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rdean
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How can you laugh at your own nonsense. Trying to get people to live in houses didn't crash the economy. And you can't prove it.Wall Street un-reform
The bill includes language repealing part of the Dodd-Frank Wall Street reform law that will allow banks covered by the Federal Deposit Insurance Corporation to directly engage in derivatives trading.
This set off the biggest political storm for the legislation, as Sen. Elizabeth Warren (D-Mass.) led a liberal insurrection against the White House, which decided not to fight Republicans over the measure.
Wall Street lobbied for the change, and the bill will be sent to Obama with the language in it.
What the 1.1 trillion spending bill contains TheHill
Don't you get it? It was "derivatives trading" from the deregulated economy under Bush that gave us the recession and brought down the world economy. It wasn't enough for the GOP. They will do anything to "finish the job" started under Bush.
ROFLMNAO!
Banks selling derivatives didn't crash the economy... The Left coercing the financial markets to replace sound lending principle with the Left's perverse notions of "Fairness" and Federally guaranteeing that idiocy, crashed the economy.
The "Fairness Policy" forced a run on Mortgages, inevitably driving the value of the underlying property beyond the means of the markets to sustain such. The Derivatives came out of the certainty that without spreading those duds across the markets, the Federal Government was going busted.
Understand, the Financial Markets are LOADED with greedy Relativists... who had no problem loaning money to people with no means to service the debt, because the FEDERAL GOVERNMENT GUARANTEED THOSE INEVITABLE LOSSES.
I say open those banks up and let the relativists sell whatever they want... but in so doing, educate the public that any money they place with those banks who reject sound lending principle, is as good as gone the second they put it in those banks. Then when those banks fold up, hold accountable the executives who made poor decisions which predictably cost people their savings and investment gains... strip them of their property and freedom based upon their failure to bear their responsibilities. Then, allow those who they screwed, to visit them in prison... and kick the living hell out of them visiting day after visiting day, for the rest of their natural lives.
In fairly short order, the whole thing will work itself out... people will come along who recognize, respect, defend and adhere to the natural principles that define America and they will replace the Relativists and, prosperity will return to the US.
(Although none of that will likely happen until after the catastrophic consequences of allowing Leftist to participate in government is burned out of the US... . )
This is what actually happened:
The GOP deregulated banks and the insurance industry "HOPING" that fewer regulations will spur the economy. What happened is that banks sold houses to anyone with a dime, bundled the mortgages together and sold them overseas as "securities" insuring the hell out of them. When people couldn't pay, the insurance companies had to pony up the funds to cover the securities which is what we identify as "derivatives".
Which is why, stupid fuck, the insurance companies WENT OUT OF BUSINESS.
You can't blame poor people. That's just plain shitty. You didn't even mention the insurance companies. I can prove everything I said and have several times. It's recent history. But what you said is ignorant, right wing bullshit from people who refuse to even acknowledge how their disastrous policies brought down the world economy. No wonder they want to do it again. Their lack of taking responsibility for their failed policies keeps them from learning anything of value. The government wasn't responsible for those ridiculous loans, the banks were. Which is why the Government had to bail out the banks. If the government was at fault, the banks wouldn't have been in danger of folding. Come on. It only happened a few years ago. Republican deregulation happened with the GOP held both houses and the presidency under Bush. What is it you think they were doing? They can always get some Democrats to vote with them because there are conservative Democrats.There are NO liberal Republicans. None. Zero. Zip.