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Thread: Major makeover of Wall Street regs passes House

  1. #11
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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by the makeout hobo View Post
    But there was still shady and unsustainable things going on, regardless. I mean, look at the mess in the housing market.
    Yes, that's why we should have let those companies die rather than bail them out.

    Quote Originally Posted by Khayembii Communique View Post
    Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.
    Recessions happen. Always have and always will.

    Do you really think letting the nation's largest financial institutions go bankrupt would have been better for the economy?
    Yes, they would have merged with or been bought by more responsible companies, or else they simply would have died and been replaced. Nobody is "too big to fail".

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Khayembii Communique View Post
    Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.

    Do you really think letting the nation's largest financial institutions go bankrupt would have been better for the economy?



    I'm educated enough to know that you don't know what Marxism/socialism are.
    Again you show you ignorance. The banking system was set up to fail read the book "Confessions of and Economic Hit Man" by John Perkins to learn the big boys game. If you can't take the time to read it read it just watch the video.
    [ame="http://www.youtube.com/watch?v=yTbdnNgqfs8"]YouTube- Interview - Confessions of an Economic Hit Man - Part I[/ame]

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Dav
    Recessions happen. Always have and always will.
    So your view is based in your faith that this system isn't going to collapse.

    Quote Originally Posted by Councailman
    Again you show you ignorance. The banking system was set up to fail read the book "Confessions of and Economic Hit Man" by John Perkins to learn the big boys game. If you can't take the time to read it read it just watch the video.
    I already knew that the banking system was set up to fail. That's why I'm a Marxist.

    And yes I have read that book.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Major makeover of Wall Street regs passes House

    Yes, that's why we should have let those companies die rather than bail them out.
    And that would help, how?
    The Makeout Hobo is real, and does indeed travel around the country in his van and make out with ladies... If you meet the Makeout Hobo, it is customary to greet him with a shot of whiskey and a high five (if you are a dude) or passionate makeouts (if you are a lady).

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Khayembii Communique View Post
    So your view is based in your faith that this system isn't going to collapse.
    read up on the business cycle.

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Khayembii Communique View Post
    Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.

    Do you really think letting the nation's largest financial institutions go bankrupt would have been better for the economy?



    I'm educated enough to know that you don't know what Marxism/socialism are.

    Obviously not that well educated if you make a statement like "Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.".

    Have you not been paying attention for the past 5 years while the government doubled down on stupid and refused to make changes to the way Freddie and Fannie acted in the housing bubble period? Were you unaware that the government created the circumstances where the housing crisis was able to come into being? And when banks started to fail, look at how the winners and losers were being chosen by the bureaucrats in Washington. Who does or doesn't get bailed out seemed more dependent on personal links with Washington insiders than on real merit.

    And the government spending Trillions on insurance reform, bailouts, democrat slush funds, etc. certainly hasn't strengthened the dollar or the national economy in any way.

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by DarkWizard12
    read up on the business cycle.
    I am fully aware of the business cycle. I've specifically studied Kondratieff Waves (K-Waves) and Kuznets Swings, as well, so I think I'm more knowledgeable about these things than most people.

    Quote Originally Posted by 1 Easy Target
    Obviously not that well educated if you make a statement like "Except the government didn't step in until some of the country's largest banking institutions went bankrupt and the economy was going down the tube.".
    It's pretty obvious what I was referring to here.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

  8. #18
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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Khayembii Communique View Post
    So your view is based in your faith that this system isn't going to collapse.
    No, my view, unlike yours, is supported by both logic and history.

    Quote Originally Posted by the makeout hobo View Post
    And that would help, how?
    It wouldn't encourage the kind of behavior that got us into the mess in the first place. If you're just going to get bailed out in the end, where's the disincentive?

  9. #19
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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by Dav View Post
    I suspect that the recession wouldn't have become such a crisis if we had just let bad companies die and not had the government come in to "save" the day.
    Not all companies that were going to "die" were necessarily bad. If a failing business is so large in scope in which it could trigger a financial meltdown, this legislation will help dissolve bankrupt companies without inducing a panic.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Major makeover of Wall Street regs passes House

    Quote Originally Posted by DarkWizard12 View Post
    read up on the business cycle.
    Follow your own advice
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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