So you think it's the job of the federal reserve to watch over the stock market, not the SEC's? Interesting. False, but interesting.
False again. The president picks and appoints the commissioners of the SEC. The SEC commission who failed to see this crash coming were all appointed by Bush and approved by the republican senate.
lol. I show you exactly why republicans are responsible and you just proclaim it BS even though what I said is 100% factually correct, and you offer no reasoning to back up what you're saying. Typical republican nonsense. When democrats are to blame for the smallest thing you guys are quick to point the finger, but even the most massive and clear conservative fuck up in modern history and then claim that both sides are equally to blame with no reasoning what so ever to back it up. Not buying that at all. Come with reason, or don't say anything at all.
That's because it is their fault. The blame is entirely justified. It wasn't government overspending that caused this crash, it was financial deregulation and failure of regulators to detect the problem. Those are the causes of the problem. Other things may have contributed to the problem making it worse, but you can't deny the real cause of the problem. It's very clear.
Us Guys? You are again lumping me into a class I am not a part of... You cant see past US/THEM... It will destroy this country.
I thought we were talking about this earlier but let me phrase it a different way. Bleeding hearts that feel that a home is right pushed for subprime lending. The fact that anyone could and did get money caused home prices to artificially rise(bubble.) People who shouldn't have had loans unfortunately/ inevitably defaulted in huge numbers (crash.) And now banks feet are held to the fire so getting credit is very difficult even for qualified buyers. Sure fannie & freddie secured these bad mortages but like Nice Ol Bud said, they paid off somebody. Is it any wonder that when the financial reform bill came through; Fannie and Freddie were relieved of any regulations or restrictions?
I find it strange that a company with such strong ties to the government can make political donations and in fact made very large donations to the Democratic party and Barney Frank in particular. It is curious that they were never dragged before congress like the other financial institutions were... Considering they lost hundreds of billions of dollars to date.
You are, you're just pretending it's something different. You blindly defend republican (not conservative, not libertarian, not independent, republican) policy and voting regardless of right or wrong, regardless or effect or public will. You quack like a duck.
I just call it like I see it.
Actually you were talking about the last financial crash. No one is blaming Bush for forty years of American economic inertia, just the last 8.
Fuck yeah man! That's the spirit! Cheers to that!
Well, some do you're right. But subprime lending wouldn't exist with out conservative ideals, specifically financial deregulation becoming reality. This never could have happened before the late 90's. There were laws against it. Laws that republicans undid.
You're correct. But those loans only existed because we deregulated the financial industry to the point where there was no longer consequences for banks handing out bad loans.
I agree that it's overly difficult to get loans, but it's not for the reasons you think. It's a big scam. (a very liberal scam that I highly object to btw) There is a risk free investment scheme for the banks created by Dodd, Frank, and Obama. If you don't know about it let me know and I'll explain it tomorrow when I'm sober.
They were two of the groups doing that, but be honest about it, every mortgage bank in the country was doing the same shit. The reason, no risk for the lenders. Why was their no risk? Financial deregulation. None of this could have ever happened in the 90's.
You said economy not stock market, but I can assure you that its the fed that keeps the stock market from falling.
I absolutely agree with what you said here, but it isn't a republican vs Democrat issue. Its a stupid Government issue. Its a paid off and corrupt government, where most of the Law makers in this country are in the pockets of the big corporations, dems and repubs alike.
I'll fix it, you can keep yours, OK? All I get is the SS I paid into for 50+ years and a small pension, No handouts here. And now the conservative bastards want to stop the COLA, Making me a little poorer. Everytime the cost of living goes up, I get poorer, not exactly what the program was designed to do.
The SS money that you paid in was stolen and spent by the government a long time ago.
I'll tell you where we need regulation...the rating agencies. These mortgages are securitized, rated and then sold. How you package and polish a bunch of turds and call it triple AAA...I don't know...and I've written and pitch book or two for these agencies. Buffet (Obama lover) owns a large stake in Moody's and there had to be some funny business going on to have kept this game going.
How can it be that we are at exact opposites on political idealism, and yet agree on your above statement. What can we do to stem the tide. I am also for reducing government, especially in the "citizen protection" areas. These are just stepping stones to a dictatorship. I was all excited when Obama came in, I actually thought he could make a difference, something akin to Kennedy. Boy was I wrong. The power brokers just racked him up and played 8ball with his ideas, the repubs just stalemated 90% of his agenda and made him a one term president. It will be a miracle, or business as usual if he gets re-elected. I just wonder what the republic will look like if the repubes get full control of the house, senate and the whitehouse. Probably won't be a country worth living in if you make less than 250K. There is nothing I can do to change things. The best thing I can do for me is to quit following politics and enjoy what little of my life I have remaining, unless they take my SS and Pension away, then I'll go postal, it really wouldn't take all that much to set me off. Reducing or eliminating my SS would definently do the trick
Vote Ron Paul (libertarian) even if he runs as a republican again. He has the best fiscal and social policies of anyone I know of currently. I know NoDrama agrees. And the best part is the elites in both parties don't like him cause he doesn't conform to party lines and can't be bought out.