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Occupy Wall Street: Not on major media but worth watching!
- Thread starter Anti
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Because it's not illegal to sell turds to bundlers. Freddie and Fannie package mortgages but lenders piled up such confusing junk, F&F's risk software didn't mitigate properly
It's all here, posted for information and posterity. You just keep ankle biting for 50 pages and bury the info that would answer your questions just fine, w/o all your toilet paper.
It's all here, posted for information and posterity. You just keep ankle biting for 50 pages and bury the info that would answer your questions just fine, w/o all your toilet paper.
at least now you admit F&F backed junk bundles...
just excuse it by saying the government is not capable of mitigating risk if they get "confused" by it?
yes it is all here like 3 pages back(only 39 in the entire thread) where i posted from F&F's websites when they started guaranteeing bundles with subprime junk(an actual documented change in policy)earning previously untouchable junk into a rated "investments"
you and i dont really disagree on solutions (funny enough) our real disagreement is in causation/continuation.
but im much less interested in carrying party water so i get it
just excuse it by saying the government is not capable of mitigating risk if they get "confused" by it?
yes it is all here like 3 pages back(only 39 in the entire thread) where i posted from F&F's websites when they started guaranteeing bundles with subprime junk(an actual documented change in policy)earning previously untouchable junk into a rated "investments"
you and i dont really disagree on solutions (funny enough) our real disagreement is in causation/continuation.
but im much less interested in carrying party water so i get it
Not the corporate sides of F&F, the government backs mortgages. The corporate sides buy and sometimes bundle what lenders sell. The lending industry stopped rating buyers and their loan instruments were too complex for software to rate. Add insult to injury when lenders stopped rating buyers as opposed to originating only 'approved' loans.
Nobody excuses mistakes. God, make english your primary language and comprehend it. Or get the hair out of your hump that invents others' arguments.
The only thing you 'get' is what you imagine.
Nobody excuses mistakes. God, make english your primary language and comprehend it. Or get the hair out of your hump that invents others' arguments.
The only thing you 'get' is what you imagine.
and thats the deal right there!
ill never convince DB the government's actions are a big part of the problem(Eg:F&F)as he will never convince me that moving back 10 years in regulatory structure is the answer.
but if it gets us and others thinking/researching on their own it's worth the typing.
i think DB gets a little emotional over it sometimes but thats people...
Hmmm,
Fanny & Freddy weren't too confused to calculate multi-million dollar bonuses for themselves.
Fanny & Freddy weren't too confused to calculate multi-million dollar bonuses for themselves.
the president on the economic crisis saying "this doesn't require radical changes to america or it's way of life" is the heart of the problem.
the american people have been stuck on stupid for way to long and for this country to work we damn sure need radical changes to america and our way of life!
credit can no longer be our default method of swapping for goods and services(did you see what i did there?!?!?)
thinking the easy living big spending credit based culture can continue unabated is ludicrous!
the american people have been stuck on stupid for way to long and for this country to work we damn sure need radical changes to america and our way of life!
credit can no longer be our default method of swapping for goods and services(did you see what i did there?!?!?)
thinking the easy living big spending credit based culture can continue unabated is ludicrous!
"I'll bet a BJ in the Oval Office would look pretty damn good right about now, huh?"
well too little or too much gold is the investment factor after all... guess people keep forgetting that.
NO MASS JUSTICE, NO PLANETARY PEACE!
TAX THE MASS-RICH!
"Sooner or later, you have enough mass." - Barack Obama
"No planet gets massive on its own!" - Elizabeth Warren
"Hey, I'm not massive. I'm for equal distribution of mass." - Micheal Moore
D
dramamine
"I'll bet a BJ in the Oval Office would look pretty damn good right about now, huh?"
Yeah, thanks for NAFTA and massive federal deregulation...it's worked out really well.
Yeah, he had a hand in NAFTA. WS dereg was a veto-proof majority in Congress. Not signing the bill would have been inconsequential. Not signing would have log jammed other legislation.
That was a presidential lame duck period and Congress, not the presidency led the majority to veto-proof status. Clinton doesn't point this out as much as do economists and historians.
D
dramamine
I was thinking especially of the Financial Services Modernization Act of 1999, signed on his way out the door. Sure, it wasn't his Congress, but if he was against it, don't you think he would have promoted public awareness of what was going on? It was a pretty defining moment considering the near impunity it gave banks and investment companies, etc. There was never a reason to think the result would be good for the country. Clinton should have been kicking and screaming, shouldn't he? The reality is that he had political debts to pay back, just as all our politicians have.
Plus, he took the radio airwaves from the public and handed them over to ClearChannel by deregulating the broadcast market with the Telecommunications Act. Radio used to be awesome...
Hell of a diplomat, though...
I
Iron_Lion
so is this shit still going on or did everyone go home yet?
I think we're referencing the same thing. FSMA is the Gramm Leach Bliley Act which repealed Glass Steagall Act which is what effectively deregulated WS.
Never really found out whether Clinton was for or against. I neither credit nor discount his signature on a bill that would have passed without it. Phil Gramm envisioned all this restructuring for decades as an economics professor in Houston. Late 90s provided the opportunity.
Can't say I ever saw Clinton promote or deride FSMA but his Treasury Secretary Robert Ruben was a big proponent. Wouldn't be surprising if it influenced Clinton.
Wasn't suggesting Clinton had political debts to pay. I suggested if there was any other legislation he wanted passed, vetoing super-majority bills probably wasn't a good way to go about it. Clinton had vetoed other bills that didn't enjoy super majorities, not to mention he wasn't too well liked by the opposition. Sometimes the wave is too big for the executive.
That said, he has to shoulder the blunders if he wants credit for the good. I agree with you, he should have screamed from the rooftops. Bernie Sanders, John Dingle and a few others sounded alarms that weren't heeded.
Clinton watched domestic manufacturing evaporate and knew part of the conventional employment sector looked grim. Come to think of it, I remember something about 'consumers having more market options' or something like that. But IMO, he wasn't a cheerleader like the bill sponsors. Either way, Clinton still deserves the blame. I just wish I knew a little more of the considerations he had to make.
care to digress?
http://m.cnn.com/primary/_v09aEx-isLfPZ3lXM#page3
Evicted....
When they are allowed to come back no more slumber party.
Someone has just got themselves a shitload of donations to take home.
What like 900k so far
Evicted....
When they are allowed to come back no more slumber party.
Someone has just got themselves a shitload of donations to take home.
What like 900k so far
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