Has socialism already failed in Anerica

[Gonzomin]

I must add, Nobody makes bankers do anything they do not want. When the Feds were fixing the crash, the government was forcing the banks to buy up securities to help fix what they created. Some of the bankers refused unless their salaries and bonuses were guaranteed by the government. We were talking a second great depression and they wanted their fucking bonuses. They got them.

 

[Into the Night]

you know nothing about the crash and what caused it.

YALIF.

You just repeat your ignorance and toss in an insult and say what you should be learning from,is a lie.

Lie.

The crash was a creature of bankers and unbridled greed.

Yup. The Fed. Socialism.

It also was abour corruption like bankers paying off the rating agencies,

The Fed did that.

The ratings agencies testified that they were pressured and bribed to AAA rate terrible mortgage-backed investments.

They were. By the Fed.

You must have watched the congressional hearings on that since you think you know something about it.

A bit. When the lies started coming out of them to shift the blame away from government, I stopped watching.

Weren't you upset with that?

Just as usual. Congress displayed a blatant disregard for the truth.

The banker's deeds were made clear in hearings.

Sure they were. Congress was doing everything it could to wash its hands from it.

Their unmitigated greed crashed the world economy.

Greed was certainly a factor, but not the cause, of the crash. The cause was the Fed.

I am sure you watched them testify too.

Yeah. So?

Should we go into swaps?

No need. We both know what swaps are.

That was banks selling insurance on the terrible investment papers they were selling.

Yup. To offload their bad loans onto some other fool, or so they thought. They didn't realize they were building a massive shorting market, and enough people called bullshit and won big.

They sold so much of them, that is was impossible to pay them off is a disaster.

I was possible to pay them off. They DID pay them off. That's what killed so many banks.

Insurance cannot sell more than than the value of investments, but of course, bankers got wavers for that.

No, they didn't. ALL of them were paid off.

You should stop until you actually know something. You are as usual running on empty.

YALIF.

 

[Into the Night]

I must add, Nobody makes bankers do anything they do not want.

Lie. The Fed does.

When the Feds were fixing the crash,

The Fed caused the crash. Then they claimed to 'fix' it.

the government was forcing the banks to buy up securities to help fix what they created.

WRONG. The Fed simply lowered the margin again.

Some of the bankers refused unless their salaries and bonuses were guaranteed by the government.

Lie.

We were talking a second great depression and they wanted their fucking bonuses. They got them.

Lie.
The Great Depression was a direct result of Hoover and FDR. It didn't end until AFTER WW2!

Downturns are normal. The 1929 crash would have corrected itself in a year or two if Hoover and FDR hadn't messed with it. These two are what made the Great Depression Great.

 

[Gonzomin]

Into the Right is showing utter ignorance again. Really knows how to prove a point. Just say "lie: over and over. There might be other rightys who share your tiny knowledge base. Perhaps they think that mess you just posted was a compelling argument. I cannot imagine how,but rightys on this board are running on empty. Just like you.