Here's Your Deregulation You Peons

[WillowTree]

Dude,

Assuming for the sake of argument that the above is true... $700 Billion? Really?

With 8 years of quality conservative leadership to fix the problems that Clinton created, several of which the republicans controlled congress too...

$700 Billion in loans that the banks had no choice to make under federal law?

Really?

-Joe

Ya know, I've been thinking. Instead of bailing all these assholes out wouldn't it make more sense for the Federal Government to put that 750 Billion with a B dollars into one large pool and then when "the average American needs to buy a car or get a loan to send their children to school, or a small business needs a loan to buy materials" ( which is their stated reason that this has to happen and happen fast.) to borrow it directly from the pool and then pay it back with say a 5% interest rate? Wouldn't we all be better off and feel the money was better spent? How come we pay these assholes up there and they don't think of stuff like that?

 

[PubliusInfinitum]

i'm sure that when it comes to groping, you wrote the book.
good luck.

So you actually specialize in spam? Good for you!

Sadly, baseless, irrelevant opinions aren't worth very much and tend to distract from the discussion.

Would you be capable of addressing any of the cogent points relevant to this discussion? I'll give ya one more opportunity and just to be fair I should warn you that if you fail to advance a lucid, cogent, relevant point, I will slap you in the leftist hall of shame OKA: the ignore box.

So I've extended you the courtesy of responding to your post twice, but I've absolutely no interests of how you 'feel' about me; but I'm absolutely DYIN' to know what you THINK about this current mortgage market calamity.

So, here's your chance sis... either find the courage to post a cogent, relevant thought or get lost.

 

[del]

So you actually specialize in spam? Good for you!

Sadly, baseless, irrelevant opinions aren't worth very much and tend to distract from the discussion.

Would you be capable of addressing any of the cogent points relevant to this discussion? I'll give ya one more opportunity and just to be fair I should warn you that if you fail to advance a lucid, cogent, relevant point, I will slap you in the leftist hall of shame OKA: the ignore box.

So I've extended you the courtesy of responding to your post twice, but I've absolutely no interests of how you 'feel' about me; but I'm absolutely DYIN' to know what you THINK about this current mortgage market calamity.

So, here's your chance sis... either find the courage to post a cogent, relevant thought or get lost.

no problem.
bite me.
not only is it cogent, but it's also succinct.

 

[Care4all]

Dude,

Assuming for the sake of argument that the above is true... $700 Billion? Really?

With 8 years of quality conservative leadership to fix the problems that Clinton created, several of which the republicans controlled congress too...

$700 Billion in loans that the banks had no choice to make under federal law?

Really?

-Joe

he has no idea the extent of this crisis or all of whom are involved....it is very complicated and hard to get ones arms around because sooooo many different entities went in to this supposed collapse....

it was murphy's law, what can go wrong will go wrong, tied in with the perfect storm...and a bunch of negligence

those that solely want to blame the 20% of all subprime borrowers defaulting for this entire mess just to have some group of blacks or hispanics to blame....then so be it.... no one will change their mind....we have quite a few on this board that seems to be taking that sole stance....sad but apparently true.... no mention that the other 80% of these subprime borrowers are still keeping up with their payments....

This is so much bigger than the initially bamboozled borrowers it's pathetic....imo.

congress should not support this bail out....imo, or we set the stones for this to happen again and again.....us bailing out the corps for their own intentional negligence....

but with some on this board...that's ok....paying off the negligent crooks, as long as the poor people do not get helped in to conventional mortgages to keep their homes.... that's their sole worry it seems....?

care

 

[WillowTree]

he has no idea the extent of this crisis or all of whom are involved....it is very complicated and hard to get ones arms around because sooooo many different entities went in to this supposed collapse....

it was murphy's law, what can go wrong will go wrong, tied in with the perfect storm...and a bunch of negligence

those that solely want to blame the 20% of all subprime borrowers defaulting for this entire mess just to have some group of blacks or hispanics to blame....then so be it.... no one will change their mind....we have quite a few on this board that seems to be taking that sole stance....sad but apparently true.... no mention that the other 80% of these subprime borrowers are still keeping up with their payments....

This is so much bigger than the initially bamboozled borrowers it's pathetic....imo.

congress should not support this bail out....imo, or we set the stones for this to happen again and again.....us bailing out the corps for their own intentional negligence....

but with some on this board...that's ok....paying off the negligent crooks, as long as the poor people do not get helped in to conventional mortgages to keep their homes.... that's their sole worry it seems....?

care

It looks like they are going to do it though. The train has left the station.

 

[AVG-JOE]

It looks like they are going to do it though. The train has left the station.

Not 'till the congress votes on it and Bush signs it.

Keep sending those e-mails and phone calls flying to Washington folks!

It ain't over 'till Nancy & the Dick drop their gavels!

-Joe

 

[PubliusInfinitum]

Dude,

Assuming for the sake of argument that the above is true... $700 Billion? Really?

With 8 years of quality conservative leadership to fix the problems that Clinton created, several of which the republicans controlled congress too...

$700 Billion in loans that the banks had no choice to make under federal law?

Really?

-Joe

I agree completely... What I think should happen is the management of BOTH Fanny and Freddy should have already been indicted for fraud; and the rest of the industry should have been left to do what they needed to do to work it out. The properties would have been sold off, correcting the absurdly inflated real estate markets; and a brand new industry would grow to replace that which failed...

As it stands now, you're going to get an extension of this outrageously inflated real estate values, the cost of buying a first time home will be 4-5 times higher than new families could ever hope to afford and eventually, despite the trillion dollars pissed away by the US government, the system must return to balance and when it does, it may very well take the government with it.

I mean THINK about it. Do you think that the Left will suddenly stop running up the panics for more social spending when the US government spends this trillion? Of course not... They'll still be out there demanding more and more hundreds of billions for the children, the poor, the women, the blacks, the Hispanics, the handicapped, the unemployed, the sick, the old and so on...

In the mean time, the US still has its international interests that must be met... If we pull our troops out of fighting international Islamic Terrorism... do you think that terrorists will look around and realize what a break this is and turn from attacking the US, her interests and allies? Hell no... they will look at it as a victory and redouble their efforts... 9-11 cost a trillion dollars in an hour and a half...

The point is that this money will not solve the problem... it will merely encourage more of the same thing that caused it and eventually, the system must collapse. The bad news is that the spending curve is growing exponentially and it's facinating to watch... I don't know how much more it can take, but I do know it can't continue forever.

Hell I thought when this thing first began that we'd have been well out of it by now... but the Federal government seems determined to follow the policy which extended the correction of 29 to a decade long economic catastrophe; and both of the candidates running for President are WELL left of GW Bush... so we can expect massive tax increases across the board; massive increases in regulation, when inflation explodes they'll tighten the money supply and begin price controls... it's history man... which means sadly, that it's the future.

Of all of the mysteries that life provides... 'what leftists will do' is not one of them...

 

[Ultra]

They're incapable of forming a lucid argument; they 'feel' they know something, they just can't express it and despite this severe intellectual limitation they're allowed decide what individual represents them in determining what policy the US government should execute...

In some areas of America, once upon a time, only property owning men over the age of 30 were allowed to vote.

Only property owners voting, hmmm.........

 

[AVG-JOE]

I agree completely...

That was sarcasm there Bud.

The point I was going for was that $700 Billion seems like an awful lot for even our screwed up system to have 'mandated' the banks loan out to unqualified borrowers.

I think the 'crisis' is as real as the WMD's that were supposedly hidden in Saddam Husseins sock drawer.

Obviously there is something going on, but it is not the fault of either the stupid or the duped people borrowing beyond their means.

-Joe

 

[WillowTree]

Not 'till the congress votes on it and Bush signs it.

Keep sending those e-mails and phone calls flying to Washington folks!

It ain't over 'till Nancy & the Dick drop their gavels!

-Joe

It's pretty much over Bohener has capitulated.

 

[PubliusInfinitum]

he has no idea the extent of this crisis or all of whom are involved....it is very complicated and hard to get ones arms around because sooooo many different entities went in to this supposed collapse....

it was murphy's law, what can go wrong will go wrong, tied in with the perfect storm...and a bunch of negligence

those that solely want to blame the 20% of all subprime borrowers defaulting for this entire mess just to have some group of blacks or hispanics to blame....then so be it.... no one will change their mind....we have quite a few on this board that seems to be taking that sole stance....sad but apparently true.... no mention that the other 80% of these subprime borrowers are still keeping up with their payments....

This is so much bigger than the initially bamboozled borrowers it's pathetic....imo.

congress should not support this bail out....imo, or we set the stones for this to happen again and again.....us bailing out the corps for their own intentional negligence....

but with some on this board...that's ok....paying off the negligent crooks, as long as the poor people do not get helped in to conventional mortgages to keep their homes.... that's their sole worry it seems....?

care

First I haven't blamed this on any ethnicty... I stated as a FACT, that the mortgage industry meltdown is a result of social engineering BY THE SOCIALISTS... their interfering regulatory requirements forced this problem on the market.

Yes, its complex in ferreting out the micro-reasoning for each step, with the bundling of securitized mortgages and so on... but in the macro it's quite easy to get the head around.

It boils down to supply and demand... The result is that mortgages became plentiful, for what ever reason... getting a mortgage was EASY!~ The result of that is the same as it always is, where there is a product or instrument that people want and or need and it becomes easy to realize: EVERYONE GETS ONE! As a result of that, the mortgages ran up the perceived value of real estate and inevitably what you're left with is a boat load of banks holding bad mortgages which they can't move because the value of those mortgages are in some cased 2, 3 and 4 times the value for which the property can be sold.

The simple, if unfortunate fact is that you don't need a majority of these loans to go south before it cripples the industry and if we're not there yet, we're not far from it.

The bad news is that the government is doign exactly the opposite of what needs to be done... cleansing itself of the socialists that caused the government to manipulate the private sector and prosecuting managers within the private sector that cooked the books to under report their exposure and beyond that: ABSOLUTELY NOTHING except to get out of the way and let the market adjust.

 

[PubliusInfinitum]

In some areas of America, once upon a time, only property owning men over the age of 30 were allowed to vote.

Only property owners voting, hmmm.........

Yeah... it was in the earliest colonies; the idea being that owning property meant the citizen was vested; that they had a tangible stake in the success or failure of the system in which they were casting their vote...

 

[Ultra]

Yeah... it was in the earliest colonies; the idea being that owning property meant the citizen was vested; that they had a tangible stake in the success or failure of the system in which they were casting their vote...

'xactly. Gives one pause for thought.

 

[Diuretic]

tough shit buddy, you guys call conservatives idiots and morons at the drop of a hat, choose, you wanna play that way that's what we will do. you want civility? I can do that too. check it out and sweep you house clean.

I used to get into some terrible squabbles with a couple of right wingers here. I gave as good as I got and then some. But one day it struck me that it was all a bit stupid, lining up and effing and blinding at someone using my keyboard. So I quietly left. It was a fair while later I came back to this site and was ready to do battle again with those right wingers who were still here (not now though). So off I went as usual. I got a thorough telling off from another poster, no a moderator, who put to me that it wasn't that good a look.

He was right. I stopped it and found that without the aggressive words it was a lot more enjoyable to read other people's ideas. Granted I can still get a bit snarky but it's comparatively rare. I took the view that this is a marketplace of ideas and that I had been given a market correction. Best thing that happened to me because it meant I wouldn't stoop to ridicule and anger (well, not as much as I used to).

I can be a prick though and can be very cutting. I always feel like a complete and total arsehole a few hours later though. Serves me right too.

 

[AVG-JOE]

It's pretty much over Bohener has capitulated.

Well, that's a bummer.

Hope they do a roll call vote... we're going to need a list of their 'Yeas' and 'Nays' so we can issue some yeas and nays of our own on November 4.

-Joe

 

[DiveCon]

Well, that's a bummer.

Hope they do a roll call vote... we're going to need a list of their 'Yeas' and 'Nays' so we can issue some yeas and nays of our own on November 4.

-Joe

bet they dont do a roll call

no one on either side is gonna want that on their record right before an election
when the overwhelming majority of Americans are opposed to this asinine bailout

 

[Charles_Main]

we are well on the way. We used to have 5 investment banks. Only two are still standing.

Just wait and see as Capitalism works, and new ones pop up to take up the slack.

You act as if this will never happen, I assure you it will.

For every failed company or Bank there are several up starts looking to move in.

 

[Care4all]

Just wait and see as Capitalism works, and new ones pop up to take up the slack.

You act as if this will never happen, I assure you it will.

For every failed company or Bank there are several up starts looking to move in.

some of the old ones.

in the s & l bailout, many of the very banks that went under, began again by buying other hurting banks when they were cheap....

 

[DiveCon]

Just wait and see as Capitalism works, and new ones pop up to take up the slack.

You act as if this will never happen, I assure you it will.

For every failed company or Bank there are several up starts looking to move in.

thats partially why i oppose this stupid bailout

 

[I Missthe North]

[youtube]_MGT_cSi7Rs[/youtube]
You keep crying and crying and crying "DEREGULATION DID THIS!"

OK, let's hang the bastards who propped-up the corporate fat cats.

I am not saying that the democrats are not partially at blame for the current situation, but the video you just showed us was a waste of time. It was clearly cut up by someone with an agenda and is horrendously one sided. Who knows how many of those clips were taken out of context. Yes, they looked bad, but that is exactly what the producer of that little clip wanted. If you want anyone to take you seriously, try to produce information that at least pretends to be unbiased. That is generally the only reliable variety.