corporations fight each other, ofcourse. mostly media industries lean left. oil corporations lean right. banks lean on who ever has more control over congress and the overall government. so during that time, it was a democratic majority congress with a democratic president. the lobbyists proposed the bill and the congress didnt even read it.
I'm for Ron Paul but I like it when people talk about jailing these scumbags, good job newt but I still won't vote for you. I'm writing in Ron Paul even if he loses the republican nomination.
Newt is such a hypocrite....he took millions from Freddie Msc and fanny Mae....just like the time when he support bill Clinton impeachment while having an affair...the honest person is Ron Paul
The FIX was put in by the Republicans and President Bush from 2000-2006 which created and festered the bubble that burst our economy downhill in 2008.
Republicans had control of the whole government for 6 years and they set policy in that catered to Wall Street, Corporations, and Banks through housing, taxes, derivatives, loans, trade, etc..., that destroyed our economy. Newt is a bitter guy who's mad he can't even beat Michele Bachmann in a straw poll.
The initial bailout, TARP, was passed in 2008 with the Democrats in control of both houses of Congress. The Democrats in the House voted 172-63 in favor and the Republicans voted 91-108 against. In the Senate, Democrats voted in favor 42-10 and the Republicans in favor 32-15.
Overall, it was DEMOCRATS that favored bailing out the banks more than the Republicans. Now, who exactly is the tool of the rich and Wall Street?
We need a criminal investigation into Dodd's dealings with Countrywide...
@obamaneedstogo Ok so both parties are slaves to corporations. Time to start a 3rd party, a REAL 3rd party and not another branch of the Republican party (Tea Party) or the Democratic party (Occupy Wall Street). We need Ron Paul and Ralph Nader to form a Real 3rd party!
This comment has received too many negative votesshow
"Let's look at the politicians who created the environment (George Dubbya) the politicians who profited from the environment (Newt Gingrich) and the politicians who put this country in trouble (Reagan and Bush)" So, do you REALLY want us to investigate into who put this country in trouble for their own profiteering Newt or do you want us to leave it be?
No, he won't get the votes to win the nomination. I think that, in the end, Newt will come out behind Santorum. I think the whole Republican party is behind Santorum.
“Apparently, Newt Gingrich — who considers himself one of the intellectual leaders of the free world — is so embarrassed by the fact that he is running behind Michele Bachmann in Republican polls that it has increased his already well-developed propensity to utter outlandish things” - Mr. Frank
@USA4July1776 - Newt didn't mention throwing GW Bush, Dick Cheney, Rice or Paulson in jail. Yes Dodd and Frank are both guilty but so was President Bush and his cronies.
Starting with the provision that, for all publicly traded corporations, shareholders get to vote on executive salaries. (Unless you're going to go on record as being against democracy and transparency in commerce.) And finishing with the provision that makes it ILLEGAL for speculators to drive up the price of oil by buying and sitting on oil futures.
Yeah, the sock puppets hate the truth. So I'll repeat it.
Dodd/Frank makes it ILLEGAL for speculators to drive up the price of oil by buying oil futures and then sitting on them (the main reason for oil price spikes, NOT lack of drilling), REGULATES derivatives trading (which caused the 2008 melt down), requires that shareholders in companies get to VOTE on big executive salaries, and sets up an independent Consumer Financial Protection Agency.
If we are going to start locking up politicians who are close to Wall Street/Banker Lobbyist then that would wipe out the Republican Party except Ron Paul & a good chunk of the Democrats...Ron Paul would finally be the head of the Party that wants nothing to do with him! LOL! However, the funny thing is Ron Paul fears upsetting people or he would abandon the party that hates him & run as 3rd Party Candidate...Yeah, Right!
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@SpitfireOFatj Probably! LOL! They will probably migrate to his son who is just as nutty as Paul... If not more! He openly says things Ron Paul chooses not to for political reasons. Over the top Libertarianism is just as nutty as believing a man was nailed to post in order to save humanity from itself because a woman ate an apple that a snake told her to eat! YIKES!
yeah, makes me wonder why Dick ''Vampire'' Cheney is not in jail. Makes me also wonder why Bush keeps going around saying that the Iraq didn't allow UN inspectors in
I'll tell you what. How about we compare the bank accounts of Dodd and Frank to the Goldman Sachs traders who bundled worthless crap mortgages into obscure MBSs, colluded with ratings agencies to rate them AAA, sold them to their own clients, then made a fortune short-selling them knowing they were worthless and would eventually collapse, and THEN let the OWS protesters decide who to tar and feather?
I'll gladly take a Dodd/Frank trial IF we get a Wall Street trial too.
Please explain how. (Hopefully without invoking unsupported myths about how Barney Frank magically blocked bills to regulate Fannie Mae and Freddie Mac during the 109th Congress, despite both chambers of Congress and the Executive Branch (including HUD) being controlled by the GOP.)
Let's see: Gramm-Leach and CFMA were written by Phil Gramm, passed by a Republican Congress with a veto proof majority and signed into law by Clinton. They repealed Glass-Steagall while not legislating a regulatory agency for merged banks and brokerages or limiting their debt to capital ratio. They allowed banks to sell bad mortgages and pass them to third parties who obscured how worthless they were by colluding in fraud with ratings agencies.
"How about we jail everyone who originally repealed Glass-Steagall."
Excellent idea. In which case, Barney Frank would be one of the few politicians to stay OUT of jail. Glass-Steagall was repealed by the Gramm-Leach-Bliley Act of 1999, and Frank was one of the few who voted AGAINST it while all the other Congressmen were rubbing their hands together and salivating over the thought of all the lobby money they'd bring in as a result of passing it.
@george2648 "Ron Paul 2012 fuck all the other puppets"
Ya know, Liberals supported Ron Paul during the Bush Years because he was anti-war but not any more after getting to know his domestic policies. About the only shot you have of getting them to admire him again is to say he saw a whole lotta pussy in the 60's and 70's.
Actually, Barney Frank was one of the few House members who voted AGAINST the Gramm-Leach-Bliley Act, which allowed banks and brokerages to merge (repealing Glass-Steagal) while not mandating a regulatory agency to oversee the merged entities and limit their debt to capital ratio. Those entities crashed because they were over leveraged.
Let's throw Dick Cheney in jail for doing business with Iran when we had (and still have) sanctions on them. We can't jail former Haliburton CEOs for willfully committing a treasonous act?
@GypsyMofakka It really is disgusting how many people in the federal government get away with what they get away with. You would probably have to jail over 100,000 people who have worked for various departments for the past 20 years. Congressmen, Senators, A vice president, people in the Energy dept, Labor dept, Justice dept, FDA, EPA, Fema, and on and on and on. Corruption is rampant in every office, back room, and corner. The system is Totally Broken and Corrupt!
The people raping this country must be very afraid of him.
There used to be some doubt to who it is but his campaign is really shining the light on who is screwing this nation. Every one who is afraid of him is guilty.
Hey Newt I seem to remember you being one hell of a corrupt son of a bitch when you were speaker of the house. You should have gone to Jail. You also have the morals of a sewer rat.
sure newt. the only people who should go to jail are the progressive politicians. surely no one from or wall street or the right. government bad! free market good! liberal tyranny! yadda yadda yadda.
@Foreverclever87 I saw the title and thought TPM was being funny again for a second. Newt is placing the blame on the guys trying to fix what HE(NEWT) helped to create. Same shit kick a cat kill a baby and blame your opponent, then hope the people are dumb enough to believe your shit. Barney Frank is one of the best we have. Newt and his corporate tort reform market deregulation republicans caused this problem, they know it, they get rich off it, and they want to do more of it..
oooh if Newt goes there all the skeletons are going to crash out of the closet... nothing like a desperate political hasbeen to shake up politics with a lot of loose knowledge.
I'm sure the vast majority of people, at least in NORMAL economic times, who take advantage of UI DO find jobs before they run out. They're hard-working folks who are constantly looking, applying, etc. But the fact that there are a few outliers who are just lazy bums SHOULD NOT in any way somehow 'tarnish' the image of the welfare state in helping people become self-sufficient again.
It's in the BUMS' personalities to be deadbeats and just cheat taxpayers by NOT looking for new jobs and sitting on their asses with taxpayer money! Everyone is diff.
Mind you, no one FORCED the banks to make tons more loans for tons more securities. Fannie and Freddie simply lowered their standards, thanks to government pressure for MORE HOME LOANS, and the banks, seeing an even bigger opportunity to sell more mortgages while being able to DUMP risky mortgages onto a 3rd-party and absolve themselves of responsibility, took it.
Call it what it is. It's just as bogus as the anti-welfare state rhetoric about "dependency" from programs like UI.
The people who take advantage of a loophole or 'business opportunity' that could potentially DAMAGE the economy in the long run out of recklessness and irresponsibility ARE RESPONSIBLE for that crash. Blaming the government for it all is just silly. You're making EXCUSES for Wall St.! Yes, Dodd and Frank aren't ENTIRELY blameless, but their role was minimal at best. Fannie and Freddie held the carrot on a stick of MUCH MORE securitization, but it was reckless bankers who took the bait.
One COULD say that various government policies NUDGED the businessmen into doing more of that bad behavior than might otherwise happen (although counterfactuals are almost impossible to prove), but greed is a way of life on Wall St.! Corruption is endemic. Wall St. got drunk, as Bush said, much as I hate to use one of W.'s phrases.
I'm not saying the government had NO ROLE to play in creating the financial crisis, but it was by and large Wall St.'s fault. THEY were the ones who sold the subprime mortgages, esp. those at non-bank lenders like Countrywide THAT WEREN'T EVEN REGULATED BY THE CRA. Very few institutions that SOLD toxic assets were 'forced' into it; they saw a very lucrative way to make lots more money and ran with it! They were careless. To blame the government 100% is insane.
Blaming the people who "created the environment" for bad behavior to exist rather than the ASSHOLES who took advantage of it and let their own greed and avarice go too far.
Whoever HEARD of such nonsense? Jailing a legislator simply because he "overregulated"? Because YOU don't like the regulations he put forth? What a crybaby
Yes, MAYBE Dodd-Frank was "overregulation", at least for smaller banks, and the amount of pages WAS a lot (although I'm no expert on 'proper' regulations of banks), but if you don't like it, FIX IT. Reform the fucking bill, not call for CONGRESSMEN TO BE JAILED, for christ sake.
Yes... JAIL the people who try to keep Wall St. greed at bay. I'm sure the American people WHO DON'T stand w/ Wall St. 24/7 LOVE that idea...
The last time Newt talked about putting someone in jail, he was doing worse stuff than the guy he was accused. Newt is as big a slimeball as they come.
Gingrich is absolutely right here. They are CRIMINALS.
1337wafflezz 1 month ago
corporations fight each other, ofcourse. mostly media industries lean left. oil corporations lean right. banks lean on who ever has more control over congress and the overall government. so during that time, it was a democratic majority congress with a democratic president. the lobbyists proposed the bill and the congress didnt even read it.
maxten 1 month ago
I'm for Ron Paul but I like it when people talk about jailing these scumbags, good job newt but I still won't vote for you. I'm writing in Ron Paul even if he loses the republican nomination.
WashingtonEnema 1 month ago
RON PAUL for President
Send everyone else to jail.
Netwirq2 1 month ago 2
Newt is such a hypocrite....he took millions from Freddie Msc and fanny Mae....just like the time when he support bill Clinton impeachment while having an affair...the honest person is Ron Paul
69theoldman 3 months ago 2
Amen!
ajrep 4 months ago
Newt for PreZ !!!
leddhed 5 months ago
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The FIX was put in by the Republicans and President Bush from 2000-2006 which created and festered the bubble that burst our economy downhill in 2008.
Republicans had control of the whole government for 6 years and they set policy in that catered to Wall Street, Corporations, and Banks through housing, taxes, derivatives, loans, trade, etc..., that destroyed our economy. Newt is a bitter guy who's mad he can't even beat Michele Bachmann in a straw poll.
tytheeman20 5 months ago
The initial bailout, TARP, was passed in 2008 with the Democrats in control of both houses of Congress. The Democrats in the House voted 172-63 in favor and the Republicans voted 91-108 against. In the Senate, Democrats voted in favor 42-10 and the Republicans in favor 32-15.
Overall, it was DEMOCRATS that favored bailing out the banks more than the Republicans. Now, who exactly is the tool of the rich and Wall Street?
We need a criminal investigation into Dodd's dealings with Countrywide...
obamaneedstogo 5 months ago 12
@obamaneedstogo Ok so both parties are slaves to corporations. Time to start a 3rd party, a REAL 3rd party and not another branch of the Republican party (Tea Party) or the Democratic party (Occupy Wall Street). We need Ron Paul and Ralph Nader to form a Real 3rd party!
kakashi76767 4 months ago
What did he say that was so 'wrong' ?
yadig2012 5 months ago 4
This comment has received too many negative votes show
"Let's look at the politicians who created the environment (George Dubbya) the politicians who profited from the environment (Newt Gingrich) and the politicians who put this country in trouble (Reagan and Bush)" So, do you REALLY want us to investigate into who put this country in trouble for their own profiteering Newt or do you want us to leave it be?
the1tigglet 5 months ago
Newt 2012!
Requinix17 5 months ago
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@Requinix17 "Newt 2012!"
Okay,...now THAT gave me a chuckle....
SpitfireOFatj 5 months ago
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@Requinix17
No, he won't get the votes to win the nomination. I think that, in the end, Newt will come out behind Santorum. I think the whole Republican party is behind Santorum.
TrollBuster9090 5 months ago
That's what the GOPricks are out to do, jail and repress their opposition-only if we LET them!
jom57 5 months ago
Its time for some politicians to go to Jail.
TEXANConnection 5 months ago
“Apparently, Newt Gingrich — who considers himself one of the intellectual leaders of the free world — is so embarrassed by the fact that he is running behind Michele Bachmann in Republican polls that it has increased his already well-developed propensity to utter outlandish things” - Mr. Frank
stperkin 5 months ago
DId you listen to him? He said to examine the evidence.
TheMrTTT 5 months ago
This is rich....Salamander suggesting that an elected representative should go to prison for bad policy and cronyism.
edgwaterprog 5 months ago
so....Dubya can be imprisoned? Great!
SeparateisntEqual 5 months ago
SOOO many belong in jail!
ClayMcKeel 5 months ago
Wait wait! Are you leftists actually defending and even standing up for Dodd/Frank!?
USA4July1776 5 months ago 11
@USA4July1776 - Newt didn't mention throwing GW Bush, Dick Cheney, Rice or Paulson in jail. Yes Dodd and Frank are both guilty but so was President Bush and his cronies.
runningchance 5 months ago
@USA4July1776 Wait, Wait! Are you rightists actually defending Newt Gingrich?
BottleConcreteBlond 5 months ago
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@USA4July1776 "Wait wait! Are you leftists actually defending and even standing up for Dodd/Frank!?"
The government had nothing to do with the mortgage crisis. Neither did Fannie or Freddie.
I know the Right Wing doesn't want you to hear that so maybe it's the first time you've heard it.
SpitfireOFatj 5 months ago
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@USA4July1776
Any day of the week, faux patriot.
Starting with the provision that, for all publicly traded corporations, shareholders get to vote on executive salaries. (Unless you're going to go on record as being against democracy and transparency in commerce.) And finishing with the provision that makes it ILLEGAL for speculators to drive up the price of oil by buying and sitting on oil futures.
TrollBuster9090 5 months ago
@TrollBuster9090
Yeah, the sock puppets hate the truth. So I'll repeat it.
Dodd/Frank makes it ILLEGAL for speculators to drive up the price of oil by buying oil futures and then sitting on them (the main reason for oil price spikes, NOT lack of drilling), REGULATES derivatives trading (which caused the 2008 melt down), requires that shareholders in companies get to VOTE on big executive salaries, and sets up an independent Consumer Financial Protection Agency.
THAT'S WHY REPUBLICANS HATE IT.
TrollBuster9090 5 months ago
Newt..at least he is consistent...consistently an asshole.
Calimantalkin 5 months ago
There are no sane people left in the Republican party.
Richardgwm 5 months ago 3
If we are going to start locking up politicians who are close to Wall Street/Banker Lobbyist then that would wipe out the Republican Party except Ron Paul & a good chunk of the Democrats...Ron Paul would finally be the head of the Party that wants nothing to do with him! LOL! However, the funny thing is Ron Paul fears upsetting people or he would abandon the party that hates him & run as 3rd Party Candidate...Yeah, Right!
Viracocha711 5 months ago
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@Viracocha711 Ever wonder if the Ron Paul supporters will still be screaming for him to be President when he's 90?
SpitfireOFatj 5 months ago
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@SpitfireOFatj Probably! LOL! They will probably migrate to his son who is just as nutty as Paul... If not more! He openly says things Ron Paul chooses not to for political reasons. Over the top Libertarianism is just as nutty as believing a man was nailed to post in order to save humanity from itself because a woman ate an apple that a snake told her to eat! YIKES!
Viracocha711 5 months ago
The original clip is 2:20 seconds. Why cut it off? Fail tpMTV.
toddclemmer 5 months ago
Republicans complaining about lobbyist HAHAHAHAHAHAHAHAHAHAHAAAAHAHAAHHAAAHHAHAHHAHAH ...HA!
gallomex13 5 months ago 4
yeah, makes me wonder why Dick ''Vampire'' Cheney is not in jail. Makes me also wonder why Bush keeps going around saying that the Iraq didn't allow UN inspectors in
jopaddy81 5 months ago 3
If the occupiers were serious they would be calling for Chris Dodd And Barney Frank to stand trial .
imN0Ttheone 5 months ago
@imN0Ttheone
I'll tell you what. How about we compare the bank accounts of Dodd and Frank to the Goldman Sachs traders who bundled worthless crap mortgages into obscure MBSs, colluded with ratings agencies to rate them AAA, sold them to their own clients, then made a fortune short-selling them knowing they were worthless and would eventually collapse, and THEN let the OWS protesters decide who to tar and feather?
I'll gladly take a Dodd/Frank trial IF we get a Wall Street trial too.
TrollBuster9090 5 months ago 4
@TrollBuster9090 With out Dodd and Frank none of this happens .
imN0Ttheone 5 months ago
@imN0Ttheone
Please explain how. (Hopefully without invoking unsupported myths about how Barney Frank magically blocked bills to regulate Fannie Mae and Freddie Mac during the 109th Congress, despite both chambers of Congress and the Executive Branch (including HUD) being controlled by the GOP.)
TrollBuster9090 5 months ago 2
@TrollBuster9090 I'm on the edge of my seat waiting on imNOTtheone to explain..... tick.. tock.. tick.. tock
hollyjollyatheist 5 months ago
@hollyjollyatheist
I'm sure he'll get right back to us with the details. (As soon as he's finished googling FreeRepublic for the latest talking points about it.)
TrollBuster9090 5 months ago
@TrollBuster9090 Trying to re write history won't work as most people relize both Frank and Dodd should be in prison .
imN0Ttheone 5 months ago
We could arrest almost ALL politicians for violating the Constitution.
ForLiberty888 5 months ago
Let's see: Gramm-Leach and CFMA were written by Phil Gramm, passed by a Republican Congress with a veto proof majority and signed into law by Clinton. They repealed Glass-Steagall while not legislating a regulatory agency for merged banks and brokerages or limiting their debt to capital ratio. They allowed banks to sell bad mortgages and pass them to third parties who obscured how worthless they were by colluding in fraud with ratings agencies.
Who's fault is that? BARNEY FRANK, of course!
TrollBuster9090 5 months ago 5
What a clown. How about we jail everyone who originally repealed Glass-Steagall.
JobDDT 5 months ago 3
@JobDDT
"How about we jail everyone who originally repealed Glass-Steagall."
Excellent idea. In which case, Barney Frank would be one of the few politicians to stay OUT of jail. Glass-Steagall was repealed by the Gramm-Leach-Bliley Act of 1999, and Frank was one of the few who voted AGAINST it while all the other Congressmen were rubbing their hands together and salivating over the thought of all the lobby money they'd bring in as a result of passing it.
TrollBuster9090 5 months ago
Corporate Fascist Gingrich!
Iceberg6606 5 months ago
Ron Paul 2012 fuck all the other puppets
george2648 5 months ago
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@george2648 "Ron Paul 2012 fuck all the other puppets"
Ya know, Liberals supported Ron Paul during the Bush Years because he was anti-war but not any more after getting to know his domestic policies. About the only shot you have of getting them to admire him again is to say he saw a whole lotta pussy in the 60's and 70's.
Just don't mention he was a gynecologist.
That would blow his image....
......again....
SpitfireOFatj 5 months ago
Newt knows a thing or two about commiting crimes.
petehjr1 5 months ago 9
@petehjr1 Serial wife swapping?
xmtsystems 5 months ago
@petehjr1 What crimes would you be referring to?
yonatan703 5 months ago
Actually, Barney Frank was one of the few House members who voted AGAINST the Gramm-Leach-Bliley Act, which allowed banks and brokerages to merge (repealing Glass-Steagal) while not mandating a regulatory agency to oversee the merged entities and limit their debt to capital ratio. Those entities crashed because they were over leveraged.
TrollBuster9090 5 months ago 2
Let's throw Dick Cheney in jail for doing business with Iran when we had (and still have) sanctions on them. We can't jail former Haliburton CEOs for willfully committing a treasonous act?
GypsyMofakka 5 months ago 2
@GypsyMofakka It really is disgusting how many people in the federal government get away with what they get away with. You would probably have to jail over 100,000 people who have worked for various departments for the past 20 years. Congressmen, Senators, A vice president, people in the Energy dept, Labor dept, Justice dept, FDA, EPA, Fema, and on and on and on. Corruption is rampant in every office, back room, and corner. The system is Totally Broken and Corrupt!
PorscheB06 5 months ago
Newt is such a tool. Go Ron Paul! Audit the Fed! Support HR459
surfn123 5 months ago
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MEDIA IS FRAUD
Ignoring Ron Paul again!
The people raping this country must be very afraid of him.
There used to be some doubt to who it is but his campaign is really shining the light on who is screwing this nation. Every one who is afraid of him is guilty.
MF713 5 months ago
He's right.
jtbpnw 5 months ago
Hey Newt I seem to remember you being one hell of a corrupt son of a bitch when you were speaker of the house. You should have gone to Jail. You also have the morals of a sewer rat.
dellboy99 5 months ago
Put Frank and Dodd in jail !!!!!!! throw in Schumer and Pelosi too !
iwillspyonyou 5 months ago
sure newt. the only people who should go to jail are the progressive politicians. surely no one from or wall street or the right. government bad! free market good! liberal tyranny! yadda yadda yadda.
dpo5000 5 months ago
STOP BLAMING the good guys for your follies NEWT.
VoVaKissCam 5 months ago
@Foreverclever87 I saw the title and thought TPM was being funny again for a second. Newt is placing the blame on the guys trying to fix what HE(NEWT) helped to create. Same shit kick a cat kill a baby and blame your opponent, then hope the people are dumb enough to believe your shit. Barney Frank is one of the best we have. Newt and his corporate tort reform market deregulation republicans caused this problem, they know it, they get rich off it, and they want to do more of it..
VoVaKissCam 5 months ago
Dodd, Frank, Hillary, Soetoro ... don't stop now....
jag10 5 months ago
There's a lot more politicians you could add to that list! Newt may be guilty of some indiscretions himself, but he is telling the honest truth here!
Domin8r78 5 months ago
Is there anything wrong with putting all your political opponents in jail?
cagedtigersteve 5 months ago 6
@cagedtigersteve "Is there anything wrong with putting all your political opponents in jail?"
Not in Soviet Russia!
WG55 5 months ago
@WG55
Not in Alabama, either.
I presume you've heard of Don Siegelman?
TrollBuster9090 5 months ago
oooh if Newt goes there all the skeletons are going to crash out of the closet... nothing like a desperate political hasbeen to shake up politics with a lot of loose knowledge.
pyrrho314 5 months ago
Newt Gingrich is a career politician with a history of personal indiscretions. People in glass houses shouldn't throw stones
tankwfw 5 months ago
@tankwfw
Don't worry about Newt. He's never going to get near the GOP nomination.
In fact, politically speaking, he's probably going to come in behind Santorum. (And I mean that in the literal sense.)
TrollBuster9090 5 months ago
@TrollBuster9090 LOL Behind, are you implying he likes men?
PorscheB06 5 months ago
@PorscheB06
Good point. I wasn't suggesting that. I was just making the observation that "Gingrich usually comes out after Santorum."
TrollBuster9090 5 months ago
I'm sure the vast majority of people, at least in NORMAL economic times, who take advantage of UI DO find jobs before they run out. They're hard-working folks who are constantly looking, applying, etc. But the fact that there are a few outliers who are just lazy bums SHOULD NOT in any way somehow 'tarnish' the image of the welfare state in helping people become self-sufficient again.
whoo689 5 months ago
It's in the BUMS' personalities to be deadbeats and just cheat taxpayers by NOT looking for new jobs and sitting on their asses with taxpayer money! Everyone is diff.
whoo689 5 months ago
Mind you, no one FORCED the banks to make tons more loans for tons more securities. Fannie and Freddie simply lowered their standards, thanks to government pressure for MORE HOME LOANS, and the banks, seeing an even bigger opportunity to sell more mortgages while being able to DUMP risky mortgages onto a 3rd-party and absolve themselves of responsibility, took it.
Call it what it is. It's just as bogus as the anti-welfare state rhetoric about "dependency" from programs like UI.
whoo689 5 months ago
The people who take advantage of a loophole or 'business opportunity' that could potentially DAMAGE the economy in the long run out of recklessness and irresponsibility ARE RESPONSIBLE for that crash. Blaming the government for it all is just silly. You're making EXCUSES for Wall St.! Yes, Dodd and Frank aren't ENTIRELY blameless, but their role was minimal at best. Fannie and Freddie held the carrot on a stick of MUCH MORE securitization, but it was reckless bankers who took the bait.
whoo689 5 months ago
One COULD say that various government policies NUDGED the businessmen into doing more of that bad behavior than might otherwise happen (although counterfactuals are almost impossible to prove), but greed is a way of life on Wall St.! Corruption is endemic. Wall St. got drunk, as Bush said, much as I hate to use one of W.'s phrases.
whoo689 5 months ago
I'm not saying the government had NO ROLE to play in creating the financial crisis, but it was by and large Wall St.'s fault. THEY were the ones who sold the subprime mortgages, esp. those at non-bank lenders like Countrywide THAT WEREN'T EVEN REGULATED BY THE CRA. Very few institutions that SOLD toxic assets were 'forced' into it; they saw a very lucrative way to make lots more money and ran with it! They were careless. To blame the government 100% is insane.
whoo689 5 months ago
Typical GOP scapegoating
Blaming the people who "created the environment" for bad behavior to exist rather than the ASSHOLES who took advantage of it and let their own greed and avarice go too far.
whoo689 5 months ago 2
Whoever HEARD of such nonsense? Jailing a legislator simply because he "overregulated"? Because YOU don't like the regulations he put forth? What a crybaby
whoo689 5 months ago
Yes, MAYBE Dodd-Frank was "overregulation", at least for smaller banks, and the amount of pages WAS a lot (although I'm no expert on 'proper' regulations of banks), but if you don't like it, FIX IT. Reform the fucking bill, not call for CONGRESSMEN TO BE JAILED, for christ sake.
Yes... JAIL the people who try to keep Wall St. greed at bay. I'm sure the American people WHO DON'T stand w/ Wall St. 24/7 LOVE that idea...
whoo689 5 months ago 2
What a KOOK. Why is this guy still in the race?? Even Ron Paul, who's never really been a favorite among the GOP base, at least WINS STRAW POLLS.
JAIL the people who actually TRIED TO PREVENT ANOTHER CRASH and get Wall St. under control???? ARE YOU NUTS, Newt?
whoo689 5 months ago
The guy's just trying to get headlines.
jumpoutatree 5 months ago
Oh, is Newt still in the race?
therealmanos 5 months ago
The last time Newt talked about putting someone in jail, he was doing worse stuff than the guy he was accused. Newt is as big a slimeball as they come.
gj804 5 months ago 3