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Thread: SEC employees surfed porn as economy fell

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by obvious Child View Post
    That depends on how you define "too big to fail."

    The total collapse of AIG would send ripples through the economy taking down even good companies. Their sheer amount of CDS liability in excess of their equity and assets were immense. Sure, if you think that bringing the country into total financial collapse and likely destroying the government in the process resulting in so ways anarchy, sure, that's not "too big to fail."

    But then again, only maybe a handful of people on this forum have any understanding of economics and finance and you are not one of them.
    I don't care how you define, "too big to fail". Any bank that is run into the ground by it's management, is small enough to fall flat on it's ass.

    When AIG and a few smaller companies along with it, failed, other companies would have sprung up in their place. It's how capitalism works.

    When the government, with no over-sight gets to say who fails and who doesn't, it's no longer free market capitalism.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by apdst View Post
    I don't care how you define, "too big to fail". Any bank that is run into the ground by it's management, is small enough to fall flat on it's ass.

    When AIG and a few smaller companies along with it, failed, other companies would have sprung up in their place. It's how capitalism works.

    When the government, with no over-sight gets to say who fails and who doesn't, it's no longer free market capitalism.
    We don' t have free market capitalism, we have manipulated market capitalism....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by UtahBill View Post
    We don' t have free market capitalism, we have manipulated market capitalism....
    I agree......
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  4. #34
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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by apdst View Post
    I don't care how you define, "too big to fail". Any bank that is run into the ground by it's management, is small enough to fall flat on it's ass.

    When AIG and a few smaller companies along with it, failed, other companies would have sprung up in their place. It's how capitalism works.

    When the government, with no over-sight gets to say who fails and who doesn't, it's no longer free market capitalism.
    You basically proved my point about your ignorance. You in no way addressed how the CDS would drive good businesses into default. And it would not be a "few" smaller companies. Even large firms in capitalization of billions would see huge amounts of assets they were counting on disappear without any insurance to recoup their losses. When they go under, their related CDS get called in and so on and so forth.

    AIG had its tentacles in so many things, it's unbelievable. AIG by itself posed a systematic risk.

    The cost alone in unemployment benefits from the millions of workers out of jobs from AIG's collapse would IMO eclipse the cost of the bailout of AIG.

    You think liquidity was bad when AIG was still around, it would be virtual gridlock if it went down.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by obvious Child View Post
    You basically proved my point about your ignorance. You in no way addressed how the CDS would drive good businesses into default. And it would not be a "few" smaller companies. Even large firms in capitalization of billions would see huge amounts of assets they were counting on disappear without any insurance to recoup their losses. When they go under, their related CDS get called in and so on and so forth.

    AIG had its tentacles in so many things, it's unbelievable. AIG by itself posed a systematic risk.

    The cost alone in unemployment benefits from the millions of workers out of jobs from AIG's collapse would IMO eclipse the cost of the bailout of AIG.

    You think liquidity was bad when AIG was still around, it would be virtual gridlock if it went down.

    Still pushing theory as fact? I bet you believe in Global Warming, too.

    But, as I said, so goes AIG, along with it's tentacle and along comes small up and coming companies to take their place and fill the new demand that has been created.

    And, we're not even touching on the fact that the recession was caused by government intervention, to begin with.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by apdst View Post
    Still pushing theory as fact? I bet you believe in Global Warming, too.
    You have no idea what CDS stands for do you?

    But, as I said, so goes AIG, along with it's tentacle and along comes small up and coming companies to take their place and fill the new demand that has been created.
    And how will they do that when banking completely collapses? When no one can get any financing at all?

    And, we're not even touching on the fact that the recession was caused by government intervention, to begin with.
    Not really. Housing as a percent of the economy is less then 1%. What set this off was securization of the mortgages, fraudulent ratings (which the GOP refuses to support regulation to stop) and over leverage by investment banks.
    I guarantee you, if the mortgages were not securitized, or at least all C grade level mortgages were not, we would not be in this mess.

    You really have no idea what I'm talking about do you?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by obvious Child View Post
    You have no idea what CDS stands for do you?



    And how will they do that when banking completely collapses? When no one can get any financing at all?



    Not really. Housing as a percent of the economy is less then 1%. What set this off was securization of the mortgages, fraudulent ratings (which the GOP refuses to support regulation to stop) and over leverage by investment banks.
    I guarantee you, if the mortgages were not securitized, or at least all C grade level mortgages were not, we would not be in this mess.

    You really have no idea what I'm talking about do you?
    I knew it was going to be Bush's fault...

    Maybe if Dodd and Frank hadn't pushed banks, especially Fannie and Freddie, to make loans that they knew wouldn't go to term, we wouldn't be in this mess.

    The mess might have happened, no matter what, but at least we wouldn't be up to our eyeballs in government debt and the only answer to the problem that anyone can come up with is more bailouts, more government interference and more entitlements. Only the private sector can repair the economy. Not the government.

    Where was the SEC when all this was going on? Jacking off under their desks while they watched internet porn?

    It all boils down to one inescapable fact: in a free market, a poorly operated business falls and a new one takes it place to fill the supply vacuum.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by apdst View Post
    I knew it was going to be Bush's fault...
    Come again? Oh man, this is going to be worth a couple laughs downstairs. Where did I mention Bush? Oh right, I didn't. You just can't read. What I said was that the GOP is against the regulation of ratings agencies. If you paid any attention to the news, that's what is happening now.

    Maybe if Dodd and Frank hadn't pushed banks, especially Fannie and Freddie, to make loans that they knew wouldn't go to term, we wouldn't be in this mess.
    Did I say they weren't to blame. No. What I said is the securitization was the key problem. Housing alone is too small to make a difference in the total economy. Rip out huge sections of equity and assets on Wall Street and that will hurt the economy.

    The mess might have happened, no matter what, but at least we wouldn't be up to our eyeballs in government debt and the only answer to the problem that anyone can come up with is more bailouts, more government interference and more entitlements. Only the private sector can repair the economy. Not the government.
    So more partisan talking points and no actual understanding of macroeconomics?

    Not surprising.

    You still haven't shown you have any idea what a CDS is.

    Where was the SEC when all this was going on? Jacking off under their desks while they watched internet porn?
    Which actually is Bush's fault. After all, he cut their branch that oversees this kind of stuff to a mere 24 people for the ENTIRE country.

    It all boils down to one inescapable fact: in a free market, a poorly operated business falls and a new one takes it place to fill the supply vacuum.
    It amuses me how you think that ignorant talking points are a substitute for actual understanding.

    You really do have no idea what I'm talking about do you?

    Well, you did define profit as liquidity. I can't say I'm surprised.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by obvious Child View Post
    Come again? Oh man, this is going to be worth a couple laughs downstairs. Where did I mention Bush? Oh right, I didn't. You just can't read. What I said was that the GOP is against the regulation of ratings agencies. If you paid any attention to the news, that's what is happening now.



    Did I say they weren't to blame. No. What I said is the securitization was the key problem. Housing alone is too small to make a difference in the total economy. Rip out huge sections of equity and assets on Wall Street and that will hurt the economy.



    So more partisan talking points and no actual understanding of macroeconomics?

    Not surprising.

    You still haven't shown you have any idea what a CDS is.



    It amuses me how you think that ignorant talking points are a substitute for actual understanding.

    You really do have no idea what I'm talking about do you?

    Well, you did define profit as liquidity. I can't say I'm surprised.
    Your argument is based totally on double speak and insults. Is that really all you have?

    Which actually is Bush's fault. After all, he cut their branch that oversees this kind of stuff to a mere 24 people for the ENTIRE country.
    See? I told'ya so.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: SEC employees surfed porn as economy fell

    Quote Originally Posted by apdst View Post
    Your argument is based totally on double speak and insults. Is that really all you have?
    Keep going. This place hasn't had this level of entertainment lately.

    1) You have no understanding of what a CDS is
    2) You have no understanding of how firms are related
    3) You have no understanding of what rating agencies do
    4) You have no understanding of securitization is
    5) You have no understanding of how credit flows in the country
    6) You have no understanding that the GOP now is not Bush
    7) You have no understanding that 1% of the economy cannot bring about a recession

    I can keep going. I ask you questions and you never answer them. What does that suggest about your level of knowledge?

    I bet you cannot even explain my arguments.

    See? I told'ya so.
    One truly must wonder if you can read. You accused me of saying Bush was at fault for the entire mess. What I stated was Bush was a fault for the massive cuts to the SEC. How you think that is the same thing, I don't know. But I'm literate. Not so sure about you.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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