Financials mess

[sdirt]

I manage a retail operation, a bakery. If one of my management team makes a mistake, its on my watch. Its my responsibility. I take ownership of that mistake and use it as an opportunity to become better at what I do.

The same applies to Bush. It was on HIS watch. He (at least partly) owns this.

[LIVE FO RETSINIM]

Well shit, bush has only bankrupt every business he has touched, why would we expect anything more from him running the country? He did exactly what he does, no surprises there.

[Blonde leading the blonde]

Well shit, bush has only bankrupt every business he has touched, why would we expect anything more from him running the country? He did exactly what he does, no surprises there.

This is my understanding, as well.

[PnDsCm]

The same applies to Bush. It was on HIS watch. He (at least partly) owns this.

Partly I will agree with, but I'm not absolving Clinton. He signed the Gramm-Leach-Bliley act and encouraged the loosening of monetary policy.

I furthermore nominate this post for ironic post of the millenium...

[sdirt]

Partly I will agree with, but I'm not absolving Clinton.
I furthermore nominate this post for ironic post of the millenium...

why? Bush fucked up his last term. its not my fault.

[PnDsCm]

Oh for fuck's sake... just lighten up for 2 seconds. Sheesh!

I wasn't just talking about YOU....

[sdirt]

http://www.city-journal.org/html/10_1_t ... ollar.html

interesting read.

[DeathFrogg]

Partly I will agree with, but I'm not absolving Clinton. He signed the Gramm-Leach-Bliley act and encouraged the loosening of monetary policy.

I furthermore nominate this post for ironic post of the millenium...

Bear in mind that the Gramm-Leachy-Biley bill had a veto proof majority in Congress. It would not have mattered whether he signed it or not. It had the full support of every Republican and several Democrats. It was pushed hard by Gramm and Gingrich and Leiberman. That was just gilding the lily that was planted by Ronald Reagan.

We're being played. Like a hot fiddle at a gypsy wedding. The bankers are flat out saying, look, we can totally fuck everyone over unless you give us every penny you have left. They are, in fact, quite literally holding a gun to the nations head and threatening to pull the trigger unless we do exactly as they say.

It is a coup, disguised as a robbery. There are three, THREE, banks that now control something like 80% of the total economic output of the United States. They own the insurance companies, the newspapers and television media, they own all the companies that build weapons for the military and anyone else with the cash to pay, including people who would just love to see the U.S. flattened like a pancake. This administration is an active participant in this. This President and his allies in Congress bear direct, personal responsibility for letting things go this far. It couldn't have happened without their direct knowlege and support.

These men take home a million or two or more every month, and complain about how terribly mistreated and overtaxed they are. They work SO HARD, they "deserve it". They dont work like normal people. They sit around in offices, move paper around, talk on the phone and blow smoke up each others asses, along with ours. They play golf with their banker buddies a couple times a week and sometimes take their private jets to the Bahamas when they need to get away from it all. They go to clubs where they sit around and sip 150 year old cognac, make jokes and sneer at all the stupid people running around in little circles trying to make a buck or two to just fucking feed themselves.

They charge us exorbitant "fees" to conduct our daily buisiness, then threaten us with more chiseling confiscation of our hard earned paychecks if we don't just roll over and pee on ourselves like a bunch of whipped puppies. You and I are paying taxes on our income, to pay off THEIR debts, that they incurred on themselves by stealing from us and each other and shooting craps with the proceeds.

Almost on the third box.

[LIVE FO RETSINIM]

why? Bush fucked up his last term. its not my fault.

why of course it is your fault. You voted for him.

I can honestly say it is not MY fault, as I did not vote for him, but someone who voted for him must take fault. See how that works?

[LIVE FO RETSINIM]

why of course it is your fault. You voted for him.

I can honestly say it is not MY fault, as I did not vote for him, but someone who voted for him must take fault. See how that works?

and when I say it's your fault, I don't mean you were just part of the problem, I mean it is directly YOUR fault.

[Human333]

Watch this video 'Money as Debt'

http://video.google.com/videoplay?docid ... 2583451279

Helps to put some of the current economic turbulence into perspective.

[PnDsCm]

[DeathFrogg]

Ayup.

[derek666]

http://www.opensecrets.org/orgs/summary ... D000000085

http://www.campaignmoney.com/political/ ... p?cycle=08


http://www.sourcewatch.org/index.php?ti ... Chase_Bank


I see an almost even 50/50 split between the DNC and GOP in money makers from this mess!! Looks like its time to make a new party

[Blonde leading the blonde]

[url]Looks like its time to make a new party

Truly, IMO, if we had a viable third party, it would be much more difficult for one side or the other to "win" simply by negating the other side. I've been wishing for a viable 3rd party for years and years.

[PnDsCm]

Martial law will be declared if you don't pass this piece of shit "bailout"...

http://www.youtube.com/watch?v=gnbNm6hoBXc

hahahahahha

at least one of them wasn't afraid to speak up.

[PnDsCm]

Bailout scam passes, DJI drops 100 points while they applaud....

Winner!

[DeathFrogg]

The third box.

The problem with political parties is that they tend to focus too much on small nuances of policy. The details are the tactic, the method of presenting those details are the strategy. The Military, the economy, how we relate with and do buisiness with other countries, how laws are enforced and interpeted. Thats why you see the Bush administration literally ignoring and deliberately violating laws that have been on the books for decades or centuries and knowing full well they will never be held to account for their criminality, no matter how egregious those criminal actions were. It has been the same since John Adams was President.

They all try to hide behind detail. They have hundreds of people working constantly to develop speaking strategies for candidates that will hide their true policies and tactics while poofing out the details that hint at those tactics they are going to present for public consumption. They don't really have to actually know anything, they just have to present themselves as knowlegable people. As people that have superior access to information. It is the ultimate insult to the voting public. They work from the position that we the people are just too stupid and uneducated to deal with the specificities of major problems like the current banking crisis.

Fact: Mortage loan operations sold people mortages that were specifically designed to fail. The usurious interest rates were sold to the public as an incentive to refinance within the five year period. They told these poor dumb bastards that if they made all the payments on time at that pre-adjusted interest rate, their credit score would be repaired well enough refinance at a lower, fixed interest rate because the value of their property will only increase. That was in every advertisement and every news story on the subject. It was a suckers game from the beginning, and the mortgage loan companies were very deliberate in how they designed the details in the contracts they sold to people. The purpose was not to get people to own homes, it was to get people to facilitate transfers of enormous amounts of money into the bank accounts of the men who owned those operations.

Fact: Those mortgage loan operations were then encouraged to sell those mortgages to third-party operations like foreign banks. They bundled them into these things called "Mortgage backed securities", effectively bank issued bonds that grouped hundreds or thousands of mortgages (and car payments etc) into single chunks for sale to foreign suckers like the banks in Japan, Britain, China, Germany and the big banks right here in the U.S.

You are required as a matter of contract to allow the sale of your mortgage to third parties like these banks or you won't get the loan. It is written right into the contract.

What this did was take those outstanding loans out of the hands of the people that sold those mortgages to the public. Those mortgages were off the books of the initial lenders, who could then demonstrate positive cash flow to the SEC and the stockholders, and the top executives could take home massive quarterly bonuses (tens or even hundreds of millions of dollars) for themselves based on obscure formulas that they won't ever allow to become public. This system can only work so long as a majority of mortgages are paid on time. But when somebody loses a job, or has to pay for a massive medical problem, or have the interest rate explode on them, the system breaks down. What happens is the banks end up owning the property, have already made a lot of money off the intitial mortgage payments, and are still legally owed the money borrowed by the suckers who bought the houses in the first place.

What you have now in this "banking crisis", is those suckers who bought into the mortgage backed securities: the 401Ks, the foreign banks, the pension funds, the State governments, everyone who bought into that second tier are now howling for their money back now that they've realized how terribly hornswoggled they've been. It was a ripoff scheme from the beginning, and the people who set it up made hundreds of billions of dollars and left the Federal Reserve Bank and the general public holding the bag. The Federal Government is forced into the position of buying these securities back or the bankers roll us over and fuck us like the prison bitches we are.

And these assholes get to keep every penny they stole. They spent decades setting it up. Lobbying for changes in the laws, engineering elections, outright malfeasance. This took decades to set up, and it worked damn near perfectly.

Man, what suckers we are.

[PnDsCm]

Make that 200...

[PnDsCm]

Wow... down 300+ from the highs today... This market stabilization is amazing!

[derek666]

http://blogs.moneycentral.msn.com/topst ... ilout.aspx

[derek666]

http://www.marketwatch.com/Quotes/

[derek666]

The bailout will work wonders for people like Warren Buffet!!! and the rest of the elite rich-o's

[AchimbaProphet]

Warren Buffet gave $37 BILLION to charity. I do not mind him making more money.

[LIVE FO RETSINIM]

Warren Buffet gave $37 BILLION to charity. I do not mind him making more money.

Shit he must have made a couple of billion from Margaritaville alone!! His albums sell no matter what though.