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?
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.
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.
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.
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.
^ 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.
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.
“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.
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.
believecommonsense over 14 years ago
He can’t sell the series unless Paulson is on it too.
webdoc over 14 years ago
Talk about a balloon payment!
bradwilliams over 14 years 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.
charliekane over 14 years ago
Comrade Scottie?
Simon_Jester over 14 years 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.
believecommonsense over 14 years 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.
Dtroutma over 14 years 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.
petergrt over 14 years 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.
believecommonsense over 14 years 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.
petergrt over 14 years 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.
petergrt over 14 years 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.
petergrt over 14 years 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.
believecommonsense over 14 years ago
petergrt, c’mon you have no comment on the info MKitt provided?