**beep** You’re fired
**beep**
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Ouchies.
Congrats on your first, brewski!
I lol’d. This one is funnier than mine.
Have you all noticed how generally absent the right wingers are from these economy lol discussions? “Economy? What economy? Have we mentioned that McCain is a war hero? Here, look at these boobies!”
deep down inside they know they can’t spin it to make it look like the dem’s fault.
Okay. Here you go:
The democratic party started calling for a regulation of the housing market a few years back so everyone could have their own house (“Vote for me! I’ll get you a house!”), and as a result got involved with the economy and made mortgage companies make ninja loans to people who very likely wouldn’t be able to pay those loans off. As a result, those companies lost money with every loan they made, and you see scenes such as the above happening.
To put it simple, the government started meddling with the economy and SCREWED EVERYTHING UP.
Capitalism works. You may be a saint, you may be a crook, but as the owner of a big company you aren’t going to intentionally make bad choices that make you lose money, and you’re likely not to make big mistakes ether, seeing as how you only got as far as you did as a business person by making the RIGHT (not a pun, just emphasis) choices.
However, I don’t feel that the economy is going to get out of the hole it’s in very gracefully unless the government helps. Besides, if the government didn’t help it would be comparable to accidentally tripping someone in an attempt to help them and making them fall down the side of a mountain, and then deciding not to help them because they can get out of that predicament on their own and you’ll just make things worse.
Actually, the people that sign these mortgage up had made their commissions and been long gone since. It’s whichever corporation they “sold” these mortgage to that get burned.
The companies (Fannie Mae and Freddie Mac) that buy the mortgages wouldn’t buy if they didn’t get bundled together and there weren’t rules requireing that they accept certain purchases. If the people who wrote the bad mortgages didn’t have a company required to let them offload the risk, the original writers would have been more careful in their buisness dealings because it would have been them that got bit instead of the other guy (Fannie Mae/Freddie Mac).
You say “Capitalism works”, then I ask the question “It works for who and for what?” and you could expand that question even more.
Nobody MADE mortgage companies do anything, you tool. Stop parroting back right wing lies and read the damn text of the law. Clinton did some minor deregulation, then Bush came in and went hog wild deregulating everything. The free market, which according to YOUR theory works best without regulation, took that lack of regulation as permission to screw the country.
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When Clinton made his minor deregulations to encourage home ownership, the financial goons on Wall Street hadn’t even invented the kind of trading of imaginary ‘derivatives’ they have now. He had no idea that they could be that irresponsible. By the time Bush came around, they had invented what is essentially financial gambling called derivatives, and Bush or his handlers knew full well what they were doing, and for whom they were doing it.
Uh, my husband works for this company, and Lehman Holdings has nothing to do with the area he works for or in. He does work in the mortgage dept, this does NOT apply to all of the Lehman Companies. Gosh, people…
Cheney: Boobies? … BANG!
Never, EVER put the words “Cheney” “Boobies” and “Bang” together in the same sentence again. Just don’t, please?
I require therapy now.
Again ?
Megaboobies!
MegaBobbitt
I was gonna say the boobies thing was misplaced because the first thing that pops into my head when you say you’re using boobies to distract someone is Obama Girl. Then I realised you were objectifying and degrading Palin again. Sigh.
I almost got in trouble. This is funny!
Check the calendar; it was probably a Monday when that happened….. =}
Yup, old Andrew Cuoma, aka “in the hip pocket of Fannie Mae” was the secretary of housing under GW … whoops make that WJ Clinton.
Loss to society ……nil.
Wrong, and you disprove your own point by refusing to take responsibility. Clinton’s changes to the law were minor. No one forced these companies to do anything. Bush’s changes to the law were huge deregulations, and let the companies get away with murder. Your logic is sadly flawed. If deregulation is all that was done, how can there be over regulation?
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Deregulation is bad, and you all are so brain dead that you continue to praise it, even as it is eating your lunch. Do you know what the Republicans just offered up as a ‘plan?’ Do away with the capital gains tax. Never mind the fact that LOSSES do not incur capital GAINS taxes, and thus capital gains tax cuts have nothing to offer the current crisis. Nope, it is pure pandering to the wealthy, as always.
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With your sad excuse for taking responsibility (really just a way to say, nyah nyah, we’re responsible, you’re not), your childish insults, and your complete lack of logical thought, You are not a ‘big boy,’ you are an infant.
Not just sadly flawed. Pathetically flawed.
And amazingly flawed. And hypocritical to boot. Another spectacular Seth fail. GG nub.
Since the Libs are having such a wonderful Hatefest, I’d hate to spoil it for you !