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Thread: 25 People to Blame for the Financial Crisis

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    25 People to Blame for the Financial Crisis

    Blameworthy - 25 People to Blame for the Financial Crisis - TIME

    So far most people blame Phil Graham... go figure!
    PeteEU

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    Re: 25 People to Blame for the Financial Crisis

    Quote Originally Posted by PeteEU View Post
    Blameworthy - 25 People to Blame for the Financial Crisis - TIME

    So far most people blame Phil Graham... go figure!
    Yeah, go figure...

    Typical on-line poll that draws the most passionate voices...and leads to the most absurd results. Gramm's mention is an explicit result of media reporting on this. Just like the media created the impression, not Bush, that Iraq had some hand in 9/11...the media has acted to make Gramm a scapegoat here and that's why we're seeing this absurd polling result.

    Chris Dodd?
    Barney Frank?

    Not even a mention?

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    Re: 25 People to Blame for the Financial Crisis

    Its nothing but a knee jerk list and Im willing to bet many of those that voted for Graham are economically left wing.
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    Re: 25 People to Blame for the Financial Crisis

    Don't ruin this for Pete.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: 25 People to Blame for the Financial Crisis

    Quote Originally Posted by chevydriver1123 View Post
    Its nothing but a knee jerk list and Im willing to bet many of those that voted for Graham are economically left wing.
    Remember when the media and the lefty pundits were blasting Gramm for being singularly responsible by virtue of Glass-Steagle, yet were completely ignoring the fact that Gramm's legislative amendment (CFMA) was a product of the Clinton administration?

    Even better, is that the WaPo had to run a correction after collaring Gramm as the culprit for that amendment when that legislation was enacted. Yet, years later, there they were, at it, again.

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    Re: 25 People to Blame for the Financial Crisis

    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: 25 People to Blame for the Financial Crisis

    Quote Originally Posted by JMak View Post
    Remember when the media and the lefty pundits were blasting Gramm for being singularly responsible by virtue of Glass-Steagle, yet were completely ignoring the fact that Gramm's legislative amendment (CFMA) was a product of the Clinton administration?

    Even better, is that the WaPo had to run a correction after collaring Gramm as the culprit for that amendment when that legislation was enacted. Yet, years later, there they were, at it, again.
    I vaguely remember that but yea. Anyone who blames a single individual for something as complex as the economy looses alot of credibility in my book.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: 25 People to Blame for the Financial Crisis

    Any list that doesn't have Barney Frank is wrong.
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    Re: 25 People to Blame for the Financial Crisis

    25 People to blame for the Financial collapse of much of the world?

    Marx just laughed like hell.
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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    Re: 25 People to Blame for the Financial Crisis

    Quote Originally Posted by JMak View Post
    Yeah, go figure...

    Typical on-line poll that draws the most passionate voices...and leads to the most absurd results. Gramm's mention is an explicit result of media reporting on this. Just like the media created the impression, not Bush, that Iraq had some hand in 9/11...the media has acted to make Gramm a scapegoat here and that's why we're seeing this absurd polling result.

    Chris Dodd?
    Barney Frank?

    Not even a mention?
    So you are blaming Barney Frank why? Because you dont like him? Was he in any form of power when the deregulation happened on the Republican lead congress? Was he a key part of the legislation that made it possible for the US to get into this mess?

    Do you really think that a man who gained his chairmanship in 2007 when the downturn started, and the toxic assets were already a problem, suddenly is to blame more than the man who's name is on the bill that is one of the main reasons that we are in the situation today? Talk about lack of a reality check.

    While I dont blame a single person or just a few people, I do lay more blame on certain people than others for the situation the world is in today thanks to the US. Phil Graham has far more blame than Barney, just as Bill Clinton has far more blame the Barney. But of course Barney is not off the hook, since he was in congress at the time of deregulation.

    But on the political side, there is no doubt that congress as a whole, but especially a few champions of deregulation are to blame for the lack of regulation and oversight with industries that used this wild west to exploit people and earn trillions while the going was good. Thats why the industry had Phil Graham to block any regulation on derivatives on top of repealing legislation that made it possible for banks, insurance companies and securities companies to compete.. now how much was it again AIG had to be bailed out because AIG was allowed to trade in the global derivatives market?

    Or are you gonna claim like some of the wackos on the right, that it was too MUCH regulation that was the problem?

    But i guess you will counter with accusation about Fannie and Freddie.. like they were the sole reason for the crisis...
    PeteEU

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