Members banned from this thread: Jarod, domer76, Guno צְבִי and Jack |
Hello Celticguy,
I appreciate your individual experience and perspective as it gives reasoning for your view but personal anecdotes are not often indicative of the overall national story. It doesn't take a rocket scientist to know that selling multiple technically already defaulted loans which depend on borrower income going up in 5 years is risking everything on constant future growth - not a wise business model! It was little more than a race to the bottom to see who could crash first. And these are the people who claimed they didn't need existing regulation of their market? What they needed was more oversight, not less.
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
"Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.
It was a Gramm bill that he pushed for years and failed due to Dem resistance. He finally pushed it through and you call it bipartisan. Gramms wife was an Enron exec and they were ruthless in their desire to deregulate. They wanted access to all money in banks,not just investment, but deposits too.
Much comes from overrated Greenspan who was a Libertarian and claimed with enough freedom, bankers would do right in the end.
Remember when he castigated Brooksley Born after she warned them of what they were doing and how damaging it could be? The senators actually laughed at her . She was right.
Last edited by Gonzomin; 07-22-2019 at 01:36 PM.
What we have in America is an oligopoly. Capitalism, like Socialism, does not exist in the real world. None of the so-called socialistic nations in Scandinavia are socialist. They have industry, people working and changing jobs and capitalistic county. They just spend a greater share of the countries revenue on safety nets and improving the lives of citizens.
Phantasmal (07-22-2019)
Last edited by PoliTalker; 07-22-2019 at 06:22 PM. Reason: 'shirting' is now 'shifting'
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
I'm not sure if you are purposefully leaving out that Secretary Treasurer Robert Rubin pushed for this bill along with Clinton signing it (with over a year left in his administration) or are just ignorant to that fact. This bill was the basic definition of bi-partisanship.
"Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.
Interesting, but shallow, the low interest loans on their own didn't cause the fall, it was Wall Street speculation encouraging those loans so that they could quickly wrap them into mortgage backed derivatives, they couldn't buy them up fast enough seeing profits, pure capitalism
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
Oversight is part of their job
How did they just happen to know which institutions to do what with when two weeks before there were no problems at all (as recorded in the Congressional record, not some idle quote) ?How do you know that?
They knew the feces were en route to the rotary oscillator.
"Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.
Hello Celticguy,
Such expansion of government doesn't sound very conservative, not the smallest government possible. Where in the Constitution does it say that Congress enforces the law?
Got it. You've got nothing to back up what you say. It's nothing more than your opinion. Got it.
Personal Ignore Policy PIP: I like civil discourse. I will give you all the respect in the world if you respect me. Mouth off to me, or express overt racism, you will be PERMANENTLY Ignore Listed. Zero tolerance. No exceptions. I'll never read a word you write, even if quoted by another, nor respond to you, nor participate in your threads. ... Ignore the shallow. Cherish the thoughtful. Long Live Civil Discourse, Mutual Respect, and Good Debate! ps: Feel free to adopt my PIP. It works well.
Phantasmal (07-23-2019)
We do not have socialism in the United States. The post office isn't socialism. We have a crony capitalist system with a massive nanny state. That isn't socialism
I am well aware that some Dems bought in. However, you are scraping the barrel looking for Dems that backed a Republican bill. Clinton may have bought in at least partly.But this was a culmination of a long term Repub/Banker belief that the Dems fought for years. Have you found any Repubs who did not back it?
You are illogical. A person or 2 who gave in to a Repub Libertarian concept does not make it theirs. Nor does it place the responsibility on the Dems.
I'm illogical because Bill Clinton signed the legislation? I'm illogical because Clinton had advisers pushing for the legislation? I'm illogical because there were Democrats in Congress who backed it? Ok dude.
And yes, it was a Republican sponsored deal. It was a Republican led Congress. But that doesn't change the above. And it's pretty damn funny to see you say a President holds no responsibility for legislation they sign.
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