1. I’m referring to the repeal of Glass-Steagall.
2. Being anti-NAFTA doesn’t mean being pro-tariff. Tariffs weren’t the only thing implicated in NAFTA’s signing into law.
3. Who appoints these federal judges and Supreme Court justices that are so hostile to anti-trust law?
4. You would do well being a lot less condescending. I got tired of it on the other board, and I’m already tired of it here.
1. I figured that you were referring to the repeal of Glass-Steagall. There is an enduring myth on the left that Glass-Steagall was this amazing policy that was protecting everyone and Clinton just caved to big money interests in getting rid of it. In fact, Glass-Steagall was already dead when it was formally terminated. The firms that really caused the financial crisis were born in a Glass-Steagall world.
The repeal of Glass-Steagall actually helped the US weather the financial crisis. The institutions that survived the financial crisis were the ones that Glass-Steagall made possible: JP Morgan Chase, Citigroup, Bank of America. The institutions that went belly up, like Lehman, Bear Stearns, Wachovia -- these were institutions that by and large played by the pre-1998 rules.
Glass-Steagall was bad regulation. That's not surprising, because financial regulation wasn't really a thing in those days. Laws like Glass-Steagall helped to create the field of financial regulation in economics and public policy -- and then when the professionals trained in those fields took a look at some of the Depression era laws, they came to realize that they weren't well-done. It's the same way that the US Constitution was a miracle in 1789 but doesn't work well at all in our time.
2. I am aware of what was in NAFTA. I think you're referring to the issue of non-tariff barriers. Well, non-tariff barriers are equivalent to tariffs. That's axiomatic trade law/trade economics. If you'd like me to use a more general term like "trade restrictions," fine. Answer the question. Should Michigan enact trade restrictions relative to Alabama. Why or why not?
3. The judges in question were appointed by Republican presidents because, as you might know, the presidency was controlled by Republicans from 1968-1992, with only a four year interregnum. That's 30 years of GOP judges against Carter's four, and Carter didn't even get a judge on the Supreme Court.
So it's all well and good to say, "Dems should do more for antitrust" but the reality is that Dems can't do anything if they can't win an election. I find it utterly mind-boggling for people to look at the history and say, "Bill Clinton was bad for our country." The election of Bill Clinton saved the country. If Clinton didn't win in 92, the economy would have been good again in 96, paving the way for another GOP presidency at that point. Maybe a Dem could have won in 96, but it would have been a centrist Dem whose policies looked a lot like Clinton's.
Stephen Breyer was the best judge in American history on antitrust law, in my view. Clinton appointed him in his first term. If Clinton had lost that election, we would have had a 7-2 GOP supermajority for years and years.