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Thread: Fannie, Freddie Overhaul Could Cost $685 Billion

  1. #11
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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by Deuce View Post
    if Cap and Trade was #2 priority, why did financial reform go through first?
    it was probably nancy's biggest mistake that she crammed cap and trade thru lower house BEFORE starting health care

    you recall the energy bill passed the house by one vote in june of 09

    it then was never picked up in the senate cuz too many upstairs dems just couldn't touch it

    the leaders of NO in upper parliament, i recall, were WHIP durbin, sherrod brown of ohio, ag chair blanche lincoln and stiffneck nelson from nebraska (don't be surprised if nelson suddenly switches parties in the next few months, either that or he'll announce his retirement)

    U.S. Senate Democrats skeptical about climate bill | Reuters

    early word (which does merit following) also has russ feingold mounting an anti war primary challenge vs the president, the highly principled progressive from wisconsin closed his concession speech with something like, "looking forward to 2012..."

    fyi
    Last edited by The Prof; 11-08-10 at 08:58 PM.

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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by Lord Tammerlain View Post
    So why didnt the Republican president, republican congress, republican senate do something about it?

    Sorry I forgot about the all powerfull supreme being Barney "Superman" Franks, the single most powerfull man in the world,
    That is a very legitimate question, and one which highlights the lack of leadership by Bush on many things. The simple answer is the 60 vote threshold in the Senate. But that is not what kept GB from stopping this debacle. Like so many, he did not see it coming before it was too late. As he was Pubah #1, with the most resources, that is not much of an excuse. This entire mess was a joint effort by all in power, going back to Clinton and Cuoma and pals, and extending through Bush and then the Reid-Pelosi Congress in 2007. It was government sticking its ass into capitalism. And we all got $hit on.

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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    This does not address my question. How can our trading partners demand a stable currency and expect us to continue to support their export machines in the tune of > $300,000,000,000 per year ($485,000,000,000 in 2009)?
    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: Fannie, Freddie Overhaul Could Cost $685 Billion

    again, you'd have to ask them

    meanwhile, those from whom you seek clarification have some questions of their own

    At issue is a U.S.-led proposal to prohibit currency manipulation of the kind that U.S. officials say China uses to give its exports an unfair advantage over U.S. made products.

    Doesn’t it “look hypocritical,” Obama was asked at the news conference, to make that demand after the United States last week announced a $600 billion plan to boost U.S. economic growth that will have the effect of driving down the value of the dollar?
    Barack Obama can?t escape economic debate - John Maggs - POLITICO.com
    Last edited by The Prof; 11-09-10 at 01:18 AM.

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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    I just want to note that the SECOND this gets full approval the price tag will skyrocket... probably 3-10 times, or 750billion-1.5 trillion.
    Much like the original 'bailout' was made under threat of martial law and was for '800 billion' when the last time numbers were reported was averaging close to 1.5trillion per month... enough to buy out every home in north america cash upfront... for a total of 27 trillion in promises...

    I know this is "conspiracy zone" talk, but it's been discussed for a LONG TIME that there would be a devaluation of the dollar and ending the dollar as the reserve currency so that all currencies could be 'amalgamated' into a global currency system of some sort (current proposals are the bankor or the SDR's)
    Bancor - Wikipedia, the free encyclopedia
    Currency units per SDR for May 2008

    Not to mention this is only a SMALL FRACTION of the criminality of the big 6 super-banks....
    Last edited by BmanMcfly; 11-09-10 at 02:00 AM.

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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by The Prof View Post
    again, you'd have to ask them

    meanwhile, those from whom you seek clarification have some questions of their own
    I'm not talkintg to them; i have asked you twice. How can the US maintain a stable currency when we have a current account balance greater than $300,000,000,000? The Fed has yet to intervene in the forex market, so the manipulation nonsense is off base.
    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: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by Lord Tammerlain View Post
    So why didnt the Republican president, republican congress, republican senate do something about it?

    Sorry I forgot about the all powerfull supreme being Barney "Superman" Franks, the single most powerfull man in the world,
    They did, but they didn't have the super majority the Democrats had in 2009. The Democrats blocked all efforts to regulate F&F. Even in their new financial reform bill they bragged about Fannie and Freddie were excluded from regulation.
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

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    Re: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by Ikari View Post
    And this is somehow different than if the Republicans were in charge? I'm sure I was on the hook for a lot of those bailouts and crap. Republocrats all want the same thing, protection of the status quo and the aristocracy; even at the cost of the People.
    You're off the reservation. Who would you put in charge?
    "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: Fannie, Freddie Overhaul Could Cost $685 Billion

    Quote Originally Posted by Goldenboy219 View Post
    How can the US maintain a stable currency
    how can we not?

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