Some Clarity in Financial Reform - easy to understand

[mercury14]

Obama is trying to create the perfect storm in the vilification of all activity related to the private sector.

You and Frisco these other righties are monumentally paranoid.

Rather than go all out for the Socialist model he's follwoing the Facist model and a large segment of the population doesn't seem to care.

Maybe because it's not true? Or should I cash out my entire portfolio right now and put it all in Swiss Francs?

 

[mercury14]

Obama is trying to create the perfect storm in the vilification of all activity related to the private sector. Rather than go all out for the Socialist model he's follwoing the Facist model and a large segment of the population doesn't seem to care.

Ishmael

Quick question, Spin. Are you onboard with these kinds of... ravings?

 

[Frisco_Slug_Esq]

You and Frisco these other righties are monumentally paranoid.

WHY???




Because we listen to him, read his books and speeches and actually believe him?

 

[Ishmael]

WHY???




Because we listen to him, read his books and speeches and actually believe him?

*another 'popcorn' moment*

Ishmael

 

[firespin]

Quick question, Spin. Are you onboard with these kinds of... ravings?

Not so much. No such thing as "silence implies assent" (or consent) on a message board.

 

[unregistered]

 

[Frisco_Slug_Esq]

*another 'popcorn' moment*

Ishmael

Cue Richard Pryor...



WHO you gonna believe bitch...,

 

[Ishmael]

Cue Richard Pryor...



WHO you gonna believe bitch...,

I loved the paranoia crack. The left NEVER does that. *chuckle*

Ishmael

 

[Frisco_Slug_Esq]

I loved the paranoia crack. The left NEVER does that. *chuckle*

Ishmael

*spit*


Ah reckon so...

 

[firespin]

I loved the paranoia crack. The left NEVER does that. *chuckle*

Ishmael

They like to assume that their conversations are so engaging that the NSA will stop at nothing to listen in.

If the truth was known, their egos would suffer serious bruising.

 

[mercury14]

Not so much. No such thing as "silence implies assent" (or consent) on a message board.

I didn't think you did.

 

[mercury14]

*another 'popcorn' moment*

Ishmael

Waiting for me to explain why you're paranoid, raving loons is a 'popcorn moment'?

Your popcorn moments are dumb.

I just choked on a piece of rice, and in the process of coughing shot it about 20 feet!

 

[Frisco_Slug_Esq]

You can still build coal-fired plants, you'll just go broke operating them...

 

[unregistered]

 

[MeeMie]

Obamanomics Has a Pronounced Right-Wing Bias


Contrary to those ridiculous commercials about what a great place California is to do business, actual CEOs rate California the worst place in the USA to do business.

The worst states in the USA to do business are California, New York, New Jersey, Michigan, and Massachusetts.

How can this be, right?

All of those states use the Progressive Success Model: High taxes coupled with lavish "government services" (i.e. welfare) And plenty of illegal immigrants in the labor force.

The Obama administration tell us that lavish spending on government services brings success because, according to progressive economic theory, the most skilled and creative people in the workforce love having their income confiscated to subsidize bureaucrats and other social parasites. Those states should, according to progressive economics, be the best places in the USA to do business.

According to the same survey, the best states to do business are Texas, North Carolina, Tennessee, Nevada, and Virginia.

How can that be?

Two of those states don't even have a state income tax.

So far, everything progressives claim about economics is turning out wrong.

Big surprise.

 

[unregistered]

 

[firespin]

Only liberals in denial think California is the best place to do business in America. They don't want to own their utter failure here.

I lived in four states on those two lists, and ended up in the only one on the second list.

 

[MeeMie]

Do as I say ... not as I do:

http://www.youtube.com/watch?v=aZ56TGYWz0s

http://www.newsrealblog.com/wp-content/uploads/2010/05/beck_May42010.jpg

 

[mercury14]

Obamanomics Has a Pronounced Right-Wing Bias


Contrary to those ridiculous commercials about what a great place California is to do business, actual CEOs rate California the worst place in the USA to do business.

The worst states in the USA to do business are California, New York, New Jersey, Michigan, and Massachusetts.

How can this be, right?

All of those states use the Progressive Success Model: High taxes coupled with lavish "government services" (i.e. welfare) And plenty of illegal immigrants in the labor force.

The Obama administration tell us that lavish spending on government services brings success because, according to progressive economic theory, the most skilled and creative people in the workforce love having their income confiscated to subsidize bureaucrats and other social parasites. Those states should, according to progressive economics, be the best places in the USA to do business.

According to the same survey, the best states to do business are Texas, North Carolina, Tennessee, Nevada, and Virginia.

How can that be?

Two of those states don't even have a state income tax.

So far, everything progressives claim about economics is turning out wrong.

Big surprise.

C&P partisan blog C&P partisan blog C&P partisan blog C&P partisan blog C&P partisan blog C&P partisan blog

 

[RightField]

Having a pro business environment isn't the problem as far as creating jobs. It's that jobs are massively cheaper overseas. No real wages, no workers' rights, no OT, no retirement, no benefits, no worker's comp. No paying benefits in case of layoffs/firings.

This recession has been a fantastic opportunity for our businesses to do some massive backdoor outsourcing. Normally businesses take flak for moving jobs overseas. But if they can use the recession to lay off workers, then 18 months later do their re-hiring in Bangladesh, it's all on the down-low.

This phenomenon is happening like never before due to the severity of the recession. And it's not just factory jobs. My buddy is an aerospace engineer for General Electric in Cincinnati. They laid off 25% of his department during the recession and have no rehiring plans outside of Chennai, India.

lol....jobs are massively cheaper overseas because the business tax here is now the second highest in the world (Obama's taxes) and growing with the advent of the healthcare bill. It's Obama'as policies that are driving jobs out of the country.

 

[RightField]

Wishful thinking or turning a blind eye doesn't change the fact that this administration's policies are anti-business and are partically responsible for driving jobs out of our country.

 

[hogjack]

lol....jobs are massively cheaper overseas because the business tax here is now the second highest in the world (Obama's taxes) and growing with the advent of the healthcare bill. It's Obama'as policies that are driving jobs out of the country.

I am no fan of President Obama (nor Democrats/Republicans in general) but you might want to look at jobs data for the past twenty years. You'll discover that the Republicans were in complete in charge at the Federal level during periods when hundreds of thousands jobs were leaving the United States but they did jack shit about it.

Jobs are not just "massively cheaper overseas because the business tax here...". There are many other factors at play both domestic and international.

Economic complexity nor history seem to be your strong suits.

 

[RightField]

I am no fan of President Obama (nor Democrats/Republicans in general) but you might want to look at jobs data for the past twenty years. You'll discover that the Republicans were in complete in charge at the Federal level during periods when hundreds of thousands jobs were leaving the United States but they did jack shit about it.

Jobs are not just "massively cheaper overseas because the business tax here...". There are many other factors at play both domestic and international.

Economic complexity nor history seem to be your strong suits.

So, clearly high taxes are making our products less competitive overseas so what's the logical thing to do????

Expand government massively, add new entitlements we can't pay for, emulate Greece, add many new taxes to our businesses, scapegoat businesses (including banks, insurance companies, pharma, healthcare etc) and tell the people of the United States that you're doing everything you can to bring back jobs.

Roman Emperors used to give away free tickets to the coliseum to watch Christians get eaten by lions to entertain them and "earn" support. I wonder if that's in our future.

 

[RobDownSouth]

Mort Zuckerman: Congress Had a Role in the Financial Crisis
By Mortimer B. Zuckerman - Newsweek
Posted April 30, 2010

<snippity doo dah>

But we also need to understand how the housing market got as hot as it did. Why did it keep rising, generating more and more derivatives geared to a rising market? It turns out that Fannie Mae, Freddie Mac, and the Federal Housing Administration had financed a lot more subprime and Alt-A (alternative documentation) loans than anyone realized, mostly as a result of congressional mandates. Indeed, of their total outstanding mortgage portfolios of $10.6 trillion, roughly half turned out to be of low quality. Had this been known, it would have been clear that the American public's capacity to assume this amount of housing debt was at great risk.


<snippity doo dah>

The problem is that the Obama administration is eager to blame the economic decline on a bunch of "fat-cat," "greedy bankers" from Wall Street who were bailed out by the government. The president himself stated to the bankers, "You guys caused the problem." They did not. These particular problems were caused by the bubble in the housing market created in large part by Congress. Democrats who seek to cast Wall Street as the villain forget the congressional mandate they placed on Fannie Mae and Freddie Mac to put 55 percent of their funding into mortgages for people at or below the median income.

<snippity doo dah>

As the administration tries to assess blame for the economic decline, let's not forget the role of Congress and the acceptance by members of millions of dollars a year in lobbyist contributions to support Fannie Mae and Freddie Mac.

The oversimplification of these issues in hostile congressional hearings is a disservice to the public.

Paul Krugman uses facts to demolish the right wing talking points attempting to pin the blame for the housing bubble on Fannie Mae and Freddie Mac.

(Specific lies highlighted in red above)

Long story short: It became easy and profitable to issue mortgage backed securities in 2004-2006 so money center banks bypassed Fannie Mae and Freddie Mac in order to squeeze every last dime of profit out of mortgage-based collateralizations and derivatives.

Banks therefore elbowed Fannie Mae out of the way in their haste to write subprime loans.

 

[firespin]

Paul Krugman uses facts to demolish the right wing talking points attempting to pin the blame for the housing bubble on Fannie Mae and Freddie Mac.

(Specific lies highlighted in red above)

Long story short: It became easy and profitable to issue mortgage backed securities in 2004-2006 so money center banks bypassed Fannie Mae and Freddie Mac in order to squeeze every last dime of profit out of mortgage-based collateralizations and derivatives.

Banks therefore elbowed Fannie Mae out of the way in their haste to write subprime loans.

Krugman may have a Nobel prize, but he's still a partisan hack who tries to present things in the most convenient way possible.

If Fannie and Freddie were blameless and maintained high lending standards, there share of issuance would have fallen much more than these charts show. But, of course, they did relax their standards.

The proof of my claim would be in the amount of money that has been directed at those two GSEs vs. all other mortgage bond issuers. What's the total now on the Fannie / Freddie bailout? Oh, right: $144B and counting with $18B in just the last month. And how much have they paid back? Oh, right...zero.