Wall Street Declares War on Warren

Discussion in 'Politics' started by georgephillip, Sep 11, 2019.

  1. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    "The idea was to free markets from economic rent ('unearned income') in general,

    No unearned income under communism, eh comrade?
    Not much earned income either.
     
  2. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    what money is. And what money is not.

    upload_2019-9-15_11-47-20.jpeg
     
  3. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    I don't fully understand the legalities of who "owns" the deposits in a bank. Is it the depositors or the bank?

    The bank now owns the $20 you deposited.
    You own the checking account balance of $20.
     
  4. georgephillip
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    georgephillip Platinum Member Supporting Member

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    Drain the swamp?
    [​IMG]
     
  5. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Clamp down on derivatives, reinstate Glass Steagall. You'll massively decrease risk,

    Derivatives had very little to do with bank losses in 2008.
    Glass Steagall would not have restricted bad mortgage writing.
     
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  6. Mac1958
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    Mac1958 Diamond Member

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    holy crap
    .
     
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  7. georgephillip
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    georgephillip Platinum Member Supporting Member

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    Actually, banks were too big under Glass-Steagallo_O

    Fact Check: Did Glass-Steagall Cause The 2008 Financial Crisis?

    "The biggest banks are a lot bigger than they once were, mostly because of mergers and acquisitions. What's not in dispute is that changes to Glass-Steagall allowed the biggest banks to grow bigger, which has raised new concerns about risks to the financial system.

    "At issue is the 'too big to fail' problem: Will the federal government once again be forced to come to the aid of federally insured megabanks that have taken outsize risks with their money?"

    Isn't it shameless how capitalism loots the public sector in order to create a small number of vast and private fortunes?
     
  8. georgephillip
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    georgephillip Platinum Member Supporting Member

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    What role did unregulated derivatives play in 2008 bank "losses"
    [​IMG]
    "The real cause of the 2008 financial crisis was the proliferation of unregulated derivatives during that time. These are complicated financial products that derive their value from an underlying asset or index. A good example of a derivative is a mortgage-backed security."

    How Derivatives Could Trigger Another Financial Crisis
     
  9. Natural Citizen
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    Natural Citizen Platinum Member

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    Ya know what it really is, Toddster? I'll tell you. It's not that Warren is in any way conservative. It's that Wall Street is just as leftist.

    And I don't even really like to use the term leftists. But I have to because most in the electorate have shortcomings in definitions and understanding of what kinds of policies we actually have going on.
     
  10. Mac1958
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    Mac1958 Diamond Member

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    You're wasting your time. They don't know this stuff.

    The official talk radio line is the CRA, a law signed in 1977, and somehow responsible for the whole thing 30 years later.

    That's all they know. Derivatives, CDOs, CMOs, fraud, synthetics, swaps, ratings agencies, mortgage companies, Greenspan, that's all fake news.
    .
     
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