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1) Originally Posted by saganista
"The stimulus is intended to create a bridge over the worst of this crisis. It tempers the effects upon those hardest hit, it preserves jobs that would otherwise have been lost, and it creates investments in infrastructure and technologies that will breed and support jobs in the future."
to wit you responded with:
Just how does handing over Trillions to Goldman Sachs do any of that? The short answer ... it doesn't. Another load of mumbo jumbo. You really should stop listening to Bernake and Geithner interviews ... haven't you heard the news? They're crooks, and BS artists.
I'm coming to realize the utter futility of communicating in writing with people who can not read.
How many times are you going to try to hide behind this Edward Pinto fellow as if he were author of stone tablets to be brought down from mountains?
(I eliminated a lot of partisan, rambling, drivel after that.)
You cannot disprove the statistics Pinto cites, so you attack the messenger, instead. Pretty much everyone can see right through that.
Furthermore, did the CRA require banks to give loans to low-income and high-risk individuals? The answer, of course, is yes. A requirement of 1 or more is a quota.
More junk. Countrywide was one of the largest mortgage originators and marketers at all levels. The GSE's bought tons of their top paper from them.
Top paper? No.
AGAIN... "Some of the problems are surfacing in a mortgage program called "Fast and Easy," in which borrowers were asked to provide little or no documentation of their finances, according to these people and to former Countrywide employees. Both Countrywide and Fannie Mae, the government-sponsored company that bought many of the loans, classify the loans as "prime," meaning low-risk."
(Those would be the infamous 'no doc' liar loans.) "...A Fannie spokesman agreed that the verification of employment wasn't required on all loans, but added that Countrywide was expected to verify employment details on a "sampling" of loans. The Countrywide spokesman said his company fulfilled that obligation." Countrywide Loss Focuses Attention on Underwriting - WSJ.com (may require subscription)
I agree lets cut the deficit and I say we slash spending on the military in half. Why are we in hundreds of nations anyways with bases? and tens of thousands of troops?
There are cities and towns in America that practically wouldn't exist without a military presence and they are usually in "RED" states!
I guess nobody recognized Dubya's massive spending either and all done under the guise of "terrorism".
Thank you for the Rasmussen poll which is a right wing outfit from Conservative Nebraska.
Sanrene we are tired of the right wing's "arm chair" politics which borders on emotion with a bit of absolute hysteria.
I guess we should take our cues from Rush, Hannity and every other right wing political pundit since they know what is best for America besides their multi million dollar paychecks!
Totally agree That pesky thing called Military Spending with tentacles of an octopus that suck up a lot of tax payer money is NEVER an issue or discussed by those on the right.
Sorry pal. No cigar for you. You need to stop listening to whoever is telling you this BS and get with the real program.
Just a couple of finer points since the bulk of your lengthy post is incoherent blather and ramble.
First, data (including manufacturing numbers) for national economies are compiled under the same global set of assumptions, rules, and definitions as are global GDP statistics. You could go read about those by tracking down something called the System of National Accounts as most recently promulgated by the UN et al. in 1993. Suffice it to say that all production is associated with the economy within whose borders it occurs without regard to the nationality of those who might own the means of production. Manufacturing done by Walmart in China belongs to China. Manufacturing done by Toyota in the US belongs to the US. Got it?
Second, there is still no reason ever to pay off the public debt, and in fact it never will be paid off. If you can't visualize the public debt as being anything different from the debt you run up on your personal credit card, you seriously need to go take some on-line public finance course or other.
Third, in the company of rather many others hereabouts, you need to master the difference between TARP and ARRA. These are two separate and distinct authorities with different terms, different purposes...pretty much diifferent everything. Ford, meanwhile, did not take any money from either one. They have accessed TALF (another thing, I suspect, that you don't understand) and they have loans out through DOE's fuel-efficiency financing facility, but they took nothing under TARP and have benefitted from ARRA only in the sense that the improved economic conditions fostered by that legislation have benefitted the economy as a whole.
That's about the best I think I can do for you at this point. They'll be done unwinding Citibank before I could straighten out the rest of the scrambled mess you made here.
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That pesky thing called Military Spending with tentacles of an octopus that suck up a lot of tax payer money is NEVER an issue or discussed by those on the right.
