Senate Republicans Block Nominations of Key Administration Officials

[jjrglobal]

Could it be that Bush was not appointing people with questionable character or ideology? For god sake, I've heard some of the things this administrations officials have said. This administration has hired people that look up to Mao or Karl Marx, people that have no respect for the free market or capitalism or for American ideals. Could this be the reason? I think there have not been enough objections to the white house appointees.

[phillipmarch22]

Which of President Obama's appointees are against the "free market"? The un-checked Cowboy Capitalism of the last administration just about got us in to a depression. There is just a difference of the meaning of "Free Market Capitalism" to some, thats all!

[jjrglobal]

Which one has he appointed that is for free market capitalism. His latest czar, Bloom, said"We understand that the free market is a joke, we understand that Capitalism doesn't work and we kinda agree with Mao, that poltical power must come at the barrel of a gun"

Its not just him though, it's all of them. Just listen to what they're saying

[phillipmarch22]

We just got done with a "Trickle Down" economics and no regulation experiment. Failed miserably! NOTHING trickles down, the fat get fatter!

[phillipmarch22]

What cracks me up is the Republicans are the ones blaming President Obama for our unemployment rate and not getting us out of the recession fast enough. They are the same idiots that say that they don't want government messing with the free market and they say the free market will correct everything. They can't have it both ways!

[jjrglobal]

I think what we are concerned about is a repeat of the 30's. The myth that Hoover did nothing and FDR came and saved the economy is exactly that, a myth. FDR took Hoovers policies and made them 5 times as bad, making the great depression great. Why exactly do you think we are in this crisis today? It certainly isn't the free markets fault.

[phillipmarch22]

No, this is not a repeat of the 30's, we are coming out of this way faster. Free market? Works great, we need regulations and the regulators need to enforce them. GREED will ALWAYS win! Always. My father was a mortgage banker for Transamerica for 25 years and I learned a lot about that industry. The CRA had NOTHING to do with this crash, it was risky behavior and greed, plain and simple.

[jjrglobal]

The risky behavior could not have even existed without the GSE's and the CRA, the GSE's backed all this mortgage paper up. As far as the economy getting better, well if you believe in a jobless recovery there's really no need for me to waste my time trying to explain economics to you. The reason the market fell so abruptly last year was that congress banned short selling. The big players had to pull there long positions because their hedges were suddenly taken away by our congress.

[phillipmarch22]

You are right, there was corruption from the bottom to the top of the financial food chain. I hear people say that the start of this mess was the "Community Re-Investment Act." The CRA had NOTHING to do with banks and loan agencies giving no-doc and no-doc loans. I even proved this to myself. In my town there is a Washington Mutual, (now Chase), and B of A and I asked both managers if any legislation forced them to give risky loans. Both said no. No regulation all the way up caused this mess!

[jjrglobal]

Mario Cuomo won a lawsuit for over 2 billion using the CRA as legislation that had been violated. The fact that some branch manager didn't know something doesn't mean shit, the CEO's knew and they lowered the lending standards to accommodate. It doesn't matter, none of this could have been possible without government intervention, primarily the GSE's that were backing all the toxic paper with an implicit guarantee by the Federal Government, without which no one would have touched the MBS's

[phillipmarch22]

Yes, the CEO's of the banks that were bailed out DID know that they were engaging in risky behavior. The CRA did not force any bank to engage in risky behavior. If that were the case, ALL banks would have needed to be bailed out. Not all banks took risks at all. Again, the CRA did not force any bank to give bad loans. Greed, pure and simple.

[jjrglobal]

You're right. After lying dormant almost 21 years, since the S and L scandal, greed all of a sudden jumped out of nowhere and bit everyone on Wallstreet. It's Inexxxxpliccccable! You got it bud, your one of dem deeeep tinkers.who has it all figured out. Good cipherin. Psssshhhh

[phillipmarch22]

From the bottom to the top of the economic food chain, the MAIN thing that has our economy is GREED. If no one was making massive amounts of money, NONE of this would have happened. I agree, both Democrats & Republicans are to blame, but it was GREED that got us where we are now. Just like children, they found they could get away with it, so they did!

[jjrglobal]

You are an intellectual midget my friend. CCCCCYA