Posted on 02/02/2009 12:41:18 AM PST by Tempest
The basic story line so far is that we are all to blame, including homeowners who bit off more than they could chew, lenders who wrote absurd adjustable-rate mortgages, and greedy investment bankers.
Credit derivatives also figure heavily in the plot. Apologists say that these became so complicated that even Wall Street couldn't understand them and that they created "an unacceptable level of risk." Then these blowhards tell us that the bailout will pump hundreds of billions of dollars into the credit arteries and save the patient, which is the world's financial system. It will take time—maybe a year or so—but if everyone hangs in there, we'll be all right. No structural damage has been done, and all's well that ends well.
Sorry, but that's drivel. In fact, what we are living through is the worst financial scandal in history. It dwarfs 1929, Ponzi's scheme, Teapot Dome, the South Sea Bubble, tulip bulbs, you name it. Bernie Madoff? He's peanuts.
(Excerpt) Read more at villagevoice.com ...
If it limited pointless post like yours...I would be all for it.
What I want to know is what Bronxboy thinks he is achieving on FR?
Are we going to join him in lynching the capitalists? I can think of another forum where that idea would sell like hotcakes.
You were nasty first...that little sarcastic bit would piss off Mother Teresa...however, I don’t want to be nasty to you or anyone else-so sorry about my truly nasty post.
Also, sorry you lost money...I hope you didn’t lose as much as me...I lost a great deal.
The fed put the money in not part of TARP.
Really, I was under the impression there were government guarantees given...
I would not be lynching capitalist but those who wronged capitalism...big difference.
Why not ask me...I don’t even know who southhack is...or care.
The Fed put what money where? Link?
>>Red herring? are you smoking crack? did a red herring bankrupt Iceland?<<
Well, I understand they WERE a fishing economy.
I’ll have to check to see if it was primarily Herring though. ;)
OK I’ll ask you.
What do you think you are achieving on FR?
Who broke the law? Cite the law that they broke, the people involved.
I have not come to this conclusion yet. Liberals always find something or someone to necklace blame they cause 'bad' things happen. They went insane over what Mother Nature did when she ripped open one of their most favorite cesspools. NOT one of these lying liberals can say they had no warning what was heading in their direction. Soros sounds like he is still hedging his bets and crying wolf over Lehnman being allowed to fall. Diversion is one of their favorite tools.
The stupid politicians haven’t looked beyond the politics of socialism that places all the power within the political class to even consider what kind of economy and jobs would be available in the US if we returned to a “buy American” economy. The idiots have killed off all the manufacturing because they say that it is too dirty for the environment and encouraged companies to move to third world, “developing countries” that need the jobs. Then they turn around and tell us to buy American. There is nothing American left to buy.
I think the majority of politicians are just another commodity. They can be bought and sold, election in and election out. NOTE I said majority.... and in no way am I pointing to GWB, I think what did him in was the notion he had to show 'compassion' and the lying liberal made him eat those words literally day in and day out.
I in no way am trying to suggest only Dems as in political party are to blame. Liberals reside in both parties, and by 2000 election there was that case of irrational exuberance so called internet bubble that popped. Quite frankly I do not believe the average congressperson has a clue what the workings are of blowing bubbles.
The Republican that Obama is nominating for Commerce Secretary is being set up to take all the heat on the Obama protectionist regulations. The guy is not going to be able to handle the job and the EU people are going to claim that he is a hypocrite capitalist who wants the EU to fail. The commerce job is a Trojan Horse.
Free Republic is a place where free discourse is encouraged and a great source of news...I seek to accomplish nothing-only to communicate and discuss ideas... I have just as much right to my opinion as you do to yours...We are all here at the pleasure of Jim Robinson...if he finds my posts objectionable, he can take appropriate action. A better question might be why do you and a blessedly few others consider yourselves the arbiter of all things conservative? Anyone who does not march in lockstep with you can expect to be ridiculed and attacked...not that I care. It’s best to ignore site pests.
Well you seem to be the energizer bunny. I would think you have many many hundreds of posts just in the last 24 hours. Do you get paid for this?
Populist babble is hardly conservative.
Hey guy, nobody but nobody knows for sure what's happening tomorrow. What we know for sure is what is and what we've seen.
Fwiw, when unemployment finally tops off (assuming it hasn't already) it'll most likely be hitting its worse level in the recovery.
Did you bother to read the article before giving us your politically motivated opinion?...some of us prefer facts over the ideologically based blame game. What you say is just not true...if you sat down and look at the money involved you could see this clearly.
What I see is a rude smart ass, and I haven’t a clue what your motivation is any more than you know or understand mine.
If you had read the entirety of the thread you would know I had read the article, and considering the list of folks I mentioned in the post you referenced, I am not sure how you reached the conclusion that this was somehow politically motivated.
There is sufficient blame to cover any political party. Chris and Barney are just the tip of the obvious iceberg, and have provided plenty of facts surrounding the Fannie and Freddie “affordable housing fiasco” that was a major player in the financial blowup.
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