A "report card" on Trump's tax scam......

[Lesh]

Still with this zombie lie?

https://www.mcclatchydc.com/news/politics-government/article24504598.html

No it was not F&F that caused the banking debacle

 

[g5000]

You should ask some of those questions to the House, they are the ones who set the budget. just sayin'.....

Yes, the Republican-held House; the ones who did all this damage with the Tax Scam.

the Democratic House has been in power since January and get zero blame, because Turtle Mitch is the Grim Reaper who won’t allow any House bills to come to the Senate floor.

Gotta get it through congress, which the dems hold. Can't blame Mitch, yet.

Mitch McConnel is holding up 400 bills passed by the House and boasting about it.

McConnel should be expunged, tarred and feathered, and run outta town at the 2020 election.

As Trump Complains Democrats ‘Do Nothing,’ McConnell Holds Up 400 Bills - The National Memo

As Trump Complains Democrats ‘Do Nothing,’ McConnell Holds Up 400 Bills
Oliver Willis September 28, 2019
SHARE
mccconnell, trump
Donald Trump, lashing out over the continued revelations about his attempts to solicit foreign election help, slammed the Democrats on Friday as a “do nothing” party for their decision to move forward on impeachment.
“The Democrats are now to be known as the DO NOTHING PARTY!” he wrote.
At almost the precise moment Trump made those comments, Democrats were holding a press conference to highlight some of their legislative accomplishments so far this year.
Speaker Nancy Pelosi and her fellow House members used their weekly press conference Friday morning to note that it had been 200 days since they had passed H.R. 1, the For the People Act.
H.R. 1 passed on March 8 and has yet to be scheduled for a vote by Senate Majority Leader Mitch McConnell.
Pelosi mocked McConnell for describing himself as the “Grim Reaper” in holding up bills with popular backing and touted that the legislation is still active.
“You may think this is dead, over there, Grim Reaper — what a nice thing to say about yourself — but it is alive and well in the public,” said Pelosi. “And the people know, and they will know more, that you are holding this up.”
The bill was the Democrats’ first piece of legislation after winning control of the House last November and was given its historically significant designation to indicate the importance of the election reforms within.
The legislation would enact various measures, including automatic voter registration, provide financing for election security against foreign attacks, and end partisan gerrymandering.
McConnell’s hometown newspaper, the Lexington Herald-Leader, slammed him for having a “segregationist” stance by opposing the bill’s provisions to assist voter protection.
H.R. 1 is one of around 400 bills that House Democrats have passed in the last nine months, only to see them held up by McConnell and Senate Republicans.
In addition to election security, Democrats have addressed gun violence, prescription drug costs, the minimum wage, and protecting insurance coverage for people with preexisting conditions, among myriad other issues.
While Trump has attempted to fight back against growing impeachment sentiment, he has tried to claim that executing oversight of his presidency has stopped Congress from working. As far as the House and Democrats go, that isn’t true.

Turtle Mitch is at 18% approval in Kentucky.

Have you looked at the numbers for the entire lot? shameful

Single digit approval of Congress, and yet there is a 98 percent re-election rate in the House and 80 percent re-election rate in the Senate.

Go figure.

"Those other bastards in Congress spend too much on PORK, but my guy brings home the BACON!"

We get the politicians we deserve.

 

[Meister]

[

Still with this zombie lie?

https://www.mcclatchydc.com/news/politics-government/article24504598.html

No it was not F&F that caused the banking debacle

You need to dig a little deeper than an article from a liberal media source, Lesh.

 

[g5000]

Here's one of the worst deregulations:
Final Rule Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Rel. No. 34-49830 June 8 2004

The Commission is amending Rule 15c3-12 (the “net capital rule”) under the Securities Exchange Act of 1934 (the “Exchange Act”) to establish a voluntary, alternative method of computing net capital for certain broker-dealers.

Bush's SEC voted unanimously in 2004 to waive the net capital rule for the 5 biggest broker-dealers. That waiver led directly to the demise of those broker-dealers.

All five of the broker-dealers who were given that extra special treatment by the SEC no longer exist as independent companies or converted into bank holding companies so they could be bailed out.

Bear Stearns was the first to go under. Then Lehman Brothers went under. Then Merrill Lynch went under.

Goldman Sachs and Morgan Stanley converted to bank holding companies so they could receive bailout money. Goldman was also bailed out by former Goldman Sachs CEO, Hank Paulson, who was Bush's Secretary of Treasury. Goldman Sachs received 100 cents on the dollar for their CDS's from AIG.

 

[g5000]

President Bush Calls for Expanding Opportunities to Home Ownership

"And so here are some of the ways to address the issue. First, the single greatest barrier to first time homeownership is a high downpayment. It is really hard for many, many, low income families to make the high down payment."

"And so that's why I propose and urge Congress to fully fund the American Dream Downpayment Fund."


"This will use money, taxpayers' money to help a qualified, low income buyer make a down payment. And that's important."

"Secondly, there is a lack of affordable housing in certain neighborhoods. Too many neighborhoods, especially in inner city America, lack affordable housing units. How can you promote homeownership if people can't afford a home?"


"And so what I've done is propose what we call a Single Family Affordable Housing Tax Credit, to encourage the development of affordable housing in neighborhoods where housing is scarce." (Applause.)

"A third major barrier is the complexity and difficulty of the home buying process. There's a lot of fine print on these forms. And it bothers people, it makes them nervous. And so therefore, what Mel has agreed to do, and Alphonso Jackson has agreed to do is to streamline the process, make the rules simpler, so everybody understands what they are -- makes the closing much less complicated."

"We certainly don't want there to be a fine print preventing people from owning their home. We can change the print, and we've got to."

"That's why I've challenged the industry leaders all across the country to get after it for this goal, to stay focused, to make sure that we achieve a more secure America, by achieving the goal of 5.5 million new minority home owners. I call it America's home ownership challenge."





"First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. (Applause.)"
- George Bush, June 17, 2002

 

[Lesh]

[

Still with this zombie lie?

https://www.mcclatchydc.com/news/politics-government/article24504598.html

No it was not F&F that caused the banking debacle

You need to dig a little deeper than an article from a liberal media source, Lesh.

Try actually reading it

 

[g5000]

I'm so sick of this fucking bullshit where one party blames the other for the crash.

It was EVERYONE's fault. Democrats, Republicans, home buyers, bankers, ratings agencies, but most especially the global financial derivatives market.

This was GLOBAL. So trying to blame the fucking darkies in Chicago is pure RACIST HORSESHIT.

 

[g5000]

If you want an honest assessment of the causes of the crash of 2008, read my explanation in 21 parts here: 2008 Financial Crisis The Causes and Costs of the Worst Crisis Since the Great Depression

 

[Lesh]

If you want an honest assessment of the causes of the crash of 2008, read my explanation in 21 parts here: 2008 Financial Crisis The Causes and Costs of the Worst Crisis Since the Great Depression

I guess you have saved that. Good thing because this zombie lie keeps popping up.

 

[bendog]

I read yesterday that 2/3 pretty uniformly across educational levels age the Trump econ is working well for them. I'm not much interested in my own anecdotal experiences, or anyone else's, and I don't really doubt the popularity. My concern is that the Trump spending increases and gop tax cuts just exacerbate structural deficits that go back to 1980, and god help us is Warren is somehow elected … which I see as impossible without Trump actually testing whether he can shoot someone

 

[g5000]

If you want an honest assessment of the causes of the crash of 2008, read my explanation in 21 parts here: 2008 Financial Crisis The Causes and Costs of the Worst Crisis Since the Great Depression

I guess you have saved that. Good thing because this zombie lie keeps popping up.

It never dies. The parrots get stuck in a groove and there is no amount of reality which can stop them.

I call it the tabula rasa effect. Whoever writes on the empty brains of the rube herd first has the advantage. And since most rubes only watch and listen to propaganda channels which align with their biases, their brains get some amazing bullshit written on them.

Then, when they get out into the real world, everything looks "fake".

This is a very deliberate process on the part of their programmers.

"I want to bleev it, so it must be true!"

 

[g5000]

The CRA hoax was created less than two weeks after the implosion of Lehman Brothers. It was total bullshit invented from ignorance.

What the credulous tards never knew, and still don't seem to know, is that NONE of the broker-dealers were subject to the CRA. Not one of them.

And the broker-dealers were the majority of the subprime market. The GSE's had been reduced to much smaller players by the end. And that was with the full cooperation of the Bush Administration and the Clinton Administration.

When asked by a dipshit Republican Congressman how much the CRA had to do with the collapse of Lehman, Dick Fuld responded with two words, "De minimis."

 

[Meister]

[

Still with this zombie lie?

https://www.mcclatchydc.com/news/politics-government/article24504598.html

No it was not F&F that caused the banking debacle

You need to dig a little deeper than an article from a liberal media source, Lesh.

Try actually reading it

I did read it, our government set it up to where just about anyone could get a home mortgage
through creative financing....such as ARMs. It should never have been implemented and it was easy
to see the impending train wreck. Make no mistake, our government set everything in motion for F&F,
and all the other lenders.

 

[Wry Catcher]

You moved the goal posts. I don't give a shit what was the interest rate in June 2016; you made a claim to denigrate President Obama and mislead the reader that trump saved us from the Bush era Great Recession.

I'm right, you are too damn stupid to even understand the conversation, wry.
More taxation + low fed fund rates = higher revenues. This was over Obama's entire tenure....after the recession ended.
No goal post was moved.
idiot

The recession was over by definition in 2009. Only a fucking idiot thinks that the effects end too.

YOUR team fucked the economy so bad it took several years. The Fed had to keep interest ratyes that low to allow us to recover.

We were recovering.

The feds had started raising the interest rates as the economy improved.

Trump came along & claimed our economy was the best ever,. Sooooo strong. On FIRE!!!!!!!!!!.

Idiots like you believed it.


Now the Fed had to bail out Trump's G.O A.T. economy. Trumps GOAT economy wass running up the debt. Trump's GOAT economy job creation has been weak.
you assdfucks can try to blame Obama all you want. The fact is Bush & the Republicans nearly killed America, Obama brought us back. Trump is sending us back down the road to increasing debts & soon a recession.

Republicans suck. They can't govern. Their only purpose is to hand money to wealthy people, start wars, and destroy the economy.

Have you noticed the world economy? You know, those brilliant liberals over in Europe are having one heck of a time. Our fed has been lowering rates in response to their negative rates. The US is doing very well compared to the rest of the world, which just happens to subscribe to the lefist, nutso agenda the Democrats are pushing, with one small exception. The majority of the leftist nuts running on the Democratic ticket support policiies that are even more left than the vast majority of Europe.(ex: wealth tax)

If one of the lefts wackadoodles gets elected, our economy will totally crash and the lemmings that voted for him/her will blame Trump.

If trump is returned to office his ego will swell and his sense of all powerful will lead to an even a greater sense of megalomania than he has now. He's a bully and we will see a tumped up reason to invade and occupy Venezuela, for their oil and a footstep into South America.

Of course that is speculation, a fiction which may never happen, but one I feel should not be out of the realm of possibility in the minds of the voters.

No matter how much his ego would swell, he still couldn't match your over inflated ego, wry.
Invading and occupying Venezuela? You need to take your meds, wry. Trump 2020.....actually, he's the only game in town.
Biden will be lucky not to be in prison The Burn, and Pocahontas, we can't afford them....not even on your retirement, wry.

Seems your intolerance for my posts prevents you to honestly evaluate them.

To Wit:

"If trump is returned to office his ego will swell and his sense of all powerful will lead to an even a greater sense of megalomania than he has now. He's a bully and we will see a trumped up reason to invade and occupy Venezuela, for their oil and a footstep into South America.

"Of course that is speculation, a fiction which may never happen, but one I feel should not be out of the realm of possibility in the minds of the voters"

 

[g5000]

[

Still with this zombie lie?

https://www.mcclatchydc.com/news/politics-government/article24504598.html

No it was not F&F that caused the banking debacle

You need to dig a little deeper than an article from a liberal media source, Lesh.

Try actually reading it

I did read it, our government set it up to where just about anyone could get a home mortgage
through creative financing....such as ARMs. It should never have been implemented and it was easy
to see the impending train wreck. Make no mistake, our government set everything in motion for F&F,
and all the other lenders.

The deregulation of derivatives was the biggest factor.

From section 117 of the CFMA (passed by a GOP Congress, signed into law by a Democratic President):

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

Now ask yourself why the CFMA had to have a provision in it which exempted Wall Street from state laws which apply to CASINOS and ILLEGAL BUCKET SHOPS.

Ask yourself why this law which so brazenly stomps on states rights was not protested by Fox News or Libertarians or the ghost of Ronald Reagan.

 

[Lesh]

I read yesterday that 2/3 pretty uniformly across educational levels age the Trump econ is working well for them. I'm not much interested in my own anecdotal experiences, or anyone else's, and I don't really doubt the popularity. My concern is that the Trump spending increases and gop tax cuts just exacerbate structural deficits that go back to 1980, and god help us is Warren is somehow elected … which I see as impossible without Trump actually testing whether he can shoot someone

I'd be interested in knowing where you read that

 

[Wry Catcher]

In response to post 172 I would had that Trump does not use the power of his office responsibly, and might use it to not only wag the dog, but to use our military against those foreign nations who has shown to hate.

Maybe Venezuela, maybe Iran, maybe a small country in Central America.

 

[g5000]

If Warren or Trump win in 2020, we're all fucked.

 

[RealDave]

The Fed cut the rate to 0% because of the crash which began in Sept. 2007, a month after Obama was nominated and nearly four months before he took office:

"The target rate remained at 5.25% for over a year, until the Federal Reserve began lowering rates in September 2007. The last cycle of easing monetary policy through the rate was conducted from September 2007 to December 2008 as the target rate fell from 5.25% to a range of 0.00–0.25%."

what was the fed interest rate in 2008 - Google Search

You have now been exposed as a Damn Liar!

Fed's Kashkari calls for no more rate hikes until inflation hits 2%

You idiot....what was the interest rates in June of 2016? 7+ years after the recession ended.
You're loose with calling people liars, but apparently, too damn stupid to even understand the conversation.

You moved the goal posts. I don't give a shit what was the interest rate in June 2016; you made a claim to denigrate President Obama and mislead the reader that trump saved us from the Bush era Great Recession.

I'm right, you are too damn stupid to even understand the conversation, wry.
More taxation + low fed fund rates = higher revenues. This was over Obama's entire tenure....after the recession ended.
No goal post was moved.
idiot

The recession was over by definition in 2009. Only a fucking idiot thinks that the effects end too.

YOUR team fucked the economy so bad it took several years. The Fed had to keep interest ratyes that low to allow us to recover.

We were recovering.

The feds had started raising the interest rates as the economy improved.

Trump came along & claimed our economy was the best ever,. Sooooo strong. On FIRE!!!!!!!!!!.

Idiots like you believed it.


Now the Fed had to bail out Trump's G.O A.T. economy. Trumps GOAT economy wass running up the debt. Trump's GOAT economy job creation has been weak.
you assdfucks can try to blame Obama all you want. The fact is Bush & the Republicans nearly killed America, Obama brought us back. Trump is sending us back down the road to increasing debts & soon a recession.

Republicans suck. They can't govern. Their only purpose is to hand money to wealthy people, start wars, and destroy the economy.

Have you noticed the world economy? You know, those brilliant liberals over in Europe are having one heck of a time. Our fed has been lowering rates in response to their negative rates. The US is doing very well compared to the rest of the world, which just happens to subscribe to the lefist, nutso agenda the Democrats are pushing, with one small exception. The majority of the leftist nuts running on the Democratic ticket support policiies that are even more left than the vast majority of Europe.(ex: wealth tax)

If one of the lefts wackadoodles gets elected, our economy will totally crash and the lemmings that voted for him/her will blame Trump.

Global economy slowing

Global economy slowing much faster than expected

One reason Trump. Trump's Trade War.

This is the brilliance of Trump. Trump want to help US manufacturers. He starts a Trade war with China & other countries. He keeps piling on the tariffs with the purpose of hurting these other economies. Those economies slow & so do their orders of US goods. US manufacturers suffer.

 

[bendog]

The CRA hoax was created less than two weeks after the implosion of Lehman Brothers. It was total bullshit invented from ignorance.

What the credulous tards never knew, and still don't seem to know, is that NONE of the broker-dealers were subject to the CRA. Not one of them.

And the broker-dealers were the majority of the subprime market. The GSE's had been reduced to much smaller players by the end. And that was with the full cooperation of the Bush Administration and the Clinton Administration.

When asked by a dipshit Republican Congressman how much the CRA had to do with the collapse of Lehman, Dick Fuld responded with two words, "De minimis."

It was basically about too much capital going into bogus bonds that paid impossibly optimistic returns, and the capital went there because there was (and had been for at least a decade and still is) a lack of investment opportunities to increase demand for goods. Both Rubio and Cruz attempted to address that in 16 with proposals for a tax cut for labor and not the McConnell tax cuts that were passed for corporations and the top .1% and 1%.

And it was also basically about too much debt by consumers both in taking out housing and house equity loans, and revolving credit. Because their pay checks went up multiple times slower than increases in corp profits …. which not coincidentally led to so much capital looking for investment referred to in the preceeding paragraph. And consumers wanted some sugar from the growing economy too.

Then, when capital markets failed, the investors sat on their cash. And consumers stopped spending. Together, those caused the economic precursors to real deflation. Which was the killer in the 1930s.

That's when the Bernank stepped in and essentially forced banks to loan money