Walstreet Reform - New financial rules might not prevent next crisis

[boedicca]

No, a more apt comparison is saying that Fannie Mae and Freddie Mac contributed to the Financial Crisis.

 

[WillowTree]

what is this administration doing, playing twiddly winks?

Sounds to me like another failed bo policy, he loves to waste time, when the heck is he going to work on jobs, you know that strange philosophy that pays peoples bills

washington – the most sweeping changes to financial rules since the great depression might not prevent another crisis.

Experts say the financial regulatory bill approved by the senate last week, and a similar bill that passed the house, include loopholes and gaps that weaken their impact. Many provisions depend on the effectiveness of regulatory agencies — the same agencies that failed to foresee the last crisis.

new financial rules might not prevent next crisis - yahoo! News

wall

 

[Oddball]

Saying that Hoover was responsible for the Depression because of his activist agenda is as credible as Barney Frank's assertion that the GOP was responsible for the GSEs.

In fact, Hoover's deficits were smaller than most deficits since 1980, his activist policies meek and enforcement virtually nonexistant. It is an argument I hear only from ideologues.

Right...And foolhardy policies like Smoot-Hawley and constant monetary fudging had nothing to do with anything.

Mmmmmmmkay.

 

[The Rabbi]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

 

[Cuyo]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

This just in: You don't know shit about shit.

Why don't you go away, you fucking nuisance? There's not a single individual here who takes you seriously. You're a joke.

 

[The Rabbi]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

This just in: You don't know shit about shit.

Why don't you go away, you fucking nuisance? There's not a single individual here who takes you seriously. You're a joke.

Gee, can't refute what I wrote so you have to go ad hominem. Typical for an idiot like yourself.

 

[Cuyo]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

This just in: You don't know shit about shit.

Why don't you go away, you fucking nuisance? There's not a single individual here who takes you seriously. You're a joke.

Gee, can't refute what I wrote so you have to go ad hominem. Typical for an idiot like yourself.

You wrote nothing, as usual. You wrote a refute of a well-accepted fact backed up by an opinion piece from the WSJ. You've got nothing, in this post an any other. Anyone can google a silly theory and find another dope who agrees with it.

And... You're still a fucking joke, a laughing stock, a tool. It shows.

 

[Oddball]

Here's one that isn't an OP-ed, sir hothead:

Great Myths of the Great Depression [Mackinac Center]

Care to take a stab at refutation with some verifiable evidence and facts, or ya just want to continue with your ad hom shrieking?

 

[Cuyo]

Here's one that isn't an OP-ed, sir hothead:

Great Myths of the Great Depression [Mackinac Center]

Care to take a stab at refutation with some verifiable evidence and facts, or ya just want to continue with your ad hom shrieking?

Oh give it a rest with the indignance, you don't think Rabbi is among the biggest hacks on this fucking board?

But anyway I perused your link briefly (It certainly is an opinion piece) and perhaps I'll read some more later. But here's some for you:

Herbert Hoover's Legacy: Great Depression Goat Inherited Laissez-Faire Economic Policy
Causes of the Great Depression
Untitled Document
Herbert Hoover and the Great Depression

Those are just a few from the first page of a bing search, I could undoubtedly find 300 more for you. They confirm what I said earlier; These "Progressive" policies you speak of took place virtually exclusively in the last year of his administration.

Not saying you should accept every link I post as cannonized fact either; nor should you expect me to do the same for yours'.

But seriously, claiming Hoover, HERBERT FUCKING HOOVER (this is not FDR we're talking about, but Hoover), meddled too much in the ecomony and it is that which excaserbated the Depression - You look ridiculous.

 

[The Rabbi]

Here's one that isn't an OP-ed, sir hothead:

Great Myths of the Great Depression [Mackinac Center]

Care to take a stab at refutation with some verifiable evidence and facts, or ya just want to continue with your ad hom shrieking?

The depth of Cuyo's knowledge on this can be measured in nanometers. He's like Shogun's idiot brother.

 

[Oddball]

But seriously, claiming Hoover, HERBERT FUCKING HOOVER (this is not FDR we're talking about, but Hoover), meddled too much in the ecomony and it is that which excaserbated the Depression - You look ridiculous.

Just because you with your gubmint schooling and pop culture media propaganda on the topic claim that Hoover was hands-off, doesn't make it so...Especially when the historical record shows the very opposite is true.

Both Hoover and FDR made a bad situation far worse than it would have been had they done nothing and let things shake out.

 

[Toro]

Saying that Hoover was responsible for the Depression because of his activist agenda is as credible as Barney Frank's assertion that the GOP was responsible for the GSEs.

In fact, Hoover's deficits were smaller than most deficits since 1980, his activist policies meek and enforcement virtually nonexistant. It is an argument I hear only from ideologues.

Right...And foolhardy policies like Smoot-Hawley and constant monetary fudging had nothing to do with anything.

Mmmmmmmkay.

Smoot-Hawley was terribly bad policy, and the trade wars of the 1930s set in motion the opening of global trade after WWII as the victor nations were determined not to repeat the errors of the prior decade. Tariffs globally dropped from 40% in 1945 to less than 10% by the end of the century as global trade growth outstripped GDP growth. Free trade is a boon to the global economy, and the United States should support it everywhere.

However, the effect of Smoot-Hawley was something like -4% to -8% to US growth. I have the study somewhere and posted it elsewhere in USMB but am too lazy to find it now. Nominal GDP fell by half during the Great Depression, so Smoot-Hawley wasn't the primary driver of the Depression. The primary cause of the Depression is generally accepted to have been driven by the collapse of the banking system and the failure of monetary policy.

 

[boedicca]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

This just in: You don't know shit about shit.

Why don't you go away, you fucking nuisance? There's not a single individual here who takes you seriously. You're a joke.

Well, it's quite clear that you are an excremental expert.

When confronted with historical fact, all you can do is spew insults. That pretty much sums up your case.

 

[Oddball]

Saying that Hoover was responsible for the Depression because of his activist agenda is as credible as Barney Frank's assertion that the GOP was responsible for the GSEs.

In fact, Hoover's deficits were smaller than most deficits since 1980, his activist policies meek and enforcement virtually nonexistant. It is an argument I hear only from ideologues.

Right...And foolhardy policies like Smoot-Hawley and constant monetary fudging had nothing to do with anything.

Mmmmmmmkay.

Smoot-Hawley was terribly bad policy, and the trade wars of the 1930s set in motion the opening of global trade after WWII as the victor nations were determined not to repeat the errors of the prior decade. Tariffs globally dropped from 40% in 1945 to less than 10% by the end of the century as global trade growth outstripped GDP growth. Free trade is a boon to the global economy, and the United States should support it everywhere.

However, the effect of Smoot-Hawley was something like -4% to -8% to US growth. I have the study somewhere and posted it elsewhere in USMB but am too lazy to find it now. Nominal GDP fell by half during the Great Depression, so Smoot-Hawley wasn't the primary driver of the Depression. The primary cause of the Depression is generally accepted to have been driven by the collapse of the banking system and the failure of monetary policy.

It certainly didn't help.

Along with Hoover's monetary voodoo and meddling Smoot-Hawley merely made things worse....Hell, he himself even obliquely admitted as much.

Herbert Hoover's Depression by Murray N. Rothbard

 

[Cuyo]

The myths die hard. Hoover was Pres Bush, sitting by and doing nothing while the Great Depression just happened. It is convenient for leftists. COmpletely false, but convenient anyway.
Five Myths About the Great Depression - WSJ.com

This just in: You don't know shit about shit.

Why don't you go away, you fucking nuisance? There's not a single individual here who takes you seriously. You're a joke.

Well, it's quite clear that you are an excremental expert.

When confronted with historical fact, all you can do is spew insults. That pretty much sums up your case.

Yes, I've been confronted with historical fact that after three years of doing NOTHING, Hoover finally buckled to the pressure of advisors and consituents and began to intervene in the markets, but the damage had already been done.

You cannot rewrite history, or blame it on "Liberal academia" because you desire so strongly for progressivism to be responsible for everything that ails everybody. That part of our history is very well documented.

 

[Oddball]

There you have it....The old and completely unprovable Keynesian "he didn't do enough meddling soon enough" blabbering point.

Was only a matter of time

 

[boedicca]

There you have it....The old and completely unprovable Keynesian "he didn't do enough meddling soon enough" blabbering point.

Was only a matter of time

What he said.

Cuyo - you sorely could use some real education, but that is something one has to seek for oneself under our current regime.

 

[Cuyo]

Seriously, I cannot believe I'm having this conversation with you guys. Like having me outnumbered and repeating the lie over and over you'll somehow become right. I guess bringing up... Oh I don't know, every history textbook I've ever read... Wouldn't do any good, right?

 

[boedicca]

It's not our fault if you've been reading the wrong books.

Just sayin'.

 

[Toro]

It certainly didn't help.

Along with Hoover's monetary voodoo and meddling Smoot-Hawley merely made things worse....Hell, he himself even obliquely admitted as much.

Herbert Hoover's Depression by Murray N. Rothbard

Rothbard? You castigate others for citing Paul Krugman and you post perhaps the most dogmatically ideological economist ever?

What was Hoover's monetary voodoo?