The Proof this whole mess was the Bush admins fault

evince

evince

Truthmatters
http://www.sec.gov/news/press/2007/2007-198.htm


Washington, D.C., Sept. 24, 2007 - The Securities and Exchange Commission (SEC) and Board of Governors of the Federal Reserve System (Board) on Monday announced the adoption of final joint rules to implement the "broker" exceptions for banks under Section 3(a)(4) of the Securities Exchange Act of 1934. These exceptions were adopted as part of the Gramm-Leach-Bliley Act of 1999 (GLB Act). The SEC and the Board approved the final rules at separate open meetings held on September 19, 2007, and September 24, 2007, respectively.
 
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Poor fool....off your meds again, no doubt.....you might look into in-home nursing care.....

How about that Building 7....strange way that came down, huh ?
And wasn't that a missile that hit the Pentagon ?
 
evince said:
http://www.sec.gov/news/press/2007/2007-198.htm


Washington, D.C., Sept. 24, 2007 - The Securities and Exchange Commission (SEC) and Board of Governors of the Federal Reserve System (Board) on Monday announced the adoption of final joint rules to implement the "broker" exceptions for banks under Section 3(a)(4) of the Securities Exchange Act of 1934. These exceptions were adopted as part of the Gramm-Leach-Bliley Act of 1999 (GLB Act). The SEC and the Board approved the final rules at separate open meetings held on September 19, 2007, and September 24, 2007, respectively.
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Please oh wise one.... DO explain what the above rules did that caused the crash.

Then name the President that signed GLB into law.
 
Why are you refusing to see that the Bill Clinton signed had its protections held up until right after the crash?
 
evince said:
Why are you refusing to see that the Bill Clinton signed had its protections held up until right after the crash?
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Tell us again Desh.... WHAT did the above have to do with the economic melt down?

Are you suggesting the investment banks and retail banks didn't merge until 2007?

Are you suggesting the CDO market didn't explode (in terms of creation numbers) until 2007?

What do you think magically changed in 2007 with the 'final ruling'???
 
They merged before the law was passed.

You know it and I know it.

The rules that gave the investor protections under the law were held up by the Bush SEC
 
How many of the Bad loans were rolled into securities?

Without the proper rules on who sold this crap it was much easier to peddle them off to investors.


Why did it take them YEARS to impliment these safegrauds?
 
Yurt how is it you are failing to understand that they postponed implimenting the protections written into the law?
 
evince said:
How many of the Bad loans were rolled into securities?

Without the proper rules on who sold this crap it was much easier to peddle them off to investors.


Why did it take them YEARS to impliment these safegrauds?
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Tell you what desh....Fannie Mae and Freddie Mac are ROCK SOLID INVESTMENTS as of now.....its all been fixed......sell you house and tv and car invest in Fannie and Freddie....Obama will take care of you....
sell your kids and your husband too.....invest, invest, invest......go get 'em girl......
 
evince said:
Yurt how is it you are failing to understand that they postponed implimenting the protections written into the law?
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how is it you fail to show what effect that had, if any...

and really, you can't expect to be taken serious at all when you blame everything on bush, you just look like a fool
 
Dear idiot.

The people selling the securites that had these bad loans rolled into them were not trained Brokers.

They were just whoever the institution picked to act as a broker.

They would be able to pick some dupe and tell him how to get their clients to buy this or that.

They were employees told to do their jobs this way or that way.

They didnt have to have any idea what the laws were or what was really worth investing in.

They just pushed whatever the company told them to push.


Now do you get it you complete fool?
 
evince said:
They merged before the law was passed.

You know it and I know it.

The rules that gave the investor protections under the law were held up by the Bush SEC
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Tell us Desh.... WHAT protections are you referring to?

Because AGAIN.... NOTHING changed with the final ruling. The rules were in place when Glass Steagall was repealed.
 
evince said:
How many of the Bad loans were rolled into securities?

Without the proper rules on who sold this crap it was much easier to peddle them off to investors.


Why did it take them YEARS to impliment these safegrauds?
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One of the biggest buyers of mortgage backed securities was FANNIE AND FREDDIE. They began buying in bulk (along with others) after the repeal of Glass Steagall.
 
They had untrained brokers selling these products in which they had no idea of what they contained.

They didnt know the laws and were trained by the banks to do whatever the bank told them to do.

They gamed the system and teh Bush admin laid the path for them to do it.
 
evince said:
And were they informed of the shit bags the banks were filling them with?
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LMAO.... you mean the sub prime loans.... similar to the sub prime loans Fannie and Freddie issued?

Yes Desh, Fannie and Freddie knew exactly the types of loans put into the MBS's and CDO's.... they have to. It is required that they do due dilligence.

But again Desh, none of this changes the FACT that they and many other investors were buying these securities LONG before 2007.
 
evince said:
They had untrained brokers selling these products in which they had no idea of what they contained.
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PLEASE... link us up to where you are getting this from Desh.

They didnt know the laws and were trained by the banks to do whatever the bank told them to do.
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Please.... link us to the training programs these brokers went through.

They gamed the system and teh Bush admin laid the path for them to do it.
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Nope... the path was put in place long before Bush ever became President.
 
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