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We don't have to manufacture it - reality rears it's ugly head constantly. For example, that conspiracy you refer to made sure that private banks took over a lot of student loans and were able to charge higher rates and "bet on" risky folks...to either indebt them or have the taxpayer on the hook.
You deflected and dodged the issue in typical Liberal fashion.
People all over the US can get free education through Pell Grants and State educational grants.
Cincinnati State is $158/credit hour. $3,792 for one year. Everyone in poverty automatically qualifies for a combined Pell Grant/Ohio Educational Opportunity Grant of $6,095/year.
Do the math:
$6,095
$3,792 less
--------
$2,303 profit per year
How stupid would someone have to be to bury themselves with student loans when they can profit $2,303 per year?
Quote:
Originally Posted by craigiri
That conspiracy helped greatly to cause the Great Recession,...
There was no conspiracy. You can take off your tin-foil hat anytime you want, but obviously you don't want to do that.
If there was a conspiracy, it was here:
Originally Posted by White House Press Briefing, Office of the Press Secretary (Dec. 8, 1993)
MR. RUBIN: Hi. I'm Bob Rubin, the Assistant to the President for Economic Policy, and I'm going to introduce today's topic.
The President, as you know, has a broad, comprehensive strategy for dealing with the economic problems of the country for putting the country back on the right track for the long-term. A lot of the legislative and executive actions that have taken place in 1993 have been pursuant to that long-term economic strategy of the President's.
An important component of that strategy is to deal with the problems of the inner city and distressed rural communities -- pursuant to his belief that we must make real progress in those areas if this country is going to be successful in the future for all of us. The reform of the Community Reinvestment Act is an essential building block in the efforts I've just mentioned. In July the President asked the four banking regulators to reform CRA, to reduce paperwork in process and reward performance, and to get that done by January 1, 1994
SECRETARY BENTSEN: In a nutshell, what we're proposing to do is to make it easier for lenders to show how they're complying with the Community Reinvestment Act. For those who aren't familiar with the area of banking law, the changes we're proposing are important because banks now have a very clear, quantitative standard by which their compliance can be judged.
MR. LUDWIG: Ken, you know that it's hard to give a hard and fast rule, particularly on a system where we want to be flexible, we don't want to have credit allocation or quotas.
At the same time, the CRA, for all its flaws, since 1977 it is generally agreed has increased lending in low and moderate income areas by tens of billions of dollars. We're all convinced that this is a material step forward. So it's very safe to say billions of dollars.
The entire CRA reform is very much built on rebuttable presumptions, so that you don't have odd anomalous cases which we found around the country, where a bank had done a good job but somehow got rated poorly, or vice versa.
Q Will you be gathering information just on loans, or on applications, as well, for small business?
MR. LUDWIG: We will be gathering data as proposed on the basis of applications, denials and actual loans.
Q Does this mean that if I am a banker with branches in the inner city, I no longer have to have an employee keeping pins on the map of town to show where the loans are, that it's now going to be judged on dollars and cents and how much money goes where?
MR. LUDWIG: Dollars and cents, and we'll keep the pins. The data will be publicly available and the banker will not have to have a crazy map with pins all over it, which has just characterized this whole process, and spending huge amounts of time documenting every time it meets with a community group and being judged on how many documents it has. It will be judged on where the loans are.
[Emphasis Mine -- and that's just one part of one press conference -- I can play this game all the live long day.]
Anyway, it would seem they lightened the paper-work burden just a wee bit too much.
Collaterialized debt obligations and structured investment vehicles were created in response to Clinton's demand to issue more mortgages or be financially penalized and suffer legal action and scrutiny at the federal and State level, and also in the Media.
Why would you assign blame to a political party?? When it's all about people who fail at personal finances and a lack of family planning. What about the black community and their problems with teen pregnancies and producing single mothers??? Or a whole bunch of Americans who want to live large and style themselves like their favorite celebrity, even though they can't afford to? How is wanting to be like the Khardasians, the fault of the GOP party?
Every now and then I think these discussions are progressing, maybe better separating the truth from the nonsense, getting somewhere...
Then I read comments that are simple repetition of notions going back to the very beginning, entirely unchanged, no sign of reflection whatsoever, and back to square one we must go.
Not that pointing out this dynamic is any more productive, but is there any fool who somehow thinks simple repetition of the same thing over and over changes anyone's mind? Seems a lot more productive in any case to point out how unproductive simple repetition tends to be, and why.
You deflected and dodged the issue in typical Liberal fashion.
There was no conspiracy. You can take off your tin-foil hat anytime you want, but obviously you don't want to do that.
If there was a conspiracy, it was here:
The actual statistics, cuts, actual budget cuts....seem to not matter to you. To the numbers your response is "but but but but...anyone can get them". No, when they are cut, FEWER people get them. That's what "cut" means!
It's also truly amazing that when a Great Recessions happens 7 years into GOP POTUS control (and much longer when the Newt Revolution and all is figured in) that it is Bill Clintons fault!
There is honestly no answer to that which would make sense so I give up. Bill also came back and gave the tax cuts which helped create the excess debt...and must have spent the trillions on wars which were unfunded...and must have helped GWB make sure health care went up double digits while he did NOTHING to fix those things.
It's easy. You start with your conclusions and then find something to back them up. Clinton must have been whispering into the Ears of the Bush Klan as they told us all that Wall Street was capable of policing itself....
In fact, I wouldn't be surprised if Clinton made it so Bush gave those joy rides to special people on nuclear submarines that ended up killing many innocents! It just could not be that perhaps these administrations were wrong in their thinking that Industry and Banking is best off when they call the tunes.....themselves.
Clinton probably also made the BLM and the Oil companies have sex and do cocaine together as they celebrated all the deregulation that made them all wealthier!
In 50 years the GOP and Right Wing will still be telling us Bill Clinton did it all. Just as they are erasing Jefferson from History Books in Tx because of some inconvenient truths.......
But I think actual real history will record things differently. Republicans tend to appeal to the fear and greed of the populace and that never ends well.
even if you handed a monthly stipend to many people in an effort to achieve wealth equality, the same people would be unable to pay their bills.
Imagine how bad those people were under obama and how much worse they would have been under Hillary.
So many on welfare and food stamps under obama. trump reduced the welfare state with jobs and the exploding economy.
Yes, this is what the bleeding heart community doesn’t understand. Most of the people we are discussing here are struggling because they are irresponsible, make poor choices and lack the skills to manage money. No amount of giving will help them. Some of them will grow out of it in time, but most will not.
It's too much work for the lazy to take advantage of. They'd rather complain.
Are you perhaps suggesting comments like this one and most your others are anything but "lazy?" Maybe you think all these alt-right quickies are monuments to intelligent rationale, reason and logic? Loaded with facts, figures and information rather than mere broken-record here say? Do think again. Please.
I would put much of the problems the black communities face on policies that have actively targeted their young black males.
Since the 70-80s, young black men have been incarcerated more often then white men, for the same crimes, getting longer sentences then white men for the same crimes and criminalizing drugs that poor people use harder, then what wealthier people abuse.
It has created 2-3 generations of young black men with ruined financial, work and educational opportunities, compared to young white men that never saw the inside of a cell.. even though they committed the same crime.
This again produces broken families, missing fathers, lower opportunities for getting better jobs, voting, schooling etc etc..
Redlining, where black minority parts of towns that did not recive public money to keep things running or fixing roads, water, lower quality schools etc etc etc...
The GOP loves to paint the black community as a God loving, family centered minority that where completely destroyed by the Democrats welfare. The GOP is claiming suddenly every black family realized they could finally just be lazy, sleep around and live of the hard working white man by giving birth to more and more kids for more money... Sounds Racist!
Without mentioning how the black community was heavily targeted by unfavorable policies that hit the black minorities far harder and affected them more then any white community.
Better, but still the best understanding of why so many people struggle with poverty can only come from truly understanding root cause, and much like you explain with respect to these statistics related to young black men, it is racist not to understand the true causes. Racist not to try anyway. Lazy. That or ignorant. Typically all the above...
even if you handed a monthly stipend to many people in an effort to achieve wealth equality, the same people would be unable to pay their bills.
Imagine how bad those people were under obama and how much worse they would have been under Hillary.
So many on welfare and food stamps under obama. trump reduced the welfare state with jobs and the exploding economy.
Please! The effort is not to "achieve wealth equality!"
Pretty hard to take any of these notions seriously when even the fundamentals are so badly misunderstood. Then again, that lack of understanding is the only way to understand how notions like this come to be...
Every now and then I think these discussions are progressing, maybe better separating the truth from the nonsense, getting somewhere...
Then I read comments that are simple repetition of notions going back to the very beginning, entirely unchanged, no sign of reflection whatsoever, and back to square one we must go.
Not that pointing out this dynamic is any more productive, but is there any fool who somehow thinks simple repetition of the same thing over and over changes anyone's mind? Seems a lot more productive in any case to point out how unproductive simple repetition tends to be, and why.
Well... I know a whole lot of black people who thought that Obama becoming president was going to improve their lives. And eight years of Obama didn't do any of that.
Capitalism works until all of the wealth is transferred to the very top. At that point, the bottom 99% have nothing to spend, and the whole house of cards collapses. Then you get guys like Hitler, Mussolini, and Stalin.
History is repeating itself.
Exactly. Our economic model is shaping our political model.
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