O/T: What's Next?

Page 10 of 10  
B A R R Y wrote:

Lee, You were right. I just read that the no-shorting rule now applies to 800+ stocks.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
B A R R Y wrote:

Re-instating those two regulations seems to make some sense, particularly the need to eliminate naked short-selling.
--
If you're going to be dumb, you better be tough

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Mark & Juanita wrote:

Unfortunately, a rebuild of Glass-Steagal now appears impossible.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Woodie wrote:

I want to see Lew rant equally about those who initiated this mess -- those who have used Fannie Mae and Freddie Mac for both their personal aggrandizement (Franklin Raines, Jamie Gorelick, etc.) and for the political benefit of their benefactors in the Congress (Barnie Frank, Chris Dodd, Charlie Rangle, Chuck Schumer) by using those institutions for the massive re-distribution we are about to see in the name of "affordable housing". Those entities required that lenders give loans to people they knew would not be able to repay -- the real people who were going to pay were the taxpayers of the US because those loans were federally backed.
--
If you're going to be dumb, you better be tough

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
"Mark & Juanita" wrote:

Nice try to divert the discussion, but that crap doesn't stick on the wall.
Back to the subject.
What's next?
Lew
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Lew Hodgett wrote:

... Except it's what happened... :(
--
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On Fri, 19 Sep 2008 05:22:25 GMT, "Lew Hodgett"

I'd also like to hear Lew's take on it. After all, he brought up in his post the fiasco on wall street. M & J's post spot on as to the root cause of the current mess.
If you want to talk about politicians playing to the audience and the changing environment, then you better bring them all into that discussion, not just the one you don't care for. And then we would be here all week.
Frank

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Lew Hodgett wrote:

Yep, that's pretty much what I expected. ... and people accuse *me* of being partisan.
It doesn't take much rummaging around to find significant amounts of issues with Fannie Mae and Freddie Mac; problem is, they all lead to Lew's favorite party. One of the Obama's leading economic advisors is Frank Raines, the guy who got off with over $50M while Fannie Mae was writing mortgages for which we taxpayers are going to wind up paying.
--
If you're going to be dumb, you better be tough

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

That is a lie, Mark. Raines has never been an advisor to Obama. Simply not true.
Next time you join the smear gang, do your homework. Guess you don't want to talk about McCain's advisors?
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Mark & Juanita wrote:

Close but no cigar. This from http://firstread.msnbc.msn.com/archive/2008/09/19/1427108.aspx
From NBC's Mark Murray and NBC/NJ's Adam Aigner-Treworgy On the campaign trail in Minnesota today, McCain incorrectly suggested that the executive pay that former Fannie Mae CEOs Frank Raines and Jim Johnson earned came from taxpayers.
"That same executive got $21 million of your money," McCain said of Johnson. "And the other CEO, another supporter of Senator Obama, Mr. Raines got $25 million of your money. Let's tell them to give it back. Let's tell them to give it back."
Lucian Bebchuk of Harvard Law School, an expert on corporate governance, confirmed to First Read that Fannie Mae and Freddie Mac were private companies until being recently taken over by the federal government (which came after Raines' and Johnson's tenures).
Bebchuk said that maybe McCain was referring to past Fannie shareholders in the audience when he asserted that the executive compensation was "your money." Or perhaps McCain was making the point -- very loosely -- that now the federal government has taken over Fannie, any money that Raines or Johnson received is money taxpayers no longer have. But both assertions, he said, would be stretches.
Rich Ferlauto, the director of corporate governance and pension investment at the American Federation of State, County, and Municipal Employees -- a union which has endorsed Obama in the presidential contest -- was more blunt about Raines' and Johnson's compensation
"It was not taxpayer money," he said. "It was shareholder money."
    hang in there,     jo4hn
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
jo4hn wrote:

It misses the point. Those two companies were government-backed companies. They set policies in accordance with government objectives ("affordable housing", etc). The push to expand the "American dream" was expounded upon in an address to the Congressional Black Caucus by Daniel Mudd for example are indicative of what this "company" was doing, knowing its loans were backed by the government so the taxpayers would wind up paying for any bad loans. <
http://www.youtube.com/watch?v=usvG-s_Ssb0
. You can take or leave the pieces of commentary in the clip, but the real words of Mudd (all strung together, not taken out of context) show a political agenda and objectives that were running this GSE.
A GSE (government sponsored enterprise)that couldn't even obey government accounting rules when real private enterprises were expected to do so: <http://www.gsereport.com/2005/Dec%2013-January%203 (2).pdf>.
As I pointed out in a previous link, their sponsors in Congress (who were using "affordable housing" to buy votes) ridiculed the administration when the administration rightly attempted to exert additional oversight and loudly claimed that there was no impending disaster looming with those agencies (Barney Frank).
Is it a bit of hyperbole to say that Raines, Gorelick, Mudd, Jesse Jackson's Rainbow PUSH coalition, Chris Dodd, Obama, Kerry, et al got away with taxpayer money? Perhaps, but only a bit when you look at where they were spending money, how they were spending it and the low likelihood that the borrowers would be able to repay and that taxpayers were ultimately going to have to back up those loans.
--
If you're going to be dumb, you better be tough

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
"Mark & Juanita" wrote:

Good, glad you understand.
This is a thread I started, so don't try to hijack it, if you want a thread, try starting your own.
Back to the subject.
What's next?
Lew
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

I'll tell you what's next. You became a socialist nation today.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

There should be war-crime trials.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

No, retroactive taxation on war profiteering is better. And that should include taxation to pay for the future care of the war victims on all sides (both physical and mental trauma).
--
Best regards
Han
email address is invalid
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Retribution AND punishment.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload


Monetary retribution and physical punishment, preferably.
(I had to manually fix the quotation indentations, don't know why)
--
Best regards
Han
email address is invalid
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Well soon Obama will be in office and use his VAST experience to fix it all.........maybe NOT!
cm

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Lew Hodgett wrote:

1) Have the government spend money it does not have for decades because people have a "right" to ...(healthcare, retirement, cheap drugs, a house, a BMW, midnight basketball, education ...).
2) When the looming debt - the overwhelming majority of which is the consequences of government social spending - comes back to haunt us, set fiscal policy to ensure a weak dollar - thereby paying off old debt with now very weak dollars.
3) When the credit markets then go illiquid (because the money is phony), blame Wall St., the Republicans, pretty much anyone *except* the big government fools who are actually responsible (aka "progressives", "liberals", "compassionate conservatives", "social democrats" and other peddlers of economic fairy tales).
4) Do not allow the markets to correct for this economic house of cards. Use it as an excuse to further Federalize US business and its people.
5) Blame Bush, McCain, fiscal conservatives/libertarians, and their ilk in a massive act of misdirection while the US slips much more deeply into the collectivist sewer, possibly to be overseen by the arch Leninist, Comrade Obama.
---------------------------------------------------------------------------- Tim Daneliuk snipped-for-privacy@tundraware.com PGP Key: http://www.tundraware.com/PGP /
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Site Timeline

Related Threads

HomeOwnersHub.com is a website for homeowners and building and maintenance pros. It is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.