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[Toddsterpatriot]

You chose to ignore the Elephant in the room (pun intended)...the economic philosophy of over two decades that led up to getting rid of Glass Steagall

In a reply to a comment 'Bush was the first leader in recorded history to cut taxes during war time' you argue: "Reagan cut taxes during the cold war" -- Funny, everyone usually says that was peace time. There is a reason the distinction of 'cold' is added to 'war'

Darn that Clinton for getting rid of Glass-Steagall. LOL!

So how did Clinton's deregulation cause the crisis?

Be specific.

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part. That and stripping regulators of their powers and staffing.

A simple search would yield you arguments that make the case...see quote block...and The Chairman of the Federal Reserve who advocated policies that set up the environment that welcomed the 2007/2008 economic crisis, actually apologized before Congress...on national television.

Clinton's economic policies played a smaller role than that of his peers (Reagan, Bush, Bush) and he gets some blame, but if want to run with the argument that President Clinton was a supply sider in bed with conservative academics and economic warriors...make it...

The repeal of Glass Steagall itself did not cause the financial crisis. However, the repeal did help make the crisis worse.

I bring this up because there has been a series of straw man articles claiming Glass Steagall was not a cause in the crisis. This misstates the impact and the broader context. The overturning of the successful 1933 legislation was part and parcel of an ideology that WAS a major factor in the crash: The erroneous belief system that banks can self-regulate. This manifested in a variety of bad ideas, poor oversight and worse legislation.

The finacialization of the American economy allowed banks to become bigger, more complex, and greatly leveraged. When it all came down, the crisis was broader, deeper and more dangerous than it would have been otherwise.

Glass Steagall’s repeal, after 25 years and $300 million worth of lobbying efforts, culminated decades of radical deregulation.

one example of an argument

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part.

Deregulating the banks made them write bad mortgages?

 

[JoeB131]

No excuses..It will just show that America has a lot of stupid folks running around.

You would have to be dumb as a bag of rocks to re-elect Obama.

I would like to think, by now, most have wised up and will get it right this time around.

Frankly, I don't think OBama's been a great president. Not as bad as Carter or the Bushes, not as good as Clinton or Reagan.

But when you guys nominated Romney, you really didn't leave people with a choice.

Romney is more of what got us into the mess to start with.

What got us into the mess to start with?

I could explain it to you, but you still wouldn't understand... even your Avi looks retarded.

 

[Toddsterpatriot]

Frankly, I don't think OBama's been a great president. Not as bad as Carter or the Bushes, not as good as Clinton or Reagan.

But when you guys nominated Romney, you really didn't leave people with a choice.

Romney is more of what got us into the mess to start with.

What got us into the mess to start with?

I could explain it to you, but you still wouldn't understand... even your Avi looks retarded.

Oh, come on, give me your incorrect, left-wing explanation.

 

[Procrustes Stretched]

Darn that Clinton for getting rid of Glass-Steagall. LOL!

So how did Clinton's deregulation cause the crisis?

Be specific.

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part. That and stripping regulators of their powers and staffing.

A simple search would yield you arguments that make the case...see quote block...and The Chairman of the Federal Reserve who advocated policies that set up the environment that welcomed the 2007/2008 economic crisis, actually apologized before Congress...on national television.

Clinton's economic policies played a smaller role than that of his peers (Reagan, Bush, Bush) and he gets some blame, but if want to run with the argument that President Clinton was a supply sider in bed with conservative academics and economic warriors...make it...

The repeal of Glass Steagall itself did not cause the financial crisis. However, the repeal did help make the crisis worse.

I bring this up because there has been a series of straw man articles claiming Glass Steagall was not a cause in the crisis. This misstates the impact and the broader context. The overturning of the successful 1933 legislation was part and parcel of an ideology that WAS a major factor in the crash: The erroneous belief system that banks can self-regulate. This manifested in a variety of bad ideas, poor oversight and worse legislation.

The finacialization of the American economy allowed banks to become bigger, more complex, and greatly leveraged. When it all came down, the crisis was broader, deeper and more dangerous than it would have been otherwise.

Glass Steagall’s repeal, after 25 years and $300 million worth of lobbying efforts, culminated decades of radical deregulation.

one example of an argument

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part.

Deregulating the banks made them write bad mortgages?

Bad mortgages?

haven't got time to teach a class today, but...

You may want to look up How Abusive Practices Destroyed the Mortgage Market.

Mortgage-Backed Securities

A bank makes an interest-only loan to a homeowner.
The bank then sells the mortgage to Fannie Mae. This gives the bank more funds to make new loans.
Fannie Mae resells the mortgage in a package of other interest-only mortgages on the secondary market. This is a mortgage-backed security (MBS), which has a value that is derived by value of the mortgages in the bundle.
Often the MBS is bought by a hedge fund, which then slices out portion of the MBS, let's say the second and third years of the interest-only loans, which is riskier since it is farther out, but also provides a higher interest payment. It uses sophisticated computer programs to figure out all this complexity. It then combines it with similar risk levels of other MBS and resells just that portion, called a tranche, to other hedge funds.
All goes well until housing prices decline or interest rates reset and the mortgages start to default.

Role of Derivatives in Creating Mortgage Crisis

 

[Toddsterpatriot]

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part. That and stripping regulators of their powers and staffing.

A simple search would yield you arguments that make the case...see quote block...and The Chairman of the Federal Reserve who advocated policies that set up the environment that welcomed the 2007/2008 economic crisis, actually apologized before Congress...on national television.

Clinton's economic policies played a smaller role than that of his peers (Reagan, Bush, Bush) and he gets some blame, but if want to run with the argument that President Clinton was a supply sider in bed with conservative academics and economic warriors...make it...

Clinton's deregulation didn't cause the crisis, but the role of deregulation for over 2 decades played a huge part.

Deregulating the banks made them write bad mortgages?

Bad mortgages?

haven't got time to teach a class today, but...

You may want to look up How Abusive Practices Destroyed the Mortgage Market.

Mortgage-Backed Securities

A bank makes an interest-only loan to a homeowner.
The bank then sells the mortgage to Fannie Mae. This gives the bank more funds to make new loans.
Fannie Mae resells the mortgage in a package of other interest-only mortgages on the secondary market. This is a mortgage-backed security (MBS), which has a value that is derived by value of the mortgages in the bundle.
Often the MBS is bought by a hedge fund, which then slices out portion of the MBS, let's say the second and third years of the interest-only loans, which is riskier since it is farther out, but also provides a higher interest payment. It uses sophisticated computer programs to figure out all this complexity. It then combines it with similar risk levels of other MBS and resells just that portion, called a tranche, to other hedge funds.
All goes well until housing prices decline or interest rates reset and the mortgages start to default.

Role of Derivatives in Creating Mortgage Crisis

Bad mortgages?

Yeah, they caused a crisis a few years ago.
It was in all the papers.

haven't got time to teach a class today, but...

First you'd have to take a bunch and then you'd have to learn how to teach.
I don't have 5 years to wait for you to get started.

You may want to look up How Abusive Practices Destroyed the Mortgage Market.

So now deregulation allowed abusive practices?

What specifically in Glass-Steagall outlawed these abusive practices?

All goes well until housing prices decline or interest rates reset and the mortgages start to default.

Why does the hedge fund care if the mortgage defaults?

 

[Toddsterpatriot]

ok.. fair enough.. although proportionately, middle class people saved maybe a couple of hundred dollars. so where do you think the bulk of cuts were? then he ran two wars on china's dime...further empowering china. he was the first leader in recorded history to cut taxes during war time.

oh.. they were just reasons why life is better now than four years ago.

so? we should have payouts to explore if solar works. i saw something that pointed out that of the money invested by the federal government into alternative energies, only 8% went bad. that's about 1/3 of the failure rate of bain capital. so that particular bit of hyperbole doesn't really impress me.

glass stiegel... that deregulation.

so where do you think the bulk of cuts were?

Lot more people in the middle class.
Rich people paid a larger percentage after the cuts.

he was the first leader in recorded history to cut taxes during war time.

Reagan cut taxes during the Cold War. And despite the tax cuts and the 2 wars, the deficit dropped to $162 billion in 2007.
Obama ended the wars, why is his deficit still so much larger?

so? we should have payouts to explore if solar works.

How much did we lose on Obama's poor investment choices?

i saw something that pointed out that of the money invested by the federal government into alternative energies, only 8% went bad.

I'd like to see your source.

glass stiegel... that deregulation

You're afraid Romney will be like Clinton?
Just how do you think Glass-Steagall caused our problems?

You chose to ignore the Elephant in the room (pun intended)...the economic philosophy of over two decades that led up to getting rid of Glass Steagall

In a reply to a comment 'Bush was the first leader in recorded history to cut taxes during war time' you argue: "Reagan cut taxes during the cold war" -- Funny, everyone usually says that was peace time. There is a reason the distinction of 'cold' is added to 'war'

Funny, defense spending was higher during the Cold War than during Bush's 2 wars.

 

[Procrustes Stretched]

so where do you think the bulk of cuts were?

Lot more people in the middle class.
Rich people paid a larger percentage after the cuts.

he was the first leader in recorded history to cut taxes during war time.

Reagan cut taxes during the Cold War. And despite the tax cuts and the 2 wars, the deficit dropped to $162 billion in 2007.
Obama ended the wars, why is his deficit still so much larger?

so? we should have payouts to explore if solar works.

How much did we lose on Obama's poor investment choices?

i saw something that pointed out that of the money invested by the federal government into alternative energies, only 8% went bad.

I'd like to see your source.

glass stiegel... that deregulation

You're afraid Romney will be like Clinton?
Just how do you think Glass-Steagall caused our problems?

You chose to ignore the Elephant in the room (pun intended)...the economic philosophy of over two decades that led up to getting rid of Glass Steagall

In a reply to a comment 'Bush was the first leader in recorded history to cut taxes during war time' you argue: "Reagan cut taxes during the cold war" -- Funny, everyone usually says that was peace time. There is a reason the distinction of 'cold' is added to 'war'

Funny, defense spending was higher during the Cold War than during Bush's 2 wars.

Defense spending on new technology and the ability to fight wars on two front.



What front were we fighting a war on?




idiot

 

[Toddsterpatriot]

You chose to ignore the Elephant in the room (pun intended)...the economic philosophy of over two decades that led up to getting rid of Glass Steagall

In a reply to a comment 'Bush was the first leader in recorded history to cut taxes during war time' you argue: "Reagan cut taxes during the cold war" -- Funny, everyone usually says that was peace time. There is a reason the distinction of 'cold' is added to 'war'

Funny, defense spending was higher during the Cold War than during Bush's 2 wars.

Defense spending on new technology and the ability to fight wars on two front.



What front were we fighting a war on?




idiot

Bush can't cut taxes during wartime, because we're spending so much.

Reagan spent more on defense than Bush and cut the top rate from 70% to 28%.

 

[JoeB131]

What got us into the mess to start with?

I could explain it to you, but you still wouldn't understand... even your Avi looks retarded.

Oh, come on, give me your incorrect, left-wing explanation.

I don't waste time on people who need Talk Radio to tell them what to think.

 

[Procrustes Stretched]

Funny, defense spending was higher during the Cold War than during Bush's 2 wars.

Defense spending on new technology and the ability to fight wars on two front.



What front were we fighting a war on?




idiot

Bush can't cut taxes during wartime, because we're spending so much.

Reagan spent more on defense than Bush and cut the top rate from 70% to 28%.

Life just isn't as simple as your pea brain would like.

 

[freedombecki]

I could explain it to you, but you still wouldn't understand... even your Avi looks retarded.

Oh, come on, give me your incorrect, left-wing explanation.

I don't waste time on people who need Talk Radio to tell them what to think.

Dredging up ad hominems in place of debate? It must be awful not knowing what to say to someone who just cleaned your clock.

 

[freedombecki]

Defense spending on new technology and the ability to fight wars on two front.



What front were we fighting a war on?



idiot

Bush can't cut taxes during wartime, because we're spending so much.

Reagan spent more on defense than Bush and cut the top rate from 70% to 28%.

Life just isn't as simple as your pea brain would like.

Too many facts for ya, Dante? Poor libbies go down obfuscating debate defeat with vegan rants when things go poorly for them. I have no idea why that is.

 

[JoeB131]

Oh, come on, give me your incorrect, left-wing explanation.

I don't waste time on people who need Talk Radio to tell them what to think.

Dredging up ad hominems in place of debate? It must be awful not knowing what to say to someone who just cleaned your clock.

He did no such thing. He just did the tired, "Please tell me why we screwed up the economy", which I've already explained to this retard at least twice that I'm bothering to remember..

I have no problem engaging in a discussion. But I'm not going to waste my time on those who cannot be educated.

Do not cast pearls before swine.

 

[freedombecki]

I don't waste time on people who need Talk Radio to tell them what to think.

Dredging up ad hominems in place of debate? It must be awful not knowing what to say to someone who just cleaned your clock.

He did no such thing. He just did the tired, "Please tell me why we screwed up the economy", which I've already explained to this retard at least twice that I'm bothering to remember..

I have no problem engaging in a discussion. But I'm not going to waste my time on those who cannot be educated.

Do not cast pearls before swine.

Gee, Joe, I didn't know you were into quoting the Bible. In our church it's considered pagan to use a scripture with the intention to denigrate someone else.

 

[Procrustes Stretched]

keep it all in one place...

Election Forecasts - FiveThirtyEight Blog - NYTimes.com

Over 80% in Wisconsin...

If the President were to lose Minnesota and gain Virginia...lose Colorado and keep Ohio while gaining NH... I need to go back to Cassidy's map

October 28, 2012
Cassidy’s Count: Can Romney Win Without Ohio?
Posted by John Cassidy

Read more Cassidy's Count: Can Romney Win Without Ohio? : The New Yorker

Ahem........................

If Romney were to carry the state, he would need just four more votes. Winning New Hampshire, which has exactly four votes, or any of the other battlegrounds, would put him across the line. But increasingly, it is looking like Obama will hold onto Ohio. On Friday, three new polls were published, and they all showed the President ahead. American Research Group and Purple Strategies both put his lead at two points; CNN/Opinion Research put it at four points: 50-46. Sources tell me that the two campaigns’ internal polling also have Obama ahead, with Romney’s vote seemingly stalled in the mid-to-high forties.

Read more Cassidy's Count: Can Romney Win Without Ohio? : The New Yorker

 

[Toddsterpatriot]

I could explain it to you, but you still wouldn't understand... even your Avi looks retarded.

Oh, come on, give me your incorrect, left-wing explanation.

I don't waste time on people who need Talk Radio to tell them what to think.

You're too busy listening to Rachel Maddow.

 

[Toddsterpatriot]

Defense spending on new technology and the ability to fight wars on two front.



What front were we fighting a war on?




idiot

Bush can't cut taxes during wartime, because we're spending so much.

Reagan spent more on defense than Bush and cut the top rate from 70% to 28%.

Life just isn't as simple as your pea brain would like.

Tell me again how much lower our taxes are now compared to the past. LOL!

 

[JoeB131]

Dredging up ad hominems in place of debate? It must be awful not knowing what to say to someone who just cleaned your clock.

He did no such thing. He just did the tired, "Please tell me why we screwed up the economy", which I've already explained to this retard at least twice that I'm bothering to remember..

I have no problem engaging in a discussion. But I'm not going to waste my time on those who cannot be educated.

Do not cast pearls before swine.

Gee, Joe, I didn't know you were into quoting the Bible. In our church it's considered pagan to use a scripture with the intention to denigrate someone else.

Oh, I usually quote scripture to point out how ludicrous and batshit insane most religion is.

And it's pretty easy. There's a whole lot of batshit in the bible that you guys hide in the attic like a crazy aunt. Like God sending bears to maul children when they make fun of bald prophets or Jephthah butchering his own daughter. Stuff I didn't find out about until I became an atheist.

Where were we again?

 

[Procrustes Stretched]

He did no such thing. He just did the tired, "Please tell me why we screwed up the economy", which I've already explained to this retard at least twice that I'm bothering to remember..

I have no problem engaging in a discussion. But I'm not going to waste my time on those who cannot be educated.

Do not cast pearls before swine.

Gee, Joe, I didn't know you were into quoting the Bible. In our church it's considered pagan to use a scripture with the intention to denigrate someone else.

Oh, I usually quote scripture to point out how ludicrous and batshit insane most religion is.

And it's pretty easy. There's a whole lot of batshit in the bible that you guys hide in the attic like a crazy aunt. Like God sending bears to maul children when they make fun of bald prophets or Jephthah butchering his own daughter. Stuff I didn't find out about until I became an atheist.

Where were we again?

"In our church it's considered pagan to use a scripture with the intention to denigrate someone else"

Lions and Tigers and Bears, Oh my!!!!


and this was posted on Halloween. can't make this shit up

 

[Procrustes Stretched]

Cassidy's Count and Dante!!!!