Kucinich on Fox: Stanford scandal

[noxidereus]

No regulation should be private. To assume that a for-profit regulatory company wouldn't be corrupt is asinine. When profit is the primary goal, regulation would be secondary. We are currently seeing what happens when we let the free market regulate itself, an idea wholly discredited. Of course government is corrupt too, That's because we the people vote like idiots. We should be voting more people like Kucinich into office, but no, we vote for corporate tools instead.

[shadowwbn]

I do not know where you have been lately, but the vast majority govt officials, voted into office are the products of a rigged election. Bush was elected, and re-elected, using two different methods of fraud. If they could get away with it two times, both of them back to back, for the office of President of the United States, then its pretty much expected to be occuring in the lower positions.

It boils down to the financial backers wanting their chance to exploit our country to make money.

[shadowwbn]

As for the regulation being private, your correct, this is seriously stupid. All those investers trusted madoff, and look what happened. The FCC, FDA, hell all regulatory govt agencies, involved with these repeated, inexcusable, fumbling of their responsibilities should been wiped clean of its employees in leadership/supervisory positions, so we can get new management, that we can trust, even if its just a little bit of trust, thats better than ZERO trust from these obviously corrupted bastards

[garyowen4ever]

dagen GOMER PYLE mcddowell, is the BIGGEST MORON IN BUSINESS OR NEWS TV....bigger than cnbc's erin burnett, jim cramer and larry krudlow and cnn;s ali velshi, THIS WOMAN HAS SHIT FOR BRAINS,,her big ugly motor mouth is always in motion without her brain in gear!

[Paolo7219]

What is unfolding now is the result of the synergy of when the financial markets are corrupted and the regulators are corrupted and the Congressional oversight is corrupted. If investors NEVER AGAIN trust risking their money in the US stock market or other investments overseen by US banks, one can NOT blame them. This will be one of Bush's lasting legacies. BTW: ask Sean Hannity about his close personal friend R. Allen Stanford. Sean: two words, 5th Amendment.

[22uber]

show me the panties

[daisym555]

You need to pay closer attention 22uber, they weren't wearing any.

[22uber]

thanks daisym555, I might check or maybe just go with that image for a while.

[mslaerik]

why does the camera shot have to be so far down on the woman ? got to keep some "Leg shots" or mabie a "up skirt " to keep people watching stupid "faux news"

[feedbacksol]

The reason is women with hot legs are OBJECTS

[nowellian]

The only welfare state we have is corporate welfare!

Hold these corporate crooks accountabel and bail out the people!

[cungilez]

Mojority love negativity and seing people go down except if that person is his or her mentor or supporter.

[updara1989]

american is so fucked up. its to late they need to start shooting in stead of the goverment keep destrackting them about what they want to find out until they forget about what they wanted to know.

[Dan5819]

Fox did everything to destroy Kucinich's candidacy to the presidency by snubbing him and childishly ridiculing him --- and now it's like Fox is having a love affair with Kucinich. He's on constantly, and seems to be one of their favorite commentators.

[marcomariaz26]

That ditz broad was telling us to by financial stocks two years ago. Why does she still have a job?!?!?

[Scoppertop]

AND... just a couple hours ago, the view count was over 2,000... now it's 1,342 at 1:15 pm ET 2/22/09

[Scoppertop]

alphabeets, Dennis voted for the STIMULUS, not the bailout.

[alphabeets]

We love you Dennis! But after all you have done that is proper, why would you vote FOR the bailout last week?!

[PersianPaladin]

He didn't.

[tonylee1973]

Dennis, Dr. Paul, Maxine Waters, Walter jones, Chuck Hagel, Darrl Issa, Barbara lee. These are about the only people who are not total whores.

[HugeJohn51]

man...it's like you have something against total whores!

[frickadele]

Thank God for Alan Greenspan.

You can't have it both ways.

You can't thank God for the good....,

and not thank God for the bad.

[frickadele]

This man...

is a real man.

[FireGuyX]

Tracy Byrnes is trying to hard, showing her legs like that, lol.

[j0hnwi11iams]

The robbers have been running the banks all under the Bush administration. Justice is supposed to be blind, NOT turn a blind eye.

[gbittner]

thank God for Kucinich and his unusual candor & honesty!

[GalacticLibrary]

JEW Burnie Madoff actually stole $50 BILLION from american tax payers. Why are they talking about $8B ??

[sugarpuddin88]

Waxman & Kucinich made a big beef in Congress about impeaching Cheney

Waxman & Kucinich made a big beef in Congress about AIG using tax payer money for parties & pedicures

Waxman & Kucinich makes a big beef about Greenspan

Waxman, Kucinich & Rahm Emanuel doesn't make a difference; and everybody but the American sheeple know it!

America is a socialist country for corporations and Americans are ignorant sheeple who get the Government they deserve!

[Scoppertop]

uhh, sugarpuddin, corporate control of government is called Fascism. Not socialism.

[HugeJohn51]

wow, you're not very bright are you Sugarpuddin? America is a socialist country? LOL! It is the antithesis of Socialism...I can't think of a country farther from socialism (a western democratic country that is) Corporate control of gov't is Fascism...the opposite of Socialism? Ok? Back to PolySci101 for you sugarpuddin.

[sugarpuddin88]

HugeJohn

Did you read the title page of Newsweek this week?

OK OK - Yes! I get your point!

Specifically, America is a socialist country for soulless corporations that can legally bribe politicians & run by the bankers that finance it all!

[sugarpuddin88]

Gimme a Break!

Elites are above the law!

Daschle, Killefer, & Geithner skippin' out on payin' taxes; Berney Madoff fraud; Barney Frank was arrested for running a male prostitution ring from his own house when he was supposed to have oversight of Freddie Mack; Sen Dodd for mortgage fraud; etc

Is it now time American citizens break the law?

Pentagon admits that 2.3 Trillion dollars has gone missing, ($8000 per person) Army office hit at the Pentagon on 911 was their acct office!

[adjohnson916]

I see Fox News economists have taken a liking to Dennis Kucinich lately. I wonder why it is that he can only land major interviews on the most conservative of the mainstream news networks?

[Licmycat]

Only the crooks are whining. Would ya'll like some cheese with that whine? It should be a treat when youre all in jail.

[Husky217]

Financial industries are heavily regulated, and yet fraud still remains. It speaks to the incompetence of the gov and its regulators. We should just get rid of them, and that would save taxpayers a lot of money. Then private regulators would come in and they would have to be competent to compete. And people would actually do their due diligence, and take some responsibility for themselves.

[Licmycat]

It was the Republicans who destroyed regulations and forbid regulators to enforce the laws. That lie won't fly no mo. Nobody trusts u crooks anymore. We can't afford to.

[Husky217]

lol I am not a republican. I find it amusing you seem to think there's a huge difference between democrats and republicans. They're both big government parties who support our terrible monetary policy, including Keynesian economics, that is ruining the economy. Both don't know how to balance a budget. Both ignore the Constitution, strip our liberties, and reward interest groups. Both are crooks.

[Licmycat]

Oh, but there is. ALL the Republicans are owned by the corporations.

[Husky217]

Not Ron Paul and a couple of others. And do you think most Democrats are not corrupted by corporations? lol. The Democrat majority Congress voted in favor or the TARP bailout for banks.

[scottthrees]

They were also told if they didn't that the US would have to be put under MARSHALL LAW. So, if they didn't vote for it, it would be their fault. Dude, look past the right, left paradigm.

[Husky217]

It was not the lessening of regulations that caused our current problems. It was the excessive easy credit created by the fed holding interest rates very low & government intervention: forcing banks to make loans, GSEs like Fannie Mae and Freddie Mac were encouraged to expand and buy mortgage-backed securities. Not to mention the longer term interventions of the fed, leaving the gold standard for fiat money, etc. And the gov is responding w/ more intervention that is worsening things.

[Licmycat]

Without regulations you can hardly claim ANYONE was holding a gun to these banker's heads. With their lobbyists, they got JUST what they wanted!

[Husky217]

Again, you make a wrong assumption that there were no regulations. There were and there was massive gov intervention that led to the private sector making malinvestments. Regulations of mortgage back securities were lessened, but there was only high production/demand of them because of gov intervention.

They got what they wanted? You're saying the bankers wanted to take excessive risks, sustain astronomical losses, beg for bailouts, then have the government tell them how to run their business?

[Licmycat]

Sure. Regulations that weren't enforced. They took the risks 'cause they were insured. You telling me bankers are stupid? If they are that inept, why do people not bury their money in the backyard? Hell, I could have made up my own ways of making money off such a scam. I don't underestimate anyone....do YOU?

[Husky217]

"They took the risks 'cause they were insured"

Exactly. And who insured them? The government. Had the gov insurance not been there, the risks would've likely been reasonable. That is the type of gov intervention that is ruining the nation. If there's gov intervention that encourages people into malinvestments, it's better for that to be somewhat regulated. However, it's best if the intervention didn't take place at all!

And people don't bury their money b/c of FDIC, more bad gov intervention.

[Licmycat]

Do you use a bank to keep your money in?

[Husky217]

Yes, most, but not all of my money.

[Licmycat]

Husky! So; where do you put the rest? Under the mattress or do you bury in the backyard? If you ever go to the wooded swamp; well, you better not go at night, there's things that crawl, run and jump and things that creep around on the ground.....

[Husky217]

In a safe. The elimination of FDIC & other bad gov intervention wouldn't cause panic (well, it would if done now since so many have been irresponsible bc of the intervention. I'm not advocating an irresponsible repeal either).

It would cause people and corporations to be responsible for themselves and do their due diligence when choosing a bank and making investments. Banks would have to be secure in the long run to attract deposits. I'm sure even some non fractional-reserve banks would pop up.

[TexanProgressive]

"The elimination of FDIC & other bad gov intervention wouldn't cause panic".

Doesn't the FDIC work to prevent panic. Without the FDIC, you could have a rumor about a bank run cause a real bank run. Is this not right? I haven't heard a lot of prospective from people who think that the banking system should exist w/o regulation.

[Husky217]

@ Texan: 1. Yes, their aim is to prevent panic, but like most gov intervention, it is counterproductive. Their insurance props up poorly run banks, and leads banks to take on too much risk, and spread that risk further into the economy (when they should've failed or risked far less). It also makes due diligence by customers unnecessary. These bad policies far outweight the benefits of FDIC imo. And FDIC comes at the cost of the bank customers and taxpayers.

[Husky217]

2. If banks ran exactly the same as now, but without FDIC, that would be a disaster. But that's b/c of the bank policies, not the absence of FDIC. Banks would operate very differently without the gov intervention: they would take less & smarter risks, be more liquid, and transparent, so rumors wouldn't take root. Eliminating FDIC would cause banks & people to follow better practices, & the economy would be better and more stable as a result. Search "bring back the bank run" on mises d-o-t org.

[TexanProgressive]

I will check that out. Thank you for the thoughtful response.

[Husky217]

3. I think there should be regulation, mostly for openess and transparency, but it should be private regulation. I'm against most gov intervention and gov regulation b/c the gov is incompetent, corrupt, wasteful, inefficient, use them to grow in power, becomes a burden to the people, and strips away the liberties of the people. Private companies on the other hand have to be competent, cost effective, and offer services people like to be competitive.

[Husky217]

/watch?v=cMnSp4qEXNM

These GSEs are largely responsible for our economic problems.

The video shows that certain practices needed more regulation. However, unlike much criticism coming from Democrats, it was the gov who needed to be regulated the most (or I would say we needed to remove the intervention). And the democrats were against this regulation b/c they had a social agenda of loans & houses for the poor. Republicans are not blameless, but many supported regulation of the GSEs.

[Licmycat]

OH Husky; how do you enforce the laws and regulations without the gov. cop? Clearly recent events have shown us that the corporations are not responsible enough to police themselves. They want to take everyting and force us (the middle-class) to beg for a crust of bread....who do YOU stand with? The corporations or the People?

[Husky217]

"the government has a responsibility to protect investors" - Kucinich. Please show me where that is stated in the Constitution. It's not the government's responsibility. Also, the gov trying to achieve it is making it worse. With FDIC insurance, people don't do their due diligence in choosing a bank. And with gov regulators and rating agencies, people don't do their due diligence in making investments.

If the gov wants to stop fraud, then they should stop social security and their borrowing.

[300ZXturboXX]

ok FINE, tell me where it says to have a federal resarve???

[Husky217]

It doesn't, I'm with you on this one. The fed should be abolished. Part of the fraud in our government is due to the fed fixing interbank interest rates and inflating the money supply.

The existence of the fed as the lender of last resorts also causes banks and people to be less responsible with money.

[GalacticLibrary]

THE U.S FEDERAL RESERVE is privately owned by

Mr. Alan Greenspan,

Mr Frederic S. Mishkin,

Mr. Donald L. Kohn,

Mr Ben S. Bernanki

Mr Randall S. Kroszner

And like ALL central banks, and i mean ALL, the owners are entirely Jewish. Jews make up 1.7% of the total us population, they also own most private banks and 98% of your Americas entire media. Scary stuff.

[300ZXturboXX]

Thank you i can remove one more Brainwashed person from my List.

Peace. Power to free world.

[tonylee1973]

what do we do about it?

[PersianPaladin]

Agree with the problems of a welfare state and borrowing; and btw...Kucinich is against the fractional reserve banking system itself (Ron Paul is the only other candidate who is likewise). With regard to governments' responsibility; they have a duty to protect the individual liberty of the people of the United States.

[EmelinaChaCha]

Mr. Kucinich.. thank you so much for continuing to fight for the American working class. I love hearing you speak. One suggestion: drop the use of "the fact of the matter is..". Those are considered 'weasel words' and subtract from your excellent points. Keep up the good work!

[PaulLeary]

It's great that's he's on Fox to show them right from wrong!

[FlowerClown]

Ahh, the joys of deregulation. Dennis is my local hero.

[henrythesteinberg]

Why so much Fox News Dennis?

[fractal420]

Raising awareness to the people that REALLY need to hear it?

[hypnofan35]

It's because the government of the last eight years has been a collusion festival. I bet if you tortured GW he would spill that he has 10 to 50 billion dollars stashed in SA or UAE banks. Same goes for Cheney

You couldn't bust all these guys in ten thousand years. They know that. You don't get money in banking or politics by being honest dudes.

[oldhacks]

Dennis' new hair cut makes him look old

[moreaudan]

Stanford Coins and Bullion was being pedaled by Fox News Sean Hannity on his radio show. Fools buy gold from a con.

[Scoppertop]

And THANK YOU, Dennis... though mere thanks are not adequate for the stellar job he does in protecting the interests of 'We the People' against white-collar criminals.

[upabittoolate]

i thought he was square dealing. i can't help but agree with you.

[Scoppertop]

Yep... Dennis is a true hero and patriot.

[upabittoolate]

i liked him so much. i'd have voted for him with no guilt if he got nominated. he's almost as bad as nader these days. then again, i just remembered that sam wurlzelbacher is from ohio...

[Scoppertop]

One guess who... the Bush Administration.

[rblwoaclu]

lol meer minions dig deeper