deltamrey wrote: The root cause was law passed in 1999 that deregulated the banking industry. Passed by a Republican congress and was veto proof (Clinton could not or did not stop it). Texas Phill Graham was the author (his spuose was also on Enron board). Derivitices based on loans driven by Wall Street was the operative weapon. Much more to follow after the fall 2012 elections.....MUCH more.
BINGO.....the global economy is now totally trashed because those derivatives were packaged and sold off on a GLOBAL basis,the
insidious nature of this fiasco WILL continue because the practice has NOT stopped........GREED is the ultimate reason we are now
in the fubar with NO hope of resolution for many ,many years.JMO
:Whatever: This a-hole can NOT run on his "sucesses" of the last 3+ years, SO it still Bush's fault.
FINE, why haven't you fixed it instead of making it worse you ... :nono: .... {self-censored}
GOPtwin, can you run for office so that we can get a real man in there? We need someone strong that knows how to call out lies to solve our problems. No fan of Obama, but that is not a lie once again, you need to look this word up. If you have points, you will make them better by using words better.
Seems like you are implying that he did not really react and that his last statement was the reason that he did not. I really don't see your point in this thread.
BuyersAgent called it. You likely said the same crap. I knew at around 1 pm on Sept 11, 2001 that most of this would play out and that the economy would crash....simply due to our reactions....almost 3 terms ago.
Yep we can all predend this is a surprise, we all know we are in for 10-20 more years of this crap, min. Most of us will spend the rest of our working lives in this climate and the book was writen 12 years ago, Obama was likely in a garage band.
popcorn eater wrote: GOPtwin, can you run for office so that we can get a real man in there? We need someone strong that knows how to call out lies to solve our problems. No fan of Obama, but that is not a lie once again, you need to look this word up. If you have points, you will make them better by using words better.
Seems like you are implying that he did not really react and that his last statement was the reason that he did not. I really don't see your point in this thread.
BuyersAgent called it. You likely said the same crap. I knew at around 1 pm on Sept 11, 2001 that most of this would play out and that the economy would crash....simply due to our reactions....almost 3 terms ago.
Yep we can all predend this is a surprise, we all know we are in for 10-20 more years of this crap, min. Most of us will spend the rest of our working lives in this climate and the book was writen 12 years ago, Obama was likely in a garage band.
I'm making the point EXACTLY the way I mean to make the point. You're just having trouble acccepting them. He's a f'king politician, he said what he had to say to get elected, and now he is saying whatever he has to say to cover his ass and get elected again. Call it what you want, I know what it is.
FredHayek wrote: And with record gas prices of $5 around the nation, it looks like the Obama recession will continue.
Maybe there is still time to re-start the Keystone pipeline. And green energy was supposed to save us? It still doesn't make sense even with oil above $100 a barrel.
Keystone pipeline be damned - it's time to start building some refining plants to convert the abundant gas and coal resources we have here at home into liquid fuel to keep the cost of a barrel of crude oil where it ought to be.
deltamrey wrote: The root cause was law passed in 1999 that deregulated the banking industry. Passed by a Republican congress and was veto proof (Clinton could not or did not stop it). Texas Phill Graham was the author (his spuose was also on Enron board). Derivitices based on loans driven by Wall Street was the operative weapon. Much more to follow after the fall 2012 elections.....MUCH more.
BINGO.....the global economy is now totally trashed because those derivatives were packaged and sold off on a GLOBAL basis,the
insidious nature of this fiasco WILL continue because the practice has NOT stopped........GREED is the ultimate reason we are now
in the fubar with NO hope of resolution for many ,many years.JMO
You mean the derivatives of the securities that were sold by the federally created, federally chartered and federally guaranteed GSEs as solid gold assets? The securities that were bundled together by those same GSEs looking to pad their bonuses in a manner compliant with the federal requirements that 60% of the loans they bought be ones to lower income households or in federally designated community reinvestment zones? Securities made up of loans that the GSEs were begging the financial industry to make so that they could then purchase on the secondary mortgage market, which it should be pointed out is the sole market that they were chartered by the federal government to operate in and the sole reason the exist at all?
You are only fooling yourself by attempting to blame Republicans delta. The bill passed with broad bipartisan support and was one that Clinton himself was supportive of, which is why he didn't veto it.
It was more than mere greed home - it was a lust for more power that lies at the heart of the current debacle - and that is something that hasn't changed at all. The politicians in Washington were more than happy to let the financial industry get rich in exchange for policies which would purchase more votes from certain segments of the populace. All of the politicians were more interested in adding "highest percentage of home ownership in history" to their accomplishment list on why they deserved to be reelected than they were in their primary obligation to provide for the general welfare of the union.
popcorn eater wrote: GOPtwin, can you run for office so that we can get a real man in there? We need someone strong that knows how to call out lies to solve our problems. No fan of Obama, but that is not a lie once again, you need to look this word up. If you have points, you will make them better by using words better.
Seems like you are implying that he did not really react and that his last statement was the reason that he did not. I really don't see your point in this thread.
BuyersAgent called it. You likely said the same crap. I knew at around 1 pm on Sept 11, 2001 that most of this would play out and that the economy would crash....simply due to our reactions....almost 3 terms ago.
Yep we can all predend this is a surprise, we all know we are in for 10-20 more years of this crap, min. Most of us will spend the rest of our working lives in this climate and the book was writen 12 years ago, Obama was likely in a garage band.
Evidently... according to you... Obama doesn't lie... according to his own Treasury Secretary... Obama is clueless...
For the second year in row, Timothy Geithner admitted before the Senate Budget Committee that President Obama’s budget takes no action to meaningfully reform entitlement programs, putting us on an “unsustainable” fiscal course.
“Even if Congress were to enact this budget,” Geithner said, “we would still be left with–in the outer decades as millions of Americans retire–what are still unsustainable commitments in Medicare and Medicaid.
In fact, Geithner said the same thing about the president’s budget last year.
deltamrey wrote: The root cause was law passed in 1999 that deregulated the banking industry. Passed by a Republican congress and was veto proof (Clinton could not or did not stop it). Texas Phill Graham was the author (his spuose was also on Enron board). Derivitices based on loans driven by Wall Street was the operative weapon. Much more to follow after the fall 2012 elections.....MUCH more.
BINGO.....the global economy is now totally trashed because those derivatives were packaged and sold off on a GLOBAL basis,the
insidious nature of this fiasco WILL continue because the practice has NOT stopped........GREED is the ultimate reason we are now
in the fubar with NO hope of resolution for many ,many years.JMO
You mean the derivatives of the securities that were sold by the federally created, federally chartered and federally guaranteed GSEs as solid gold assets? The securities that were bundled together by those same GSEs looking to pad their bonuses in a manner compliant with the federal requirements that 60% of the loans they bought be ones to lower income households or in federally designated community reinvestment zones? Securities made up of loans that the GSEs were begging the financial industry to make so that they could then purchase on the secondary mortgage market, which it should be pointed out is the sole market that they were chartered by the federal government to operate in and the sole reason the exist at all?
You are only fooling yourself by attempting to blame Republicans delta. The bill passed with broad bipartisan support and was one that Clinton himself was supportive of, which is why he didn't veto it.
It was more than mere greed home - it was a lust for more power that lies at the heart of the current debacle - and that is something that hasn't changed at all. The politicians in Washington were more than happy to let the financial industry get rich in exchange for policies which would purchase more votes from certain segments of the populace. All of the politicians were more interested in adding "highest percentage of home ownership in history" to their accomplishment list on why they deserved to be reelected than they were in their primary obligation to provide for the general welfare of the union.
We actually AGREE on this.........WOW.........I never thought that would occur.
