Posted on 02/11/2009 8:45:38 AM PST by pabianice
Fellow Freepers, you just missed a great show. Democrat Maxine Waters just had a psychotic break during the House grilling of top bank CEOs regarding what happened to the $ 350B they got but somehow never made it to customers.
Maxine -- never the calmest of souls -- got on an incomprehensible tear and, her voice rising and becoming a low-level screech, began accusing the CEOs assembled of piracy, lying, and gross abuse of bank customers. She lit into a litany of every Leftist Lunatic grudge against capitalism in general and banks in particular. Wild-eyed and shaking, she stopped actually asking these poor guys questions and simply yelled accusations at them, telling them to "raise your hands" if they pled guilty. No one could get a word in edgewise. Finally, as Maxine reached the level of Howard Dean screaming at his audience, the chair interrupted and tried to get her to stop self-destructing on TV. Maxine ignored him and kept her screechfest going. Finally, the chair simply stopped her, telling her that she needed to submit her "questions" to the CEOs after the hearing ended. Moment of stunned silence. Then the grilling continued by another, saner Dem.
I hope this makes Youtube. Waters is a raving hatemonger and we need to make sure everyone sees her in action.
where is it? I’m not seeing ranting and raving... just stupid typical Maxine questions.
Wasn't the banks...
I think that might have been Sheila Jackson Lee.
That's what happens when a major push is on to lend all kinds of money to people who will never pay it back. It starts a chain-reaction infecting areas which were initially not part of the mix. Why wouldn't sub-primes end up being offered to wealthier people when the Gov't was aiming at owning huge percentages of overall mortgage debt?
Every bubble throughout history is the same. It ends up infecting areas which initially no one saw as connected.
Why do you think average Joe's retirements were affected? They also contributed to the bubble. The smart minority were the ones who pulled their money out early.
bfl
That’s why I asked if that was the clip. I was expecting to see her climbing over her desk. Still, she’s pathetic. “Raise your hand”. Puh-leeez.
Thanks for posting that. I didn’t once hear her seem at all angry at the people who are REALLY responsible for the whole mess...Congress.
Congress’s ploy to deflect the blame from themselves does seem to be working.
You’re exactly right. Banks who did not make those loans were penalized. For instance, if they wanted to expand (build a branch in another area) they had to prove they were making enough of those types of loans. I’m sorry, the people who made the rules are the most responsible. But instead, we see them raking other people over the coals to convince the sheeple that they had nothing to do with it. Sadly, many people will buy that.
Was there greed? Sure, and if you can show me any group of people that doesn’t have some of that, I’ll be amazed. But the bottom line is that, contrary to what Ms. Waters and many others believe, banks are in business to make money. And they work within the framework of regulations they are given. I don’t always like what they do either, and if those guys broke laws, I say let them have it with both barrels (figuratively speaking). But they were not the source of the problem.
I would like to see them ask intelligent and pertinent questions, and then actually let them answer them instead of this silly, “Raise your hand, I don’t really want to hear what you have to say” grandstand ploy.
Some of this crap has it's dirty little roots all the way back to the New Deal. It's a minor miracle that we haven't had more trouble than we are currently experiencing before this.
Going forward, it's looking like we'll follow the former Soviet Unions course. Our crash will be an order of magnitude worse than theirs simply because we had more GDP to begin with.
LOL Dead ON!
Yes, for the first time in my life, I am truly concerned that things will never be the same.
good lord, this repulsive wench is a tool.
5:35 to 5:41 on the You Tube video — that guy’s WTF expression? Priceless!
The banks decide on the rules...it’s called underwriting. The banks decided on the criteria used in making loans...plenty of banks didn’t make such loans.
http://www.freerepublic.com/focus/f-bloggers/2184048/posts
Being forced to cover subprime mortgages started this. And that's just this one market bubble. S&L crisis. Junk bonds. The Internet business crash. Housing. Next up derivatives and treasury bonds that will be worth nothing once the hyperinflation kicks in.
All driven by government messing where they have no legit business being.
I didn’t hear her try to explain further, maybe because she doesn’t know what the hell she’s talking about either.
Nonsense...even the loans (Fannie and Freddie) they supposedly were forced to write (twist my arm pretty please) do not even amount to 1/10 of the TARP and Fed money already used to save these banks. So what’s the rest of the money for do you think?
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