Jim Morin by Jim Morin

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  1. believecommonsense

    believecommonsenseGenius_badge said, about 1 month ago

    He can’t sell the series unless Paulson is on it too.

  2. cvuco

    cvuco said, about 1 month ago

    Talk about a balloon payment!

  3. scottfreitas

    scottfreitasGenius_badge said, about 1 month ago

    Paulson deserves to be on it with him, Believe. They both come from Goldman Sachs aka Goldmen Sex backgrounds.

    I despise Goldmen Sex. They produce nothing, create nothing, manufacture nothing, service nothing, do nothing at all except manipulate markets and literally steal wealth from people by the billions, all while bribing politicians to both write new laws–and revoke old ones–so they have free reign to keep “trading air.”

    They are scum. Lowlifes. Parasites. Any ethical society would yank them out of their leased skyscraper and string them up from the nearest lampost.

    And they are currently one of the Demoncrat Party’s largest contributors…

  4. bradwilliams

    bradwilliamsGenius_badge said, about 1 month ago

    Scott I am suprised at you. What happened to GOP line that the rich got rich by hard work and effort. CEO’s get paid big bucks because they are worth it?

    Scott you almost sound like a socialist.

  5. charliekane

    charliekane said, about 1 month ago

    Comrade Scottie?

  6. Simon_Jester

    Simon_Jester said, about 1 month ago

    You realize scotty, that if we had public financing of political campaigns in this country, ( like us durty traitor libs have been calling for ) we wouldn’t HAVE that problem.

  7. believecommonsense

    believecommonsenseGenius_badge said, about 1 month ago

    they’re all birds of a feather … Goldman Sachs, the former Merrrill Lynch, Lehman Brothers, Bear Stearns, Morgan Stanley, JPMorgan Chase, etc. And since the repeal of Glass-Stegall in 1999 (thanks, Clinton) they’re all in the same infested nest.

  8. dtroutma

    dtroutma said, about 1 month ago

    Is scooter now afraid of gay Jews? The simple fact is that Federal Reserve Board IS the banks, and economists are masters of Three Card Monte, and they all, left and right, created the problem by ignoring it, distorting it, and contributing to it–for personal profit.

    At least casino operators are up front about ripping you off.

  9. petergrt

    petergrt said, about 1 month ago

    It is painful to see that virtually all of you, though you are all intelligent, know squat the importance of Wall Street and the role it payed and continues to play in making our economy function.

    I am not going to defend the criminal affairs dealing with the derivatives that were based upon junk loans that were rated 3A by credit rating agencies.

    I would however like to remind you that it takes enormous amounts of money - capital, to build companies.

    Where do you think HP, Intel, Apple and thousands more, got the capital to create and expand their enterprises that in turn create millions of WEALTH PRODUCING jobs, got it from?

    Government on the other hand does not produce any WEALTH PRODUCING jobs, but rather only WEALTH CONSUMING jobs.

    So, think a little. I know that you can do it. It sometimes maybe hard or even counter to the BS you get from MSM, but give your brain a chance.

  10. believecommonsense

    believecommonsenseGenius_badge said, about 1 month ago

    ^ And you seem to have previously acknowledged the difference between some activities on Wall St. like day trading and short selling and hedge funds, and buying stock in a company as an investment.

    All those mortgage derivative products (CDW, COO, CDO and a bunch of other alphabet nonsense) were intended to create money from what exactly?

    Seems to me the difference is like buying tickets to a major league sports game, with the ticket prices helping to fund the team, and staying home placing bets with a bookie on point spreads. One contributes to the team and one is just trying to make money from gambling.

    Wall St. has really gotten into a legalized form of gambling on side bets.

  11. M Kitt

    M KittGenius_badge said, about 1 month ago

    Depression era “reform” was initially dealt with by complete audit of the banking industry, Federal audits.

    Notice that no audits of any scale have occured in the current meltdown? That’s because none of the banking industry wants to give up their own as being “Insolvent”, and they’ll certainly not confess that their own books are “cooked” and that they’re covering up pending bankruptsy.

    Instead of allowing us to see the extent of the “Insolvency” at the core of our economy, the “Usual Suspects” (GS, AIG, CitiCorp, etc.) that are closely tied to wallstreet investments (and the huge losses there) have closed ranks and refused to disclose their losses.

    This behavior is being supported by this administration based on Greenspan and others’ advice that “Too Big To Fail” institutions would take down the entire economy if allowed to fall.

    Meanwhile we’ve refused to impose regulatory reform (IE Glass Steagall) that would have kept our public monies away from the Wallstreet predators, although Obama has recently “Suggested” reform measures.

    The outcome of all of this is that the U.S. treasury is being sacked instead of allowing the investors on Wallstreet to crash, the reason being that the investment market is now directly tied to home mortgages and other public funds, if Wallstreet falls then the entire system COULD collapse.

    This was by design, Wallstreet is fully aware that they were throwing public funds into risky investments (unregulated derivatives), they knew very well that we’d have no choice but to bail them out if the economy fell since investment banks are now directly tied into the rest of the economy.

    Reform is the only way to prevent this cycle from repeating, regulatory practices HAVE to be applied properly (MINUS the predatory, high risk, high profit allowances.)

    Unregulated derivatives should never have been allowed for, they’re a symptom of the gluttonous profit appetite our market allows and provide the means of covering up corporate loss.

  12. petergrt

    petergrt said, about 1 month ago

    M Kitt:

    Is this really M Kitt, or is it an impersonator?

    Whoever you are, this is the first post under this moniker that actually makes some good points.

    My favored:

    ” … the investment market is now directly tied to home mortgages and other public funds, …”

    Home mortgages have indeed become ‘public funds’.

    With respect to audits, the Republicans have been demanding such for years, primarily of the Fed, and the quasi-public companies such as Fany and Fredy, but have been thus far rebuffed by Democrats.

  13. M Kitt

    M KittGenius_badge said, about 1 month ago

    1983 President Reagan signed the “1982 Futures Trading Act” for derivatives. This was a major feature in the disastrous Reagan-era deregulation of the U.S. economy.

    Deregulation of the investment market is mainstream GOP policy, Clinton (& many others) have played a large part in it since then, of course. Plenty of blame to go around, here’s the history:

    http://tinyurl.com/ylhm42l

    If there’s some presumption on your’ part that Obama has as much (or greater) blame than W Incorporated, that would be yet another completely partisan opinion.

  14. petergrt

    petergrt said, about 1 month ago

    “1983 President Reagan signed the “1982 Futures Trading Act” for derivatives. This was a major feature in the disastrous Reagan-era deregulation of the U.S. economy.”

    That is nonsense!

    This had absolutely nothing to do with the Credit Default Swaps, which are the ‘derivatives’ at the core of the problem.

    0bama’s participation on the financial crises is limited to his actions as ACORN attorney, and as a US Senator, in voting to stop Bush’s and Republican efforts to re-regulate Fany and Fredy. Those are the facts.

    What exactly did Bush do, or didn’t do, that precipitated the financial crises? Facts only, please.

  15. M Kitt

    M KittGenius_badge said, about 1 month ago

    I’ll leave finances alone for the moment and credit him with the bill for Iraq, for starters. His highly questionable authorization of the war profiteering enterprises within Iraq are also easily placed within responsibility of W Incorporated, no-bid contracts are ILLEGAL and will eventually be the subject of further inquiry thru legal channels.

    Oh, and the Katrina gulf states cleanup falls within that venue, further contracts awarded to Cheney’s Haliburton & KBR connections, more no-bid corruption without public approval or consent.

    Costly wars that enrich W’s constituents aren’t just immoral, they’re also paid for in flesh courtesy of our troops.

    Try to convince me that a Dem. in office (Supreme Court interventions aside) would have taken us across the border of Iraq, good luck.

    Regarding the current Healthcare reform proposals,
    Special interests are not the “Public Interests”, hence the name.

    For-profit industry will betray public trust every time as evidenced by the crony political proxies placed in office by the insurance corporations.

  16. M Kitt

    M KittGenius_badge said, about 1 month ago

    GOP RECORD OF DEREGULATION DEMOCRATIC RECORD OF OVERSIGHT

    December 28, 2002: A study by Federal Reserve economists reported homeowners taking advantage of falling interest rates and rising home values to extract $131.6 billion via mortgage refinancings in 2001 and early 2002, while consumers spent some of the money, they saved or invested more of it, according to a study published in the Federal Reserve Bulletin. Homeowners spent an estimated $20.7 billion of the cash for personal items such as cars, vacations or medical services, the study said. [Chicago Tribune, 12/28/02]

    May 2002: Senator Sarbanes introduces the Predatory Lending Consumer Protection Act of 2002. [S. 2438]

    November 2003: Senator Sarbanes, introduces the Predatory Lending Consumer Protection Act of 2003. [S. 1928]

    February 23, 2004: Instead of heeding warnings, Federal Reserve leadership promotes non-traditional mortgages over fixed rate products in a speech to the Credit Union National Association annual conference. “American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.the traditional fixed-rate mortgage may be an expensive method of financing a home.” [Remarks By Federal Reserve Chairman Alan Greenspan, 2/23/04]

    October 8, 2003: Bush administration objected to a proposal to have an independent regulator of Fannie Mae and Freddie Mac be an independent unit of Treasury, much like financial regulators housed in the agency that oversee banks and thrifts. The Bush administration also objected to a proposal to have the Department of Housing and Urban Development have oversight over the companies’ business activities. The independence provision has broad support from committee Democrats and Republicans. The HUD provision was pushed mostly by Democrats but had been accepted by Oxley and Baker as a compromise needed to move the bill forward. [Washington Post, 10/8/03]

    February 24, 2004: At a Senate Banking Committee hearing, Norman Rice, President and CEO of the Federal Home Loan Bank of Seattle questioned having low-income Americans use ARM’s to finance their homes. In addition, Senator Sarbanes questioned the Federal Reserve’s promotion of alternative mortgage products over traditional fixed rate mortgages:


    • Norman Rice: “Particularly if you’re talking about serving an underserved constituency. Adjustable rate mortgages for a low income constituency is a nightmare.”


    • Senator Sarbanes: “[The Federal Reserve] is pushing adjustable rate mortgages, and throwing this risk back on the consumer.” [Senate Banking Committee Transcript, 2/25/04]


    June 30, 2004: After encouraging the use of non-traditional mortgages, many of which re-set with rising interest rates, the Federal Reserve begins to raise rates-17 consecutive, 25 basis point increases that take the Federal Reserve Funds rate from a 46-year low of 1 percent in June 2004 to 5.25 percent in June 2006. [Market News International, 4/29/08]

    October 26, 2005: House of Representatives passed regulation reforming the GSE’s. The bill passed the House 331-90 (Republicans: 209-15; Democrats: 122-74), and would have given the new regulator broad authority over setting capital requirements and limiting portfolio size. Senate Democrats picked that bill up and offered it, but the Administration opposed that legislation. According to Mr. Oxley, the White House gave Congress and the GSE reform legislation “a one-finger salute.”

  17. petergrt

    petergrt said, about 1 month ago

    M Kitt:

    Now I know that it is really you and not an impersonator.

    You didn’t answer my very simple question, requiring a simple, uncomplicated answer.

    In stead, you give us a pile of incoherent and unsubstantiated BS and some selective legislative record. You hate Bush, you hate Republicans. We got it.

    I’ll have to revert to my previous position on you rants, and not dignify them with a comment.

  18. believecommonsense

    believecommonsenseGenius_badge said, about 1 month ago

    petergrt, c’mon you have no comment on the info MKitt provided?

  19. M Kitt

    M KittGenius_badge said, about 1 month ago

    Yeah, BCS. By narrowly confining his selection of what my reply SHOULD have been Pete discounts anything he can’t answer.