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rushmc

Loss of freedoms under the pretense of?

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> I am just waiting to see who is the biggest player in this.

There's not much question that Phil Gramm played the biggest single part in allowing this to happen. He spearheaded the legislation that:

1) allowed companies to mix investment, commercial banking, and insurance services with none of the regulations that applied to ordinary banking. He was paid over a million dollars by those companies for that one. (Gramm-Leach-Bliley act.)

2) deregulated credit default swaps. These instruments are the primary reason we need to bail out AIG. (Commodity Futures Modernization Act of 2000)




The lowering of the rates was a key too. I guess that brings in Greenspan and Bush for allowing it rather than firing him.

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>>>>>>>>>>>>>>>>Fucking people need to open their eyes. I almost have to wonder if this was not caused on purpose just for the oprotunity to INCREASE the kind of regulation and oversite that caused it in the first place.


And you laugh at 911 theorists? It was caused randomly by opportunists, but would not have been possible without the lowering of the interest rate, that was the catylist.If you think this is random then you really do have your eyes closed


>>>>>>>>>>>>>>>>>>>>>Dodd, Schumer, Obama, Clinton and Carter are in the deepest as of now. I am sure many R's are there too but these guys float to the top.


Love to read independent evidence.Who got the most money from Fannie and Freddie? Might be a good place for you to start you enlightenment


>>>>>>>>>>>>>>>>>And is it all about power, votes and mainly money. And the trail is dam easy to follow if

PEOPLE WOULD LOOK PAST PARTY AND OPEN THEIR EYES!!!!!!


Show us the way to trail.



:D:D

In other words agree with you :D

Your funny, blinded but funny:D


You told us to open our eyes, I said to show us the way..... show us the way Rushy :S

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> I am just waiting to see who is the biggest player in this.

There's not much question that Phil Gramm played the biggest single part in allowing this to happen. He spearheaded the legislation that:

1) allowed companies to mix investment, commercial banking, and insurance services with none of the regulations that applied to ordinary banking. He was paid over a million dollars by those companies for that one. (Gramm-Leach-Bliley act.)

2) deregulated credit default swaps. These instruments are the primary reason we need to bail out AIG. (Commodity Futures Modernization Act of 2000)



And they are a big part of it. As is Greenspan


I agree, why did Bush not fire him as he saw the lowering would cause a mess? Oh, he didn't know, he doesn't know shit about finance? What a surprise and you think Palin is well-qualified?:S

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Did you see this in the proposed text of the bailout?

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Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.



:S:S:S

or this
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Sec. 10. Increase in Statutory Limit on the Public Debt.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.


:SMan that's a really lot of dollars! >:(

Source

Blues,
Dave
"I AM A PROFESSIONAL EXTREME ATHLETE!"
(drink Mountain Dew)

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Did you see this in the proposed text of the bailout?

Quote

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.



:S:S:S

or this
Quote

Sec. 10. Increase in Statutory Limit on the Public Debt.

Subsection (b) of section 3101 of title 31, United States Code, is amended by striking out the dollar limitation contained in such subsection and inserting in lieu thereof $11,315,000,000,000.


:SMan that's a really lot of dollars! >:(

Source

Blues,
Dave


A pile of $1 bills equal to that would stretch to the Moon, and back, and back again.
...

The only sure way to survive a canopy collision is not to have one.

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>Decisions by the Secretary pursuant to the authority of this Act are
>non-reviewable and committed to agency discretion, and may not be reviewed
>by any court of law or any administrative agency.

I like it! So it would be legal for the government to fire everyone in the company and replace them with illegal aliens making $1 an hour. (Or maybe not quite legal, but we'd have no recourse.)

OF course, that's probably being unfair. In the past Paulson (the primary architect of the bailout) been pretty accurate when it comes to planning for the future:

Paulson, April 2007: I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.

Paulson, May 2007: That correction was inevitable; that correction has now been significant. We think it is near the bottom. It will take a while to work its way through the system. Fortunately for us, we have a very diverse, healthy economy. There are other things that are positive that are offsetting that. . . . …So my very strong view is that we are near the bottom and that this will be contained as — the housing will be contained, and we’re fortunate that we have a diverse, healthy economy.

Paulson, August 2007: There’s a wake-up call, and there’s an adjustment to this repricing of risk, but I see the underlying economy as being very healthy.

Paulson, October 2007: I have no interest in bailing out lenders or property speculators.

Paulson, May 2008: The worst is likely to be behind us.

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>Decisions by the Secretary pursuant to the authority of this Act are
>non-reviewable and committed to agency discretion, and may not be reviewed
>by any court of law or any administrative agency.

I like it! So it would be legal for the government to fire everyone in the company and replace them with illegal aliens making $1 an hour. (Or maybe not quite legal, but we'd have no recourse.)

OF course, that's probably being unfair. In the past Paulson (the primary architect of the bailout) been pretty accurate when it comes to planning for the future:

Paulson, April 2007: I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.

Paulson, May 2007: That correction was inevitable; that correction has now been significant. We think it is near the bottom. It will take a while to work its way through the system. Fortunately for us, we have a very diverse, healthy economy. There are other things that are positive that are offsetting that. . . . …So my very strong view is that we are near the bottom and that this will be contained as — the housing will be contained, and we’re fortunate that we have a diverse, healthy economy.

Paulson, August 2007: There’s a wake-up call, and there’s an adjustment to this repricing of risk, but I see the underlying economy as being very healthy.

Paulson, October 2007: I have no interest in bailing out lenders or property speculators.

Paulson, May 2008: The worst is likely to be behind us.



Don't be hard on Paulson. We were told just last week by a presidential candidate that "The fundamentals of our economy are strong,"
...

The only sure way to survive a canopy collision is not to have one.

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This is not about the law, this is about corprate ethics, the oxymoron. Point is, these CEO's would snake what they can until the light is on them.



No, you are wrong.

Who is getting the most money from this?

Answer this question with names. Please
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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What facts, the ones like Bush and his friends have become rich under his kingdom? I'm thinking so, which is why you get so angry.



the only reason I would think of getting angry is when people try and put words in other peoples mouths. And also make shit generalization type bull shit comments like this that have no backing are are just a stupid emotional response to loosing the white house two times in a row.

The nuttiness will be bigger if/when Obama looses cause he cant loose, the election of Obama can only be stolen:S



What words in who's mouth?

Generalizations? Like the ones where you insist there must be a bunch of dems in this mess that conspirred along with the R's?

Again, why so angry? Bad timing? This will certainly wake up any fence-riders to see the McSame disaster comming.


I have named names and I have data to back up the money they recieved.

YOU say Bush admin and his cronies. OK,,WHO Name em
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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> I am just waiting to see who is the biggest player in this.

There's not much question that Phil Gramm played the biggest single part in allowing this to happen. He spearheaded the legislation that:

Quote



Yes you did list two bills, but only one had names attached now didnt it.

Nice try

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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>Did you see where Clinton administration people are saying this bill had
>nothing to do with it?

I listed two bills. Gotta read before replying. And since when do you listen to the Clintons?



Just pointing out how your hero says you are wrong. More to the point, those in his admin.

Grahams bill had nothing (or very dam little.) to do with this mess.

You and the dems need to make it seem that evil and greedy corps caused this mess. While they were greedy and did not fight it (but many of them did not get into this) it was the gov and the laws passed that caused this. Until you stop refusing to see this only more regulation that will cause yet another mess will come of it. But that is OK with you. As long as those in the gov come out clean[:/]
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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More to the point sir. From the Washington Post

"One, Democrats in good standing supported the final bill. Robert Rubin and Larry Summers, Clinton Treasury officials whom Obama relies on for advice, supported it. Joe Biden voted for it, it passed the Senate with 90 votes, and President Clinton signed it. Heaven knows, Washington can make bipartisan mistakes, but if the bill were so obviously the road to financial perdition, presumably some of these Democrats much keener to regulate the economy than Gramm would have voted "no.""

http://www.nypost.com/seven/09232008/postopinion/opedcolumnists/democrats_ridiculous_scapegoat_130324.htm
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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"Republican anger at ‘financial socialism’"


http://www.ft.com/cms/s/0/cdfbdcb6-89a3-11dd-8371-0000779fd18c.html

Do I agree with all that is proposed?
No, but I will conseed some to get the best possible...
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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>Grahams bill had nothing (or very dam little.) to do with this mess.

His bill allowed exactly what led into this mess.

Republicans are, once again, hoping that most people are fools, and cannot remember history. Unfortunately for them, people have access to better and better histories nowadays (via the net) - which is why the vast majority put the blame squarely on the republicans. That's not quite fair, since there is plenty of blame to spread around, but anyone who claims "poor Phil Gramm had NOTHING to do with this!" can be proven false by anyone with a PC and an internet connection.

Indeed, the GOP is having a problem with honesty lately. When even Karl Rove warns republicans to stop lying so much - you know it's getting bad.

>t was the gov and the laws passed that caused this.

Nope. Foolish investors caused this. The government did play a role in removing some of the restrictions on that foolish behavior.

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>Grahams bill had nothing (or very dam little.) to do with this mess.

His bill allowed exactly what led into this mess.

Republicans are, once again, hoping that most people are fools, and cannot remember history. Unfortunately for them, people have access to better and better histories nowadays (via the net) - which is why the vast majority put the blame squarely on the republicans. That's not quite fair, since there is plenty of blame to spread around, but anyone who claims "poor Phil Gramm had NOTHING to do with this!" can be proven false by anyone with a PC and an internet connection.

Indeed, the GOP is having a problem with honesty lately. When even Karl Rove warns republicans to stop lying so much - you know it's getting bad.

>t was the gov and the laws passed that caused this.

Nope. Foolish investors caused this. The government did play a role in removing some of the restrictions on that foolish behavior.



Well, Rubin does not even agree with you. Nor do I or most who are looking into this
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

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