The Political hate for Wall Street makes no sense

[Si modo]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in. Ironically, the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

Yes, they are. But, the brighter ones know that. (The Useful Idiots do not.)

The brighter ones are looking for something else, though - complete trashing of the Constitution so that we can become their socialist utopia.

 

[uscitizen]

That's the whole point. Destroy the engine of American prosperity. These are communists and their tools.

A bit of truth there, but also destroy the leaders of our economic failure.

Housing bubble? Junk mortgage packages? inflated energy prices?
Reducing headcount, offshoring...
Kinda hard to sort the crap out from the good.

 

[Sallow]

The working man isn't losing it all because of big business but because of the democrat government policies. It's not a mystery that this started happening when obama was elected. There is a cause and effect.

 

[Si modo]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in, ironically,. the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

The last time corporations were not regulated was when?

 

[editec]

Even GREENSPAN had to admit (to congress) that the banks had an orgy thanks to his belief that businesses would self-regulate.

Then he pretended to be surprised!

Hang him.

Hang him high.

 

[Sallow]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in. Ironically, the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

What nonsense.

The "Group of people" that could "get us out of this mess" were bailed out mainly by the "OWS". None of them were held responsible for the mess. And many of them caused the mess. And they want to do the same thing again, because they profitted handsomely from the mess.

 

[PredFan]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in, ironically,. the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

Did you bother to read the posts at all or is it a reading comprehension problem you have?

 

[Si modo]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in. Ironically, the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

What nonsense.

The "Group of people" that could "get us out of this mess" were bailed out mainly by the "OWS". None of them were held responsible for the mess. And many of them caused the mess. And they want to do the same thing again, because they profitted handsomely from the mess.

And, the government was incompetent in bailing them out.

But, that's what most Democrats wanted. The rest of us were saying, "Let them fail."

 

[PredFan]

That's the whole point. Destroy the engine of American prosperity. These are communists and their tools.

A bit of truth there, but also destroy the leaders of our economic failure.

Housing bubble? Junk mortgage packages? inflated energy prices?

Kinda hard to sort the crap out from the good.

But the blame for that cannot be laid solely on the doorstep of Wall Street. The bulk of the blame is in Washington going back to Bill Clinton and the GOP Congress, then Wall Street and private individuals who both wanted to make a quick buck, then there is Barney Frank who protected Fanny Mae and Freddy Mac from G.W.Bush who wanted to head off what he saw was a potential disaster.

Wall Street just did what Wall Street does and that's try to make money. They weren't responsible for the rules and regulations that created the environment and eventually led to the crash.

 

[uscitizen]

This^^

There is plenty of blame to go around for the mess we are in, ironically,. the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

The last time corporations were not regulated was when?

The robber baron era?

Ever read about railroads before they were regulated?

The tobacco patch wars?

only 2 examples many many more.

 

[PredFan]

I watched it happen! It was a vicous circle. People started refinancing homes like crazy just to take the cash out. They spent the money on improvements, vacations, new cars, gifts for relatives. They got to feel wealthy for a while. Then they couldn't borrow anymore. That $160,000 home had gone up in value to $750,000. The homeowner took advantage of liar loans and no doc loans to take the equity out. They had a $500.00 a month mortgage when they bought, and now have a $3,500 a month mortgage. They expected to keep refinancing and paying the $3,500 mortgage with new equity money. They ran out of equity money.

That's what happened!

Yet there were people who didn't get suckered. I know people now quite comfortable in their homes. While the housing bubble grew, they just plugged along, never refinanced, just kept on like there was no free money out there. They are okay.

This^^

There is plenty of blame to go around for the mess we are in. Ironically, the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

What nonsense.

The "Group of people" that could "get us out of this mess" were bailed out mainly by the "OWS". None of them were held responsible for the mess. And many of them caused the mess. And they want to do the same thing again, because they profitted handsomely from the mess.

What nonsense. The OWS crowd couldn't bail out a canoe on dry land. They weren't held responsible because they weren't the only ones responsible. But hey, don't let me rain on your blind partisan parade.

 

[uscitizen]

That's the whole point. Destroy the engine of American prosperity. These are communists and their tools.

A bit of truth there, but also destroy the leaders of our economic failure.

Housing bubble? Junk mortgage packages? inflated energy prices?

Kinda hard to sort the crap out from the good.

But the blame for that cannot be laid solely on the doorstep of Wall Street. The bulk of the blame is in Washington going back to Bill Clinton and the GOP Congress, then Wall Street and private individuals who both wanted to make a quick buck, then there is Barney Frank who protected Fanny Mae and Freddy Mac from G.W.Bush who wanted to head off what he saw was a potential disaster.

Wall Street just did what Wall Street does and that's try to make money. They weren't responsible for the rules and regulations that created the environment and eventually led to the crash.

So their greed for more money blinded them. And it will again.
Yes they were to blame, who do you think lobbied the govt for/bought those changes you speak of?

 

[Seawytch]

This^^

There is plenty of blame to go around for the mess we are in, ironically,. the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

Did you bother to read the posts at all or is it a reading comprehension problem you have?

I read just fine thanks. Basically you are saying that we shouldn't be blaming Wall Street for the financial mess THEY created because they are the ones with all the money.

 

[Mr. Shaman]

That's the whole point. Destroy the engine of American prosperity. These are communists and their tools.

George Bush was a COMMUNIST??!!!

​

January 13, 2008​

"The recession-deniers were muzzled by a horrendous last two weeks of December, and the gloom-and-doomers are now out in force. Their key arguments:

* Plummeting housing will now drag down the rest of the economy.

*The "bad debt" problem is not just "sub-prime" folks who should never have have taken out mortgages in the first place. It includes credit card debt, "high quality" mortgages, car loans, and other leverage that have recently become a consumer way of life.

*Pressure on consumers is leading to a reduction in consumer spending (70% of economy), which, in turn, will lead to a reduction in spending by companies that sell stuff to consumers.

*The question now is not "will there be a recession?" but "how bad will it get?"

*The most optimistic forecasts in a NYT gloom-and-doom round-up are for three crappy quarters, regardless of what the Fed does. Less optimistic forecasts suggest that we are, well, screwed.

After blowing the last downturn, we've been worried this one since last summer (see below). We also suspect that, given the importance of housing to the economy and debt to consumer spending, the recession will be deeper and more prolonged than people think."

"U.S. Economy Screwed"​

Tool??

Yeah....that seems appropriate-enough.

​

 

[PredFan]

This^^

There is plenty of blame to go around for the mess we are in. Ironically, the OWS idiots are blaming the group of people who actually could get us out of this mess. They are shooting themselves in the foot.

What nonsense.

The "Group of people" that could "get us out of this mess" were bailed out mainly by the "OWS". None of them were held responsible for the mess. And many of them caused the mess. And they want to do the same thing again, because they profitted handsomely from the mess.

And, the government was incompetent in bailing them out.

But, that's what most Democrats wanted. The rest of us were saying, "Let them fail."

This^^

The left conveniently forgets that. They also like to forget that George Bush saw what was about to happen and attempted to reform Fannie Mae and Freddy Mac but slobbering Barney Frank prevented it.

 

[Si modo]

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

The last time corporations were not regulated was when?

The robber baron era?

Ever read about railroads before they were regulated?

The tobacco patch wars?

only 2 examples many many more.

Exactly. And, since then, we have had regulation.

But, so many don't know that and make idiotic claims that the corporations are not regulated.

They ARE regulated and have been for a century or more.

 

[Full-Auto]

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

Did you bother to read the posts at all or is it a reading comprehension problem you have?

I read just fine thanks. Basically you are saying that we shouldn't be blaming Wall Street for the financial mess THEY created because they are the ones with all the money.

The point is they didnt create it. Our government did. They just participated.

 

[Defiant1]

The working man isn't losing it all because of big business but because of the democrat government policies. It's not a mystery that this started happening when obama was elected. There is a cause and effect.

Really? Which policy? What policy has caused the income inequality in this country?

Please tell us what "income inequality" has to do with anything.

What is the cause and effect?

This is just a red herring to cover people that are envious of the successful.

 

[Si modo]

What nonsense.

The "Group of people" that could "get us out of this mess" were bailed out mainly by the "OWS". None of them were held responsible for the mess. And many of them caused the mess. And they want to do the same thing again, because they profitted handsomely from the mess.

And, the government was incompetent in bailing them out.

But, that's what most Democrats wanted. The rest of us were saying, "Let them fail."

This^^

The left conveniently forgets that. They also like to forget that George Bush saw what was about to happen and attempted to reform Fannie Mae and Freddy Mac but slobbering Barney Frank prevented it.

He and several other Dems.

 

[PredFan]

Why, because they created it? Oh, I forgot...corporations will "self regulate". That's worked so well before.

Did you bother to read the posts at all or is it a reading comprehension problem you have?

I read just fine thanks. Basically you are saying that we shouldn't be blaming Wall Street for the financial mess THEY created because they are the ones with all the money.

Ok, now I understand you better. You're absolutely clueless.

Good luck.