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Thread: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

  1. #61
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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by Conservative View Post
    Why would anyone waste their time trying to explain anything to you as you would ignore it? Facts don't matter to those who are economically challenged and are looking for someone else to blame for their own personal problems.

    Regardless of what you think, you really aren't smarter than anyone else so if you can be successful so can millions of others without govt. help.

    In spite of what you feel you cannot reform the financial institutions without reform for Fannie Mae and Freddie Mac just like you cannot hold private business responsible for the same things bureaucrats are doing with taxpayer dollars. We have a 13 trillion dollar debt and rising so those bureaucrats need to get the people's house in order before raking CEO's of private business over the coals.
    Your post reads like this: I don't want to answer the questions in the post because my head would explode to know the truth so instead I'll make some nonsense up so I have something to run my yap about.

    Every post of yours ignores the real problem which indicates to me you have an agenda. Tell us what that agenda is as it certainly isn't to benefit the average American.
    Every post of yours ignores the real problem which indicates to me you have an agenda. Tell us what that agenda is as it certainly isn't to benefit the average American.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by UtahBill View Post
    Do we need high growth rates? Isn't that part of the problem?
    Surely a steady, even if slow, growth rate is preferred to wild oscillations?
    No, because wild oscillations provide the opportunity for the privileged to make a lot of money before things turn to ****.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by digsbe View Post
    Easy, spend less. The government wastes so much money and overpays for many projects. The government needs to make serous cuts and live within its means like any normal person. The government needs to shrink and drastically reduce spending in areas that it can.
    Quote Originally Posted by Z3n View Post
    So not spending to get out of a recession?
    Interesting how everyone who continues to complain about government spending or the ARRA (stimulas bill) completely ignore the fact that the Dows has risen above Oct 2008 levels and is still climbing...not skyrocketing, but still ticking upward, that business are starting to sell and manufactur products to replenish inventories and the American people are buying goods and services again. (Read report here of 1Q2010 corpoerate earnings)

    Consumer spending has risen for five straight months, retail sales for four, and restaurant sales surged this spring after being stagnant since 2008. Profits from those sales reflect a healthier economy, as opposed to the drastic cost-cutting that helped companies improve their bottom lines in recent quarters.

    Among the latest winners, Ford Motor Co. did an about-face from a year ago in reporting a $2.1 billion profit on 15 percent higher revenue; it plans to boost production. Caterpillar Inc. also reversed a loss from a year ago and said demand for its construction and mining equipment is surging.

    Royal Caribbean Cruises Ltd. returned to a first-quarter profit as more travelers vacationed on its ships and spent additional money on board. UPS Inc. posted a 33 percent profit increase; it said tech firms are shipping more products and other industries are restocking inventories.

    A parade of other Fortune 500 corporations also have boosted their full-year profit forecasts this month. This week alone, the list includes DuPont Co., Estee Lauder Cos. and Whirlpool Corp.
    As to financial reform, even the headline on FoxNews.com reads, "Republicans Poised to End Stall on U.S. Banking Bill," a clear indication that it's diversionary tactics once again by Republicans despite many of them claiming that Wall Street desperately needs regulatory reform (or for the regulators to do their jobs...you decide which is more right). But if the headline didn't grab you, maybe this will...

    From the FoxNews article...

    Republicans had already begun to drop their complaints that the Democrats' legislation would perpetuate bailouts, and had shifted their criticism to a consumer protection provision that they say goes too far.
    How the hell does legistlation that protects the consumers end up being considered too broad, i.e., "going too far?" I thought the first responsibility politicians had was to the People, not big business? Of course, there will be some who will once again argue how this country was founded on capitalism, blah, blah, blah (...ummm, Conservative...) and completely forget who have been truly hurt by Wall Street greed. (Here's a clue...it wasn't Goldman Sachs, BoA, Freddie, Fannie, AIG, or GM. How's your 401K doing?) Regardless on your take, it's about time both sides will finally get to sit down and debate this issue. And this time, let's all hope they get it right for once.
    Last edited by Objective Voice; 04-28-10 at 07:06 PM.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by NoJingoLingo View Post
    No, because wild oscillations provide the opportunity for the privileged to make a lot of money before things turn to ****.
    Leaving just the **** to be divided amongst those who are not in a position to watch things every minute of every day.
    Wall Street investing is a rigged game...
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by lizzie View Post
    Jobs were leaving the US long before the Bush years. That aside, I thought you might be interested in reading this (just for informational purposes):

    "Shipping Jobs Overseas" or Reaching New Customers? Why Congress Should Not Tax Reinvested ... | Daniel Griswold | Cato Institute: Free Trade Bulletin
    I didn't say the U.S. only began to lose jobs during the Bush administration. My comment was in the context of tax cuts, which did nothing to stem the flow.



    Quote Originally Posted by gina
    Excuse me but jobs left they U.S. in droves over the course of 8 years of the Bush administration.

    The question remains, how does lowering taxes any further help when it certainly didn't keep jobs in the U.S.?
    Quote Originally Posted by gina
    I was referring to the quote above in that jobs were leaving the U.S. as Bush twice cut taxes.
    Last edited by Gina; 04-28-10 at 07:22 PM.
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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by digsbe View Post
    Easy, spend less. The government wastes so much money and overpays for many projects. The government needs to make serous cuts and live within its means like any normal person. The government needs to shrink and drastically reduce spending in areas that it can.
    I suggest you spend some time with the budget. This all sounds good, but is no where as easy in practice.

    Bear in mind that Obama inherited a mess. I know the Repubs don't want to acknowledge that, but the economy was in dire, dire straits from Q4 '08 to Q 3 '09. Amongst the casualties of a bad economy is a declining tax base... it fell 15%. You can't just cut spending, particularly in a deep recession... so your thoughts are at least impractical and at most, flat out wrong.

    Obama did promise health care reform. What we got was regulation.

    Wall Street reform, given how close to disaster Wall Street practices took us, is not only prudent government, its a down right imperative. Repubs would be smart to participate and dumb to stand in the way.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by upsideguy View Post
    .

    Obama did promise health care reform. What we got was regulation.

    Wall Street reform, given how close to disaster Wall Street practices took us, is not only prudent government, its a down right imperative. Repubs would be smart to participate and dumb to stand in the way.
    The truth that few want to admit, is that no one knows for sure what caused the financial crisis. If you think you do what exactly will this legislation fix?
    If you can't answer this one question then your imploring people to pass something they know little about is just cheap politics. Not really worthy of debate.

    As you mention we did not get true HC reform after a year of bitter debate. Can we afford to make a similar mistake with our financial industry. Just pass something so you can tell the people you passed reform and punished those evil guys on wall street.

    Something I will agree with is that the American people are getting the government they deserve.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by NoJingoLingo View Post
    Your post reads like this: I don't want to answer the questions in the post because my head would explode to know the truth so instead I'll make some nonsense up so I have something to run my yap about.


    Every post of yours ignores the real problem which indicates to me you have an agenda. Tell us what that agenda is as it certainly isn't to benefit the average American.
    It is a waste of time to respond to the braindead. Nothing changes the mind of someone who hasn't one. You don't want answers to your questions because you cannot handle the truth of those answers. Not sure what your agenda really is but it is obvious to anyone here that whatever it is, it has nothing to do with making this country better or belief in the founders of this nation.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by washunut View Post
    Hard to tell when discussing things on the internet what people know and don't know.
    If they are new, that would be correct. However, enough posts and you can gauge the knowledge of people.

    That being said, do you know that every corportation that has audited financial statements pays for those audits.
    Indeed. But not like how it used to be. Before, firms literally went around to auditing firms to buy unqualified opinions. They went audit shopping. Now you cannot do that. In fact, you even try that and you'll get reported to the SEC within a day or at least a week.

    Yes the practice is lousy, but it is scary to listen to people simplictically trying to demonize one industry.
    The way audits are paid for is considerably different after Sarbes-Oxley. Not really a valid comparison to compare post SOX audits to Pre-SOX audits.

    Polititians have done a great job of driving manufacturing jobs overseas in the last 20 years. We are now largely a service industry.
    Except that the US still is the largest manufacturing country in the world by leaps and bounds. Technology is pretty much killing manufacturing jobs. Replacing a thousand line workers with 5 guys running automated systems.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by digsbe View Post
    Obama ran basically saying he wasn't Bush. People hated Bush for his poor war policy and his government spending. Obama is just like Bush when it comes to deficit spending, only worse.
    Obama's options were:

    A.) Do nothing at all

    B.) Cut taxes

    C.) Enact fiscal spending

    Now while you may not agree, options A & B have had disaterous effects. Please do not bring up Reagan, as that was a different time (debt wise) and different type of recession.

    The world economy is on life support. You would be hard pressed to make a case that we would have been better off.

    People may have elected Obama for what he ran on, but we don't like how he plans on reforming things. The healthcare bill is disliked by the majority of Americans, yet Obama pushed it through and gave democracy a smack to the face. Americans do want reform in all those areas, just not Democrat reform.
    This is what a true leader embodies, doing the right thing even if it is unpopular and leads to "early retirement". While current reform does not address all of the long term spending issues, it is a step in the right direction (imho).
    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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