Cal Cunningham: End Wall Street Abuses

In the fifth installment of his "Voices of North Carolina" video series, Senate Candidate Cal Cunningham introduces us to Rusty Triebert, who lost his job and his home in the recent financial meltdown.

Category:

News & Politics

Tags:

• Cal Cunningham
• Richard Burr
• NC-SEN

[mebits]

These abuses he speaks of are governmental abuses, not Wall Street Abuses. It was the Government who demanded that the Financial Institutions give bad loans to risky investors. There are laws on the books now to protect consumers, unfortunately, the government doesn't feel the need to abide by them.

Just remember... the U.S. Government is also, "Too Big To Fail."

[crasmane1]

I'm not a North Carolinian, but my advice is this: reinstate Glass-Steagall immediately.

The financial sector and Wall Street will scream bloody murder, but a structural reform is necessary.

In the 1960s, this country was prosperous, with prosperity across the board.

Union membership was high.

The economy and many industries were regulated.

The top tax bracket was 75%.

What happened?

The rich ruled stupidly. Now we must undo the stupid.

[VoiceOfReasonQQ]

@foxh8er i do agree, however....a simple expansion of Medicare (even in graduated steps over ten years to prove it works) would have undermined most of the right wing lies and saved more money and lives...again..."i don't want to play the game better...i want to end the game"...he did say that...he is not doing that...if i were a Green Party Chair i would reach out to Progressive using the following..."I might be Green, but I ain't Blue"

[foxh8er]

@VoiceOfReasonQQ He did do one thing, however..

He did sign health care reform into law, and while it wasn't as good as it could have been, it is a step in the right direction.

Ted Kennedy would have been proud.

[holycrapyousuck]

Forget ending Wall St Abuses. Just end Wall St.

[robrrash]

Yeah? I don't live in NC, but I wonder when politicians will start sharing the misery: cut your government pay & pension, and use the same medical insurance the rest of us have to use; live in a modest home with modest furnishings & a modest car; maintain your integrity "no matter what"; and hold your fellow government workers accountable to do their jobs.

Sounds to me like you're spewing the same old b.s. It doesn't sound to me like you know what's really going on!

[mebits]

@DojoNDude : I've read the bill. Have you?

[DojoNDude]

@mebits : What REAL research have you done? Name some sources that aren't fringy right-wing propaganda. Reality-deniers like you are confusing good Americans.  Anybody following this thread google "CRA and the financial crises," or go to my page and watch the videos. Don't be spoon-fed lies by the likes of mebits. Also check news sources and factcheck. The Truth is Out There... and mebits doesn't want you to know it.

[brainfart101]

@CyBeRTRoNFLuX Most corporations get out of paying so much in taxes it isn't funny. They're sending jobs overseas because slave labor is a lot cheaper than paying decent, livable pay to US workers. Arrogance and greed running wild. They don't owe their workers a damn thing, they don't owe the communities a damn thing, and they don't owe the country a damn thing. It's all take, take, and take, and they'll be damned if they're going to give anything back.

[brainfart101]

@crasmane1 You hit the nail on the head!

[mebits]

@DojoNDude: Do some real research. Find your own proof. Don't let some semi-liberal think tank turn you into a bobbleheaded yes man. Don't just repeat what the punditocracy tells you to ad nauseum. The truth is that the derivative instruments that were created were too complex for most investors and bankers, and the banks took on the debts without understanding the real risks. They didn't do their due diligence, but it didn't matter. The investments were GUARANTEED BY THE FEDERAL GOVERNMENT.

[DojoNDude]

@mebits: I will repeat that the FED Board of Governors in cooperation with the Brookings Institution investigated the matter and found that CRA loans made up only a small percentage of sub-prime lending and did not relax underwriting standards. That means that the majority of sub-prime loans were opportunistic, predatory loans that were then turned into Wall Street instruments, given false triple A ratings and then sold to investors world-wide. Your just the mouthpiece for Wall Street fraud.