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Meanwhile, The Dungeon goes Nuclear

Discussion in 'The Dungeon' started by lizard84, Jan 4, 2013.

  1. panthercity

    panthercity Thread Killa

  2. RR558

    RR558 Well-Known Member

  3. ductune

    ductune Well-Known Member


    :D
     
  4. ringdingding

    ringdingding TWO-STROKE MILITIA

    Clinton signed the bill into law. It seems Clinton and Bush and some Republicans were in favor of more regulation or oversite of Fannie and Freddie that was opposed by Barney and Dodd. But while they had control of congress the Republicans never put it to a vote. Plenty of blame to go around.

    The wiki link and some of the other links from there are very informative.

    To me the Dems and Repubs are both part of the same two headed monster that is taking the country in a direction most dont want to go. They know how to get half of us looking one way while the other half is looking the other. Bluedogs on the left and Tea Party conservatives on the right are our only hope. Lets start voting them in, or we are doomed.

    BTW, the GLB act may have made things worse had it not been made law. According to the wikilink.
     
    Last edited: Jan 4, 2013
  5. beac83

    beac83 "My safeword is bananna"

    I don't know. I don't think that keeping Glass-Steigel (sp?) would have destroyed us. It would have slowed down our rate of growth in the 90's but then again, we would not have had the bank collapse and resulting depression we are still in, either.
     
  6. RoadRacerX

    RoadRacerX Jesus Freak

    <whistling> Right. It's always those nasty republicans. :rolleyes: And Barney is just a regular angel. He's right up there with Sandy Berger. :crackup:

    Since you're a wiki whiz, do a search for "Barney Frank" and "Housing crisis".

    Fannie and Freddie: As ranking member of the House Financial Services Committee, Frank blocked tightened oversight over Fannie Mae and Freddie Mac, saying in 2003, “These two entities … are not facing any kind of financial crisis,” and, “I want to roll the dice a little bit more in this situation towards subsidized housing.” More than any other factor, the 2008 financial meltdown was caused by pushing these government-sponsored enterprises to encourage housing loans to risky borrowers.

    And it wasn't just housing, but banking too. Believe what you will, but remember Dodd-Frank?
     
  7. Johnny B

    Johnny B Cone Rights Activist

    He can't have it. Vacancies used to be filled by the Governor but the Democrats changed the law to a special election because they didn't want Mitt Romney appointing anyone if John Kerry was elected President in 2004.
    Then they wanted to change it back when Ted Kennedy died and Deval Patrick was Governor. Didn't happen and Scott Brown got elected. Somehow Brown got beat by Princess Dances With Perjury, so this is a great opportunity for him to get back into the Senate.
    Fuck you, Barney. Stay retired and enjoy your golden years with your mate.
     
  8. RubberChicken

    RubberChicken PimpMasterT

    Is this the McRib Codicil to Godwin's Law?
     
  9. caferace

    caferace No.

    Godwin is a total hippie. Nuts & twigs guy. That would be a far reaching codicil.

    -jim
     
  10. ductune

    ductune Well-Known Member

    So your answer to my question is yes?
    :D
     
  11. ductune

    ductune Well-Known Member

    All kidding aside, up to the repeal of Glass Steagall banks would hold far more of the mortgages they wrote so there was more accountability as the bank assumed the risk. Repealing Glass Steagall changed that.

    Once Glass Steagall was repealed banks bundled risky loans with good ones and sold them as "A" grade investments freeing up funds for more loans.
    Mitigation of risk and fraud was a big factor in the meltdown. Once it came to light, credit wasn't available to finance cars, houses or much of anything so many people lost income that added to more foreclosures. There's enough blame to go around but in my opinion, fraud was the root cause.
     
  12. RoadRacerX

    RoadRacerX Jesus Freak

    Oh I don't hold Gramm blameless at all. I'd love to see the whole lot of them tarred and feathered and railed out of Washington. This country is screwed and our government needs a major cleanse.
     
  13. panthercity

    panthercity Thread Killa

    Yep.
     
  14. ductune

    ductune Well-Known Member

    :up:
     
  15. lizard84

    lizard84 My “fuck it” list is lengthy


    Your wrong, and right at the same time, the special election won't be held for 5 months after Kerry takes the position from what I've read, until then an someone will hold the seat via appointment. Kerry aid seems to have a better shot then Frank of snagging it.
     
  16. Johnny B

    Johnny B Cone Rights Activist

    They tried to pull this the last time, when Kennedy died. Dems insisted that somebody be appointed right away as they couldn't wait until the special election.
    Or it can be looked at this way, they insisted on an election at 2004, tried to reverse it when Kennedy died, now they want an interim appointment until the special election.
    Talk about flip flopping.......
     
  17. Marcmcm

    Marcmcm Huge Member

    Wait until Dodd-Frank actually gets implemented. We're just starting to see the effects in the real estate market. It should fully go into affect in 2014.
     
  18. Johnny B

    Johnny B Cone Rights Activist

    Last edited: Feb 4, 2013
  19. pickled egg

    pickled egg Tell me more

    That's not the worst of it. Mittling is supposedly being groomed for the job.

    Can't you Massholes find some decent representation to offer up? Sheesh.
     

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