Must see video! Pulls the curtain back to reveal roots of current economic crisis.

Discussion in 'New Orleans Saints Forum' started by Andouille, Sep 26, 2008.

  1. red55

    red55 curmudgeon Staff Member

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    Yeah, and I read the newspapers and books, too. OK, so what caused the credit crisis then?
     
  2. Andouille

    Andouille Guest

    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis


    • Socialist government policies that virtually mandated that unworthy citizens were given government backed loans that they never would have gotten on their own.
    • Greed on the part of investment banks that knew they were living on borrowed time with junk mortgages.
    • Greed on the part of citizens that have been living well beyond their means for years. I can't tell you how many times I've driven by by of those $300-500,000 with a 20-something couple working in the yard and wondered how they can afford it.
    [media]http://www.youtube.com/watch?v=hn5EP9StlVA[/media]
     
  3. red55

    red55 curmudgeon Staff Member

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    I'll buy #2 and #3. But your first point is absurd. What "socialist" government policies? Be specific.
     
  4. Andouille

    Andouille Guest

    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    You can't be serious.
     
  5. gumborue

    gumborue Throwin Ched

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    what evidence do you have that Raines is Obama's campaign advisor?

    http://voices.washingtonpost.com/fact-checker/2008/09/obamas_fannie_mae_connection.html

    "By Raines's own account, he took a couple of calls from someone on the Obama campaign, and they had some general discussions about economic issues. I have asked both Raines and the Obama people for more details on these calls and will let you know if I receive a reply."

    this is all it was. there aint no more. so i guess you could call raines Obama's campaign adviser, but then i'm CLM's great friend because he shook my hand once and smiled.

    meanwhile.....

    mccain's campaign MANAGER (irrefutable) was a lobbyist for Fannie/Freddie and his firm was still getting paid as of this summer (for doing nothing btw---pretty fishy) http://www.nytimes.com/2008/09/24/us/politics/w24davis.html?_r=1&hp=&pagewanted=print&oref=slogin
     
  6. gumborue

    gumborue Throwin Ched

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    SF, where's the "jealous" comment?
     
  7. red55

    red55 curmudgeon Staff Member

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    I didn't think you knew . . .
     
  8. Andouille

    Andouille Guest

    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    What do you think Fannie Mae and Freddie Mac are? Their debt is guaranteed by the US government.

    I'd love to take more time and point out all of the other socialist programs this country has gotten into since the depression but whats the point? You aren't interested in honest dialogue.
     
  9. red55

    red55 curmudgeon Staff Member

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    It isn't socialism.


    Fannie Mae and Freddie Mac are private companies with some government guarantees, just like your bank, they are not collectively owned. Neither the US government, nor its economy constitute socialism.

    Try me. Perhaps you just aren't interested in having your ideas challenged. I think your notion of socialism doesn't hold water.
     
  10. mctiger

    mctiger RIP, and thanks for the music Staff Member

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    Re: Must see video! Pulls the curtain back to reveal roots of current economic crisis

    And will all of that put together bring down the US economy the way the Fannie/Freddie scandal threatens to?

    I would argue that Clinton efforts to make it easier for people who couldn't afford to pay a mortgage be able to get a mortgage were equally to blame. Let's fast forward a little bit, because you're blaming the policies of the 80's. In this current decade, Democrats, led by Barney Frank, have shot down repeated attempts by Republicans to bring this whole thing under control before it got to where we are today. Watch the youtube link a few posts above to see and hear Barney deny that there was a problem.

    Would you prefer this label?

    communism
    –noun 1. a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.

    Democrats want to take billions of taxpayer dollars and use it to take control of programs that irresponsibly loaned money to people who can't pay it back. If you think "communism" is too harsh, let's just go with "nanny state." The continuing liberal campaign to make people think the government is there to take all responsibility for running our lives.
     

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