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Thread: U.S. 'Pretty ****ed' - Former TARP Inspector

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by OpportunityCost View Post
    Correct a return of 10% plus down and no LTV plus 20 loans ensures some form of equity.

    Something that has not been investigated or is being investigated very quietly is that Standard and Poor and Moodys were neck deep in evaluating derivatives and were constantly evaluating them entirely too high for investors to know what they were getting into. Similar to the LIBOR issue, the valuers of the derivatives were hand in hand with the sellers creating misleading valuations.
    I haven't followed it recently but I think a court in Italy indicted Standard and Poors. It's been a little while since I read about it so I can't remember the particulars but if you're interested it should be fairly easy to find

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by TheDemSocialist View Post
    [/FONT][/COLOR]U.S. 'Pretty ****ed' - Former TARP Inspector - YouTube

    Welcome to corporatism folks...... Enjoy it while it lasts. We gotta pay for all the mistakes of the capitalistic elite, while we get told its the lazy poor peoples fault... Enjoy it! The coming oligarch! Yayyy!!
    You leave out the fact that banks got in trouble in the first place because democrats forced them to give loans to people that didn't qualify. That annoying little fact is always ignored by you socialist types.

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by OpportunityCost View Post
    You committed a lie of ommision. When you mention only some entities and make sure both of them are republicans you frame the conversation to those two rather than both parties.

    As to "starting" under Reagan, no. Jimmy Carter: Depository Institutions Deregulation and Monetary Control Act of 1980 Remarks on Signing H.R. 4986 Into Law.


    I dont care if youre Egyptian,Finnish or Swiss but stop with false narratives and talking points.
    My original quote:

    The banking deregulation that begun under Reagan and continued until Dubya.

    How is that omitting Clinton?
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by Republic Now! View Post
    I had never heard that Glass-Steagall prevented subprime loaning. Maybe it prevented the bundling of subprime loans in CDOs, but from my understanding, the method used in the housing crisis was largely criminal anyway.
    It didn't in a direct manner, but it did, in that financial institutions were required to maintain satisfactory CRA ratings in order to have FDIC backing. When financial institutions are required to make a set percentage of loans to higher risk customers, and those loans are implicitly backed up by government, the financial institutions have nothing to lose by doing so. Why do you think we bailed them all out?
    "God is the name by which I designate all things which cross my path violently and recklessly, all things which alter my plans and intentions, and change the course of my life, for better or for worse."
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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by Middleground View Post
    My original quote:

    The banking deregulation that begun under Reagan and continued until Dubya.

    How is that omitting Clinton?
    So you should perhaps amend your statement to accurately reflect "Started under Carter, and dramatically exacerbated by Clinton with the repeal of Glass-Steagall"

    Truth is that all the finger pointing is rather useless. Republicans and Democrats all had large roles in the problems we currently face. Blaming the other guys isnt going to get the problem fixed. Neither is throwing good money after bad.

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by VanceMack View Post
    So you should perhaps amend your statement to accurately reflect "Started under Carter, and dramatically exacerbated by Clinton with the repeal of Glass-Steagall"

    Truth is that all the finger pointing is rather useless. Republicans and Democrats all had large roles in the problems we currently face. Blaming the other guys isnt going to get the problem fixed. Neither is throwing good money after bad.
    About the GM bailout: Taxpayer losses tied to auto bailout rise | Fox News
    The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man. ― George Bernard Shaw, Man and Superman

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by ttwtt78640 View Post
    Personally I dont buiy in to the 'too big to fail' bs. I think congress should have acted...a few very basic changes. Banks should not be allowed to package and sell loans...you offer them, you sign them, you own them. Banks should have been required to sit down and work out equitable deals with the homeowners that got into the ARMs. Finally...if a bank goes under, the home notes go to the home buyer...free and clear. The incentive would then have been on the bank owners and their investors to clean their **** up quick, fast, and in a hurry with no need for taxpayer involvement. Bush was wrong for introducing the bailout. Obamas bailouts were also wrong. They have put future generations at risk. Hell...we would have been better off taking all of that bailout money and just given it in lump sums to citizens. That at least would have been a natural form of stimulus. Wrong thing to do...but still more effective than what was done.

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by VanceMack View Post
    So you should perhaps amend your statement to accurately reflect "Started under Carter, and dramatically exacerbated by Clinton with the repeal of Glass-Steagall"

    Truth is that all the finger pointing is rather useless. Republicans and Democrats all had large roles in the problems we currently face. Blaming the other guys isnt going to get the problem fixed. Neither is throwing good money after bad.


    You complain about finger pointing, yet you do it yourself. Jeepers, y'all, get a freakin' grip. There is plenty of blame to go around, no doubt. I think instead of focussing on past Presidents, maybe your attention should be diverted to your politicans who are nothing more than puppets. Money talks.
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by Middleground View Post


    You complain about finger pointing, yet you do it yourself. Jeepers, y'all, get a freakin' grip. There is plenty of blame to go around, no doubt. I think instead of focussing on past Presidents, maybe your attention should be diverted to your politicans who are nothing more than puppets. Money talks.
    Middle would you please stop with such common sense....your going to confuse all of us even more than we are lol

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    Re: U.S. 'Pretty ****ed' - Former TARP Inspector

    Quote Originally Posted by PeteEU View Post
    On paper yes, in reality no. We have seen it time and time again, where capitalism has failed to regulate it self.
    You're missing the point. When I say "it self-regulates" I do not mean it produces literal regulations. I mean when things are allowed to succeed or fail on their own, that has a regulatory (i.e. economic Darwinian) effect.

    Capitalism does nothing for the environment or workers.
    It pays workers, so that's not true.

    That is its primary problem which has lead to new forms of ideology.. socialism, communism, enviormentalism and so on. Capitalism has one goal.. profit
    But that's also the goal of all the individual people within any society: self-betterment. More. For me and my family.

    In the real world, no amount of self regulation would have stopped using children in mines or factories. The capitalists were earning millions doing it, so why change it? Just because a few children died, so what.. they are replaceable. It was only when government came in and said on behalf of all people... no using children is wrong, that the capitalists changed their tunes.
    That is more a function of a society recognizing an age of consent and abolishing slavery. Why is it whenever we talk about free markets the liberals swing it to the extremes of slavery and anarchy?

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