Ask Me Help Desk - Too Big to Jail

You know Ta risk IS insurance company's business. Trust me, I'm no fan of insurance companies - they are a necessary evil - but my point is not about insurance companies, it's about nannies that want to regulate whatever behavior they deem unacceptable, allegedly in large part because of the cost to the system. Where do you draw the line? How do you determine which behaviors are acceptable to ban or punish and why not others?

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Originally Posted by speechlesstx

You know Ta risk IS insurance company's business. Trust me, I'm no fan of insurance companies - they are a necessary evil - but my point is not about insurance companies, it's about nannies that want to regulate whatever behavior they deem unacceptable, allegedly in large part because of the cost to the system. Where do you draw the line? How do you determine which behaviors are acceptable to ban or punish and why not others?

I use to be a capitalist until prices went up more, and faster than my paycheck. I have seen enough crap to recognize bullsh1t from business and government, and see them both as dysfunctional and ineffective. Maybe they are necessary evils. But I draw the line at taking any crap laying down.

So in other words you really don't want to answer the question?

And to my point...

CDC: 110,197,000 Venereal Infections in U.S.; Nation Creating New STIs Faster Than New Jobs or College Grads

That's 110 MILLION, time to start regulating sexual activity.

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I use to be a capitalist until prices went up more, and faster than my paycheck

good thing you don't live in a command and control economy like oh let's say Argentina .Now there's inflation for you . And speaking of inflation ;how can you complain about it when it's government action like the Fed manipulating the dollar value that is chiefly responsible for the US inflation... well that and run away government debt

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Originally Posted by tomder55

...how can you complain about it when it's government action like the Fed manipulating the dollar value that is chiefly responsible for the US inflation....well that and run away government debt

Well now, those details don't fit the agenda. Kind of like how this hits the poor the hardest is one of those details they don't want to discuss. Just give 'em more food stamps!

So some of us have been pointing out to no avail how Democrats had a huge hand in the meltdown by not only incentivizing risky loans but pressuring banks to make those loans. Well, Obama is at it again.

Obama administration pushes banks to make home loans to people with weaker credit

The banks cheated. And got away with it.

Hello again, Steve:

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but pressuring banks to make those loans.

Yeah, that mean old Barney Frank MADE those banks LOSE all their money. Bwa, ha ha ha ha.

Let me bring you back to reality.. If I ran a bank, and the government TOLD me that I had to lend money to people that I KNEW would never pay it back, I'd CLOSE my doors and SAVE the assets of the bank...

But, you're saying, that even though the bankers KNEW they'd go broke, Barney Frank would be mad if they DIDN'T THROW AWAY All THEIR MONEY, so they did...

Makes NO sense to me - no sense at all.

Excon

You're right ex, you make no sense. What part of don't do the same stupid sh!t that got us there do you not understand?

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Originally Posted by excon

Hello again, Steve:

Yeah, that mean old Barney Frank MADE those banks LOSE all their money. Bwa, ha ha ha ha.

Lemme bring you back to reality.. If I ran a bank, and the government TOLD me that I had to lend money to people that I KNEW would never pay it back, I'd CLOSE my doors and SAVE the assets of the bank...

But, you're saying, that even though the bankers KNEW they'd go broke, Barney Frank would be mad if they DIDN'T THROW AWAY All THEIR MONEY, so they did...

Makes NO sense to me - no sense at all.

excon

Here is some good reading if you want to know what really happened :

Bad History, Worse Policy: How a False Narrative About the Financial Crisis Led to Dodd-Frank
By Peter J. Wallison
Amazon.com: Bad History, Worse Policy: How a False Narrative About the Financial Crisis Led to the Dodd-Frank Act (9780844772387): Peter J. Wallison: Books

And if you don't want to read that one ;here is one from the NY Times reporter Gretchen Morgenson

http://www.amazon.com/Reckless-Endan.../dp/1250008794

Let me read your copy, I ain't got 90 bucks to throw away for right wing commentary I can hear on FoxNews.

That's why I posted the alt book assignment . I have read some of the essays that are in the Wallison book ;but Morgenson has been a financial reporter for the Times for years. .

I like the wind down process of Dodd/Frank, but I liked Gless Steagall too. Absence of either would be a mistake. Clinton dropped the ball on Gless/Steagall.

The government dropped the ball when they didn't investigate and gather solid evidence and prosecute. Settlements and no blame was NOT the way to go since the states took the money that taxpayers deserved.

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Clinton dropped the ball on Gless/Steagall.

And I would have no issue with it being reinstated .

So you have no issue with banking regulation?

Please stop it . I have never said there was anything wrong with regulations .There is a lot wrong with excessive burdensome over -regulation. How many times do I have to deal with the nonsense that implies that if I am against over regulation or just plain bad regulation that must mean I'm against any regulation?
Look ,we have had monopoly laws for over a century that should deal with the merger of investment institutions and banks .

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Originally Posted by tomder55

Look ,we have had monopoly laws for over a century that should deal with the merger of investment institutions and banks .

Seems having laws and having them enforced is something different. It is no use having laws that aren't enforced, isn't that why they dropped Gless/Steagall.

Gless/Steagall no the Glass-Steagall Act... yeah the Gramm-Leach-Bliley bill that repealed Glass-Steagall was a bipartisan bill supported overwhelmingly by both parties ,and the Clintoon Adm. (Passed by a vote of 90 to 8 in the Senate )
At the time ,everyone believed it was an antiquated bill.

Here is what some of our leaders said at the time :
"Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,"..."This historic legislation will better enable American companies to compete in the new economy." Clintoon Treasury Sec Lawrence Summers.
"I welcome this day as a day of success and triumph," Sen. Christopher Dodd
"If we don't pass this bill, we could find London or Frankfurt or years down the road Shanghai becoming the financial capital of the world," .... "There are many reasons for this bill, but first and foremost is to ensure that U.S. financial firms remain competitive."Sen. Schmuck Schumer

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Originally Posted by paraclete

Seems having laws and having them enforced is something different. It is no use having laws that arn't enforced, isn't that why they dropped Gless/Steagall. ?

They honestly thought they had gotten past stupid, and were unleashing the economic might of America, but they were wrong, and unleashed greedy b@stards to rape, rob, pillage and plunder the whole freakin' world. Now we can't make 'em stop.

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At the time ,everyone believed it was an antiquated bill.

And now you say you favour returning to that era... I'm sitting here scratching my head and wondering what is it you want

I think he mean't bring back the G/S act, and I agree.

Yes he did say that in the same breath as saying it was antiquated. I'm used to antiquated thinking from Tom but I thought you more progressive

And so now we know exactly who is too big to jail... Jon Corzine.
Corzine off the crook in MF Global probe - NYPOST.com

Guess that $882 thousand bundling job he did for the emperor in 2012 paid off.

Hello tom:

OCCUPY a bank..

excon