Senate Republicans Block Nominations of Key Administration Officials

On the Senate floor this morning, Senate Majority Leader Harry Reid criticized his Republican colleagues efforts to block critical nominees within President Obamas administration. While Republicans delay these nominations for the sake of politics, important work is stalled.

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• Reid
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• delay

[jjrglobal]

You are an intellectual midget my friend. CCCCCYA

[phillipmarch22]

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

[jjrglobal]

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

[phillipmarch22]

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

[jjrglobal]

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

[phillipmarch22]

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

[jjrglobal]

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

[phillipmarch22]

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

[phillipmarch22]

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

[jjrglobal]

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