Posted on 06/18/2012 7:29:44 PM PDT by Kaslin
“You seem to hate businesses, banks and private industry in general. What is your preferred government run economic system? Monarchy? Dictator? Fascism?”
I’ll add another point. Disagreeing with your ignorant posts regarding investment banking on that other thread is what has your panties in a wad. You’d be better served by educating yourself instead of resorting to throwing mud. Not that a lack of knowledge seems to slow you down.
I have never been more depressed about our future or the party that has screwed over me for decades. There is no hope for a shining city... only fear of burning cities... there is no hope for prosperity... just hope for it not to get as bad as it can get. In closing... there is very little hope of any good coming to America and I am now thinking that I may never live to see her in glory again. mitt romney isn't going to do anything but weld the doors shut to Conservatives and install the rockefeller wing of the party into permanent leadership roles.
Conservatives HAVE NO PARTY... WE HAVE NO REPRESENTATION...WE HAVE NO HOPE. I will pledge to fight both parties until I no longer draw breath... I will fight for America but I see little in the way of a path out of this wilderness... maybe a new party... but can America survive the time it takes to form one and grow it? I think not. When you see a gop/e leader... tell them how much you despise them and how much you blame them for our destruction... they have allowed the communist incrementalism that is killing us... the dims are the major players but they could not have accomplished what they have without treason from within the gop.
LLS
Well I have no hope left but I do have a lot of fight left in me. I never thought that I would see the republican party and the dim party BOTH working on the total destruction of what WE THE PEOPLE HAVE BUILT... for NO politician has ever built a damn thing... they are not workers by definition. They are royalty... an elite ruling class of those that never had what it takes to make it in the real world. They either teach... go into politics... or both.
LLS
You are deluding yourself my FRiend... he will just take a different route to the end.
LLS
yes - people don’t realize the resources wasted because states have to pay interest to the feds.
I thought I would see stories everywhere once those bills went out.
crickets.
I think you should contact Thomas Sowell. I’m sure he would be horrified to learn that he published a book that is providing misinformation to the public.
Maybe you can educate him and show him the error of his thinking? Maybe offer to edit his book and remove the mistakes?
“Maybe you can educate him and show him the error of his thinking? “
I wouldn’t have to, there’s already an abundance of writing on the bubble by people who were in the industry. Chain of Blame, Fool’s Gold, ECONned, these are a few worthwhile books illuminating the crisis. There are many more. And there’s valuable articles like the Wired piece on David X Li’s Gaussian Copula function.
Sowell errs by falling for the CRA bogeyman. The CRA cannot explain the billions of dollars plowed into the subprime mortgage market by the shadow banking system and investment banks. The CRA didn’t cover them, they were non-depository firms. The CRA also cannot explain the bubble’s international character. This wasn’t simply an American phenomenon. And if every CRA loan ever made had failed you couldn’t have generated a collapse like 2008, there simply weren’t enough of them. Moreover studies by the Fed and investment houses like Lazard have identified the failure rate for CRA loans at around 6%, whereas private market subprime loans failed at triple that rate. This is easily acquired information.
Sowell isn’t the first to blunder when writing outside his field, and the peculiarities and history of mortgage funding isn’t his field. It’s a shame to see him misleading novices like you.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.