You print a pile of money and put it in the center the table in the middle of a room with only 3 people in this room. US Tax payers, The Federal Gov, and WALL STREET. Turn out the lights and who and what is missing when you turn the lights back on?
Hmm… my guess is the Tax payers are still there and the Feds are scratching their heads and Wall street is no where to be found.
Lets just look at the players We have Idiot Senator Chris Dodd and House Homosexual Bwarney Fwank in one Corner to protect our interests from wallstreet and big banks. In the other corner we have Goldman Sachs with new stockholder Warren Buffet along with Obama’s new best non tax paying friend Jeffrey Immelt of GE and a host of corporate lobiest’s. I am feeling really good about our interests arent you?
Don’t you read and comprehend? The cause was pure arrogance and greed by Wall Street that packaged and then churned these worthless securities. this has nothing to do with Dodd and Barney but solely with unmitigated contempt for all who were not Wassw Street insiders. If you STILL believe this, you are not the woman I think you are but are drinking the Kool Aid still.
My question now is: Who compensates all the hardwroking taxpayers who lost their homes, lost their jobs, lost their retirement savings, and who are still underwater on their mortgages?
Mr. Watcher, It might not be a matter of comprehension but rather what you read that matters. Stop reading US Today, New York Times, etc and you might find that it is you that is drinking the Kool Aid.
Hmmmmmm…Where did Wall street get their mortgage backed securities from, What congressional committies were charged by congress to over see these entities? Who where the chairmen of these committies? Hmmmmmmm… Senate – Dodd, and the House- Frank.
Watcher, I guess the community reinvestment act, Fannie Mae and Freddie Mac’s pushing for the giving of loans to underpriveledged (which means people who cannot pay back their loans) people who didnt have a down payment, or even a job. Yes, Watcher Fannie and Freddie bundled these loans up and put them on wall street with the help of AIG and firms like Goldman Sachs, Bank of America and all the top TARP receipiants in the form of Mortgaged back securities. The problem with AIG, Those guys went global with their sale of Sh*t. We were talking total global meltdown. Follow the money all the way back to Fannie and Freddie which taxpayers have funded and continue to fund to the tune of hundreds of billions of dollars. YES, Watcher What a deal Dodd and Fannie Mae Fwank were overseeing their manufactuering of financial crap that they put on the street. The Community reinvestment act was just the begining of this fiasco and wall streets greed was just their to pass the buck to the tax payer in the end. Bush’s TARP plan seems to be working alot better than Obama’s Stimulas.
With regards to all these hard working taxpayers who lost their homes, lost their jobs and (I dont know how with the Dow where it is), their retirement savings. THEY ARE ADULTS! THEY SHOULDNT HAVE BOUGHT A HOUSE WITHOUT A DOWN PAYMENT OR A JOB!
Sarah
Your true colors show. You are the perfect propaganda foil for the misinformed right. The issue, when the housing act was originally passed, was that the banks were discriminating against minority mortgage seekers…the act was designed to prevent that occurring…many minorities could not get mortgages in suburban areas or city neighborhoods due to rife discrimination, redlining, and desire of suburbs to keep out minorities. And that DID happen…OFTEN…to minorities that had good jobs and good credit. Obviously, you don’t remember the 70’s when this occurred. The abuses after that bill were perpetrated by unscrupulous realtors who flipped whole neighborhoods,put people into impossible ARMS (don’t you remember that foreclosure wave in the 70’s?), and helped caused the phenomenon of white flight, gave credence to the tipping theory, etc. The fact remians, it was still mortgage banketrs and brokers that made the loans this time and then. Why not adopt Nancy reagan’s slogan and JUST SAY NO to unqualified buyers? AH…But there was too much money to be made…via collusion to accept these loans from the top (think BIG BUCKS BONUSES to PRODUCTION INCENTIVES) on down. But your theory is some middle class joe just simply duped all these high powered financiers….and Barney Frank forced them at gunpoint to make these unacceptable loans.
And, if these loans were so crummy, where is the ethics of a Goldman Sachs in packaging these and repackaging these and then lying to the purchasers about the true quality? This was just a big game to these guys. Lots of yuks while they raked in the millions in bonuses while full well knowing they were frauding everyone else.
The fallout from the inflation of these worthless instruments that were churned and churned at ever increasing value (and, ever increasing commissions to the GS’s of the world) cuased many, many more people to face foreclosure after jobs evaporated due to the scare of financial meltdown. Not everyone who gets in financial trouble has done something wrong. But of course, you are perfect and do everything right all the time….a true paragon to political and financial virtue, our Sarah. Try some humility now and then…..but for the grace of God go I.
You show your true colors when you cast “underprivileged” as the cause of this mess. That you opt to use that word in what can only be a demeaning context reveals who you are. You blame the poor schlep who just wanted a piece of the American dream, and absolve the brilliant financiers who makes millions of dollars in bonuses annually (so they must be brilliant, right?) from any culpability whatsoever. Who is the greater abuser here? Get your facts straight lady, and stop fulminating class warfare against the middle class. Just because you speak loudly (and WAY TOO OFTEN) and carry a big stick, doesn’t make you right.
You print a pile of money and put it in the center the table in the middle of a room with only 3 people in this room. US Tax payers, The Federal Gov, and WALL STREET. Turn out the lights and who and what is missing when you turn the lights back on?
Hmm… my guess is the Tax payers are still there and the Feds are scratching their heads and Wall street is no where to be found.
Lets just look at the players We have Idiot Senator Chris Dodd and House Homosexual Bwarney Fwank in one Corner to protect our interests from wallstreet and big banks. In the other corner we have Goldman Sachs with new stockholder Warren Buffet along with Obama’s new best non tax paying friend Jeffrey Immelt of GE and a host of corporate lobiest’s. I am feeling really good about our interests arent you?
Sarah
Don’t you read and comprehend? The cause was pure arrogance and greed by Wall Street that packaged and then churned these worthless securities. this has nothing to do with Dodd and Barney but solely with unmitigated contempt for all who were not Wassw Street insiders. If you STILL believe this, you are not the woman I think you are but are drinking the Kool Aid still.
My question now is: Who compensates all the hardwroking taxpayers who lost their homes, lost their jobs, lost their retirement savings, and who are still underwater on their mortgages?
Mr. Watcher, It might not be a matter of comprehension but rather what you read that matters. Stop reading US Today, New York Times, etc and you might find that it is you that is drinking the Kool Aid.
Hmmmmmm…Where did Wall street get their mortgage backed securities from, What congressional committies were charged by congress to over see these entities? Who where the chairmen of these committies? Hmmmmmmm… Senate – Dodd, and the House- Frank.
Watcher, I guess the community reinvestment act, Fannie Mae and Freddie Mac’s pushing for the giving of loans to underpriveledged (which means people who cannot pay back their loans) people who didnt have a down payment, or even a job. Yes, Watcher Fannie and Freddie bundled these loans up and put them on wall street with the help of AIG and firms like Goldman Sachs, Bank of America and all the top TARP receipiants in the form of Mortgaged back securities. The problem with AIG, Those guys went global with their sale of Sh*t. We were talking total global meltdown. Follow the money all the way back to Fannie and Freddie which taxpayers have funded and continue to fund to the tune of hundreds of billions of dollars. YES, Watcher What a deal Dodd and Fannie Mae Fwank were overseeing their manufactuering of financial crap that they put on the street. The Community reinvestment act was just the begining of this fiasco and wall streets greed was just their to pass the buck to the tax payer in the end. Bush’s TARP plan seems to be working alot better than Obama’s Stimulas.
With regards to all these hard working taxpayers who lost their homes, lost their jobs and (I dont know how with the Dow where it is), their retirement savings. THEY ARE ADULTS! THEY SHOULDNT HAVE BOUGHT A HOUSE WITHOUT A DOWN PAYMENT OR A JOB!
Sarah
Your true colors show. You are the perfect propaganda foil for the misinformed right. The issue, when the housing act was originally passed, was that the banks were discriminating against minority mortgage seekers…the act was designed to prevent that occurring…many minorities could not get mortgages in suburban areas or city neighborhoods due to rife discrimination, redlining, and desire of suburbs to keep out minorities. And that DID happen…OFTEN…to minorities that had good jobs and good credit. Obviously, you don’t remember the 70’s when this occurred. The abuses after that bill were perpetrated by unscrupulous realtors who flipped whole neighborhoods,put people into impossible ARMS (don’t you remember that foreclosure wave in the 70’s?), and helped caused the phenomenon of white flight, gave credence to the tipping theory, etc. The fact remians, it was still mortgage banketrs and brokers that made the loans this time and then. Why not adopt Nancy reagan’s slogan and JUST SAY NO to unqualified buyers? AH…But there was too much money to be made…via collusion to accept these loans from the top (think BIG BUCKS BONUSES to PRODUCTION INCENTIVES) on down. But your theory is some middle class joe just simply duped all these high powered financiers….and Barney Frank forced them at gunpoint to make these unacceptable loans.
And, if these loans were so crummy, where is the ethics of a Goldman Sachs in packaging these and repackaging these and then lying to the purchasers about the true quality? This was just a big game to these guys. Lots of yuks while they raked in the millions in bonuses while full well knowing they were frauding everyone else.
The fallout from the inflation of these worthless instruments that were churned and churned at ever increasing value (and, ever increasing commissions to the GS’s of the world) cuased many, many more people to face foreclosure after jobs evaporated due to the scare of financial meltdown. Not everyone who gets in financial trouble has done something wrong. But of course, you are perfect and do everything right all the time….a true paragon to political and financial virtue, our Sarah. Try some humility now and then…..but for the grace of God go I.
You show your true colors when you cast “underprivileged” as the cause of this mess. That you opt to use that word in what can only be a demeaning context reveals who you are. You blame the poor schlep who just wanted a piece of the American dream, and absolve the brilliant financiers who makes millions of dollars in bonuses annually (so they must be brilliant, right?) from any culpability whatsoever. Who is the greater abuser here? Get your facts straight lady, and stop fulminating class warfare against the middle class. Just because you speak loudly (and WAY TOO OFTEN) and carry a big stick, doesn’t make you right.
Betcha cherry is your favorite flavor !!!!!!!!!!