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Getbig Main Boards => Politics and Political Issues Board => Topic started by: James on July 23, 2009, 12:43:19 PM
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That was honestly one of the best speeches I've heard in a long time.
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Reaganomics helped was responsible for starting the deregulation train for the financial sector which ultimately led to the mess we're in now.
He's definitely someone who should not be taken seriously.
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Reaganomics helped was responsible for starting the deregulation train for the financial sector which ultimately led to the mess we're in now.
He's definitely someone who should not be taken seriously.
Wrong.
There are two main reasons for the break down:
1. Repeal of Glass Steagal by Clinton
2. Repeal the Uptick Rule.
Look those two up.
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Wrong.
There are two main reasons for the break down:
1. Repeal of Glass Steagal by Clinton
2. Repeal the Uptick Rule.
Look those two up.
To be fair it was pushed by the Republican Congress at the time and Clinton approved it with his signature.
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To be fair it was pushed by the Republican Congress at the time and Clinton approved it with his signature.
Agreed.
Additionally, the purchasing of subprime loans by Fannie and Feddy fueled the insanity on wall street offering the CDS and CDO for these crap loans.
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Wrong.
There are two main reasons for the break down:
1. Repeal of Glass Steagal by Clinton
2. Repeal the Uptick Rule.
Look those two up.
I'm already familiar with those two acts. Financial deregulation didn't become 'popular' until the Reagan era. As I stated earlier, it set the precedence for what was to come.
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I'm already familiar with those two acts. Financial deregulation didn't become 'popular' until the Reagan era. As I stated earlier, it set the precedence for what was to come.
The CRA came into existence durting Carters' term promoted heavily during clintons' term.
The govt is as much to blame as Wall Street in the melt down.
Its was not "Deregulation", but affirmative regulations such as the CRA and the Fanny & Freddy buying these loans which made the problem far worse. The govt created the housing bubble, not wall street. Wall street sort of came in once the fire was started and fanned the flames that were already started.
Deregulation in terms fo repealing the Glass Steagal Act, I agree with you, but that was done by Clinton and Phil Gramm, not Regan.
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The CRA came into existence durting Carters' term promoted heavily during clintons' term.
The govt is as much to blame as Wall Street in the melt down.
Its was not "Deregulation", but affirmative regulations such as the CRA and the Fanny & Freddy buying these loans which made the problem far worse. The govt created the housing bubble, not wall street. Wall street sort of came in once the fire was started and fanned the flames that were already started.
Deregulation in terms fo repealing the Glass Steagal Act, I agree with you, but that was done by Clinton and Phil Gramm, not Regan.
I personally believe the Federal Reserve is behind as much of this mess as anyone.
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I personally believe the Federal Reserve is behind as much of this mess as anyone.
Agreed!
Check this out:
________________________ ________________________ ________________________ ______
IBD: Carter More to Blame for Financial Crisis Than Bush or McCain
By Noel Sheppard (Bio | Archive)
September 20, 2008 - 16:29 ET
Much as Bush-hating media members conveniently ignore historical events that led to the invasion of Iraq in March 2003, their current finger-pointing at the White House, John McCain, and all Republican politicians for the collapse of the financial services industry lacks any honest assessment of decades-old legislation that laid the groundwork for today's problems.
In particular, 1977's Community Reinvestment Act which required banks and savings institutions to make loans to the lower-income areas in the communities they served.
Despite how integrally tied the current crisis is to this bill enacted by a Democrat-controlled Congress and signed into law by Jimmy Carter, no major media outlet other than Investor's Business Daily and National Review Online mentioned it during last week's market meltdown.
Going against the grain was a highly-informative editorial by IBD Thursday (emphasis added, h/t NBer Gary Hall, photo courtesy About.com):
Story Continues Below Ad ↓
To hear today's Democrats, you'd think all this started in the last couple years. But the crisis began much earlier. The Carter-era Community Reinvestment Act forced banks to lend to uncreditworthy borrowers, mostly in minority areas.
Age-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiring banks not only to lend to uncreditworthy borrowers, but to do so on the basis of race.
These well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP members of Congress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans. [...]
Failure to comply meant your bank might not be allowed to expand lending, add new branches or merge with other companies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was. [...]
In the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.
Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.
That's how the contagion began.
With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.
Readers are strongly encouraged to review this entire fact-filled piece to not only better understand the roots of today's financial crisis, but also to get a sense as to just how absurd media accusations of this all being Bush and McCain's fault are.
That said, from 1989 through 1995, I managed branches for two savings and loans: Imperial Savings, which got taken over by the Resolution Trust Corporation during the S&L bailout, and; Great Western Bank which eventually was purchased by Washington Mutual.
The pressure to comply with CRA was astounding, especially at Great Western as it was expanding throughout the country. Its ability to acquire other institutions was directly related to its CRA rating.
With this in mind, IBD's views concerning this matter are spot on raising a very important question: if the role of news media is to inform the public, why does a LexisNexis search indicate that as this crisis came to a head last week, its connection to CRA, Jimmy Carter, and Bill Clinton was almost completely ignored?
Would such a revelation make it difficult for Obama-loving press outlets to point fingers at George W. Bush and, more importantly, John McCain?
Yes, that's a rhetorical question.
—Noel Sheppard is the Associate Editor of NewsBusters
________________________ ________________________ ________________
The Federal Reserve kept rates so low during the boom that it just made the bubble grow and grow and grow.
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dumbass, you forgot you already posted this?
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dumbass, you forgot you already posted this?
You donated money to the Obama campaign........ and you say I am the dumbass ?
LMAO !!!!!!
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You donated money to the Obama campaign........ and you say I am the dumbass ?
LMAO !!!!!!
That explains why he gets so angry with me when I point out what Obama is doing. ;D ;D
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You donated money to the Obama campaign........ and you say I am the dumbass ?
LMAO !!!!!!
I remember what I've already posted and I still don't want McCain so yea, I feel ok calling you a dumbass.
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I remember what I've already posted and I still don't want McCain so yea, I feel ok calling you a dumbass.
Lets see, you fell for the Obama "Hope and Change " bullshit, and gave your own money to him, and you think I am the dumbass ?
this is too much....
keep dreaming little hugo ::)
(http://www.godlikeproductions.com/sm/custom/qengfpgo.jpeg)
hey little hugo, did you get your money's worth ?
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Lets see, you fell for the Obama "Hope and Change " bullshit, and gave your own money to him, and you think I am the dumbass ?
this is too much....
keep dreaming little hugo ::)
(http://www.godlikeproductions.com/sm/custom/qengfpgo.jpeg)
since you couldn't even read my post which already answered this above, yea, you're an epic fucking dumbass. What don't you get? I STILL WOULD NOT WANT FUCKING MCCAIN YOU FUCKING DIPSHIT
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since you couldn't even read my post which already answered this above, yea, you're an epic fucking dumbass. What don't you get? I STILL WOULD NOT WANT FUCKING MCCAIN YOU FUCKING DIPSHIT
Have you always been so gullible ?
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Have you always been so gullible ?
you think we'd be better off with McCain and you're calling me gullible. BWHAHAHahhahaha You're fucking delusional. It would be no better and probably worse. He would have passed the same stimulus shit and we'd be at war with Iran and maybe Russia.
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you think we'd be better off with McCain and you're calling me gullible. BWHAHAHahhahaha You're fucking delusional. It would be no better and probably worse. He would have passed the same stimulus shit and we'd be at war with Iran and maybe Russia.
g u l l i b l e :o
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g u l l i b l e :o
i d i o t d o u c h e
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i d i o t d o u c h e
e a s i l y d u p e d
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i d i o t d o u c h e
Hugo - even you hsve to be extremely troubled by the White House secret deals with the Pharma companies. That smacks of back room corruption at all our expense.
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Hugo - even you hsve to be extremely troubled by the White House secret deals with the Pharma companies. That smacks of back room corruption at all our expense.
I'm interested in what the left has to say about that. I couldn't care fucking any less about what you have to say on it. LOL, like you would be for it if the deals did not happen... Be fucking honest, you would be against it even more so save the BS!!!!!!!
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I'm interested in what the left has to say about that. I couldn't care fucking any less about what you have to say on it. LOL, like you would be for it if the deals did not happen... Be fucking honest, you would be against it even more so save the BS!!!!!!!
First off, you seem extremely senstive lately.
Second, I dont favor crony capitalism like this. The WH making deals like this is awful.
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First off, you seem extremely senstive lately.
Second, I dont favor crony capitalism like this. The WH making deals like this is awful.
what a crock of shit. The alternative to no deal is what you would have called socialist. They sought the deal to stay in the max profit money making business. You're all for that, now you're against it ::) RIGHT ::) The only people that should be saying WTF to this are on the left. Face it. it doesn't matter what Obama does, you'll be against it. That's why I really don't care what you have to say Mini-Rush. Not that it matters, nobody on the left had the fucking balls to comment so it doesn't matter.
Didn't you say you don't like Hannity? I don't know why, from what I see you agree with him on almost everything and most of what you post and the manner it's posted could have easily come right off Hannity's teleprompter.
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what a crock of shit. The alternative to no deal is what you would have called socialist. They sought the deal to stay in the max profit money making business. You're all for that, now you're against it ::) RIGHT ::) The only people that should be saying WTF to this are on the left. Face it. it doesn't matter what Obama does, you'll be against it. That's why I really don't care what you have to say Mini-Rush. Not that it matters, nobody on the left had the fucking balls to comment so it doesn't matter.
Didn't you say you don't like Hannity? I don't know why, from what I see you agree with him on almost everything and most of what you post and the manner it's posted could have easily come right off Hannity's teleprompter.
I never watch hannity or listen to him on the radio.
And yes, I will oppose every socialist program put forth by Dear Leader. If he wants to talk about actually reducing govt spending in real terms, i am open to that.
If he wants to ram cap & tax, amnesty for illegal aliens, etc down everyones throats, than no, he will never ever have my support. The last idtiot president tried those things and I opposed that too. do you want to see the letter I sent to the RNC renouncing my membership as proof of that?
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I never watch hannity or listen to him on the radio.
And yes, I will oppose every socialist program put forth by Dear Leader. If he wants to talk about actually reducing govt spending in real terms, i am open to that.
If he wants to ram cap & tax, amnesty for illegal aliens, etc down everyones throats, than no, he will never ever have my support. The last idtiot president tried those things and I opposed that too. do you want to see the letter I sent to the RNC renouncing my membership as proof of that?
No need for you to listen to Hannity. He would just come across to you as an echo ;)
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First off, you seem extremely senstive lately.
Second, I dont favor crony capitalism like this. The WH making deals like this is awful.
QFT
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Did anyone listen to the entire clip
Reagan warns that as soon as we have socialized medicine (aka Medicare) the next step would be the government telling your kids what school they can or cannot go to and then telling them what job that can or cannot have, etc...
Kind of makes you laugh when you look back it at it
Hey, does anyone here have a parent or grandparent who is alive today and/or not bankrupt thanks to Medicare?
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has FA to do with the topic, I just came across these :D
(http://www.radpic.com/photos/ronald_reagan_cigarette_ad.jpg)
(http://www.freakingnews.com/pictures/30500/Cigarette-Advertising-30559.jpg)
LOL
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No need for you to listen to Hannity. He would just come across to you as an echo ;)
Here is another thing, you liberals went crazy over the alleged deal made by cheney and the energy companies, especially when they would not reveal the names of who was in there.
Now, when obama does the same thing, you could care less.
Both were and are wrong.
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Here is another thing, you liberals went crazy over the alleged deal made by cheney and the energy companies, especially when they would not reveal the names of who was in there.
Now, when obama does the same thing, you could care less.
Both were and are wrong.
I think what Obama is doing in that regard in complete bullshit. The same goes for the Obama admin keeping secret who is visiting the White House.
If you watched MSNBC you'd see Olberman, Maddow, etc... calling bullshit on that too
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I think what Obama is doing in that regard in complete bullshit. The same goes for the Obama admin keeping secret who is visiting the White House.
If you watched MSNBC you'd see Olberman, Maddow, etc... calling bullshit on that too
I dont watch cable news.
I get home at night around 9. At that time, I try to cath the last half of the Yankee game on Yes Network.
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Here is another thing, you liberals went crazy over the alleged deal made by cheney and the energy companies, especially when they would not reveal the names of who was in there.
Now, when obama does the same thing, you could care less.
Both were and are wrong.
excuse me? Where do you get that I'm not pissed about Obama cutting backdoor deals with the industries in question? Did you just pull that out of your ass? True, I really don't care to agree or side with you on anything because you would be against Obama no matter what he did so I would much rather hear from other liberals or truly independent people on it. Unfortunately nobody on the left seems to want to talk about it so I don't have a lot to talk about. The only impression i get from you is that you'll do anything, say anything to attack obama. Sounds like Hannity, Rush and Ann Coulter to me. Thanks but no thanks.
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excuse me? Where do you get that I'm not pissed about Obama cutting backdoor deals with the industries in question? Did you just pull that out of your ass? True, I really don't care to agree or side with you on anything because you would be against Obama no matter what he did so I would much rather hear from other liberals or truly independent people on it. Unfortunately nobody on the left seems to want to talk about it so I don't have a lot to talk about. The only impression i get from you is that you'll do anything, say anything to attack obama. Sounds like Hannity, Rush and Ann Coulter to me. Thanks but no thanks.
Well - when he starts to cut govt spending, stop bashing our country overseas, end cap & trade, not allow pelosi to run the govt, not talk about amnesty for illegals, etc, I will lighten up.
I promise. ;D
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Well - when he starts to cut govt spending, stop bashing our country overseas, end cap & trade, not allow pelosi to run the govt, not talk about amnesty for illegals, etc, I will lighten up.
I promise. ;D
Don't bullshit me... I know your kind all to well. You'll ignore the good if there is any to come and find a new bitch. Anyway, where did you get that I didn't care about Obama's backdoor deals?
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Don't bullshit me... I know your kind all to well. You'll ignore the good if there is any to come and find a new bitch. Anyway, where did you get that I didn't care about Obama's backdoor deals?
I did not say you personally. I was referring more to the likes of Decker, Lurker, Benny.
Hugo - you know what? The health plan did not havwe to end like this provided it was started the way it did. Obama seems to me not someone who is a leader. He gives everything off to Pelosi, lets her craft some crazy shit, then he has to defend the indefensible.
Obama can get a lot done, but he simply has to realize that leaving everything up to pelosi is just going to result in disaster after disaster.
1. Stimulus Bill - 57% now say they dont like it. Who crafted that? Pelosi. He got it through because of timing, etc. But it was rammed through.
2. Cap & Trade? Waxman and Pelsoi rammed that through the house the same way and most people are against it.
3. Health Bill - same thing only people are not going to go for a "Third time is a charm".
If Obama does not want to be a one term president, he will ened to reclaim the agenda from Pelosi and actually pursue centrist policies, not radical social engineering in the model of what pelosi/waxman/frank/ et al desire.
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I did not say you personally. I was referring more to the likes of Decker, Lurker, Benny.
why would you reply to me and not them on it? Clearly I was in the scope of that comment. I really don't care about the rest of what you posted.
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why would you reply to me and not them on it? Clearly I was in the scope of that comment. I really don't care about the rest of what you posted.
Damn bro. You seem really pissed off lately.
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I did not say you personally. I was referring more to the likes of Decker, Lurker, Benny.
Hugo - you know what? The health plan did not havwe to end like this provided it was started the way it did. Obama seems to me not someone who is a leader. He gives everything off to Pelosi, lets her craft some crazy shit, then he has to defend the indefensible.
Obama can get a lot done, but he simply has to realize that leaving everything up to pelosi is just going to result in disaster after disaster.
1. Stimulus Bill - 57% now say they dont like it. Who crafted that? Pelosi. He got it through because of timing, etc. But it was rammed through.
2. Cap & Trade? Waxman and Pelsoi rammed that through the house the same way and most people are against it.
3. Health Bill - same thing only people are not going to go for a "Third time is a charm".
If Obama does not want to be a one term president, he will ened to reclaim the agenda from Pelosi and actually pursue centrist policies, not radical social engineering in the model of what pelosi/waxman/frank/ et al desire.
33386.
Obama agrees with Nancy Pelosi 100 %
People are now seeing the real Obama, and are starting to realize that he is not the "hope and change" he pretended to be.
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Damn bro. You seem really pissed off lately.
no, I totally enjoy the fact that everything is 99% lies and deception.
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no, I totally enjoy the fact that everything is 99% lies and deception.
i enjoy it too. ;D