Posted on 04/27/2010 7:52:07 AM PDT by MNJohnnie
I am venting too.....what a show,...the common folks will love it!
Unbelievable! I am going to watch it again tonight to make sure I didn’t miss anything..lol. The ‘Goldman’ cronies kept talking about ‘risk management’ all day, while the corruptocrats in congress kept talking about ‘shorts’.
Bottom line..They are ALL selling the American taxpayer ‘short’ and the true ‘risk management’ strategy of Goldman Sacs was to ‘buy’ Obama and the democrat congress!
It’s a kangaroo court..dog and pony show.
You really should read this woman’s solutions:
My husband and I are very impressed with her...so much so that we think she should be made the next Treasury Secretary under the next republican administration..LOL!
After The Fall..Saving Capitalism from Wall Street and Washington by Nicole Gelinas
http://www.manhattan-institute.org/after_the_fall/index.htm
You are calling it. Both these businesses and Congress along with Obama are in it together just stealing blind. We all know it and the press, including both parties are trying to hide from everything than do the right thing or tell the truth which when you are a crook and thug doesn’t enter into it.
Not only am I advocating getting rid of them; I am saying send them to jail as well; and not one of the selected fall guyzs to go down.
Dittos! Send them to jail!
Barbara Hollingsworth: Fannie Mae owns patent on residential 'cap and trade' exchange
See link at #66.
Thanks for the link. I heard about it on Beck’s show yesterday. Our country has been taken over by a bunch of thugs,commies,criminals,spineless bureaucrats and a corrupt media!
Right, she’s advocating a return to pre-Reagan era Financial Regulation and Teddy Roosevelt style trust-busting and interference in the marketplace.
I’m advocating
1) Wall Street paying back the money they took from the American Taxpayer.
2) Forcing Wall Street companies to be partnerships so Upper management has all their skin in the game.
3) Minimize the incentive for Upper Management to goose their stock price, build for the long term not the short term.
4) Move Fannie Mae back into the role it played in the US from 1938-1968.
I’m a pragmatist first, conservative second. This philosophy has served me well in life, love and business.
You obviously have not actually understood what she is advocating. She is actually advocating a true return to free markets. Ending ‘too big to fail’ and less interference in the free market by government.That doesn’t mean no regulation...it means ending the government interference that brought us to this point. I recommend her CSPAN videos here for a better understanding:
http://www.c-spanvideo.org/program/id/216917
From reading your posts Maddog, you are not really much of a conservative. If you were to be honest, you would admit you are quite comfortable with the centrist Republican "Be Democrat Lite" school of political thought.
1) Wall Street paying back the money they took from the American Taxpayer.
They did. Almost all the TARP money has been repaid by the firms who were forced by Government regulators to take it. The Obama regime simply took that repaid money and SPENT it despite the law clearly stating the repaid TARP money was to go towards paying down the Deficit.
2) Forcing Wall Street companies to be partnerships so Upper management has all their skin in the game. 3) Minimize the incentive for Upper Management to goose their stock price, build for the long term not the short term.
So in other words, use the power of the state to impose more regulation on business instead of looking at why the existing regulator structure completely failed to work. Again, hardly a conservative/free market solution.
4) Move Fannie Mae back into the role it played in the US from 1938-1968.
NOW you are finnally onto the real root of the crises. The bastard capitalism created by the Public/Private system started by LBJ and added to by every administration since.
The problem isn't the Free Market, the problem is since the 1960s this country has been taken over by a system of Crony Capitalism. Those with money and power use that to buy influence and preferential treatment from the Government.
The solution is to find why the existing regulatory system failed, streamline and reform it. What is not viable is your notion that we simply need to grow the regulatory power of the state that complete failed to work in the 1st place.
Completely false statement Maddog.
Check Open Secrets.com.
2/3rds of Wall Streets donations go to Democrats including just under $1 million to Barack Obama's 2008 Presidential Campaign from Goldman Sachs alone. Wall Street money is flowing to the Democrat party. The accusation about it flowing to the GOP is a completely baseless accusation falsely made by the Obama Regime's PR machine.
You really must learn to do some basic research MD, not just regurgitate what the Obama regime tells you to think.
Excellent point by point rebuttal!
How do you end “too big to fail” without government intervention? Is a company supposed to voluntarily give up market share? Is a company supposed to say “Well, we’re big enough, lets stop expanding?”
When left to it’s own devices, the free market trends to monopolies.
Why don’t you go watch the video link I provided you? It’s obvious that you haven’t. Intervention and regulation are not the same thing. You are talking apples and oranges. Plus, we are not talking about ‘companies’ in general..we are talking about Wall Street,trading and banks.
Do you watch videos at work? I can surf a bit on the net, but watching videos is just impossible.
And what's the difference between a Wall Street Bank and a company? The General Market Principles are the same.
If we go back to what your author wrote she said: In the early eighties, modern finance began to escape reasonable regulations...
And she concludes with First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again.
Wall Street hasn’t even come close to paying back that money. You still have the billions we gave to AIG. Really who’s reporting the paybacks? The Financial MSM?
2) Did the repeal of the Glass-Steagall force more regulation on businesses or less? Was the decision not to regulate propitiatory trading more regulation or less.
4) How many housing bubbles did we have before 1970? Do you think without Fannie & Freddie. Fannie existed quite well from 1938 to 1970. Fannie existed quite well from 1970 to 2005 - it was only when they went into the subprime market they imploded.
Contrary to Leftist dogma, you all are welcome here. What we do not tolerate is the habitual intellectual dishonesty and deceit of you “Progressives” continually engage in.
If you have to pretend to be something you are not in a vain quest for credibility, you have all ready lost the debate.
Your posts all suffer from the two most common logical fallacies you “Progressives” always try to use in debate.
Ad Homine attacks and stating your opinion as fact.
Those tactics work for your side with the uninformed and the ignorant. They do not work with Feepers.
In the future, rather then merely regurgitate the talking points sent you by Move-on.org, or what ever other "Progressive" group you follow, try actually researching the topic so you actually know the real facts instead of falling into the error of believing your opinions are facts.
You really need to watch the whole thing or read her book when you can find the time. I am not sure what you find objectionable in the words you quoted, but fear that since you have no time to understand them in context, that you might be reading something into them that is not there.
I realize you may not have the time today but please consider taking the time soon in your off hours to listen to this woman’s speech at the link.
I don’t know enough about the markets to say with authority that she has ALL the answers..but I can say that she is on the right track if we truly want to save capitalism from Wall Street and Washington. Her answers are what I consider fiscal conservative solutions under our present circumstances. Fixing ‘too big to fail’ is not going to happen overnight and neither is stopping our government from manipulation and intervention of the markets. She goes further in doing that faster though in her solutions than any person I have ever heard talk on these matters.
I would also recommend that you find time today to read what we are headed to if Obama and the democrat’s ‘fiscal fascism bill’ passes:
http://www.washingtontimes.com/news/2010/apr/28/financial-fascism/
I might also recommend you read Atlas Shrugged if you haven’t already.
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