View Full Version : Bloomberg - How the Democrats Created the Financial Crisis
G-Real
09-30-2008, 02:34 AM
^^^ what's to be made of that speech is ...
A. GWB is a liberal when it comes to fiscal policy ... a position shared by some other Republicans
B. Successful 'community organizers' i.e.: Lets throw another one in there while your at it, American Patriot Party....
it scares me that some people here want to rever to late 19th century capiltalism, with 6-7 day work weeks, child labor.....
Eric Stoner
09-30-2008, 08:50 AM
"Birds of a feather..."
I'm holding my own in the former activity but he's been a LOT better at cashing in than I have. Maybe it's because I've had a LOT less "splainin" to do.
Eric Stoner
09-30-2008, 08:57 AM
Why are you stuck on the work 'commodity'? The CFMA also kept the derivative market unregulated. Try reading up on credit derivative swaps, you may find it enlightening (or maybe not). Here's a starting point (http://www.huffingtonpost.com/sheila-tendy/the-plot-thickens---detai_b_128107.html) for you.
I AGREE with You ! You are RIGHT; CORRECT; SPOT ON. You nailed it; aced it and get an A+. Credit derivatives; credit default swaps and the like were left UNREGULATED. But the issuers and investors were not exactly in a totally clear area. What Cox could have done was limit the leveraging and /or enlist the NYSE and other exchanges to do likewise. What have the Dems done to regulate them ? The markets are regulating them. Nobody with a brain will buy them.
Eric Stoner
09-30-2008, 09:43 AM
Lets throw another one in there while your at it, American Patriot Party....
it scares me that some people here want to rever to late 19th century capiltalism, with 6-7 day work weeks, child labor.....
WHO ? Who wants that ?
Eric Stoner
09-30-2008, 09:49 AM
Why are you stuck on the work 'commodity'? The CFMA also kept the derivative market unregulated. Try reading up on credit derivative swaps, you may find it enlightening (or maybe not). Here's a starting point (http://www.huffingtonpost.com/sheila-tendy/the-plot-thickens---detai_b_128107.html) for you.
Btw, are you seriously claiming that we'd have any financial "crisis" at all without
Fannie and Freddie ?
You keep chirping about "deregulation" but the deregulation would have had nothing to aggravate if Fannie and Freddie did not generate the bad paper based on bad mortgages in the first place.
Btw, what the hell is the Government doing in the mortgage business in the first place ?
Miss_Luscious
09-30-2008, 09:49 AM
WHO ? Who wants that ?
Deregulators.
Eric Stoner
09-30-2008, 10:13 AM
Deregulators.
It wouldn't surprise me all that much if a few extremists would like to see a return to "robber-baron" capitalism. Most of us just want government to stay out of the way of the economy as much as possible EXCEPT where there is a legitimate need for regulation and oversight- child labor; workplace health and safety; product safety etc.
Shocking Video Unearthed Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis
Video shows how Democrats are strongly against regulations in Fannie Mae and Freddie Mac while Republicans are advocating more regulations.
Democratic represntative Maxine Waters: We do not have crisis in Freddie Mac and in particularly in Fannie Mae.
Richard_Head
09-30-2008, 07:29 PM
It wouldn't surprise me all that much if a few extremists would like to see a return to "robber-baron" capitalism. Most of us just want government to stay out of the way of the economy as much as possible EXCEPT where there is a legitimate need for regulation and oversight- child labor; workplace health and safety; product safety etc.Hate to break it to you but we've already returned to "robber-baron" capitalism.
Richard_Head
09-30-2008, 07:33 PM
I AGREE with You ! You are RIGHT; CORRECT; SPOT ON. You nailed it; aced it and get an A+. Credit derivatives; credit default swaps and the like were left UNREGULATED. But the issuers and investors were not exactly in a totally clear area. What Cox could have done was limit the leveraging and /or enlist the NYSE and other exchanges to do likewise. What have the Dems done to regulate them ? The markets are regulating them. Nobody with a brain will buy them.They weren't left unregulated, they were unregulated by the CFMA which was designed by Phil Gramm and passed by a republican majority.
Eric Stoner
10-01-2008, 08:08 AM
They weren't left unregulated, they were unregulated by the CFMA which was designed by Phil Gramm and passed by a republican majority.
Stop re-writing history. Where was the regulatory authority oiver credit default swaps PRIOR to the CFMA ? Yes, yes, I know all about Glass- Steagall but all that did was keep Investment and commercial banks separate. Even under Glass-Steagall WHO had regulatory authority over credit default swaps ?
Eric Stoner
10-01-2008, 08:09 AM
Hate to break it to you but we've already returned to "robber-baron" capitalism.
Bullshit ! If we had, there would never have been a CRA; or Fannie and Freddie.