The bank rescue - An Obama miracle.

[NightFox]

Really?

When was this "magical" time?

This country has been experiencing wild booms and busts till around the 1950s. Then we sorta reverted to the booms and busts starting in the 1980s. Between the 1950s and 1980s there were some pretty strong regulations in place to keep this sort of nonsense from happening.

Since apparently you're unaware that the American Economy existed before the current fiat currency system was institutionalized and what that meant for the holders of hard asset backed currency I cannot help you with your completely non sequitur analysis.

Pray continue though...

I'm well aware of it.

Then one can only wonder why you choose to ask the stupid question (along with adding your typical condescension, can't help yourself? )

The "hard backed" currencies weren't so "hard" when there were bank runs.

That's no "non sequitur", that's reality.

LOL, you honestly don't understand the point of the original post you replied to do you (got back and read the part about mattresses, use a dictionary if you have to)? You know trying to deflect by continually pointing to non relevant information might fool some people but it doesn't work on everybody ....

And our economy prior to the "New Deal" was one that completely favored the well monied.

It wasn't until the 1950s do you see a recognizable middle class in this country.

Spare me your gub'mint worshipping blather, heard it all before, still don't buy into it but then again I don't gleefully consume whatever propaganda the statist aplogias throw my way either so I guess I'll never acquire the taste for it.

Bon Appetit

 

[Truthmatters]

before GLB act brokers had to have licenses.


That means they could lose their credentials to sell securities if they sold BAD securities.



Bush and team made sure they ONLY had to answer to the BANKS their entire time in office

 

[Truthmatters]

the right in this country orchestrated this mess on purpose.



it was the great shift of wealth right before the boomers started to retire.

They wanted at the boomers savings which was in their homes.

They got it

 

[hjmick]

And they cheated...

 

[CrusaderFrank]

The bank rescue - An Obama miracle.

praise be his Holy Name

 

[Londoner]

"I pretty much lost everything in 2008-2009, banks and bankers make me furious and probably always will. The fact that the government had to bail them out while I was pretty much on my own and shit out of luck will color my politics for the rest of my life." - occupied

The system is designed to help the wealthy private sector who owns government - this is why many captains of industry, from AIG to Citi, were bailed out. The Reagan Revolution began with a promise for small government and deregulation, but it ended with the Bush/Paulson TARP (which Obama continued). Business is no longer a victim of government. They get to make bets with the houses money. If the bets payoff, they keep the profit. If the bets go south, they get bailed out.

These guys created a Ponzi scheme atop money that was fraudulently loaned into an asset bubble where an entire culture of private sector parasites made trillions off fees, securities, swaps and derivatives. This scheme wasn't done to benefit poor home owners, who were destroyed through foreclosure. Nor was it done to benefit the small-time investor, many of whom lost their shirts. It was done to benefit the best and brightest, the noble financial innovators who Reagan wanted 100% freed from regulation. These crooks bid up the bubble and made a fortune on securities & derivatives - then, right before Greenspan raised rates on cue, the same bastards hedged (shorted) the crash and made untold billions more.

Reagan told us that capitalism, unlike socialism, gets incentives right. It rewards the productive. He told us to put business in charge of their own industries, for they know better how to manage their business. Who knew that they would create a rat's nest of bad incentives, and that the poor fucking taxpayer who got foreclosed on would have to save them. Deregulation sometimes leads to efficiency and innovation; other times it provides cover for crime. Why does the Right only tell one side of the story?

 

[bendog]

I did everything right and still lost. At the time I did a lot of bitching about it on line and the predictable taunt from conservatives was "It's all your fault, take responsibility", well I beg to differ on that one. I had no bad debt, business was good and then ---- nothing. It was like a bomb went off in my life and those smug bastards on Wall Street got bailed out while honest business people had to just eat it. I realize now that the rest of the nation was dangerously addicted to easy credit but that does nothing to make me feel any better.

You can take comfort in the fact that those who made all the bad decisions that led to the crash (Fuld, Blankfein, Dimon, Paulson, Schwarz, et al.. ) had their personal fortunes wiped out in the collapse and have been held personally accountable to the point where their careers and reputations are ruined .. ..OH WAIT.. that's in the OTHER UNIVERSE WHERE JUSTICE ACTUALLY PREVAILS, never mind...

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

 

[Truthmatters]

And they cheated...

and the SCOTUS agrees they cheated

Supreme Court denies RNC bid to end voter fraud consent decree

January 14, 2013



The court’s action is a victory for the DNC, and it comes after an election year in which the two parties regularly exchanged charges over “voter fraud” and “voter intimidation.” But most of the recent battles have been fought on the state level, and it is not clear whether the long-standing consent decree has had much impact.

The case began in 1981 when the RNC created a “national ballot security task force” that, among other things, undertook mailing campaigns targeted at black and Latino neighborhoods in New Jersey. If mailers were returned undelivered, party activists put those voters on a list to be challenged if they showed up to cast a ballot. In addition, the party was alleged to have hired off-duty law enforcement officers to “patrol” minority neighborhoods on election day.

The DNC sued the RNC in federal court, alleging its activities violated the Voting Rights Act and were intended to suppress voting among minorities. Rather than fight the charges in a trial, the RNC agreed to a consent decree promising to “refrain from undertaking any ballot security activities … directed toward [election] districts that have a substantial proportion of racial or ethnic minority populations.”

The consent decree has remained in effect, and DNC lawyers say they have gone to court in states such as Arkansas, Kentucky, Louisiana and Pennsylvania to challenge Republican activities that appear to target mostly black precincts. Both sides agree, however, that the consent decree does not forbid “normal poll watching” by Republican officials

 

[The Rabbi]

I did everything right and still lost. At the time I did a lot of bitching about it on line and the predictable taunt from conservatives was "It's all your fault, take responsibility", well I beg to differ on that one. I had no bad debt, business was good and then ---- nothing. It was like a bomb went off in my life and those smug bastards on Wall Street got bailed out while honest business people had to just eat it. I realize now that the rest of the nation was dangerously addicted to easy credit but that does nothing to make me feel any better.

You can take comfort in the fact that those who made all the bad decisions that led to the crash (Fuld, Blankfein, Dimon, Paulson, Schwarz, et al.. ) had their personal fortunes wiped out in the collapse and have been held personally accountable to the point where their careers and reputations are ruined .. ..OH WAIT.. that's in the OTHER UNIVERSE WHERE JUSTICE ACTUALLY PREVAILS, never mind...

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

 

[Sallow]

Since apparently you're unaware that the American Economy existed before the current fiat currency system was institutionalized and what that meant for the holders of hard asset backed currency I cannot help you with your completely non sequitur analysis.

Pray continue though...

I'm well aware of it.

Then one can only wonder why you choose to ask the stupid question (along with adding your typical condescension, can't help yourself? )

The "hard backed" currencies weren't so "hard" when there were bank runs.

That's no "non sequitur", that's reality.

LOL, you honestly don't understand the point of the original post you replied to do you (got back and read the part about mattresses, use a dictionary if you have to)? You know trying to deflect by continually pointing to non relevant information might fool some people but it doesn't work on everybody ....

And our economy prior to the "New Deal" was one that completely favored the well monied.

It wasn't until the 1950s do you see a recognizable middle class in this country.

Spare me your gub'mint worshipping blather, heard it all before, still don't buy into it but then again I don't gleefully consume whatever propaganda the statist aplogias throw my way either so I guess I'll never acquire the taste for it.

Bon Appetit

Whatever.

Somalia is in need of an anarchist libertarian like yourself to show them how to stuff mattresses with cash.

Get crackin'

 

[Sallow]

You can take comfort in the fact that those who made all the bad decisions that led to the crash (Fuld, Blankfein, Dimon, Paulson, Schwarz, et al.. ) had their personal fortunes wiped out in the collapse and have been held personally accountable to the point where their careers and reputations are ruined .. ..OH WAIT.. that's in the OTHER UNIVERSE WHERE JUSTICE ACTUALLY PREVAILS, never mind...

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

Ooooohhh.

A "ZIRP" er.

You do know who lowered the rates to zero? No?

Hint..

Burning B _ _ _.

 

[The Rabbi]

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

Ooooohhh.

A "ZIRP" er.

You do know who lowered the rates to zero? No?

Hint..

Burning B _ _ _.

Was there a point attempted there? If so, FAIL!

 

[bendog]

You can take comfort in the fact that those who made all the bad decisions that led to the crash (Fuld, Blankfein, Dimon, Paulson, Schwarz, et al.. ) had their personal fortunes wiped out in the collapse and have been held personally accountable to the point where their careers and reputations are ruined .. ..OH WAIT.. that's in the OTHER UNIVERSE WHERE JUSTICE ACTUALLY PREVAILS, never mind...

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

Actually, had you read the biz week article, you would be aware that the credit default swap market has dried up because of govt regulation.

 

[The Rabbi]

That in a nutshell is the rub. While Obama's treasury has made improvements to the banking system,

Credit-Default Swap Market Shrinks by Half - Businessweek

the individuals who profited enormously by bringing the economy to it's knees and burdening our children with trillions in debt ... walked away with the money. For example,

Boaz Weinstein - Wikipedia, the free encyclopedia

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

Actually, had you read the biz week article, you would be aware that the credit default swap market has dried up because of govt regulation.

That's called an improvement?

 

[bendog]

yeah, credit default swaps were a bogus way of "reducing risk."

 

[Sallow]

There have been no improvements to the banking system. The system is being artificially propped up by ultra low rates and competition is severely limited. Regulators literally sit in on every major business decision.
You understand the banks paid back all the money plus interest and the US government made out like a bandit, right? Maybe you should be paying Jamie Dimon back. Or sending him a thank you note.
Meanwhile Fannie/Freddie, which Democrats swore would never become an obligation of the feds, has absorbed billions in dollars without paying it back.

Ooooohhh.

A "ZIRP" er.

You do know who lowered the rates to zero? No?

Hint..

Burning B _ _ _.

Was there a point attempted there? If so, FAIL!

Fail, what?

Bush left a colossal mess.

And on each and every front.

By the way..he didn't really do anything to clean it up. With the exception of TARP, which he left as a parting gift for the next guy to implement, he got out of Dodge before the lynch mob came.

Alot of the things the Obama administration had to do were never tried before.

The "fail" was what you guys were suggesting.

Austerity and cutting taxes.

And the "fail" is what the GOP actually did. Create crisis after crisis that caused downgrades and shutting down the government that cost the economy 25 billion.

 

[The Rabbi]

Ooooohhh.

A "ZIRP" er.

You do know who lowered the rates to zero? No?

Hint..

Burning B _ _ _.

Was there a point attempted there? If so, FAIL!

Fail, what?

Bush left a colossal mess.

And on each and every front.

By the way..he didn't really do anything to clean it up. With the exception of TARP, which he left as a parting gift for the next guy to implement, he got out of Dodge before the lynch mob came.

Alot of the things the Obama administration had to do were never tried before.

The "fail" was what you guys were suggesting.

Austerity and cutting taxes.

And the "fail" is what the GOP actually did. Create crisis after crisis that caused downgrades and shutting down the government that cost the economy 25 billion.

You're such a joker. I know you're joking because no one can be as stupid as to believe the shit you spew here daily. You're sitting back laughing saying "wow, those guys think I'm serious when I write this crap! I really fooled them!" That's gotta be it.

 

[Desperado]

A Well deserved Tribute:
Ode to the bankers
[ame=http://www.youtube.com/watch?v=9TYezSrzUUs]Jump You Fuckers~Gene Burnett - YouTube[/ame]

 

[Sallow]

Was there a point attempted there? If so, FAIL!

Fail, what?

Bush left a colossal mess.

And on each and every front.

By the way..he didn't really do anything to clean it up. With the exception of TARP, which he left as a parting gift for the next guy to implement, he got out of Dodge before the lynch mob came.

Alot of the things the Obama administration had to do were never tried before.

The "fail" was what you guys were suggesting.

Austerity and cutting taxes.

And the "fail" is what the GOP actually did. Create crisis after crisis that caused downgrades and shutting down the government that cost the economy 25 billion.

You're such a joker. I know you're joking because no one can be as stupid as to believe the shit you spew here daily. You're sitting back laughing saying "wow, those guys think I'm serious when I write this crap! I really fooled them!" That's gotta be it.

Says the economic master of peddling guns.

Yeah..that's like asking a hod carrier for his opinion of brain surgery.

The fun thing is, you are always wrong. And provably so.

That's unless one ignores the mainstream press from about anywhere in the world.

 

[NightFox]

I'm well aware of it.

Then one can only wonder why you choose to ask the stupid question (along with adding your typical condescension, can't help yourself? )


LOL, you honestly don't understand the point of the original post you replied to do you (got back and read the part about mattresses, use a dictionary if you have to)? You know trying to deflect by continually pointing to non relevant information might fool some people but it doesn't work on everybody ....

And our economy prior to the "New Deal" was one that completely favored the well monied.

It wasn't until the 1950s do you see a recognizable middle class in this country.

Spare me your gub'mint worshipping blather, heard it all before, still don't buy into it but then again I don't gleefully consume whatever propaganda the statist aplogias throw my way either so I guess I'll never acquire the taste for it.

Bon Appetit

Whatever.

Somalia is in need of an anarchist libertarian like yourself to show them how to stuff mattresses with cash.

Get crackin'

That's the spirit, when pure deflection fails, mix it with some ad hominem and give it another shot....... so predictable.