Scapegoats
In another group someone claimed George W Bush was a “scapegoat”. With that in mind, let's catalog the drivers that have created this Recession, and make sure we agree when these collective actions happened.
Dagon, your biggest mistake so far is assuming you think know what I will or will not understand. That's a display of willful ignorance.
The rest of your mistakes are merely displays of willful arrogance.
We're not always at war? Dagon?
view link (Readers note: the article reveals we've been at war 50% of the time since WWII)
How long has our latest round been going on? Not to mention your statement makes no sense since your backtracking:
"A lot of stuff the military used to do has been outsourced. This is because one of our political parties continues to cut the military budget..." -Dagon
"...The funding for the ancillary stuff was removed from the running budget, hooda, for the obvious reason that we're not always at war." -Dagon
Now, on to the weather.
"The accumulation of greenhouse gases in the atmosphere will almost certainly cause Earth's surface temperature to rise. But we do not know how quickly the planet will warm or how that warming will affect different regions of the globe." view link
This quote is directly off of NOAA's website, under Climate Research.
You do know what NOAA is, don't you Dagon? While I'm at it, do you know which government department oversees NOAA?
Why, the Department of Commerce, Dagon.
Fancy that. It's in our country's best interest, it's very sovereignty, to understand correctly not only how the weather works but how it might effect our economy.
Do you wanna know the political affiliation of the president which started it?
"NOAA was formed on October 3, 1970 after Richard Nixon proposed creating a new department to serve a national need "...for better protection of life and property from natural hazards...for a better understanding of the total environment...[and] for exploration and development leading to the intelligent use of our marine resources..."
I'm done.
The rest of your mistakes are merely displays of willful arrogance.
We're not always at war? Dagon?
view link (Readers note: the article reveals we've been at war 50% of the time since WWII)
How long has our latest round been going on? Not to mention your statement makes no sense since your backtracking:
"A lot of stuff the military used to do has been outsourced. This is because one of our political parties continues to cut the military budget..." -Dagon
"...The funding for the ancillary stuff was removed from the running budget, hooda, for the obvious reason that we're not always at war." -Dagon
Now, on to the weather.
"The accumulation of greenhouse gases in the atmosphere will almost certainly cause Earth's surface temperature to rise. But we do not know how quickly the planet will warm or how that warming will affect different regions of the globe." view link
This quote is directly off of NOAA's website, under Climate Research.
You do know what NOAA is, don't you Dagon? While I'm at it, do you know which government department oversees NOAA?
Why, the Department of Commerce, Dagon.
Fancy that. It's in our country's best interest, it's very sovereignty, to understand correctly not only how the weather works but how it might effect our economy.
Do you wanna know the political affiliation of the president which started it?
"NOAA was formed on October 3, 1970 after Richard Nixon proposed creating a new department to serve a national need "...for better protection of life and property from natural hazards...for a better understanding of the total environment...[and] for exploration and development leading to the intelligent use of our marine resources..."
I'm done.
about 1 month ago
Then let me continue lol ...
Science is the only discipline built on skepticism. It's the job of every scientist to question, and test, his or her own conclusions, and those of colleagues.
The whole fact GWDs are trying to debunk – that there is a broad consensus among scientists that global warming is real, caused by humans and a serious threat – was only articulated because of hoaxes perpetrated by the so-called skeptics on this list. By undermining the press and politicians on the issue, those global warming skeptics helped keep the problem from being recognized, let alone addressed, for years. One could say they stood squarely in the path of truth, and thwarted its progress, jujitsu-style, until finally being overrun by a triumphantly emboldened mass.
If you hunger for lists of skeptics – the scientific kind with true expertise – we have some recommendations.
For instance, the American Geophysical Union, which includes 50,000 earth, ocean and atmospheric scientists, among others, whose first mission is to value the scientific method (rational skepticism), has stated since 2003 that "Human activities are increasingly altering the Earth's climate. These effects add to natural influences that have been present over Earth's history. Scientific evidence strongly indicates that natural influences cannot explain the rapid increase in global near-surface temperatures observed during the second half of the 20th century. ... The unprecedented increases in greenhouse gas concentrations, together with other human influences on climate over the past century and those anticipated for the future, constitute a real basis for concern."
And if you, like Dagon, value international expertise, consider the Intergovermental Panel on Climate Change. By some estimates, 2,000 scientists have participated. Their sole purpose is to state consensus about global warming, humankind's role in causing it and its likely effects. The panel spoke clearly last year that it is nearly certain that human pollution is making the climate warmer, and that it will have dire consequences around the world.
A good online resource for information on global warming and the wars over science information is DeSmogBlog.
The best thing about Dagon;s latest World Net Daily hoax is that so few people paid it any mind, outside of his allies in the conspiracy theory blogosphere. And thanks to Johnson, we can all peer right up these know-it-all phony magician's sleeves.
view link
Science is the only discipline built on skepticism. It's the job of every scientist to question, and test, his or her own conclusions, and those of colleagues.
The whole fact GWDs are trying to debunk – that there is a broad consensus among scientists that global warming is real, caused by humans and a serious threat – was only articulated because of hoaxes perpetrated by the so-called skeptics on this list. By undermining the press and politicians on the issue, those global warming skeptics helped keep the problem from being recognized, let alone addressed, for years. One could say they stood squarely in the path of truth, and thwarted its progress, jujitsu-style, until finally being overrun by a triumphantly emboldened mass.
If you hunger for lists of skeptics – the scientific kind with true expertise – we have some recommendations.
For instance, the American Geophysical Union, which includes 50,000 earth, ocean and atmospheric scientists, among others, whose first mission is to value the scientific method (rational skepticism), has stated since 2003 that "Human activities are increasingly altering the Earth's climate. These effects add to natural influences that have been present over Earth's history. Scientific evidence strongly indicates that natural influences cannot explain the rapid increase in global near-surface temperatures observed during the second half of the 20th century. ... The unprecedented increases in greenhouse gas concentrations, together with other human influences on climate over the past century and those anticipated for the future, constitute a real basis for concern."
And if you, like Dagon, value international expertise, consider the Intergovermental Panel on Climate Change. By some estimates, 2,000 scientists have participated. Their sole purpose is to state consensus about global warming, humankind's role in causing it and its likely effects. The panel spoke clearly last year that it is nearly certain that human pollution is making the climate warmer, and that it will have dire consequences around the world.
A good online resource for information on global warming and the wars over science information is DeSmogBlog.
The best thing about Dagon;s latest World Net Daily hoax is that so few people paid it any mind, outside of his allies in the conspiracy theory blogosphere. And thanks to Johnson, we can all peer right up these know-it-all phony magician's sleeves.
view link
about 1 month ago
Talk about beating a dead horse, LLL STILL believes that President Bush is to blame for the current financial crisis. President Bush warned congress numerous times.
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001. This used to be on the White House website. The new guy took it off.
Unfortunately, Congress did not act on the president’s warnings:
** 2001
April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.”
** 2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
** 2003
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that “although investors perceive an implicit Federal guarantee of [GSE] obligations,” “the government has provided no explicit legal backing for them.” As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. (”Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO,” OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO’s review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any “legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk.” To reduce the potential for systemic instability, the regulator would have “broad authority to set both risk-based and minimum capital standards” and “receivership powers necessary to wind down the affairs of a troubled GSE.” (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
** 2004
February: The President’s FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: “The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator.” (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to “not take [the financial market's] strength for granted.” Again, the call from the Administration was to reduce this risk by “ensuring that the housing GSEs are overseen by an effective regulator.” (N. Gregory Mankiw, Op-Ed, “Keeping Fannie And Freddie’s House In Order,” Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying “We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System.” (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
** 2005
April: Treasury Secretary John Snow repeats his call for GSE reform, saying “Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system.” (Secretary John W. Snow, “Testimony Before The U.S. House Financial Services Committee,” 4/13/05)
** 2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying “first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options.” (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying “These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I’ve called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon.” (President George W. Bush, Discusses Housing, The White House, 12/6/07)
** 2008
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says “A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully.” (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and “move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages.” (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and “modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes.” (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
“Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08)
“[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
“Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying “we need to pass legislation to reform Fannie Mae and Freddie Mac.” (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President’s call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
But don't take Dagon and my word for all this. Here's the Dems, in their own words, running interference for Fannie and Freddie, courtesy of C-SPAN and Youtube.
view link
...and beating up on the regulators who found improprieties.
view link
The White House released this list of attempts by President Bush to reform Freddie Mae and Freddie Mac since he took office in 2001. This used to be on the White House website. The new guy took it off.
Unfortunately, Congress did not act on the president’s warnings:
** 2001
April: The Administration’s FY02 budget declares that the size of Fannie Mae and Freddie Mac is “a potential problem,” because “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.”
** 2002
May: The President calls for the disclosure and corporate governance principles contained in his 10-point plan for corporate responsibility to apply to Fannie Mae and Freddie Mac. (OMB Prompt Letter to OFHEO, 5/29/02)
** 2003
January: Freddie Mac announces it has to restate financial results for the previous three years.
February: The Office of Federal Housing Enterprise Oversight (OFHEO) releases a report explaining that “although investors perceive an implicit Federal guarantee of [GSE] obligations,” “the government has provided no explicit legal backing for them.” As a consequence, unexpected problems at a GSE could immediately spread into financial sectors beyond the housing market. (”Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO,” OFHEO Report, 2/4/03)
September: Fannie Mae discloses SEC investigation and acknowledges OFHEO’s review found earnings manipulations.
September: Treasury Secretary John Snow testifies before the House Financial Services Committee to recommend that Congress enact “legislation to create a new Federal agency to regulate and supervise the financial activities of our housing-related government sponsored enterprises” and set prudent and appropriate minimum capital adequacy requirements.
October: Fannie Mae discloses $1.2 billion accounting error.
November: Council of the Economic Advisers (CEA) Chairman Greg Mankiw explains that any “legislation to reform GSE regulation should empower the new regulator with sufficient strength and credibility to reduce systemic risk.” To reduce the potential for systemic instability, the regulator would have “broad authority to set both risk-based and minimum capital standards” and “receivership powers necessary to wind down the affairs of a troubled GSE.” (N. Gregory Mankiw, Remarks At The Conference Of State Bank Supervisors State Banking Summit And Leadership, 11/6/03)
** 2004
February: The President’s FY05 Budget again highlights the risk posed by the explosive growth of the GSEs and their low levels of required capital, and called for creation of a new, world-class regulator: “The Administration has determined that the safety and soundness regulators of the housing GSEs lack sufficient power and stature to meet their responsibilities, and therefore…should be replaced with a new strengthened regulator.” (2005 Budget Analytic Perspectives, pg. 83)
February: CEA Chairman Mankiw cautions Congress to “not take [the financial market's] strength for granted.” Again, the call from the Administration was to reduce this risk by “ensuring that the housing GSEs are overseen by an effective regulator.” (N. Gregory Mankiw, Op-Ed, “Keeping Fannie And Freddie’s House In Order,” Financial Times, 2/24/04)
June: Deputy Secretary of Treasury Samuel Bodman spotlights the risk posed by the GSEs and called for reform, saying “We do not have a world-class system of supervision of the housing government sponsored enterprises (GSEs), even though the importance of the housing financial system that the GSEs serve demands the best in supervision to ensure the long-term vitality of that system. Therefore, the Administration has called for a new, first class, regulatory supervisor for the three housing GSEs: Fannie Mae, Freddie Mac, and the Federal Home Loan Banking System.” (Samuel Bodman, House Financial Services Subcommittee on Oversight and Investigations Testimony, 6/16/04)
** 2005
April: Treasury Secretary John Snow repeats his call for GSE reform, saying “Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America… Half-measures will only exacerbate the risks to our financial system.” (Secretary John W. Snow, “Testimony Before The U.S. House Financial Services Committee,” 4/13/05)
** 2007
July: Two Bear Stearns hedge funds invested in mortgage securities collapse.
August: President Bush emphatically calls on Congress to pass a reform package for Fannie Mae and Freddie Mac, saying “first things first when it comes to those two institutions. Congress needs to get them reformed, get them streamlined, get them focused, and then I will consider other options.” (President George W. Bush, Press Conference, The White House, 8/9/07)
September: RealtyTrac announces foreclosure filings up 243,000 in August – up 115 percent from the year before.
September: Single-family existing home sales decreases 7.5 percent from the previous month – the lowest level in nine years. Median sale price of existing homes fell six percent from the year before.
December: President Bush again warns Congress of the need to pass legislation reforming GSEs, saying “These institutions provide liquidity in the mortgage market that benefits millions of homeowners, and it is vital they operate safely and operate soundly. So I’ve called on Congress to pass legislation that strengthens independent regulation of the GSEs – and ensures they focus on their important housing mission. The GSE reform bill passed by the House earlier this year is a good start. But the Senate has not acted. And the United States Senate needs to pass this legislation soon.” (President George W. Bush, Discusses Housing, The White House, 12/6/07)
** 2008
January: Bank of America announces it will buy Countrywide.
January: Citigroup announces mortgage portfolio lost $18.1 billion in value.
February: Assistant Secretary David Nason reiterates the urgency of reforms, says “A new regulatory structure for the housing GSEs is essential if these entities are to continue to perform their public mission successfully.” (David Nason, Testimony On Reforming GSE Regulation, Senate Committee On Banking, Housing And Urban Affairs, 2/7/08)
March: Bear Stearns announces it will sell itself to JPMorgan Chase.
March: President Bush calls on Congress to take action and “move forward with reforms on Fannie Mae and Freddie Mac. They need to continue to modernize the FHA, as well as allow State housing agencies to issue tax-free bonds to homeowners to refinance their mortgages.” (President George W. Bush, Remarks To The Economic Club Of New York, New York, NY, 3/14/08)
April: President Bush urges Congress to pass the much needed legislation and “modernize Fannie Mae and Freddie Mac. [There are] constructive things Congress can do that will encourage the housing market to correct quickly by … helping people stay in their homes.” (President George W. Bush, Meeting With Cabinet, the White House, 4/14/08)
May: President Bush issues several pleas to Congress to pass legislation reforming Fannie Mae and Freddie Mac before the situation deteriorates further.
“Americans are concerned about making their mortgage payments and keeping their homes. Yet Congress has failed to pass legislation I have repeatedly requested to modernize the Federal Housing Administration that will help more families stay in their homes, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance sub-prime loans.” (President George W. Bush, Radio Address, 5/3/08)
“[T]he government ought to be helping creditworthy people stay in their homes. And one way we can do that – and Congress is making progress on this – is the reform of Fannie Mae and Freddie Mac. That reform will come with a strong, independent regulator.” (President George W. Bush, Meeting With The Secretary Of The Treasury, the White House, 5/19/08)
“Congress needs to pass legislation to modernize the Federal Housing Administration, reform Fannie Mae and Freddie Mac to ensure they focus on their housing mission, and allow State housing agencies to issue tax-free bonds to refinance subprime loans.” (President George W. Bush, Radio Address, 5/31/08)
June: As foreclosure rates continued to rise in the first quarter, the President once again asks Congress to take the necessary measures to address this challenge, saying “we need to pass legislation to reform Fannie Mae and Freddie Mac.” (President George W. Bush, Remarks At Swearing In Ceremony For Secretary Of Housing And Urban Development, Washington, D.C., 6/6/08)
July: Congress heeds the President’s call for action and passes reform of Fannie Mae and Freddie Mac as it becomes clear that the institutions are failing.
But don't take Dagon and my word for all this. Here's the Dems, in their own words, running interference for Fannie and Freddie, courtesy of C-SPAN and Youtube.
view link
...and beating up on the regulators who found improprieties.
view link
about 1 month ago
bhubbel1 - surely you know that's all a NewsMax and Fox News conspiracy?
about 1 month ago
Prior to 2007 Republicans controlled congress for ten years. Bush was barking at his own party. Nothing happened. I wouldn't be surprised if Cheney had Bush give the issue lip service the whole time as a red herring to disguise his real motives, but now I'm just gossipping.
One year after democrats took over, reform legislation is passed. So, can I make it official and say the democrats took only one year to accomplish what republicans 'wouldn't' do in six?
One year after democrats took over, reform legislation is passed. So, can I make it official and say the democrats took only one year to accomplish what republicans 'wouldn't' do in six?
about 1 month ago
If you want to make that assertion, go ahead. The fact is that this problem has been building for years and Congress (Republicans and Democrats) did nothing. Democrats weren't pounding on the table demanding that these two GSEs be better regulated (watch the videos AGAIN). In fact, it was just the opposite. They were PROMOTING the idea that criteria be relaxed, so that people who couldn't afford it could get a home loan, while the mortgage companies had a "gun to the head" to make the loans.
This goes hand in glove with the idea that a company is "too big to fail". If that is the case, then the company should have to be broken up into smaller parts that, if mismanaged, be allowed to fail. That's the beauty of real, unbridled capitalism: The good, well-run companies are rewarded and the poorly run companies that have inferior products or don't take care of the customer go bankrupt and have to be liquidated.
No mortgage company, it it's right mind, would have made a lot of the loans that were made in the last 6-7 years. But pressured by Congress to "better serve the poor" through the Community Re-investment Act, the mortgage bankers made the loans, packaged a bunch of them together as mortgage backed investments (Did you hear Frank Raines, the CEO of Fannie Mae say "...these loans are practically RISKLESS...." on one of the videos. ), have the investment grading companies cheat on their ratings, and sell them to investors all over the world. Then, when the poor started to default (because their mortgage was an ARM and the monthly payment was going up and up) the whole house of cards collapsed.
To say that ALL of this is George W. Bush's fault, as was the original idea of this thread, I think has been clearly shown to be a theory born out of ignorance of the subject.
This goes hand in glove with the idea that a company is "too big to fail". If that is the case, then the company should have to be broken up into smaller parts that, if mismanaged, be allowed to fail. That's the beauty of real, unbridled capitalism: The good, well-run companies are rewarded and the poorly run companies that have inferior products or don't take care of the customer go bankrupt and have to be liquidated.
No mortgage company, it it's right mind, would have made a lot of the loans that were made in the last 6-7 years. But pressured by Congress to "better serve the poor" through the Community Re-investment Act, the mortgage bankers made the loans, packaged a bunch of them together as mortgage backed investments (Did you hear Frank Raines, the CEO of Fannie Mae say "...these loans are practically RISKLESS...." on one of the videos. ), have the investment grading companies cheat on their ratings, and sell them to investors all over the world. Then, when the poor started to default (because their mortgage was an ARM and the monthly payment was going up and up) the whole house of cards collapsed.
To say that ALL of this is George W. Bush's fault, as was the original idea of this thread, I think has been clearly shown to be a theory born out of ignorance of the subject.
about 1 month ago
"This goes hand in glove with the idea that a company is "too big to fail". If that is the case, then the company should have to be broken up into smaller parts that, if mismanaged, be allowed to fail. That's the beauty of real, unbridled capitalism..."
Now your liberal is showing. Are you sure you understand the concept of "unbridled capitalism"?
Now your liberal is showing. Are you sure you understand the concept of "unbridled capitalism"?
about 1 month ago
Don't forget Bhubbell, BoyGeorge was just a master puppet. A lot of this was Cheney.
Wow, suddenly I want to write a contemporary dark spin on Pinochio.
Wow, suddenly I want to write a contemporary dark spin on Pinochio.
about 1 month ago
Comment deleted by an Administrator
...betcha' hubs and drag will be surprised by this, you betch'a (wink):
So much for Bush scolding Freddie and Fanny ROFLMAO ...
So much for Bush scolding Freddie and Fanny ROFLMAO ...
about 1 month ago
