1929 Headlines: Future looks bright (loans, credit, amex, borrow)

[Woof Woof Woof!]

In 1929, the stock market was erratic, up one day, down the next. Politicians and media often reported good news. Read the headlines from the period.


"....Throughout 1929 daily papers reported that the future looked bright for investors -- even after the devastating market crash in October. Read newspaper excerpts from three New York papers: The World, The New York Herald Tribune, and The New York Times."

http://www.pbs.org/wgbh/amex/crash/s...headlines.html

[CarolinaCowboy]

There was good news here and there and many, many times we began pulling out of the mess. This until they raised taxes to try and tax their way out of the mess. This futher caused the destruction of business closures and job losses. Sound familair? We have a canidate who has this same solution for us right now. Perhaps he, Obama should pick up a history book and READ! He raises taxes right now on those 'evil rich corporations" and he will drive the final nail into our economic coffin.

[davidt1]

Originally Posted by CarolinaCowboy

There was good news here and there and many, many times we began pulling out of the mess. This until they raised taxes to try and tax their way out of the mess. This futher caused the destruction of business closures and job losses. Sound familair? We have a canidate who has this same solution for us right now. Perhaps he, Obama should pick up a history book and READ! He raises taxes right now on those 'evil rich corporations" and he will drive the final nail into our economic coffin.

If you want to play the blame game -- President Bush has been at the helm through all this mess. He was the one who appointed the people who make policy at the Federal Reserve and the Treasury. Take your politics to the politics forum. It's not gonna to work here.

[Woof Woof Woof!]

It's been going on for three decades. The FIRE economy was never going to work.

[StoneOne]

If you want to play the blame game, how about an unholy trinity of power-hungry politician, greedy banker and stupidly gullible consumer?

[CarolinaCowboy]

Originally Posted by davidt1

If you want to play the blame game -- President Bush has been at the helm through all this mess. He was the one who appointed the people who make policy at the Federal Reserve and the Treasury. Take your politics to the politics forum. It's not gonna to work here.

Once again, Bush tried to rein in sub-prime in 2003. Democrats SCREAMED about the poor minority home owner.

McCain tried again with his own bill in 2005, same thing from the demos

In 2007 some banks tried to stop it as they began to see a huge problem. Obama and his cronies sued to prevent them from stopping to write sub-prime loans.

Get your facts straight, I personally blame them all. But to exclude Democrats is just not factual.

[ocnymonty]

Originally Posted by CarolinaCowboy

There was good news here and there and many, many times we began pulling out of the mess. This until they raised taxes to try and tax their way out of the mess. This futher caused the destruction of business closures and job losses. Sound familair? We have a canidate who has this same solution for us right now. Perhaps he, Obama should pick up a history book and READ! He raises taxes right now on those 'evil rich corporations" and he will drive the final nail into our economic coffin.

Deluded!

[texdav]

Obama is going to do nothing really. Look at what his fellow democrats have voted for then look at the deficiet. Do you really think any major spending program will pass in the coming years. Very unlikely we will see a two term presdient with these problems for sometime to come. Anty president that really tries to solve the p[roblem in short oprder will be very unpopular because it will be painful.

[cdelena]

Originally Posted by CarolinaCowboy

Once again, Bush tried to rein in sub-prime in 2003. Democrats SCREAMED about the poor minority home owner.

McCain tried again with his own bill in 2005, same thing from the demos

In 2007 some banks tried to stop it as they began to see a huge problem. Obama and his cronies sued to prevent them from stopping to write sub-prime loans.

Get your facts straight, I personally blame them all. But to exclude Democrats is just not factual.

True... even the NY Times had an article in 1999 warning of coming problems...

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

[Philip T]

Originally Posted by texdav

Obama is going to do nothing really. Look at what his fellow democrats have voted for then look at the deficiet. Do you really think any major spending program will pass in the coming years. Very unlikely we will see a two term presdient with these problems for sometime to come. Anty president that really tries to solve the p[roblem in short oprder will be very unpopular because it will be painful.

Anyone who takes on the role of reining in and killing the bank will not have to worry about being popular or re-elected -- they will be killed.

But if either McCain or Obama gave any hint of reining in the bank they would have never been allowed as the Corporate Parties' (D and/or R) front line candidates.

You really have to understand who they serve. It is not US.