Stop blaming the banks for the meltdown!!!

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The t- partiers CNBC- generated, refrain :D . The t- party is blaming the poor even though the banks lobbied to have 20:1 cash on hand ratio's for their gambling. Where was that douche- Santelli when Bu$h II was handing out trillions?

Try reading a book cons. I read this one late last year: The Big Short: Inside the Doomsday Machine [Book]
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker.
I'm currently reading this one: Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History [Book]
A brilliantly illuminating and darkly comic tale of the ongoing financial and political crisis in America The financial crisis that exploded in 2008 isn't past but prologue. The grifter class-made up of the largest players in the financial industry and the politicians who do their bidding-has been growing in power, and the crisis was only one terrifying manifestation of how they've hijacked America's political and economic life. Matt Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing account yet written of this ongoing American crisis.
The banks succeeded, through their lobbying efforts and their TeeVee channels to make the t- partiers think its the poor- black and mexican's faults :eusa_doh: :eusa_shhh: :lol:

CNBC & Fox are playing you people like the stooges that you are :(

 
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Dont Taz Me Bro

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Are you seriously suggesting that someone who buys a house they can't afford has absolutely no responsibility for their predicament whatsoever?
 
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Are you seriously suggesting that someone who buys a house they can't afford has absolutely no responsibility for their predicament whatsoever?
The financial institutions didn't care. Why do you think they were signing foreclosure notices w/ auto-pens :eusa_eh: They got their fee's and their riding high as ever at the expense of t-party 'merka. The demand for luxury goods and the stock market are "managing" ;) Wall St thanks you. These are the same people Boehner is referring to as the "job-creators" LOLOL
 

Dont Taz Me Bro

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Are you seriously suggesting that someone who buys a house they can't afford has absolutely no responsibility for their predicament whatsoever?
The financial institutions didn't care. Why do you think they were signing foreclosure notices w/ auto-pens :eusa_eh: They got their fee's and their riding high as ever at the expense of t-party 'merka. The demand for luxury goods and the stock market are "managing" ;) Wall St thanks you. These are the same people Boehner is referring to as the "job-creators" LOLOL
You're dodging my question.
 
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I remember Bu$h II touting "merkin home ownership" to all who would listen. The politicians are complicit in fleecing you little people too. They work for the banks, not for the people.

Sep 2, 2004 – The text of President George Bush's speech at the Republican .... Thanks to our policies, home ownership in America is at an all- time high.
 
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Are you seriously suggesting that someone who buys a house they can't afford has absolutely no responsibility for their predicament whatsoever?
The financial institutions didn't care. Why do you think they were signing foreclosure notices w/ auto-pens :eusa_eh: They got their fee's and their riding high as ever at the expense of t-party 'merka. The demand for luxury goods and the stock market are "managing" ;) Wall St thanks you. These are the same people Boehner is referring to as the "job-creators" LOLOL
You're dodging my question.
That'll be because the honest answer is a tad inconvenient and would require criticism of the party!

Party before country is the acceptable way of the Democrats now.
 
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I never expected a coherent response from Randians.
 

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[ame=http://www.amazon.com/Reckless-Endangerment-Outsized-Corruption-Armageddon/dp/0805091203]Amazon.com: Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon (9780805091205): Gretchen Morgenson, Joshua Rosner: Books[/ame]
 

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I never expected a coherent response from Randians.
Right. And Obama is not trying to single out B of A, Right. You are here to throw stones, not to reason.

You might try a coherent premise if you are seeking a coherent response.
 
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Good on you if you read that. I'm on my 2nd book about the financial shenanigans which ONLY hurt the middle-class and poor. This is a non-partisan issue. Its more about the top 5% and everybody else. The first book i read is by this guy:
http://en.wikipedia.org/wiki/Michael_Lewis
He went on to work with New York art dealer Daniel Wildenstein, and tried unsuccessfully to find a finance job. He enrolled in the London School of Economics, and received his Masters in Economics in 1985.[1][2] Lewis was hired by the Salomon Brothers and moved to New York for their training program. He worked at their London office as a bond salesman. He resigned to write Liar's Poker and become a financial journalist.
 
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Good on you if you read that. I'm on my 2nd book about the financial shenanigans which ONLY hurt the middle-class and poor. This is a non-partisan issue. Its more about the top 5% and everybody else. The first book i read is by this guy:
Michael Lewis - Wikipedia, the free encyclopedia
He went on to work with New York art dealer Daniel Wildenstein, and tried unsuccessfully to find a finance job. He enrolled in the London School of Economics, and received his Masters in Economics in 1985.[1][2] Lewis was hired by the Salomon Brothers and moved to New York for their training program. He worked at their London office as a bond salesman. He resigned to write Liar's Poker and become a financial journalist.
Doesn't it make sense to you that the Puppet Masters will the interest, power, and will, to protect their assets?
 

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this is great great book in that it correctly places blame largely on liberal government; specificially Fanny/Freddy which were created to interfere with the Republican free market.

No liberal would now dare say that Fanny Freddie was not the elephant in the room after reading this book!! Case closed.

Wall Street was merely a symptom rather than a cause. Liberalism was the cause.
 
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this is great great book in that it correctly places blame largely on liberal government; specificially Fanny/Freddy which were created to interfere with the Republican free market.

No liberal would now dare to say that Fanny Freddie was not the elephant in the room after reading this book!! Case closed.

Wall Street was merely a symptom rather than a cause. Liberalism was the cause.
They were followers my Randian friend.
FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy | iWatch News
There’s a problem with this narrative: The numbers tell a different story.

The evidence indicates Fannie and Freddie contributed to the mortgage meltdown, but they played a secondary role to Wall Street. Wall Street firms and the mortgage lenders they bankrolled led the growth of the market for subprime loans and other risky mortgages.
If your interested. Taiibi tears apart Rand starting on page 41 of his book "Griftopia" ;)
 
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Brutus

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the financial shenanigans which ONLY hurt the middle-class and poor.
how absurd!! All the share holders (owners) of , for example Merryl Lynch lost virtually 100% of their money!! Same for owners of the other banks that went under or were absorbed by others. Don't mean to rock your little liberal world.
 
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the financial shenanigans which ONLY hurt the middle-class and poor.
how absurd!! All the share holders (owners) of , for example Merryl Lynch lost virtually 100% of their money!! Same for owners of the other banks that went under or were absorbed by others. Don't mean to rock your little liberal world.
and those people didn't do the proper Randian thing & save any money as a buffer? :eusa_hand: You know how much Wall St Xmas bonus' generally are? Many of those people have also been absorbed into bigger and bigger banks thanks to republicorp watering down the Financial Regulation law. The Randians even want to repeal it no less :cuckoo:
 

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Republican free market? Are you crazy? We have plenty of good things going for us, but don't ever claim we are not big government regulators or super rewarders to our crony capitalists. All of which has to come to an end.
 

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the financial shenanigans which ONLY hurt the middle-class and poor.
how absurd!! All the share holders (owners) of , for example Merryl Lynch lost virtually 100% of their money!! Same for owners of the other banks that went under or were absorbed by others. Don't mean to rock your little liberal world.[/QUOTE]

and those people didn't do the proper Randian thing & save any money as a buffer?
subject was whether they were hurt. You were wrong, they were in fact hurt, so you are trying to change subject to saving????


You know how much Wall St Xmas bonus' generally are? Many of those people have also been absorbed into bigger and bigger banks
you said only poor were hurt. I corrected you by saying millions of relatively rich owners of some of the major Wall Street institutions were wiped out!! Many rich employess lost their jobs. Even a survivor like B of A is letting go of 30,000 employees. Sorry!!



thanks to republicorp watering down the Financial Regulation law. The Randians even want to repeal it no less :cuckoo:
Actually it was liberals who created Fanny Freddie specifically to get houses for those the Republican free market would not provide houses to. Surely you are catching on now?
 

uscitizen

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this is great great book in that it correctly places blame largely on liberal government; specificially Fanny/Freddy which were created to interfere with the Republican free market.

No liberal would now dare to say that Fanny Freddie was not the elephant in the room after reading this book!! Case closed.

Wall Street was merely a symptom rather than a cause. Liberalism was the cause.
They were followers my Randian friend.
FactWatch: Fannie and Freddie were followers, not leaders, in mortgage frenzy | iWatch News
There’s a problem with this narrative: The numbers tell a different story.

The evidence indicates Fannie and Freddie contributed to the mortgage meltdown, but they played a secondary role to Wall Street. Wall Street firms and the mortgage lenders they bankrolled led the growth of the market for subprime loans and other risky mortgages.
If your interested. Taiibi tears apart Rand starting on page 41 of his book "Griftopia" ;)
80% of the subprimes were written by unregulated buisinesses.
 

Brutus

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Republican free market? Are you crazy? We have plenty of good things going for us, but don't ever claim we are not big government regulators or super rewarders to our crony capitalists. All of which has to come to an end.
are you trying to say the Republican free market is crazy????
 

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Are you seriously suggesting that someone who buys a house they can't afford has absolutely no responsibility for their predicament whatsoever?
The financial institutions didn't care. Why do you think they were signing foreclosure notices w/ auto-pens :eusa_eh: They got their fee's and their riding high as ever at the expense of t-party 'merka. The demand for luxury goods and the stock market are "managing" ;) Wall St thanks you. These are the same people Boehner is referring to as the "job-creators" LOLOL
in Africa they hunt monkeys by hollowing out a hole in a tree.then they place a piece of fruit inside the tree .the monkey sticks his hand into the hole and grabs the fruit ,but with his hand around the fruit his hand is to large to pull out of the hole !! so the poor ape freaks out !! then a negro with a club walks up to the ape and bashes his stupid greedy brains out !! all the monkey had to do was let go of the fruit and his hand would have been small enough to pull out of the hole, but it's greed for something yummy overwhelmed common sense so the animal died !! when you finance something you need to use common sense and not get caught with payments you can't handle !! GREEDY MONKEYS CAUSED THE CRASH !! :lol::lol::lol:
 
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