Yesterday, I saw my neighbor doing his patriotic duty by burning his used car tires and Styrofoam. Then the america-hating firemen came and put it out. You see...just more of big government interfering in our lives. If I want to breathe in carcinogenic fumes then thats my right as an American.
Honestly.. I find it funny that republicans are so blatantly arrogant, they believe they can spew the same typical BS talking points to EVERYONE, not just the people who follow them. Intelligent people, and lets be honest, Cenk is intelligent, call them out on their BS.. and they have ABSOLUTELY NO facts to backup their statements. They get their talking points, but no facts, statistics or truthful statements to back them up.
Rep Cooper wants further deregulation...she clearly doesn't understand what derivative trading is, how it works, and why its so fucken bad!! Not all derivaties are bad, however OTC or Over the Counter Derivatives, take place in private between the two parties interested. Since its in private, they don't go through an exchange, thus no paper work or paper trails. THAT'S THE PROBLEM. They trade basically, in secret. You don't know what's being traded, how much is lost, and how big the debt is
@Roeshamboe05 And its not the average Joe Shome trading 100 dollars here 100 dollars there. its our banks, the banks our direct deposit paychecks every weeks go to. THEY'RE the ones making these secret OTC trades, and not reporting exactly how much is being lost, how much debt they have total! So they say they have a million dollars of our direct deposit money in their bank, but really they could have lost it all times 10 through OTC derivatives and are lying.
THIS is the cenk I love. Brother, you're so much better when you don't get worked up and loud. How awkward was that smackdown about the gay comment?! Elbow from the sky. Cenk, you're ON. This interview rocks.
God help us all...and I live in this state. Her logic is so slipshod & half-baked. It was a Republican/conservative congress and a Democratic-centrist President(Clinton) who destroyed the depression era Glass-Stegall Act that would've prevented this wild gambling with America's treasury.
"You're telling me the bankers didn't want to make billions of dollars?" Cenk is so fucking clueless it's unbelievable. Someone, please explain to me how a loan with NEGATIVE VALUE turns into "billions of dollars." Anyone? Hmm? I am going to pay money to take a toxic loan off your hands? Not in a billion years. The REASON people bought these loans was BECAUSE they were government-backed. NO OTHER REASON.
@twk373 Risky loans and derivatives trading are separate issues. Toxic loans undoubtedly added to the problem, and I'm conceding that to you in the argument. But that's not what brought on the recession. The risky and unethical betting going on behind the scenes did. You take away regulation, they will DEFINITELY keep doing it. You know how I know? Because they're doing it right now. Stop being so damn thick and realize this is a multi-layered issue and you need to look at all sides.
No, it's really all the same issue. Why? Where did they get the money to bet on credit default swaps? The same place they got the money to make bad loans. From government guarantees and the Federal Reserve.
Look, if Wall Street actually had to gamble with its OWN money, they obviously wouldn't gamble, because GAMBLING LOSES MONEY. Are there any leftists who understand this? GAMBLING LOSES MONEY. Except when the government is handing you free money to gamble with.
No, Cenk, "sanctioning" means "sanctioning." Not "deregulation." Again with the bullshit about banks WANTING to make loans that lose money. Sorry, banks want to MAKE money, not lose money. The banks made the loans because the government TOLD them, "It's okay--we've got your back. Just get people in houses, no matter what it takes." Get your facts straight, Cenk.
"They made tremendous money flipping the mortgages." Again with the usual bullshit, Cenk? Why the fuck is anyone going to buy a mortgage that you KNOW is going to default? Who the hell is going to pay money to lose money? The only reason the banks could sell these ARMs was because Freddie and Fannie guaranteed them, so the buyers knew that the US taxpayers would be the ones eating the losses.
Once gain, Cenk, FUCK you. OMG. Using political clout to benefit your lover is a fucking conflict of interest. But you are apparently too fucking brain-dead to see this.
And Cenk goes off on his, "let them take whatever risks they want!" nonsense. The only reason the banks take risks is BECAUSE those risks are backed by the government, thanks to regulations. If there were no regulations, the banks would have to eat their own losses, and so they wouldn't take risks! This not rocket science.
Of course it's more complicated. But leftists are so embarrassingly clueless when it comes to economics that you have to keep things as simple as possible. For example, I love Cenk's concept of "deregulation." The government tells banks they CAN do something stupid, because the government has their back. What never occurs to lefties is that banks ONLY CAN behave stupidly IF the government has their back. Remove all regulations and all guarantees, and banks would be very safe.
@twk373 You need two to dance. The dance of corruption has two dancers: corrupter and corrupted. If banks didn't lobby, the politicians/regulators wouldn't have nobody to cave in, therefore it's also their fault. Unless you expect politicians/regulators to be saints...
If the politicians didn't have the power to grant favors, the banks wouldn't lobby. You just said you don't trust politicians, so why give them the ability to dance?
@twk373 The politicians have powers the citizens give them, they should be wise and use it properly. I didn't say I don't trust them, I said they are not saints. Bankers are far from being saints too. I would prefer to not let bankers dance, because bankers represent banks and politicians represent the people.
First, bankers are people too. Why should you be denied certain rights just because you're a banker? Anyone should be free to lobby congress, if they want to. It's in the constitution.
Second, the difference between bankers and politicians is that bankers can't force you to do anything. Politicians can. If the bankers behave fraudulently, the politicians can stop them. But when the politicians commit fraud, you're just out of luck. Better to limit the politicians.
@twk373 Although I understand your point about guarantees giving banks too much security to the point they'd risk more money, the other alternative would be to not guarantee people's money and be at risk of the banks robbing us for real.
Why would a bank rob its depositors, when this is illegal under fraud laws, and means the bank would never again be trusted and thus lose all of its customers?
If the bank system were free, banks would compete over how safe their investment portfolio was, as well as their interest rates; the system would be much safer.
Also, without the FDIC, you would be able to buy competitively-priced private deposit insurance, like you buy for your home or car.
@twk373Then you throw in deregulation in the argument as if it's the same argument and provide no proof for what you're saying. You're ridiculing all left-leaning people and yet you don't have a damn clue what you're talking about. You really think that, left to their own devices, banks would choose to not make billions of dollars. You're an idiot.
If you are going to repeat Cenk's bullshit, please explain to me how loans with negative value are going to make ANY money for a bank, let alone "billions" of dollars? Who is going to buy something that has negative value?
I ridicule all leftists partly because they've been hoodwinked into thinking that the prime cause of the financial crisis was the banks. But mainly because they support the limitless expansion of government power/spending.
Cenk! The bailouts are symptomatic of a greater issue: government intrusion into the markets. Leftists see regulations as "hurting" the megacorps, while the bailouts "helped" them. But the Tea Party doesn't care about hurting or helping Wall Street or any other market sector--the Tea Party just wants the government OUT. This isn't that complicated.
Thank you Cenk for not being a coward! Thank you for not lwtting their words just slip by like so many do. You are THE ONLY ONE WHO CALLS THESE SCUM=BAGS ON THEIR INSANE WORDS! THANK YOU CENK! GO GET'EM
@MangaMoogleMan I had no problem with the ice cream truck, guantanamo bay whatever. The points made were still there in the movie.
Even if you find those theatrics "unforgivable" to whatever consistent high standard you keep. Really? See these persons who raised their nose at Moore and then see the kind of watered down shit the same people digest on the tv for hours every day without problem.
Even if he is hit and miss with his points he does stirs up a good discussion.
@MangaMoogleMan I dont he has done that. People have found faults with his movies. No shit. But most of what he portrays in the movies makes sense to people.
Healthcare is tough, Gun culture in USA is ridiculous.
What really gets me is that Rep. Cooper's line of "reasoning" resonates with so many people. It is illogic. When you start saying things like "we're both probably right", you know her argument has gone south and she knows it. Politicians do not know how to admit they are wrong...kind of like that Barney Frank "quip" she tried to worm out of after she said that reflexively.
The free market and deregulation is not what killed the economy. Bush more than doubled the size of government, we eliminated the risk the banks took when we bailed them out. That is not free market. The government subsidizes almost every industry now, they set the interest rates, they inflate the currency and they spread the wealth to private corps. None of those are characteristics of a free and deregulated market.
AWESOME JOB CENK!!! I loved every second of this debate, and you just overwhelmed her! I love how you kept your cool when she was spouting off bullshit talking points and gay bashing Barney Frank. Way to hold her feet to the fire on all the crap she was spewing. She tried to get you off track and agitated and you just kept icy cold and on track. So fucking awesome! When will you run for office already Cenk?!
Yeah we both know why you brought it up, because Cenk is race-baited every penny he can get. It was an example about conflict of interest. What an idiot.
I'm pretty sure that she was about 30% of the way toward actually changing her opinion and agreeing with Cenk at the end there.
She literally had nothing, and she had to fall back on "we're both right" and "where to draw the line" when she had started off balls to the wall with her pro-deregulation talking points.
that was devastating. one of the best debates i've seen .
i feel a little bad for the woman, though. i can tell she's probably a good person, but her head's been filled with so much nonsense that she couldn't respond to lucid facts.
I understand the Republicans concern for economic growth, but at what cost.... exploitation of your workers, unsafe products, national economic collapse because of high risk ventures. I'll pass Capitalism alienates us from the world. We've become far too greedy. William Penn one of our true founding fathers warned us about greed.
They both just dont get it Glass Steagall under clinton was only repealed half way so deposit banks could become investment banks but they did not repeal deposit insurance which is retarded Obviously if you say the banks can do what every they want like Bush/Obama are doing but back everything up with the FDIC its a disaster with the bail outs BUT If deposit insurance was repealed as well then the banks would have the fear of bankruptcy and no 2nd chance via taxpayers
you know if this lady actually uses her brain she could be force but she would rather be tool at least she didn't hang up on him so it shows she has patiants.
that bitch is full of shit, she had her ass handed to her and yet she decided to look the other way and pretend to not see the truth, either that or she is completely retarded
It's called Credit Default Swaps and Derivatives..dumb bitch, the CRA was not designed to create bad loans it was the complete opposite. Banks were redlining and borrowing too much money because of leverage while complaining about not being able to liquidate their homes. Go ahead and repeat mindless talking points dumb broad. Keep beating ass CENK!!
That old lady is crazy and very very ignorant. I dont get how these monkeys are getting elected to run and control America. There's evil everywhere, there's terrorists and extremists but still America is destroying it self from the inside.
There are a lot of people who think like this old lady. These folks are police officers, truck drivers, electricians, store owners & any other occupation that is quintessential working/middle class american.
Unfortunately these people to which I speak of are less likely & disinclined to research independent news or data on the internet....if they even use the net @ all. More often these hardworking Americans have only enuf energy to maybe watch the T.V. or listen to radio.
Government regulating banks and big business is not "government interfering with our lives"! It is government doing it's fucking job, and protecting the people from predatory business practices.
C3enk is so polite... he realizes that this lady is is so out of touch with what's going on she is so bought into her talking points she can't think straight... I WAS going to say becaue she's stupid but i don't think thgat's the case I just think sh's ignorant.
the best thing is when cenk hammers her on her talking points and tries to make her clarify them and SHE CAN'T. because she's EMPTY she has NOTHING! just talking points, empty words no knowledge, no morals, no plan. nothing!
Hah! She didn't think Cenk would call her out on her gay-bashing bullshit, her loan bullshit, her regulation bullshit, but he's smarter then the scripted mother's at CNN and NBC.
Hah! She actually thought she was smarter than him because "well I'm a legislator so I know this".
Do I understand this correctly? Her entire argument is to allow the government to allow the banks to run rampant; but I thought that she said that is the part of the problem. Since when was a bank afraid to make money; they always have ways to make money they pay people good money to sit around and invent new ways to make money this lady is in their pocket.
Wow, Cenk found a real gem here. A Republican who spouts pure talking points, but has no obfuscation skills, making them extremely easy to knock down. She's so transparently dumb she doesn't realize that saying "we should have left the banks alone" is arguing to KEEP THE LAWS IN PLACE AND NOT DEREGULATE LIKE MAD MEN. Again, this just reinforces the Republican spectrum: they're either evil pricks or shithouse dumb.
Nevermind that his opponent is a nut with substance-free arguments, I really don't like Cenk as a debater, he always takes over and makes the debate one-sided.
I hardly think you dislike Cenk for the reason you stated.
I think you don't like the fact there is a progressive/liberal like Cenk who can coherently & in a plainspoken manner explain why 90% of the so-called belief systems & cultural worldviews that corporatist fundamentalist Christian Conservatives believe in are complete & utter bullstank.
The fact that he does it with passion, well-thought out arguments and with style probably irks you even more.
@willia3r ...Um, no, you completely misjudged me. I agree with almost all of the views expressed by Cenk and on The Young Turks in general. I think it's a pretty good news show, but it's more entertaining than informative, and Cenk isn't a very good host. Sorry if I hurt your feelings by daring to criticize your idol, but some of us can actually distinguish between holding correct beliefs and practicing good journalism. (Hint: they are different!)
@willia3r ...again, NO, I wasn't sidestepping anything. I explained that I agree with cenk on most things BECAUSE of what YOU said: "I think you don't like the fact there is a progressive/liberal like Cenk..." I wasn't sidestepping, I was responding to your criticism. You sound like a reasonable guy, willia3r, but you're a bit trigger-happy with debate lingo. Don't try to dismiss what people say based on a shallow judgement, try listening!
Oh no.... did she just use the "some of my best friends are...." defense? Wow. Not only does she not have any facts she used the classic bigot's defense. So do we really want people like her running this country? Unfortunately the answer is probably going to be yes in November. These people keep screaming how bad government is, when they ARE THE GOVERNMENT!
They have one fall back when cornered about the deregulation. And they all use it. BARNEY FRANK FANNIE MAY FREDDY MAC! BARNEY FRANK BARNEY FRANK! BARNEY BARNEY BARNEY FRANK FRANK FRANK!
Yes, Frank is an idiot. No, he's not completely responsible for the situation we find ourselves in. He had a lot of help from both other Democrats and especially the Republicans.
@DashCat9 I think almost all of us understand that the democrats are entirely culpable in this mess. I mean, how many times do people have to acknowledge that Barney Frank and others played a role, until you are purposefully obfuscating to cover up the real villains, which are a few democrats, most of the republican party, the bankers, president's Clinton and Bush, treasury secretaries, CEOs, etcetera, etcetera. There's so much blame to go around.
@Staticnz That's my point exactly. I was just saying that every single republican immediately tries to lay all of the blame on Barney Frank every single time that deregulation comes up. Their response is invariably "Yeah...but you know...Barney Frank".
Just finally, I think that these rigid ideologies are the problem. There isn't a 'government good' 'market bad', or 'government bad' 'market good' that is the solution to the world's issues.
Too much government is bad. So is too little. Free markets with no regulations build wealth, but none of it gets to the people and it leads to horrible conditions.
Political system matters too...freedom of speech, economic opportunities for middle class...political freedom...
I seriously don't think that Rep. Sharon Cooper actually understood that deregulation means stripping away rules of legally acceptable conduct by financial institutions. She has no firm grasp of vital facts, but her overwhelming arrogance isn't allowing her to admit that she might be wrong on the issue. Imagine if doctors were allowed to practice while being this ill informed.
BTW, she was right about Barney Frank. Obviously, not the mentioning of his lover part but in regards to him cutting back room deals and being an Uncle Tom for those corporations she was spot on.
Barney Frank's involvement with someone running Sallie Mae could be something worth thinking about. But Sallie Mae was into student debt not mortgage debt so it's probably a red herring. But you totally missed the conflict of interest argument she was making.
Also Fannie and Freddie gave credit insurance for home loans. That's what she was saying and that's relevant. It's problematic but not deregulation. Please brush up.
@mert1264 Cenk knows how corrupt Barney Frank is and has talked about it in the past. It's just that in this issue, there is much more to this than Barney Frank and to label him some sort of red herring is absurd.
The reason that banks were able to profit was simple: gov't provided Free Money and Moral Hazard by creating Freddie and Fannie, who stamped any piece of shit mortgage that could be sold, and as long as there was a gov't guarantee stamp on that mortgage, it could be repackaged and sold to anybody else, and it was all good, because gov't GUARANTEED IT.
Cenk is stupid, but this Cooper chick is not aware of the issues here either.
The reason banks are 'sitting on the money' is because they are NOT sitting on the money.
They are lending the money.
Back to the gov't by buying t-bills, and because they are getting the cash from the Fed at 0%, they make the spread. Cenk and this Cooper are both dumbasses.
And here is Schiff debating a 'professor' Epstein at university of Columbia and completely owning him on the entire bubble/spending/taxing/regulations/economy/collapse, etc....
@romanmir01 I mean you don't find it somewhat disturbing that without the most stringent of rules and limitations these organisations will go to the greatest extremes of financial abuse, manipulation and embezzlement? Sure, the GOVERNMENT made them so GREEDY, didn't it?
You can't just blame government for everything. Blaming government certainly has its place and I blame it for many many things, but libertarian types blame it arbitrarily due to rigid dogma.
@Staticnz GOVERNMENT GAVE THEM THE TOOLS TO USE WITH THEIR GREED.
WIthout gov't tools: gov't creating the giant monopolies, creating moral hazard of insuring deposits with FDIC, setting low interest rates, moving away from gold in 1972, subsidizing these monopolies, while creating regulations that killed off any small competitors and taxing the income of small businesses so they can't compete. Yeah, that's govt'.
@romanmir01 so government government government and once again you let off anyone that does anything wrong so long as they are described as 'private'.
I have a theory that libertarian would love to be enslaved, so long as the folks doing the enslavements were part of some private corporation that had nothing to do with the government. That already happens too, it is called health insurance.
But no, everything anyone ever does is because the government made them do it. They are just innocent.
@Staticnz that's just stupid. Nobody in private can enslave you as much as collectively enslave you. USSR, China, Cuba, North Korea, that's maximum gov't security.
People can handle BUSINESS and gov't can handle JUSTICE and MILITARY.
@romanmir01 no you fuck off. Go move to Somalia. Why don't go rub the oil spill on yourself. Why don't you go hang out in Botswana land and glug some off the Shell pipe line or partake in some child prostitution in Calcutta. Of course all that shit is the government's fault somehow, of course.
You think it is the government's fault that mercenaries working for Blackwater maim civilians in Iraq? I mean, it is the government's fault for HIRING them, so Blackwater is just INNOCENT right?
@Staticnz As I said, fuck you, fuck your useless arguments together with you, fuck all of your false arguments, which are all giant failures and fallacies.
@romanmir01 and government dictatorships are bad, wow, great news.
I'd still prefer to live in Sweden, Norway, the Netherlands, Denmark, Finland, Canada, or Germany, and they are these so called SOCIALIST UTOPIAS that kick your ass in education, health care, wealth development, economic stability and a wealth of other indicators!
@Staticnz I am Canadian, born in the USSR, currently living in Switzerland and spending time in Baden Baden, Germany right at this moment (where I am typing this).
You have no idea what the hell you are talking about.
Canada has a pathetic health care system, the economy is losing it's production because of development of natural resources. Most of Europe except Germany and Switzerland is fucked. Both Switzerland and Germany have HIGH SAVINGS, and Swiss have no income tax, that's why I'm here
@romanmir01 Right, no one in the private sector can enslave you. I have a fun exercise for you, look up the word "monopoly", and then apply that concept to an industry vital to human life in the modern world, i.e. health insurance.
@blankportraits Yet, before Nixon destroyed the real private sector health care in USA it was possible to get health care insurance for a family of 4 for $25/year *(YEAR) with $500 deductible covering up to 50K/year, which was enough for 2.5 full year of cancer treatment back then (cost 20K).
Nixon got gov't involved, created the monopolies and killed competition, and now you are complaining about that as if that was actual market doing it?
@romanmir01 It is useless arguing with you. You will never acknowledge that things like price gouging, anti-trust exemptions, "pre-existing conditions" are there because they are ALLOWED to be there, a.k.a the government has STEPPED OUT of the way. I will leave you to cling to your dogma in the face of crushing empirical data. Good luck wising up some day.
@blankportraits Here is what you are blind to: the 19th century provided a more relative increase of quality of life than 20th had, and it was free of any so called 'Great Depressions', though it had its share of recessions, which lasted between 6 month to a couple of years, but majority of people at that time didn't even notice them.
The only criteria that's important is this: what happened to economy in general.
@romanmir01 Hey I have an idea, let's make the time frame more current and thus more applicable to modern society! After FDR's New Deal that consisted of new regulations and higher taxes on the rich, we had about 3 straight decades of economic growth. In the 3 decades since Ronald Reagan began deregulating corporate America we have essentially recreated pre-Depression conditions, Wall Street has become a casino, and would you know it, we had another gigantic crash!
@blankportraits FDRs new deal caused the depression to get worse. Was there no WWII, which caused an entire generation of people to come home after war with very little training/schooling, there wouldn't have been a boom in the USA, which also was helped by the fact that the rest of the world was in ruin and USA has escaped the ruin completely, not counting paying for the war bonds and a bunch of dead people, but infrastructure was standing and untouched.
@romanmir01 Actually the New Deal started pulling us out of the depression in 1939. If you look at the unemployment rate in the USA, you will see that Unemployment jumped down drastically in 1938-39.
@deathVANQUISHED Except that anything that gov't provides as jobs is unproductive and prevents creation of actual productive jobs.
But no worries, you'll have your gov't job. You'll be paid in gov't money too. Too bad that the negative 60 billion/month trade deficit will mean your money will mean nothing, because interest rates and lack of credit/imports will mean your money will buy nothing.
@blankportraits Japan rebuilt, USSR failed, China opened its labor market, USA became uncompetitive with all its government involvement.
Gov't is a disease, it kills competitiveness of the market, kills competition, creates monopolies. Don't tell me 19th century is not applicable, it's perfectly applicable. It had huge growth, movement from agrarian to industrial economy, just like 20th century had move to information from industrial.
It's all applicable. Wall st. drunk Gov't provided booze.
@romanmir01 if you want to be a cunt then I'll just say fuck you too and leave it at that. Can't be bothered debating with you. I'll find someone who isn't a knob gobbler to talk to.
@romanmir01 I think Cenk would acknowledge Freddie and Fannie played a role, but the mortgage crisis is not the only aspect...there was the speculative gambling going on on wall street...Goldman Sachs, AIG, CitiBank...and it is kind of irresponsible to just flat out ignore the role that private industry had in this. These industries are corrupt. It isn't JUST government or JUST private groups, it is BOTH.
Schiff and co. have the braindead mantra that private always = good.
@Staticnz Schiff has a brain dead mantra? They guy who wrote the book on the crash explaining in detail how it's going to happen? The guy who has created a private business that made money for near 15 years except for 2008 for all its customers? He is brain dead? OK.
All of the banks were gambling because the gov't created the moral hazard of FDIC, insuring your stupid deposits AND the gov't created the moral hazard of risk-free mortgages by creating Freddie/Fannie and lowered interest rates.
@romanmir01 I said he has a brain dead free market mantra. He believes that without regulation private industry does the right thing. When there is no regulation a country turns into Somalia, or Nigeria, where great wealth and expansion is created by companies, and yet workers are treated poorly and they live in squalor and poverty.
I'm not taking issue with Schiff's predictions or savvy with the current system. I challenge his take on how his ideas impact the populations of the world.
@Staticnz He actually understands how economy works, as opposed to the Keynesian idiots, who do not, thus he crushes a Keynesian idiot 'professor' of university watch?v=zM23TZxzOw8 in a debate clearly.
And he is not an anarchist or against gov't doing SOME THINGS RIGHT.
That's right, look up what Minarchist means, it has a place for gov't:
1. Justice system.
2. Minimum military for protection.
3. Cops/prisons.
Everything else is better done in private, PEOPLE CAN DO BETTER THAN GOV'T.
@romanmir01 once again I'm not taking issue with Schiff's economic theories, I'm taking issue with the ethics of his theories, which are just screaming to be abused. I find it funny that you are so insanely adamant about government never doing anything that would allow greed in private industry, but the kinds of ideas that Schiff calls for, such as de-regulation, crazy tax cuts and privitisation of everything, is a sure fire recipe for all kinds of abuse.
@Staticnz You are complaining about ethics of a system where there is no gov't actor, who dismantles the economy by it's power of violence and you are preaching ethics? Curious.
The 19th century in USA had almost no gov't involvement at all, the taxes were sales, and under 1.5%. No 'Great Depressions', Quality of Life increased relatively more in 19th century than in 20th. Sure, there were banks that collapsed, but nothing that affected economy as a whole. Only gov't can do that.
It's YOUR MONEY, you shouldn't have to pay it in taxes, it's up to you to take it and invest it into business thus ensuring your own financial future stability, it should not be on anybody else.
And talking about ethics, how about that SS money? Where is it? That's right. I am most ethical person, because I am against all wars and income tax and SS FUND WARS. That's right, Iraq and other wars took SS money not as a consequence, but as a goal.
@romanmir01 Except when your investment goes belly up. OOPS! There goes ALL of your retirement. The reason why SS is superior is because it isn't a fucking casino like the investment market.
@inademv What are you, blind? You have been already robbed of your SS 'investment'. Are you stupid? They already took your money and left with it. What are you arguing for? Who is benefiting from gov't ran SS programs? I prefer my OWN investments in my OWN business.
@romanmir01 SS is solvent for another 20 years @ 100% payout and 75% from then on for many decades more AS IT CURRENTLY STANDS. And what say you to those whose lot in life leaves them with nothing to invest toward a retirement throughout their entire life, huh? Shall they simply die in the streets? Your lack of actual empathy and cognition is pitiful and laughable at best. Maybe you should live in the real world before you try suggesting to those who DO live there how they should live.
@inademv SS is solvent ON PAPER. But there are only IOUS there.
There is no money in SS fund, it's completely stolen. The wars in Iraq and Afghanistan were started to steal the SS money, what is so hard to understand? It wasn't a consequence, it was the goal. The goal of the wars was to take the SS money.
Do you understand that IOUs do not equal CASH? this is ridiculous.
If gov't would actually STOP STEALING money with income taxes, people would have money to invest.
@romanmir01 What ironic about that is paper money as we know it today are in fact IOU's. It in reality has no value in it except for what we perceive it to value.
Cenk I almost felt bad for her =[
I think her heart dropped when you said you wanted to stick on that topic.
nfdmw 3 months ago
This was like a kid burning ants with a magnifying glass--she should be embarrassed.
tstruss912 9 months ago
Chenk you're the best!
Aesculapius100 1 year ago
What a homophobic bitch.
mistacramer 1 year ago
Bravo Turk!!!!!!!! An chore !!!!!!!!!!!!!
willforrhall 1 year ago
cooper...calm your shit ok? XD
bannanahammer1 1 year ago
wow... just wow...
total meltdown at 5:20
quickbane1 1 year ago
How many times did Rep. Cooper sigh in frustration during this interview? LOL!
rlazarr 1 year ago
Amazing!
bornthug213 1 year ago
Yesterday, I saw my neighbor doing his patriotic duty by burning his used car tires and Styrofoam. Then the america-hating firemen came and put it out. You see...just more of big government interfering in our lives. If I want to breathe in carcinogenic fumes then thats my right as an American.
Flailwielder 1 year ago 3
Honestly.. I find it funny that republicans are so blatantly arrogant, they believe they can spew the same typical BS talking points to EVERYONE, not just the people who follow them. Intelligent people, and lets be honest, Cenk is intelligent, call them out on their BS.. and they have ABSOLUTELY NO facts to backup their statements. They get their talking points, but no facts, statistics or truthful statements to back them up.
freelandwhippet 1 year ago 2
Palin wannabee. I can't believe people really look up that that, thing.
philateliceun 1 year ago
She completes doesn't understand the issues and/or she's bought and paid for by the special interest. This lady is on the wrong side.
Mplay1983 1 year ago
derp derp goverment derp derp gay government derp
DrakeIcn 1 year ago
This was fucking great
rej3kted 1 year ago
"one of my best friends are gay" bwahahahaha!
tehKap0w 1 year ago 7
I can see why this lady in in politics but wow she is off base.
inquiry10 1 year ago
Cenk the only good point I think she made is that you never had a seat in office liker her...Cenk for prez!
icemanguitar 1 year ago
lol this is pitiful Cooper ur ____
icemanguitar 1 year ago
Rep Cooper wants further deregulation...she clearly doesn't understand what derivative trading is, how it works, and why its so fucken bad!! Not all derivaties are bad, however OTC or Over the Counter Derivatives, take place in private between the two parties interested. Since its in private, they don't go through an exchange, thus no paper work or paper trails. THAT'S THE PROBLEM. They trade basically, in secret. You don't know what's being traded, how much is lost, and how big the debt is
Roeshamboe05 1 year ago
@Roeshamboe05 And its not the average Joe Shome trading 100 dollars here 100 dollars there. its our banks, the banks our direct deposit paychecks every weeks go to. THEY'RE the ones making these secret OTC trades, and not reporting exactly how much is being lost, how much debt they have total! So they say they have a million dollars of our direct deposit money in their bank, but really they could have lost it all times 10 through OTC derivatives and are lying.
Roeshamboe05 1 year ago
Sharon Cooper LOST HER SHIT. This is journalism. I bet she regrets this.
mediadrone01 1 year ago 31
@mediadrone01 lol "Lost her shit" is about the right way of putting it.
niemanickurwa 5 months ago
THIS is the cenk I love. Brother, you're so much better when you don't get worked up and loud. How awkward was that smackdown about the gay comment?! Elbow from the sky. Cenk, you're ON. This interview rocks.
mediadrone01 1 year ago 30
God that was like shooting fish in a barrel.
decembersky1987 1 year ago
It was the government go-ahead were they said, "Heeeey... Go ahead"...
Awesome line, lady.
dEdGrimley 1 year ago
The old demented bat can't even put on her lipstick properly, shes missing like 1/5th of it on the right side of her lips.
2edsajdmsa 1 year ago
@2edsajdmsa never thought I'd say it, but I enjoyed watching an old lady get drilled
2edsajdmsa 1 year ago
This went better than I expected, great job Cenk.
GDhsfsvgful 1 year ago
God help us all...and I live in this state. Her logic is so slipshod & half-baked. It was a Republican/conservative congress and a Democratic-centrist President(Clinton) who destroyed the depression era Glass-Stegall Act that would've prevented this wild gambling with America's treasury.
willia3r 1 year ago
Hahahahah I love how Cenk spoke to her like a child. 'Now let me tell you what's really happening" - then man.
geniuswondergirl 1 year ago
"You're telling me the bankers didn't want to make billions of dollars?" Cenk is so fucking clueless it's unbelievable. Someone, please explain to me how a loan with NEGATIVE VALUE turns into "billions of dollars." Anyone? Hmm? I am going to pay money to take a toxic loan off your hands? Not in a billion years. The REASON people bought these loans was BECAUSE they were government-backed. NO OTHER REASON.
twk373 1 year ago
@twk373 Risky loans and derivatives trading are separate issues. Toxic loans undoubtedly added to the problem, and I'm conceding that to you in the argument. But that's not what brought on the recession. The risky and unethical betting going on behind the scenes did. You take away regulation, they will DEFINITELY keep doing it. You know how I know? Because they're doing it right now. Stop being so damn thick and realize this is a multi-layered issue and you need to look at all sides.
SunEyes27 1 year ago
@SunEyes27
No, it's really all the same issue. Why? Where did they get the money to bet on credit default swaps? The same place they got the money to make bad loans. From government guarantees and the Federal Reserve.
Look, if Wall Street actually had to gamble with its OWN money, they obviously wouldn't gamble, because GAMBLING LOSES MONEY. Are there any leftists who understand this? GAMBLING LOSES MONEY. Except when the government is handing you free money to gamble with.
twk373 1 year ago
No, Cenk, "sanctioning" means "sanctioning." Not "deregulation." Again with the bullshit about banks WANTING to make loans that lose money. Sorry, banks want to MAKE money, not lose money. The banks made the loans because the government TOLD them, "It's okay--we've got your back. Just get people in houses, no matter what it takes." Get your facts straight, Cenk.
twk373 1 year ago
"They made tremendous money flipping the mortgages." Again with the usual bullshit, Cenk? Why the fuck is anyone going to buy a mortgage that you KNOW is going to default? Who the hell is going to pay money to lose money? The only reason the banks could sell these ARMs was because Freddie and Fannie guaranteed them, so the buyers knew that the US taxpayers would be the ones eating the losses.
twk373 1 year ago
Once gain, Cenk, FUCK you. OMG. Using political clout to benefit your lover is a fucking conflict of interest. But you are apparently too fucking brain-dead to see this.
twk373 1 year ago
And Cenk goes off on his, "let them take whatever risks they want!" nonsense. The only reason the banks take risks is BECAUSE those risks are backed by the government, thanks to regulations. If there were no regulations, the banks would have to eat their own losses, and so they wouldn't take risks! This not rocket science.
twk373 1 year ago
@twk373
It definitely isn't as simple as you try and make it sound, either :/
Sirhcay1 1 year ago
@Sirhcay1
Of course it's more complicated. But leftists are so embarrassingly clueless when it comes to economics that you have to keep things as simple as possible. For example, I love Cenk's concept of "deregulation." The government tells banks they CAN do something stupid, because the government has their back. What never occurs to lefties is that banks ONLY CAN behave stupidly IF the government has their back. Remove all regulations and all guarantees, and banks would be very safe.
twk373 1 year ago
@twk373 You mean:
"The banks LOBBY the Government to get the guarantees so that they can take more risk".
AlexxxCat 1 year ago
@AlexxxCat
And, of course, it's the banks fault that politicians/regulators cave in and give them those guarantees.
twk373 1 year ago
@twk373 You need two to dance. The dance of corruption has two dancers: corrupter and corrupted. If banks didn't lobby, the politicians/regulators wouldn't have nobody to cave in, therefore it's also their fault. Unless you expect politicians/regulators to be saints...
AlexxxCat 1 year ago
@AlexxxCat
If the politicians didn't have the power to grant favors, the banks wouldn't lobby. You just said you don't trust politicians, so why give them the ability to dance?
twk373 1 year ago
@twk373 The politicians have powers the citizens give them, they should be wise and use it properly. I didn't say I don't trust them, I said they are not saints. Bankers are far from being saints too. I would prefer to not let bankers dance, because bankers represent banks and politicians represent the people.
AlexxxCat 1 year ago
@AlexxxCat
First, bankers are people too. Why should you be denied certain rights just because you're a banker? Anyone should be free to lobby congress, if they want to. It's in the constitution.
Second, the difference between bankers and politicians is that bankers can't force you to do anything. Politicians can. If the bankers behave fraudulently, the politicians can stop them. But when the politicians commit fraud, you're just out of luck. Better to limit the politicians.
twk373 1 year ago
@twk373 You lost me in your first paragraph.
Side with those you care about.
AlexxxCat 1 year ago
@twk373 Although I understand your point about guarantees giving banks too much security to the point they'd risk more money, the other alternative would be to not guarantee people's money and be at risk of the banks robbing us for real.
SunEyes27 1 year ago
@SunEyes27
Why would a bank rob its depositors, when this is illegal under fraud laws, and means the bank would never again be trusted and thus lose all of its customers?
If the bank system were free, banks would compete over how safe their investment portfolio was, as well as their interest rates; the system would be much safer.
Also, without the FDIC, you would be able to buy competitively-priced private deposit insurance, like you buy for your home or car.
twk373 1 year ago
@twk373Then you throw in deregulation in the argument as if it's the same argument and provide no proof for what you're saying. You're ridiculing all left-leaning people and yet you don't have a damn clue what you're talking about. You really think that, left to their own devices, banks would choose to not make billions of dollars. You're an idiot.
SunEyes27 1 year ago
@SunEyes27
If you are going to repeat Cenk's bullshit, please explain to me how loans with negative value are going to make ANY money for a bank, let alone "billions" of dollars? Who is going to buy something that has negative value?
I ridicule all leftists partly because they've been hoodwinked into thinking that the prime cause of the financial crisis was the banks. But mainly because they support the limitless expansion of government power/spending.
twk373 1 year ago
Cenk! The bailouts are symptomatic of a greater issue: government intrusion into the markets. Leftists see regulations as "hurting" the megacorps, while the bailouts "helped" them. But the Tea Party doesn't care about hurting or helping Wall Street or any other market sector--the Tea Party just wants the government OUT. This isn't that complicated.
twk373 1 year ago
Umm, well I would disagree with you...
At least she's falsely polite!
aaronsande 1 year ago
Thank you Cenk for not being a coward! Thank you for not lwtting their words just slip by like so many do. You are THE ONLY ONE WHO CALLS THESE SCUM=BAGS ON THEIR INSANE WORDS! THANK YOU CENK! GO GET'EM
hunterswine 1 year ago
@MangaMoogleMan I had no problem with the ice cream truck, guantanamo bay whatever. The points made were still there in the movie.
Even if you find those theatrics "unforgivable" to whatever consistent high standard you keep. Really? See these persons who raised their nose at Moore and then see the kind of watered down shit the same people digest on the tv for hours every day without problem.
Even if he is hit and miss with his points he does stirs up a good discussion.
CognosSquare 1 year ago
@MangaMoogleMan I dont he has done that. People have found faults with his movies. No shit. But most of what he portrays in the movies makes sense to people.
Healthcare is tough, Gun culture in USA is ridiculous.
CognosSquare 1 year ago
What really gets me is that Rep. Cooper's line of "reasoning" resonates with so many people. It is illogic. When you start saying things like "we're both probably right", you know her argument has gone south and she knows it. Politicians do not know how to admit they are wrong...kind of like that Barney Frank "quip" she tried to worm out of after she said that reflexively.
MarkRosengarten 1 year ago
Typical Republican... Not a clue what they are talking about.
nek0s 1 year ago
The free market and deregulation is not what killed the economy. Bush more than doubled the size of government, we eliminated the risk the banks took when we bailed them out. That is not free market. The government subsidizes almost every industry now, they set the interest rates, they inflate the currency and they spread the wealth to private corps. None of those are characteristics of a free and deregulated market.
ShatterNWO 1 year ago
AWESOME JOB CENK!!! I loved every second of this debate, and you just overwhelmed her! I love how you kept your cool when she was spouting off bullshit talking points and gay bashing Barney Frank. Way to hold her feet to the fire on all the crap she was spewing. She tried to get you off track and agitated and you just kept icy cold and on track. So fucking awesome! When will you run for office already Cenk?!
DirtFlyer 1 year ago
Yeah we both know why you brought it up, because Cenk is race-baited every penny he can get. It was an example about conflict of interest. What an idiot.
b07rivera 1 year ago
I'm pretty sure that she was about 30% of the way toward actually changing her opinion and agreeing with Cenk at the end there.
She literally had nothing, and she had to fall back on "we're both right" and "where to draw the line" when she had started off balls to the wall with her pro-deregulation talking points.
velocity679 1 year ago
She is insane.
thesparitan 1 year ago 7
palin/cooper 2012!!!
largegrainsofsalt 1 year ago
@largegrainsofsalt thats a winning ticket, for Obama.
thesparitan 1 year ago
that was devastating. one of the best debates i've seen .
i feel a little bad for the woman, though. i can tell she's probably a good person, but her head's been filled with so much nonsense that she couldn't respond to lucid facts.
kickin' ass, cenk
SunEyes27 1 year ago 2
ROFLMFAO!!! Cenk you must become OFFICAL AMERICAN INTERVIEWER! lol
FendenKrell 1 year ago
I understand the Republicans concern for economic growth, but at what cost.... exploitation of your workers, unsafe products, national economic collapse because of high risk ventures. I'll pass Capitalism alienates us from the world. We've become far too greedy. William Penn one of our true founding fathers warned us about greed.
Indensity 1 year ago
She has the token gay friend...
AndrewMatt16 1 year ago 12
@AndrewMatt16 token black too, just in case,
thesparitan 1 year ago
@AndrewMatt16 Can't believe she walked RIGHT into that one!
Wait...no...I CAN believe it. LOL
aaronsande 1 year ago
They both just dont get it Glass Steagall under clinton was only repealed half way so deposit banks could become investment banks but they did not repeal deposit insurance which is retarded Obviously if you say the banks can do what every they want like Bush/Obama are doing but back everything up with the FDIC its a disaster with the bail outs BUT If deposit insurance was repealed as well then the banks would have the fear of bankruptcy and no 2nd chance via taxpayers
iamsean90 1 year ago
that lady is dumb
KnightVisionTV1 1 year ago
The original tea party was Ron Paul supporters they raised over 6+ million for him in one day on the 07 aniversary look it up
iamsean90 1 year ago
you know if this lady actually uses her brain she could be force but she would rather be tool at least she didn't hang up on him so it shows she has patiants.
hollywoodjokerpicalo 1 year ago
She was attempting to claim Frank's lover was involved with Fannie and/or Freddie, would be nice to see some evidence.
cappastrano 1 year ago
Not a single TYT viewer will buy that book.
Zeldarulah 1 year ago
that bitch is full of shit, she had her ass handed to her and yet she decided to look the other way and pretend to not see the truth, either that or she is completely retarded
crazzynez 1 year ago
Man, that was brutal...lol
twilite142 1 year ago
She got owwwneed. Nice on Cenk, give it to 'em!
passionforpolitics 1 year ago
That made my day
Jaywed 1 year ago
It's called Credit Default Swaps and Derivatives..dumb bitch, the CRA was not designed to create bad loans it was the complete opposite. Banks were redlining and borrowing too much money because of leverage while complaining about not being able to liquidate their homes. Go ahead and repeat mindless talking points dumb broad. Keep beating ass CENK!!
beatsbytheory 1 year ago
I don't want them to rob us, I just want to give them all the tools to do so and pretend that they don't want to make money.
Asadawa 1 year ago
Can't tell if this woman is actually this stupid, or just full of shit...
fuckisnotadirtyword 1 year ago
god he wiped the floor with her
nailo1 1 year ago
What so funny about this issue is that if this lady only knew what regulation/ deregulation was, she would be on Cents side.
whatdoyouwantandwhy 1 year ago
As much as i hate her every moral fiber, She seems nice. It sounds like cenk talking politics with the driver of my city bus.
bunkmasterflex 1 year ago
OF CAUSE THEY SCARE THEY FUCK EVERYBODY AND NOW THEY WANNA LOOK LIKE THEY DO THEIR JOB RIGHT !! FUCK THEM AND FUCK REPUBLICAN !!
masterworler 1 year ago
Cenk looked bored at the end of it ... like.. not a real fight..
rheographics 1 year ago
That old lady is crazy and very very ignorant. I dont get how these monkeys are getting elected to run and control America. There's evil everywhere, there's terrorists and extremists but still America is destroying it self from the inside.
horuseyes 1 year ago 2
@horuseyes
There are a lot of people who think like this old lady. These folks are police officers, truck drivers, electricians, store owners & any other occupation that is quintessential working/middle class american.
Unfortunately these people to which I speak of are less likely & disinclined to research independent news or data on the internet....if they even use the net @ all. More often these hardworking Americans have only enuf energy to maybe watch the T.V. or listen to radio.
willia3r 1 year ago
ouch that hurts... I guess she will not be advertising too much this interview
Melpheos1er 1 year ago
This woman is full of shit. The Healthcare reform law does NOT give the government control of yer medical care.
ReverendAnimal01 1 year ago
Government regulating banks and big business is not "government interfering with our lives"! It is government doing it's fucking job, and protecting the people from predatory business practices.
ReverendAnimal01 1 year ago
I think they got to the heart of it here. Michael Moore needs to do another big movie called "This is how the tea party will fuck you up".
CognosSquare 1 year ago 2
welcome to the young turks, be sure to pick up you ass when you leave, it will be handed to you at the door.
burb72 1 year ago 23
C3enk is so polite... he realizes that this lady is is so out of touch with what's going on she is so bought into her talking points she can't think straight... I WAS going to say becaue she's stupid but i don't think thgat's the case I just think sh's ignorant.
upplsuckimcool16 1 year ago
the best thing is when cenk hammers her on her talking points and tries to make her clarify them and SHE CAN'T. because she's EMPTY she has NOTHING! just talking points, empty words no knowledge, no morals, no plan. nothing!
kingbane2 1 year ago 14
Hah! She didn't think Cenk would call her out on her gay-bashing bullshit, her loan bullshit, her regulation bullshit, but he's smarter then the scripted mother's at CNN and NBC.
Hah! She actually thought she was smarter than him because "well I'm a legislator so I know this".
LiBlub1 1 year ago
Do I understand this correctly? Her entire argument is to allow the government to allow the banks to run rampant; but I thought that she said that is the part of the problem. Since when was a bank afraid to make money; they always have ways to make money they pay people good money to sit around and invent new ways to make money this lady is in their pocket.
ukendcx2000 1 year ago
Just shows, once again, how muddled the tea party message is.
MaryJesusJoseph 1 year ago
Her arguments were too emotional. I think she was doing okay until she brought up Barney Frank's homosexuality, which is a moot point.
ukendcx2000 1 year ago
@ukendcx2000
IT wasn't his Homosexuality, it was his lover who was an executive at fannie may
KarateKidX 1 year ago
@KarateKidX Does that make it any better though?
ukendcx2000 1 year ago
@ukendcx2000 Yes, It it nothing homophobic at all, in-fact she was bringing up Barney Frank's conflict of interest
KarateKidX 1 year ago
Wow, Cenk found a real gem here. A Republican who spouts pure talking points, but has no obfuscation skills, making them extremely easy to knock down. She's so transparently dumb she doesn't realize that saying "we should have left the banks alone" is arguing to KEEP THE LAWS IN PLACE AND NOT DEREGULATE LIKE MAD MEN. Again, this just reinforces the Republican spectrum: they're either evil pricks or shithouse dumb.
blankportraits 1 year ago
Nevermind that his opponent is a nut with substance-free arguments, I really don't like Cenk as a debater, he always takes over and makes the debate one-sided.
tempo3rd 1 year ago
@tempo3rd
I hardly think you dislike Cenk for the reason you stated.
I think you don't like the fact there is a progressive/liberal like Cenk who can coherently & in a plainspoken manner explain why 90% of the so-called belief systems & cultural worldviews that corporatist fundamentalist Christian Conservatives believe in are complete & utter bullstank.
The fact that he does it with passion, well-thought out arguments and with style probably irks you even more.
willia3r 1 year ago
@willia3r ...Um, no, you completely misjudged me. I agree with almost all of the views expressed by Cenk and on The Young Turks in general. I think it's a pretty good news show, but it's more entertaining than informative, and Cenk isn't a very good host. Sorry if I hurt your feelings by daring to criticize your idol, but some of us can actually distinguish between holding correct beliefs and practicing good journalism. (Hint: they are different!)
tempo3rd 1 year ago
@tempo3rd
Classic political debating sidestep: "I believe most if not all of your opinions but..."
You're not hurting my feelings, guy. You made a statement and I disgreed with your statement. It's just that simple.
Peace.
willia3r 1 year ago
@willia3r ...again, NO, I wasn't sidestepping anything. I explained that I agree with cenk on most things BECAUSE of what YOU said: "I think you don't like the fact there is a progressive/liberal like Cenk..." I wasn't sidestepping, I was responding to your criticism. You sound like a reasonable guy, willia3r, but you're a bit trigger-happy with debate lingo. Don't try to dismiss what people say based on a shallow judgement, try listening!
tempo3rd 1 year ago
This lady just talked herself into the ground.
hochdaddy 1 year ago
Good talk. You really had her flustered their for a while, Cenk.
Phloid82 1 year ago
I'll bet Cooper thinks Obama was responsible for the TARP bailout.
inademv 1 year ago
Nice one Cenk.
Staying calm works better for you.
I thought she was gonna start cryin for a minute there
265jimbo 1 year ago 5
I think that was the largest destruction of a conservative I have ever seen by Cenk or anyone. That was incredibly brutal.
djb12030 1 year ago
Oh no.... did she just use the "some of my best friends are...." defense? Wow. Not only does she not have any facts she used the classic bigot's defense. So do we really want people like her running this country? Unfortunately the answer is probably going to be yes in November. These people keep screaming how bad government is, when they ARE THE GOVERNMENT!
doctender77 1 year ago
They have one fall back when cornered about the deregulation. And they all use it. BARNEY FRANK FANNIE MAY FREDDY MAC! BARNEY FRANK BARNEY FRANK! BARNEY BARNEY BARNEY FRANK FRANK FRANK!
Yes, Frank is an idiot. No, he's not completely responsible for the situation we find ourselves in. He had a lot of help from both other Democrats and especially the Republicans.
DashCat9 1 year ago
@DashCat9 I think almost all of us understand that the democrats are entirely culpable in this mess. I mean, how many times do people have to acknowledge that Barney Frank and others played a role, until you are purposefully obfuscating to cover up the real villains, which are a few democrats, most of the republican party, the bankers, president's Clinton and Bush, treasury secretaries, CEOs, etcetera, etcetera. There's so much blame to go around.
Staticnz 1 year ago
@Staticnz That's my point exactly. I was just saying that every single republican immediately tries to lay all of the blame on Barney Frank every single time that deregulation comes up. Their response is invariably "Yeah...but you know...Barney Frank".
DashCat9 1 year ago
Just finally, I think that these rigid ideologies are the problem. There isn't a 'government good' 'market bad', or 'government bad' 'market good' that is the solution to the world's issues.
Too much government is bad. So is too little. Free markets with no regulations build wealth, but none of it gets to the people and it leads to horrible conditions.
Political system matters too...freedom of speech, economic opportunities for middle class...political freedom...
It's COMPLICATED.
Staticnz 1 year ago
@Staticnz Very well said.
blankportraits 1 year ago
I seriously don't think that Rep. Sharon Cooper actually understood that deregulation means stripping away rules of legally acceptable conduct by financial institutions. She has no firm grasp of vital facts, but her overwhelming arrogance isn't allowing her to admit that she might be wrong on the issue. Imagine if doctors were allowed to practice while being this ill informed.
blackacadian 1 year ago
BTW, she was right about Barney Frank. Obviously, not the mentioning of his lover part but in regards to him cutting back room deals and being an Uncle Tom for those corporations she was spot on.
Jay20782 1 year ago
I don't think she would dare come n TYT again.
AtheistGlitch 1 year ago
Cenk is exactly the kind of journalist we need in this country!
Jay20782 1 year ago 3
Cenk I'm totally on your side but.
Barney Frank's involvement with someone running Sallie Mae could be something worth thinking about. But Sallie Mae was into student debt not mortgage debt so it's probably a red herring. But you totally missed the conflict of interest argument she was making.
Also Fannie and Freddie gave credit insurance for home loans. That's what she was saying and that's relevant. It's problematic but not deregulation. Please brush up.
mert1264 1 year ago
@mert1264 Cenk knows how corrupt Barney Frank is and has talked about it in the past. It's just that in this issue, there is much more to this than Barney Frank and to label him some sort of red herring is absurd.
blankportraits 1 year ago
Cenk is 100% WRONG.
The reason that banks were able to profit was simple: gov't provided Free Money and Moral Hazard by creating Freddie and Fannie, who stamped any piece of shit mortgage that could be sold, and as long as there was a gov't guarantee stamp on that mortgage, it could be repackaged and sold to anybody else, and it was all good, because gov't GUARANTEED IT.
Cenk is stupid, but this Cooper chick is not aware of the issues here either.
romanmir01 1 year ago
@romanmir01
The reason banks are 'sitting on the money' is because they are NOT sitting on the money.
They are lending the money.
Back to the gov't by buying t-bills, and because they are getting the cash from the Fed at 0%, they make the spread. Cenk and this Cooper are both dumbasses.
romanmir01 1 year ago
@romanmir01 Cooper is useless, she cannot produce a coherent argument because she is not an economist.
Cenk is stupid about economics, so that's about it.
Here is what you want to see, from 2006, Peter Schiff predicting the bubble bursting in housing and explaining WHY:
watch?v=jj8rMwdQf6k&feature=channel
romanmir01 1 year ago
@romanmir01
And here is Schiff debating a 'professor' Epstein at university of Columbia and completely owning him on the entire bubble/spending/taxing/regulations/economy/collapse, etc....
watch?v=zM23TZxzOw8
romanmir01 1 year ago
@romanmir01 I mean you don't find it somewhat disturbing that without the most stringent of rules and limitations these organisations will go to the greatest extremes of financial abuse, manipulation and embezzlement? Sure, the GOVERNMENT made them so GREEDY, didn't it?
You can't just blame government for everything. Blaming government certainly has its place and I blame it for many many things, but libertarian types blame it arbitrarily due to rigid dogma.
Staticnz 1 year ago
@Staticnz GOVERNMENT GAVE THEM THE TOOLS TO USE WITH THEIR GREED.
WIthout gov't tools: gov't creating the giant monopolies, creating moral hazard of insuring deposits with FDIC, setting low interest rates, moving away from gold in 1972, subsidizing these monopolies, while creating regulations that killed off any small competitors and taxing the income of small businesses so they can't compete. Yeah, that's govt'.
romanmir01 1 year ago
@romanmir01 so government government government and once again you let off anyone that does anything wrong so long as they are described as 'private'.
I have a theory that libertarian would love to be enslaved, so long as the folks doing the enslavements were part of some private corporation that had nothing to do with the government. That already happens too, it is called health insurance.
But no, everything anyone ever does is because the government made them do it. They are just innocent.
Staticnz 1 year ago
@Staticnz that's just stupid. Nobody in private can enslave you as much as collectively enslave you. USSR, China, Cuba, North Korea, that's maximum gov't security.
People can handle BUSINESS and gov't can handle JUSTICE and MILITARY.
Fuck off.
romanmir01 1 year ago
@romanmir01 no you fuck off. Go move to Somalia. Why don't go rub the oil spill on yourself. Why don't you go hang out in Botswana land and glug some off the Shell pipe line or partake in some child prostitution in Calcutta. Of course all that shit is the government's fault somehow, of course.
You think it is the government's fault that mercenaries working for Blackwater maim civilians in Iraq? I mean, it is the government's fault for HIRING them, so Blackwater is just INNOCENT right?
Staticnz 1 year ago
@Staticnz As I said, fuck you, fuck your useless arguments together with you, fuck all of your false arguments, which are all giant failures and fallacies.
romanmir01 1 year ago
@romanmir01 and government dictatorships are bad, wow, great news.
I'd still prefer to live in Sweden, Norway, the Netherlands, Denmark, Finland, Canada, or Germany, and they are these so called SOCIALIST UTOPIAS that kick your ass in education, health care, wealth development, economic stability and a wealth of other indicators!
Staticnz 1 year ago
@Staticnz I am Canadian, born in the USSR, currently living in Switzerland and spending time in Baden Baden, Germany right at this moment (where I am typing this).
You have no idea what the hell you are talking about.
Canada has a pathetic health care system, the economy is losing it's production because of development of natural resources. Most of Europe except Germany and Switzerland is fucked. Both Switzerland and Germany have HIGH SAVINGS, and Swiss have no income tax, that's why I'm here
romanmir01 1 year ago
@romanmir01 Right, no one in the private sector can enslave you. I have a fun exercise for you, look up the word "monopoly", and then apply that concept to an industry vital to human life in the modern world, i.e. health insurance.
blankportraits 1 year ago
@blankportraits Yet, before Nixon destroyed the real private sector health care in USA it was possible to get health care insurance for a family of 4 for $25/year *(YEAR) with $500 deductible covering up to 50K/year, which was enough for 2.5 full year of cancer treatment back then (cost 20K).
Nixon got gov't involved, created the monopolies and killed competition, and now you are complaining about that as if that was actual market doing it?
Learn, you need to learn.
romanmir01 1 year ago
@romanmir01 It is useless arguing with you. You will never acknowledge that things like price gouging, anti-trust exemptions, "pre-existing conditions" are there because they are ALLOWED to be there, a.k.a the government has STEPPED OUT of the way. I will leave you to cling to your dogma in the face of crushing empirical data. Good luck wising up some day.
blankportraits 1 year ago
@blankportraits Here is what you are blind to: the 19th century provided a more relative increase of quality of life than 20th had, and it was free of any so called 'Great Depressions', though it had its share of recessions, which lasted between 6 month to a couple of years, but majority of people at that time didn't even notice them.
The only criteria that's important is this: what happened to economy in general.
In general a freer economy worked better.
romanmir01 1 year ago
Comment removed
kileer71 1 year ago
@romanmir01 Hey I have an idea, let's make the time frame more current and thus more applicable to modern society! After FDR's New Deal that consisted of new regulations and higher taxes on the rich, we had about 3 straight decades of economic growth. In the 3 decades since Ronald Reagan began deregulating corporate America we have essentially recreated pre-Depression conditions, Wall Street has become a casino, and would you know it, we had another gigantic crash!
blankportraits 1 year ago
@blankportraits FDRs new deal caused the depression to get worse. Was there no WWII, which caused an entire generation of people to come home after war with very little training/schooling, there wouldn't have been a boom in the USA, which also was helped by the fact that the rest of the world was in ruin and USA has escaped the ruin completely, not counting paying for the war bonds and a bunch of dead people, but infrastructure was standing and untouched.
romanmir01 1 year ago
@romanmir01 Actually the New Deal started pulling us out of the depression in 1939. If you look at the unemployment rate in the USA, you will see that Unemployment jumped down drastically in 1938-39.
deathVANQUISHED 1 year ago 3
@deathVANQUISHED Except that anything that gov't provides as jobs is unproductive and prevents creation of actual productive jobs.
But no worries, you'll have your gov't job. You'll be paid in gov't money too. Too bad that the negative 60 billion/month trade deficit will mean your money will mean nothing, because interest rates and lack of credit/imports will mean your money will buy nothing.
romanmir01 1 year ago
@blankportraits Japan rebuilt, USSR failed, China opened its labor market, USA became uncompetitive with all its government involvement.
Gov't is a disease, it kills competitiveness of the market, kills competition, creates monopolies. Don't tell me 19th century is not applicable, it's perfectly applicable. It had huge growth, movement from agrarian to industrial economy, just like 20th century had move to information from industrial.
It's all applicable. Wall st. drunk Gov't provided booze.
romanmir01 1 year ago
@romanmir01 if you want to be a cunt then I'll just say fuck you too and leave it at that. Can't be bothered debating with you. I'll find someone who isn't a knob gobbler to talk to.
Staticnz 1 year ago
@romanmir01 I think Cenk would acknowledge Freddie and Fannie played a role, but the mortgage crisis is not the only aspect...there was the speculative gambling going on on wall street...Goldman Sachs, AIG, CitiBank...and it is kind of irresponsible to just flat out ignore the role that private industry had in this. These industries are corrupt. It isn't JUST government or JUST private groups, it is BOTH.
Schiff and co. have the braindead mantra that private always = good.
Staticnz 1 year ago
@Staticnz Schiff has a brain dead mantra? They guy who wrote the book on the crash explaining in detail how it's going to happen? The guy who has created a private business that made money for near 15 years except for 2008 for all its customers? He is brain dead? OK.
All of the banks were gambling because the gov't created the moral hazard of FDIC, insuring your stupid deposits AND the gov't created the moral hazard of risk-free mortgages by creating Freddie/Fannie and lowered interest rates.
romanmir01 1 year ago
@romanmir01 I said he has a brain dead free market mantra. He believes that without regulation private industry does the right thing. When there is no regulation a country turns into Somalia, or Nigeria, where great wealth and expansion is created by companies, and yet workers are treated poorly and they live in squalor and poverty.
I'm not taking issue with Schiff's predictions or savvy with the current system. I challenge his take on how his ideas impact the populations of the world.
Staticnz 1 year ago
@Staticnz He actually understands how economy works, as opposed to the Keynesian idiots, who do not, thus he crushes a Keynesian idiot 'professor' of university watch?v=zM23TZxzOw8 in a debate clearly.
And he is not an anarchist or against gov't doing SOME THINGS RIGHT.
That's right, look up what Minarchist means, it has a place for gov't:
1. Justice system.
2. Minimum military for protection.
3. Cops/prisons.
Everything else is better done in private, PEOPLE CAN DO BETTER THAN GOV'T.
romanmir01 1 year ago
@romanmir01 once again I'm not taking issue with Schiff's economic theories, I'm taking issue with the ethics of his theories, which are just screaming to be abused. I find it funny that you are so insanely adamant about government never doing anything that would allow greed in private industry, but the kinds of ideas that Schiff calls for, such as de-regulation, crazy tax cuts and privitisation of everything, is a sure fire recipe for all kinds of abuse.
Staticnz 1 year ago
@Staticnz You are complaining about ethics of a system where there is no gov't actor, who dismantles the economy by it's power of violence and you are preaching ethics? Curious.
The 19th century in USA had almost no gov't involvement at all, the taxes were sales, and under 1.5%. No 'Great Depressions', Quality of Life increased relatively more in 19th century than in 20th. Sure, there were banks that collapsed, but nothing that affected economy as a whole. Only gov't can do that.
romanmir01 1 year ago
@romanmir01 what about social programs? Benefits? Social security?
You think private industry can do those things better? I'm afraid if you think that there is no way you aren't kind of nuts.
I guess you could also think those things aren't necessary, and that people who take part in them are just leeches or greedy.
Well in that case I would also see you as somewhat of a cynical anti-humanist that advocates a rather fascist point of view.
Staticnz 1 year ago
@Staticnz SS shouldn't even exist.
It's YOUR MONEY, you shouldn't have to pay it in taxes, it's up to you to take it and invest it into business thus ensuring your own financial future stability, it should not be on anybody else.
And talking about ethics, how about that SS money? Where is it? That's right. I am most ethical person, because I am against all wars and income tax and SS FUND WARS. That's right, Iraq and other wars took SS money not as a consequence, but as a goal.
romanmir01 1 year ago
@romanmir01 Except when your investment goes belly up. OOPS! There goes ALL of your retirement. The reason why SS is superior is because it isn't a fucking casino like the investment market.
inademv 1 year ago
@inademv What are you, blind? You have been already robbed of your SS 'investment'. Are you stupid? They already took your money and left with it. What are you arguing for? Who is benefiting from gov't ran SS programs? I prefer my OWN investments in my OWN business.
romanmir01 1 year ago
Nobody cares what you prefer.
pbmdh 1 year ago
@pbmdh excellent, and I don't care about what others prefer, thus I keep a 5 flag policy. If you care to learn what it is, look it up.
romanmir01 1 year ago
@romanmir01 SS is solvent for another 20 years @ 100% payout and 75% from then on for many decades more AS IT CURRENTLY STANDS. And what say you to those whose lot in life leaves them with nothing to invest toward a retirement throughout their entire life, huh? Shall they simply die in the streets? Your lack of actual empathy and cognition is pitiful and laughable at best. Maybe you should live in the real world before you try suggesting to those who DO live there how they should live.
inademv 1 year ago
@inademv SS is solvent ON PAPER. But there are only IOUS there.
There is no money in SS fund, it's completely stolen. The wars in Iraq and Afghanistan were started to steal the SS money, what is so hard to understand? It wasn't a consequence, it was the goal. The goal of the wars was to take the SS money.
Do you understand that IOUs do not equal CASH? this is ridiculous.
If gov't would actually STOP STEALING money with income taxes, people would have money to invest.
romanmir01 1 year ago
@romanmir01 What ironic about that is paper money as we know it today are in fact IOU's. It in reality has no value in it except for what we perceive it to value.
whatdoyouwantandwhy 1 year ago