do you guys remember when

evince said:
damo you know they made money by writing sub prime and hiding them in securities buyers did not know contain as much SP as they did.
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I also know that there were fines levied for those who didn't want to write sub-prime loans. That they allowed people to package these things and play hot potato with them doesn't change that.

you know if they had only written as many as the law required it would NEVER have been enough to cause the mess.

please please dont tranish you good name lying for a failed party
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Pretending that the requirement isn't there because they wrote "more" than required is pretense. Just like now with the "we'll fine you if you write bad loans" without defining what is required to count it as a "good" loan makes them fear writing the loans and makes getting a mortgage more difficult, fining people for not writing enough of them without defining "enough" caused them to write more than they would have otherwise.

That it continued over several Presidents so they all could proclaim that "more <insert group here> than ever own homes" doesn't change that this was the foundation of the crisis.
 
The level of sub prime required by the law were NO WHERE near enough to cause this problem.


its a fact guys.


the problem exisisted BECAUSE they gamed the system because Bush made it possible for them to do so by holding back the broker rules for YEARS
 
Pinhead: ...they made money by writing sub prime and hiding them in securities buyers did not know contain as much SP as they did....you know if they had only written as many as the law required it would NEVER have been enough to cause the mess.
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They didn't hide them or do anything against the law or unscrupulous. This is a prime example of those pesky little things we conservatives refer to as "CONSEQUENCES" and the thing that seems to be a total mystery to baffled liberals when they happen. It's the biggest problem with Federal mandates and legislation which interferes with a free market capitalist system. It tends to create all kinds of other problems, which is precisely what happened here. As I said before, John McCain was an outspoken critic of this Frank/Dodd scheme, and you didn't believe what he said would happen as a consequence... but that's exactly what happened!

...And somehow, you've managed to spin this so far, it is now making you sociopaths think that YOU predicted all of this! :eek2: AMAZING!
 
http://www.msnbc.msn.com/id/49289716/ns/business/t/too-late-ny-prosecution-securities-meltdown/


While New York Attorney General Eric Schneiderman alleges massive fraud in mortgage-backed securities in a lawsuit filed this week, he's not criminally prosecuting anyone.

Described as a template for more lawsuits to follow, the move signals that Wall Street players won't face state prison for packaging and selling the troubled investments that nearly brought the U.S. economy to its knees. The felony statute of limitations under New York's Martin Act against securities fraud is five years, so it's too late to bring a criminal case.

The civil suit claims misconduct by Bear Stearns & Co. in 2006-2007 cost investors $22.5 billion in losses and left them holding an additional $30 billion in bad loans. The suit filed Monday names Bear Stearns successor JP Morgan Chase, which says it will contest the allegations.

"The statute of limitations is an issue we expect to be in dispute in the litigation," Schneiderman said in describing the civil suit, noting that even then, it's six years under the Martin Act. That also puts pressure on his office to bring cases soon against other investment banks for actions that led to the 2008 market crash
 
evince said:
go read the old posts in the links I put in the thread
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ok I just did.

Out of the uscitizen discussions with people:

the first link, cawacko briefly mentioned something about california. that was it
the second link, uscitizen was going back and forth with topspin (a liberal), but they weren't engaging in a lot of specifics.
the third link no one was really arguing with him, except again for topspin at a few points.

So by "everyone of you is owned by uscitizen" I guess what you really meant was cawacko for talking about california for 2 seconds, and possibly topspin?
 
why are you denying what you know full well happened.

You on the right defended the Bush economy while me and uscitizen talked about it being a false economy.

You know it happened now admitt it
 
desh I almost never talk about the economy or in depth fiscal stuff. It's not my forte. Am I still everyone?

You told me to specifically go look at your links. As if it were a trove of information of people being foolish and wrong. Your very own links provided nothing of the sort to back up your assertion. Were those the very best links you had to offer in way of showing everyone how wrong we were when most of us weren't even in those threads? Because if so, your claim is sorely lacking. Is it your contention that conservatives on this site never thought a recession would ever happen again in americas future? Please give me your definition of everyone.

Thanks
 
Every hard right con was talking shit to us.

Are you now convinced that tax cuts for the wealthy dont trickle down?

When did you come to that reality?
 
evince said:
http://www.msnbc.msn.com/id/49289716/ns/business/t/too-late-ny-prosecution-securities-meltdown/


While New York Attorney General Eric Schneiderman alleges massive fraud in mortgage-backed securities in a lawsuit filed this week, he's not criminally prosecuting anyone.

Described as a template for more lawsuits to follow, the move signals that Wall Street players won't face state prison for packaging and selling the troubled investments that nearly brought the U.S. economy to its knees. The felony statute of limitations under New York's Martin Act against securities fraud is five years, so it's too late to bring a criminal case.

The civil suit claims misconduct by Bear Stearns & Co. in 2006-2007 cost investors $22.5 billion in losses and left them holding an additional $30 billion in bad loans. The suit filed Monday names Bear Stearns successor JP Morgan Chase, which says it will contest the allegations.

"The statute of limitations is an issue we expect to be in dispute in the litigation," Schneiderman said in describing the civil suit, noting that even then, it's six years under the Martin Act. That also puts pressure on his office to bring cases soon against other investment banks for actions that led to the 2008 market crash
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IF there was fraud and illegality, the President of the United States has the authority to order his Attorney General to pursue it, and some would argue, is mandated by the Constitution to order it... that's his JOB! If the statute of limitations and whatnot are about to run out, and prosecutions haven't taken place yet, who's fault is that, if not Obama's?

The FACT of the matter is, there IS no case, there IS no prosecution, and the AG is on the brink of impeachment over other unrelated matters.

The rest of your story is blather and opinions passing themselves off as facts. You want to somehow make these people be dirty and corrupt law-breakers, when that case hasn't been, and can't be proven in a courtroom, because that is not factually accurate. But instead, you parade around acting like they "got away with it" because the statute of limitations has run out! Who's been president the past 4 years, BUSH?
 
there is no question there was fraud.

Its jsut harder to prosicute since the cons spent so many years denying after the bottom of the scam fell out.
 
evince said:
there is no question there was fraud.

Its jsut harder to prosicute since the cons spent so many years denying after the bottom of the scam fell out.
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Again... The President of the United States, can order his Attorney General, at any time, to bring charges and indictments. Why has he failed to do that in this case? Mean old nasty Republicans aren't preventing the President from speaking to his Attorney General, are they?

evince said:
say Dixie what is with your ultra violent avatar?
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It changes frequently, some are violent, some are disgusting, some are cute, some are funny, some are serious. I do that rather than change my screen name all the time, it's just a thing.
 
avatar27_58.gif


Obviously, I am the guy in the leather jacket... the guy in yellow is representative of whatever pinhead I am beating down, and the two in the back are Damo and Grind, watching in shock... You'll notice Grind on the left, he starts to want to try and jump in and stop it, but thinks better of it. hehe
 
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