Can you name the Keeting 5?
- Thread starter Jarod
- Start date
cawacko
Well-known member
Why so many dumb posts today?
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The Almighty
1) It is the KEATING five.
2) The Senate ethics committee (under a DEM controlled Congress) found what? That McCain had used poor judgement but that he had done nothing wrong.
Thanks for once again putting forth complete shit today. I shall rename thee... Jollie2.0
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The Almighty
Once again with this tired old shit Desh? The GLB bill certainly helped the problem, but it in no way is what gave it to us. The Fair Lending act of 1995 did far greater damage to the system. Glass Steagall was dismantled slowly from 1992 on. Your precious Dems are every bit as culpable in this mess.
evince
Truthmatters
http://www.nationalmortgagenews.com/premium/archive/?ts=1034092803
October 8, 2002
Gramm Joining UBS; LaFalce to SEC Panel?
Sen. Phil Gramm, R-Texas, a one-time chairman of the Senate Banking Committee, is joining UBS Warburg as its vice chairman. Sen. Gramm, who will retire early next year, co-authored the Gramm-Leach-Bliley Act, which eliminated legal barriers that separated banks from securities firms. A frequent critic of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, Sen. Gramm will be joining a firm that has made quite a bit of money the past two years off the mortgage market, especially in regard to subprime lending/securitization. Meanwhile, the ranking Democrat on the House Financial Services Committee, Rep. John LaFalce, D-N.Y., is being considered for a seat on a newly created federal board to oversee the accounting industry. Rep. LaFalce, who is retiring, was contacted by the Securities and Exchange Commission, which is putting the panel together.
October 8, 2002
Gramm Joining UBS; LaFalce to SEC Panel?
Sen. Phil Gramm, R-Texas, a one-time chairman of the Senate Banking Committee, is joining UBS Warburg as its vice chairman. Sen. Gramm, who will retire early next year, co-authored the Gramm-Leach-Bliley Act, which eliminated legal barriers that separated banks from securities firms. A frequent critic of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, Sen. Gramm will be joining a firm that has made quite a bit of money the past two years off the mortgage market, especially in regard to subprime lending/securitization. Meanwhile, the ranking Democrat on the House Financial Services Committee, Rep. John LaFalce, D-N.Y., is being considered for a seat on a newly created federal board to oversee the accounting industry. Rep. LaFalce, who is retiring, was contacted by the Securities and Exchange Commission, which is putting the panel together.
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The Almighty
It did not actually become a problem until interest rates were lowered to 40 year lows Desh. It was the interest rate environment that allowed people to "afford" more home with the 3-4% interest on the short term ARMs and interest only loans.
Had interest rates not dropped so low and been kept low for so long, this would not have happened.
Bottom line Desh, it was a culmination of many events. The beginning back in 1992, the Fair Lending act of 1995, the GLB bill in 1999, the 40 year lows in interest rates.... all this led to the ability for the lenders and borrowers to let their greed run free....
Again, this is not to say that their weren't any shady loans etc... I imagine there were, but the dismantling took place over a decade, it did not happen with the GLB alone.
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The Almighty
Yes, AND????
The joining of banks and securities firms was certainly a part of the problem, but it was simply one of many things that led us to where we are today.
evince
Truthmatters
http://www.ft.com/cms/s/0a655408-01.../justplainpolitics.com/showthread.php?t=10011
Ex-UBS chief pushes for bank’s break-up
By Peter Thal Larsen and Chris Hughes in London and Haig Simonian in Zurich
Published: April 3 2008 23:40 * Last updated: April 4 2008 09:30
UBS, the embattled Swiss bank that has been Europe’s main casualty of the credit crunch, is facing a fresh assault after a former chief executive launched an activist campaign to break it up and overhaul its board.
This guy sure thinks its the problem
Ex-UBS chief pushes for bank’s break-up
By Peter Thal Larsen and Chris Hughes in London and Haig Simonian in Zurich
Published: April 3 2008 23:40 * Last updated: April 4 2008 09:30
UBS, the embattled Swiss bank that has been Europe’s main casualty of the credit crunch, is facing a fresh assault after a former chief executive launched an activist campaign to break it up and overhaul its board.
This guy sure thinks its the problem
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None, absolutly none of this should matter when it comes to McCain... But I am ready to fight dirty with dirty. They are attacking Senator Obama for silly stuff, like what a former pastor at his church has said... so...
McCain will get it for just as stupid stuff, apperantly it works with the American people!
"Poor Judgement" is that what we want out of another American President?
cawacko
Well-known member
You are on a board with political junkies who have stong political opinions. You are not talking to some voter on the street who pays atttention to politics a couple of times a year.
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The Almighty
Then you assuredly are not voting for Obama right?
I mean surely you wouldn't suggest he used good judgement when using drugs..... would you?
I know you are simply playing ignorant lawyer word games, but just in case I am wrong in that.... there is not a single person on this planet that hasn't used poor judgement at one time in his or her life. Not one. It is what the person does AFTER using poor judgement that matters. Do they learn from their mistake and try not to repeat it? If so, then they are like Obama and McCain. Both of whom learned from their life lessons. It doesn't make either of them perfect or suggest that they won't make other mistakes in their lives. But it does show their character.
But please, continue on with your ignorant little games.... they are quite amusing.
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The Almighty
Thanks Bill Clinton.... Bill Clinton fucked the economy. It was all Bill Clinton. Had he not signed the GLB bill into law none of this would have happened. It is all Bill Clintons fault.
Clintons fault
Clintons fault
Dems fault
See how ignorant this type of bullshit is Desh???
Using poor judgement while acting as a member of the United States Sennate is one thing. Using poor judgement in your personal life like trying drugs is quite another.