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Thread: Obama to business owners: "You didn't build that." [W:417]

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by washunut View Post
    Perhaps that is because neither candidate is willing to lay out specifics on the real issues knowing that they will have to make some folks mad in the process. Where have we heard a real answer to fixing the social security problem. Most people acknowledge there are a couple of ways that are pretty easy to tease out to fix it. Which candidate will say that health care costs are rising and unsustainable and really lay out ways to get HC costs materially below the 17% of GDP it is now. Who will talk about true tax code reform, both personal income and corporate taxes.

    Since neither candidate is willing to take on these issues, sites like this one are left to "debate" non serious issues.

    When someone actually were to take a stand on a serious issue on this site, you have people from either side jump to name calling and any hope for reasonable debate is lost after a post or two.

    I am not a great internet user, if you know of a site where real political debate occurs I would appreciate you letting me know the name.
    I say we could demand more. I remember during both the last two elections when candidates met with us here, we didn't accept pat answers. Kerry even changed his mind on NCLB after hearing us speak to on it (what reasonable peopel do when they learn new information).

    However, they will only talk issues if we insist, and stop holding actually have a thought against them.

    The trouble with these sites is those who will give real debate are few. It's a nice deversion, and there are some decent people who will debate fairly and logically if you do the same, and you can find them on all the boards. You can find some here of all persuasions, but it will require you do the same and ingoring those who won't. Or making fun of them, which ever helps pass the time.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by winston53660 View Post
    How did Bush and McCain try to reform fanny and freddie?
    Bush Administration Tried To Reform Fannie and Freddie in 2004

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    Re: Obama to business owners: "You didn't build that."

    Not a very good source on a subject about which it could be said "both sides did it". The Federal Housing Enterprise Regulatory Reform Act of 2005, though it passed a committee vote was never brought to the floor of the Senate for consideration. In other words, at a time when the Republicans controlled the Senate, Dems never had a chance to filibuster the bill - even if they had wanted to.
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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    Re: Obama to business owners: "You didn't build that."

    Thanks for providing the critical information that places the usual LIEberrhoidal and/or Obamarrhoidal flagrantly bogus assertions that it is the Republicans, i.e. Dubya who caused the present DISASTROUS ECONOMIC CRISIS with one one the most important reasons for it: the Fannie & Freddie BS ......into the nearest garbage can.

    BTW, the other way to debunk the LIEberrhoidal and/or Obamarrhoidal BS on this issue is that one can always google: The Congressional Hearings on Fannie & Freddie.

    The video will show how the Bush representatives were insistent on warning the Congressional Committee on the impending ECONOMIC DISASTER only to be shouted down and reviled by, primarily, the Corrupt Racist Congressional Black Caucus members, with the Contemptible POS Maxine Walters leading the BS. This despicable Dem scumbag, Maxine Walters even applauded the CEO of Fannie, Frank Raines, the scoundrel who later skedaddled with a $200,000,000 bonus which he awarded himself just prior to F&F getting trashed.The video also shows several Republican congressmen insisting on the needed regulations, only to be ignored. Also, one of the most contemptible political congressional aberrations in our history, Bwarney Fwanks, Chairman of the House Financial Committee, and one most responsible for the catastrophic activiities of F & F, insisting that F & F were in fine shape. This POS was later trashed on National TV by O'Reilly on the O'Reilly Factor for being a consummate LIAR.

    BTW, this scoundrel Frank Raines, and the other CEO of Freddie, Johnson, upon "resigning" from F&F immediately were recruited into important positions in Obuma's inner cabinet: Raines as the CHIEF FINANCIAL ADVISOR (what else if not one scoundrel to serve another), And, the other con man CEO Johnson, as the head of a committee for picking the Veep. However, these two scumbags immediately evaporated into the Financial Dem Heaven for the Biggie Dem Scoundrels as soon as the National Limelight hit these despicable machinations.
    Last edited by HoongLoong; 07-30-12 at 11:06 AM.

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    Re: Obama to business owners: "You didn't build that."

    Yeah, right....

    Oxley hits back at ideologues
    By Greg Farrell in New York
    Published: September 9 2008 19:25 | Last updated: September 9 2008 19:25

    In the aftermath of the US Treasury’s decision to seize control of Fannie Mae and Freddie Mac, critics have hit at lax oversight of the mortgage companies.

    The dominant theme has been that Congress let the two government-sponsored enterprises morph into a creature that eventually threatened the US financial system. Mike Oxley will have none of it.

    Instead, the Ohio Republican who headed the House financial services committee until his retirement after mid-term elections last year, blames the mess on ideologues within the White House as well as Alan Greenspan, former chairman of the Federal Reserve.

    The critics have forgotten that the House passed a GSE reform bill in 2005 that could well have prevented the current crisis, says Mr Oxley, now vice-chairman of Nasdaq.

    He fumes about the criticism of his House colleagues. “All the handwringing and bedwetting is going on without remembering how the House stepped up on this,” he says. “What did we get from the White House? We got a one-finger salute.”

    The House bill, the 2005 Federal Housing Finance Reform Act, would have created a stronger regulator with new powers to increase capital at Fannie and Freddie, to limit their portfolios and to deal with the possibility of receivership.

    Mr Oxley reached out to Barney Frank, then the ranking Democrat on the committee and now its chairman, to secure support on the other side of the aisle. But after winning bipartisan support in the House, where the bill passed by 331 to 90 votes, the legislation lacked a champion in the Senate and faced hostility from the Bush administration.

    Adamant that the only solution to the problems posed by Fannie and Freddie was their privatisation, the White House attacked the bill. Mr Greenspan also weighed in, saying that the House legislation was worse than no bill at all.

    “We missed a golden opportunity that would have avoided a lot of the problems we’re facing now, if we hadn’t had such a firm ideological position at the White House and the Treasury and the Fed,” Mr Oxley says.

    When Hank Paulson joined the administration as Treasury secretary in 2006 he sent emissaries to Capitol Hill to explore the possibility of reaching a compromise, but to no avail.

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    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by AdamT View Post
    Yeah, right....
    I blame Sir John Maynard Keynes.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Romulus View Post
    I blame Sir John Maynard Keynes.
    True.

    But the political and economic idiots that follow, and put into effect that nonsense are also more than culpable.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Romulus View Post
    I blame Sir John Maynard Keynes.
    Blame the idiots who don't understand -- or follow -- his teachings, not Mr. Keynes.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Obama to business owners: "You didn't build that."

    I doubt you, but you couldn't get a better source than CNS?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by HoongLoong View Post
    True.

    But the political and economic idiots that follow, and put into effect that nonsense are also more than culpable.
    Certainly. I just happen to be reading Where Keynes Went Wrong by Hunter Lewis which is the best deconstruction of Keynesian economics I've read since Hazlitt's The Failure of the "New Economics". Lewis boldly goes where F.A. Hayek wouldn't and describes Keynes as an "immoralist" in ch. 4. Keynes of course was a homosexual, but it was rejection of morality in general or acceptance of a nihilism that is most disturbing to me. It also explains how he came up with his famous retort to critics "in the long run, we are all dead". Saddling future generations with insurmountable debt just did not matter to him, and by advocating his economic philosophy Obama advocates his moral philosophy.

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