Now That Trump's President... (not any more!)

  On 1/12/2017 at 12:15 AM, Suffocate Peon said:

I don't know why no one ever asks Obama about him hiring the architects of the financial crisis instead of prosecuting them, as one of the first things he did. Or ask him, in passing; heh, how's Chelsea keeping up?

the architects of the financial collapse were already working for the US government, the regulators and the people in charge of the Federal Housing Association for example, the financial people just made some money as the whole thing collapsed, crooks sure, but not really the people who caused the problem in the first place.

on today's front cover of tages anzeiger

  On 1/12/2017 at 3:51 PM, caze said:

 

  On 1/12/2017 at 12:15 AM, Suffocate Peon said:

I don't know why no one ever asks Obama about him hiring the architects of the financial crisis instead of prosecuting them, as one of the first things he did. Or ask him, in passing; heh, how's Chelsea keeping up?

the architects of the financial collapse were already working for the US government, the regulators and the people in charge of the Federal Housing Association for example, the financial people just made some money as the whole thing collapsed, crooks sure, but not really the people who caused the problem in the first place.

This is utter nonsense. Read any analysis on the extent to which federal regulations had on the depth of the crisis and you'll soon realize that they constituted a tiny fraction of the problems.

  On 1/12/2017 at 7:49 PM, chenGOD said:

 

  On 1/12/2017 at 3:51 PM, caze said:

 

  On 1/12/2017 at 12:15 AM, Suffocate Peon said:

I don't know why no one ever asks Obama about him hiring the architects of the financial crisis instead of prosecuting them, as one of the first things he did. Or ask him, in passing; heh, how's Chelsea keeping up?

the architects of the financial collapse were already working for the US government, the regulators and the people in charge of the Federal Housing Association for example, the financial people just made some money as the whole thing collapsed, crooks sure, but not really the people who caused the problem in the first place.

This is utter nonsense. Read any analysis on the extent to which federal regulations had on the depth of the crisis and you'll soon realize that they constituted a tiny fraction of the problems.

 

the housing bubble was caused by a mixture of cheap credit and the FHA pushing the govt banks to give out mortgages to people who couldn't afford them, by the regulators I meant the people regulating the ratings agencies (and the rating agencies themselves, made up of ex-regulators often), who allowed the fraudulent AAA ratings stand when they were really just junk, and when a few canny investors realized this they started shorting (which no doubt exacerbated the issue, added to the contagion, but it would've all collapsed anyway at that point). The FHA had been doing a reasonably responsible job of increasing homeownership in america, but under either Bush or Clinton (can't remember off the top of my head) they changed tack and went a bit mental, totally overheating the market (a similar thing happened in Ireland with two successive governments overheating the market with various tax incentives). the banks were certainly complicit and part of the problem, but silly to say they were the architects of the whole mess.

Considering banks were the ones who failed to do due diligence and purchased these bundles, which were made up of private mortgages (which made up the vast majority of subprime loans), it's not silly at all.

Your reference to FHA is (I'm guessing) with regards the Community Reinvestment Act. CRA loans made up around 6% of subprime loans.

Ratings agencies lied repeatedly to regulators, or took bribes to alter ratings. So not sure what regulators are supposed to do there, especially with Republican obstructionism blocking increased resource allocation to regulatory bodies.

Banks and the three big ratings agencies are largely to blame for the crisis, and to say otherwise is to engage in serious revisionism.

thats not as bad as http://www.independent.co.uk/news/world/americas/donald-trump-press-conference-folders-business-plan-empire-blank-fake-handover-donald-jr-eric-a7523426.html

why did trump do this? for theater? 

these are the actions of a deranged man

  On 1/13/2017 at 2:42 AM, Nebraska said:

1:20

Ooooo, he thinks being president is kinda like being Oprah Winfrey!!? He wants to be orange oprah!

the republican party was the party catering to the super-rich and the corporations in the days of teddy roosevelt.

as they are about to take control of the government, legislative priorities of the GOP are: tax cuts for the rich and corporations and repealing Financial Reform

both sides are not equally corrupt. funny how i only hear that platitude coming out of the right.

the frank dodd act, a robust set of protections put together as a direct reaction to the global financial meltdown of 2008, is what republicans would like to repeal. i guess the protections interfere with their free-market anti-regulation ideal.

hillary would have vetoed a repeal, she was a proponent of frank dodd, as was bernie.

red staters villified clinton for taking wall street money

republicans take 3 times more money from wallstreet than democrats

Justice Department will investigate FBI pre-election actions:

https://www.washingtonpost.com/news/post-nation/wp/2017/01/12/justice-department-inspector-general-to-investigate-pre-election-actions-by-department-and-fbi/?utm_term=.1d439fcb3f80&wpisrc=nl_az_most

  On 1/13/2017 at 11:11 AM, very honest said:

the frank dodd act, a robust set of protections put together as a direct reaction to the global financial meltdown of 2008, is what republicans would like to repeal. i guess the protections interfere with their free-market anti-regulation ideal.

 

hillary would have vetoed a repeal, she was a proponent of frank dodd, as was bernie.

 

red staters villified clinton for taking wall street money

 

republicans take 3 times more money from wallstreet than democrats

Paraphrase of one of my favorite Jack Handey jokes:

Bill is a real jerk

But if he were here he'd say *I* was the jerk

No Bill, *you're* the jerk

But if he was here...

flol

Trump thrives off of media hostility, and the more hostile — and the less defensible — the better.

http://nypost.com/2017/01/12/buzzfeed-just-did-donald-trump-a-huge-favor/

interesting insights in behind the scenes trump from 4:30 onwards

lol

also his excuse the us is run by people who don't know what they're doing.... that one's going to bite ya back past the 20th! ;D

lol

lol

lol

(but depression at the same time)

lolicide.

Putin's takin' over the world, his puppet candidates around the world will keep getting elected because of how easy it is to manipulate peoples emotions and perception tru social media

what will the world look under Putin control? say good bye autechre cause they will be banned