Page 5 of 70 FirstFirst ... 345671555 ... LastLast
Results 41 to 50 of 694

Thread: Labor Unions Join Wall Street Occupiers for "Mass Rally'

  1. #41
    Banned
    Join Date
    May 2011
    Location
    Virginia
    Last Seen
    01-09-12 @ 10:54 AM
    Gender
    Lean
    Slightly Conservative
    Posts
    1,014

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    MoveOn.org + Sorros = meyhem...which is exactly as the rabble-rousers want it, but guess what...it won't make a tinkers da*n what they want

  2. #42
    Banned
    Join Date
    Feb 2011
    Location
    Everywhere and Nowhere
    Last Seen
    03-07-12 @ 03:28 AM
    Lean
    Independent
    Posts
    3,692

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    It's good that the Wallstreet protest has a broad enough message that it can encompass different kinds of people. It's what has allowed their numbers to grow.

    And unlike the tea party, we won't see politicians giving speeches anytime soon, or trying to hijack the movement. People wouldn't stand for it. They are against Republican and Democrat alike, as long as they support the financial cartels of Wallstreet.

  3. #43
    Liberal Fascist For Life!


    Redress's Avatar
    Join Date
    Mar 2008
    Location
    Georgia
    Last Seen
    Today @ 01:58 AM
    Lean
    Very Liberal
    Posts
    93,299
    Blog Entries
    2

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by coolwalker View Post
    MoveOn.org + Sorros = meyhem...which is exactly as the rabble-rousers want it, but guess what...it won't make a tinkers da*n what they want
    Some one else expressed this better than I would have in another thread on another topic. Let me quote:

    Quote Originally Posted by spud_meister View Post
    Here's a tip, guilt by association is a fallacy.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  4. #44
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Yesterday @ 03:50 PM
    Gender
    Lean
    Independent
    Posts
    36,132

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by coolwalker View Post
    Banks like Fannie Mae andFreddie Mac, pushed by progressive democrats like Barney Frank (who made money off them themselves) and gave people loans they could not afford. The banks will do what congress allowes them to do...our meltdown is coming from a war that will bankrupt us if we don't start minding our own business and stop trying to "buy friendship" with other countries.
    i so enjoy replying to ignorant tripe such as that found above
    sarcasm.gif

    fannie and freddie were privatized during the nixon administration. yes, that dick
    trouble was, it was structured so that the new private owners enjoyed the profits (lots and lots of profits). but the taxpayers were liable for the losses (lots and lots of losses)

    most of the loans that went south during the financial meltdown fall into the category of ... wait for it ... 'non-conforming' loans
    the term 'non-conforming' means the loans did NOT meet the credit criteria established by fannie and freddie such that those secondary markets would be able to buy them
    as a result, those non-conforming loans were packaged as collateralized debt instruments and sold to eager buyers on wall street
    those non-conforming loans - because of their high risk - provided higher returns to the equity buyers

    fannie and freddie were now being by-passed because of this new way lenders could sell their mortgage paper. these more risky, higher yield 'non-conforming' loans now had another market such that freddie and fannie were losing business
    so, while freddie and fannie, by regulation, could not buy the loans that were 'non-conforming' they were able to spend their (taxpayer backed) money on the collateralized debt instruments. that is where most of fannie's and freddie's losses were sustained

    during the dicknbush era, it was learned that fannie mae had cooked its books. that should have alerted the administration. and it did. this report was presented: http://www.fhfa.gov/webfiles/747/FNMSPECIALEXAM.pdf
    (at least read the third page, 'summary of report')
    and still nothing was done

    fannie and freddie were returned to government oversight after the meltdown
    presently, we notice that at about ten month intervals the congress will increase the amount of monies to fannie mae by half a trillion dollars, give or take a hundred billion
    this is the government propping up the banks via the back door
    fannie is being funded to buy the underwater mortgages held by the too-big-to-fail lenders




    and then we read such stupid statements as is found quoted above. but here is my challenge to the author. show us anything which requires lenders to make non-creditworthy loans. provide anything proving such requirement existed and i will publicly apologize to you in this thread
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  5. #45
    Sage
    VanceMack's Avatar
    Join Date
    Feb 2010
    Last Seen
    Today @ 03:01 AM
    Gender
    Lean
    Independent
    Posts
    54,662

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by Temporal View Post
    It's good that the Wallstreet protest has a broad enough message that it can encompass different kinds of people. It's what has allowed their numbers to grow.

    And unlike the tea party, we won't see politicians giving speeches anytime soon, or trying to hijack the movement. People wouldn't stand for it. They are against Republican and Democrat alike, as long as they support the financial cartels of Wallstreet.
    Its just precious that you believe that.

  6. #46
    Banned
    Join Date
    Nov 2010
    Last Seen
    12-29-15 @ 10:42 PM
    Gender
    Lean
    Conservative
    Posts
    3,747

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by justabubba View Post
    i so enjoy replying to ignorant tripe such as that found above
    sarcasm.gif

    fannie and freddie were privatized during the nixon administration. yes, that dick
    trouble was, it was structured so that the new private owners enjoyed the profits (lots and lots of profits). but the taxpayers were liable for the losses (lots and lots of losses)

    most of the loans that went south during the financial meltdown fall into the category of ... wait for it ... 'non-conforming' loans
    the term 'non-conforming' means the loans did NOT meet the credit criteria established by fannie and freddie such that those secondary markets would be able to buy them
    as a result, those non-conforming loans were packaged as collateralized debt instruments and sold to eager buyers on wall street
    those non-conforming loans - because of their high risk - provided higher returns to the equity buyers

    fannie and freddie were now being by-passed because of this new way lenders could sell their mortgage paper. these more risky, higher yield 'non-conforming' loans now had another market such that freddie and fannie were losing business
    so, while freddie and fannie, by regulation, could not buy the loans that were 'non-conforming' they were able to spend their (taxpayer backed) money on the collateralized debt instruments. that is where most of fannie's and freddie's losses were sustained

    during the dicknbush era, it was learned that fannie mae had cooked its books. that should have alerted the administration. and it did. this report was presented: http://www.fhfa.gov/webfiles/747/FNMSPECIALEXAM.pdf
    (at least read the third page, 'summary of report')
    and still nothing was done

    fannie and freddie were returned to government oversight after the meltdown
    presently, we notice that at about ten month intervals the congress will increase the amount of monies to fannie mae by half a trillion dollars, give or take a hundred billion
    this is the government propping up the banks via the back door
    fannie is being funded to buy the underwater mortgages held by the too-big-to-fail lenders




    and then we read such stupid statements as is found quoted above. but here is my challenge to the author. show us anything which requires lenders to make non-creditworthy loans. provide anything proving such requirement existed and i will publicly apologize to you in this thread
    Your post missesd a big part of the boat. You note "loans that went south during the meltdown", when in fact the meltdown was the bursting of the inflationary bubble, not that this loan went bad, or that loan went bad. The bubble had to burst. When it did, every portfolio, derivative, piece of land, etc, went underwater.

    Fannie and Freddie strted the inflationary bubble, and this bubble enabled ALL the stupidity that followed. If you want to make it seem as a contest of who wrote the dumbest loans, then knock yourself out. Fact is that all loans were written on an inflationary bubble.

    As to your challenge "show us anything which requires lenders to make non-creditworthy loans. provide anything proving such requirement existed and i will publicly apologize to you in this thread". The DoJ and HUD sued majoe mortgage lenders in the mid-90's to make more "sub-prime" loans. So I guess we can debate whether the private lenders not thinking sub-prime was credit-worthy enough, and the government deciding, all day long. But the government certainly struck a deal to have the banks make loans they did not want to make ....... with the arrangement that Fannie and Feddie would underwrite.

    Watch this BS. Jump to 2:15, to the Q and A, and pay attention. "higher risk, with a higher default rate" is how Cuomo characterized the new loans. You can call it whatever you want, but how do you like your crow ?

    How The Democrats Caused The Financial Crisis: Starring Bill Clinton's HUD Secretary Andrew Cuomo And Barack Obama; With Special Guest Appearances By Bill Clinton And Jimmy Carter - YouTube
    Last edited by Eighty Deuce; 10-06-11 at 01:03 PM.

  7. #47
    Pontificator
    iliveonramen's Avatar
    Join Date
    Sep 2011
    Location
    On a Gravy Train with Biscuit Wheels
    Last Seen
    Yesterday @ 05:30 PM
    Gender
    Lean
    Very Liberal
    Posts
    9,158

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Fannie and Freddie strted the inflationary bubble, and this bubble enabled ALL the stupidity that followed. If you want to make it seem as a contest of who wrote the dumbest loans, then knock yourself out. Fact is that all loans were written on an inflationary bubble.
    The bubble was global. If Fannie and Freddie as well as the CRA was responsible the housing bubble would only be in the US. Now it's possible the banking failure would spread due to how the banks are intereconnected but that is not the case.
    Real estate bubble - Wikipedia, the free encyclopedia

    This was a supply side bubble based on CDO's mislabeled as AAA, causing massive amounts of capital to pour into housing...globally. Even places where Freddie and fannie and the CRA were non-existent.

    The only people that consistently state that CRA or Fannie and Freddie are the cause are those with an agenda. Everybody else says that the cause was a failure in ratings agencies and failures in financial organizations.

  8. #48
    Guru
    Councilman's Avatar
    Join Date
    Apr 2009
    Location
    Riverside, County, CA.
    Last Seen
    11-04-11 @ 10:16 PM
    Gender
    Lean
    Conservative
    Posts
    4,454
    Blog Entries
    10

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Unions will never face the truth that they are part of the problem by forcing costs up and driving jobs out of the country and States and the Nation into economic situations they can no longer handle.


    These fools are protesting because Obama is playing the calls warfare game they Will never win.

  9. #49
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Yesterday @ 03:50 PM
    Gender
    Lean
    Independent
    Posts
    36,132

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by Eighty Deuce View Post
    Your post missesd a big part of the boat. You note "loans that went south during the meltdown", when in fact the meltdown was the bursting of the inflationary bubble, not that this loan went bad, or that loan went bad. The bubble had to burst. When it did, every portfolio, derivative, piece of land, etc, went underwater.
    nope
    lots of good paper survived the meltdown
    high end assets held their value
    my personal residence has done nothing but appreciate since the bubble burst (but at a lower rate)

    Fannie and Freddie strted the inflationary bubble,
    no they didn't
    fannie and freddie required loans to conform to their regulations
    that's why they were bypassed when the makers of non-conforming loans found a way to sell them on wall street instead of to the traditional secondary lender, fannie mae
    interest rates were low
    those high risk non-conforming loans were generating substantially higher yields than would be realized with conforming loans
    that demand on wall street for high yield paper is what sparked the bubble

    ... and this bubble enabled ALL the stupidity that followed. If you want to make it seem as a contest of who wrote the dumbest loans, then knock yourself out.
    fannie made stupid investments, by buying the CDOs in an effort to enjoy the gains other lenders were realizing because those other lenders did not have to make conforming loans ... at least as long as wall street was buying them
    but fannie's and freddie's regulatory restrictions prohibiting non-conforming loans prevented them from being a substantial party to the bubble
    their investments in CDO's caused them (and the taxpayers who backed their losses) to be the victim of the bubble

    Fact is that all loans were written on an inflationary bubble.
    not true. there were the usual number of creditworthy borrowers receiving loans. at the time, i was underwriting lots of them

    As to your challenge "show us anything which requires lenders to make non-creditworthy loans. provide anything proving such requirement existed and i will publicly apologize to you in this thread". The DoJ and HUD sued majoe mortgage lenders in the mid-90's to make more "sub-prime" loans.
    i missed seeing your cite which would show us that lenders were required to make non-creditworthy loans
    offer that up and i will make good on my promise - now to the both of you

    So I guess we can debate whether the private lenders not thinking sub-prime was credit-worthy enough, and the government deciding, all day long.
    again, offer a cite showing that lenders were required to make non-creditworthy loans and i will make a public apology to both of you
    now, banks were expected to make creditworthy loans in any neighborhood from which it was accepting deposits. previously, banks would accept deposits from low end communities while refusing to make ANY loans within those communities. that failure by the banks to make legitimate, creditworthy loans instigated the Community Reinvestment Act. neither that act, nor its regulations, required banks to make non-creditworthy loans

    But the government certainly struck a deal to have the banks make loans they did not want to make ....... with the arrangement that Fannie and Feddie would underwrite.
    you keep insisting this and yet you cannot offer anything to prove it. prove it. prove me wrong by proving the government required lenders to issue non-creditworthy loans

    Watch this BS. Jump to 2:15, to the Q and A, and pay attention. "higher risk, with a higher default rate" is how Cuomo characterized the new loans. You can call it whatever you want, but how do you like your crow ?

    How The Democrats Caused The Financial Crisis: Starring Bill Clinton's HUD Secretary Andrew Cuomo And Barack Obama; With Special Guest Appearances By Bill Clinton And Jimmy Carter - YouTube
    there is no crow to be eaten
    i await your showing any evidence that the government required lenders to issue non-creditworthy loans
    and a heavily edited faux news video railing against Obama prior to the presidential election is no such evidence

    i will continue to await evidence that lenders were required to make non-creditworthy loans
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  10. #50
    Banned
    Join Date
    Nov 2010
    Last Seen
    12-29-15 @ 10:42 PM
    Gender
    Lean
    Conservative
    Posts
    3,747

    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by iliveonramen View Post
    The bubble was global. If Fannie and Freddie as well as the CRA was responsible the housing bubble would only be in the US. Now it's possible the banking failure would spread due to how the banks are intereconnected but that is not the case.
    Real estate bubble - Wikipedia, the free encyclopedia

    This was a supply side bubble based on CDO's mislabeled as AAA, causing massive amounts of capital to pour into housing...globally. Even places where Freddie and fannie and the CRA were non-existent.

    The only people that consistently state that CRA or Fannie and Freddie are the cause are those with an agenda. Everybody else says that the cause was a failure in ratings agencies and failures in financial organizations.
    That is whacked logic. Housing inflation spread from the US, for sure. But it spread the same way there as here, that being banks started making lousy loans, bringing more buyers in. That downgrading of loan standards began right here in the USA. See Cuomo's exact words in the video.

    This statement by you is bass ackwards: "This was a supply side bubble based on CDO's mislabeled as AAA, causing massive amounts of capital to pour into housing". CDO's did not drive money into housing. Mortgage Backed Securities did not buy the houses. It was the demand for housing, with more folks buying, that drove up the price of the actual houses, not CDO's. That these mortgages could then be bundled and sold certainly got many more financial institutions into chasing the profits, but the inflation impetus in housing comes from the bottom. From what folks were willing to pay, and the loans they could get. It was truly simple supply and demand. New buyers, ultimately backed by FF, started to drive up demand, and prices.

    As for the CRE, that is almost insignificant to the debate, although I know folks like to throw it in there. It did not mean much until Fannie and Freddie began to underwrite all those sub-prime mortgages that the Clinton Administration compelled on the lenders. That is what opened the floodgates.

Page 5 of 70 FirstFirst ... 345671555 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •