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billvon 3,118
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>If these companies are hurting, they should sweating their marketing and investor
>relations people to beg "us" for investment, not compulsory tax bail-out from the
>government.
Ironically the opposite is happening; lawmakers are "sweetening the pot" so more firms will accept the money. Very odd.
>relations people to beg "us" for investment, not compulsory tax bail-out from the
>government.
Ironically the opposite is happening; lawmakers are "sweetening the pot" so more firms will accept the money. Very odd.
kallend 2,148
Quote
The government caused this. A few key politions are the main criminals (in both parties) The very fact that none of them are screaming for Senate and House investigations and hearings is very very telling
Nonsense. That's the old "You're to blame for not preventing me from doing something stupid" defense. The government didn't force anyone to make credit default swaps or trade in other convoluted derivatives.
...
The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
Quote
They will still have to take their losses. Bailout loans won't change that. However, with the bailouts, the companies likely will not fail due to those losses, which would have more dire consequences not only for those companies, but for the entire economy.
If "dire consequences" mean that the banks will not lend any money anymore to a person who works part-time for a minimum wage, and as a result this person will not become a "homeowner" of a 450K property he can never afford, I completely support such "dire consequences".
* Don't pray for me if you wanna help - just send me a check. *
billvon 3,118
>If "dire consequences" mean that the banks will not lend any money anymore to a
>person who works part-time for a minimum wage, and as a result this person will
>not become a "homeowner" of a 450K property he can never afford, I completely
>support such "dire consequences".
"Dire consequences" might mean that no one, not even you, can get a mortgage for any price.
>person who works part-time for a minimum wage, and as a result this person will
>not become a "homeowner" of a 450K property he can never afford, I completely
>support such "dire consequences".
"Dire consequences" might mean that no one, not even you, can get a mortgage for any price.
rushmc 23
it was PART of it. Fair housing bull shit is what is the causeQuoteQuoteNO it did not!!
Nearly everyone who understands economic policy at all disagrees with you.as soon as a statement like this is made all credibility is lostQuoteI have not said that, they participated willingly under the rules given and, as I also posted, they played the part
Right. The corporations lobbied Congress to have the rules changed, and then participated willingly under the new rules given. Those new rules, i.e. deregulation, need to be rescinded.QuoteQuoteI suspect one would be hard pressed to find any prominent (national) politicians that are not tied in any way to key players of corporations that are failing or have failed within the past ten years.
The government caused this.
The government set the financial sector up for failure by repealing important provisions of the Glass-Steagall Act, and thus share responsibility. But, make no mistake, it was poor corporate leadership that caused 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
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rushmc 23
QuoteQuote
The government caused this. A few key politions are the main criminals (in both parties) The very fact that none of them are screaming for Senate and House investigations and hearings is very very telling
Nonsense. That's the old "You're to blame for not preventing me from doing something stupid" defense. The government didn't force anyone to make credit default swaps or trade in other convoluted derivatives.
That is not true. They did but threatened punative actions should they not lend money to those the gove thought they should.
I am not saying the corps did not go overboard but the cause is still the cause
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
kallend 2,148
QuoteQuoteQuote
The government caused this. A few key politions are the main criminals (in both parties) The very fact that none of them are screaming for Senate and House investigations and hearings is very very telling
Nonsense. That's the old "You're to blame for not preventing me from doing something stupid" defense. The government didn't force anyone to make credit default swaps or trade in other convoluted derivatives.
That is not true.
Please provide evidence that the government forced any bank to make credit default swaps or trade in other convoluted derivatives or fancily packaged debt instruments.
...
The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
rushmc 23
QuoteQuoteQuoteQuote
The government caused this. A few key politions are the main criminals (in both parties) The very fact that none of them are screaming for Senate and House investigations and hearings is very very telling
Nonsense. That's the old "You're to blame for not preventing me from doing something stupid" defense. The government didn't force anyone to make credit default swaps or trade in other convoluted derivatives.
That is not true.
Please provide evidence that the government forced any bank to make credit default swaps or trade in other convoluted derivatives or fancily packaged debt instruments.
It can only be corporations for you can it.
Evil profit gathering bastards.
I will see if I can find Clintons speach that addreses what I posted. I do not expect it to make any difference to you. For you the bigger the gov the better, the more regulation the better, the more they tax the better.
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rushmc 23
I found the name "Community Reinvestment Act"
Now I will see if I can find the speach
Link provided but I did not read it all
http://www.thekidalog.com/seejanemom/2008/09/c1992-bill-clin.html
Now I will see if I can find the speach
Link provided but I did not read it all
http://www.thekidalog.com/seejanemom/2008/09/c1992-bill-clin.html
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rushmc 23
http://www.ffiec.gov/cra/
http://tsfiles.wordpress.com/tag/government-engineered-mortgage-crisis/
"Jimmah Carter started the rot that led to the present financial crisis"
http://www.stoptheaclu.com/archives/2008/09/22/jimmah-carter-started-the-rot-that-led-to-the-present-financial-crisis/
From the year 2000
http://www.city-journal.org/html/10_1_the_trillion_dollar.html
Still looking for Clintons threats regarding this bill
http://tsfiles.wordpress.com/tag/government-engineered-mortgage-crisis/
"Jimmah Carter started the rot that led to the present financial crisis"
http://www.stoptheaclu.com/archives/2008/09/22/jimmah-carter-started-the-rot-that-led-to-the-present-financial-crisis/
From the year 2000
http://www.city-journal.org/html/10_1_the_trillion_dollar.html
Still looking for Clintons threats regarding this bill
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rushmc 23
From the last link of the post above
"The Clinton administration's get-tough regulatory regime mattered so crucially because bank deregulation had set off a wave of mega-mergers, including the acquisition of the Bank of America by NationsBank, BankBoston by Fleet Financial, and Bankers Trust by Deutsche Bank. Regulatory approval of such mergers depended, in part, on positive CRA ratings. "To avoid the possibility of a denied or delayed application," advises the NCRC in its deadpan tone, "lending institutions have an incentive to make formal agreements with community organizations." By intervening—even just threatening to intervene—in the CRA review process, left-wing nonprofit groups have been able to gain control over eye-popping pools of bank capital, which they in turn parcel out to individual low-income mortgage seekers. A radical group called ACORN Housing has a $760 million commitment from the Bank of New York; the Boston-based Neighborhood Assistance Corporation of America has a $3-billion agreement with the Bank of America; a coalition of groups headed by New Jersey Citizen Action has a five-year, $13-billion agreement with First Union Corporation. Similar deals operate in almost every major U.S. city. Observes Tom Callahan, executive director of the Massachusetts Affordable Housing Alliance, which has $220 million in bank mortgage money to parcel out, "CRA is the backbone of everything we do."
"The Clinton administration's get-tough regulatory regime mattered so crucially because bank deregulation had set off a wave of mega-mergers, including the acquisition of the Bank of America by NationsBank, BankBoston by Fleet Financial, and Bankers Trust by Deutsche Bank. Regulatory approval of such mergers depended, in part, on positive CRA ratings. "To avoid the possibility of a denied or delayed application," advises the NCRC in its deadpan tone, "lending institutions have an incentive to make formal agreements with community organizations." By intervening—even just threatening to intervene—in the CRA review process, left-wing nonprofit groups have been able to gain control over eye-popping pools of bank capital, which they in turn parcel out to individual low-income mortgage seekers. A radical group called ACORN Housing has a $760 million commitment from the Bank of New York; the Boston-based Neighborhood Assistance Corporation of America has a $3-billion agreement with the Bank of America; a coalition of groups headed by New Jersey Citizen Action has a five-year, $13-billion agreement with First Union Corporation. Similar deals operate in almost every major U.S. city. Observes Tom Callahan, executive director of the Massachusetts Affordable Housing Alliance, which has $220 million in bank mortgage money to parcel out, "CRA is the backbone of everything we do."
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
kallend 2,148
Please provide evidence that the government forced any bank to make credit default swaps or trade in other convoluted derivatives.
...
The only sure way to survive a canopy collision is not to have one.
The only sure way to survive a canopy collision is not to have one.
rushmc 23
The info is out there if you care to look.
Any ideas where I may find a library of Clintons speaches? I think you might be surprised at what he says
Any ideas where I may find a library of Clintons speaches? I think you might be surprised at what he says
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
rushmc 23
QuotePlease provide evidence that the government forced any bank to make credit default swaps or trade in other convoluted derivatives.
Why? That is not what is being talked about here. You want to talk about that stop derailing this thread and start your own.
Mortgages are what we are talking about, if these istruments are part of that then they got the same starting place too
"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln
Nearly everyone who understands economic policy at all disagrees with you.
Right. The corporations lobbied Congress to have the rules changed, and then participated willingly under the new rules given. Those new rules, i.e. deregulation, need to be rescinded.
The government set the financial sector up for failure by repealing important provisions of the Glass-Steagall Act, and thus share responsibility. But, make no mistake, it was poor corporate leadership that caused this.
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