How does it feel America?

[rationalist]

Oh I see, it was Carter in the 1970s forcing the banks to make bad loans.

How come it took 30 odd years to take effect?

 

[Pandora]

Bush allowed the banks to throw all your money down the toilet.

That was the spending that necessitated the borrowing much of which was required just to meet the banks' obligations and save them and the banking sector from collapsing let alone spend to stimulate the economy.

And if he followed your suggestion the USA would be in a depression.

And the people who that hurts the most are the poor. The ones who did not make this happen.

I disagree that we would fall into any worse of a depression. It would be like going back to the 50s or before when the government had very few employees and business ran things. People worked for companies not government. We actually made things, all we make now is paperwork and red tape. Americans for the most part are more competent than you or the government give them credit.

 

[Pandora]

Oh I see, it was Carter in the 1970s forcing the banks to make bad loans.

How come it took 30 odd years to take effect?

No, he is just the one who started it. It grew over the years and got worse.

The biggest problem was congress Barney Frank and Chris Dodd whose job it was to oversee things. They did a terrible job.

I will go back and try to find an older thread that is actually very good. A lot of time was put into it by various members. There are a ton of links to letters written by McCain warning about it and President Bush and lots of videos of Barney Frank and Chris Dodd and the gang saying Fanny and Freddie were sound. Exc..

 

[rationalist]

So, what you are saying is, the government should stop spending and then there would be a surge in investment in manufacturing and this would get the US out of trouble??

Do you mean like manufacturing cars?

 

[dogtowner]

No, he is just the one who started it. It grew over the years and got worse.

The biggest problem was congress Barney Frank and Chris Dodd whose job it was to oversee things. They did a terrible job.

I will go back and try to find an older thread that is actually very good. A lot of time was put into it by various members. There are a ton of links to letters written by McCain warning about it and President Bush and lots of videos of Barney Frank and Chris Dodd and the gang saying Fanny and Freddie were sound. Exc..

Frank Raines was the epicenter of the MBS problem (Mortgage Backed Securities). NO regulation caused these to become legal, Raines legitimized the bad loans that he was demanding of lenders by pretending that they were what they were not once wrapped in these derivitives. He wanted bad paper, he got it and Frank and Dodd were willing abettors.

 

[Pandora]

So, what you are saying is, the government should stop spending and then there would be a surge in investment in manufacturing and this would get the US out of trouble??

Do you mean like manufacturing cars?

I will answer the question after you answer mine.

I keep asking the same question and you keep moving the bar asking a new question


How can you spend your way out of debt? How can obama spending more money in a year than President Bush did in 8 years be a good thing if President Bush's spending was the problem?

 

[Gipper]

Frank Raines was the epicenter of the MBS problem (Mortgage Backed Securities). NO regulation caused these to become legal, Raines legitimized the bad loans that he was demanding of lenders by pretending that they were what they were not once wrapped in these derivitives. He wanted bad paper, he got it and Frank and Dodd were willing abettors.

Yes and all the parties at the top made millions, yet no one has been held accountable. But, that dirty Madoff is in jail for 150 years.

Its those evil corporations you know.

The robber barons of old are pikers compared to the new robber barons who run our government.

But the g-school text books will only write about Madoff, bankers, and evil capitalists while ignoring the 800 pound gorilla (aka government).

 

[Pandora]

Frank Raines was the epicenter of the MBS problem (Mortgage Backed Securities). NO regulation caused these to become legal, Raines legitimized the bad loans that he was demanding of lenders by pretending that they were what they were not once wrapped in these derivitives. He wanted bad paper, he got it and Frank and Dodd were willing abettors.

Dodd was paid off with sweetheart loans and Barney Frank was the sweetheart to who he was over seeing Fannie Mae Executive Frank Raines. that alone should have landed the jerk in jail.

 

[rationalist]

Pandora, a passing acqaintence with economics tells you of the multiplier effect.

If you spend a $ someone recieves it and they spend it etc. This is how spending stimulates the economy. It creates jobs which create wealth.

Your approach of stopping spending and hoping for a miracle in terms of an upsurge in manufacturing is just bizarre. What would actually happen is that more manufacturers would go bust.

 

[bododie]

Bush and his conservative banker crooks wrecked the US economy necessitating massive bail outs and borrowing.

Can you tell us in your infinite wisdom what party controlled Congress for most of Bush's term, and who was in charge of the committee that controlled banking regulations? You should do some homework instead of pulling stuff out of your body that belongs in a septic tank.

I suggest Obama admit that he's incapable of making the world take him seriously.
I agree, Bush was among the worst. He's going to be beaten by Obama.

 

[Pandora]

Pandora, a passing acqaintence with economics tells you of the multiplier effect.

If you spend a $ someone recieves it and they spend it etc. This is how spending stimulates the economy. It creates jobs which create wealth.

Your approach of stopping spending and hoping for a miracle in terms of an upsurge in manufacturing is just bizarre. What would actually happen is that more manufacturers would go bust.

If spending a $ stimulates the economy then why do you blame President Bush for a bad economy for spending too much $?

 

[Gipper]

If spending a $ stimulates the economy then why do you blame President Bush for a bad economy for spending too much $?

Good one!!!

 

[rationalist]

Now we've been through this haven't we?

 

[Pandora]

Now we've been through this haven't we?

No

I have asked the question a few times in a few different ways but you have yet to explain. Last time you said something about Bush and his buddy bankers (who were all managed and controlled by democrats)

But you never did explain how Bush's spending put us in this mess and obamas spending far more is going to get us out.

 

[dogtowner]

Pandora, a passing acqaintence with economics tells you of the multiplier effect.

If you spend a $ someone recieves it and they spend it etc. This is how spending stimulates the economy. It creates jobs which create wealth.

Your approach of stopping spending and hoping for a miracle in terms of an upsurge in manufacturing is just bizarre. What would actually happen is that more manufacturers would go bust.

If government stops borrowing money then the capital supply will be eased. That helps everyone.

But if you insist on spending money, give it back to the people to spend as they see fit as opposed to the very narrow list the goernment picks.