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

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

    "Neil Barofsky, the former Inspector General of the Troubled Asset Relief Fund, can sum up the state of the nation in two words: "Pretty ****ed." The concise assessment came Tuesday during a question and answer session on Gawker...Barofsky insisted that President Obama's administration, of which Geithner is a part, isn't doing enough to address issues inside the financial industry, saying that Dodd-Frank financial reform doesn't adequately address questions surrounding too-big-to-fail banks...".* Cenk Uygur and Ben Mankiewicz discuss on The Young Turks.

    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!!


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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!!

    To the bold: No, we don't.

    As soon as government swoops in and takes over management of private business, that ceases to be capitalism. You can't blame capitalism for bureaucrats insistence on getting involved in it and rendering it something other than capitalism.
    Last edited by Neomalthusian; 08-13-12 at 08:43 PM.

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

    Quote Originally Posted by Neomalthusian View Post
    To the bold: No, we don't.

    As soon as government swoops in and takes over management of private business, that ceases to be capitalism. You can't blame capitalism for bureaucrats insistence on getting involved in it and rendering it something other than capitalism.
    The government swoops in and helps who? The capitalists... Who are the capitalists a wealthy person who uses money to invests in trade, industry, or machinery, for profit.


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

    Quote Originally Posted by TheDemSocialist View Post
    The government swoops in and helps who? The capitalists... Who are the capitalists a wealthy person who uses money to invests in trade, industry, or machinery, for profit.
    The government swooped in and helped the capitalists because it determined that they needed to be saved for the "greater good". Thats what comes from running government without regard to outcomes and unintended consequences.

    FYI---this is the only time the extreme left and extreme right were in agreement AGAINST the bailouts. Odd that, all the establishment peckerheads on both sides wanted it.

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

    Quote Originally Posted by TheDemSocialist View Post
    The government swoops in and helps who? The capitalists... Who are the capitalists a wealthy person who uses money to invests in trade, industry, or machinery, for profit.
    It's not a failure of capitalism when government takes it over, bails it out, etc. Obviously capitalism leads to some capitalists failing, and government lets them fail, that's capitalism. That's what is SUPPOSED to happen in a capitalist society... failed businesses fail. If government steps in and start managing it, that's not capitalism.
    Last edited by Neomalthusian; 08-13-12 at 10:50 PM.

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

    Quote Originally Posted by Neomalthusian View Post
    It's not a failure of capitalism when government takes it over, bails it out, etc. Obviously capitalism leads to some capitalists failing, and government lets them fail, that's capitalism. That's what is SUPPOSED to happen in a capitalist society... failed businesses fail. If government steps in and start managing it, that's not capitalism.
    But what happens--because of decades of deregulation--to something that is too big to fail?
    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 Neomalthusian View Post
    It's not a failure of capitalism when government takes it over, bails it out, etc. Obviously capitalism leads to some capitalists failing, and government lets them fail, that's capitalism. That's what is SUPPOSED to happen in a capitalist society... failed businesses fail. If government steps in and start managing it, that's not capitalism.
    I never said it was capitalism i said it was corporatism from the get go. Re-read my posts...


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

    Quote Originally Posted by Middleground View Post
    But what happens--because of decades of deregulation--to something that is too big to fail?
    When did you stop beating your wife?

    Nothing is too big to fail.

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

    Quote Originally Posted by Middleground View Post
    But what happens--because of decades of deregulation--to something that is too big to fail?
    What deregulation was this? I don't think the banking industry has ever stopped being regulated since the great depression.
    One who makes himself a worm cannot complain when tread upon.

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

    Quote Originally Posted by Republic Now! View Post
    What deregulation was this? I don't think the banking industry has ever stopped being regulated since the great depression.
    Completely deregulated? True no banking industry was completely deregulated. But one very important deregulation aspect took place and that was the Glass-Stegall Act and history prove what happened when that was repealed.


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