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. 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 (forgive me quoting myself; wanted to drive home the point) many of these people getting these irresponsible loans are used to the government (read: Democrats) taking care of them to begin with. Repeat: "nanny state'"
     
  2. saltyone

    saltyone So Mote It Be

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

    Wow...original video is no longer available.

    Here you go...

    [MEDIA]http://www.youtube.com/watch?v=1RZVw3no2A4[/MEDIA]
     
  3. gumborue

    gumborue Throwin Ched

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

    how many is "many"? 3? 300,000? have anything to base this on?

    what is "taking care of them"? i had college loans, does that count? ive also had federal scholarships and federal grants. do they count? if i worked for the post office or the marines does that count?

    my parents are on medicaid, does that count?

    im sure many TF posters got fema checks, does that count?

    ive got a multimillionaire relative that made the lions share through federal contracts, does that count?
     
  4. red55

    red55 curmudgeon Staff Member

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

    That's the same definition. It does not change the fact that Fannie/Freddie are NOT publicly or collective owned. They are private companies with a government charter.

    You know good and well that this is not a communist political or economic system. It's just a Limbaugh scare word that doesn't work any more. Fear of "more of the same" Republican government is what is working.

    Nonsense. The Bush administration proposing this is Republican. Treasury Secretary Paulsen and Fed Chairman Bernanke pushing this are Republicans. John McCain endorsing this is a Republican. Get the facts right. It's not democrats doing this it is ALL the politicians.
     
  5. houtiger

    houtiger Founding Member

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

    Pure election time propaganda, in the Goebels/Hitler category. They don't give you time to read anything, just state their opinion and move on. I went and read the entire article at Wikipedia, and its pretty good.

    http://en.wikipedia.org/wiki/Community_Reinvestment_Act

    This would put most of the blame on the independent mortgage companies like Countrywide and New Century Financial making predatory subprime loans, that had nothing to do with the CRA.

    Appears to me most of the problem came from private industry, greed and predatory practices. Nobody would have made those loans if they had to hold the paper and collect the monthly notes. This could not have occurred without the ability to "securitize" the loans, i.e. sell them to Wall St. (Merrill Lynch, etc.), who would bundle them into CMO and CDO and pay Moody's to put a AAA rating on their junk bond, then sell them to Main St (I have some in my IRA), and internationally (look at the writedowns at UBS, Fortis, etc.).
     
  6. PURPLE TIGER

    PURPLE TIGER HOPE is not a strategy!

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


    This list is quite short compared to the number of Democrats involved in scandals just in the state of Louisiana. You know the party that has almost entirely run this state into the ground for longer than any of us has been alive.
     
  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

    Sorry, I didn't see your list. Is it an imaginary list?
     
  8. PURPLE TIGER

    PURPLE TIGER HOPE is not a strategy!

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


    Why yes...it is.

    I woke up this morning and imagined that Edwin Edwards was in prison. I also imagined that William Jefferson had $$$ in his refrigerator. I also imagined that Jim Brown, Oliver Thomas, and Cleo Fields were involved in scandals. I even imagined that the feds were investigating Marc Morial.

    What's really strange is I imagined that many family, friends, and associates of Louisiana Democrats were either in prison or under indictment for various charges.

    I guess we can blame Vitter, Livingston, Treen, Foster, and Jindal for all of Louisiana's problems.

    God knows people like Edith Bunker Blanco and Mary Landrieu have just done a wonderful job. :hihi:
     
  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

    No, it goes . . . "and got my self a gun."
     
  10. LSUsupaFan

    LSUsupaFan Founding Member

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

    If you are trying to argue that Republicans are less corrupt than Democrats then that is silly. Both parties are filled with corrupt self servers. Both parties are led by folks who look out for number 1, cut corners, lie, take bribes, and make policies that hurt you and I and benefit them.

    The parties are equally lax on ethics and morals and the only people who can't see that are partisans.
     

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