livendive 8 #26 September 29, 2008 QuoteQuoteWhat an incredibly perfect backdrop for this vote. Blues, Dave Ya. That's a shopped pic btw. But the media never flavors the reporting towards the mood of fear, eh? I kinda suspected it might be shopped, just because of the lighting, but it still evokes exactly the right sentiment. Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
Misslmperfect 0 #27 September 29, 2008 okay....i am very interested/concerned/worried about the current economic situation. however, i'm pretty uneducated about how it all works, and what the repercussions of the various possible solutions will be. is there a website/book/, or one of you who are obviously more knowledgeable about this than i am, out there who can sum up the basics of what's going on in words a non-economist can understand? i pick up some stuff on NPR and the like, but i just don't fully get it. help? Oh Canada, merci pour la livraison! Quote Share this post Link to post Share on other sites
livendive 8 #28 September 29, 2008 QuoteQuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. what facts? that McCain tried to stop this with a bill in 2005, but in 2006 the dem controlled congress kick it out. The simplest of fact checking shows the Republicans controlled the House and the Senate in 2005 and 2006. So tell us again why this didn't pass in 2005 or 2006. Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
krabberkris 1 #29 September 29, 2008 SWEEP THE HILL..... Toss THEM ALL OUT !!! http://tinyurl.com/tossemoutThe man who smiles when things go wrong has thought of someone to blame it on. Quote Share this post Link to post Share on other sites
marks2065 0 #30 September 29, 2008 QuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. -------------------------------------------------------- you mean like this? http://journals.aol.com/skip3366/TheMaverickConservative/entries/2008/09/16/mccain-proven-right-federal-housing-regulatory-reform-act-of-2005/4758 Quote Share this post Link to post Share on other sites
birdlike 0 #31 September 29, 2008 QuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! Come on, admit it. You all, like me, were fooled for a minute into thinking that the shitbag lying fucking pricks in our congress were actually going to work together for the good of our country for once! (Those pricks are male and female, in case you wondered.) Business as fucking usual. I hate them all.Spirits fly on dangerous missions Imaginations on fire Quote Share this post Link to post Share on other sites
masterblaster72 0 #32 September 29, 2008 QuoteOr jump in front of a train! www.dailymail.co.uk/news/article-1063356/Credit-crunch-banker-leaps-death-express-train.html Call me a heartless bastard but I dont feel sorry for this guy. I don't feel sorry for him either. I do feel sorry for his kid and wife though (and the train conductor who unwittingly hit him). He did the honorable thing because thousands of lives have been turned upside down as a result of poor, greedy decisions on the part of people like him. Assuming he did this out of inability to live with the consequences of his actions, he did the right thing. More guilty finance types should follow suit like lemmings jumping off a cliff and the government should confiscate their assets. That's where we should be getting the bailout money -- not from the middle-class taxpayers. Be humble, ask questions, listen, learn, follow the golden rule, talk when necessary, and know when to shut the fuck up. Quote Share this post Link to post Share on other sites
Ron 10 #33 September 29, 2008 Quote Is it that you think the bailout will not work? I don't think anyone is sure it will work. Quotesets a bad precedent? I think it does set a bad precedent. I am not a big fan of big government and I am not a big fan of messing with the natural market forces. This could very well just delay, or even lengthen the fall....While at the same time adding to the National debt. All of it is very complex and not something I think should be rushed into. I don' t like the idea of fat cats getting golden parachutes for bad performance. I don't like the idea of no oversight...But I don't like the idea of oversight by bunch of politicians with little economics background either. Your thoughts?"No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334 Quote Share this post Link to post Share on other sites
livendive 8 #34 September 29, 2008 Quote this bailout failure is totally on the dem's. Wow, your logic amazes me. 60% of the Democrats voted for it, less than 33% of the Republicans voted for it, and somehow all the blame for it not passing is on the Democrats. Quote i guess we shouldn't expect anything of value from the DO NOTHING CONGRESS. Does anyone else see the irony in this sort of "insult" from a so-called conservative? Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
piper17 1 #35 September 29, 2008 Because there are crooks on both sides of the aisle. Again, look at who got the contributions from Fannie Mae; while the Dems topped the list (Dodd followed by Obama), there were plenty of GOP members filling their campaign coffers (and pockets) as well. I will say that McCain is way, way, way down the list. Also, it was Palin who took on the corrupt GOP politicians in Alaska and drove them from office. I haven't seen anyone on the left do likewise."A man can never have too much red wine, too many books, or too much ammunition"...Rudyard Kipling Quote Share this post Link to post Share on other sites
marks2065 0 #36 September 29, 2008 the dem's control congress and they don't even like the bill. sounds pretty bad for us if they can't even work together. Quote Share this post Link to post Share on other sites
livendive 8 #37 September 29, 2008 Quote Also, it was Palin who took on the corrupt GOP politicians in Alaska and drove them from office. That's a nice soundbite, and I'm sure it rolls easily off the tongue (or fingertips), but I haven't seen the slightest reason to believe she's any better than her predecessor. But don't forget she also "took on Big Oil" . . . by raising taxes on them. You know, like Obama wants to do but McCain doesn't? Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
birdlike 0 #38 September 29, 2008 Dems did not come into control of Congress saying they would work with the Republicans. They came into Congress saying that finally they would undo all of what the Republican Congress had done because it was bad. The plan was to do what the Democrats wanted and what they believed their voters wanted, NOT to do what was best for the country with bipartisanship in mind. Clearly. The joke is, they haven't been able to fulfill their own promises. Seems they forgot that you can't do all of those things with a slim majority and a president who's in the other party. Such smart people, those Democrats. Such distance of vision! Spirits fly on dangerous missions Imaginations on fire Quote Share this post Link to post Share on other sites
livendive 8 #39 September 29, 2008 Quote 205 YAH 228 NAY with 1 no vote. I am soooo happy this got shot down. You should give 100% of the credit for that to the Democrats. Just ask marks2065 if you want to know why. Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
Ron 10 #40 September 29, 2008 What possible good did she think she could get out of this? http://www.breitbart.tv/html/184803.html"No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334 Quote Share this post Link to post Share on other sites
crwtom 0 #41 September 29, 2008 Quote205 YAH 228 NAY with 1 no vote. I am soooo happy this got shot down. Now we sit back and wait for the next bullshit idea that will cost the taxpayers billions. be happy about this: Dow 10,510.09 -633.04 (-5.68%) Nasdaq 2,020.62 -162.72 (-7.45%) S&P 1,121.16 -92.11 (-7.59%) and the day is not over yet and there's more crap to come tomorrow. In a couple of hours my retirement funds were decreased by over $10,000 and there will be many in much worse condition. Thank you very much !!!!! Cheers, T ******************************************************************* Fear causes hesitation, and hesitation will cause your worst fears to come true Quote Share this post Link to post Share on other sites
christelsabine 1 #42 September 29, 2008 QuoteWhat possible good did she think she could get out of this? http://www.breitbart.tv/html/184803.html dudeist skydiver # 3105 Quote Share this post Link to post Share on other sites livendive 8 #43 September 29, 2008 QuoteWhat possible good did she think she could get out of this? http://www.breitbart.tv/html/184803.html I only got 2 minutes into it. That was enough partisanship for me. Somehow I doubt she was alone in being so divisive today, but I don't consider "everybody else is doing it" to be an excuse with any more validity than CDIF. Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites Casurf1978 0 #44 September 29, 2008 Rough is an understatement. Did you even pay attention to what Buffet said. He just might know what he's talking about. If this bill doesn't pass we will be looking at an economic melt down. I hate the idea of government intervention, but in this case just like back in the 1930's it is needed. Quote Share this post Link to post Share on other sites kallend 2,027 #45 September 29, 2008 QuoteQuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. what facts? that McCain tried to stop this with a bill in 2005, but in 2006 the dem controlled congress kick it out. Yes this problem went unchecked under bush but that doesn't mean that the clinton era didn't start filling the baloon. The blame falls across the board but it is time for the dem's to start pointing fingers at themselves also. this bailout failure is totally on the dem's. they can't even agree with themselves on this issue. i guess we shouldn't expect anything of value from the DO NOTHING CONGRESS. Mark, Please produce evidence that loans to low income people (as defined in that article) are the cause of THIS crisis. No-one forced investment banks to buy "securitized" loans as a result of those changes. No-one forced ratings agencies to give those packages AAA ratings when they were full of junk. No-one forced mortgage brokers to push loans on people who couldn't pay (often fraudulently). Nothing in those 1999 changes made high income people overextend on 2nd and 3rd homes, huge homes, or investment properties. They weren't being snapped up by the low income folks. That article is a transparent attempt to shift blame from where it is due.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites ChasingBlueSky 0 #46 September 29, 2008 From http://www.fivethirtyeight.com/2008/09/swing-district-congressmen-doomed.html Quote Among 38 incumbent congressmen in races rated as "toss-up" or "lean" by Swing State Project, just 8 voted for the bailout as opposed to 30 against: a batting average of .211. By comparison, the vote among congressmen who don't have as much to worry about was essentially even: 197 for, 198 against. A complete breakdown follows below the fold. REPUBLICANS AK-AL Young R NAY CO-4 Musgrave R NAY CT-4 Shays R YEA FL-8 Keller R NAY FL-21 L Diaz-Balart R NAY FL-24 Feeney R NAY FL-25 M Diaz-Balart R NAY ID-1 Sali R NAY IL-10 Kirk R YEA MI-7 Walberg R NAY MI-9 Knollenberg R NAY MO-6 Graves R NAY NC-8 Hayes R NAY NV-3 Porter R YEA NY-29 Kuhl R NAY OH-1 Chabot R NAY OH-2 Schmidt R NAY PA-3 English R NAY VA-2 Drake R NAY WA-8 Reichert R NAY VULNERABLE GOP = 3 YEAS, 17 NAYS (15%) OTHER GOP = 62 YEAS, 116 NAYS (35%) DEMOCRATS AZ-5 Mitchell D NAY AZ-8 Giffords D NAY CA-11 McNerney D YEA FL-16 Mahoney D YEA GA-8 Marshall D YEA IL-14 Foster D YEA IN-9 Hill D NAY KS-2 Boyda D NAY KY-3 Yarmuth D NAY LA-6 Cazayoux D NAY MS-1 Childers D NAY NH-1 Shea-Porter D NAY NY-20 Gillibrand D NAY PA-4 Altmire D NAY PA-10 Carney D NAY PA-11 Kanjorski D YEA TX-22 Lampson D NAY WI-8 Kagen D NAY VULNERABLE DEMS = 5 YEAS, 13 NAYS (28%) OTHER DEMS = 135 YEAS, 82 NAYS (62%) ALL VULNERABLES = 8 YEAS, 30 NAYS (21%) OTHERS = 197 YEAS, 198 NAYS (50%) UPDATE: A helpful reader named Matt Glassman passed along the fact that, among 26 congressmen NOT running for re-election (almost all of whom are Republicans), 23 voted in favor of the bill, as opposed to 2 against and one abstaining._________________________________________ you can burn the land and boil the sea, but you can't take the sky from me.... I WILL fly again..... Quote Share this post Link to post Share on other sites Rookie120 0 #47 September 29, 2008 Quotebe happy about this: Dow 10,510.09 -633.04 (-5.68%) Nasdaq 2,020.62 -162.72 (-7.45%) S&P 1,121.16 -92.11 (-7.59%) Oh well! Shit happens! So you want us tax payers to pay for their losses instead of the market? The people who made the bad decisions? Quoteand the day is not over yet and there's more crap to come tomorrow. Tomorrow? Hell I am waitting for the Asian markets to open and see how they react. QuoteIn a couple of hours my retirement funds were decreased by over $10,000 and there will be many in much worse condition. Thank you very much !!!!! I am in the same boat as you. I have watched some of my stocks nose dive. It's a wave and it will come back. If you really want to get depressed look at your 401K. It will take some time but it will recover. Did everybody die when the market plunged in 1987? No. It will right itself and come back. I believe the Govt sticking there nose in this does nothing but prolong the agony. We need to take out beating and get it over with. The good news is oil dropped over $10 a barrel today. Everytime the Govt says they are here to help oil spikes. Some of the experts are predicting oil is the next thing to crash.If you find yourself in a fair fight, your tactics suck! Quote Share this post Link to post Share on other sites alw 0 #48 September 29, 2008 QuoteRough is an understatement. Did you even pay attention to what Buffet said. He just might know what he's talking about. If this bill doesn't pass we will be looking at an economic melt down. I hate the idea of government intervention, but in this case just like back in the 1930's it is needed. I'd love to get in on this discussion but I've got to go cling to my guns and religion just now. --------------------------------------------- Every day is a bonus - every night is an adventure. Quote Share this post Link to post Share on other sites marks2065 0 #49 September 29, 2008 QuoteQuoteQuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. what facts? that McCain tried to stop this with a bill in 2005, but in 2006 the dem controlled congress kick it out. Yes this problem went unchecked under bush but that doesn't mean that the clinton era didn't start filling the baloon. The blame falls across the board but it is time for the dem's to start pointing fingers at themselves also. this bailout failure is totally on the dem's. they can't even agree with themselves on this issue. i guess we shouldn't expect anything of value from the DO NOTHING CONGRESS. Mark, Please produce evidence that loans to low income people (as defined in that article) are the cause of THIS crisis. No-one forced investment banks to buy "securitized" loans as a result of those changes. No-one forced ratings agencies to give those packages AAA ratings when they were full of junk. No-one forced mortgage brokers to push loans on people who couldn't pay (often fraudulently). Nothing in those 1999 changes made high income people overextend on 2nd and 3rd homes, huge homes, or investment properties. They weren't being snapped up by the low income folks. That article is a transparent attempt to shift blame from where it is due. if the questionable loans were not given, the mortgage backed securities would be stronger, thus relieving some of this mess. so yes this is part of the problem. greed and presure caused this problem and it does not only include wall street greed. the greed on main street is partially to blame along with those that made it possible by putting presure on those that gave out the loans. for someone that is strong on facts you really are trying to exclude some of the most important ones. Quote Share this post Link to post Share on other sites shropshire 0 #50 September 29, 2008 You're no doubt right, the markets will eventually recover and we'll go back to trusting all those Red Braces wearing Dick-heads again, with our hard earned cash..... How stupid are we? (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites Prev 1 2 3 4 5 6 Next Page 2 of 6 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
livendive 8 #43 September 29, 2008 QuoteWhat possible good did she think she could get out of this? http://www.breitbart.tv/html/184803.html I only got 2 minutes into it. That was enough partisanship for me. Somehow I doubt she was alone in being so divisive today, but I don't consider "everybody else is doing it" to be an excuse with any more validity than CDIF. Blues, Dave"I AM A PROFESSIONAL EXTREME ATHLETE!" (drink Mountain Dew) Quote Share this post Link to post Share on other sites
Casurf1978 0 #44 September 29, 2008 Rough is an understatement. Did you even pay attention to what Buffet said. He just might know what he's talking about. If this bill doesn't pass we will be looking at an economic melt down. I hate the idea of government intervention, but in this case just like back in the 1930's it is needed. Quote Share this post Link to post Share on other sites
kallend 2,027 #45 September 29, 2008 QuoteQuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. what facts? that McCain tried to stop this with a bill in 2005, but in 2006 the dem controlled congress kick it out. Yes this problem went unchecked under bush but that doesn't mean that the clinton era didn't start filling the baloon. The blame falls across the board but it is time for the dem's to start pointing fingers at themselves also. this bailout failure is totally on the dem's. they can't even agree with themselves on this issue. i guess we shouldn't expect anything of value from the DO NOTHING CONGRESS. Mark, Please produce evidence that loans to low income people (as defined in that article) are the cause of THIS crisis. No-one forced investment banks to buy "securitized" loans as a result of those changes. No-one forced ratings agencies to give those packages AAA ratings when they were full of junk. No-one forced mortgage brokers to push loans on people who couldn't pay (often fraudulently). Nothing in those 1999 changes made high income people overextend on 2nd and 3rd homes, huge homes, or investment properties. They weren't being snapped up by the low income folks. That article is a transparent attempt to shift blame from where it is due.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
ChasingBlueSky 0 #46 September 29, 2008 From http://www.fivethirtyeight.com/2008/09/swing-district-congressmen-doomed.html Quote Among 38 incumbent congressmen in races rated as "toss-up" or "lean" by Swing State Project, just 8 voted for the bailout as opposed to 30 against: a batting average of .211. By comparison, the vote among congressmen who don't have as much to worry about was essentially even: 197 for, 198 against. A complete breakdown follows below the fold. REPUBLICANS AK-AL Young R NAY CO-4 Musgrave R NAY CT-4 Shays R YEA FL-8 Keller R NAY FL-21 L Diaz-Balart R NAY FL-24 Feeney R NAY FL-25 M Diaz-Balart R NAY ID-1 Sali R NAY IL-10 Kirk R YEA MI-7 Walberg R NAY MI-9 Knollenberg R NAY MO-6 Graves R NAY NC-8 Hayes R NAY NV-3 Porter R YEA NY-29 Kuhl R NAY OH-1 Chabot R NAY OH-2 Schmidt R NAY PA-3 English R NAY VA-2 Drake R NAY WA-8 Reichert R NAY VULNERABLE GOP = 3 YEAS, 17 NAYS (15%) OTHER GOP = 62 YEAS, 116 NAYS (35%) DEMOCRATS AZ-5 Mitchell D NAY AZ-8 Giffords D NAY CA-11 McNerney D YEA FL-16 Mahoney D YEA GA-8 Marshall D YEA IL-14 Foster D YEA IN-9 Hill D NAY KS-2 Boyda D NAY KY-3 Yarmuth D NAY LA-6 Cazayoux D NAY MS-1 Childers D NAY NH-1 Shea-Porter D NAY NY-20 Gillibrand D NAY PA-4 Altmire D NAY PA-10 Carney D NAY PA-11 Kanjorski D YEA TX-22 Lampson D NAY WI-8 Kagen D NAY VULNERABLE DEMS = 5 YEAS, 13 NAYS (28%) OTHER DEMS = 135 YEAS, 82 NAYS (62%) ALL VULNERABLES = 8 YEAS, 30 NAYS (21%) OTHERS = 197 YEAS, 198 NAYS (50%) UPDATE: A helpful reader named Matt Glassman passed along the fact that, among 26 congressmen NOT running for re-election (almost all of whom are Republicans), 23 voted in favor of the bill, as opposed to 2 against and one abstaining._________________________________________ you can burn the land and boil the sea, but you can't take the sky from me.... I WILL fly again..... Quote Share this post Link to post Share on other sites
Rookie120 0 #47 September 29, 2008 Quotebe happy about this: Dow 10,510.09 -633.04 (-5.68%) Nasdaq 2,020.62 -162.72 (-7.45%) S&P 1,121.16 -92.11 (-7.59%) Oh well! Shit happens! So you want us tax payers to pay for their losses instead of the market? The people who made the bad decisions? Quoteand the day is not over yet and there's more crap to come tomorrow. Tomorrow? Hell I am waitting for the Asian markets to open and see how they react. QuoteIn a couple of hours my retirement funds were decreased by over $10,000 and there will be many in much worse condition. Thank you very much !!!!! I am in the same boat as you. I have watched some of my stocks nose dive. It's a wave and it will come back. If you really want to get depressed look at your 401K. It will take some time but it will recover. Did everybody die when the market plunged in 1987? No. It will right itself and come back. I believe the Govt sticking there nose in this does nothing but prolong the agony. We need to take out beating and get it over with. The good news is oil dropped over $10 a barrel today. Everytime the Govt says they are here to help oil spikes. Some of the experts are predicting oil is the next thing to crash.If you find yourself in a fair fight, your tactics suck! Quote Share this post Link to post Share on other sites
alw 0 #48 September 29, 2008 QuoteRough is an understatement. Did you even pay attention to what Buffet said. He just might know what he's talking about. If this bill doesn't pass we will be looking at an economic melt down. I hate the idea of government intervention, but in this case just like back in the 1930's it is needed. I'd love to get in on this discussion but I've got to go cling to my guns and religion just now. --------------------------------------------- Every day is a bonus - every night is an adventure. Quote Share this post Link to post Share on other sites
marks2065 0 #49 September 29, 2008 QuoteQuoteQuoteQuoteQuoteI am watching live the vote for the financial bailout and the no vote had been given! More to come! it really sucks that the dems need to bail themselves out at our expence. if it wasn't for clinton starting this shit we would not be here today. this news article puts blame were and when it should be put. http://newsbusters.org/blogs/p-j-gladnick/2008/09/25/1999-ny-times-article-revealed-true-cause-current-fannie-mae-crises i don't know how to make it a clicky sorry. but this is good reading. Pity that theory has been totally discredited by the facts of this crisis. what facts? that McCain tried to stop this with a bill in 2005, but in 2006 the dem controlled congress kick it out. Yes this problem went unchecked under bush but that doesn't mean that the clinton era didn't start filling the baloon. The blame falls across the board but it is time for the dem's to start pointing fingers at themselves also. this bailout failure is totally on the dem's. they can't even agree with themselves on this issue. i guess we shouldn't expect anything of value from the DO NOTHING CONGRESS. Mark, Please produce evidence that loans to low income people (as defined in that article) are the cause of THIS crisis. No-one forced investment banks to buy "securitized" loans as a result of those changes. No-one forced ratings agencies to give those packages AAA ratings when they were full of junk. No-one forced mortgage brokers to push loans on people who couldn't pay (often fraudulently). Nothing in those 1999 changes made high income people overextend on 2nd and 3rd homes, huge homes, or investment properties. They weren't being snapped up by the low income folks. That article is a transparent attempt to shift blame from where it is due. if the questionable loans were not given, the mortgage backed securities would be stronger, thus relieving some of this mess. so yes this is part of the problem. greed and presure caused this problem and it does not only include wall street greed. the greed on main street is partially to blame along with those that made it possible by putting presure on those that gave out the loans. for someone that is strong on facts you really are trying to exclude some of the most important ones. Quote Share this post Link to post Share on other sites
shropshire 0 #50 September 29, 2008 You're no doubt right, the markets will eventually recover and we'll go back to trusting all those Red Braces wearing Dick-heads again, with our hard earned cash..... How stupid are we? (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
