*Forget college basketball; the real March Madness is taking place down in Washington. (BTW, I love your picks O man) Poor republicans, they are acting downright apocalyptic these days. If you hear them tell it, A-merry-ca, as we know it, will be over in a few days. Come Sunday night, Socialism will have taken over A-merry-ca, and darkness will fall over our republic. Why? Well it's all because of that beige man with the African daddy and the mother from Kansas. He decided to upset the apple cart.
It's so bad that Michelle Bachmann, an elected Representative from the land of the great lakes(I think all that cold up there might have chilled the brains of some of the voters in the land of Prince), is calling for the impeachment of Nancy Pelosi. Glenn Beck is calling this the most traumatic event in A-merry-ca since the civil war, and he has all but told his O ness to watch his back. I just watched Mitch McConnell, John Boehner, (real nice guy that John Boehner) and a bunch of angry white men declare war on this health care bill, and you could just tell from the looks on their faces that if this thing passes they will all have to be put on suicide watch. Over at Radio Rwanda they are taking calls from republican operatives live on the air and telling their viewers that the bill could still die. The wingnut web sites are beside themselves with rage. They are accusing the dumbocrats of lying and cheating to get their way. Oh what a difference a few years make.
Still, the votes are going to be close. I am hearing that this bill might pass by just one vote. Imagine that? One vote! I am still seeing images of all those people in Grant Park and I am hearing those chants of "Yes We Can" in my ears, and I can't believe that if his O ness passes his signature legislation- one that he has damn near staked his entire presidency on- it will only pass by one stinking vote.
I see Dennis Kucininich switched. Good for him. ( Now there is a guy who married up. Literally.) Hey, I am not crazy about this watered down version of a bill, either. But hell, I guess it's better than nothing. In a way, I might have switched my thinking as well. I didn't know how much passing this bad boy meant to his O ness. He canceled his trip to Australia and Indonesia, he went on Radio Rwanda, and he has been literally begging fence sitters for votes. Damn it O man, all you had to do was ask. I would have gotten your back a lot sooner.
I want to know what the wingnuts will do if the bill does pass. They have been threatening all kinds of shit. It should be interesting. Will they storm the people's house and pull the beige man and his family out? Will there be rioting and looting in the streets? Will the teabaggers have a sit down in the middle of Washington D.C and shut down the city? Man they have a lot of options. And, they might have to use them. I see the CBO report just came out and it should give some of those cowardly dumbocratic politicians some cover. As a result, look for a couple of more yes votes flipping for his O ness.
Hang on folks, this should be more fun than a buzzer beater.
*Pic courtesy of Ehow.com
258 comments:
«Oldest ‹Older 201 – 258 of 258HOBAMA's entire wall st staff is listed here!
http://www.wsws.org/articles/2009/apr2009/pers-a06.shtml
hobama dogged out gwb to win votes and then hired EVERY gwb crony to run the second blackish act of this show!!!
assnons have nothing to contribute to any convo...so they paste the same tired bs as commercial/comic relief!
i hate boob tube loving noron assnon boobs!!!
Tersi: $600 trillion dollars.
Are you retarded, because I don't want hurt your feelings if you are just a retard, but there aint $600 trillion dollars worth of anything, this side of the moon anyway. That's a typo, obviously, the author meant $600 billion.
BTW, do have change for a trillion dollar bill?
maria:
NO one...not even the politicos who have read this bill defends it...not even dennis k!!!
that is why i know u r asleep
wake up and read it too!
I WILL NEVER GET ANY INSURANCE THAT IS NOT EMPLOYEE GROUP INSURANCE...AS SOON AS OBAMA CARE PASSES ALL EMPLOYER GROUP INSURANCE WILL BE DEADER THAN THAT DEAD YELLOW COPPERHEAD FISH mr!!!!!
They have health plans on the individual market now that are priced cheaper than what you'd pay with an employer! This was the case time and time again especially when my husband contracted for small to medium sized businesses. They were getting screwed on their insurance! We had to pay $400 a month in ADDITION to what the employer paid on the plan and it was Kaiser. Freakin Kaiser!
Since my husband works for a large non profit insurance company now, his benefits are slightly more than half the monthly cost as they were before! We would have been better off using a private plan than paying for Kaiser back then, we'd have gotten the same coverages and more flexibility in choosing our providers.
Here is a good site for private health insurance.
maria:
are you serous?
there is NO such thing as individual insurance for anyone who is diabetic!
r u distracted 2day???
did u miss rippa's posts too??
are u awake?
LACoincidental said: "Frankly, Obama and Pelosi can barely drag along the Blue Dogs kicking and screaming to vote for this bill. And despite what it looks like on the board, there are far more moderate-conservative folks in the country than flaming Lefties."
This is a totally bogus claim. Single payer had a lot more support than the public option and the public option had more support than the current bill that lacks one. The people you call "flaming lefties" are actually the MAJORITY in this country based on polling of this subject. The real reason their elected representatives are against it is because they are taking millions of dollars in bribes from the insurance companies to vote against it. Get the facts straight please!
maria:
i am lucky
very lucky and very blessed...
but obamacare will change ALL our lives and make them unluckier and less blessed than ever...and THAT is why i hate hobama!!!
Ernesto: ""flaming lefties" are actually the MAJORITY in this country based on polling of this subject."
Bullshit. This legislation has consistently polled under 50%. When you ask about the major specific provsions of this bill, it is typically more like 70% against.
@anon__"Capatalism does not force banks to loan to people they kow can't afford the loan - government does (helped along with short sighted greed). Capitalism does not bail out gamblers who deserve to fail - government does.
Capatilism is not the problem. When the goose has been cooked, don't be looking for any more golden eggs."
You're missing so much information here that I doubt whether a limited response, such as this will be, will fill in the blanks for you.
Subprime loans that resulted in foreclosures are a small part of the problem.
Predatory lenders went after the subprime market with such a rapacious zeal that it would have made Genghis Kahn proud.
The real problem was all those side bets, those unregulated Credit Default Swaps, the insurance that was taken out by investors, but which existed without sufficient capital reserve to back up a default, but made these mortgages more palatable to investors around the world, many of which were bankers.
When the real estate bubble burst, that resulted because people couldn't pay their mortgages, because of interest rate increases (the result of dubious mortgage loan schemes), investors who held these investments instruments (mortgages bundled and sold in packages) demanded payment from those insurers who backed their investments.
Guess what? Bankers didn't have the moeny; they didn't shore up that insurance with reserve capital; instead, they reinvested it, and paid it to themselves as bonuses.
It was financial nightmare waiting to happen.
But what happens if you're "too big to fail"? Either the government bails you out (by buying up all your toxic assets), are allow you to fold, as you take the economy of the entire country with you.
The government chose the former option, bit the financial bullet, and forestalled a depression with what has been called a bail-out of Wall Street.
So, you see, my anonymous friend, unchecked, and unregulated capitalism is the culprit, as are lobbyists (from the financial sector) who pushed politicians--by paying them handsomely--for new regulations, or the repeal of certain regulations that stood in the way of their fleecing of America.
"The real problem was all those side bets, those unregulated Credit Default Swaps, the insurance that was taken out by investors, but which existed without sufficient capital reserve to back up a default, but made these mortgages more palatable to investors around the world, many of which were bankers"
No, these side bets never would have occured had not an enormous reservoir of toxic debt been created - actually mandated - by the Community Reinvestment Ac.
Good intentions paving the road to hell in the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings.
Meanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackaging and securitizing them for resale on the open market.
That's how the contagion began.
With those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.
Yes AIG cleverly was able to repackage shit as shinola, but the CRA made the shit in the first place, and Freddie and Fannie sold it to AIG. Don't tell me about it - I worked for the insurance side of AIG. I lost my job and half my retirement savings. I know exactly what happended.
"If Congress does not act,American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole."
John McCain, 2005
"These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."
Barney Frank, then ranking Democrat on the Financial Services Committee.
Tersi you said it;
So, you see, my anonymous friend, unchecked, and unregulated capitalism is the culprit, as are lobbyists (from the financial sector) who pushed politicians--by paying them handsomely--for new regulations, or the repeal of certain regulations that stood in the way of their fleecing of America."
For those who want to believe that the subprime crisis and the resulting foreclosures were created by people who had bad credit and the mortgage writers simply went out of their way to do them a favor are dead wrong.
In fact evidence has come out to show that the bankers mortgage companies et al gouged folks who actually had good credit. And it was also discovered that many actually targeted blacks and other folks of color who had "good credit" who qualified for more stable rates but were denied or lied to.
If you don't believe me do an internet search on the Dept of Justice and AIG and its subsidiaries which got busted and are being charged by the Dept of Justice.
Anon said:
No, these side bets never would have occured had not an enormous reservoir of toxic debt been created - actually mandated - by the Community Reinvestment Ac.
Good intentions paving the road to hell in the name of diversity, banks began making huge numbers of loans that they previously would not have. They opened branches in poor areas to lift their CRA ratings."
Can we be honest for a second? The government as is your contention opened the door for some of these bad loans according to you.
But does that mean that these companies actually had to rip folks off with them.
My point is that the gov't did not make them steal!!
Anonymous said...
"Tersi: $600 trillion dollars.
"Are you retarded, because I don't want hurt your feelings if you are just a retard, but there aint $600 trillion dollars worth of anything, this side of the moon anyway. That's a typo, obviously, the author meant $600 billion.
"BTW, do have change for a trillion dollar bill?"
When people lead with name calling and insults, and a fair amount ignorance, I know I shouldn't respond. But I'll make an exception in your case: You just don't know any better.
You're right. The $600 trillion doesn't represent actual, tangible assets. If it did, we wouldn't be in mess we're in today.
It's the value of the shadow banking system which is largely made up of derivatives. Here's a pretty good definition of "derivatives."
"Securities that derive their value from other financial instruments that are used by the insurance company to hedge its bets on which direction the market is moving. For example, cattle futures are a simple derivative in that the cattle futures contract increases or decreases in value as future prices change for cows on the hoof. When insurance companies use derivatives, they are more likely to use them in association with currency and interest rate transactions as a means of protecting themselves against adverse moves in interest rates or foreign currency exchanges. This instrument provides a mechanism for hedging against the interest rate risks that are inherent within insurance products by pricing in that risk in advance and protecting against future negative occurrences."
I can change that bill, if you'll accept my counterfeit ones.
Extraneous Mell: Tiresome partisan talking points cannot contribute to the discussion in a meaningful way.
Yes there were banks that took advantage of people, and in the end, the people hurt most were the people who got toans they shouldn't have. But the root of this was the CRA forcing banks to loosen their underwriting standards, and the results were predictable.
Can we all just get along?? It's the WEEEEEKEND BAAAABY!!!!
See you fools Monday!
Hey Field you opened the door to a great conversation.
-Yes its still my contention that we should have Universal Health Care.
- Yes I have heard all the detractors. But it really has worked for the rest of the developed world, why can't we learn from whatever mistakes were made in other countries, improve upon it and then implement it.
-All the opposition is basically subterfuge. The folks running things,(ruling class) know that eventually people would begin to look behind the curtain so they have gotten out in front, by redefining terms, rewriting history.What, I didn't know that the founding fathers were inclusive. I mean didn't they leave out non property owners, most farmers, poor white males, women and not to mention those non persons- well three-fifths to be exact.
- The health insurance industry knows that this legislation is ultimately going to benefit them. They funded these sham protests to mislead people. They benefit from all kinds of gov't handouts, yet they are pretending to side with folks who are against big government. Yeah right.
The capitalists got out in front of those who would change things by confusing terms and ideas. The health care proposal is no where near any kind of socialism. And though the gov't has been running amuck for quite awhile we are nowhere near Fascism.
But knowing how lazy they have made Americans by not teaching critical thinking they have bastardized terms that folks could learn the true meaning to by looking them up.
But they trusted that they could get folks all worked up by their greed, their provincialism and yes their prejudices (some racism). They succeeded in getting folks to look the other way while they continue to rip off the North American people while waving the flag.
I have to give it to them this was smooth.
And speaking of smooth did anybody read David Brooks in the NY Times today. BTW he repeated some of the same smooth but yet twisted slogans we have seen on this blog lately.
For those who understand the real problems that capitalism has wrought will find this revisionism and purposeful mischaracterization a bit entertaining. Its like watching a the execution of a good misdirection play in football.
Tersi; There are no $600 trillion banking systems, shadow or otherwise. The global GDP for 2009 was $57.53 trillion dollars.
In 2000, the UN estimated the total wealth of the world at $125 trillion. So how could there be five times in some shadow banking system? Come on, man. An fire can too melt steel.
@anon__"No, these side bets never would have occured had not an enormous reservoir of toxic debt been created - actually mandated - by the Community Reinvestment Ac."
For someone who claim to have worked in the industry, you have missed the mark completely. The side bets weren't mandated by the CRA.
The side bets were created so that the subprime loans, a big gamble to say the least, would be enticing to investors who knew the risk of these investment instruments.
Had these mortgage investment instruments been secured with actual money--a capital reserve--rather than used to enrich those bankers who issued them, the government wouldn't have had to step up in a big way to bail them out, when the investments failed.
The American people have been fleeced again and again, with and without the help of the government, and that fleecing continues with banks receiving from the Feds zero percent interest money for the purpose of lending, which they decided to invest.
Mell: "For those who understand the real problems that capitalism has wrought will find this revisionism and purposeful mischaracterization a bit entertaining. Its like watching a the execution of a good misdirection play in football."
You are confused. It's Obama that's fooling you, and that's BASKETBALL on TV.
Anon said:
"Extraneous Mell: Tiresome partisan talking points cannot contribute to the discussion in a meaningful way."
Actually you confuse me with someone else.I am not a partisan of Democratic politics and of course Republican for that matter.
I was just looking at this from the perspective of someone who knows what happened and actually "cares" about the folks who got ripped off.
I do some work with an anti-foreclousure group that's workig to get the state we're in to help folks who are still holding on to their homes, but were caught in the sub prime mess. We are also trying to help others as well.
If being opposed to folks being ripped off makes me partisan, then call me partisan.
Rottnkid said...
Can we all just get along?? It's the WEEEEEKEND BAAAABY!!!!
Have fun Rotten. Somebody should.
TERSI: " The side bets weren't mandated by the CRA.
The side bets were created so that the subprime loans, a big gamble to say the least, would be enticing to investors who knew the risk of these investment instruments."
That's EXACTLY what I said. There would have been no need for side bets if not for the subprime loan mess! OK?
Anon said:
"You are confused. It's Obama that's fooling you, and that's BASKETBALL on TV."
Anon you must be late to this blog. Confused I am not. I am however willing to respectfully disagree with you. If its allowed (lol)
Its well known that I don't support Obama now nor did I when he ran which made me quite unpopular with a few of my middle class professional black brothers and sisters on this blog and some others as well. But they are a little more forgiving now that the smoke has cleared.
Are you watching the tourney? Were their any upsets today?
The shadow banking system is over 600 trillion dollars strong. You heard me: 600 trillion U.S. dollars strong.
"Wall Street (and too big to fail) is a bigger threat to our national economic security than Al Queda, or run-away government spending.
But lobbyists are working hard on behalf of Wall Street to discourage regulatory reform of financial markets, and maintain the status quo."
Tersi, why bother? Does the word "blinders" mean anything to you?
La~Coincidental, I co sign with M. Rogmaiden, way to walk the walk. Don't worry bout the haters.
fn:
seen this?
i told u so!...ellie was just another obama nazi hoax!
http://www.cleveland.com/open/index.ssf/2010/01/im_ellie"
AB, I will check out the link now. Man you hate his O ness. What is that all about? Is that a Chi thing?
Haupi, I will check out your blog. Thanks for following. I will link you as well.
"Why would that be? Because taking even a quick look at the CBO's numbers reveals, as anyone with sense could realize, that adding a trillion dollars in expenses cannot reduce the deficit.
These peopel are lying to us, and we are lambs to the Slaughter."
How much did the Iraq war cost us again? I forgot, can someone help me with that one?
[quote] We can't live any longer with one health care insurance CEOs making
$127 million off their company's stock options--money made on the backs of the
poor & the uninsured, etc., by jacking up premiums and denying coverage to the
most needy & vulnerable.
[/quote]
Anon The 10th:
Can I ask you a question?
WHICH FORCE threatens to insure that YOU WON'T HAVE ANY DAMNED HEALTH CARE TO SPEAK OF in 40 years?
The Health Care CEO that you say is making $127M per year
OR
Your Government Health Care Insurance Provider who last year lost $1,400 in ONE YEAR and is heading toward another deficit of $1,500 in this fiscal year?
I seriously question some of you all's SANITY.
The antics of Filled Negro had me to come up with the term "Self Chumming". For you Anon #10 - it appears that your type of chum is placed on the end of a pole that has in electric prod. You can get fellow progressive fundamentalists to get ANGRY over STOCK OPTIONS yet be totally OBLIVIOUS to the $10,000 billion NEW DEBT that will be racked up in next 10 years.
I HAVE TO GIVE IT TO SOME OF YOU ALL. You are so COMPARTMENTALIZED and DESPERATE that you buy into the claim that this ONE COMPARTMENT (health care reform) is going to save $1T in DEFICIT.
This affords you to look past the OTHER COMPARTMENT which says that the FEDERAL CONCLOMERATE is going to run up $10,000 B in debt.
Anon - WHO DO I CALL TO REPORT THIS ONE?
Mellaenous you are a miserable fellow.
Let me ask you - as you sink your teeth into the CAPITALIST BANKERS on wall street that forced the Feds to run up DEBT per the stimulus - WHERE EXCATLY do you position the other type of CAPITALISTS?
The SOCIAL JUSTICE CAPITALISTS?
You see Mellaneous - we live inside the protective walls of the BELLY OF THE BEAST. Unlike what is the case in Guagemala - if we want to build up a STANDARD OF LIVING that is beyond our ORGANIC PRODUCTIVE CAPACITY we pull out the credit card. It's kinda like "Capital One - What's In Your Wallet" except that the PICTURE is that of the BEAST with Uncle Sam riding on its back. They fly around like a dragon, TOURCHING other places around the world and STEALING their stuff. Hey man I watched "Apology Of An Economy Hit Man" on LinkTV the other day. I am up to speed.
BUT WAIT Mellaenous - as you look at these wall street types who were OVER LEVERAGED - this multiplier effect of LENDING 6 times the money that they actually had in the bank and thus allowing them to OVER EXTEND THEMSELVES.......how is it that you EVILIZE them?
This is because, Mellaneous - you are more agreeable to DEBT ENTITLEMENT SPENDING. In fact, it seems - the LARGER THE DEBT the more the "Social Justice" is spread, the more the PROOF that our government CARES for the Least Of These.
Mellaneous - when will YOU reject the "Too Big TO Fail" ethos as it applies to the US Government?
M. Rigmaiden, thanks for that link.
I am actually enjoying the debate with Tersi and Anon. 7:06 pm.[I think he/she is the rest of the anons with something intelligent to say. I disagree with damn near 100% of it. But hey, at least he/she can debate without condescension and name calling.]
Rottnkid, have a great weekend! And stay out of trouble. :)
field negro said...
The shadow banking system is over 600 trillion dollars strong. You heard me: 600 trillion U.S. dollars strong."
You've been standing out in the field too long, the shadows are confusing you. There ain't no $600 trillion dollars in the whole wide world. Not even in China.
fn:
yes it is a chi-town thing
we know dem thugs man!
in chi, politico = slick shady al capone crook!
it is also a bilderberg/trilateral commission/comm of 300/gwb/dick c/bohemian grove/illuminati/911 hoax/obama deception/manchurian candidate/dl dreg crackhead thing too/souled out blackish elitist traitor type of thing too bro...smile
have a great weekend
rebel field negro love,
ab
fn:
ps:
it is also an aig/lehman bros/citibank/wall st/fed reserve... type of thing too bro!
LA Coincidental- ditto to your posts about your hard working friends and their struggles. I know a few too.
Fine Frog Hair- I always forget but I dig your poems.
And great post in reponse to CF on the whole economic multipliers great points.
Tersi- you are fighting an uphill battle but thanks for the clear explanation of the subprime mess. Its ironic that folks who go around calling folks partisan can't even acknowledge that the truth is the truth no matter what your politics.
Anonymous said...
"Tersi; There are no $600 trillion banking systems, shadow or otherwise. The global GDP for 2009 was $57.53 trillion dollars.
In 2000, the UN estimated the total wealth of the world at $125 trillion. So how could there be five times in some shadow banking system? Come on, man. An fire can too melt steel."
Read for yourself:
Our economic difficulties result from a perfect storm of five factors coming together. They are: 1) bad mortgage debt; 2) unregulated credit creation where world-wide investment banks bet $550 trillion dollars that the US housing market would never decrease in value [the unregulated shadow banking system]; 3) well laid out public plans of the Federal Reserve to protect the financial industry regardless of how much new money must be created; 4) a lack of savings and structural inability to grow out of our bad debt; and 5) an unprecedented 70% foreign ownership of US treasury securities."
Now, with the use of "Repo 105," they're using another scheme to yet hide corporate debt, and continue it's reckless investment schemes.
The result: The American people are being screwed, and most don't have the slightest knowledge of why, and by whom.
It's easier to blame the liberals and President Obama than to know the real, awful truth.
Can somebody tell me what in the world is Unconstructive Feedback talking about in his post at 7:54
Really this has been a very instructive blog today. Everyone has been clearly articulating their positions except YOU!
Social Justice Capitalist??
Why do you make stuff up. This is not that serious. You can take some time away from Field's blog when you don't have anything "constructive" to add.
Did you forget that your handle is constuctive feedback??
But I think it is you that is miserable.
Some more thoughtful and intelligent folks have taken you on and you respond with vague verbiage. You really should have answered Granny's question, it was a fair one considering all your grandstanding and the implication that Social Security and Medicaid and Medicare should be cut.
But I understand that you may be weary because you took a beating from LA Coincidental and even Fine Frog Hair hammered you. I mean "screw you" is not a very intelligent or effective rebuttal. And Tersi is taking apart some of your assumptions as well.
Debating is like sports CF. if you don't have your stuff together and/or are ill prepared, or meet a better opponent you can get creamed.
As you know (lol)
AB said;
it is also an aig/lehman bros/citibank/wall st/fed reserve... type of thing too bro!
yep!
Mellaneous: "Its ironic that folks who go around calling folks partisan can't even acknowledge that the truth is the truth no matter what your politics."
And I will merely assert that what you think you know about the housing crisis is not true.
Tersi: With all due respect, your citation simply cannot be correct. I will grant you that the sums involved are staggering, but they do not comprise 500% of all the wealth in the world. For that to be possible, we'd have to be owing a shitload of money to martians.
Anonymous said...
"TERSI: " The side bets weren't mandated by the CRA.
"'The side bets were created so that the subprime loans, a big gamble to say the least, would be enticing to investors who knew the risk of these investment instruments.'
"That's EXACTLY what I said. There would have been no need for side bets if not for the subprime loan mess! OK?"
My last patient attempt to communicate: The side bets were a farce. They were bogus. They didn't really exist. They were issued to entice investors, but no money was actually set aside in case the investments failed--no capital reserve.
Had they been legitimate insurance against loss, the insurers would had to put aside a certain percentage of their earnings (mandated by law) to cover losses if they occurred.
They didn't. The derivative market wasn't regulated. And bankers did every thing they could to keep it that way.
Rather than back up their insurance/securities with actual capital reserve, they pocketed the money, and/or used it to gamble further.
How many ways could they screw the American people? They lost count.
field negro said...
"I am actually enjoying the debate with Tersi and Anon. 7:06 pm.[I think he/she is the rest of the anons with something intelligent to say. I disagree with damn near 100% of it."
That's because you are almost always wrong. I'm just trying to help.
Have a good wekend.
Tersi: "Had they been legitimate insurance against loss, the insurers would had to put aside a certain percentage of their earnings (mandated by law) to cover losses if they occurred."
Right. It wasn't really insurance, but a transfer of risk without the reserving requirements of insurance. Since AIG had an AAA rating, the holders of the debt could hide behind that. But the thing they were trying hide was the SUBPRIME DEBT. AIG sold guarentees it could never cover should the housing bubble burst. and bubbles always burst. Without the CRA creating this steaming pile of bad debt, there would not have been a need to set up this market.
Ms. Banks,
There is a quality in some of your writings that appear to express important opinions on various topics; but at other times they to appear be the rantings of a person who is out of control or extremely insecure.
As a person relating to you only through your writings , i believe that you obscure your message and dilute your opinions by using foul language, and engageing in the meaningless retoric of others.
You do not have to prove who you are or what your sexual proclivities are; conversations such as these take you off message, and prevent honest debate.
While I do not agree with your stance on health care reform, I do agree with some of Mr. Naders has said. However,remember that Mr Nader has been at this (politics and consumer activism) for a long time, but has yet beeen to elected to a public office.
The understanding of the art of compromise is one of the reasons that true activist find it difficult to get elected.
With referance to your calling the President hobama i hope that you understand that we all prostitute ourselves at one time or another; a hoe gives it up to anybody, a street walker gives it up for a small price and the high price call-person gives it up at a premium price. They are due respect.
Anon I may not know as much technically about the housing industry(and you have worn poor Tersi out trying to explain to someone who is trying hard not to make it the fault of the greedy, big business operators, free marketeers, free enterprise...)
but I do know this:
LOTS OF PEOPLE GOT RIPPED OFF!!
LOTS OF HARDWORKING PEOPLE WERE DUPED!!
IT DIDN'T HAPPEN BY MAGIC SOME FOLKS ACTUALLY GOT TOGETHER AND SCHEMED!!
IT AINT RIGHT!!
Thats the point of the conversation a wrong was done and how can we make sure it doesn't happen again and if its endemic to the system of capitalism then maybe we ought to change the system.
Mell:
"LOTS OF PEOPLE GOT RIPPED OFF!!
LOTS OF HARDWORKING PEOPLE WERE DUPED!!
IT DIDN'T HAPPEN BY MAGIC SOME FOLKS ACTUALLY GOT TOGETHER AND SCHEMED!!
IT AINT RIGHT!!
Thats the point of the conversation a wrong was done and how can we make sure it doesn't happen again and if its endemic to the system of capitalism then maybe we ought to change the system."
Then it is important to know HOW this happened and WHO is guilty so as to right the wrongs and prevent it from happening again. I believe the CRA was the root of this, and it's defense by corrupt politicians will one day be seen as monumental scam. But there is plenty of blame to go around.
Anonymous said...
"Tersi: With all due respect, your citation simply cannot be correct. I will grant you that the sums involved are staggering, but they do not comprise 500% of all the wealth in the world. For that to be possible, we'd have to be owing a shitload of money to martians."
It's not real money. They are bets. Bets against the actual thing. This is why they're so dangerous. The bets are greater than the GNP of all the world nations combined.
When investors are holding these things (risky securities), as insurance against loss, they're at risk, as well as those who issued the securities, especially if capital reserve wasn't set aside to cover the bets, if losses occur.
Although congress says it's working to correct the deficiencies in the financial markets with regulatory reform, if they don't get it right, we're still exposed to a financial collapse of colossal proportions.
Many Americans are still not aware of the tremendous threat facing our economy.
And fewer still (who know the threat) are talking about it, in an effort to wake us up, and galvanize us to act.
@anon__"Without the CRA creating this steaming pile of bad debt, there would not have been a need to set up this market."
The subprime borrower represented the last frontier of untapped borrowers, which made them a lucrative target for the unscrupulous.
Here's the best article I have ever read on the role of the CRA in our econmic freefall.
It's balanced, and accurate.
"Don't Blame the Community Reinvestment Act
"Homeownership rates and CRA enforcement soared in the 1990s, but sub-prime came later. CRA shouldn't be the scapegoat for the housing meltdown."
oh my God, I have a headache, could somebody please help me with this?
Alicia Banks is so interesting.
I used to be ugly but now I am not.
My boyfriend was a good looking guy, then he smashed my face.LOL, this is a joke, a parody, a huge laugh.
assnons all want to be real writers like me, but not as much as they want to be wriring critics.
assnons do not really think i care about the blatant envy and transparent lies they post as reviews.
assnons have no blogs because they cannot write!!!
http://aliciabanks.vox.com
assnons all want to be real writers like me, but not as much as they want to be writing critics.
assnons define "sexual proclivities" as anything that is not sexual silence!!!
assnons pretend that all of the vulgar lewd gaybashers herein are posting scared virginal love letters to me.
shame!!!
assnons who defend obama whined about gwb being a ho for wars/oil etc.
assnons are illiterate lobotomized hypocritical politically suicidal hobama nazis!!!
Ms Banks,
I can tell by your descriptive writing that your intellectual ability is far superior to that of us mortals. The problem is we are waiting for you to prove it.
The use of a few catch phrases (assons, hobama), does not indicate the skills you so proudly say you have.
To insure a valid debate requires valid points on various issues not insults and vulgarity; also the a string of large words is not a sign of great intellect, it only shows that you might have access to good dictionary.
assnons envy me so...and they are too stupid to mask that envy!
it sucks to be assnons!!!
He can't spell Syracuse and picked Kansas. Not the best of picks. LOL
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