Since 2009, 88 Percent Of Income Growth Went To Corporate Profits, 1% Went to Wages

[Meister]

What do you disagree with and why?

I put more of the blame on Congress and Senate than I do with any president. They are the ones that come up with this type of legislation. Usually by the money of lobbyists.

The president drives the bus though. And every single president is bought and paid for by the corporations long before he gets anywhere near the Oval Office. If you're planning to run for president you can't do it without massive corporate donations. The bottom line as far as the 2008 economy meltdown was that although a lot of the deregulation that made it possible happened before Bush took office a lot of the stuff that was crucial in causing it -- choosing to basically not regulate the mortgage industry, allowing securities firms to massively lever up their debt:assets ration, blocking the states from using existing laws that would have prevented a lot of the bad lending, etc. -- was due his administration's actions.

As a whole I agree with you. Having said that, on several occassions Bush had said that things aren't looking to good in the housing market, and Congress ignored him on the subject. Bush couldn't have legislated anything to change....it had to take Congress to get the ball rolling.

 

[Raoul_Duke]

I put more of the blame on Congress and Senate than I do with any president. They are the ones that come up with this type of legislation. Usually by the money of lobbyists.

The president drives the bus though. And every single president is bought and paid for by the corporations long before he gets anywhere near the Oval Office. If you're planning to run for president you can't do it without massive corporate donations. The bottom line as far as the 2008 economy meltdown was that although a lot of the deregulation that made it possible happened before Bush took office a lot of the stuff that was crucial in causing it -- choosing to basically not regulate the mortgage industry, allowing securities firms to massively lever up their debt:assets ration, blocking the states from using existing laws that would have prevented a lot of the bad lending, etc. -- was due his administration's actions.

As a whole I agree with you. Having said that, on several occassions Bush had said that things aren't looking to good in the housing market, and Congress ignored him on the subject. Bush couldn't have legislated anything to change....it had to take Congress to get the ball rolling.

Who was in control of congress during the bubble years?

 

[Meister]

The president drives the bus though. And every single president is bought and paid for by the corporations long before he gets anywhere near the Oval Office. If you're planning to run for president you can't do it without massive corporate donations. The bottom line as far as the 2008 economy meltdown was that although a lot of the deregulation that made it possible happened before Bush took office a lot of the stuff that was crucial in causing it -- choosing to basically not regulate the mortgage industry, allowing securities firms to massively lever up their debt:assets ration, blocking the states from using existing laws that would have prevented a lot of the bad lending, etc. -- was due his administration's actions.

As a whole I agree with you. Having said that, on several occassions Bush had said that things aren't looking to good in the housing market, and Congress ignored him on the subject. Bush couldn't have legislated anything to change....it had to take Congress to get the ball rolling.

Who was in control of congress during the bubble years?

2000-2006 republicans
2007-2008 democrats

I've already said that I put the blame on Congress much more than the president. You seem to think that Bush could legislate from the Oval Office.
Bush had stated his concerns about the housing market.
I'm not a republican, but what I'm saying is that it took both sides of the isle to get what we have right now.

 

[The Rabbi]

Yes, the Bush administration regulators. the regulators in charge of regulating the mortgage markets that wrote hundreds of billions of dollars of bad mortgage paper during 2002-8. What part of this don't you understand?

Where did the roots of this problem come from? Surely before Bush ever came into office.

Yes, ever since we started seriously deregulating the economy. The first wave od deregulation under Carter and even Reagan removed a lot of the onerous and actually bad regulation and was a good thing but over the years deregulating markets has become a religion for both parties and especially the GOP, and has basically taken the form of corporate political donors spending billions to have regulations that get in the way of their profit-making removed. Since the SC ruled that corporate political donation is free speech back in the late 70s corporations have increasingly bought all the government that they didn't previously own and in recent years it's led to the 2008 meltdown and the subject of this thread, which is that corporations make basically all the money now.

What major deregulation has been accomplished in the last 10 years? You've been called on this before and shown it is a lie.

 

[Raoul_Duke]

As a whole I agree with you. Having said that, on several occassions Bush had said that things aren't looking to good in the housing market, and Congress ignored him on the subject. Bush couldn't have legislated anything to change....it had to take Congress to get the ball rolling.

Who was in control of congress during the bubble years?

2000-2006 republicans
2007-2008 democrats

I've already said that I put the blame on Congress much more than the president. You seem to think that Bush could legislate from the Oval Office.
Bush had stated his concerns about the housing market.
I'm not a republican, but what I'm saying is that it took both sides of the isle to get what we have right now.

Bush had concerns about Fannie and Freddie along with the rest of the GOP. They wanted to restrict their ability to compete for all the new mortgages that were being written, at a time when mortgage lending was growing and Fannie and freddie were losing market share to Wall Street and the banks. The Bush/GOP position might have had something to do with all the money being thrown at them by Wall Street securities firms and the banks. The Democrats were defending Fannie and Freddie, largely because of all the money that F and F were giving to Democrats. Basically you had a fight for market share going on between F and F and the rest of the mortgage/mortgage securities industry.

 

[Raoul_Duke]

Where did the roots of this problem come from? Surely before Bush ever came into office.

Yes, ever since we started seriously deregulating the economy. The first wave od deregulation under Carter and even Reagan removed a lot of the onerous and actually bad regulation and was a good thing but over the years deregulating markets has become a religion for both parties and especially the GOP, and has basically taken the form of corporate political donors spending billions to have regulations that get in the way of their profit-making removed. Since the SC ruled that corporate political donation is free speech back in the late 70s corporations have increasingly bought all the government that they didn't previously own and in recent years it's led to the 2008 meltdown and the subject of this thread, which is that corporations make basically all the money now.

What major deregulation has been accomplished in the last 10 years? You've been called on this before and shown it is a lie.

I've already posted it and invited you to reply to the specific things I posted. I even reposted the links to the original posts and invited you to click them and then click the quote button on the posts and reply to them. You can do so any time.

 

[The Rabbi]

Yes, ever since we started seriously deregulating the economy. The first wave od deregulation under Carter and even Reagan removed a lot of the onerous and actually bad regulation and was a good thing but over the years deregulating markets has become a religion for both parties and especially the GOP, and has basically taken the form of corporate political donors spending billions to have regulations that get in the way of their profit-making removed. Since the SC ruled that corporate political donation is free speech back in the late 70s corporations have increasingly bought all the government that they didn't previously own and in recent years it's led to the 2008 meltdown and the subject of this thread, which is that corporations make basically all the money now.

What major deregulation has been accomplished in the last 10 years? You've been called on this before and shown it is a lie.

I've already posted it and invited you to reply to the specific things I posted. I even reposted the links to the original posts and invited you to click them and then click the quote button on the posts and reply to them. You can do so any time.

Cop out.
An interview with somebody saying mortgage criteria were watered down is not evidence that Bush deregulated the mortgage industry.

 

[Toddsterpatriot]

Have you got an actual direct link to a cite which backs up your claim that the secretary was paying 30% income tax?

Plenty of actual links when you click...

And it was Buffett's claim she was paying 30%.

You said that Buffet said the secretary was paying 30% income tax. I asked you to provide an actual link to an actual website where i can read that. So far you haven't been able to provide one and i'm betting you can't.

Buffett blasts system that lets him pay less tax than secretary - Times Online

How much did you bet?

 

[Toddsterpatriot]

Who was in control of congress during the bubble years?

2000-2006 republicans
2007-2008 democrats

I've already said that I put the blame on Congress much more than the president. You seem to think that Bush could legislate from the Oval Office.
Bush had stated his concerns about the housing market.
I'm not a republican, but what I'm saying is that it took both sides of the isle to get what we have right now.

Bush had concerns about Fannie and Freddie along with the rest of the GOP. They wanted to restrict their ability to compete for all the new mortgages that were being written, at a time when mortgage lending was growing and Fannie and freddie were losing market share to Wall Street and the banks. The Bush/GOP position might have had something to do with all the money being thrown at them by Wall Street securities firms and the banks. The Democrats were defending Fannie and Freddie, largely because of all the money that F and F were giving to Democrats. Basically you had a fight for market share going on between F and F and the rest of the mortgage/mortgage securities industry.

Imagine how much money the taxpayer would have saved if the Dems weren't keeping Fannie and Freddie running at full steam.

 

[uscitizen]

2000-2006 republicans
2007-2008 democrats

I've already said that I put the blame on Congress much more than the president. You seem to think that Bush could legislate from the Oval Office.
Bush had stated his concerns about the housing market.
I'm not a republican, but what I'm saying is that it took both sides of the isle to get what we have right now.

Bush had concerns about Fannie and Freddie along with the rest of the GOP. They wanted to restrict their ability to compete for all the new mortgages that were being written, at a time when mortgage lending was growing and Fannie and freddie were losing market share to Wall Street and the banks. The Bush/GOP position might have had something to do with all the money being thrown at them by Wall Street securities firms and the banks. The Democrats were defending Fannie and Freddie, largely because of all the money that F and F were giving to Democrats. Basically you had a fight for market share going on between F and F and the rest of the mortgage/mortgage securities industry.

Imagine how much money the taxpayer would have saved if the Dems weren't keeping Fannie and Freddie running at full steam.

And a bubble might have been eased a bunch if the repubs had done something while they had control of both houses and the presidency.

 

[Truthmatters]

Imagine the money we coud have saved if there was no Iraq war?

 

[uscitizen]

Imagine the money we coud have saved if there was no Iraq war?

Yep a war that was at best based on mistakes made by the USA.
At worst was based on deleberate deception by our govt officials.

 

[Truthmatters]

Imgine if they had really kept us safe on 911?

 

[Toddsterpatriot]

Bush had concerns about Fannie and Freddie along with the rest of the GOP. They wanted to restrict their ability to compete for all the new mortgages that were being written, at a time when mortgage lending was growing and Fannie and freddie were losing market share to Wall Street and the banks. The Bush/GOP position might have had something to do with all the money being thrown at them by Wall Street securities firms and the banks. The Democrats were defending Fannie and Freddie, largely because of all the money that F and F were giving to Democrats. Basically you had a fight for market share going on between F and F and the rest of the mortgage/mortgage securities industry.

Imagine how much money the taxpayer would have saved if the Dems weren't keeping Fannie and Freddie running at full steam.

And a bubble might have been eased a bunch if the repubs had done something while they had control of both houses and the presidency.

Done something?
Could you be more specific?

 

[uscitizen]

Imgine if they had really kept us safe on 911?

I doubt that "they" could have prevented that, in all fairness.

Of course if we had not jacked around the people in the middle east for decades perhaps they would not have done the horrible deed?

 

[Toddsterpatriot]

Imgine if they had really kept us safe on 911?

I know, they could have killed or captured Osama in the 1990s.
Why didn't they?

 

[uscitizen]

Imagine how much money the taxpayer would have saved if the Dems weren't keeping Fannie and Freddie running at full steam.

And a bubble might have been eased a bunch if the repubs had done something while they had control of both houses and the presidency.

Done something?
Could you be more specific?

Ohh I will be about as specific as those attacking the dems for keeping Fannie and freddie on "full steam".

Raising interest rates for one thing to slow the bubble.

 

[uscitizen]

Imgine if they had really kept us safe on 911?

I know, they could have killed or captured Osama in the 1990s.
Why didn't they?

Probably because our brilliant "intelligence" types figured they could use him again for our purposes.

 

[Toddsterpatriot]

And a bubble might have been eased a bunch if the repubs had done something while they had control of both houses and the presidency.

Done something?
Could you be more specific?

Ohh I will be about as specific as those attacking the dems for keeping Fannie and freddie on "full steam".

Raising interest rates for one thing to slow the bubble.

I didn't know Republicans were in charge of interest rates.

How does that work exactly?

 

[Toddsterpatriot]

Imgine if they had really kept us safe on 911?

I know, they could have killed or captured Osama in the 1990s.
Why didn't they?

Probably because our brilliant "intelligence" types figured they could use him again for our purposes.

Clinton's "intelligence" guys did that? That's awful!