Enough to go around....
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Enough to go around....

  1. #1
    VOTE! RodnJen's Avatar
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    Default Enough to go around....

    Like I said in another thread, enough blame/responsibility to go around. For those of you who should know.

    What caused the financial crisis? The Big Lie goes viral - The Washington Post

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    Red Blooded American The Doctor's Avatar
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    And exactly what has your Kenyan done to make things better? Nothing! They are much worse. The deficit is double, unemployment is insane, our own citizens are being killed with weapons his stimulus plan put in the hands of drug lords, drilling permits are on indefinite hold and over a hundred thousand good men are sitting at home wishing they could work from that alone, Solyndra is boiling underneath him and he's on a bus campaigning for another four more years? Exactly what drives guys like you to have already pledged your vote to continue this madness for another term?
    Really Rod?
    Really?

    If you were honestly looking for blame for our current economic crisis, you'll have to blame your own democrats who have controlled things for some time now. It's been quite some time since the Republicans were in the majority and the economy was booming then. Look in the mirror, not dredging up crap from a liberal rag like Washington Post w/Bloomberg Business "Where Washington and Business Intersect" which is quite an oxymoron in and of itself.
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    Already miss the 310/562 2manymustangs's Avatar
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    Quote Originally Posted by RodnJen View Post
    Like I said in another thread, enough blame/responsibility to go around. For those of you who should know.

    What caused the financial crisis? The Big Lie goes viral - The Washington Post
    Rod:

    Do you really want to go toe to toe on this one with us???


    "Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies. It was not irresponsible lending or derivative or excess leverage or misguided compensation packages, but rather long-standing housing policies that were at fault.

    Indeed, the arguments these folks make fail to withstand even casual scrutiny
    . But that has not stopped people who should know better from repeating them"
    .




    Remember, you posted this BS... NOT us...
    Pat Eason, the voice of reason...

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    VOTE! RodnJen's Avatar
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    2MM, I don't mind going round and round, I'm just not sure where you are going with that response.

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    Already miss the 310/562 2manymustangs's Avatar
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    Quote Originally Posted by RodnJen View Post
    2MM, I don't mind going round and round, I'm just not sure where you are going with that response.
    The statement I pasted from YOUR link is as full of shit as Barney Frank himself...


    OK, so the lenders made bad/risky loans... WHO enabled them to do so??? The Govt under the clintoon administration and under pressure from the likes of Obama, Jesse Jackson and the democratic black caucus with their extortion tactics on Freddie/Fannie... AND by getting someone like Franklin Raines in their hip pocket to "see things their way"...

    SO YES, it was the Government's fault, due to throwing the lending guidelines right out the window... Second to blame, the borrowers that had their head up their ass and overspent without looking down the road to the next payment...

    Do you want me to post the wiki links describing the legislation passed under Clintoon again for the 20th time in the last four years??? The legislation that enabled the lenders to make the bad loans???

    The term "caveat emptor" applies to the borrower / lender relationship as much as it does in any other purchase situation... There WERE guidlines in place to protect the borrowers until clintoon came along...


    WHAT "longstanding" housing policies??? The "LONGSTANDING" policies at fault were put in place by CLintoon...
    Last edited by 2manymustangs; 11-10-2011 at 04:47 PM.
    Pat Eason, the voice of reason...

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    "enough blame/responsibility to go around" is actually Liberal speak for our thought process is so warped, we need to comfort ourselves by sharing the blame for the unintended consequences of our actions.

    America is the land of equal opportunity, not equal success.
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    Already miss the 310/562 2manymustangs's Avatar
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    Quote Originally Posted by Fullup View Post
    "enough blame/responsibility to go around" is actually Liberal speak for our thought process is so warped, we need to comfort ourselves by sharing the blame for the unintended consequences of our actions.
    I can't believe any rational person could read that article and give it ANY amount of credence...

    Just look at the second half of what I posted and highlighted...

    OK, I have given both sides of the equation more than "casual scrutiny" and say that the author of the article is full of CRAPOLA... SO lets here the OP's rebuttal...
    Pat Eason, the voice of reason...

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    Living in a cage of fear thatguy's Avatar
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    Quote Originally Posted by RodnJen View Post
    2MM, I don't mind going round and round, ...
    Truer words were never spoken.....
    Tommy
    Quote Originally Posted by Rexone View Post
    Tommy please remove all Jimsplace quotes from your sig and don't put more back. He doesn't like it and it is against the rules. Thank you.
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    Senior Member angry dad's Avatar
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    Quote Originally Posted by thatguy View Post
    truer words were never spoken.....
    lol!!
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    Senior Member SBjet's Avatar
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    Quote Originally Posted by RodnJen View Post
    Like I said in another thread, enough blame/responsibility to go around. For those of you who should know.

    What caused the financial crisis? The Big Lie goes viral - The Washington Post
    The author's 9 points are not wrong. I've outlined most of those here myself.
    He does leave out a few important points. Where did those mtgs. come from? What was the source?They came from govt. pressure on banks to change lending practices; to give poor people more loans. They came from mtg brokers who made fake deals. False appraisals. Homeowners who were either slick or stupid. OW is ignoring this stuff just like the author.
    I'd really like to see Moody's, etc. taking more heat for giving that shitty paper and A rating.
    I'd like to see a few investment bankers flogged for betting against the shit they were selling. Occupy Wall St.? How about execute Wall St. ?
    BTW, Iceland completed its 3.5 yr. clean up deal and is apparently doing fine.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Senior Member AzMandella's Avatar
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    Quote Originally Posted by SBjet View Post
    The author's 9 points are not wrong. I've outlined most of those here myself.
    He does leave out a few important points. Where did those mtgs. come from? What was the source?They came from govt. pressure on banks to change lending practices; to give poor people more loans. They came from mtg brokers who made fake deals. False appraisals. Homeowners who were either slick or stupid. OW is ignoring this stuff just like the author.
    I'd really like to see Moody's, etc. taking more heat for giving that shitty paper and A rating.
    I'd like to see a few investment bankers flogged for betting against the shit they were selling. Occupy Wall St.? How about execute Wall St. ?
    BTW, Iceland completed its 3.5 yr. clean up deal and is apparently doing fine.
    Let's not forget that many of the deregulations were done by the gov. As far as those that were hedging the paper(mortgage backed securities) would fail. Well let's just say there probably isn't a more sure bet than anything the gov has it's hand in will fail. Don't forget it was F & F that packaged all those up and sold them to Wall St.
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    Quote Originally Posted by 2manymustangs View Post
    I can't believe any rational person could read that article and give it ANY amount of credence...
    There ya go!
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    I'm baaaaack... hkunz's Avatar
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    What the OP and MSM cannot or will not do is analysis of the situation.

    First up, everything has a nexus, a starting point, without which nothing would have happened.

    Example: The metal in the foundry had a small amount of contamination, so the casting had a flaw, so when the wheel hit the curb the tire came off. What is the nexus, the initial issue? Contamination in the foundry processing. The casting flaw, the girl driving while on her cell phone, the puppy that walked into the street, all contributed, but if the contamination didn't exist, the whole "wheel fell off" part would have been avoided.

    On this subject, the nexus was the Federal housing regulations trying to legislate morality, to change the rules such that minorities could become homeowners. Rather than deal with the root issue of that problem, most likely lack of education and increased loose sexual behaviors, the government tried to shortcut the process. Since the law prohibits discrimination, everyone had the same rules applied, so not only was the minimum wage guy able to buy a small starter home, the 16-hour-a-day hammer swinger could buy a McMansion. The starter homes were the plan, but the Law of Unintended Consequences applied, and there were $5M loans on $800k houses before you could say, "Orange County".

    You say, "greed" caused this, but that's not true. Greed is normal behavior; one of the seven deadly sins, and everyone is a sinner. The nexus is the government programs, Barney Frank, Chris Dodd, et al, who tried to legislate behaviors they had to reason to.

    Now, we live with it. Ignoring it, or trying to rewrite history, won't change what happened. All you can do now is try to keep it from happening again, but first you have to analyze the problem, and that is not on the current administrations agenda.
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    Quote Originally Posted by RodnJen View Post
    Like I said in another thread, enough blame/responsibility to go around. For those of you who should know.

    What caused the financial crisis? The Big Lie goes viral - The Washington Post
    Great article. It is amazing how many believe the "big lie."

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