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Hello:
Congress is throwing us to the wolves. They'd rather DESTROY the other guy than do the work they were sent to do.
I'm WATCHING the battle. I'm READING the prognostications. I'm SEEING the feints and blows. I STILL can't tell who's winning. You?
excon
It doesn't seem to be us that is winning. As of late its been a truly shameful journey in American history. Seems all the politicians are just so worried about embedding rather then working its pityful.
Politicians are winning, they want to keep the same old people with the same old plans in place.
Maybe the President who is successfully demonizing Congress to cover for his own shortcomings. He alternately blames Congress and the American people that his grand plans, drawn up in the minds of ideological eggheads, has not worked ,even though his prescription has a track record of failure .
Who's winning?? Demagoguery is winning.
Barney Frank is winning by getting out before the posse.
It isn't the white working class worker. But the President is firmly on the side of the "1% elites ".
http://www.dailymail.co.uk/news/arti...-educated.html
Hello again, tom:Quote:
Originally Posted by tomder55
Duh! Guess who's justice department is busting pot dispensaries and NOT the banksters??
excon
You don't have a crime unless a law is broken... but Frank and Dodd are getting out of town in a hurry.
Hello again, tom:Quote:
Originally Posted by tomder55
So, because the banksters could write their thievery into law, means there wasn't a crime?? Really?? REALLY??
excon
You really need to read 'Reckless Endangerment '.. it is truly eye opening .
Banksters... hmmm . Seems to me if there were 'banksters ' they can be found in the government run Fed and the public /private establishments called Fannie Mae and Freddie Mac. (and the posse is catching up to Barney Frank)
The Fed secretly gave the banks low interest loans ;to the tune of $1.2 trillion Dec 2008 ,and colluded with the banks to cover this info up from public or Congressional knowledge. This secret loan makes TARP look like chump change.
Fannie and Freddie;but mainly Fannie in collusion with HUD ,and members of Congress like Frank who sat in the oversight committees , were the main movers behind the sub-prime mortgage bubble . Fannie bossess like James Johnson and Franklin Raines made a fortune over this . It was only after these mortgage bundlers started raking it in did the private banks get on board.
Hello again, tom:Quote:
Originally Posted by tomder55
I've NEVER excused the actions of Fannie and Freddie, yet YOU have excused the actions of the banksters at Goldman Sachs and their minions..
Reckless Endangerment indicts ALL of them... Why do want to give the big banks a pass? They're STILL too big to fail... You KNOW what that means, don't you. It means that we WILL bail them out again, or go down with them. That's what too big to fail means. It can't mean anything else. Bailing them out can't be good for YOU and YOUR family. Seems to me that breaking them up WOULD be.
excon
No actually I don't know what 'too big to fail' means . I did not agree the bailouts were the correct course to take. The Fed and clowns like Paulson were protecting their own and sold a bill of goods to the Democrat Congress and President Bush... and of course this secret loan is criminal on a number of fronts... but this is the 1st thing I've seen done by the banks that was (because they told their investors they were on solid ground when in fact they were relying on this secret loan).
Edit... excluding the few insider trading cases that have been in the courts already.
Edit again... had they not received the bailouts and secret loans then that breakup you talk about would already be a done deal. The market would've worked as intended .
Hello again, tom:Quote:
Originally Posted by tomder55
So you want to WAIT till they fail to find out?? Bummer for us. Really. You can't hazard a guess?
excon
Banks have failed before. American Airlines filed today... they will probably surivive after reorganization . What that means is that the banks would've also had to reorganize and perhaps split up . Big deal .
I've said it before... so long as there is deposit insurance for the people who did normal banking then everyone else assumed the risk of investing there . You think their investments are safer today than they were before TARP and secret loans ? Nahh . It was just kick the can down the road ; keep poorly run institutions in operation .
I'll say it again... it was guarantees of bailouts that made banks lose their sense of 'moral hazard ' in the 1st place. Fannie and Freddie led the way knowing that the government was covering their risk taking (heck... the government insisted on it... Andrew Cuomo threatened fines of $10,000 /day for banks that didn't sign onto loose lending standards ) .
You keep on blaming the banks when they were constantly threatened with their own existence if they didn't tow the line and issue credit to people who did not qualify under well tried and true formulas for determing credit worthiness.
Now you will tell me that wasn't the problem it was bundling CDO's etc. And I'll say again that it was Fannie that led the way in that too with the complicity of people on Capitol Hill like Chris Dodd.
Where does that leave us ? TARP and other bandaids have extended the recession . Yeah it may have been bad ,even worse than it was until the dust settled. Then recovery would've already begun. The manipulations and interventions have guaranteed that this will be a lost decade like Japan had... or even worse... a lost decade like the Great Depression largely extended by Roosevelts attempts at central control of the economy.
Grover Norquist is the winner, he beats Trump, and Palin as the GOP kingmaker.
Interesting speculation Tal. I hear Newt is having trouble because he never bothered getting organizations in primary states .He may miss the deadline for filing in Ohio.
Palin has not endorsed yet ,but I hear she is leaning towards backing Santorum.. He may surprise everyone in Iowa. Again ;Newt does not have the precinct organization in place in Iowa... and in a caucus that is critical .
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