Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
that is because if you are forced to talk policy you know you lose
as Chuck Prince said, "You had to dance until the music stopped". The Fed easy money stimulative policy was in effect forcing everyone to write as much as possible. If you didn't your competitors won.
Also, it easy to be brain dead Marxist and blame the banks when you could blame homeowners or brokersor human nature or the liberal government most of which was organized to get people into homes the free market said they could not afford.
dear fucking idiot.
what was that SEC release about?
I have no idea, why not tell us, and then tell us why its important?
Your party gamed the system.
it resulted in a fucking huge assed mess
Your party gamed the system.
it resulted in a fucking huge assed mess
no idea why you would say that given that much of the liberal government was organized to get people into homes the free market said they could not afford. Did you think they created Fan Fred Fed FHA, CRA, etc etc because the liberals wanted fewer people to own homes??
The banks could write these trash mortgages they knew would blow up in a few years.
They made money on them up front and then rolled the trash into securities and sold them as GOOD risk mortgages.
They knew full fucking well what they were doing.
and you guys want them protected for WHAT REASON??????
dear fucking idiot.
what was that SEC release about?
I have no idea, why not tell us, and then tell us why its important?
SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
During the derth of regulations determining who could be a broker while these rules were held up purposely by the Bush SEC the banks got JUST WHAT THEY WANTED and were able to hire whomever they wanted to be a broker, they got to train them however they wanted them to perform.
The Bush SEC gamed the GLB act so that the protections designed in it could be stalled.
This is why it got backed by dems and signed by Clinton ( the protections)
This way the right was able to get EVERYTHING they wanted and NONE of the rules they didnt like.
It meant a bank could train whomever they wanted and however they wanted them to sell them.
It meant a broker could no longer lose their liecense by selling a security that did not contain what they claimed it contained ( triple aaa rated mortgages).
In the past a broker who sold trash would lose their carreer.
Not after GLB act passed and Bush SEC held up the broker rules.
Your party gamed the system.
it resulted in a fucking huge assed mess
The conduit of securities bundling did not create the housing bubble, TM.
Those are the facts of life.
Your party gamed the system.
it resulted in a fucking huge assed mess
no idea why you would say that given that much of the liberal government was organized to get people into homes the free market said they could not afford. Did you think they created Fan Fred Fed FHA, CRA, etc etc because the liberals wanted fewer people to own homes??
dear fucking idiot.
please deal wth the facts given you.
tell me why you refuse to do so
Boom goes the dynomite.
you people are idiots
I have no idea, why not tell us, and then tell us why its important?
SEC Votes for Final Rules Defining How Banks Can Be Securities Brokers
Eight Years After Passage of the Gramm-Leach-Bliley Act, Key Provisions Will Now Be Implemented
FOR IMMEDIATE RELEASE
2007-190
Washington, D.C., Sept. 19, 2007 - Ending eight years of stalled negotiations and impasse, the Commission today voted to adopt, jointly with the Board of Governors of the Federal Reserve System (Board), new rules that will finally implement the bank broker provisions of the Gramm-Leach-Bliley Act of 1999. The Board will consider these final rules at its Sept. 24, 2007 meeting. The Commission and the Board consulted with and sought the concurrence of the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision.
During the derth of regulations determining who could be a broker while these rules were held up purposely by the Bush SEC the banks got JUST WHAT THEY WANTED and were able to hire whomever they wanted to be a broker, they got to train them however they wanted them to perform.
The Bush SEC gamed the GLB act so that the protections designed in it could be stalled.
This is why it got backed by dems and signed by Clinton ( the protections)
This way the right was able to get EVERYTHING they wanted and NONE of the rules they didnt like.
It meant a bank could train whomever they wanted and however they wanted them to sell them.
It meant a broker could no longer lose their liecense by selling a security that did not contain what they claimed it contained ( triple aaa rated mortgages).
In the past a broker who sold trash would lose their carreer.
Not after GLB act passed and Bush SEC held up the broker rules.
Your party gamed the system.
it resulted in a fucking huge assed mess
Your party sought this out for decades.
YOU wanted GS dead for years.
You got what you wanted and it fucked EVERYTHING up.
when will you admitt your ideas are complete failures?
