[ETWolverine]

i agree that there are kooks on both sides, but critizing his economic policies without having having the slighest idea of what economics is makes you sound like akook

Dare,

Leaving aside the BA that I earned in Economics, I have 15 years of real-life experience as a financial analyst for several different banks, including international banks. I deal with economics for a living. It is what I have trained in all my life (or at least the last 20 years of it) and what I do to put food on the table for my family.

I daresay that I have quite a bit more experience in economics and finance than you do, considering that what I do for a living is give economic and financial advice and protect financial institutions from economic and financial risks.

Now... given that information, what is it that YOU believe economics is all about? Please, I would enjoy the breadth of your experience in economics. I would like to know exactly what part of what Obama, Dean, and the rest of the far left have been doing at the economic level it is that you support and why. Perhaps you can educate me and teach me something that I haven't learned about economics yet that you happen to know.

At the very least, it oughta be good for a laugh.

Elliot

[ETWolverine]

ridiculous - Definition from the Merriam-Webster Online Dictionary

NK, do you really want to go there?

[NeedKarma]

Go where? That misspelling is common. I'm just trying to help.

[tomder55]

Oh it was a spelling error. I'm sure I provide a wealth of them . My administrator probably would not go along with a down load of ieSpell.

[ETWolverine]

Go where? That misspelling is common. I'm just trying to help.

My apologies, Karma. I thought that you were challenging my economics background, as Dare was, and that you were stating that his comment WASN'T ridiculous. I misunderstood your post. Again, I apologize.

Elliot

[excon]

I thought that you were challenging my economics background,

Hello El:

What I don't understand, is how you could have such an extensive economic background, and still get it wrong.

You and I don't disagree on the economic ideals. I agree that if left to their own devices, business would act in their own interests, thereby benefiting all those who come into contact with them...

The key to my phrase is "left to their own devices.." In truth, business found that it's easier to rig the game by lobbying congress to make it easier for them to make money, and the congress obliged. No longer do they have to provide goods and services.. They just have to do their accounting right...

Under the new rules, they got "too big to fail".

Therefore, the game has to be DE-rigged for a while to prevent them from ever doing that again. Once that happens, they can go back to being good corporate citizens supplying what we need.

You seem to think we should leave them alone and they'll never do this to us again...

Bwa, ha ha ha.

excon

[ETWolverine]

Hello El:

What I don't understand, is how you could have such an extensive economic background, and still get it wrong.

You and I don't disagree on the economic ideals. I agree that if left to their own devices, business would act in their own interests, thereby benefiting all those who come into contact with them...

The key to my phrase is "left to their own devices.." In truth, business found that it's easier to rig the game by lobbying congress to make it easier for them to make money, and the congress obliged. No longer do they have to provide goods and services.. They just have to do their accounting right...

Under the new rules, they got "too big to fail".

Therefore, the game has to be DE-rigged for a while to prevent them from ever doing that again. Once that happens, they can go back to being good corporate citizens supplying what we need.

You seem to think we should leave them alone and they'll never do this to us again....

Bwa, ha ha ha.

excon

Businesses only lobbied Congress when Congress decided that it had the authority to control business. Without that little event, business would never have lobbied to Congress for anything.

However, all of the Banking Lobbies that I know of and am a member of have been lobbying AGAINST the Community Reinvestment Act for 3 decades. So exactly what did financial institutions lobby for that caused the current crisis? We've been lobbying AGAINST the very governmental programs that caused this mess in the first place.

Which just proves that you haven't a clue what you are talking about, excon. You have simply decided that the Reps are wrong, and facts be damned.

Elliot

[excon]

Which just proves that you haven't a clue what you are talking about, excon. You have simply decided that the Reps are wrong, and facts be damned.

Hello Elliot:

From Wikkipedia:

The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.

Some provisions such as Regulation Q, which allowed the Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm-Leach-Bliley Act.

That Gramm, would be Phil Gramm, Republican who said that we're not really in a recession, we're just a nation of whiners. If John McCain would have won, Gramm would be our treasury secretary.

Bwa, ha ha ha... I really do know stuff after all.

excon

[ETWolverine]

Hello Elliot:

From Wikkipedia:

The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.

Some provisions such as Regulation Q, which allowed the Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm-Leach-Bliley Act.

That Gramm, would be Phil Gramm, Republican who said that we're not really in a recession, we're just a nation of whiners. If John McCain would have won, Gramm would be our treasury secretary.

Bwa, ha ha ha.... I really do know stuff after all.

excon

OK Bigshot.

How does the repeal of Glass-Steigal connect to the downfall of the credit markets and real estate? (Hint: there is no connection between the two.)

You have been hearing left-wing talking points about Glass-Steigal without any understanding of what affect it has or doesn't have on the credit markets. I know that the lefties would LIKE for there to be a connection between them so that they can deflect their own guilt on the subject, but it just ain't so.

So I ask again, what did "big businesses" lobby for that killed the economy?

As for what Gramm said... he's right. Did you hear the woman that, upon the election of Obama, said that she wouldn't have to worry about paying her mortgage, or putting gas in her car? Or the guy that said to Obama at one of his town meetings that he had lost his job, and what was the government going to do for him? The nation IS made up of a bunch of whiners... enough of them that they voted for a guy who they thought would give them whatever it is they are whining for. Gramm was right. We ARE a nation of whiners, and Conservatives want to change that back to the way it was BEFORE we were a bunch of whiners.

Elliot