View Poll Results: Was it Ever?

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  • Yes

    6 18.75%
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    18 56.25%
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Thread: Was A Big Deal Ever Possible?

  1. #141
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    Maybe. But we'll see.
    as I understand it, we will take in about 180 Billion. Servicing the debt will require 30 Billion. I'm no astrophysiologicist, but it seems to me that 180 > 30


    oh look! quietly Obama is telling the banks the same thing.


    looks like the Munificent Sun God President just pulled the rug out from under you

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by cpwill View Post
    as I understand it, we will take in about 180 Billion. Servicing the debt will require 30 Billion. I'm no astrophysiologicist, but it seems to me that 180 > 30


    oh look! quietly Obama is telling the banks the same thing.


    looks like the Munificent Sun God President just pulled the rug out from under you
    The debt ceiling will not be stabilized by either party because the real cause of our poor economy is not being addressed, we have a revenue problem that can only be solved by creating work, real jobs that pay a descent living wage, MacDonald and Walmart are okay but the wage that they pay will not produce the tax revenues that we need to fuel our economy.

    We are in a boat heading quickly in the wrong direction and we have no paddles in other words we are up ch-t creek without a paddle.

  3. #143
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by cpwill View Post
    as I understand it, we will take in about 180 Billion. Servicing the debt will require 30 Billion. I'm no astrophysiologicist, but it seems to me that 180 > 30


    oh look! quietly Obama is telling the banks the same thing.



    looks like the Munificent Sun God President just pulled the rug out from under you
    So, you're suggesting paying the debt, but not our national committments? Is that what I'm to understand?

    Why is you guys never think in complete context?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  4. #144
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    Re: Was A Big Deal Ever Possible?

    Also CP, read your own article. The president has a responsibility to keep panic down, and not send the stock market over the edge. See the big picture, take in all of it, not just a small part you choose to focus on, as if nothing else exists.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  5. #145
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    No problem. I sometimes have to come back to something myself.

    That's what I linked the film. They do mention this. Don't know if I have that part linked for sure, but in the film they do discuss it.
    I didn't get to watch the movie but did read the commentary. It notes how there still isn't adequate regulations. That may be true but irrelevant to the fact that nobody is holding GS responsible for their actions. There ARE regulations in place. They are just being ignored. Just that same as there were many of these banks that ran afoul of Sarbannes/Oxley but not a single CEO has been charged.

    That's the problem with those who claim we need more and more regulations. No, we just need the ones we have enforced. It's in large part why people do not have faith in the economy and the government right now. Watching G.S. make record profits while we are forced to eat their fraud isn't how you get people to get back to normal. Telling people that bank execs are immune from the laws of the country isn't going to make people have faith in the government.

    People rant and rave over how one party or the other is at fault BUT it's clearly both parties. Bush and the GOP should have never agreed to have bailed them out in the first place and Obama has done absolutely nothing to enforce the rules and regulations we have in place to deter actions like this.

    Back to the topic, it's a large reason a "big deal" is not possible. Reid, Boehner, Pelosi, McConnel all need to go.

  6. #146
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    Also CP, read your own article. The president has a responsibility to keep panic down, and not send the stock market over the edge. See the big picture, take in all of it, not just a small part you choose to focus on, as if nothing else exists.
    You want to keep panic down? Do what he is supposed to do. Enforce our laws. Quit with this idea that taxpayers are responsible for the banks bad debts. If he did that, the economy would quickly turn around. It would also help to fire Geithner and Bernanke.

    How are people to have faith in an economy run by the very guy who had a hand in helping to bring it down? (remember, Benny said just before they exploded that the banks were on solid footing)

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by 1Perry View Post
    I didn't get to watch the movie but did read the commentary. It notes how there still isn't adequate regulations. That may be true but irrelevant to the fact that nobody is holding GS responsible for their actions. There ARE regulations in place. They are just being ignored. Just that same as there were many of these banks that ran afoul of Sarbannes/Oxley but not a single CEO has been charged.

    That's the problem with those who claim we need more and more regulations. No, we just need the ones we have enforced. It's in large part why people do not have faith in the economy and the government right now. Watching G.S. make record profits while we are forced to eat their fraud isn't how you get people to get back to normal. Telling people that bank execs are immune from the laws of the country isn't going to make people have faith in the government.

    People rant and rave over how one party or the other is at fault BUT it's clearly both parties. Bush and the GOP should have never agreed to have bailed them out in the first place and Obama has done absolutely nothing to enforce the rules and regulations we have in place to deter actions like this.

    Back to the topic, it's a large reason a "big deal" is not possible. Reid, Boehner, Pelosi, McConnel all need to go.
    They go beyond that in the film, and not how many who work for the government has ties to firms like Goldman Sachs.

    And while we have some regulations in place, it is the ones we lsot as we deregulated that allowed such things to happen, not to mention folks like Greenspan refused to actually do what he / they could have done.

    Now, sure, people rant. I personally blame both parties and don't see all that much difference between the two. At least not as much difference as we should see. And for the record, I have no problem with your lasr sentence.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    They go beyond that in the film, and not how many who work for the government has ties to firms like Goldman Sachs.
    Yes, in the past AND currently. There is absolutely not difference in the GOP or Dems on this matter. None.

    And while we have some regulations in place, it is the ones we lsot as we deregulated that allowed such things to happen, not to mention folks like Greenspan refused to actually do what he / they could have done.
    Some of the regulations that were removed (under Clinton) allowed fraud to happen (under CLinton and Bush) but much of this fraud was still things we could have stopped (mostly under Bush) but did not. It was removed for two reasons though. So the investment banks could make record profits and so that people like Barney Frank could try their social experiments out on the country.

    Now, sure, people rant. I personally blame both parties and don't see all that much difference between the two. At least not as much difference as we should see. And for the record, I have no problem with your lasr sentence.
    Thanks but unfortunately those who understand that it's a problem with government (working with a financial system happy to go along) and not a party specific problem are few.

  9. #149
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by 1Perry View Post
    Yes, in the past AND currently. There is absolutely not difference in the GOP or Dems on this matter. None.



    Some of the regulations that were removed (under Clinton) allowed fraud to happen (under CLinton and Bush) but much of this fraud was still things we could have stopped (mostly under Bush) but did not. It was removed for two reasons though. So the investment banks could make record profits and so that people like Barney Frank could try their social experiments out on the country.



    Thanks but unfortunately those who understand that it's a problem with government (working with a financial system happy to go along) and not a party specific problem are few.
    We agree it si not a party specific problem, and that there is little to no difference between the parties. However, I think you put too much, and I would call it partisan, emphasis on Frank. There are proper reasons for wanting more Americans to become homeowners.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  10. #150
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    Re: Was A Big Deal Ever Possible?

    Quote Originally Posted by Boo Radley View Post
    And while we have some regulations in place, it is the ones we lsot as we deregulated that allowed such things to happen, not to mention folks like Greenspan refused to actually do what he / they could have done.

    Now, sure, people rant. I personally blame both parties and don't see all that much difference between the two. At least not as much difference as we should see. And for the record, I have no problem with your lasr sentence.
    Why not blame the big finance banks, like Goldman, in addition to the fed (formerly Greenspan) then, since you noted they were a big part of the issue? You have to blame them first, then seek to get backing by one or both political parties on the issue. If you simply blame both political parties, that makes neither have to change any behavior, since it becomes a moot point.

    I mean that to us all, not so much you...beause you're right about some of the causes, but we all screw up when it comes to how to fix it (including government).

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