actually, who screwed the economy

Mike Gaskey

Barney Frank and Chris Dodd, Democrats fully responsible for the mortgage melt down. Chris Cox, Republican responsible for not exercising his responsibilities for SEC oversight - minimally, mortgage backed securities and Bernie Madoff (whose ponzi scheme was brought to Cox's attention years ago and he chose not to dig in).

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

Mike Gaskey

Sahir Shah wrote:

Ah! it's a world jewry , catholic conspiracy !!!! many thanks! sieg heil to you my friend.

who the fuck cares about their religion? read the news dumbass.

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

oilFactotum

Congress has been in the hands of the R's for most of that time, besides which what does the Federal budget have to do with anything? I can't believe your still holding to that fantasy that the FM's caused the finacial collapse.

oilFactotum

Mike Gaskey wrote:

Barney Frank and Chris Dodd, Democrats fully responsible for the mortgage melt down.

:laugh: Utter hogwash. Republicans controlled both houses and the executive for most of the past 8 years. This did not happen overnight.

Mike Gaskey

oilFactotum wrote:

This did not happen overnight

nope, sure didn't. it started with Clinton but I thought your head would explode if I brought that up.

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

MrPlankton

oilFactotum wrote:

Congress has been in the hands of the R's

The administration wanted to make changes to FM, prevent them from making and selling toxic loans Barney Frank [^]and Chris Dodd where on oversight. The FM's were the trigger, but if US debt wasn't so great (budget) then the current disaster would not be so pronounced. Remember China and Saudi Arabia said that they would stop buying US debt if AIG went under (AIG insures loans which includes mortgages). If they stopped buying US debt government runs out of money.

MrPlankton

Multicultural Diversity Training, the new Socialist Reeducation Camp-light.

modified on Wednesday, January 14, 2009 3:04 PM

vaghelabhavesh

Mike Gaskey wrote:

Barney Frank Chris Dodd Chris Cox

Who are they?

Mike Gaskey

Frank - Democrat, congressman. Pushed relentlessly for "easy" to get mortgages. Exercised a great deal of influence over Freddie Mac and Fannie Mae "encouraging" both to uderwrite loans that no intelliegient loan officer would make otherwise. Chris Dodd - Democrat, senator. Did the same thing as Frank but in the senate. Chris Cox - Republican, head guy at the Security Exchange Commission, responsible for, well, overseeing trading activity. The really poorly underwritten mortgages were bundled into derivatives that were actively traded. A significant percentage of these are so bad that they're called toxic. Problem is, when you have no kowledge of the specifics of the derivatives (good or toxic mortgages) then all are considered bad. There was also a new rule in place that required financial instituitions to value their assets at market value (not their cost, but the $ amount they could get by selling at some point in time). When the toxic nature of the financial instruments surfaced these instituitions could no longer make loans because their asset base had shrunk dramatically.

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

vaghelabhavesh

So 2 Democrats and 1 Republican, then why there is majority of Democrats in senate? :-)

BoneSoft

Don't forget the shmuck that thought the CRA wasn't enough and started the sub-prime mortgage. And the other schmucks that blocked reform of Freddy and Fannie. But you have it right, and you named the biggest reform blockers.

Visit BoneSoft.com for code generation tools (XML & XSD -> C#, VB, etc...) and some free developer tools as well.

BoneSoft

BS. But when Obama starts tearing down the demoncracy, we'll see if you hold them to the same standard or continue to blame all the world's ills on the GWB 8 years.

Visit BoneSoft.com for code generation tools (XML & XSD -> C#, VB, etc...) and some free developer tools as well.

Mike Gaskey

crudeCodeYogi wrote:

So 2 Democrats and 1 Republican, then why there is majority of Democrats in senate?

an uneducated electorate and a media that is way to the left, down playing anything a Democrat does wrong while shouting from the roof tops when a Republican does the same thing.

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

BoneSoft

Really[^]? Count up the number of "R"s in front of the names blocking FM reform, or thos with selective memory of the past.

oilFactotum wrote:

This did not happen overnight.

Right, but it couldn't have been more than 8 years... Right? :rolleyes:

Visit BoneSoft.com for code generation tools (XML & XSD -> C#, VB, etc...) and some free developer tools as well.

BoneSoft

Mike Gaskey wrote:

an uneducated electorate and a media that is way to the left

I wish I could give you more than 5. Succinct and precise.

Visit BoneSoft.com for code generation tools (XML & XSD -> C#, VB, etc...) and some free developer tools as well.

Oakman

oilFactotum wrote:

This did not happen overnight.

Nor did it happen in just the last eight. It can be traced back to the Clinton years quite easily. Which is not to say that the Bush Aministration's commitment to deregulation did not exacerbate the problem tremendously. Ultimately it goes back to Nixon who destroyed the last connection between a dollar bill and anything of value. Once money was money only because the Secretary of the Treasury said it was, the American economy was royally frucked.

Jon Smith & Wesson: The original point and click interface

Oakman

Mike Gaskey wrote:

down playing anything a Democrat does wrong while shouting from the roof tops when a Republican does the same thing.

That doesn't mean the Republicans should get a pass, too, but that the Democrats should be held to a higher standard, right? It appears to me that both parties cooperated to create this mess and they both will cooperate to make sure that whatever changes there are, Government will have more power over our lives, and we will have less. Demmicans and Republicrats - birds of a feather fluck the public together.

Jon Smith & Wesson: The original point and click interface

Ilion

Mike Gaskey wrote:

it started with Clinton but I thought your head would explode if I brought that up.

I goes back at least as far as the Carter years; it was ramped up under Clinton.

MrPlankton

Sahir Shah wrote:

things are getting worse day by day.

How are things getting worse? What's happening over there?

MrPlankton

Multicultural Diversity Training, the new Socialist Reeducation Camp-light.

Mike Gaskey

Oakman wrote:

That doesn't mean the Republicans should get a pass, too, but that the Democrats should be held to a higher standard, right?

Who said that? You commented on my answer to a question posited regarding why Democrats now control congress, my answer was accurate.

Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.

oilFactotum

Mike Gaskey wrote:

it started with Clinton

No, it started before that, but so what? Bush and the R's had the last 8 years to to something about it and did not. It is simply absurd to put the blame on a couple of democrats. While completely ignoring the fact that it was the big players who leveraged their securitized debt 25 fold. No one forced them to. They had the money and the power.