I was right about the false two party paradigm. They did it to you AGAIN!!!

[Siete]

Congress also passed a two-day funding measure to give the Senate time to pass the legislation.
Continue reading the main story
With an opportunity to return to a more conventional legislative process — funding the government for a fiscal year rather than for months at a time — Republican leaders had thought they had sufficient bipartisan support to pass the bill. The adopted measure funds the government through Sept. 30, 2015.

 

[g5000]

I would like to publicly apologize to Avorysuds for losing my temper. It was inexcusable. I could have handled that whole situation a helluva lot better.

I was a dipshit.

 

[g5000]

Congress also passed a two-day funding measure to give the Senate time to pass the legislation.
Continue reading the main story
With an opportunity to return to a more conventional legislative process — funding the government for a fiscal year rather than for months at a time — Republican leaders had thought they had sufficient bipartisan support to pass the bill. The adopted measure funds the government through Sept. 30, 2015.

It only funds DHS through February.

More fun times ahead.

 

[Avorysuds]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

When with the ending of the never ending stimulus they need something to prop up the markets. Get ready for the slow slide backwards.

 

[Avorysuds]

I would like to publicly apologize to Avorysuds for losing my temper. It was inexcusable. I could have handled that whole situation a helluva lot better.

I was a dipshit.

You provide the boards good information much of the time so I don't take it as bad as you might think when we disagree =D

 

[Judicial review]

I would like to publicly apologize to Avorysuds for losing my temper. It was inexcusable. I could have handled that whole situation a helluva lot better.

I was a dipshit.

You are probably the only one in the history of this board to apologize for the way you acted.

 

[peach174]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

 

[Judicial review]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

 

[peach174]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

I am female, but the name peach is in honor of my pet cockatiel who's name was peach and died about 4 years ago.
The 174 is added because we have another who is just peach no number.

 

[Judicial review]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

I am female, but the name peach is in honor of my pet cockatiel who's name was peach and died about 4 years ago.
The 174 is added because we have another who is just peach no number.

My grandpa had a bird. He tought it to say, "want a beer?" every time someone would come through the front door. He was a 50 year alcoholic.

 

[Siete]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

I am female, but the name peach is in honor of my pet cockatiel who's name was peach and died about 4 years ago.
The 174 is added because we have another who is just peach no number.

my Grandmother was given an African Parrot (age unknown) when she was 10 years old. My Gran died when she was 88, the parrot died the following year. You would have liked Rita.

 

[peach174]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

I am female, but the name peach is in honor of my pet cockatiel who's name was peach and died about 4 years ago.
The 174 is added because we have another who is just peach no number.

my Grandmother was given an African Parrot (age unknown) when she was 10 years old. My Gran died when she was 88, the parrot died the following year. You would have liked Rita.

Is Rita the Parrot?

 

[Siete]

A bank makes a loan to a homebuyer in the amount of $200,000.

I am a neighbor of the homebuyer and I think he is a dipshit. So I buy an insurance policy (Credit Default Swap) from that same bank that is a bet the homebuyer will default on his loan.

The bank thinks the loan is solid, and so it sells me the insurance policy because they think I am stupid and am giving them free money.

Nine other people also buy insurance policies betting against my neighbor. The bank takes all their bets. Mo' money! Mo' money!

Then my neighbor defaults. How much money has the bank lost?

Instead of losing $200,000 for making a bad loan, the bank has now lost $2.2 million, minus whatever it can recoup by selling the house.

The bank can't absorb that loss, but it has an ace in the hole. The bankers knew all along that if they made a colossal fuckup, they would be bailed out by the government.

This is how derivatives brought down the planet.

After the crash, Dodd-Frank prevented banks which were insured by the government from selling these exotic derivatives like CDS.

This spending bill just removed that barrier.

Happy times are here again for bankers.

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.
It is the two far lefties (Pelosi and Warren) that are not telling the truth about it.
House votes for bipartisan change to Dodd-Frank on bank swaps TheHill
A bipartisan tweak to the Dodd-Frank financial reform law passed the House Wednesday, one that would give banks more flexibility to use complex financial instruments known as swaps to hedge risk.
The House passed the Swaps Regulatory Improvement Act, H.R. 992, in a 292-122 vote that saw 70 Democrats join all but three Republicans. Republicans voting against it were Reps. John Duncan (Tenn.), Walter Jones (N.C.), and Thomas Massie (Ky.).
Section 716 requires financial institutions to push out almost all of their derivatives business into separate entities," said House Financial Services Committee Chairman Jeb Hensarling (R-Texas). "This not only increases transaction costs, which are ultimately paid by the consumers, it also makes our financial system less secure by forcing swap trading out of regulated institutions."
Hensarling noted that the bipartisan bill was passed by his committee in a 53-6 vote back in May.
HR 992
Bill Text - 113th Congress 2013-2014 - THOMAS Library of Congress ::

Serious question - Is the reason why you chose the name peach, because you are female?

I am female, but the name peach is in honor of my pet cockatiel who's name was peach and died about 4 years ago.
The 174 is added because we have another who is just peach no number.

my Grandmother was given an African Parrot (age unknown) when she was 10 years old. My Gran died when she was 88, the parrot died the following year. You would have liked Rita.

Is Rita the Parrot?

Yes Mam.

 

[g5000]

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.

I have frequently said that when it comes to matters which affect the financial services industry, the party letter designation after an elected politician's name is not a reliable indicator of where they come down on the issue. Both parties are in Wall Street's pocket.

 

[g5000]

As for the provision about hedging, it all boils down to what one defines a hedge as. And that is where the system breaks down. Wall Street is going to write its own rules and definitions, and the government will sign off on it with the usual "Well, it only makes sense to let the experts determine all that stuff", which is an open admission of total ignorance and a surrender to Wall Street.

 

[peach174]

No it doesn't. Both parties said the Sec. 716 needed to be tweaked.
It was done by votes from both parties.

I have frequently said that when it comes to matters which affect the financial services industry, the party letter designation after an elected politician's name is not a reliable indicator of where they come down on the issue. Both parties are in Wall Street's pocket.

Yep!

 

[Harry Dresden]

you vote for either major party & you're a dupe PERIOD!!!

Sneak Attack Congress Slips Controversial Measures into Spending Bill - NBC News

The second measure Congress snuck into the spending the bill will be more galling to some, because it amounts to a pay raise for the two unpopular political parties: It raises the $32,400 maximum that donors could give the Democratic National Committee or Republican National Committee to a whopping $324,000 per year, gutting what's left of the McCain-Feingold campaign-finance law. The Washington Post says this was inserted on page 1,599 of a 1,603-page bill (!!!). These two measures -- and probably more like them -- will become law because they were jammed into a must-pass spending bill to keep the government open. Remember all the grumbling about transparency? All the grumbling about gigantic bills that many members of Congress never read? Given that, what happened last night was mind blowing.

You Republicrats must feel pretty foolish about now

nah, the Rw's are too stupid to feel foolish. Being on the long end of their own hypocrisy is one of their favorite things.

you vote for either major party & you're a dupe PERIOD!!!

Sneak Attack Congress Slips Controversial Measures into Spending Bill - NBC News

The second measure Congress snuck into the spending the bill will be more galling to some, because it amounts to a pay raise for the two unpopular political parties: It raises the $32,400 maximum that donors could give the Democratic National Committee or Republican National Committee to a whopping $324,000 per year, gutting what's left of the McCain-Feingold campaign-finance law. The Washington Post says this was inserted on page 1,599 of a 1,603-page bill (!!!). These two measures -- and probably more like them -- will become law because they were jammed into a must-pass spending bill to keep the government open. Remember all the grumbling about transparency? All the grumbling about gigantic bills that many members of Congress never read? Given that, what happened last night was mind blowing.

You Republicrats must feel pretty foolish about now

nah, the Rw's are too stupid to feel foolish. Being on the long end of their own hypocrisy is one of their favorite things.

do you even realize that the dipshit you are agreeing with.....does the exact same thing he is getting on the right about?....well maybe not you are fairly new....

go back to sleep HD, if I need you I'll ring a bell or something.

ok just make sure its not too early in the morning.......

 

[OKTexas]

It's a 1600 page bill that has all kinds of good things in it.

Did you read it, or are you just parroting your favorite partisan media source?

I spoke to my congressman's office to ask how he was voting and why, the lady I spoke to explained why he was going to vote for it and gave me a list of the things that were positive for conservatives. Not the least of which were rolling back provisions of Dodd/Frank and practically defunding the board intended to regulate payments in the ACA. In my book anything that takes money away from maobamacare is a good thing.

 

[OKTexas]

Hey Dot Com, calm down. You spent most of the thread attacking Republicans despite them agreeing the bill is bullshit and so are the Reps that voted for it.What you have not seen is what many of us point out, no libs coming on here to ***** about how Dems let them down.

It's a House bill, passed by a Republican House.

Yet your dear leader and his VP spent a bunch of time on their little phones twisting arms of commiecrats to get it across the line. Go figure.

 

[Dot Com]

Still going to continue voting for one or the other side of the same coin? Rubes.