Love the picture of rush sucking a big fat dick, I mean cigar, and wishing his own schlong had as much stiffness in the moment of truth. He has to go south and attack desperate women because no woman in this country would have anything to do with his fat disgusting blobbery.
Banks were forced to make bad loans to many people by government intervention (affirmative action for poor folks or people with bad credit). Those loans defaulted hurting the banks that were forced to make them. The government is still hurting banks by halting foreclosures.
If you can't afford a house, you shouldn't buy one. If you can't pay for your house, you should lose it. The government stops this natural process and yes, this hurts the bank.
You know Rusch is right, IN A WAY. The government IS the problem. But he doesn't tell you the TRUE reason. It's NOT the problem because it "over regulates". It's the PROBLEM, because our government is CORRUPTED with money. The rich and powerful PAY our government to do THEIR bidding, NOT what's in the best interest of ALL AMERICANS. THAT, is the problem with the government.
Rush will eventually die. and all his ideas will fade away. Only positive people with real solutions are remembered throughout history. Oh yeah, and mass murders. Rush is neither and his name will be forgotten a decade after his gone. The sooner the better, but I'm sure that some A-hole will replace him pretty fast.
Hey Cenk, don't you think the regulators saying there wasn't enough regulation is a conflict of interest? Of course they want more regulation so they cn have job assurance.
Okey I am rightist. And I do look into some tea party stuff. But I wonder how Rush and Glen ever got to there place. I mean I never heard any thing in the grassroots. Like how did they get there. Also why do they only speak for religous extremists and perinoid people instead of the average "Stop caring about my life" people. Also I see fotage on youtube of racists. I mean where does "I want a smaller gov" and racism go together. Kinda makes me suspect foul play.
I think you folks are a bit harsh on the Rush. He is, after all, an "entertainer".....
What reasonably alert human being, reflecting on the historical precedents available in countless tomes regarding the alacrity with which those in power collaborate with those who wield power (yes, there is a distinction...), could possibly believe that government concocts the majority of the cockamamie schemes that emanate from those supposedly hallowed halls without exhortations (i.e. money) from without?
what are all you guys talking about? this guy not giving any facts? first off he did, and second off, if you listened to that fat guy with a cuban cigar shoved up his ass (yes, his ass not face) he DIDN'T SAY ANY FACTS AT ALL!!!!!!!!
Wrong. Way too many untrue fact in this diatribe. We don't have an "unfettered free market". The government required the lenders to approve loans with very weakened financial guidelines or they would be in violation of the lending acts. So now when the loans go south it is the lenders fault?? They would have been sued by the ACLU if they had refused to give out those bad loans and now it is their fault?? Young Turks?? Young Turds is more like it.
How come those obscure, alien advocates of Socialist absurdism and slavery find themselves at the top of a search, whereas Rush Limbaugh has millions of listeners?
Don't ask why Rush Limbaugh calls the media "state-owned" and "partisan political operatives".
How come those obscure, alien advocates of Socialist absurdism and slavery find themselves at the top of a search, whereas Rush Limbaugh has millions of listerents?
Don't ask why Rush Limbaugh calls the media "state-owned" and "partisan political operatives".
@connecttro Typical liberal. If you don't have any facts just say something mean and disrespectful. I used to do that also. However I graduated from 4th grade a long time ago...
Many people believe the financial disaster with the derivatives was caused by poor people borrowing money they could not pay back. That is total BS. People will believe any nonsense if it makes them feel good about themselves and rich people and gives them a group to hate.
@klard Derivatives are the problem. The ever growing surge in derivative trading has pushed the balance point of speculation to casino levels. Add into the mix unregulated money lending and you have a recipe for disaster.
@zebbedi You are right, a rich Cabal of speculators has created a mechanism to allow them to pile up huge amounts of cash and cashier the economies of nations one by one. They got the USA Government to give them trillions of dollars borrowed by the taxpayers which they are using to perpetuate their scheme.
@spiritranchinfo I didn't vote for Obama, and i think Rush is a bloated jackass that plays off the insecurities of rednecks. The world is not divided into Obama fans and Rush Limbaugh dittoheads, grow up.
@JACKtheRIPP3R189 Well then you obviously voted for a senile out of touch old man and the dumbest women ever to hit the national political stage. Congratulations, you're a dumbass.
@NewYorkCityUSA7 Are you insinuating i'm a republican? Be serious. As it happens i didn't vote at all in the last election. Congratulations, you assumed something for which you had no supporting evidence, and then had the cool cheek to call me a dumbass.
I think everyone failed. Those doing the banking and t hose who were supposed to stop them. Now I don't listen to Limbaugh on a regular basis, but I believe he said that people go houses that couldn't afford them, and race wasn't brought up, but like I said heard it that one time. Lot of things need to change and most importantly people's morality.
Limbaughs endless stream of negativity........ just dumps cortisol in my blood.
i feel sick inside when i listen to him. he wouldnt come out and run for anything...... heck no..... he can blather on the golden EIB microphone......make millions and not add anything constructive to the country....... you guys in the states shave to stop polarized politics and fix your country.... TOGETHER.......
Hey um young turk bro. do you hate all white people you racist fucker peice of shit? you have never criticized a black, jap, mex, mus, jew, turk, or anyone other than Christian honkys. Hey i think your moms calling shes got cookies upstairs so you can get out of her basement with your phony bullshit "news studio". like is that a joke? Don't be jealous of Rush because he's more important you fuck stick
The reason Rush protects Wall Street is because he is a multi-millionaire. You can't blame him for protecting his own interests. The working class taxpayer bailed the Wall Streeters out when they failed due to their greed.
No one should ever buy this as truth. It was a gov't. failure due to lack of oversight. Rush is a great comedian, unfortunately many believe his crazy comedic rants are based in fact.
@lendada13 I read books all the time. How come you liberals are so hateful? When you can't debate with facts you resort to name calling. As I said before, study history and grow up.
yeah the answer is less regulation with a government controlled banking system that uses the only money allowed by the constitution and that's gold
you said it yourself if you watch yourself, regulation doesn't work
do you hear urself? let the same people do w/e they were doing just tell them not to do it
The most important thing here though is that the banks are the problem with their ability bail out these big companies that their friends own and run.
Rush Limbaugh is the absolutely most delusional, simpering gleeb of all time. Who died and left him in charge? Whoever it was should be exhumed and re-killed for such an egregious error in judgment. I hereby submit that NO one left him in charge, and that he is simply taking over the right wing territory because his urine smells a lot worse than the average conservative.
Chris Dodd and Barney Frank changed the way ISSA loans work so that banks should not be checking to make sure people could pay off the loans before handing them out. Government regulation that was allowed when Bill Clinton signed that affordable housing bill into law that gave congress the power to regulate the banks in this manner
@M2sterK1lla Yes.. because Rush Limbaugh has been around since the 80's doing his thing and he appeals to a great swath of old white idiots.. TYT is brand new and his listeners aren't delusional morons and so 1 of them counts for 1000 of Limbaughs subs.. o.o
Rush is a professional.... whiner instigator Liar opportunist entertainer inciter bomb thrower divider hemorrhoid grower When will the Oxy finally start to effect his mouth????
It already did. It severed the connection between his brain and his mouth, so his brain reconnected itself through his rectum and back up into his mouth. That's why everything he says is a load of shit.
@datniggami6 ... I have yet to whine. Sometimes the truth hurts, I understand. Just like when you call an obvious liberal a liberal, they deny it. It's comical actually. Govt regulations kept the financial industry in line? I'd love to hear any proof you have to that. Considering we had 12 rescessions since WWII, that wouldn't be anything to brag about anyways. Just throw stuff against the wall and see if anything sticks huh? LOL
no one is seeking to regulate small businesses,- the new bill that would help us regulate the financial system only applies to nonbank financial companies whose total assets are over 50,000,000,000. So the bill largely does not apply to banks, it is more focused on big wall street companies and only if a council and a board of governors vote in favor of supervision, which is a very stringent process.
The regulation that is being sought here is very limited- it acts as a safety net.
Regulation is a large part of the problem. We need a real free market, not to be regulated by the government. In order to regulate, you need lots of money, too much regulation costs too much money.
It's not the banks fault either, its the federal reserve that is the one that created the toxic assets. You are ignorant.
Now, how are we going to stop financial institutions from crafting synthetic cdo's, than lying to investors about who structure the securities in the cdo so that they then invest while a hedge fund (who coincidently designed the securities in such a way that the would purposely fail) bets on that cdo to fail, as plan, and shorting the hell out of the market.
How do we stop that without a rule saying "you can't do that"
Preventing fraud, and other forms of theft, is the very definition of the free market.
"Regulation" starts when government people do NOT protect property rights but violate them, and do not enforce voluntary contracts but impose UNWANTED clauses on them.
The very fact that you have to resort to examples of dishonesty which violates property rights and which therefore regulation is MOST DEFINITELY NOT there to prevent is evidence enough that it is illegitimate.
@moltenchromium Pardon my hyperbole. The point is he could have enacted legislation if he understood the word compromise as well as he claimed to, and bothered to listen to anyone but yes-men. Bush's 'my way or the highway' routine is just as much to blame for the foreclosure crisis as anything else. Like 9/11, he didn't even see it coming.
@moltenchromium He couldn't reform SS because several Repub senators didn't back him on his plan to privatize it, thank goodness. And oh my, he didn't get every judge he wanted? Poor guy. Maybe he was too busy replacing everyone else in government with his purity-tested ineffectual cronies.
@ismeme ... Simple. Congress stepped up it's push to get every american into a home. This extra push started in 1998. So, to make this happen freddie and fannie loosened lending requirements to drop fico score requirements for example and created the well known subprime category. They told lenders to start accepting much lower credit ratings than they ever have before and fannie and freddie would guarantee them backed by our tax money. Ta-da!
@aSingleDallasGuy That simple, huh? Wow. Makes you wonder why Bush wasn't keen to compromise on a 2003 proposal that had broad Repub and Dem committee support to place an independent regulator within Treasury for Fannie & Freddie. Or why Bush refused to regulate lax private lending practices, or to see the looming foreclosure crisis until it exploded in his face.
@ismeme ... Yes it is that simple. Why do you assume I think Bush and his administration was harmless in this? There's no doubt those guys screwed up as well as Clinton's administration for their liberal housing push. But your blame on Bush as if no one else had anything to do with it is laughable. Bush was neglagent but he sure didn't create the mess. Why can't you admit that congress is at fault when any insider knows this to be true?
@aSingleDallasGuy "Why do you assume I think Bush and his administration was harmless in this?"
Um, because you haven't mentioned them?
Here's who's at fault: The Rs and Clinton for repealing Glass-Steagall. Bush for pushing HUD to meet his goals of homeownership for 5.5 million minority families. Both parties for all the deregulation, making it possible for boatloads of dirty money to be made off subprime loans. And all the lenders/borrowers who screwed the system.
@ismeme ... LOL, then why was your original nonsense post just mentioning banks? Let me guess.... They make a profit right? You are against profits in a capitalist society I see. Yes, a typical liberal who whines about private businesses and adores the govt... Well, only if the figure head of that govt is a democrat. Do I have this about right? You know I do. Anti capitalists are very easy to spot.
@aSingleDallasGuy Since I'm a small business owner I'm hardly against capitalism. It's unregulated capitalism that annoys me and most Americans. Except RW extremists like you, of course, who whine constantly about the gov't stealing from you - unless it's a Repub gov't - but beg for more when big business does it.
You really need to work on your shtick. Try thinking for yourself just once instead of parroting what you've been told to believe. Or maybe I'll just throw you a cracker.
@ismeme .... So anyone who dares disagree with you is a RW extremist? Can't you libs get things straight? The new "in" thing is to call everyone you disagree with a racist. You are so last year! Yes, more govt regulations is what's needed here right? That will and has solved all our problems hasn't it? Yes, those EXPERTS in govt really know what they are doing. It has worked just peachy so far! I guess they missed the subprime thing. The govt workers must have been watching porn at work eh?
@aSingleDallasGuy So you feel free to make derogatory assumptions about me, but when I return the favor the whining begins? Typical.
Gov't regulations kept our financial industry in line from 1932 through to the S&L crisis of the late 80s. That disgusting farce happened only because the parties began chipping away at regulations in the early 80s. Yes, more gov't regulation is needed.
@ismeme ..... How much more regulation is needed? Is this like having 20 overlapping laws? So, lets add a 21st law. Yeah that ouight to do it! Your faith in govt is laughable. Mostly because it's the very same govt who has caused the problem. They set this all up by their incompetence and by putting politics ahead of reason. So, your solution is more of the same! Talk about a liberal merry-go-round. It's insane! And you say its the govt that kept the financial system inline? LOL
@aSingleDallasGuy What's laughable is your notion that allowing big business to regulate itself works. That belief has been held and acted on by our gov't over the last 3 decades in increasingly loosened regulations and lax oversight. Fact: it's a spectacular failure. But you go right on electing people who share your belief in unregulated capitalism. Maybe you'd like to try some unregulated democracy too. Personally, I'll keep our Constitutional Republic.
@ismeme .... I recognize that govt has a role to oversee things. The problem you fail to admit is that govt itself now needs to be overseen! Incompetent boobs get elected and suddenly they are experts in all things. They are torn between doing what's best for the country and satifying their political advancements. There was a time where most politicians would side on what's best for the country. Now we have a system designed to fail. You think more regulations is all that is needed. Good grief!
@aSingleDallasGuy Well, on that you get a big "DUH" from me. I've been preaching the dangers of a bought and paid for gov't for years. FYI, we - the American people - are supposed to oversee the gov't. Kinda hard to do when the corporations have been allowed to own everything from the voting machines to the people we send to Washington.
@ismeme .... True enough. But if we are the people arn't corporations and those who work for the part of the same "we are the people" slogan? So, on one hand you sound logical almost a centrist and then your left brain kicks in and there we go with the nasty capitalist pig corporations again. I would agree that lobbyists have too much influence in politics. BUT whose real fault is that? Again, you bypass politicians as if they innocent in all this. They allow every bit of it, do they not?
@aSingleDallasGuy Did I not write several messages ago that both parties have their hands in this? Did I not say immediately previous that our gov't is bought and paid for? Did you think I meant the curtains? It seems to me that the problem is not my "left" brain but your rather single-minded one. As quick as you are to blame the gov't you excuse the corporations. When a criminal is helped to escape by his guard, we don't blame the guard and excuse the crook. Both are dealt with.
I know people sometimes use the word sack of shit in a degradeful mean spirited way.But in Rush's case he literally look's like a bag of shit.that sit's in an air conditioned office with no flys in site.But he has the bag of bones Tea Party on his side.They have nothing better to do with the rest of their days except listen to a bag of shit on the air waves.
Its all so simple. I don't know how Greenspan missed it. I can only guess that he was only focussed on the banks since that was his job. He just left the rest of the financial market to tend to itself. The real cause is the arrogance of our elected officials. Since they don't represent the citizens, they only represent the party
@AEVautomatic Don't forget the mathameticians, that were hired to try and figure out the mess, nobody could understand what they did. You hit the nail right on the head, when are you running for office!
@AEVautomatic They won't, just like they are complaining about the blind following of the dittoheads, there is a blind following of the otherside. I remember all this coming down. People said could not get loans. the gov't said they would step in if the banks didn't do anything about. The problem will not be solved, the hole will just get deeper.
@AEVautomatic if People think this president or democratic controlled congress are going to screw their largest campaign donors, the are in for a big surprise.
@Paladin601 I doubt it they will just make a fake show to the morons and they will believe it. Obama will bash the banks the banks will have already had their short positions because they new it was coming. They will squeeze the shareholders, and the mass people will think its real.
@AEVautomatic and it going to get worst with nov election coming up. they realize they screwed up with health care now they are scrammbling to save face.
But, poor people can't afford a mortgage rate of 11% when everyone else is only paying 6%. So for the product to provide normal mortgage rates, that extra risk adjusting premium had to be managed some other way. Enter AIG and company. Here, they masked over the inherent risks by putting an insurance policy on the bonds. They said to whomever bought the bonds, they would guarantee any losses over a certain percentage
@AEVautomatic Then the insurance company only took 1 or 2% to provide the insurance. This is equivalent to leveraging at 50-100:1. These bonds with basically zero risk became very attractive and sold at higher and higher prices in the market. This caused a flood of money to flow into the mortgage market at low interest rates and they would accept "any" borrower. Unfortunately, this approach caused the bubble which caused the demise of the bonds and AIG itself.
So, in sub prime, you have a new class of mortgagors with low credit scores, unknown job status, 0% down giving a risk rating of less than 6 and yet unknown expected default rates. The market would probably demand prime plus 4% or more for an interest rate to account for the poor quality of the borrower.
to answer young turkeys, with government insisted that the market develop systems to allow "poor people" to be able to buy a home. Not only did the government insist on it this was forced on FNM and FRE. The government forced them to do risky loans and then allowed them to leverage 50:1. In answer to the insistance of government, the financial firms came up with the mortgage bonds
Does the current health bill do ANYTHING to address the cost of insurance. YES, it insures the cost will rise even more. Three factors to cost, and not one addressed in that bill. Instead, it just says we will cover those not covered and subsidize low and no income people, people cannot be turned down for preexisting conditions, much new government jobs to run, and lots of pork. That assures most americans a big increase in health care costs
@AEVautomatic them not regulating the banks have done it. there is things that are called laws. but they didn't regulate those laws to the banks. they just let them have there way.
@unelmitchell Hmm, in 1993, the government allows freddie and fannie to buy banks mortgages from banks so the banks have more money to lend in order to comply with the governementsn new mandates about increasing minority owners regardless of risk. That was mandated by the goverment.
@unelmitchell 1999. The government repeals the what was it called, GLASS-STENGALL act that separates investment banks from commerce banks so our commerce would never be at risk. AND in the same year the goverment allowed banks to leverage past the 12 to one they were allowed then to 50 to 1
@unelmitchell Why does insurance go up 10% every year. Government regulations are added every year as to what insurances have to cover is the main contributor
@unelmitchell If you have work you can ship jobs overseas and make more profit, you better or else someone else will and put you out of business and then we have no jobs at all here. Sad but true fact. This is a direct result of government regulation.
@unelmitchell Howver, that all being said, it is still us that is responsible. We elect leaders. WE VOTE for more benefits from the limitless treasury. WE do not vote for people who cut back goverment spending. Even today, we are only voting in MASS to keep the lesser increase in government spending, not reverse it.
@unelmitchell by combining the two types of banks, regular commerce is exposed to investment risks not normally associated with commerce. If banks make the wrong investment decisions, their clients (regular businesses) who depend on these banks for loans end up suffering when the the commerce banks are no longer able to offer the kind of credit these businesses depend on on a day to day basis.
@unelmitchell It would be like the credit card company unilaterally decided to decrease your overall credit limit from 50,000 to 10,000 when you typically make purchases between $25-45k a month and quickly pay off that amount every month when you get the money. This is why the credit crisis supposedly threatened to shut down the economy and people were fearing a catastrophic domino effect resulting in a very severe decline into a deep depression).
@unelmitchell When you leverage yourself 12:1, it's like buying a $12 share of stock by putting forward $1 and taking out a loan of the other $11. If the stock goes from $12 to 11, you just lost your entire investment, and if it goes any lower you go into the red. If the stock goes from 12 to 15, you tripled your money on only a 25% gain in the stock. The greater the leverage, the greater the profits and the greater the risk for total and complete bankruptcy.
@unelmitchell Now substitute the word "stock" for real estate, and add 4 - 9 more zeros to the end of the price and an assumption that real estate values never go down and people always pay their mortgages on time, and you can see where the problem comes in.
@unelmitchell the mainstream media have repeatedly blamed deregulation despite the fact that the financial industry is saddled with tens of thousands of regulations despite the fact that the sort of deregulation to which critics refer did not entail moving toward a free market.
@unelmitchell but rather encouraged or required, like with the Community Reinvestment Act banks to engage in unsound business practices which they would be unlikely to undertake on their own, especially without further government distortions, such as the Fed acting as a lender of last resort.
free market = corporations controlling the people. we do not elect them, they have 0 concern for their customers, driven only by profit.
"socialism" / regulated market = corporations are regulated heavily by representatives elected by the people, companies cant get "to big to fail", SAFER products for people, more accountability.
free market is an absurd idea, people hate the idea of companies 'buying' politicians, well wtf do you think happens when corporations get bigger than the govt?
Keep up the good work. Our cartel of teachers' labor unions have done the heavy lifting for you, so there's a sea of true-blue morons out there for you shills to dupe. Keep aping Republicans, but be sure to pepper your rhetoric with the racist lingo in which our party is so thoroughly brewed and steeped. Eye of the donkey, comrades!
Rush is 100% right. It's the govt's fault for the mortgage industry issues because the govt opened the door by regulations to force banks to lend monry to people who have no business being handed a loan. Fannie Mae and Freddia Mac guaranteed these loans. They set out the guidelines that banks followed. Fannie and Freddie is an arm of the govt. Barney Frank and Cris Dodd in particular are at fault for allowing this to happen.
@aSingleDallasGuy No one forced lenders to make bad loans - they did that all on their own when they ran out of good borrowers. Hey, Wall Street was happy to buy the bad loans and sell the risk on, it wasn't going to hurt THEM, so why not?
If you dittoheads would just once stop and consider the huge problems your willful ignorance perpetuates in our country, we might actually manage to fix things instead of making them worse.
@ismeme .... Total BS. The govt requires lenders to lend to minority groups based on the CRA bill in what is called HMDA reporting. Lenders must produce full documentation to the govt on not only who they denied loans but their race, ethnicity and sex so the govt can see if they feel lenders are discriminating. Thus lenders bend over backwards to give loans to those with very shakey credit. Thus here we are. So you are wrong!
@aSingleDallasGuy What's BS is your understanding of that 1977 Act. For example, I'd simply LOVE to hear your explanation for the 20 years that passed quietly after it was enacted, and for the sudden surge in high risk lending from the late 90s on. I suspect your answer will have something to do with ACORN and Citibank and Obama.
I'd also like to hear why Bush and the Repubs, who held power during this time and could have passed reform if they wanted, didn't. Please mention Barney Franks. lol
@ismeme ... 1977 set the precedent for Fannie and Freddie to come in and guarantee loans based on THEIR CRITERIA. So, a bank or any lending institution bases a loan approval on guidelines set by Fannie and Freddie who say if the borrower meets these requirements, we will back your loan. So, the banks follow these guidelines. Fannie and Freddie take order from govt. So, it's the govt's fault period. In your world the fault is at the bottom, while the truth is the fault is at the top.
The worst thing to come out of the economic situation over the last few years is the way the Clueless use it as indictment on markets and capitalism. And fools eat it up.
This guy is an idiot. The only reason he mentions Rushs name is for ratings. This guy has been reduced completely out of the market and has had to resort to "you tube" to get face time.
Banks were forced to give cheap loans to poor credit "poor people" (i million loans went to illegals) as required by the CRA legislation signed by Carter and enhanced by Clinton. The loans were secured by Fannie & Fredie (the government) wich in turn gave bribes to politicians like Dodd, Obama, Barnie etc. to stop legislation introduced by Bush to regulate and stop it in 2004. The loans were sold and resold many times over. So tell me who is at fault you ignorant stupid turk?
@alwaysright5 The Repubs were in control of both houses at that time and never attempted to impose tighter regulations on Freddie and Fannie Mac. A bipartisan bill was introduced in 2005 by Barney Frank and Mike Oxley, but it went nowhere because Bush said he'd veto it. Check the legislation instead of parroting lies.
@ismeme Sorry but that is wrong. The repubs never had a super majority so they could not pass anything without dem support. McCain introduced a Bill in 2005 but was voted down. Bush brought the government auditors to congress for hearings in 2004 and they were shouted down as "racists". Do a search in YouTube with the words "2004 Congress Fannie Hearings" and you will see Barnie, and other scumbags denying that there was a problem and accusing them of being racists.
@alwaysright5 What bill did McCain introduce? I've just looked and can't find it.
If you're talking about S.190, The Federal Housing Enterprise Regulatory Reform Act of 2005, McCain was only a co-sponsor. Hagel introduced it but couldn't even get full support from the Repubs; even Bush didn't like it. It also wouldn't have prevented the housing crisis because it did nothing to tighten oversight and prevent fraud.
@ismeme Chuck Hagel sponsored a Bill in 2005 to regulate fannie and freddie and was co-sponsored by McCain but was stalled by dems and never made to the floor. Actually you are doing a good job trying to spin the issue in favor of the dems. But please do me a favor and do a search in YouTube with these words: "2004 hearings fannie" you'll see 100 videos with Maxine Waters, Barnie Frank and the rest of the maggots saying that Fannie and Freddie are doing "great" under Frank Reigns.
@alwaysright5 I'm not spinning anything, I'm adding facts to the cherry-picked ones you keep regurgitating. And the facts show that no one person, agency, corporation or party is to blame - they ALL had a hand in creating an environment for the perfect storm to happen. So why don't you get YOUR head out of YOUR ass to help your country instead of proving you're part of the problem.
@ismeme Why don't you get your head out of your ass. The legislation was block by Barnie Frank who said "There is nothing wrong with Fannie and Freddie. Check the videos, if not keep your head in your ass as they are the same.
@alwaysright5 Google Bush's 2002 remarks to HUD on his goal of spreading home ownership to the minority masses with the welcome help of Fannie & Freddie.
The American Dream Downpayment Act of 2003 followed. Bush-appointed HUD commissioner Weicher was proud that they had eliminated the statutory requirement of a minimum 3% down payment for FHA-insured single-family mortgages for first-time homebuyers. F&F were forced to take on these riskier loans to meet Bush's goals.
Cenk, but the government did cause the problem. Remember the repealing of Glass-Steagall act? The commodity futures modernization act? The law passed in 08 to allow banks like Goldman Sachs become bank holding company and have access to the fed window at 0%? The bail out?
These were all government acts, if the government did not do any of those, we probably would not have been in this crisis. Now do some things need reform? Of course, we need clear accounting rules, and transparency.
I hate to say this but he is right thinks to Ronald Ragan how took regalations away after the saveings and loan debocal in the 80s and sence then the banks went crazy
@Paladin601 i have read your comment and you are more then right about that. you did a great job showing these brainless wingringers the facts. good job !!!!
@papavalium bush limballs sounds much better. it just fix him perfectly. inciting racism and volence an race baiting with LIES , CONSPIRACY THEORIES. I don't know who is worse Beck or Limballs ??? both of these are evil racist piece for dog shit. there you go two fresh turds.
At least he's not calling for more terrorist attacks like McVeigh. I think he learned his lesson after that.
Hopefully soon he will drop the republicans and join the rest of US in trying to get justice for the attacks of 9/11. I have heard O'Reilly and Beck attacking 9/11 victims on Fox (which makes sense, they are heavily funded by Saudi terrorists) but I haven't heard Rush attacking them. I still think he believes we should get justice for 911. He would be one of the few republicans who do.
@raouldukelives ALSO I HAVE HEARD ANN COULTER ATTACKING THE 9/11 VICTIMS. JUST LIKE THAT ASSHOLE LIMBAUGH ATTACKING THE HURRICANE KATRINA SURVIVORS. I AM A KATRINA SURVIVOR , I HATE THAT FAT RACIST BITCH. THATS A TRADE MARK OF A REPUBLICAN ALWAYS ATTACKING THE VICTIMS. THAT COMES TO SHOW YOU THAT THEY ARE HYPOCRITES WHEN THEY CALL THEMSELVES CHRISTIANS. ALL THOSE COCKSUCKERS REALLY NEEDS TO BURN IN HELL. STARTING WITH THAT PIGGY LIMBAUGH.
So is Rush admitting that Bush fucked things up?
Mr13born79 2 weeks ago
to be so anti gay, this cigar jobbed in the mouth immediately reminded me of Steve Titpig Hurley
johnbmclemore 2 weeks ago
Love the picture of rush sucking a big fat dick, I mean cigar, and wishing his own schlong had as much stiffness in the moment of truth. He has to go south and attack desperate women because no woman in this country would have anything to do with his fat disgusting blobbery.
dockclerk1 8 months ago
Rush is an asshole but hes right this time the federal reserve helped the banks caused the bank caused the problem.
jezza1789 11 months ago
@jezza1789
what.
Kloborgg 4 months ago
Banks were forced to make bad loans to many people by government intervention (affirmative action for poor folks or people with bad credit). Those loans defaulted hurting the banks that were forced to make them. The government is still hurting banks by halting foreclosures.
If you can't afford a house, you shouldn't buy one. If you can't pay for your house, you should lose it. The government stops this natural process and yes, this hurts the bank.
renba7en8 11 months ago
RUSH LIMBAUGH IS A BIGOTED HOMOPHOBE LIAR!!!!! HE WONT ADMIT THAT THE 2000 ELECTION WAS RIGGED!!!!!!!!!!!!
LeftWingPOG 1 year ago
@LeftWingPOG awsome ac name
xxxfealerxxx 9 months ago
You know Rusch is right, IN A WAY. The government IS the problem. But he doesn't tell you the TRUE reason. It's NOT the problem because it "over regulates". It's the PROBLEM, because our government is CORRUPTED with money. The rich and powerful PAY our government to do THEIR bidding, NOT what's in the best interest of ALL AMERICANS. THAT, is the problem with the government.
Teremei 1 year ago
Rush will eventually die. and all his ideas will fade away. Only positive people with real solutions are remembered throughout history. Oh yeah, and mass murders. Rush is neither and his name will be forgotten a decade after his gone. The sooner the better, but I'm sure that some A-hole will replace him pretty fast.
fatouche99 1 year ago 2
Hey Cenk, don't you think the regulators saying there wasn't enough regulation is a conflict of interest? Of course they want more regulation so they cn have job assurance.
barley96 1 year ago
Okey I am rightist. And I do look into some tea party stuff. But I wonder how Rush and Glen ever got to there place. I mean I never heard any thing in the grassroots. Like how did they get there. Also why do they only speak for religous extremists and perinoid people instead of the average "Stop caring about my life" people. Also I see fotage on youtube of racists. I mean where does "I want a smaller gov" and racism go together. Kinda makes me suspect foul play.
ChristinaWolfle 1 year ago 2
rush is nothing more than a shill that panders to the lower class while the rich laugh about it.
vengencefrom1979 1 year ago
I think you folks are a bit harsh on the Rush. He is, after all, an "entertainer".....
What reasonably alert human being, reflecting on the historical precedents available in countless tomes regarding the alacrity with which those in power collaborate with those who wield power (yes, there is a distinction...), could possibly believe that government concocts the majority of the cockamamie schemes that emanate from those supposedly hallowed halls without exhortations (i.e. money) from without?
xlsyor 1 year ago
Every time I see this pic I'm reminded of how 'el Rushbo likes stuff in his mouth that is long, hard, brown and YOUNG!!!
shutterbug98 1 year ago
what are all you guys talking about? this guy not giving any facts? first off he did, and second off, if you listened to that fat guy with a cuban cigar shoved up his ass (yes, his ass not face) he DIDN'T SAY ANY FACTS AT ALL!!!!!!!!
SirLoudManXBL 1 year ago
Wrong. Way too many untrue fact in this diatribe. We don't have an "unfettered free market". The government required the lenders to approve loans with very weakened financial guidelines or they would be in violation of the lending acts. So now when the loans go south it is the lenders fault?? They would have been sued by the ACLU if they had refused to give out those bad loans and now it is their fault?? Young Turks?? Young Turds is more like it.
tonyrbutler 1 year ago 2
This has been flagged as spam show
I want to fuck ana really hard then make her swallow and graggle my cum in here mouth and make her say shes a dirty little hoe THUMBS UP
hamsterman8 1 year ago
This has been flagged as spam show
How come those obscure, alien advocates of Socialist absurdism and slavery find themselves at the top of a search, whereas Rush Limbaugh has millions of listeners?
Don't ask why Rush Limbaugh calls the media "state-owned" and "partisan political operatives".
They simply never think of not being dishonest.
Szentelira 1 year ago
How come those obscure, alien advocates of Socialist absurdism and slavery find themselves at the top of a search, whereas Rush Limbaugh has millions of listerents?
Don't ask why Rush Limbaugh calls the media "state-owned" and "partisan political operatives".
They simply never think of not being dishonest.
Szentelira 1 year ago
We had unfettered free markets? Really? When Mr. YT?
SeaWolfe59 1 year ago
rush fuckmouth holds that cigar in his mouth like its a cock. he seems happy about it too.
connecttro 1 year ago
@connecttro Typical liberal. If you don't have any facts just say something mean and disrespectful. I used to do that also. However I graduated from 4th grade a long time ago...
tonyrbutler 1 year ago
@tonyrbutler A typical LIBERAL is to say something mean instead of using facts? Do you live on this planet?
Teremei 1 year ago
@Teremei YOU RIGHT WING PIECE OF GABRGAE!
LeftWingPOG 1 year ago
@connecttro YOU HOMOPHOBIC RIGHT WING EXTREMIST!!
LeftWingPOG 1 year ago
In the words of George Carlin sometimes a cigar is just a cigar but sometimes a cigar is a big brown dick.
Crazydog7 1 year ago 18
This has been flagged as spam show
you are a tool.
studes4ever 1 year ago
Dittohead makes me think of Pokemon :D
Colinski03 1 year ago 2
It wasn't the minorities that caused the problems or the banks it WAS the insurance companies issuing credit default swaps.
ligerman30 1 year ago
Rush Limpdick is and will always be the turd that clogged the dittoheads brains!
Thank God most of us are born with plungers!
joetylerdale 1 year ago 10
Many people believe the financial disaster with the derivatives was caused by poor people borrowing money they could not pay back. That is total BS. People will believe any nonsense if it makes them feel good about themselves and rich people and gives them a group to hate.
klard 1 year ago
@klard Derivatives are the problem. The ever growing surge in derivative trading has pushed the balance point of speculation to casino levels. Add into the mix unregulated money lending and you have a recipe for disaster.
zebbedi 1 year ago
@zebbedi You are right, a rich Cabal of speculators has created a mechanism to allow them to pile up huge amounts of cash and cashier the economies of nations one by one. They got the USA Government to give them trillions of dollars borrowed by the taxpayers which they are using to perpetuate their scheme.
klard 1 year ago
Limbaugh believes there should only be a few rich people and the rest of us should dig through their garbage and eat that to survive.
klard 1 year ago
The people that "knock" Rush just do not understand! They voted for Obama and they think everything is O.K.!
spiritranchinfo 1 year ago
@spiritranchinfo I didn't vote for Obama, and i think Rush is a bloated jackass that plays off the insecurities of rednecks. The world is not divided into Obama fans and Rush Limbaugh dittoheads, grow up.
JACKtheRIPP3R189 1 year ago
@JACKtheRIPP3R189 Well then you obviously voted for a senile out of touch old man and the dumbest women ever to hit the national political stage. Congratulations, you're a dumbass.
NewYorkCityUSA7 1 year ago
@NewYorkCityUSA7 Are you insinuating i'm a republican? Be serious. As it happens i didn't vote at all in the last election. Congratulations, you assumed something for which you had no supporting evidence, and then had the cool cheek to call me a dumbass.
JACKtheRIPP3R189 1 year ago
I think everyone failed. Those doing the banking and t hose who were supposed to stop them. Now I don't listen to Limbaugh on a regular basis, but I believe he said that people go houses that couldn't afford them, and race wasn't brought up, but like I said heard it that one time. Lot of things need to change and most importantly people's morality.
NJburbsSeeker 1 year ago
rush limbaugh is a big blow hard
dvtrue 1 year ago
Limbaughs endless stream of negativity........ just dumps cortisol in my blood.
i feel sick inside when i listen to him. he wouldnt come out and run for anything...... heck no..... he can blather on the golden EIB microphone......make millions and not add anything constructive to the country....... you guys in the states shave to stop polarized politics and fix your country.... TOGETHER.......
mysticradio 1 year ago
Hey um young turk bro. do you hate all white people you racist fucker peice of shit? you have never criticized a black, jap, mex, mus, jew, turk, or anyone other than Christian honkys. Hey i think your moms calling shes got cookies upstairs so you can get out of her basement with your phony bullshit "news studio". like is that a joke? Don't be jealous of Rush because he's more important you fuck stick
TrevorRawks 1 year ago
The reason Rush protects Wall Street is because he is a multi-millionaire. You can't blame him for protecting his own interests. The working class taxpayer bailed the Wall Streeters out when they failed due to their greed.
No one should ever buy this as truth. It was a gov't. failure due to lack of oversight. Rush is a great comedian, unfortunately many believe his crazy comedic rants are based in fact.
poohbudpita 1 year ago
I'm sure your followers are eating this drivel up. Both of them.
SixCards54 1 year ago
I could say the same thing about Obama. Blah, blah, blah.
My father and I fought to make America free. And now we have socialists in charge.
Study history and grow up.
SixCards54 1 year ago
@SixCards54 DUMB ASS read a book
lendada13 1 year ago
@lendada13 I read books all the time. How come you liberals are so hateful? When you can't debate with facts you resort to name calling. As I said before, study history and grow up.
SixCards54 1 year ago
@lendada13 No. You're the dumbass. You need to read a book and quit believing liberals like Obama.
heidingerster 1 year ago
@heidingerster Like I said DUMBASS
lendada13 1 year ago
yeah the answer is less regulation with a government controlled banking system that uses the only money allowed by the constitution and that's gold
you said it yourself if you watch yourself, regulation doesn't work
do you hear urself? let the same people do w/e they were doing just tell them not to do it
The most important thing here though is that the banks are the problem with their ability bail out these big companies that their friends own and run.
MirageScience 1 year ago
Rush Limbaugh is the absolutely most delusional, simpering gleeb of all time. Who died and left him in charge? Whoever it was should be exhumed and re-killed for such an egregious error in judgment. I hereby submit that NO one left him in charge, and that he is simply taking over the right wing territory because his urine smells a lot worse than the average conservative.
MaxRaincloud 1 year ago
For anyone who hasnt heard of the Steve Jackson Illuminati card game they should check it out....freaky parallells
one800rob 1 year ago
and here is the truth,
Chris Dodd and Barney Frank changed the way ISSA loans work so that banks should not be checking to make sure people could pay off the loans before handing them out. Government regulation that was allowed when Bill Clinton signed that affordable housing bill into law that gave congress the power to regulate the banks in this manner
M2sterK1lla 1 year ago
Heres some truth:
Rush Limbaugh: 20 million listeners a day
TheYoungTurks: 131k subs??
M2sterK1lla 1 year ago
@M2sterK1lla Yes.. because Rush Limbaugh has been around since the 80's doing his thing and he appeals to a great swath of old white idiots.. TYT is brand new and his listeners aren't delusional morons and so 1 of them counts for 1000 of Limbaughs subs.. o.o
ShaktipatSeer 1 year ago
@ShaktipatSeer
Keep telling yourself that, it comforts me to know that young people are still as misguided now as they have been since beginning of history.
"If you're not a liberal when you're 25, you have no heart. If you're not a conservative by the time you're 35, you have no brain."
alfimon 1 year ago
Cenk for president
BlikeNave 1 year ago
northernson99 1 year ago
@northernson99
It already did. It severed the connection between his brain and his mouth, so his brain reconnected itself through his rectum and back up into his mouth. That's why everything he says is a load of shit.
Suzaku000 1 year ago
hope he swallows that cigar soon and his nasty, evil gut explodes
kimkongaroo 1 year ago
Someones gonna smoke Rush's ass!
datniggami6 1 year ago
@datniggami6 ... I have yet to whine. Sometimes the truth hurts, I understand. Just like when you call an obvious liberal a liberal, they deny it. It's comical actually. Govt regulations kept the financial industry in line? I'd love to hear any proof you have to that. Considering we had 12 rescessions since WWII, that wouldn't be anything to brag about anyways. Just throw stuff against the wall and see if anything sticks huh? LOL
aSingleDallasGuy 1 year ago
Who in the government blamed Capitalism? |:
SupremePenguinTone 1 year ago
@nolan067
no one is seeking to regulate small businesses,- the new bill that would help us regulate the financial system only applies to nonbank financial companies whose total assets are over 50,000,000,000. So the bill largely does not apply to banks, it is more focused on big wall street companies and only if a council and a board of governors vote in favor of supervision, which is a very stringent process.
The regulation that is being sought here is very limited- it acts as a safety net.
LtBeefy91 1 year ago
keep smoking Rush
sutircomed 1 year ago
rush is right and you are stupid!!!
glendaweil 1 year ago
@glendaweil shush dittohead....
Kaienluminyr 1 year ago
Businesses need to fail so they can get their heads out of their asses.
electricfoxx 1 year ago
Sorry but TYT, you are wrong.
Regulation is a large part of the problem. We need a real free market, not to be regulated by the government. In order to regulate, you need lots of money, too much regulation costs too much money.
It's not the banks fault either, its the federal reserve that is the one that created the toxic assets. You are ignorant.
nolan067 1 year ago
@nolan067
Ok. let's go with your idea- no regulation.
Now, how are we going to stop financial institutions from crafting synthetic cdo's, than lying to investors about who structure the securities in the cdo so that they then invest while a hedge fund (who coincidently designed the securities in such a way that the would purposely fail) bets on that cdo to fail, as plan, and shorting the hell out of the market.
How do we stop that without a rule saying "you can't do that"
We need regulation.
LtBeefy91 1 year ago 3
@LtBeefy91
There are some cases in which it is obvious we need regulation.
We don't need to regulate small businesses so they can't compete with larger busiensses, especially ones like Wal-mart.
nolan067 1 year ago
@LtBeefy91
Preventing fraud, and other forms of theft, is the very definition of the free market.
"Regulation" starts when government people do NOT protect property rights but violate them, and do not enforce voluntary contracts but impose UNWANTED clauses on them.
The very fact that you have to resort to examples of dishonesty which violates property rights and which therefore regulation is MOST DEFINITELY NOT there to prevent is evidence enough that it is illegitimate.
Szentelira 1 year ago
i wonder when these turks are gunna wake up...
ConsumedByDrums 1 year ago
@ConsumedByDrums to what?
dangerouslytalented 1 year ago
@moltenchromium Pardon my hyperbole. The point is he could have enacted legislation if he understood the word compromise as well as he claimed to, and bothered to listen to anyone but yes-men. Bush's 'my way or the highway' routine is just as much to blame for the foreclosure crisis as anything else. Like 9/11, he didn't even see it coming.
ismeme 1 year ago
@moltenchromium He couldn't reform SS because several Repub senators didn't back him on his plan to privatize it, thank goodness. And oh my, he didn't get every judge he wanted? Poor guy. Maybe he was too busy replacing everyone else in government with his purity-tested ineffectual cronies.
ismeme 1 year ago
@moltenchromium If Bush wanted to increase oversight, why didn't he? He did everything else he wanted for 8 years.
ismeme 1 year ago
@ismeme ... Simple. Congress stepped up it's push to get every american into a home. This extra push started in 1998. So, to make this happen freddie and fannie loosened lending requirements to drop fico score requirements for example and created the well known subprime category. They told lenders to start accepting much lower credit ratings than they ever have before and fannie and freddie would guarantee them backed by our tax money. Ta-da!
aSingleDallasGuy 1 year ago
@aSingleDallasGuy That simple, huh? Wow. Makes you wonder why Bush wasn't keen to compromise on a 2003 proposal that had broad Repub and Dem committee support to place an independent regulator within Treasury for Fannie & Freddie. Or why Bush refused to regulate lax private lending practices, or to see the looming foreclosure crisis until it exploded in his face.
Worst. President. Ever.
ismeme 1 year ago
@ismeme ... Yes it is that simple. Why do you assume I think Bush and his administration was harmless in this? There's no doubt those guys screwed up as well as Clinton's administration for their liberal housing push. But your blame on Bush as if no one else had anything to do with it is laughable. Bush was neglagent but he sure didn't create the mess. Why can't you admit that congress is at fault when any insider knows this to be true?
aSingleDallasGuy 1 year ago
@aSingleDallasGuy "Why do you assume I think Bush and his administration was harmless in this?"
Um, because you haven't mentioned them?
Here's who's at fault: The Rs and Clinton for repealing Glass-Steagall. Bush for pushing HUD to meet his goals of homeownership for 5.5 million minority families. Both parties for all the deregulation, making it possible for boatloads of dirty money to be made off subprime loans. And all the lenders/borrowers who screwed the system.
Not just the DEMS.
ismeme 1 year ago
@ismeme ... LOL, then why was your original nonsense post just mentioning banks? Let me guess.... They make a profit right? You are against profits in a capitalist society I see. Yes, a typical liberal who whines about private businesses and adores the govt... Well, only if the figure head of that govt is a democrat. Do I have this about right? You know I do. Anti capitalists are very easy to spot.
aSingleDallasGuy 1 year ago
@aSingleDallasGuy Since I'm a small business owner I'm hardly against capitalism. It's unregulated capitalism that annoys me and most Americans. Except RW extremists like you, of course, who whine constantly about the gov't stealing from you - unless it's a Repub gov't - but beg for more when big business does it.
You really need to work on your shtick. Try thinking for yourself just once instead of parroting what you've been told to believe. Or maybe I'll just throw you a cracker.
ismeme 1 year ago
@ismeme .... So anyone who dares disagree with you is a RW extremist? Can't you libs get things straight? The new "in" thing is to call everyone you disagree with a racist. You are so last year! Yes, more govt regulations is what's needed here right? That will and has solved all our problems hasn't it? Yes, those EXPERTS in govt really know what they are doing. It has worked just peachy so far! I guess they missed the subprime thing. The govt workers must have been watching porn at work eh?
aSingleDallasGuy 1 year ago
@aSingleDallasGuy So you feel free to make derogatory assumptions about me, but when I return the favor the whining begins? Typical.
Gov't regulations kept our financial industry in line from 1932 through to the S&L crisis of the late 80s. That disgusting farce happened only because the parties began chipping away at regulations in the early 80s. Yes, more gov't regulation is needed.
ismeme 1 year ago
@ismeme ..... How much more regulation is needed? Is this like having 20 overlapping laws? So, lets add a 21st law. Yeah that ouight to do it! Your faith in govt is laughable. Mostly because it's the very same govt who has caused the problem. They set this all up by their incompetence and by putting politics ahead of reason. So, your solution is more of the same! Talk about a liberal merry-go-round. It's insane! And you say its the govt that kept the financial system inline? LOL
aSingleDallasGuy 1 year ago
@aSingleDallasGuy What's laughable is your notion that allowing big business to regulate itself works. That belief has been held and acted on by our gov't over the last 3 decades in increasingly loosened regulations and lax oversight. Fact: it's a spectacular failure. But you go right on electing people who share your belief in unregulated capitalism. Maybe you'd like to try some unregulated democracy too. Personally, I'll keep our Constitutional Republic.
ismeme 1 year ago
@ismeme .... I recognize that govt has a role to oversee things. The problem you fail to admit is that govt itself now needs to be overseen! Incompetent boobs get elected and suddenly they are experts in all things. They are torn between doing what's best for the country and satifying their political advancements. There was a time where most politicians would side on what's best for the country. Now we have a system designed to fail. You think more regulations is all that is needed. Good grief!
aSingleDallasGuy 1 year ago
@aSingleDallasGuy Well, on that you get a big "DUH" from me. I've been preaching the dangers of a bought and paid for gov't for years. FYI, we - the American people - are supposed to oversee the gov't. Kinda hard to do when the corporations have been allowed to own everything from the voting machines to the people we send to Washington.
ismeme 1 year ago
@ismeme .... True enough. But if we are the people arn't corporations and those who work for the part of the same "we are the people" slogan? So, on one hand you sound logical almost a centrist and then your left brain kicks in and there we go with the nasty capitalist pig corporations again. I would agree that lobbyists have too much influence in politics. BUT whose real fault is that? Again, you bypass politicians as if they innocent in all this. They allow every bit of it, do they not?
aSingleDallasGuy 1 year ago
@aSingleDallasGuy Did I not write several messages ago that both parties have their hands in this? Did I not say immediately previous that our gov't is bought and paid for? Did you think I meant the curtains? It seems to me that the problem is not my "left" brain but your rather single-minded one. As quick as you are to blame the gov't you excuse the corporations. When a criminal is helped to escape by his guard, we don't blame the guard and excuse the crook. Both are dealt with.
ismeme 1 year ago
U r a moron.
dover6657 1 year ago
I know people sometimes use the word sack of shit in a degradeful mean spirited way.But in Rush's case he literally look's like a bag of shit.that sit's in an air conditioned office with no flys in site.But he has the bag of bones Tea Party on his side.They have nothing better to do with the rest of their days except listen to a bag of shit on the air waves.
Useyno 1 year ago
.
***The problem with Rush is that even when he's right on an issue, he turns a LOT of people OFF because he's SO friggin ARROGANT.
He ONLY appeals to an already converted base, but is unable to appeal to or convert over anyone to his way of thinking from outside of that base.
.
RonPaulRevolution4u 1 year ago
Its all so simple. I don't know how Greenspan missed it. I can only guess that he was only focussed on the banks since that was his job. He just left the rest of the financial market to tend to itself. The real cause is the arrogance of our elected officials. Since they don't represent the citizens, they only represent the party
AEVautomatic 1 year ago
@AEVautomatic Don't forget the mathameticians, that were hired to try and figure out the mess, nobody could understand what they did. You hit the nail right on the head, when are you running for office!
Paladin601 1 year ago
@Paladin601 Im suprised they havent removed this video to hide that they made it.
AEVautomatic 1 year ago
@AEVautomatic They won't, just like they are complaining about the blind following of the dittoheads, there is a blind following of the otherside. I remember all this coming down. People said could not get loans. the gov't said they would step in if the banks didn't do anything about. The problem will not be solved, the hole will just get deeper.
Paladin601 1 year ago
@AEVautomatic if People think this president or democratic controlled congress are going to screw their largest campaign donors, the are in for a big surprise.
Paladin601 1 year ago
@Paladin601 I doubt it they will just make a fake show to the morons and they will believe it. Obama will bash the banks the banks will have already had their short positions because they new it was coming. They will squeeze the shareholders, and the mass people will think its real.
AEVautomatic 1 year ago
@AEVautomatic it one big game, "stump the taxpayer"
Paladin601 1 year ago
@Paladin601 Its a dog and pony show, lol
AEVautomatic 1 year ago
@AEVautomatic and it going to get worst with nov election coming up. they realize they screwed up with health care now they are scrammbling to save face.
Paladin601 1 year ago
But, poor people can't afford a mortgage rate of 11% when everyone else is only paying 6%. So for the product to provide normal mortgage rates, that extra risk adjusting premium had to be managed some other way. Enter AIG and company. Here, they masked over the inherent risks by putting an insurance policy on the bonds. They said to whomever bought the bonds, they would guarantee any losses over a certain percentage
AEVautomatic 1 year ago
@AEVautomatic Then the insurance company only took 1 or 2% to provide the insurance. This is equivalent to leveraging at 50-100:1. These bonds with basically zero risk became very attractive and sold at higher and higher prices in the market. This caused a flood of money to flow into the mortgage market at low interest rates and they would accept "any" borrower. Unfortunately, this approach caused the bubble which caused the demise of the bonds and AIG itself.
AEVautomatic 1 year ago
So, in sub prime, you have a new class of mortgagors with low credit scores, unknown job status, 0% down giving a risk rating of less than 6 and yet unknown expected default rates. The market would probably demand prime plus 4% or more for an interest rate to account for the poor quality of the borrower.
AEVautomatic 1 year ago
to answer young turkeys, with government insisted that the market develop systems to allow "poor people" to be able to buy a home. Not only did the government insist on it this was forced on FNM and FRE. The government forced them to do risky loans and then allowed them to leverage 50:1. In answer to the insistance of government, the financial firms came up with the mortgage bonds
AEVautomatic 1 year ago
Does the current health bill do ANYTHING to address the cost of insurance. YES, it insures the cost will rise even more. Three factors to cost, and not one addressed in that bill. Instead, it just says we will cover those not covered and subsidize low and no income people, people cannot be turned down for preexisting conditions, much new government jobs to run, and lots of pork. That assures most americans a big increase in health care costs
AEVautomatic 1 year ago
@Freethinker94 old son to most Americans Hoover is something your maid uses to clean carpets/rugs!
grahamkeithtodd 1 year ago
@TylerNul1 old son i doubt your quite the shilling as we say back in the UK
by this i mean your a fucking dickheaded racist cunt!
your idiot in charge b
ush fucked your country over and you are so fucking DUMB you can not see it! now fuck off and go play in fast traffic!
grahamkeithtodd 1 year ago
@moltenchromium and yet you continue it !
unelmitchell 1 year ago
@moltenchromium being a smart ass correcting people don't make you look smarter yourself. LOL
unelmitchell 1 year ago
yup government causes the problem
AEVautomatic 1 year ago
@AEVautomatic them not regulating the banks have done it. there is things that are called laws. but they didn't regulate those laws to the banks. they just let them have there way.
unelmitchell 1 year ago
@unelmitchell Hmm, in 1993, the government allows freddie and fannie to buy banks mortgages from banks so the banks have more money to lend in order to comply with the governementsn new mandates about increasing minority owners regardless of risk. That was mandated by the goverment.
AEVautomatic 1 year ago
@unelmitchell 1999. The government repeals the what was it called, GLASS-STENGALL act that separates investment banks from commerce banks so our commerce would never be at risk. AND in the same year the goverment allowed banks to leverage past the 12 to one they were allowed then to 50 to 1
AEVautomatic 1 year ago
@unelmitchell Why does insurance go up 10% every year. Government regulations are added every year as to what insurances have to cover is the main contributor
AEVautomatic 1 year ago
@unelmitchell If you have work you can ship jobs overseas and make more profit, you better or else someone else will and put you out of business and then we have no jobs at all here. Sad but true fact. This is a direct result of government regulation.
AEVautomatic 1 year ago
@unelmitchell Howver, that all being said, it is still us that is responsible. We elect leaders. WE VOTE for more benefits from the limitless treasury. WE do not vote for people who cut back goverment spending. Even today, we are only voting in MASS to keep the lesser increase in government spending, not reverse it.
AEVautomatic 1 year ago
@unelmitchell by combining the two types of banks, regular commerce is exposed to investment risks not normally associated with commerce. If banks make the wrong investment decisions, their clients (regular businesses) who depend on these banks for loans end up suffering when the the commerce banks are no longer able to offer the kind of credit these businesses depend on on a day to day basis.
AEVautomatic 1 year ago
@unelmitchell It would be like the credit card company unilaterally decided to decrease your overall credit limit from 50,000 to 10,000 when you typically make purchases between $25-45k a month and quickly pay off that amount every month when you get the money. This is why the credit crisis supposedly threatened to shut down the economy and people were fearing a catastrophic domino effect resulting in a very severe decline into a deep depression).
AEVautomatic 1 year ago
@unelmitchell When you leverage yourself 12:1, it's like buying a $12 share of stock by putting forward $1 and taking out a loan of the other $11. If the stock goes from $12 to 11, you just lost your entire investment, and if it goes any lower you go into the red. If the stock goes from 12 to 15, you tripled your money on only a 25% gain in the stock. The greater the leverage, the greater the profits and the greater the risk for total and complete bankruptcy.
AEVautomatic 1 year ago
@unelmitchell Now substitute the word "stock" for real estate, and add 4 - 9 more zeros to the end of the price and an assumption that real estate values never go down and people always pay their mortgages on time, and you can see where the problem comes in.
AEVautomatic 1 year ago
@unelmitchell the mainstream media have repeatedly blamed deregulation despite the fact that the financial industry is saddled with tens of thousands of regulations despite the fact that the sort of deregulation to which critics refer did not entail moving toward a free market.
AEVautomatic 1 year ago
@unelmitchell but rather encouraged or required, like with the Community Reinvestment Act banks to engage in unsound business practices which they would be unlikely to undertake on their own, especially without further government distortions, such as the Fed acting as a lender of last resort.
AEVautomatic 1 year ago
@AEVautomatic i have lefted you a comment on your page. i need you to help me with something if you don't mine ?
unelmitchell 1 year ago
The truth is, washington is wall street and wall street is washington.
RedDelPaPa 1 year ago
we HATE YOU RUSH....there are the nutjob 10% who lick your nutsack...but the rest of America HATES YOU...
58tkdmike 1 year ago
free market = corporations controlling the people. we do not elect them, they have 0 concern for their customers, driven only by profit.
"socialism" / regulated market = corporations are regulated heavily by representatives elected by the people, companies cant get "to big to fail", SAFER products for people, more accountability.
free market is an absurd idea, people hate the idea of companies 'buying' politicians, well wtf do you think happens when corporations get bigger than the govt?
gofudgeyourselfx 1 year ago
_._
Dear Tea Party Crashers,
Keep up the good work. Our cartel of teachers' labor unions have done the heavy lifting for you, so there's a sea of true-blue morons out there for you shills to dupe. Keep aping Republicans, but be sure to pepper your rhetoric with the racist lingo in which our party is so thoroughly brewed and steeped. Eye of the donkey, comrades!
Truly yours,
Rahm "The Ballerina" Emanuel
CRASHTHETEAPARTY . ORG
TylerNull 1 year ago
Rush is 100% right. It's the govt's fault for the mortgage industry issues because the govt opened the door by regulations to force banks to lend monry to people who have no business being handed a loan. Fannie Mae and Freddia Mac guaranteed these loans. They set out the guidelines that banks followed. Fannie and Freddie is an arm of the govt. Barney Frank and Cris Dodd in particular are at fault for allowing this to happen.
aSingleDallasGuy 1 year ago
@aSingleDallasGuy No one forced lenders to make bad loans - they did that all on their own when they ran out of good borrowers. Hey, Wall Street was happy to buy the bad loans and sell the risk on, it wasn't going to hurt THEM, so why not?
If you dittoheads would just once stop and consider the huge problems your willful ignorance perpetuates in our country, we might actually manage to fix things instead of making them worse.
ismeme 1 year ago
@ismeme .... Total BS. The govt requires lenders to lend to minority groups based on the CRA bill in what is called HMDA reporting. Lenders must produce full documentation to the govt on not only who they denied loans but their race, ethnicity and sex so the govt can see if they feel lenders are discriminating. Thus lenders bend over backwards to give loans to those with very shakey credit. Thus here we are. So you are wrong!
aSingleDallasGuy 1 year ago
@aSingleDallasGuy What's BS is your understanding of that 1977 Act. For example, I'd simply LOVE to hear your explanation for the 20 years that passed quietly after it was enacted, and for the sudden surge in high risk lending from the late 90s on. I suspect your answer will have something to do with ACORN and Citibank and Obama.
I'd also like to hear why Bush and the Repubs, who held power during this time and could have passed reform if they wanted, didn't. Please mention Barney Franks. lol
ismeme 1 year ago
@ismeme ... 1977 set the precedent for Fannie and Freddie to come in and guarantee loans based on THEIR CRITERIA. So, a bank or any lending institution bases a loan approval on guidelines set by Fannie and Freddie who say if the borrower meets these requirements, we will back your loan. So, the banks follow these guidelines. Fannie and Freddie take order from govt. So, it's the govt's fault period. In your world the fault is at the bottom, while the truth is the fault is at the top.
aSingleDallasGuy 1 year ago
@aSingleDallasGuy Not what I asked.
ismeme 1 year ago
The fact this guy actually says at 1:36 of this vid, We had that (unfettered free markets)what happenedglobal economic meltdown.
This is such an incorrect statement. Unfettered? Really? The Fed, Fannie, Freddie, AIG, Moral Hazard, DC Bailouts of Auto and Wall Street, etc?
Yep, sounds unfettered to me.
Such a clown this guy is
tmcgeo39 1 year ago
The worst thing to come out of the economic situation over the last few years is the way the Clueless use it as indictment on markets and capitalism. And fools eat it up.
tmcgeo39 1 year ago
This guy is an idiot. The only reason he mentions Rushs name is for ratings. This guy has been reduced completely out of the market and has had to resort to "you tube" to get face time.
usaleftistsareidiots 1 year ago
@usaleftistsareidiots So how does your "argument" proves him wrong?
paolo27th 1 year ago
watch 'bad boys are losers' on my channel. let the good boys win!
GirlTalkStation 1 year ago
Banks were forced to give cheap loans to poor credit "poor people" (i million loans went to illegals) as required by the CRA legislation signed by Carter and enhanced by Clinton. The loans were secured by Fannie & Fredie (the government) wich in turn gave bribes to politicians like Dodd, Obama, Barnie etc. to stop legislation introduced by Bush to regulate and stop it in 2004. The loans were sold and resold many times over. So tell me who is at fault you ignorant stupid turk?
alwaysright5 1 year ago
@alwaysright5 The Repubs were in control of both houses at that time and never attempted to impose tighter regulations on Freddie and Fannie Mac. A bipartisan bill was introduced in 2005 by Barney Frank and Mike Oxley, but it went nowhere because Bush said he'd veto it. Check the legislation instead of parroting lies.
ismeme 1 year ago
@ismeme Sorry but that is wrong. The repubs never had a super majority so they could not pass anything without dem support. McCain introduced a Bill in 2005 but was voted down. Bush brought the government auditors to congress for hearings in 2004 and they were shouted down as "racists". Do a search in YouTube with the words "2004 Congress Fannie Hearings" and you will see Barnie, and other scumbags denying that there was a problem and accusing them of being racists.
alwaysright5 1 year ago
@alwaysright5 What bill did McCain introduce? I've just looked and can't find it.
If you're talking about S.190, The Federal Housing Enterprise Regulatory Reform Act of 2005, McCain was only a co-sponsor. Hagel introduced it but couldn't even get full support from the Repubs; even Bush didn't like it. It also wouldn't have prevented the housing crisis because it did nothing to tighten oversight and prevent fraud.
ismeme 1 year ago
@ismeme Chuck Hagel sponsored a Bill in 2005 to regulate fannie and freddie and was co-sponsored by McCain but was stalled by dems and never made to the floor. Actually you are doing a good job trying to spin the issue in favor of the dems. But please do me a favor and do a search in YouTube with these words: "2004 hearings fannie" you'll see 100 videos with Maxine Waters, Barnie Frank and the rest of the maggots saying that Fannie and Freddie are doing "great" under Frank Reigns.
alwaysright5 1 year ago
@alwaysright5 I'm not spinning anything, I'm adding facts to the cherry-picked ones you keep regurgitating. And the facts show that no one person, agency, corporation or party is to blame - they ALL had a hand in creating an environment for the perfect storm to happen. So why don't you get YOUR head out of YOUR ass to help your country instead of proving you're part of the problem.
ismeme 1 year ago
@ismeme Why don't you get your head out of your ass. The legislation was block by Barnie Frank who said "There is nothing wrong with Fannie and Freddie. Check the videos, if not keep your head in your ass as they are the same.
alwaysright5 1 year ago
@alwaysright5 It was also blocked by the Congressional Black Caucus, who declared the attempt "racist."
dgonz26868 1 year ago
@alwaysright5 Nice.
ismeme 1 year ago
@alwaysright5 Google Bush's 2002 remarks to HUD on his goal of spreading home ownership to the minority masses with the welcome help of Fannie & Freddie.
The American Dream Downpayment Act of 2003 followed. Bush-appointed HUD commissioner Weicher was proud that they had eliminated the statutory requirement of a minimum 3% down payment for FHA-insured single-family mortgages for first-time homebuyers. F&F were forced to take on these riskier loans to meet Bush's goals.
ismeme 1 year ago
Would be nice to see these guys do some news, instead of doing the same type of show Rush does.
GimmeSomeTruth1971 1 year ago
Young Turkeys sucks balls. So does Rush Limbaugh.
JawsJaws 1 year ago
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k221tizo1111 1 year ago
Cenk, but the government did cause the problem. Remember the repealing of Glass-Steagall act? The commodity futures modernization act? The law passed in 08 to allow banks like Goldman Sachs become bank holding company and have access to the fed window at 0%? The bail out?
These were all government acts, if the government did not do any of those, we probably would not have been in this crisis. Now do some things need reform? Of course, we need clear accounting rules, and transparency.
CitizenXification 1 year ago
well, he said it was because of the government.. now who was president in 08 Rush?
CharliePoet 1 year ago 3
I hate to say this but he is right thinks to Ronald Ragan how took regalations away after the saveings and loan debocal in the 80s and sence then the banks went crazy
shawn12ification 1 year ago
Rush is partly right. The Republican appointed SEC watched porn instead of regulating. The Big 6 banks control 60% of the US Gross National Product.
AnotherCuppaCoffee 1 year ago
in other words your say ing Rush was right, the regulators were asleep at the wheel. You are the one that is ignorant.
Paladin601 1 year ago
@Paladin601 i have read your comment and you are more then right about that. you did a great job showing these brainless wingringers the facts. good job !!!!
unelmitchell 1 year ago
Wow nice title. Young Turds are beyond hateful, sedition, and inciting Violence.
papavalium 1 year ago
@papavalium bush limballs sounds much better. it just fix him perfectly. inciting racism and volence an race baiting with LIES , CONSPIRACY THEORIES. I don't know who is worse Beck or Limballs ??? both of these are evil racist piece for dog shit. there you go two fresh turds.
unelmitchell 1 year ago
At least he's not calling for more terrorist attacks like McVeigh. I think he learned his lesson after that.
Hopefully soon he will drop the republicans and join the rest of US in trying to get justice for the attacks of 9/11. I have heard O'Reilly and Beck attacking 9/11 victims on Fox (which makes sense, they are heavily funded by Saudi terrorists) but I haven't heard Rush attacking them. I still think he believes we should get justice for 911. He would be one of the few republicans who do.
raouldukelives 1 year ago
@raouldukelives ALSO I HAVE HEARD ANN COULTER ATTACKING THE 9/11 VICTIMS. JUST LIKE THAT ASSHOLE LIMBAUGH ATTACKING THE HURRICANE KATRINA SURVIVORS. I AM A KATRINA SURVIVOR , I HATE THAT FAT RACIST BITCH. THATS A TRADE MARK OF A REPUBLICAN ALWAYS ATTACKING THE VICTIMS. THAT COMES TO SHOW YOU THAT THEY ARE HYPOCRITES WHEN THEY CALL THEMSELVES CHRISTIANS. ALL THOSE COCKSUCKERS REALLY NEEDS TO BURN IN HELL. STARTING WITH THAT PIGGY LIMBAUGH.
unelmitchell 1 year ago