DamnYankee
Loyal to the end
Cuz you say so, 15ppMott.LOL Pwned twice in the same thread! LOL LOL LOL
Cuz you say so, 15ppMott.LOL Pwned twice in the same thread! LOL LOL LOL
Remind me again which administration promoted and then signed into law the repeal of Glass Steagall, which would have prevented the mortgage banks from selling their debts they way they did? And why did they do so? Because it would allow more people to own houses by freeing up more money for lending.If the banks had not sold those loans under the false pretense they were triple A investments they wouldn't have had all that money to loan. If those transactions were government supervised the banks wouldn't have had so much money to loan. If Greenspan had listened to Brooksley Born instead of allowing fraud to proliferate....
First sentence explained: The man who speaks so eloquently of visiting all 50 states and in ignorance about what we believe is a star on a show called "Top Gear" where they regularly drop pianos on cars... They were talking about another "episode" maybe a season where they'd be taking a road trip in all 50 states.First sentence? explain.
Second sentence no makee no sensee. WE are government, we are a republic, 'belief' is for the religious. I was watching a hearing today on autism and its increase on cspan, and the hearing was from OUR government. Is this not good or are you so anti YOUR government that you think business cares about autism or would do anything about it except profit from it. Good people make up government too. 'Benevolence' too is irrelevant if pollutants are causing the sudden increase in autism. Criminal or incompetence is more likely from your good guys. Or in fairness do you distrust them equally. Or are you so blind you think the market will create all good things. See the difference here - actually points back to the OP and the emotional group think of conservatives - I noticed the thumbs up for the non reason from a real gem of a poster. LOL
"Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone." John Maynard Keynes
"The 20th century has been characterized by three developments of great political importance: The growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy." Alex Carey
First sentence explained: The man who speaks so eloquently of visiting all 50 states and in ignorance about what we believe is a star on a show called "Top Gear" where they regularly drop pianos on cars... They were talking about another "episode" maybe a season where they'd be taking a road trip in all 50 states.
Bwarnry was warned that the existing government regulations were being ignored.
Remind me again which administration promoted and then signed into law the repeal of Glass Steagall, which would have prevented the mortgage banks from selling their debts they way they did? And why did they do so? Because it would allow more people to own houses by freeing up more money for lending.
IOW, democratic leadership was right in the thick of the whole mess. And the republicans were right along side them, each vying for the better claim to have helped people buy their homes. Any claims that one or the other party was MORE responsible than the other for the recent financial crisis is nothing less that blind partisan lies.
Also, to clear the lies being told by certain democratic apologists, while the repeal of Glass-Steagall did have an exacerbating effect on the banking crisis, it was the failed mortgages that actually caused the damage. (think about it - would those AAA investments turned out bad if the mortgages hadd NOT failed?) And the rate of failed mortgages was significantly affected by lending regulations, passed by democrats to force lending in lower income brackets and poorer neighborhoods. It's called law of unintended consequences - a factor liberalism is constantly stepping in like a blind man walking through a feed lot.
There weren't any government regulations. At least none addressing the problem that caused the near collapse.
That article regarding Falcon is circa 2004. Perhaps we should look a little further back to the mid-1990s.
Interview with Brooksley Born
Question:How did it happen?
Answer: We had no regulation. No federal or state public official had any idea what was going on in those markets, so enormous leverage was permitted, enormous borrowing. There was also little or no capital being put up as collateral for the transactions. All the players in the marketplace were participants and counterparties to one another's contracts. This market had gotten to be over $680 trillion in notional value as of June 2008 when it topped up. I think that was the peak. And that is an enormous market. That's more than 10 times the gross national product of all the countries in the world.
Question: This was something that you discovered, heard about, came across, back in the mid-1990s?
Answer: Yes. When I was chair of the Commodity Futures Trading Commission [CFTC], I became aware of how quickly the over-the-counter derivatives market was growing, how little any of the federal regulators knew about it.
And also, we were seeing some very dangerous things happening in that market. There were some major fraud cases. There was use of over-the-counter derivatives to manipulate the price of commodities. And there were some spectacular failures by institutions that were speculating in the over-the-counter market with little or no restraint. For example, Orange County, Calif., was brought down, went into bankruptcy because of its speculation, gambling with public money in the over-the-counter derivatives market on interest rate swaps. (Emphasis added)
http://www.pbs.org/wgbh/pages/frontline/warning/interviews/born.html
No government regulation. Simple as that. That's why the government had to bail out the banks.
Follow along here. When someone deposits money in a bank the government insures that money (FDIC) regardless of what the bank does with it. Surely logic and common sense tells us the government should have oversight as to what the bank is doing with the money. The problem was the government didn't have any idea what the banks were doing.
The same with Freddie and Fannie. The government backed their loans believing they had a reasonable idea what money Fannie and Freddie had.
Here's an analogy. Let's say you have a son going off to college and you want to give him a credit card to use so you co-sign for the credit card and set a limit. Let's say, $2,000.
A few months later the credit card company increases the limit to $10,000 because they know you co-signed and you're good for it. Then your son runs up $10,000 in debt. Now you own $10,000. (Incidentally, some CC companies have stopped automatically raising limits. Now one has to ask to have their limit raised.)
The new, hidden financial instruments were nothing short of gambling. And as with all gambling, as I can attest to , the winning streak ends.
[JOHN W. SNOW, SECRETARY, U.S. DEPARTMENT OF THE TREASURY] What is the Administration recommending? Well, we recommend that Congress enact legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related GSEs. Housing finance is so important, it is so far reaching, has such significance to the national economy that we need a strong, world-class regulatory agency to oversee the prudential operations of the GSEs and the safety and the soundness of their financial activities--consistent, however, with maintaining healthy national markets for housing finance, which always has to be a priority.
I am glad to consider the legislation, but I do not think we are facing any kind of a crisis. That is, in my view, the two government sponsored enterprises we are talking about here, Fannie Mae and Freddie Mac, are not in a crisis. We have recently had an accounting problem with Freddie Mac that has led to people being dismissed, as appears to be appropriate. I do not think at this point there is a problem with a threat to the Treasury.
Using ignorance in defense of the "superiority" of liberalism is a poor tactic. The records clearly show that new regulation was proposed by the Bush administration from concern over the housing market - and blocked by Frank and the democrats who "saw no impending crisis"The overriding point is more regulation is needed. It doesn't matter which party started it. As soon as problems are seen they need to be corrected. If the Dems start a program and then the Repubs come into power surely it's the Repub's responsibility to address any problems.
As an analogy when a new person comes on shift to steer a ship he/she doesn't keep going on the same course if correction is needed.
Of COURSE the federal government knew where the money was coming from. They wrote the law repealing Glass Steagall and other bills for the very purpose of creating the cyclic cash flow so more money would be made available for their program of opening housing credit in poor neighborhoods. THEY DESIGNED IT! How could they not know?As for freeing up more money the government had no idea where that money was coming from and the way it was generated. That is/was the problem.
In the article I previously noted it states, "There was also little or no capital being put up as collateral for the transactions." It was a gambling table full of IOUs.
The government was not aware of that because those transactions were hidden.
In short - LIARS about what each philosophy represents, including Haidt and his so-called expose of how to understand why people vote republican. It's just a continuation of the liberal elitist totalitarian attitude that people who think differently than they do and believe in different methods to best keep this country running as smoothly as possible must be "analyzed" for their errant behavior.
From previous debates I think you are not a child and have lived through enough to have a more educated opinion than just calling everyone who disagrees with your assumptions liar. And liberal and totalitarian go together like horse and V8 engine. The one thing Haidt does is he shows clearly where the conservative world view and the liberal differ in video below.
http://www.justplainpolitics.com/showthread.php?t=24890
But in debate things become what they are not and spin and rhetoric and distortion make all things something else. I have been reading how Eisenhower more or less ignored the ultra conservative hawks of those times, but the interesting thing for me was the arguments from the republicans were similar to the arguments that led a less experienced president to invade Iraq in 2003 with consequences that can only be called tragic.
"If by a 'Liberal' they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people -their health, their housing, their schools, their jobs, their civil rights, and their civil liberties -- someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a 'Liberal,' then I'm proud to say I'm a 'Liberal.'" President John F Kennedy
Why do you reactionary right wingers hate America? Why is freedom and liberty just words to you guys? How comes you scream and cry like little spoiled babies when some one actually practices them? Why do you hate working class people? Why do you resent them the same right to earn a lving wage and charge what the market will bear for their work that you have? Why do you lack a social conscience? Why would you rather see poor people starve in the streets? Why do you hate people of color? Why do you insist that they remain second class citizens and resist allowing them equal oppurtunities? Why do you reactionaries want to kill people of color so badly? Why is your solution to any problem with a non-white nation to kill them? Why do you reactionaries fear the outside world so much that you want to build a wall around our country so you don't have to worry about those brown skinned Spanish speaking Mexican or those French speaking people and their foriegn ideas about freedom and liberty? What are you so scared of that you hate them so much?As usual you like to define "liberal" your way. But contemporary liberals have worked tirelessly since FDR to usurp the Constitution. Why do you hate the Constitution?
Why do you reactionary right wingers hate America? Why is freedom and liberty just words to you guys? How comes you scream and cry like little spoiled babies when some one actually practices them? Why do you hate working class people? Why do you resent them the same right to earn a lving wage and charge what the market will bear for their work that you have? Why do you lack a social conscience? Why would you rather see poor people starve in the streets? Why do you hate people of color? Why do you insist that they remain second class citizens and resist allowing them equal oppurtunities? Why do you reactionaries want to kill people of color so badly? Why is your solution to any problem with a non-white nation to kill them? Why do you reactionaries fear the outside world so much that you want to build a wall around our country so you don't have to worry about those brown skinned Spanish speaking Mexican or those French speaking people and their foriegn ideas about freedom and liberty? What are you so scared of that you hate them so much?
There are two words that sum up reactionaries like you and Dixie and Bravo and Webway and Tinhat.
FEAR AND HATE
It must be hard being a coward.
When one uses lies to promote their argument, I will call them lies. If you don't like it, don't lie, and don't use people who do as your references.From previous debates I think you are not a child and have lived through enough to have a more educated opinion than just calling everyone who disagrees with your assumptions liar. And liberal and totalitarian go together like horse and V8 engine. The one thing Haidt does is he shows clearly where the conservative world view and the liberal differ in video below.
http://www.justplainpolitics.com/showthread.php?t=24890
But in debate things become what they are not and spin and rhetoric and distortion make all things something else. I have been reading how Eisenhower more or less ignored the ultra conservative hawks of those times, but the interesting thing for me was the arguments from the republicans were similar to the arguments that led a less experienced president to invade Iraq in 2003 with consequences that can only be called tragic.
"If by a 'Liberal' they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people -their health, their housing, their schools, their jobs, their civil rights, and their civil liberties -- someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a 'Liberal,' then I'm proud to say I'm a 'Liberal.'" President John F Kennedy
This is a central theme of libtards on this board, especially Midcan. Thanks for nailing him....
The problem with Haidt pointing out the differences between liberal and conservative philosophies is he misrepresents both philosophies in pointing out the differences. ...
Joe on voting republican - listen to all you may learn a bit.
One of the best books i have read on topic.
Amazon.com: Deer Hunting with Jesus: Dispatches from America's Class War (9780307339379): Joe…
YouTube- (2 of 5) - Joe Bageant Interview
Absolute balderdash!As usual you like to define "liberal" your way. But contemporary liberals have worked tirelessly since FDR to usurp the Constitution. Why do you hate the Constitution?
Name one FDR program and explain to me how its Constitutional.Absolute balderdash!