Both are wrong

[pknopp]

That's because it didn't make the news; you have to talk to people.

If none of this made the news, then where did the people you talked to get their information? If fact, it was all in the news and since that time several books have been written explaining the bizarre sequence of events that led to the financial crisis and the near collapse of the financial industry; all of them blame various actors in the financial industry either for stupidity or corruption, but none of them have pointed out any specific actions taken by the President or Congress that caused the crisis.

The government guaranteed the loans.

The federal government guaranteed the deposits, not the banks.

Fannie and Freddie were government-sponsored enterprises (GSEs). Like private companies, they had to be competitive to maintain their stock prices. At the same time, the federal government implicitly guaranteed the value of the mortgages they resold on the secondary market.

Did Fannie and Freddie Cause the Mortgage Crisis?

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

 

[PoliticalChic]

Corporations are not the people they supposedly represent and only the Board has the ability to make decisions.

The government makes policies that affect people's corporation, therefore they have freedom of speech to attack or defend candidates. Citizens United is a freedom of speech issue.

I didn't see the Democrat ire at the use of money by unions.

McCain/Feingold put restrictions on unions also.

Can you be this gullible???

1. Soros money supported and catalyzed theMcCain-Feingold Act, which banned ‘soft money,’ stripping the two major parties of their financial base. This allowed Soros to create a “Shadow Party,” designed to funnel massive amounts of capital into organizations that would assume the role that the political parties traditionally played.
   1. A 527 group is a private, tax-exempt political organization set up under Section 527 of the U.S. tax code. Such groups have been around for years but never took center stage until 2004, when they became major players. That's because McCain-Feingold shut the door on unlimited contributions (so-called "soft money") to political parties, so that many of the big-dollar donations began flowing to 527 groups instead. McCain-Feingold at Rest
2. The Shadow Party was born July 17, 2003, at Soros’s estate. It created the largest and most powerful juggernaut in American history. Present were Madeleine Albright, John Podesta, John Pope (director of the Sierra Club), Andy Stern (SEIU), among others. The basic structure of the Shadow Party was a network of seven 527 organizations.
   1. “… the network of nonprofit activist groups organized by George Soros and others to mobilize resources -- money, get-outthe-vote drives, campaign advertising and policy initiatives -- to elect Democratic candidates and guide the Democratic Party towards the left. The Internet fund-raising operation MoveOn.org is a key component. The Shadow Party in this sense was conceived and organized principally by Soros, Hillary Clinton and Harold Ickes. Its efforts are amplified by, and coordinated with, key government unions and the activist groups associated with the Association of Community Organizations for Reform Now (ACORN). The key organizers of these groups are veterans of the Sixties left.” http://www.churchmilitant.tv/cia/02fake/102.pdf
3. One part, called “America Votes” was referred to by one of its staffers as a “monster coalition” coordinating all of the left-wing grassroots groups including ACORN, Planned Parenthoood Action Fund, Sierra Club and the American Federation of Teachers and the SEIU. Soros contributed $23,700,000 in 2004.

As of 2004, an alphabetical list of Shadow Party groups included the following: Air America

Radio; America Coming Together; America Votes; American Constitution Society; American

Federation of Labor - Congress of Industrial Organizations; American Federation of State, County and

Municipal Employees; American Federation of Teachers; Anshell Media; Association of Community

Organizations for Reform Now; Association of Trial Lawyers of America; Band of Progressives; Brady

Campaign to Prevent Gun Violence; Campaign for a Progressive Future; Campaign for America's

Future; Center for American Progress; Clean Water Action; Communication Workers of America; The

Constitution Project; DASH PAC; Defenders of Wildlife Action Fund; Democracy for America;

Democratic Governors Associations; Democratic Legislative Campaign Committee; Democratic

Senatorial Campaign Committee; Dog Eat Dog Films; EMILY's List; Environment

2004; Gore/Lieberman Recount Committee; Hotel Employees & Restaurant Employees International

Union; the Human Rights Campaign; INdTV; International Brotherhood of Electrical Workers; Joint

Victory Campaign 2004; Laborers International Union of North American; League of Conservation

Voters; New Democrat Network; The Media Fund; Media Matters for America; Million Mom March;

Moving America Forward; MoveOn.org; Music for America; National Association for the

Advancement of Colored People; NARAL Pro-Choice America; National Education Association;

National Grassroots Alliance; National Jewish Democratic Council; National Treasury Employees

Union; New American Optimists; New Democrat Network; Partnership for America's Families; People for the American Way; Phoenix Group; Planned Parenthood; Pro-Choice Vote; Service Employees

International Union; Sheet Metal Workers International Association; Sierra Club; The Thunder Road

Group; United Food & Commercial Workers Union; United Progressive Alliance; USAction; Vagina

Votes; Voices for Working Families; Vote for Change; Young Voter Alliance; and 21st Century

Democrats.

http://www.churchmilitant.tv/cia/02fake/102.pdf

 

[PoliticalChic]

Corporations are not the people they supposedly represent and only the Board has the ability to make decisions.

The government makes policies that affect people's corporation, therefore they have freedom of speech to attack or defend candidates. Citizens United is a freedom of speech issue.

I didn't see the Democrat ire at the use of money by unions.

Or money from PAC's, which are, of course, what this thread is really about.

See post #62

 

[toomuchtime_]

If none of this made the news, then where did the people you talked to get their information? If fact, it was all in the news and since that time several books have been written explaining the bizarre sequence of events that led to the financial crisis and the near collapse of the financial industry; all of them blame various actors in the financial industry either for stupidity or corruption, but none of them have pointed out any specific actions taken by the President or Congress that caused the crisis.

The government guaranteed the loans.

The federal government guaranteed the deposits, not the banks.

Fannie and Freddie were government-sponsored enterprises (GSEs). Like private companies, they had to be competitive to maintain their stock prices. At the same time, the federal government implicitly guaranteed the value of the mortgages they resold on the secondary market.

Did Fannie and Freddie Cause the Mortgage Crisis?

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

That was a political decision by Obama.

 

[pknopp]

Corporations are not the people they supposedly represent and only the Board has the ability to make decisions.

The government makes policies that affect people's corporation, therefore they have freedom of speech to attack or defend candidates. Citizens United is a freedom of speech issue.

I didn't see the Democrat ire at the use of money by unions.

McCain/Feingold put restrictions on unions also.

Can you be this gullible???

1. Soros money supported and catalyzed theMcCain-Feingold Act, which banned ‘soft money,’ stripping the two major parties of their financial base. This allowed Soros to create a “Shadow Party,” designed to funnel massive amounts of capital into organizations that would assume the role that the political parties traditionally played.
   1. A 527 group is a private, tax-exempt political organization set up under Section 527 of the U.S. tax code. Such groups have been around for years but never took center stage until 2004, when they became major players. That's because McCain-Feingold shut the door on unlimited contributions (so-called "soft money") to political parties, so that many of the big-dollar donations began flowing to 527 groups instead. McCain-Feingold at Rest
2. The Shadow Party was born July 17, 2003, at Soros’s estate. It created the largest and most powerful juggernaut in American history. Present were Madeleine Albright, John Podesta, John Pope (director of the Sierra Club), Andy Stern (SEIU), among others. The basic structure of the Shadow Party was a network of seven 527 organizations.
   1. “… the network of nonprofit activist groups organized by George Soros and others to mobilize resources -- money, get-outthe-vote drives, campaign advertising and policy initiatives -- to elect Democratic candidates and guide the Democratic Party towards the left. The Internet fund-raising operation MoveOn.org is a key component. The Shadow Party in this sense was conceived and organized principally by Soros, Hillary Clinton and Harold Ickes. Its efforts are amplified by, and coordinated with, key government unions and the activist groups associated with the Association of Community Organizations for Reform Now (ACORN). The key organizers of these groups are veterans of the Sixties left.” http://www.churchmilitant.tv/cia/02fake/102.pdf
3. One part, called “America Votes” was referred to by one of its staffers as a “monster coalition” coordinating all of the left-wing grassroots groups including ACORN, Planned Parenthoood Action Fund, Sierra Club and the American Federation of Teachers and the SEIU. Soros contributed $23,700,000 in 2004.

As of 2004, an alphabetical list of Shadow Party groups included the following: Air America

Radio; America Coming Together; America Votes; American Constitution Society; American

Federation of Labor - Congress of Industrial Organizations; American Federation of State, County and

Municipal Employees; American Federation of Teachers; Anshell Media; Association of Community

Organizations for Reform Now; Association of Trial Lawyers of America; Band of Progressives; Brady

Campaign to Prevent Gun Violence; Campaign for a Progressive Future; Campaign for America's

Future; Center for American Progress; Clean Water Action; Communication Workers of America; The

Constitution Project; DASH PAC; Defenders of Wildlife Action Fund; Democracy for America;

Democratic Governors Associations; Democratic Legislative Campaign Committee; Democratic

Senatorial Campaign Committee; Dog Eat Dog Films; EMILY's List; Environment

2004; Gore/Lieberman Recount Committee; Hotel Employees & Restaurant Employees International

Union; the Human Rights Campaign; INdTV; International Brotherhood of Electrical Workers; Joint

Victory Campaign 2004; Laborers International Union of North American; League of Conservation

Voters; New Democrat Network; The Media Fund; Media Matters for America; Million Mom March;

Moving America Forward; MoveOn.org; Music for America; National Association for the

Advancement of Colored People; NARAL Pro-Choice America; National Education Association;

National Grassroots Alliance; National Jewish Democratic Council; National Treasury Employees

Union; New American Optimists; New Democrat Network; Partnership for America's Families; People for the American Way; Phoenix Group; Planned Parenthood; Pro-Choice Vote; Service Employees

International Union; Sheet Metal Workers International Association; Sierra Club; The Thunder Road

Group; United Food & Commercial Workers Union; United Progressive Alliance; USAction; Vagina

Votes; Voices for Working Families; Vote for Change; Young Voter Alliance; and 21st Century

Democrats.

http://www.churchmilitant.tv/cia/02fake/102.pdf

Church militant? Really?

If you have a long list of names how exactly are they shadow groups?

 

[pknopp]

The government guaranteed the loans.

The federal government guaranteed the deposits, not the banks.

Fannie and Freddie were government-sponsored enterprises (GSEs). Like private companies, they had to be competitive to maintain their stock prices. At the same time, the federal government implicitly guaranteed the value of the mortgages they resold on the secondary market.

Did Fannie and Freddie Cause the Mortgage Crisis?

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

That was a political decision by Obama.

It was all started under Bush.

 

[MisterBeale]

Rights is rights. They apply to all.

Nope, sorry, these organizations, in no way should be allowed to have the same rights as sovereign citizens. Fuck the elites, fuck Soros and Koch. Fuck them to hell.

Agreed, but if you fuck with their rights as sovereign citizens to act collectively, you invite others to fuck with your rights.

The Bill of Rights says nothing about applying rights to organizations.

It says nothing about applying person-hood to corporate entities or collective entities.

Again, of what are such entities comprised?

Fallacy of composition - Wikipedia

 

[PoliticalChic]

Corporations are not the people they supposedly represent and only the Board has the ability to make decisions.

The government makes policies that affect people's corporation, therefore they have freedom of speech to attack or defend candidates. Citizens United is a freedom of speech issue.

I didn't see the Democrat ire at the use of money by unions.

McCain/Feingold put restrictions on unions also.

Can you be this gullible???

1. Soros money supported and catalyzed theMcCain-Feingold Act, which banned ‘soft money,’ stripping the two major parties of their financial base. This allowed Soros to create a “Shadow Party,” designed to funnel massive amounts of capital into organizations that would assume the role that the political parties traditionally played.
   1. A 527 group is a private, tax-exempt political organization set up under Section 527 of the U.S. tax code. Such groups have been around for years but never took center stage until 2004, when they became major players. That's because McCain-Feingold shut the door on unlimited contributions (so-called "soft money") to political parties, so that many of the big-dollar donations began flowing to 527 groups instead. McCain-Feingold at Rest
2. The Shadow Party was born July 17, 2003, at Soros’s estate. It created the largest and most powerful juggernaut in American history. Present were Madeleine Albright, John Podesta, John Pope (director of the Sierra Club), Andy Stern (SEIU), among others. The basic structure of the Shadow Party was a network of seven 527 organizations.
   1. “… the network of nonprofit activist groups organized by George Soros and others to mobilize resources -- money, get-outthe-vote drives, campaign advertising and policy initiatives -- to elect Democratic candidates and guide the Democratic Party towards the left. The Internet fund-raising operation MoveOn.org is a key component. The Shadow Party in this sense was conceived and organized principally by Soros, Hillary Clinton and Harold Ickes. Its efforts are amplified by, and coordinated with, key government unions and the activist groups associated with the Association of Community Organizations for Reform Now (ACORN). The key organizers of these groups are veterans of the Sixties left.” http://www.churchmilitant.tv/cia/02fake/102.pdf
3. One part, called “America Votes” was referred to by one of its staffers as a “monster coalition” coordinating all of the left-wing grassroots groups including ACORN, Planned Parenthoood Action Fund, Sierra Club and the American Federation of Teachers and the SEIU. Soros contributed $23,700,000 in 2004.

As of 2004, an alphabetical list of Shadow Party groups included the following: Air America

Radio; America Coming Together; America Votes; American Constitution Society; American

Federation of Labor - Congress of Industrial Organizations; American Federation of State, County and

Municipal Employees; American Federation of Teachers; Anshell Media; Association of Community

Organizations for Reform Now; Association of Trial Lawyers of America; Band of Progressives; Brady

Campaign to Prevent Gun Violence; Campaign for a Progressive Future; Campaign for America's

Future; Center for American Progress; Clean Water Action; Communication Workers of America; The

Constitution Project; DASH PAC; Defenders of Wildlife Action Fund; Democracy for America;

Democratic Governors Associations; Democratic Legislative Campaign Committee; Democratic

Senatorial Campaign Committee; Dog Eat Dog Films; EMILY's List; Environment

2004; Gore/Lieberman Recount Committee; Hotel Employees & Restaurant Employees International

Union; the Human Rights Campaign; INdTV; International Brotherhood of Electrical Workers; Joint

Victory Campaign 2004; Laborers International Union of North American; League of Conservation

Voters; New Democrat Network; The Media Fund; Media Matters for America; Million Mom March;

Moving America Forward; MoveOn.org; Music for America; National Association for the

Advancement of Colored People; NARAL Pro-Choice America; National Education Association;

National Grassroots Alliance; National Jewish Democratic Council; National Treasury Employees

Union; New American Optimists; New Democrat Network; Partnership for America's Families; People for the American Way; Phoenix Group; Planned Parenthood; Pro-Choice Vote; Service Employees

International Union; Sheet Metal Workers International Association; Sierra Club; The Thunder Road

Group; United Food & Commercial Workers Union; United Progressive Alliance; USAction; Vagina

Votes; Voices for Working Families; Vote for Change; Young Voter Alliance; and 21st Century

Democrats.

http://www.churchmilitant.tv/cia/02fake/102.pdf

Church militant? Really?

If you have a long list of names how exactly are they shadow groups?

When you're as dumb as you are, I suppose you can't deny the facts, so complain about the source.


Open a book, dope.

 

[pknopp]

The government makes policies that affect people's corporation, therefore they have freedom of speech to attack or defend candidates. Citizens United is a freedom of speech issue.

I didn't see the Democrat ire at the use of money by unions.

McCain/Feingold put restrictions on unions also.

Can you be this gullible???

1. Soros money supported and catalyzed theMcCain-Feingold Act, which banned ‘soft money,’ stripping the two major parties of their financial base. This allowed Soros to create a “Shadow Party,” designed to funnel massive amounts of capital into organizations that would assume the role that the political parties traditionally played.
   1. A 527 group is a private, tax-exempt political organization set up under Section 527 of the U.S. tax code. Such groups have been around for years but never took center stage until 2004, when they became major players. That's because McCain-Feingold shut the door on unlimited contributions (so-called "soft money") to political parties, so that many of the big-dollar donations began flowing to 527 groups instead. McCain-Feingold at Rest
2. The Shadow Party was born July 17, 2003, at Soros’s estate. It created the largest and most powerful juggernaut in American history. Present were Madeleine Albright, John Podesta, John Pope (director of the Sierra Club), Andy Stern (SEIU), among others. The basic structure of the Shadow Party was a network of seven 527 organizations.
   1. “… the network of nonprofit activist groups organized by George Soros and others to mobilize resources -- money, get-outthe-vote drives, campaign advertising and policy initiatives -- to elect Democratic candidates and guide the Democratic Party towards the left. The Internet fund-raising operation MoveOn.org is a key component. The Shadow Party in this sense was conceived and organized principally by Soros, Hillary Clinton and Harold Ickes. Its efforts are amplified by, and coordinated with, key government unions and the activist groups associated with the Association of Community Organizations for Reform Now (ACORN). The key organizers of these groups are veterans of the Sixties left.” http://www.churchmilitant.tv/cia/02fake/102.pdf
3. One part, called “America Votes” was referred to by one of its staffers as a “monster coalition” coordinating all of the left-wing grassroots groups including ACORN, Planned Parenthoood Action Fund, Sierra Club and the American Federation of Teachers and the SEIU. Soros contributed $23,700,000 in 2004.

As of 2004, an alphabetical list of Shadow Party groups included the following: Air America

Radio; America Coming Together; America Votes; American Constitution Society; American

Federation of Labor - Congress of Industrial Organizations; American Federation of State, County and

Municipal Employees; American Federation of Teachers; Anshell Media; Association of Community

Organizations for Reform Now; Association of Trial Lawyers of America; Band of Progressives; Brady

Campaign to Prevent Gun Violence; Campaign for a Progressive Future; Campaign for America's

Future; Center for American Progress; Clean Water Action; Communication Workers of America; The

Constitution Project; DASH PAC; Defenders of Wildlife Action Fund; Democracy for America;

Democratic Governors Associations; Democratic Legislative Campaign Committee; Democratic

Senatorial Campaign Committee; Dog Eat Dog Films; EMILY's List; Environment

2004; Gore/Lieberman Recount Committee; Hotel Employees & Restaurant Employees International

Union; the Human Rights Campaign; INdTV; International Brotherhood of Electrical Workers; Joint

Victory Campaign 2004; Laborers International Union of North American; League of Conservation

Voters; New Democrat Network; The Media Fund; Media Matters for America; Million Mom March;

Moving America Forward; MoveOn.org; Music for America; National Association for the

Advancement of Colored People; NARAL Pro-Choice America; National Education Association;

National Grassroots Alliance; National Jewish Democratic Council; National Treasury Employees

Union; New American Optimists; New Democrat Network; Partnership for America's Families; People for the American Way; Phoenix Group; Planned Parenthood; Pro-Choice Vote; Service Employees

International Union; Sheet Metal Workers International Association; Sierra Club; The Thunder Road

Group; United Food & Commercial Workers Union; United Progressive Alliance; USAction; Vagina

Votes; Voices for Working Families; Vote for Change; Young Voter Alliance; and 21st Century

Democrats.

http://www.churchmilitant.tv/cia/02fake/102.pdf

Church militant? Really?

If you have a long list of names how exactly are they shadow groups?

When you're as dumb as you are, I suppose you can't deny the facts, so complain about the source.


Open a book, dope.

You failed to answer my question.

 

[Billy_Kinetta]

Rights is rights. They apply to all.

Nope, sorry, these organizations, in no way should be allowed to have the same rights as sovereign citizens. Fuck the elites, fuck Soros and Koch. Fuck them to hell.

Agreed, but if you fuck with their rights as sovereign citizens to act collectively, you invite others to fuck with your rights.

The Bill of Rights says nothing about applying rights to organizations.

It says nothing about applying person-hood to corporate entities or collective entities.

Again, of what are such entities comprised?

Fallacy of composition - Wikipedia

The owners and decision makers comprise the entity. A majority of shareholders may remove them should there be a problem.

 

[toomuchtime_]

The federal government guaranteed the deposits, not the banks.

Fannie and Freddie were government-sponsored enterprises (GSEs). Like private companies, they had to be competitive to maintain their stock prices. At the same time, the federal government implicitly guaranteed the value of the mortgages they resold on the secondary market.

Did Fannie and Freddie Cause the Mortgage Crisis?

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

That was a political decision by Obama.

It was all started under Bush.

Both Bush and Obama became bogged down in political ideological issues about the financial crisis instead of addressing the most important issue: how to protect main street from the effects of the financial crisis.

The financial crisis had left banks loaded down with worthless securities and that meant they had much less cash available for loans. This sharp credit contraction meant that creditworthy borrowers could not get loans to buy houses or cars or other big ticket items, and this caused business slowdowns and layoffs, which caused further economic distress. The only solution was for the government to make funds available, through one mechanism or another, to creditworthy borrowers to protect main street from the crisis. Twelve years before Sweden suffered a similar financial crisis and when the Swedish government saw the economy sagging, it took over the banks, closing some and pumping money into others so that there were sufficient funds available to creditworthy borrowers, and the Swedish economy quickly recovered. Once the crisis was over, the government sold the banks back to private investors, tucking away a tidy profit for taxpayers.

Left leaning economists demanded Obama do the same, but the US is not Sweden and Obama would have had to go through a bruising political battle to be allowed to take over the banks, so he demurred and saved the banks instead of trying to save the people.

 

[pknopp]

Fannie and Freddie were government-sponsored enterprises (GSEs). Like private companies, they had to be competitive to maintain their stock prices. At the same time, the federal government implicitly guaranteed the value of the mortgages they resold on the secondary market.

Did Fannie and Freddie Cause the Mortgage Crisis?

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

That was a political decision by Obama.

It was all started under Bush.

Both Bush and Obama became bogged down in political ideological issues about the financial crisis instead of addressing the most important issue: how to protect main street from the effects of the financial crisis.

Absolutely agree.

The financial crisis had left banks loaded down with worthless securities and that meant they had much less cash available for loans. This sharp credit contraction meant that creditworthy borrowers could not get loans to buy houses or cars or other big ticket items, and this caused business slowdowns and layoffs, which caused further economic distress. The only solution was for the government to make funds available, through one mechanism or another, to creditworthy borrowers to protect main street from the crisis. Twelve years before Sweden suffered a similar financial crisis and when the Swedish government saw the economy sagging, it took over the banks, closing some and pumping money into others so that there were sufficient funds available to creditworthy borrowers, and the Swedish economy quickly recovered. Once the crisis was over, the government sold the banks back to private investors, tucking away a tidy profit for taxpayers.

Nobody credit worthy had a problem getting a loan.

Left leaning economists demanded Obama do the same, but the US is not Sweden and Obama would have had to go through a bruising political battle to be allowed to take over the banks, so he demurred and saved the banks instead of trying to save the people.

This started under Bush.

 

[Indeependent]

Off-shoring, Business Visas, Trespassers, millions lost Healthcare coverage due to layoffs.
It was a good time to be a big shot at a corporation.
Of course, no one noticed until the Housing Crash.

How does this show greater influence from Wall Street over the government? Much of the financial industry ran amuck and government agencies like the FDIC failed to do due diligence, but none of that shows influence over the government.

Because that's not what happened.
I know dozens of Mortgage Bankers and Brokers and the software provided by the Feds rejected applications left and right.
The Lenders Rubber Stamped left and right.
In fact, I was out of work for 3 years and thousands in debt and was Rubber Stamped a 600,000K Home Equity Loan that I refused to take.
I am no more of an advocate for Government intervention than anyone else.
But I put the blame solely on Wall Street for the bull crap that went down.
And my friends in the business agree with me.

Both the banks and the government screwed up but I have not seen any evidence Wall Street's influence over government in this crisis.

That's because it didn't make the news; you have to talk to people.

If none of this made the news, then where did the people you talked to get their information? If fact, it was all in the news and since that time several books have been written explaining the bizarre sequence of events that led to the financial crisis and the near collapse of the financial industry; all of them blame various actors in the financial industry either for stupidity or corruption, but none of them have pointed out any specific actions taken by the President or Congress that caused the crisis.

Did you miss the part where I personally know dozens of Mortgage Bankers and Brokers across the US.?
I admit it's due to the Jew Connection.
We have our own Facebook Group where you have to provide the name of your Congregation's Rabbi before you're allowed into the group.
The Rabbi has to confirm you're a member of the Tribe.

 

[Indeependent]

The government guaranteed the value of the mortgages but not the banks.

And yet the banks were made whole plus more.

That was a political decision by Obama.

It was all started under Bush.

Both Bush and Obama became bogged down in political ideological issues about the financial crisis instead of addressing the most important issue: how to protect main street from the effects of the financial crisis.

Absolutely agree.

The financial crisis had left banks loaded down with worthless securities and that meant they had much less cash available for loans. This sharp credit contraction meant that creditworthy borrowers could not get loans to buy houses or cars or other big ticket items, and this caused business slowdowns and layoffs, which caused further economic distress. The only solution was for the government to make funds available, through one mechanism or another, to creditworthy borrowers to protect main street from the crisis. Twelve years before Sweden suffered a similar financial crisis and when the Swedish government saw the economy sagging, it took over the banks, closing some and pumping money into others so that there were sufficient funds available to creditworthy borrowers, and the Swedish economy quickly recovered. Once the crisis was over, the government sold the banks back to private investors, tucking away a tidy profit for taxpayers.

Nobody credit worthy had a problem getting a loan.

Left leaning economists demanded Obama do the same, but the US is not Sweden and Obama would have had to go through a bruising political battle to be allowed to take over the banks, so he demurred and saved the banks instead of trying to save the people.

This started under Bush.

Nobody had a problem getting a loan; that was the the problem.

 

[pknopp]

You won't be flying on a 737 Max anytime soon

And yet the banks were made whole plus more.

That was a political decision by Obama.

It was all started under Bush.

Both Bush and Obama became bogged down in political ideological issues about the financial crisis instead of addressing the most important issue: how to protect main street from the effects of the financial crisis.

Absolutely agree.

The financial crisis had left banks loaded down with worthless securities and that meant they had much less cash available for loans. This sharp credit contraction meant that creditworthy borrowers could not get loans to buy houses or cars or other big ticket items, and this caused business slowdowns and layoffs, which caused further economic distress. The only solution was for the government to make funds available, through one mechanism or another, to creditworthy borrowers to protect main street from the crisis. Twelve years before Sweden suffered a similar financial crisis and when the Swedish government saw the economy sagging, it took over the banks, closing some and pumping money into others so that there were sufficient funds available to creditworthy borrowers, and the Swedish economy quickly recovered. Once the crisis was over, the government sold the banks back to private investors, tucking away a tidy profit for taxpayers.

Nobody credit worthy had a problem getting a loan.

Left leaning economists demanded Obama do the same, but the US is not Sweden and Obama would have had to go through a bruising political battle to be allowed to take over the banks, so he demurred and saved the banks instead of trying to save the people.

This started under Bush.

Nobody had a problem getting a loan; that was the the problem.

Initially, yes.

 

[there4eyeM]

As Dylan wrote and sang, "Money doesn't talk, it swears". This kowtowing to lucre is disgusting, inhuman and a sure path to destruction.

 

[there4eyeM]

The U.S. has a representative government, and it is clear who is represented. That is not hidden and is not open to debate. How to return the representation to how it was intended is the only question.

 

[pknopp]

The U.S. has a representative government, and it is clear who is represented. That is not hidden and is not open to debate. How to return the representation to how it was intended is the only question.

Your vote carries the same weight that the vote of the billionaire does.

 

[sparky]

How does this show greater influence from Wall Street over the government? Much of the financial industry ran amuck and government agencies like the FDIC failed to do due diligence, but none of that shows influence over the government.

These globalists set up these rules so that foreign governments and multi-nationals could funnel cash in, as a way to influence our government.

Congressional millionaires are at an all time high now

One would imagine '$$$ influence' the reason , considering they are paid $174K per year

~S~

 

[there4eyeM]

Unlimited campaign spending is anti-democratic.