Byron Dorgan’s Crystal Ball

Many experts point to the 1999 Financial Modernization Act as a cause of our current financial crisis. Senator Byron Dorgan opposed the act then and predicted our current crisis. More recently he has questioned the $700 billion bailout plan.

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News & Politics

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• act
• american
• anp
• bush
• byron
• crisis
• dorgan
• financial
• george
• glass-steagall
• goldman
• modernization
• news
• project
• sachs

[Xaxby]

He didn't have a crystal ball. He had courage and integrity and refused to be bought off. People like Dorgan are a dying breed because as per the law of natural selection if we the people keep voting for these "name brand" big name corporate funded media darling politicians, it send the wrong message to those who try to be honest in that it is very

difficult to compete with big money without compromising.

Stop voting party and start looking at in-

dividuals voting records.

[nyteaparty]

You mean the

Paulson/Geitherner/Pelosi/Bush­/McCain/Obama TARP?

[pcburgh01]

@nubonyx By regulators I essentially meant the SEC; not politicians. Our current downfall was preventable and we are not even half way through it. The tip of the iceberg is exposed, but the underlying chaos will be contained for only so much longer. The checks and balances will prevent total collapse in the near, but I am afraid the contraints on growth will come from the fact that baby boomers will be living longer with much much less as a result of losses incurred in the very near past.

[nubonyx]

@pcburgh01 , they should. The crash in 1929, the thrift and savings scandals of the 70's and 80's and how it came about should be taught to in high school. Then these kids would know what they're going to be dealing with and have the will and means to stop it. Politicians, many of them are complicit and could care less about the American people, but they want to make sure that we foot the bill for their fuck ups. I don't have a degree in economics but I do read and pay attention.

[matilibici]

@pbmdh Well, thanks for the comments, but, all I'm saying is that no matter how wise you are, just having a bad piece of rug on top of your head, makes you look ridiculous! What's wrong with being bold especially when you're in your 60's? What're you hiding? I have a big bald spot on my head, and I'm not ashamed!

[pbmdh]

@matilibici

I'm surprised you even have two braincells to rub together if something as stupid as that distracts you.

[pcburgh01]

I audit; degree in economics. There was total lack of oversight on top of inherint risk. I still wonder if regulators KNEW there would be a collapse but were held powerless because of this legislation. Some relationships in business really should not exist.

[matilibici]

Loose the hairpiece dude! maybe that's why nobody is listening to you! It is so bad, it distracts the viewers from your messsage! got it?

[Zickefoose]

@Zickefoose And there is no need to have a bunch of your employees do what it would only take 1 to do the job. Just like the healthcare bill. They always seems to barely squeak these by. They just get paid to do it and take the political heat so everyone is blind to the real forces of evil behind the picture.

[Zickefoose]

@MovieMakingMan Yes! thats what I am trying to get across to people. Siding with one side or another just hurts the informing part because often people lose complete credibility just because someone is Conservative or Liberal. That's exactly how they want us to act. That is how they are able to do what they do. Noone votes for who they like anymore, most cant even explain a hand full of things about the people they vote for. They just vote Republican or Democrat. It's just a sad world anymore.:(

[MovieMakingMan]

@Zickefoose I know the 2 party system is virtually a 1-party system of whores. But republicans, especially mindless conservatives, are absolute whores to businesses. Just yesterday when a vote in the senate to hold BP accountable only 1 senator objected and stopped the vote, it was the oil whore from Alaska, a republican, who has received about a half million dollars from her oil pimps. We need public financing of elections & severe limits on contributions or the corrupt process will continue.

[Zickefoose]

@MovieMakingMan Corporations own nearly ALL Conservative AND Liberal politicians... Your point is mute for the very fact that they are ALL working for the same people. They DONT work for you, or me.. or our friends. Only Corporate America... THATS IT! People are so blind to the fact that they can get WHOEVER they want in office REGARDLESS of Liberal or Conservative. We just simply keep jumping back and fourth. That;s it! They created this two party system so that we truely have no system.