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Thread: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

  1. #221
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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by code1211 View Post
    No economist ever does.

    Paul Krugman is wrong on a daily basis and still claims to be right, well, left, oh, you know... correct.

    If you gave 10 economists exactly the same information, and asked for a prediction, you'd get 10 contrasting predictions that all disagreed. Those who predict downturns will eventually be right and Krugman uses this as his stock in trade. We're still awaiting the Trump calamity that Krugman predicted would occur on the day after the election of Trump.

    As far as Greenspan being a broken man, he's in his 90's. Now, I know that's just barely old enough to be a democrat appointed Supreme Court Justice, but to most of us, that's pretty old.
    I said before and after. He was mumbling within a year of the event itself. In fact, he was a mumbling wreck in his very first post event hearing. What the heck are you even yanmering about yourself. Do you have a point here or do you just like the sound of your fingers over the keyboard.
    Last edited by jnug; 07-21-18 at 09:25 AM.

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by jnug View Post
    I said before and after. He was mumbling within a year of the event itself. In fact, he was a mumbling wreck in his very first post event hearing. What the heck are you even yanmering about yourself. Do you have a point here or do you just like the sound of your fingers over the keyboard.
    I do have terrific fingers...
    Every record has been destroyed or falsified, every book has been rewritten, every picture has been repainted, ...every date has been altered. And that process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -George Orwell

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by code1211 View Post
    There's regulation and then there's regulation.

    Regulation of the financial industry is a good thing to a point. It protects the little guys from the big bullies. However, it can be either a guide wire or a noose for the whole economy depending on how the regulations are written and enforced.

    The banking crisis was based on a variety of problems that stemmed from the bundling of home loans that were assumed to have been accurately valued EVEN THOUGH EVERYONE IN THE BUSINESS KNEW THEY WERE NOT ACCURATELY VALUED.

    The bundles were like cars without engines being sold as if they were cherry.

    When the audits occurred and the value of the bundles were pegged correctly, the house of cards fell. Those bundles were not assembled by the guys in the Ivory Towers. They were assembled by the worker ants.
    "Worker ants" who made $millions and their supervisors who made often $10s of millions. And if the guys in the ivory tower don't know their senior leadership is handing out money like it's free to anyone with a pulse, and selling crap for securities and sticking their firms with the dog crap that was so toxic no one would buy it, then they shouldn't be CEOs, because they FAILED at their CORE JOB, which was protecting their firms from blowing up then collapsing, requiring you and me to bail them out.

    The folks who were told that the house they bought in 1995 had doubled in value and so took out that second mortgage did not have a gun to their head and the guy in the ivory Tower did not make them do it.
    No but the guys in the ivory Tower got rich, and the guy who took out the second mortgage got f'd, underwater, many lost their homes and all they had invested in it. I just don't get the reluctance to put the blame where it belongs, at the top. They get paid 7 and 8 figures, and lots of people are all too willing to give them credit, and $10s of millions in bonuses, when the times are good, then those assholes in the penthouse blame the little guys when things turn to crap.

    The folks, like me, who had a 401K that went berserk in that period did nothing but let 'er ride and reaped pretty good benefits.

    Nobody was completely disconnected from the benefits on the way up and those that overextended during the run up really got swatted on the way down.

    Everyone got swatted to some extent on the way down. It happened. It's happened before. It'll happen again.
    I'm just saying when a firm fails, the blame should go to the top. When did it become the American Way to put a sign on the desk - "They buck stops at some little person's desk a few floors down - it's HIS FAULT! I'm just the boss!"

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by JasperL View Post
    "Worker ants" who made $millions and their supervisors who made often $10s of millions. And if the guys in the ivory tower don't know their senior leadership is handing out money like it's free to anyone with a pulse, and selling crap for securities and sticking their firms with the dog crap that was so toxic no one would buy it, then they shouldn't be CEOs, because they FAILED at their CORE JOB, which was protecting their firms from blowing up then collapsing, requiring you and me to bail them out.



    No but the guys in the ivory Tower got rich, and the guy who took out the second mortgage got f'd, underwater, many lost their homes and all they had invested in it. I just don't get the reluctance to put the blame where it belongs, at the top. They get paid 7 and 8 figures, and lots of people are all too willing to give them credit, and $10s of millions in bonuses, when the times are good, then those assholes in the penthouse blame the little guys when things turn to crap.



    I'm just saying when a firm fails, the blame should go to the top. When did it become the American Way to put a sign on the desk - "They buck stops at some little person's desk a few floors down - it's HIS FAULT! I'm just the boss!"
    So you are absolving anyone who did not earn a million or more each year?

    That's your right. I just don't know why you are doing so.
    Every record has been destroyed or falsified, every book has been rewritten, every picture has been repainted, ...every date has been altered. And that process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -George Orwell

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by JasperL View Post
    "Worker ants" who made $millions and their supervisors who made often $10s of millions. And if the guys in the ivory tower don't know their senior leadership is handing out money like it's free to anyone with a pulse, and selling crap for securities and sticking their firms with the dog crap that was so toxic no one would buy it, then they shouldn't be CEOs, because they FAILED at their CORE JOB, which was protecting their firms from blowing up then collapsing, requiring you and me to bail them out.



    No but the guys in the ivory Tower got rich, and the guy who took out the second mortgage got f'd, underwater, many lost their homes and all they had invested in it. I just don't get the reluctance to put the blame where it belongs, at the top. They get paid 7 and 8 figures, and lots of people are all too willing to give them credit, and $10s of millions in bonuses, when the times are good, then those assholes in the penthouse blame the little guys when things turn to crap.



    I'm just saying when a firm fails, the blame should go to the top. When did it become the American Way to put a sign on the desk - "They buck stops at some little person's desk a few floors down - it's HIS FAULT! I'm just the boss!"
    So you are absolving anyone who did not earn a million or more each year?

    That's your right. I just don't know why you are doing so.
    Every record has been destroyed or falsified, every book has been rewritten, every picture has been repainted, ...every date has been altered. And that process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -George Orwell

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by code1211 View Post
    So you are absolving anyone who did not earn a million or more each year?

    That's your right. I just don't know why you are doing so.
    I'm not "absolving" anyone, but, again, I thought the guys in the corner offices making the big bucks and who fly around in private jets and claim credit with the going is good are actually, you know, RESPONSIBLE for the big strategic decisions of their firms.

    What you're doing is putting signs on the CEO desks - "The buck stops down there" pointing to underlings. Or to the banks CUSTOMERS for taking the money they handed out like candy, etc.

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by JasperL View Post
    I'm not "absolving" anyone, but, again, I thought the guys in the corner offices making the big bucks and who fly around in private jets and claim credit with the going is good are actually, you know, RESPONSIBLE for the big strategic decisions of their firms.

    What you're doing is putting signs on the CEO desks - "The buck stops down there" pointing to underlings. Or to the banks CUSTOMERS for taking the money they handed out like candy, etc.
    In what post did I absolve ANYONE?

    To the contrary, I blamed EVERYONE.
    Every record has been destroyed or falsified, every book has been rewritten, every picture has been repainted, ...every date has been altered. And that process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -George Orwell

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by code1211 View Post
    In what post did I absolve ANYONE?

    To the contrary, I blamed EVERYONE.
    Yes, and if it's everyone's fault, it's no one's fault. That is exactly my point!

    The homeowners in LA getting bombarded with ads to borrow $400k with a signature no doc loan aren't the people who caused the bank making that loan and loans totaling $billions and billions more to fail. It's the guys who approved the overall strategy, which is the CEO, the Board of Directors who failed their oversight, the VPs who designed a program of no doc loans to deadbeats, begged deadbeats to borrow money, then paid themselves like kings until the loans went bad, then blamed EVERYONE ELSE for the failure.

    What those guys want is the credit and the fat paychecks when the going is good, then to blame someone else, anyone else, for the failures. Seriously, it's just nonsense. If they aren't DIRECTLY responsible for the big strategic decisions that fail, why are we paying CEOs 7 or 8 figures? They're nothing but figureheads.

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    Re: The Boy Who Cried Wolf, A Story the Progressive-Left Fails to Heed.

    Quote Originally Posted by JasperL View Post
    Yes, and if it's everyone's fault, it's no one's fault. That is exactly my point!

    The homeowners in LA getting bombarded with ads to borrow $400k with a signature no doc loan aren't the people who caused the bank making that loan and loans totaling $billions and billions more to fail. It's the guys who approved the overall strategy, which is the CEO, the Board of Directors who failed their oversight, the VPs who designed a program of no doc loans to deadbeats, begged deadbeats to borrow money, then paid themselves like kings until the loans went bad, then blamed EVERYONE ELSE for the failure.

    What those guys want is the credit and the fat paychecks when the going is good, then to blame someone else, anyone else, for the failures. Seriously, it's just nonsense. If they aren't DIRECTLY responsible for the big strategic decisions that fail, why are we paying CEOs 7 or 8 figures? They're nothing but figureheads.
    You accept my premise with your examples.

    And, in passing, if it's everyone's fault, then it's everyone's fault.

    As was said by many in my youth, "If you're not a part of the solution, you're a part of the cause".

    In this case, we were all complicit.
    Every record has been destroyed or falsified, every book has been rewritten, every picture has been repainted, ...every date has been altered. And that process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -George Orwell

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