John Kerry
Related: About this forumYesterday's debate made me revisit one of threads that made me proud to be part of the JK group
In the debate, Sanders was attacked for a vote that he and all but 4 Congressmen made on a bill that had the impact of not regulating derivatives.
In 2008, Tay Tay , one of the strongest posters in the John Kerry group, suggested that the group try to look at what the roots of the then occurring market crash were. The idea was that we would use skills we had developed and pull articles from media, written when something happened - not years later after people edited their roles and to find anything relevant in the Congressional record.
Here is the first comment that spoke of the Commodities bill - http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=273&topic_id=152906&mesg_id=153023
Incidentally, this thread (even with all my poor grammar and my pasting Markey's statement when I intended to post Lugar's) is still the thread that I am proudest to have been a part of on DU.
Rereading the stuff after the link given, there is a huge amount of information. The House actually had a stand alone vote on this -- and Sanders was joined by EVERY progressive Congressman there was - including the brilliant Physics PHD scientist, Holt, and Barney Frank. This bill was extremely complex and Greenspan and some Clinton administration economic people lobbied intensely for it. Back in 2008, I read many House comments and there was not a glimmer of the concern for the danger. On this, it is VERY different than the repeal of Glass Steagall, when several Senators and Congressman gave very strong speeches against it.
The closest I found to anyone concerned about it is Representative Markey. Here is a link to his comments - http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=273&topic_id=152906&mesg_id=153025 They are worth reading because of his concerns on how this was done. As he said he reluctantly voted for the bill. You could say the House was intimidated by people seen as economic gurus -- including Greenspan, who was very very highly regarded at that point.
In the Senate, there was no stand alone vote on this provision - it was part of a bigger bill. Kerry and the other liberals all voted against it. We gleefully looked for speeches from them deploring this abomination ... but they do not exist. The Democrats were against it as it severely cut liberal programs. The bill passed on Republican votes. In the conference committee, many of the Democratic concerns were addressed and funding was provided. The final bill was passed unanimously by voice vote in the Senate - meaning the leadership in both parties accepted it and there were no objections by any Senator to call for a roll call vote.
Gothmog
(154,638 posts)YvonneCa
(10,117 posts)...remember that discussion. We've all been here a LONG time!
I read through some of it this morning when you posted it. You and beachmom should be very proud of your excellent research. You both were very thorough and documented everything.
It is a reminder to me of DUJK at its best. I always learn so much from everyone here.
mylye2222
(2,992 posts)But read DUJKs archive. And yeah it souded amazing times!