AOC and Bernie Have a Brilliant New Idea for Banking

[occupied]

It is by no means a new idea nor is it a bad idea in spite of this shit article.

It is a horrible idea and nothing will convince me otherwise...

Of course not you loyal little Trumpbot. The big banks thank you for your entirely predictable knee-jerk reaction to something you know nothing about.

Thank you for showing your ignorance seeing I hate Trump.

The government handing out high risk loans is a great idea until those borrowing default because they could not pay leaving the government on the hook.

It is better to educate the ignorant fools so they can get a better paying job, wait you hate that idea because if they are educated then you can not put them on the goverment crack pipe...

The article is a lie. No loans, just basic banking services to communities where banks really do not exist.

No loans, just basic banking services to communities where banks really do not exist.

You want a bank that doesn't make loans?

What I want is unimportant.

 

[Toddsterpatriot]

It is a horrible idea and nothing will convince me otherwise...

Of course not you loyal little Trumpbot. The big banks thank you for your entirely predictable knee-jerk reaction to something you know nothing about.

Thank you for showing your ignorance seeing I hate Trump.

The government handing out high risk loans is a great idea until those borrowing default because they could not pay leaving the government on the hook.

It is better to educate the ignorant fools so they can get a better paying job, wait you hate that idea because if they are educated then you can not put them on the goverment crack pipe...

The article is a lie. No loans, just basic banking services to communities where banks really do not exist.

No loans, just basic banking services to communities where banks really do not exist.

You want a bank that doesn't make loans?

What I want is unimportant.

What I want is unimportant.

I agree.

Bernie wants it to lend.

 

[Ridgerunner]

If brains were dynamite crazy burnie and ole Rep. bug eyes would not be able to muster up enough explosives to blow their noses...

 

[georgephillip]

Where did you get the idea public banking requires dispensing subprime loans? That's a specialty of for-profit banks.

"Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor...."

Postal savings system - Wikipedia

"In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 (80 Stat. 92)."

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

 

[Harpy Eagle]

* * * * * * * *

Handing out loans to high credit risks is how you get a crash like we had in 2008.

This is not really accurate, it was the way those loans were handled after they were given out that was the problem. Had they not been bundled the way they were and then sold off time and time again it would not have been near as big an issue.

That aside, it is a stupid idea that these two have...

 

[Toddsterpatriot]

Where did you get the idea public banking requires dispensing subprime loans? That's a specialty of for-profit banks.

"Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor...."

Postal savings system - Wikipedia

"In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 (80 Stat. 92)."

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

 

[blastoff]

Why are Democrats working so hard to get Trump elected again? It’s only 2019, throttle back!


There are dumb ideas and then there’s whatever this is.

Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office, where sub-prime loans would be given out to people who are terrible credit risks, thereby causing high default rates. Because absolutely nothing bad could come of that.

* * * * * * * *

Handing out loans to high credit risks is how you get a crash like we had in 2008.

Yet, here’s AOC and Bernie suggesting that not only should banks give out junk loans, but that the Postal Service should be doing the lending. That’s the same Postal Service that lost $3.6B last year alone. Now these two socialists want them to take on even more losses via giving out bad loans? It’s completely insane.

AOC and Bernie Have a Brilliant New Idea for Banking

I wouldn’t get too upset about this unless these two batshit loons figure out a way to include Amtrak into their completely stupid proposal.

 

[georgephillip]

Where did you get the idea public banking requires dispensing subprime loans? That's a specialty of for-profit banks.

"Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor...."

Postal savings system - Wikipedia

"In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 (80 Stat. 92)."

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

 

[Toddsterpatriot]

Where did you get the idea public banking requires dispensing subprime loans? That's a specialty of for-profit banks.

"Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor...."

Postal savings system - Wikipedia

"In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 (80 Stat. 92)."

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

 

[Cellblock2429]

Why are Democrats working so hard to get Trump elected again? It’s only 2019, throttle back!


There are dumb ideas and then there’s whatever this is.

Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office, where sub-prime loans would be given out to people who are terrible credit risks, thereby causing high default rates. Because absolutely nothing bad could come of that.

* * * * * * * *

Handing out loans to high credit risks is how you get a crash like we had in 2008.

Yet, here’s AOC and Bernie suggesting that not only should banks give out junk loans, but that the Postal Service should be doing the lending. That’s the same Postal Service that lost $3.6B last year alone. Now these two socialists want them to take on even more losses via giving out bad loans? It’s completely insane.

AOC and Bernie Have a Brilliant New Idea for Banking

/——/ If somehow this became law, the democRATs would find a way to blame Republicans for the eventual collapse.

 

[georgephillip]

Where did you get the idea public banking requires dispensing subprime loans? That's a specialty of for-profit banks.

"Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor...."

Postal savings system - Wikipedia

"In the United States, the United States Postal Savings System was established in 1911 under the Act of June 25, 1910 (36 Stat. 814). It was discontinued by the Act of March 28, 1966 (80 Stat. 92)."

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

 

[Norman]

Why are Democrats working so hard to get Trump elected again? It’s only 2019, throttle back!


There are dumb ideas and then there’s whatever this is.

Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office, where sub-prime loans would be given out to people who are terrible credit risks, thereby causing high default rates. Because absolutely nothing bad could come of that.

* * * * * * * *

Handing out loans to high credit risks is how you get a crash like we had in 2008.

Yet, here’s AOC and Bernie suggesting that not only should banks give out junk loans, but that the Postal Service should be doing the lending. That’s the same Postal Service that lost $3.6B last year alone. Now these two socialists want them to take on even more losses via giving out bad loans? It’s completely insane.

AOC and Bernie Have a Brilliant New Idea for Banking

Electricity plan:

Banking plan:

I think they have it figured out. I mean the basics, obviously the plan needs a few more fuck whites, fuck republicans and fuck Americans to be sell-able.

 

[Toddsterpatriot]

Wrong. It's an idea the government imposed them.

Wrong. It's an idea the government imposed them

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008:

Paid

Definition of PAID

Past tense.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime...

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

 

[Rambunctious]

The last time the dems placed loan rules on banks our economy collapsed...remember 2008?...do you libs really want that to happen again?...

 

[Claudette]

Why are Democrats working so hard to get Trump elected again? It’s only 2019, throttle back!


There are dumb ideas and then there’s whatever this is.

Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office, where sub-prime loans would be given out to people who are terrible credit risks, thereby causing high default rates. Because absolutely nothing bad could come of that.

* * * * * * * *

Handing out loans to high credit risks is how you get a crash like we had in 2008.

Yet, here’s AOC and Bernie suggesting that not only should banks give out junk loans, but that the Postal Service should be doing the lending. That’s the same Postal Service that lost $3.6B last year alone. Now these two socialists want them to take on even more losses via giving out bad loans? It’s completely insane.

AOC and Bernie Have a Brilliant New Idea for Banking

LMAO Guess the two genius's missed the housing collapse that already took place.

They should speak with the two retired Congress critters who were all for Fannie and Freddie while the housing markets collapsed. Both retired shortly thereafter so we tax payers can support their useless asses.

 

[georgephillip]

The government created mortgage backed securities?

What Was the Subprime Mortgage Crisis and How Did it Happen?

"The subprime mortgage crisis, which guided us into the Great Recession, has many parties that can share blame for it.

"For one, lenders were selling these as mortgage-backed securities. After the lenders approved and gave out the loan, that loan would be sold to an investment bank.

"The investment bank would then bundle this mortgage with other similar mortgage for other parties to invest in, and the lender would, as a result of the sale, have more money to use for home loans."

What was the government's role in creating liars' loans?

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008:

Paid

View attachment 260218

Definition of PAID

Past tense.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime...

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Have you considered ESL classes?

How Wall Street cost you $70,000

"In other words, that $70,000 per person is just the output we lost thanks to Wall Street's existential crisis.

"By focusing on that distinction, the Fed paper tells us something important.

"That $70,000 isn't simply what every American paid because of our government's ideologically confused macroeconomic response to the Great Recession, and its astoundingly inadequate efforts at countercyclical stimulus — though that's certainly part of the story.

"Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

Perhaps the semantic dissonance you're experiencing with this syntax stems from your charter membership in the parasite class?

 

[Toddsterpatriot]

The government created mortgage backed securities?

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

The first ones were created by Ginnie Mae in 1968.
Freddie Mac started issuing them in 1971.

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008:

Paid

View attachment 260218

Definition of PAID

Past tense.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime...

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Have you considered ESL classes?

How Wall Street cost you $70,000

"In other words, that $70,000 per person is just the output we lost thanks to Wall Street's existential crisis.

"By focusing on that distinction, the Fed paper tells us something important.

"That $70,000 isn't simply what every American paid because of our government's ideologically confused macroeconomic response to the Great Recession, and its astoundingly inadequate efforts at countercyclical stimulus — though that's certainly part of the story.

"Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

Perhaps the semantic dissonance you're experiencing with this syntax stems from your charter membership in the parasite class?

Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

I've been laughing at the film major's article ever since you linked it.
Thanks for confirming your idiocy by continuing to agree with his error.

 

[georgephillip]

Mortgage-backed security - Wikipedia

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857.[10]

"There was also an extensive commercial MBS market in the 1920s."
How Wall Street cost you $70,000

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008:

Paid

View attachment 260218

Definition of PAID

Past tense.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime...

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Have you considered ESL classes?

How Wall Street cost you $70,000

"In other words, that $70,000 per person is just the output we lost thanks to Wall Street's existential crisis.

"By focusing on that distinction, the Fed paper tells us something important.

"That $70,000 isn't simply what every American paid because of our government's ideologically confused macroeconomic response to the Great Recession, and its astoundingly inadequate efforts at countercyclical stimulus — though that's certainly part of the story.

"Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

Perhaps the semantic dissonance you're experiencing with this syntax stems from your charter membership in the parasite class?

Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

I've been laughing at the film major's article ever since you linked it.
Thanks for confirming your idiocy by continuing to agree with his error.

 

[Toddsterpatriot]

"Among the early examples of mortgage-backed securities in the United States were the farm railroad mortgage bonds of the mid-19th century which may have contributed to the panic of 1857

I don't remember a lot of farm or railroad bonds defaulting in 2008, but ok.


$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy,

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.
That author believes some interesting things.

Jeff Spross is video editor and blogger for ThinkProgress.org. Jeff was raised in Texas and received his B.S. in film from the University of Texas, after which he worked for several years as an assistant editor in Austin and Los Angeles. During that time Jeff co-founded, wrote and produced The Regimen, a blog and podcast dealing with politics and culture. More recently, he has interned at The American Prospect and worked as a video producer for The Guardian

As an economist, he's one hell of a film major. Not very good at math though.

Thanks. That was hilarious! $70,000 is in the title and 8 times in the article. He sounds serious!


$70,000 times 300 million Americans (rough estimate) = $21 trillion.

Read more.
Spin less.
How Wall Street cost you $70,000

"This figure comes via new research from the Federal Reserve.

"The U.S. economy remains well below its pre-2008 growth path.

"And at this point, it looks like we'll never recover.

"The Fed's economists are not the first people to reach this conclusion.

"But the Fed paper also looks forward, and adds up the total economic output we won't see, thanks to the financial crisis, over the course of the average American's lifetime.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime had the financial crisis not wrecked American economic growth."

$70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008:

Paid

View attachment 260218

Definition of PAID

Past tense.

"That's where the $70,000 comes from — it's how much more the average American would have made over the course of his or her lifetime...

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Over the course of my lifetime.....future.
If you don't understand the importance difference, you may be a film major.

Have you considered ESL classes?

How Wall Street cost you $70,000

"In other words, that $70,000 per person is just the output we lost thanks to Wall Street's existential crisis.

"By focusing on that distinction, the Fed paper tells us something important.

"That $70,000 isn't simply what every American paid because of our government's ideologically confused macroeconomic response to the Great Recession, and its astoundingly inadequate efforts at countercyclical stimulus — though that's certainly part of the story.

"Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

Perhaps the semantic dissonance you're experiencing with this syntax stems from your charter membership in the parasite class?

Rather, $70,000 is what each of us paid for allowing Wall Street to become what it was in the run-up to 2008: a fearsome parasite that sucked the life out of the American economy, leaving it frail and vulnerable to the illness of the subprime mortgage crisis and corresponding financial panic."

I've been laughing at the film major's article ever since you linked it.
Thanks for confirming your idiocy by continuing to agree with his error.

Don't go getting all flexible, comrade.