The Carnival Triumph Disaster. A Preview Of Obama's Second Term?

[Truthmatters]

a lot of us grew up in the 50's/60s/70s where we had to work hard to save up a few thousand to buy a home. look at what happened after Pelosi became speaker. No Money?, No Down Payment? Work part-time or on welfare? NO PROBLEM !!! here, take the 200,000 and buy a brand new home, isn't that wonderful, and you didn't even have to work for it !

and in those years Glass Steagal was in place to keep the banks from screwing those hard working people out of their money.


Glass steal was killed by GLB act and then the Bush SEC held back the very regulations written into the bill which would have prevented this mess from occuring.


The banks all wrote sub prime even when they had no reason under tha lwas to write them.

The CRA only effects a small protion of tghe sub prime the banks ended up writing.

WHY? WHY ? WHY? did the banks write SO MANY more than CRA required them to make?

Because they wrote them and made money and then sold them and made money.

Then the people who bought them got screwed

 

[tinydancer]

Again.."anyone" isn't an answer.

And most of the US bonds sell at a very brisk pace. That's even with the S&P downgrade. Why? Because the US economy is the largest, most robust, trusted, innovative and valuable economies in the world. Many of the world's currencies peg against the dollar.

Would the country be better off without the 16 trillion dollar debt? Sure..but it's a debt we can still manage..and manage way into the future. And actually having NO DEBT is worse.

As is this headlong blind rush into austerity.

tell me how having no debt is worse than having a large debt. This should be interesting

Because a large part of our economy actually depends on debt. That's how much of the financial sector makes money. Additionally, in our economy, the government is the biggest consumer. No government consumption, it would put a huge burden on the private sector to make up for that short fall. That's it in a nutshell.

One of the worst analogies I've ever heard of the government, is when it's explained as a household. Nothing could be further from the truth.

I guess the proper analogy would be a drunken sailor.

Even though I'm way out here after 6 oclock sometimes earlier I can program in WLS on my radio to get Hannity and Levin out of Chicago.

You should hear all the radio advertisements that are government sponsored on so many levels. Mega buckolas Sallow to run ad spots.

Why aren't taxpayers screaming about a government ad put out by the EPA about asking your boss to give you extra money to take transit?

You should hear the ads. Why is your money being spent this way? You ever check into radio ad rates?

Why can't the government stop spending your money on garbage like this? Why don't you rise up? Both sides.

Yeah drunken sailor. It is so strange that so few want to stop the crazy old people in Washington from ruining the country.

 

[Truthmatters]

the right jsut insists on believing lies instead oif the facts.

Lies may be good enough for you but they are not for me.

Truth is what matters and lies get yolu no where but taken.

quit being a willing partner in your own distruction

 

[Esmeralda]

good analogy. The collapse of our fiscal system in inevitable. If we continue to spend more than we collect and continue to increase the national debt the system will collapse.

It amazes me that those on the left cannot see this simple reality.

But this is so funny. That's exactly what GW Bush did. Why didn't those on the right stop him?????????

 

[Sallow]

tell me how having no debt is worse than having a large debt. This should be interesting

Because a large part of our economy actually depends on debt. That's how much of the financial sector makes money. Additionally, in our economy, the government is the biggest consumer. No government consumption, it would put a huge burden on the private sector to make up for that short fall. That's it in a nutshell.

One of the worst analogies I've ever heard of the government, is when it's explained as a household. Nothing could be further from the truth.

I guess the proper analogy would be a drunken sailor.

Even though I'm way out here after 6 oclock sometimes earlier I can program in WLS on my radio to get Hannity and Levin out of Chicago.

You should hear all the radio advertisements that are government sponsored on so many levels. Mega buckolas Sallow to run ad spots.

Why aren't taxpayers screaming about a government ad put out by the EPA about asking your boss to give you extra money to take transit?

You should hear the ads. Why is your money being spent this way? You ever check into radio ad rates?

Why can't the government stop spending your money on garbage like this? Why don't you rise up? Both sides.

Yeah drunken sailor. It is so strange that so few want to stop the crazy old people in Washington from ruining the country.

How exactly does this address what I posted?

And "drunken sailor" doesn't exactly work either, unless you are talking about the military.

 

[Truthmatters]

Here is a quick tutorial on the need for debt.

In a family it is wise to go into debt you will be able to pay off before you die.

You can save a hundered thousand dollars and then buy a home BUT.
its wiser to take out a loan and Buy a house on credit.

that way you can LIVE in the house while you pay it off.

The other way you still have to pay rent and save.



For a country it is the same thing.

You can use the infrastructure WHILE you pay for it.

Now hopefully unlike a person a country is not designed to die.

that means you ALWAYS carry some reasonable level of debt into the furture for the sake of your future citizens.


If you as a person NEVER died you would also carry some debt into the future always.

because its the smart way to do things.

 

[TheSeventhTiger]

if I knew that banks were forced to give loans to the poor/lower middle class in early 2007, I wouldn't of borrowed 12,000.00 at 0%. I had no idea what was going on behind the scenes. I could of easily paid it back much easier if we had a President Romney or McCain. At least I have been debt free for a while now. Never Again !!!

 

[tinydancer]

Bush caused this on purpose just like he LIED us into war on purpose.


stop supporting the very people who want to keep you down

Hello?

Afghanistan was a NATO operation sanctioned by the UN.

Iraq. Well I always figured so many countries signed onto that because the last thing on the planet even countries in the ME didn't want was Saddam's sons getting into power.

Sort of Iraqi versions of Adam Lanza with bigger guns.

My PM at the time, Chretien didn't go for it because his son in law was reportedly involved in the oil for food scandal.

Politics and relatives.

Oh please.

Truth. Prime Minister Chretien who was in power at the time had connections to oil for food.

Not directly. But his son in law and his son in laws brother were involved in a firm out of Paris that had ties to oil for food. Dealing with Iraq at a time of sanctions.

Diane Francis was the reporter who dug up the link if I remember correctly.

 

[Truthmatters]

I will note still not one person can give me a good reason why the bush SEC held back the broker rules in GLB act for 8 long years

 

[tinydancer]

good analogy. The collapse of our fiscal system in inevitable. If we continue to spend more than we collect and continue to increase the national debt the system will collapse.

It amazes me that those on the left cannot see this simple reality.

But this is so funny. That's exactly what GW Bush did. Why didn't those on the right stop him?????????

Didn't you hear people screaming on the right? Why did you take the House in 2006? How did Obama get elected?

Conservatives and Libertarians are sick to death of the Karl Roves and other inside the beltways pulling the strings.


They didn't show up to vote.

 

[Truthmatters]

The right did not rail against Bush so stop lying about it

 

[Truthmatters]

can you tell me a good reason Bush held back the broker rules in GLBact fro 8 years?

 

[Sallow]

Hello?

Afghanistan was a NATO operation sanctioned by the UN.

Iraq. Well I always figured so many countries signed onto that because the last thing on the planet even countries in the ME didn't want was Saddam's sons getting into power.

Sort of Iraqi versions of Adam Lanza with bigger guns.

My PM at the time, Chretien didn't go for it because his son in law was reportedly involved in the oil for food scandal.

Politics and relatives.

Oh please.

Truth. Prime Minister Chretien who was in power at the time had connections to oil for food.

Not directly. But his son in law and his son in laws brother were involved in a firm out of Paris that had ties to oil for food. Dealing with Iraq at a time of sanctions.

Diane Francis was the reporter who dug up the link if I remember correctly.

Yeah..and Cheney was making deals with them too.

Had nothing to do with Iraq ever being a threat to western civilization.

 

[Truthmatters]

Ex-SEC Official Blames Agency for Blow-Up of Broker-Dealers - The New York Sun

 

[Truthmatters]

Proposed SEC Rule on Brokers Makes No Sense - TheStreet


Complaints against brokers reached an all-time high in 2000. Never slow to address problems in the industry, the Securities and Exchange Commission recently announced plans to adopt a long-dormant rule that would provide less regulation for brokers.




Earlier this month, Paul Roye, head of the SEC division that oversees investment advisers, announced that his staff would recommend that the agency adopt a rule exempting brokers from rules that apply to investment advisers -- regardless of whether they are providing investment advice.

 

[Sallow]

Here is a quick tutorial on the need for debt.

In a family it is wise to go into debt you will be able to pay off before you die.

You can save a hundered thousand dollars and then buy a home BUT.
its wiser to take out a loan and Buy a house on credit.

that way you can LIVE in the house while you pay it off.

The other way you still have to pay rent and save.



For a country it is the same thing.

You can use the infrastructure WHILE you pay for it.

Now hopefully unlike a person a country is not designed to die.

that means you ALWAYS carry some reasonable level of debt into the furture for the sake of your future citizens.


If you as a person NEVER died you would also carry some debt into the future always.

because its the smart way to do things.

Little clumsy..but there's that aspect to it.

 

[Truthmatters]

Regulation R ? Broker "Push-out" Rules - Finance and Banking - United States

 

[Truthmatters]

its the basics.

it puts it at a level a joe dokes like me can understand why carrying debt makes sense for a country

 

[Truthmatters]

Proposed SEC Rule on Brokers Makes No Sense - TheStreet


Complaints against brokers reached an all-time high in 2000. Never slow to address problems in the industry, the Securities and Exchange Commission recently announced plans to adopt a long-dormant rule that would provide less regulation for brokers.




Earlier this month, Paul Roye, head of the SEC division that oversees investment advisers, announced that his staff would recommend that the agency adopt a rule exempting brokers from rules that apply to investment advisers -- regardless of whether they are providing investment advice.

They gamed the regulations in GLBact to allow the banks to do whatever they wanted.


they did what they wanted and the American people got TAKEN

 

[Truthmatters]

Brokers were already doing things they should not do for money.

The Bush response was to NOT impliment the laws designed to protect the people.