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Old 10-23-2008, 03:22 AM
 
Location: Virginia
9,825 posts, read 7,488,152 times
Reputation: 5778
Default Our federal regulators suck.

...federal regulators ignored the warning signs and did nothing to protect the public.

Isn't that kind of the definition of "really sucked?"

Panel grills credit raters over inflated ratings - Economy in Turmoil - MSNBC.com

Umm...

Is it just me or are we trusting the same people who F'd it up to fix it up?
I haven't seen much about federal regulators going to jail for gross incompetence or anything. Seen a lot of "joe consumer was a fool!" and "golden parachutes!" and "All banks fault! All banks fault! LA LA LA! CAN"T HEAR YOU!!! LA LA LA!!! ALL BANKS FAULT!!!"

Just curious.

Wait. Let's take it one step further. Let's say I'm a cop. I see a suspicious dude outside a liquor store at 1 A.M. He's holding a brick in one hand and a pipe wrench in the other. I say to myself, "It's cool, he's probably just gonna wrench on that brick a while." I start whistling and then drive off. He breaks into the store and steals everything.

Did I suck?

Yeah, I sucked.
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Old 10-23-2008, 10:30 AM
 
Location: Houston, TX
15,134 posts, read 14,160,459 times
Reputation: 13448
What can be expected from those whose job desription is basically "Be a waffle and always side with the majority"
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Old 10-23-2008, 10:33 AM
 
Location: Londonderry, NH
32,923 posts, read 26,410,850 times
Reputation: 14900
Most of the regulators are being led by todies appointed by the Republicans and told not to interfere with the financial situations. The professionals were fired or retired.
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Old 10-23-2008, 10:36 AM
 
40,871 posts, read 42,017,499 times
Reputation: 12247
In the end those senate panels really are about diverting blame. The problem is like most crime in that if their are so many not doing their job and then a massive number of peole from Joe public to the guy writing the loans willing to sign false documents that gives false inforamtion to those looking at thousands of documents things brekdown. Congress turned their heads from Fannjie Mac and Fannie Mae and are looking for cover themselves, They critize the regulators for not looking at the loan;but reguse to lok at all to fannie and Mac at all or have anyone the asthroity to;they say that you can have the seeler pay fot eh rating but at the same time they have the soecail interest payign for their campighns jsut like that.If congresss keeps only being interested in their reelection by putting on a fingerpoint exhaniotion instaed of fixing the probles and lketting the FBI and other look at the crimjes invilved we can look forward to similar things in the future ;easily. I say easily because =corruption will agianst go from the top to joe blow on the street goign along with lenders again to falsify information. There is alot of blame and criminality to go around it looks like.
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Old 10-23-2008, 12:19 PM
 
Location: Virginia
9,825 posts, read 7,488,152 times
Reputation: 5778
Our regulators, caught on film.


YouTube - Noob Burglar


YouTube - afro ninja
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Old 10-28-2008, 01:39 PM
 
Location: Virginia
9,825 posts, read 7,488,152 times
Reputation: 5778
BBC NEWS | Business | US bail-out cash buys rival bank

$US700bn bailout may be used for bonuses, dividends | Herald Sun

Liquidity..... my ass.

Man...makes me sort of feel like the grape stomp lady.


YouTube - Grape Stomp Fail
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Old 10-28-2008, 02:38 PM
 
Location: Backwoods of Maine
2,007 posts, read 2,455,962 times
Reputation: 2964
Quote:
Originally Posted by texdav View Post
Congress turned their heads from Fannjie Mac and Fannie Mae and are looking for cover themselves, They critize the regulators for not looking at the loan;but reguse to lok at all to fannie and Mac at all or have anyone the asthroity to;they say that you can have the seeler pay fot eh rating but at the same time they have the soecail interest payign for their campighns jsut like that.If congresss keeps only being interested in their reelection by putting on a fingerpoint exhaniotion instaed of fixing the probles and lketting the FBI and other look at the crimjes invilved we can look forward to similar things in the future ;easily.
ROTFLMAO!

That bum keyboard of yours, texdav, is getting more and more hilarious!
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Old 10-28-2008, 02:48 PM
 
Location: NW MT
1,436 posts, read 1,928,128 times
Reputation: 526
Quote:
Originally Posted by Nor'Eastah View Post
ROTFLMAO!

That bum keyboard of yours, texdav, is getting more and more hilarious!
I'll send you a new one texdav.... It's gettin bad dude...

As the keys are falling off and you are putting them back on, are you getting them back in their original location ????
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Old 10-28-2008, 04:50 PM
 
706 posts, read 772,527 times
Reputation: 426
Do we have regulators?
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