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I missed this little comment in my first reading of this ridiculous diatribe:
Quote:
Originally Posted by hatemenot
It's not his fault that AIG used the money unlawfully. It's not his fault that the banks lied to their customers, either!
The bonuses that were paid by AIG to some of it's employees (called "retention bonuses"), were not "illegal". They were part of the contract with those employees.
Our government, Barak Obama, Chris Dodd, and everybody else knew about these bonuses at the time the so-called "stimulus" bill was passed and signed into law by Barak Obama. In fact, they made it a point to protect those bonuses with an amendment exempting them from the provisions of the bill.
This entire phony "outrage" was an attempt to cover up this fact and cover their rear ends when news of these bonuses hit the public's ears.
But, they were legal, part of a contract, and the government then turning around and passing a 90% tax on those bonuses is most probably unconstitutional, but at the very least, is certainly one of the most egregious and contemptuous acts of this administration thus far.
As to the second part of this comment by the OP (and I'm not exactly sure sure to what he is referring), Banks didn't lie! Banks were making loans (forced to make loans) that they would not otherwise have made, because of the Carter administration's CRA (Community Reinvestment Act), which the Clinton administration then expended, to create the largest housing assistance program in U.S. history! And that, coupled with the mismanagement of Fannie Mae, by Democrats, is what got us into the mess we are in.
As to the second part of this comment by the OP (and I'm not exactly sure sure to what he is referring), Banks didn't lie! Banks were making loans (forced to make loans) that they would not otherwise have made, because of the Carter administration's CRA (Community Reinvestment Act), which the Clinton administration then expended, to create the largest housing assistance program in U.S. history! And that, coupled with the mismanagement of Fannie Mae, by Democrats, is what got us into the mess we are in.
This is so ridiculous it is laughable...
There is blame on both sides of the aisle over the problems we are in - but I firmly believe the Dubya Republicans own the lion's share of the blame for turning a totally blind eye to regulation even when they were told that sub-prime would eventually explode with tragic consequences...
And no one forced banks to make no-income-check mortages, or to loan to as many bad risks as can be blamed on CRA.
No one forced Wall Street to run aboslutely wild with derivatives (CDS primarily)...
No one forced Wall Street to bundle mortgages into CDO's and infect the entire global banking system...
Except that you've been screaming anti-Obama crapola since waaaay before he was elected.
Exactly, I have. Many could see during the campaign this guy was all smoke and mirrors. Not fit to lead. Looks like those predictions are coming true. He administration is a joke.
We had the Bush administration joke, now we have the Obama administration joke. From one joke to the next, with just different punchlines.
Is there no end to these uneducated and immature criticisms? Leave the man alone! Why must you constantly barrage him with pointless insults and criticisms about his bad bowling, or his remarks on the Tonight Show? He has a nearly $1,000,000,000,000 debt to deal with, along with the worst recession since the great depression! The man is allowed to be a normal human being for one day of his life! He is a very young man, with a family to care and provide for, along with a country with nearly 400,000,000 people! Don't you think that it would be just a little hard to deal with that? Especially when immature people like those who have nothing better to do than sit at their computers and criticize their newly-elected president who is trying to fix an extremely unstable country? Give the guy some slack!
For Christ's sake, he's the first white-black biracial president, so he's got to deal with the segregationists, and the uneducated and rude people as well. Instead of just replying to those immature comments, he ignores them and continues on with his work, which is more than I can say for a lot or most of the people who insult him! If you don't like him, then deal with it, but don't go around making a commotion about it because all it's going to do is get the other side furious, and then hate and religion will come into play and things will get nasty.
So instead of posting so many topics about Obama's few mishaps, why don't you try to look for the many positive things he's done for our country? It's not his fault that AIG used the money unlawfully. It's not his fault that the banks lied to their customers, either!
Before you insult the President of the U.S., you need to do a little more research about what they've done before you go rambling off like some idiot on drugs, and start a pointless argument.
Just give the guy a break, and focus on keeping yourself, and your family in a good home, with food on the table.
I shall never lay off him. he is just like other liberal presidents, and republican presidents too.
a lying sack of doo. with the AWBII coming out, he is making more the USA more and more like nazi germany.
Anyone who thinks that our economic woes are the results of 60 days of this new administration clearly don't know what they are talking about..
We are seeing the end result now of 8 years of horrendous mismanagement of the economy and the nation...
The spending and bailouts of today are the logical conclusion of 8 years of disregard for consequences...
Would you prefer that we enter another Great Depression???
Did you not read what I wrote? The last decade or so sent us down this road but the last 60 days did a double down bet on that. I don't blame the whole mess on the last 60 days.
There is blame on both sides of the aisle over the problems we are in - but I firmly believe the Dubya Republicans own the lion's share of the blame for turning a totally blind eye to regulation even when they were told that sub-prime would eventually explode with tragic consequences...
Look. This has been exposed numerous times. The Republicans called for more regulation as far back as 2000. Bush called for more regulation and he himself warned there may be trouble ahead if something wasn't done.
But the Democrats, including Barney Frank (his name sure pops up a lot in these banking scandals) and all the others that have been mentioned, Chris Dodd, Chuck Schumer, Dick Durban, Maxine Waters and many more all castigated Republicans for daring to suggest that Fannie Mae was headed for a crash (the video has been posted here and all over the Internet, of at least one hearing that shows the Democrats defending Fannie Mae and Franklin Raines).
There simply is no evidence that you can cite to support your claim that Republicans "turned a blind eye". You're out on a limb on this one.
Quote:
Originally Posted by mrbob
And no one forced banks to make no-income-check mortgages, or to loan to as many bad risks as can be blamed on CRA.
You must not read anything. Have you read the CRA? Have you read anything about the CRA? Have you read about Clinton's expansion of the CRA?
You are just totally wrong here, and it's a ridiculous waste of time for you to argue against what everybody already knows to be true.
Quote:
Originally Posted by mrbob
No one forced Wall Street to run aboslutely wild with derivatives (CDS primarily)...
No one forced Wall Street to bundle mortgages into CDO's and infect the entire global banking system...
The banks, under the provisions of the CRA were bundling the mortgages, Fannie Mae and Freddie Mac were buying the bundled mortgages, and they in turn were selling them as Mortgage Backed Securities.
"Wall Street" is simply the place were all this action (exchange) takes place, and those who work on "Wall Street" are simply the people who do the work of facilitating these transactions for their clients. They are not the villains here.
The villains are Franklin Raines, Barney Frank, Chris Dodd, Chuck Schumer, et al (and Barack Obama too) who were reaping in thousands and lining there pockets with the money from selling these risky loans.
These people ought to be jailed for their part in this, but what are they doing? They are going after private citizens and confiscating their legally derived income, received under the terms of their employment (whether you like it or not).
I would argue that this action by Congress is criminal (it is certainly unconstitutional).
The real outrage here ought to be directed at this Congress, which is totally out of control, and our inept President, who is doing nothing to improve the situation we are in, but everything to make it worse (like FDR).
Is there no end to these uneducated and immature criticisms? Leave the man alone! Why must you constantly barrage him with pointless insults and criticisms about his bad bowling, or his remarks on the Tonight Show? He has a nearly $1,000,000,000,000 debt to deal with, along with the worst recession since the great depression! The man is allowed to be a normal human being for one day of his life! He is a very young man, with a family to care and provide for, along with a country with nearly 400,000,000 people! Don't you think that it would be just a little hard to deal with that? Especially when immature people like those who have nothing better to do than sit at their computers and criticize their newly-elected president who is trying to fix an extremely unstable country? Give the guy some slack!
For Christ's sake, he's the first white-black biracial president, so he's got to deal with the segregationists, and the uneducated and rude people as well. Instead of just replying to those immature comments, he ignores them and continues on with his work, which is more than I can say for a lot or most of the people who insult him! If you don't like him, then deal with it, but don't go around making a commotion about it because all it's going to do is get the other side furious, and then hate and religion will come into play and things will get nasty.
So instead of posting so many topics about Obama's few mishaps, why don't you try to look for the many positive things he's done for our country? It's not his fault that AIG used the money unlawfully. It's not his fault that the banks lied to their customers, either!
Before you insult the President of the U.S., you need to do a little more research about what they've done before you go rambling off like some idiot on drugs, and start a pointless argument.
Just give the guy a break, and focus on keeping yourself, and your family in a good home, with food on the table.
Great post...rep points for you.
I don't understand the senseless bashing of our President either. He has inherited the worst financial crisis since the great depression. He has Iraq to deal with, along with a host of other issues, including rebuilding America's relationship with the rest of the world.
Those who bash Obama (who has barely been in power for just over 2 months) will use the excuse that Bush's opponents bashed Bush, but that's no excuse for wanting the President to FAIL, just to prove a political point. I personally didn't like Bush and was a big critic of many of his decisions, but I did not WANT him to fail, for the sake of the country.
Even if Obama makes good/sound decisions, these people will still not be happy until he is out of office. Even if the economy improves, they will still nitpick at every little thing and twist every word he utters, just like the McCain/Palin campaign did prior to the election.
Is there no end to these uneducated and immature criticisms? Leave the man alone! Why must you constantly barrage him with pointless insults and criticisms about his bad bowling, or his remarks on the Tonight Show? He has a nearly $1,000,000,000,000 debt to deal with, along with the worst recession since the great depression! The man is allowed to be a normal human being for one day of his life! He is a very young man, with a family to care and provide for, along with a country with nearly 400,000,000 people! Don't you think that it would be just a little hard to deal with that? Especially when immature people like those who have nothing better to do than sit at their computers and criticize their newly-elected president who is trying to fix an extremely unstable country? Give the guy some slack!
For Christ's sake, he's the first white-black biracial president, so he's got to deal with the segregationists, and the uneducated and rude people as well. Instead of just replying to those immature comments, he ignores them and continues on with his work, which is more than I can say for a lot or most of the people who insult him! If you don't like him, then deal with it, but don't go around making a commotion about it because all it's going to do is get the other side furious, and then hate and religion will come into play and things will get nasty.
So instead of posting so many topics about Obama's few mishaps, why don't you try to look for the many positive things he's done for our country? It's not his fault that AIG used the money unlawfully. It's not his fault that the banks lied to their customers, either!
Before you insult the President of the U.S., you need to do a little more research about what they've done before you go rambling off like some idiot on drugs, and start a pointless argument.
Just give the guy a break, and focus on keeping yourself, and your family in a good home, with food on the table.
Yeah he has all that to deal with but its going to have to wait because this weekend hes on his 3rd vacation
I don't understand the senseless bashing of our President either. He has inherited the worst financial crisis since the great depression. He has Iraq to deal with, along with a host of other issues, including rebuilding America's relationship with the rest of the world.
Those who bash Obama (who has barely been in power for just over 2 months) will use the excuse that Bush's opponents bashed Bush, but that's no excuse for wanting the President to FAIL, just to prove a political point. I personally didn't like Bush and was a big critic of many of his decisions, but I did not WANT him to fail, for the sake of the country.
Even if Obama makes good/sound decisions, these people will still not be happy until he is out of office. Even if the economy improves, they will still nitpick at every little thing and twist every word he utters, just like the McCain/Palin campaign did prior to the election.
It gets old, fast.
You even say IF! So when he starts maybe people will back off, I guess we'll have to wait and see when he starts making good/sound decisions won't we?
As for failing?
I hope his policies fail because so far they're crap.
Actually, yes. She indicated she was 14 in another thread. That put her in first grade when Bush was elected.
Why is she on this board then? Isn't there an min age?
That explains the naive, inane, incorrect facts and assumptions. Who would want to waste their time with someone like that?
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