partially repealed under the Clinton administration in 1999, with the passage of the Graham-Leach-Bliley Act, a supporter of which was then-Senator Santorum. The repeal allowed for already big banks to become Too-Big-to-Fail behemoths, and thus has been widely cited as a cause of the 2008 financial crisis.

Although Santorum regrets his GLBA vote, he would nonetheless repeal Dodd Frank.

Sun., Jan. 17, 2016.

Ted Cruz: Natural Born Canadian

With just seven days until the Iowa caucus, this morning Republican presidential frontrunner Donald Trump tweeted that Ted Cruz should either settle claims of his eligibility for office or get out of the race. What was initially dismissed as trolling by both Cruz and the media has turned into a legitimate question for many voters. And some legal scholars agree.

Suits challenging Cruz’s eligibility have already been filed in Texas and Utah, but others are sure to follow. Progressive firebrand Congressman Alan Grayson is pledging to file, and Trump himself is mulling it over.

Against the odds, Ted Cruz is uniting both the right and left — uniting them against a common target. Who said Ted Cruz is divisive?

Graphic below is a Lady Libertine original.   

Natural Born Canadian

Tea Party Congressman Wants to Roll Back Clean Air and Water Acts

This piece was originally published in The Huffington Post.

At the South Carolina Tea Party Coalition Convention on Sunday, Congressman Jeff Duncan (R-SC 3) told me he wants to roll back the Clean Air and Water Acts and shrink the EPA. Meanwhile an enormous methane gas leak is poisoning the air in Southern California, and a state of emergency has been declared over the water crisis in Flint, Michigan. Plus there are a couple of other agencies Rep. Duncan would like to eliminate entirely…