bendog
Diamond Member
Well, what will the gop do to prevent the loan fraud that occurred on W's and Greenspan's watches? That's the question. The dems sought to prevent banks from using Investor funds from buying debt. That is, if you or I buy Goldman Sachs stock, we take the risk GS will lose money and our stock will fall, but we shouldn't be able to buy debt unless that debt is carried on it's books as a totally separate corporate animal. The Gop says "no problemo so long as the debt is adequately capitalized. That didn't work last time because it turned out that every banking house was capitalizing it's risk with stock in OTHER BANKING HOUSES.Reason #84,546 why Trump is moving into the White House next month.With our crumbling infrastructure, there is a lot more that can be done than building the Great Wall of Trump
Projects that actually help Americans
Yeah, like the nearly $1 trillion dollar failed Obama Stimulus bill that contained over 7,000 pieces of DNC-Only DNC-benefitting PORK, that included such 'needed' spending as Millionaire Diane Feinstein's husband getting a no-interest / no-pay-back loan from the tax payers to save his bankrupting business, a grant for a research project studying why the sex life of homosexual Argentinian men is better than heterosexual American men, training alcoholic Chinese prostitutes how to drink more responsible on duty (links to all have previously been posted), and let's not forget the NON-Existent shovel-ready projects that never existed, which Barry was embarrassingly forced to admit to the country. And according to the Congressional Budget office almost no serious 'infrastructure rebuilding projects' were accomplished and the cost of EACH job Barry claimed to have created / saved came to approx. $774,000.
Money DAMN-WELL spent in a bad economy / recession.
Now Trump and Pence are suggesting the same thing, promising that THEIR government spending would be more responsible and productive...because they are trying to convince us that the government can spend your money in a fiscally responsible way...says the guys who belong to the group that spent approx. $500 per hammer in the past.
I don't care who wants to do it, I don't care what politician believes they know how to spend your money better than you do, I am extremely pessimistic , and past performance says no matter who it is they are full of shit.
The Stimulus worked and reversed an economic collapse. The only problem was that it should have been twice as large. That would have enabled a quicker recovery
Only problem was that idiot Republicans insisted on austerity at a time we were trying to rescue the economy
I'm not aware of anything showing the portion of the Obama stimulus going to "shovel ready" projects for short term jobs really made a difference, or much of a difference. Of course that was only a portion of the bill, maybe a third. The feds increased money to states to keep employing cops, nurses, teachers, etc, and that held down unemployment. States have to have balanced budgets. The feds also extended UI benefits, which kept families with unemployed workers in houses and buying stuff, and that was a stimulus with the multiplier effect because every dollar the feds expended went to consumer spending.
The crash was caused by substandard loans being packaged and sold by banks as prime credit debt. Both parties had a role in that. Lenders were allowed to make unsustainable loans and then lie about it to investors buying the loans. But it wasn't because of poor people. Poor people don't crash economies .... because they are poor. LOL
I always love how the right tries to blame poor people for the economic crash. It was loans to poor people that destroyed our economy. In fact, the poor in this country have so little wealth that they wouldn't make a blip
Those mortgages were being packaged for all homeowners. I received 2-3 calls a week urging me to refinance and take advantage of the newfound equity in my home. It was the greedy capitalists that crashed the economy, not the poor people
Looks like we are headed down the same path as Republicans look to gut Dodd Frank