a great source of information on What happened to our economy

Discussion in 'Economy' started by Truthmatters, May 19, 2011.

  1. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    https://www.aba.com/ABASA/ABASA_GLB.htm

    This lists the progress in the implemetation of the Gramm Leach Biliey act.


    There were purposeful holdups of the safety regulations which helped the banks game our finfiacial sytem.
     
  2. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Yeah information is a scary thing huh?

    Its all in here folks and who caused it and why.

    A little bit of thinking and alot of reading and you see how the Bush admin and the industry gamed us and postponed safe gaurd put into GLB so the banks could fuck us.
     
  3. sparky
    Offline

    sparky VIP Member

    Joined:
    Oct 19, 2008
    Messages:
    3,326
    Thanks Received:
    324
    Trophy Points:
    83
    Location:
    paradise
    Ratings:
    +341
    a little more relevant history>

    Glass
     
  4. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    I found these books fairly informative:

    [ame="http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Daps&field-keywords=krugman+unravling&rh=i%3Aaps%2Ck%3Akrugman+unravling&ajr=0"]Amazon.com: krugman unravling[/ame]

    [ame="http://www.amazon.com/Freefall-America-Markets-Sinking-Economy/dp/0393075966/ref=sr_1_1?ie=UTF8&s=books&qid=1305892653&sr=8-1"]Amazon.com: Freefall: America, Free Markets, and the Sinking of the World Economy (9780393075960): Joseph E. Stiglitz: Books[/ame]

    While we're about eh business of recommending readings

    Can anyone suggest a introductary book on Von Mises?
     
    Last edited: May 20, 2011
  5. expat_panama
    Offline

    expat_panama Silver Member

    Joined:
    Apr 12, 2011
    Messages:
    2,461
    Thanks Received:
    252
    Trophy Points:
    98
    Ratings:
    +253
    Perfect for those that need to be shown what happened and need to be told what to think and who to hate. Not so good for people doing their own search for hard numbers on what happened and deciding for themselves what to do now.
     
  6. Trajan
    Offline

    Trajan conscientia mille testes

    Joined:
    Jun 17, 2010
    Messages:
    29,048
    Thanks Received:
    4,751
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,756
    I am done, your link in the op, is just a hodge podge that explains nothing, the links,lead to the kind of mind numbing legalese/verbiage that makes one eyes glassy, an educational post would have contained what the bill did did not do etc. in some simpler language, BUT that wasn't your point, was it?

    here ya go, nov. 4 1999-

    [​IMG]

    and who signed it ?


    I made a promise to myself recently, like 2 days ago, I would stop wasting time reading and responding to folks here who have a history of inanity and dishonesty, so, I am going to euthanize you the only way I know how, welcome to ignore .....when you put a person with a trace of sentience behind the KB instead of a dumb mutt, send me a PM.
     
    • Thank You! Thank You! x 1
    Last edited: May 20, 2011
  7. hjmick
    Offline

    hjmick Gold Member

    Joined:
    Mar 28, 2007
    Messages:
    16,157
    Thanks Received:
    4,676
    Trophy Points:
    270
    Location:
    Charleston, SC
    Ratings:
    +7,101
    BUuUSH!!
     
  8. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Its the real trail folks, the broker exceptions were held up by the Cox SEC and that allowed the banks to call anyone they wanted a "broker".

    These people were picked and trained by the banks themselves to sell shit sandwhiches a caviar.


    Its all there.

    The numberous times the SEC under the Bush admin repetedly held up the laws in GLBA which protected the buyer of securities.

    Year after year they would hold some bullshit review to say that they rules had to be yet again held up so the banks could have time to comply with the new regulations.


    How many years did they need?
     
  9. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    Ex-SEC Official Blames Agency for Blow-Up of Broker-Dealers - September 18, 2008 - The New York Sun



    The SEC allowed five firms — the three that have collapsed plus Goldman Sachs and Morgan Stanley — to more than double the leverage they were allowed to keep on their balance sheets and remove discounts that had been applied to the assets they had been required to keep to protect them from defaults.

    Making matters worse, according to Mr. Pickard, who helped write the original rule in 1975 as director of the SEC's trading and markets division, is a move by the SEC this month to further erode the restraints on surviving broker-dealers by withdrawing requirements that they maintain a certain level of rating from the ratings agencies.




    You people love to ignore REAL information.

    Its because you know the real information will force you to look into your souls and reguire you abandon your historically failed ideas.


    This mess was orchstrated by the leadership of the republican party.
     
    Last edited: May 23, 2011
  10. CrusaderFrank
    Offline

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,156
    Thanks Received:
    14,900
    Trophy Points:
    2,210
    Ratings:
    +36,884
    "These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," -- Representative Barney Frank

    Fannie and Freddie were the epicenter of the disaster. Neither firm should exist past 2013
     

Share This Page