Yeah? I don't live in NC, but I wonder when politicians will start sharing the misery: cut your government pay & pension, and use the same medical insurance the rest of us have to use; live in a modest home with modest furnishings & a modest car; maintain your integrity "no matter what"; and hold your fellow government workers accountable to do their jobs.
Sounds to me like you're spewing the same old b.s. It doesn't sound to me like you know what's really going on!
This is not government abuse unless you are talking about neglecting an enormous problem. Wall Street is to blame and you have to be in serious denial or some free market robot to not see that.
This is the result of government abuses. This started with Jimmy Carter signing into law in 77 the community reinvestment act, which forced banks to give loans to people who could not afford them. Wall Street was forced to do this. Deregulation? The Fed forced theses banks to give these loans. More regulation will only prove destructive.
How could this happen in modern America? Living the legacy of Reaganomics. Decades of Republicans removing regulations and giving tax cuts to corporate America. Decades of Rep. declaring out right war on the middle class. The fulfillment of cheap labor conservatism. You want to keep this from happening again? Kick the Republican party out of Washington. Send the neo-cons home.
@tetsubo57 Hey buddy, this is because of Jimmy Carter signing the Community Reivestment Act in 77 which forced banks to hand out these loans. You fail
Wow, what an utter mix up of BS and actually decent points. It's bad that this guy lost his job due to the crash, there will be a huge amount of recovery time, to big to fail needs to end, and shareholders do need to actually have rights again, but expanding government and lowering credit standards will simply instigate another boom and bust cycle and it won't help anyone.
These abuses he speaks of are governmental abuses, not Wall Street Abuses. It was the Government who demanded that the Financial Institutions give bad loans to risky investors. There are laws on the books now to protect consumers, unfortunately, the government doesn't feel the need to abide by them.
Just remember... the U.S. Government is also, "Too Big To Fail."
@mebits That is simply not true. The government made no demands on financial institutions. The matter was studied jointly by the FED board of governors and the Brookings institution. Google it. Deregulation coupled with deceptive lending practices and Wall Street "innovation" caused the economic meltdown. It was also Wall Street that lobbied (bribed) the government to deregulate, practically writing the legislation.
@DojoNDude, I'm sorry, but you are wrong on many fronts. Firstly, the housing crisis is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. Google the 'Community Reinvestment Act' for yourself.
2nd, there are stringent laws and regulations in place already. It's overwhelming for the small businessman in many cases, prohibitive in most. It's the bastages that skirt the law that need to be tackled, not the regulations.
@mebits: I will repeat that the FED Board of Governors in cooperation with the Brookings Institution investigated the matter and found that CRA loans made up only a small percentage of sub-prime lending and did not relax underwriting standards. That means that the majority of sub-prime loans were opportunistic, predatory loans that were then turned into Wall Street instruments, given false triple A ratings and then sold to investors world-wide. Your just the mouthpiece for Wall Street fraud.
@DojoNDude: Do some real research. Find your own proof. Don't let some semi-liberal think tank turn you into a bobbleheaded yes man. Don't just repeat what the punditocracy tells you to ad nauseum. The truth is that the derivative instruments that were created were too complex for most investors and bankers, and the banks took on the debts without understanding the real risks. They didn't do their due diligence, but it didn't matter. The investments were GUARANTEED BY THE FEDERAL GOVERNMENT.
@mebits : What REAL research have you done? Name some sources that aren't fringy right-wing propaganda. Reality-deniers like you are confusing good Americans. Anybody following this thread google "CRA and the financial crises," or go to my page and watch the videos. Don't be spoon-fed lies by the likes of mebits. Also check news sources and factcheck. The Truth is Out There... and mebits doesn't want you to know it.
what you do not feed dies... focus on what you want and let the dinosaur of wall street---judges--lie (lawyers) the whole supposed fraud called legal system also--medical-insurance politicians--all dies if you do not feed it--with your focus and your money--trust your "self...
Lots of great suggestions here, but what about enforcing the law?
We have laws already on the books to protect consumers and shareholders and to provide oversight on financial institutions. Why can't we just enforce the existing laws and fire the people that led to the system's failure?
Cal is absolutely right. The financial system needs regulation - like every other industrialized nation on our planet. Restructuring the financial system is the key to creating jobs. Cal has my vote!
free up lending? thats the cause of all this....big government taxing the hell out of corporations to the point thats its not worth creating jobs here but better to send them overseas...and free up lending means giving morgages and loans to underqualified applicants...the cause of the financial meltdown....your lost......your another obam, same ideas, same mess...no solution....you want to fix things? cut the size of the government by 1/2..less taxes
@CyBeRTRoNFLuX Most corporations get out of paying so much in taxes it isn't funny. They're sending jobs overseas because slave labor is a lot cheaper than paying decent, livable pay to US workers. Arrogance and greed running wild. They don't owe their workers a damn thing, they don't owe the communities a damn thing, and they don't owe the country a damn thing. It's all take, take, and take, and they'll be damned if they're going to give anything back.
When will people realize that it is the rich who rule governments? IT'S THEIR TOOL, look up the "Iron Triangle", you aren't going to wield it against them. Goldman Sachs doesn't quake in it's boots when you elect leaders like Cal Cunningham. It laughs, gives "contributions" to the party Whip (Pelosi or Harry Reid), who in turn neuters him, and uses the money he apportions (from you) for its interests.
@VoiceOfReasonQQ He did do one thing, however..
He did sign health care reform into law, and while it wasn't as good as it could have been, it is a step in the right direction.
Ted Kennedy would have been proud.
foxh8er 1 year ago
Forget ending Wall St Abuses. Just end Wall St.
holycrapyousuck 1 year ago
Yeah? I don't live in NC, but I wonder when politicians will start sharing the misery: cut your government pay & pension, and use the same medical insurance the rest of us have to use; live in a modest home with modest furnishings & a modest car; maintain your integrity "no matter what"; and hold your fellow government workers accountable to do their jobs.
Sounds to me like you're spewing the same old b.s. It doesn't sound to me like you know what's really going on!
robrrash 1 year ago
This is not government abuse unless you are talking about neglecting an enormous problem. Wall Street is to blame and you have to be in serious denial or some free market robot to not see that.
lounetter 1 year ago
This is the result of government abuses. This started with Jimmy Carter signing into law in 77 the community reinvestment act, which forced banks to give loans to people who could not afford them. Wall Street was forced to do this. Deregulation? The Fed forced theses banks to give these loans. More regulation will only prove destructive.
LordoftheKaty 1 year ago
How could this happen in modern America? Living the legacy of Reaganomics. Decades of Republicans removing regulations and giving tax cuts to corporate America. Decades of Rep. declaring out right war on the middle class. The fulfillment of cheap labor conservatism. You want to keep this from happening again? Kick the Republican party out of Washington. Send the neo-cons home.
tetsubo57 1 year ago
@tetsubo57 Hey buddy, this is because of Jimmy Carter signing the Community Reivestment Act in 77 which forced banks to hand out these loans. You fail
LordoftheKaty 1 year ago
@LordoftheKaty So, the government MADE the banks give out sub-prime loans to people they KNEW couldn't pay for them? OK.
tetsubo57 1 year ago
@tetsubo57 Yeah. Research it.
LordoftheKaty 1 year ago
Comment removed
TheLateAndrewRyan 1 year ago
Wow, what an utter mix up of BS and actually decent points. It's bad that this guy lost his job due to the crash, there will be a huge amount of recovery time, to big to fail needs to end, and shareholders do need to actually have rights again, but expanding government and lowering credit standards will simply instigate another boom and bust cycle and it won't help anyone.
TheLateAndrewRyan 1 year ago
@TheLateAndrewRyan Good comment!
Steve83B 1 year ago
These abuses he speaks of are governmental abuses, not Wall Street Abuses. It was the Government who demanded that the Financial Institutions give bad loans to risky investors. There are laws on the books now to protect consumers, unfortunately, the government doesn't feel the need to abide by them.
Just remember... the U.S. Government is also, "Too Big To Fail."
mebits 1 year ago 3
@mebits That is simply not true. The government made no demands on financial institutions. The matter was studied jointly by the FED board of governors and the Brookings institution. Google it. Deregulation coupled with deceptive lending practices and Wall Street "innovation" caused the economic meltdown. It was also Wall Street that lobbied (bribed) the government to deregulate, practically writing the legislation.
DojoNDude 1 year ago
@DojoNDude, I'm sorry, but you are wrong on many fronts. Firstly, the housing crisis is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. Google the 'Community Reinvestment Act' for yourself.
2nd, there are stringent laws and regulations in place already. It's overwhelming for the small businessman in many cases, prohibitive in most. It's the bastages that skirt the law that need to be tackled, not the regulations.
mebits 1 year ago
@mebits: I will repeat that the FED Board of Governors in cooperation with the Brookings Institution investigated the matter and found that CRA loans made up only a small percentage of sub-prime lending and did not relax underwriting standards. That means that the majority of sub-prime loans were opportunistic, predatory loans that were then turned into Wall Street instruments, given false triple A ratings and then sold to investors world-wide. Your just the mouthpiece for Wall Street fraud.
DojoNDude 1 year ago
@DojoNDude: Do some real research. Find your own proof. Don't let some semi-liberal think tank turn you into a bobbleheaded yes man. Don't just repeat what the punditocracy tells you to ad nauseum. The truth is that the derivative instruments that were created were too complex for most investors and bankers, and the banks took on the debts without understanding the real risks. They didn't do their due diligence, but it didn't matter. The investments were GUARANTEED BY THE FEDERAL GOVERNMENT.
mebits 1 year ago
@mebits : What REAL research have you done? Name some sources that aren't fringy right-wing propaganda. Reality-deniers like you are confusing good Americans. Anybody following this thread google "CRA and the financial crises," or go to my page and watch the videos. Don't be spoon-fed lies by the likes of mebits. Also check news sources and factcheck. The Truth is Out There... and mebits doesn't want you to know it.
DojoNDude 1 year ago
@DojoNDude : I've read the bill. Have you?
mebits 1 year ago
Comment removed
mebits 1 year ago
this vid would not work--but just from the title
I invite youto do one thing:
stop fighting and judging
and STOP partaking
what you do not feed dies... focus on what you want and let the dinosaur of wall street---judges--lie (lawyers) the whole supposed fraud called legal system also--medical-insurance politicians--all dies if you do not feed it--with your focus and your money--trust your "self...
evelutionofone 1 year ago
Lots of great suggestions here, but what about enforcing the law?
We have laws already on the books to protect consumers and shareholders and to provide oversight on financial institutions. Why can't we just enforce the existing laws and fire the people that led to the system's failure?
infernalhammer 1 year ago
Cal is absolutely right. The financial system needs regulation - like every other industrialized nation on our planet. Restructuring the financial system is the key to creating jobs. Cal has my vote!
alchemistoxford 1 year ago
so your solution is bigger government?
free up lending? thats the cause of all this....big government taxing the hell out of corporations to the point thats its not worth creating jobs here but better to send them overseas...and free up lending means giving morgages and loans to underqualified applicants...the cause of the financial meltdown....your lost......your another obam, same ideas, same mess...no solution....you want to fix things? cut the size of the government by 1/2..less taxes
CyBeRTRoNFLuX 1 year ago
@CyBeRTRoNFLuX Most corporations get out of paying so much in taxes it isn't funny. They're sending jobs overseas because slave labor is a lot cheaper than paying decent, livable pay to US workers. Arrogance and greed running wild. They don't owe their workers a damn thing, they don't owe the communities a damn thing, and they don't owe the country a damn thing. It's all take, take, and take, and they'll be damned if they're going to give anything back.
brainfart101 1 year ago
you should meet Dave Ramsey. He would be your friend.
Jakathera 1 year ago
This has been flagged as spam show
of course its okay, it is all good because you are absolute elite. shit yeah, no doubt in my mind fuckers.
onceigoblack 1 year ago
I'm not a North Carolinian, but my advice is this: reinstate Glass-Steagall immediately.
The financial sector and Wall Street will scream bloody murder, but a structural reform is necessary.
In the 1960s, this country was prosperous, with prosperity across the board.
Union membership was high.
The economy and many industries were regulated.
The top tax bracket was 75%.
What happened?
The rich ruled stupidly. Now we must undo the stupid.
crasmane1 1 year ago 3
@crasmane1
When will people realize that it is the rich who rule governments? IT'S THEIR TOOL, look up the "Iron Triangle", you aren't going to wield it against them. Goldman Sachs doesn't quake in it's boots when you elect leaders like Cal Cunningham. It laughs, gives "contributions" to the party Whip (Pelosi or Harry Reid), who in turn neuters him, and uses the money he apportions (from you) for its interests.
HBSchool 1 year ago
@crasmane1 You hit the nail on the head!
brainfart101 1 year ago