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Thread: Occupy Wall Street

  1. #61
    Dr Tweak mnosteele52's Avatar
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    The President and Congress are at fault for the economic meltdown (I am referring to Clinton, Bush and Obama) they are the ones who started the whole meltdown, they were the enablers that allowed the banks to do what they did. They were all in this together, that is why Cain is different, he has had nothing to do with this and would not support it if he was in office.

    He's also 100% right about don't blame Wall Street, 99% of these protesters are your modern day hippies. They have this sense of entitlement and act as if everything is owed to them for doing nothing in return, a bunch or morons. They don't understand what hard work and sacrifice is, they expect everything right now and for free. I see this ALL the time with the younger generation, people in their 20's. Not all 20 something year olds are like this, but the VAST majority are. For example, in the Fire Dept, they are a bunch of sissies who want to sit around and play video games all day instead of actually working, as we say.... the "New Breed".

  2. #62
    Maneater JawZ's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    The President and Congress are at fault for the economic meltdown (I am referring to Clinton, Bush and Obama) they are the ones who started the whole meltdown, they were the enablers that allowed the banks to do what they did. They were all in this together, that is why Cain is different, he has had nothing to do with this and would not support it if he was in office.

    He's also 100% right about don't blame Wall Street, 99% of these protesters are your modern day hippies. They have this sense of entitlement and act as if everything is owed to them for doing nothing in return, a bunch or morons. They don't understand what hard work and sacrifice is, they expect everything right now and for free. I see this ALL the time with the younger generation, people in their 20's. Not all 20 something year olds are like this, but the VAST majority are. For example, in the Fire Dept, they are a bunch of sissies who want to sit around and play video games all day instead of actually working, as we say.... the "New Breed".

    The government had ZERO to do with creating the derivatives market. It's a wholly unregulated beast because the trades occur between banks. there was never any transparency. Even the regulators at the FTC had no idea of the size and scope of the problem. So Clinton, nor Bush, nor Obama created this mess. I can say that both Bush and Obama didn't make the right decisions as to how to rectify the problem once it reared it's ugly head. Why should the taxpayers FIX BAD BUSINESS DECISIONS????????

    IMO, we're still trying to politicize an institutional meltdown. What purpose does that serve? I already have the answer, it's self serving. Why in the hell would any politician burn the coffers that line their campaign war chests? This is why we desperately need DRACONIAN campaign finance reform so that our representatives are free to do the right thing. As it stands now, if you do the morally and ethically right thing, you don't get re-elected. That's fine by me because we have tons of people to put into office.

    ...formerly the omnipotent UOD

  3. #63
    Dr Tweak mnosteele52's Avatar
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    My point is the government bailed them out, should have never been an option, let them fail.... which they wouldn't have.

    "In 1992, President George H.W. Bush signed the Housing and Community Development Act of 1992. The Act amended the charter of Fannie Mae and Freddie Mac to reflect Congress' view that the GSEs "have an affirmative obligation to facilitate the financing of affordable housing for low-income and moderate-income families."For the first time, the GSEs were required to meet "affordable housing goals" set annually by the Department of Housing and Urban Development (HUD) and approved by Congress. The initial annual goal for low-income and moderate-income mortgage purchases for each GSE was 30% of the total number of dwelling units financed by mortgage purchases and increased to 55% by 2007.
    In 1999, Fannie Mae came under pressure from the Clinton administration to expand mortgage loans to low and moderate income borrowers by increasing the ratios of their loan portfolios in distressed inner city areas designated in the CRA of 1977. Because of the increased ratio requirements, institutions in the primary mortgage market pressed Fannie Mae to ease credit requirements on the mortgages it was willing to purchase, enabling them to make loans to subprime borrowers at interest rates higher than conventional loans. Shareholders also pressured Fannie Mae to maintain its record profits."

    As you know they basically gave loans to people who could not afford the loans knowing this all along they did it anyways. The President and Congress were totally involved in this by passing these Acts which in return enabled Fannie Mae to actually loan the money, then when it all failed and the bubble burst they bailed them out.... total BS. Created by politicians and bankers and funded by politicians with our tax money.

  4. #64
    Dr Tweak mnosteele52's Avatar
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    Quote Originally Posted by JawZ View Post
    Ummm, NOT responsible??? WTF???? LEt me ask you this, can you name or cite on one hand, 5 people who were prosecuted for the financial crisis? The derivatives market is wholly responsible for this mess and AFAIK, only 1 person has been prosecuted all the while another bubble is being created because NOTHING has been done to reign this even though Dodd-Frank was passed a year ago!!!!


    But I'll be damned, the average Joe's who got defrauded are sure as hell still responsible for their debt lol!

    At this time we are doomed to repeat the past.
    Don't misquote Cain, he said they are no longer responsible. What I get out of that is politicians are now responsible because the mess was started and they bailed them out, but that started on 2008 and is in the past and you can't change it, it's now 2011 so let's fix it. And about prosecuted.... what they did wasn't illegal it was corrupt and unethical, once again the laws with the loopholes in place protected them.... laws that who put into place..... politicians.

  5. #65
    R.I.P. Nov 2015 RaisinCain's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Don't misquote Cain, he said they are no longer responsible. What I get out of that is politicians are now responsible because the mess was started and they bailed them out, but that started on 2008 and is in the past and you can't change it, it's now 2011 so let's fix it. And about prosecuted.... what they did wasn't illegal it was corrupt and unethical, once again the laws with the loopholes in place protected them.... laws that who put into place..... politicians.
    Clue has not been gotten. That is all. LoL

  6. #66
    TypicalWhitePerson JC's Avatar
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    Quote Originally Posted by JawZ View Post
    I'll stop right there. The US was established as a democracy.
    Really? I thought we were a republic. I don't believe the word "democracy" is found in any of our founding documents.
    Speedguide.... If you don't love Obama you won't like it here.
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  7. #67
    R.I.P. 2013-11-22 blebs's Avatar
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    I haven't even read through this entire thread, but I can tell you this, those that are the drivers are the ones that are going to kill all of us whether you like it or not. It's a planned, well thought out plan, to destroy the World economy as we know it. It's not just ours, it's everyone's.
    Success is a lousy teacher. It seduces people into thinking they can't lose. -Bill Gates

  8. #68
    R.I.P. 2013-11-22 blebs's Avatar
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    Quote Originally Posted by Roody View Post
    Don't forget Obama wasn't even in office when this process started. President Bush was the one who got the ball rolling and did most of it. It's actually a subject he discusses in his memoir.
    Perhaps, but show me one damn thing Obama has done to change any of it, besides throw 420 some more governerment regulations and committees.

    Want to know, look up Bilderburg.
    Success is a lousy teacher. It seduces people into thinking they can't lose. -Bill Gates

  9. #69
    Dr Tweak mnosteele52's Avatar
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    RaisinCain, since it's very obvious you are a staunch Democrat and strong Obama supporter, name anything he has done since he has been in office that has benefited this country and the people in it?

    I'm not so anti Democrat, Clinton wasn't a bad President, I'm just VERY anti Obama, he has run this country into the ground and done his best to push his socialistic policies on us.

  10. #70
    Moderator Roody's Avatar
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    Quote Originally Posted by blebs View Post
    Perhaps, but show me one damn thing Obama has done to change any of it, besides throw 420 some more governerment regulations and committees.

    Want to know, look up Bilderburg.
    No perhaps about it. It did in fact start with Bush. That said Obama has done nothing to change it. He's been a big part of the problem himself.

  11. #71
    Moderator Roody's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    RaisinCain, since it's very obvious you are a staunch Democrat and strong Obama supporter, name anything he has done since he has been in office that has benefited this country and the people in it?

    I'm not so anti Democrat, Clinton wasn't a bad President, I'm just VERY anti Obama, he has run this country into the ground and done his best to push his socialistic policies on us.
    I can answer that question. He has increased drone presence in Afghanistan and had the balls to give the order to take out Osama. That said by and large he hasn't done much to make me feel good about voting for him in 2008 and I'm not sure I will next year.

  12. #72
    Dr Tweak mnosteele52's Avatar
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    Sorry Roody, didn't ask you, I really want a legit answer from RaisinCain.

    I'm glad he did accomplish that on his watch, but that really isn't much. That's more timing that they had good intel to know where Osama was while he was in office, I think any President would have made that call.

  13. #73
    Dr Tweak mnosteele52's Avatar
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    Quote Originally Posted by Roody View Post
    No perhaps about it. It did in fact start with Bush. That said Obama has done nothing to change it. He's been a big part of the problem himself.
    Obama added more to the national debt in his first 18 months in office than all Presidents combined in the history of the United States, he isn't a big part of the problem, he IS the problem.

  14. #74
    Moderator Roody's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Sorry Roody, didn't ask you, I really want a legit answer from RaisinCain.

    I'm glad he did accomplish that on his watch, but that really isn't much. That's more timing that they had good intel to know where Osama was while he was in office, I think any President would have made that call.
    Yes, probably so with Osama, but the drone thing is huge and that was Obama's call and he deserves credit for it.

  15. #75
    Moderator Roody's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Obama added more to the national debt in his first 18 months in office than all Presidents combined in the history of the United States, he isn't a big part of the problem, he IS the problem.
    He's part of the problem. Congress is another part of the problem. It used to be people disliked every congressman except their own. Now people even think their own congressman sucks. Of course, we are a part of the problem also. We keep voting these clowns back in office.

  16. #76
    Maneater JawZ's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Don't misquote Cain, he said they are no longer responsible. What I get out of that is politicians are now responsible because the mess was started and they bailed them out, but that started on 2008 and is in the past and you can't change it, it's now 2011 so let's fix it. And about prosecuted.... what they did wasn't illegal it was corrupt and unethical, once again the laws with the loopholes in place protected them.... laws that who put into place..... politicians.

    Laws that corporate lawyers found loopholes in. Corporations have entire armies of lawyers looking to exploit the law. IS this a fault of the lawmakers?

    ...formerly the omnipotent UOD

  17. #77
    Maneater JawZ's Avatar
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    Quote Originally Posted by JC View Post
    Really? I thought we were a republic. I don't believe the word "democracy" is found in any of our founding documents.

    Are we or are we not a representative democracy? And btw, a republic is where the supreme control of the government lies with the people!!! Please don't throw the word republic around because there are many republics where this is not true...like the Islamic Republic of Iran. Our republic in the US is specifically rooted in democracy.

    However if you look at how our government functions currently, it is not a republic. It's a Corporatocracy. Corporatocracy, in social theories that focus on conflicts and opposing interests within society, denotes a system of government that serves the interest of, and may be run by, corporations and involves ties between government and business. Where corporations, conglomerates, and/or government entities with private components, control the direction and governance of a country, including carrying out economic planning (notwithstanding the "free market" label).[1]

    Did the founding fathers mention anything about a Corporatocracy?

    ...formerly the omnipotent UOD

  18. #78
    Maneater JawZ's Avatar
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    Quote Originally Posted by JawZ View Post
    Laws that corporate lawyers found loopholes in. Corporations have entire armies of lawyers looking to exploit the law. IS this a fault of the lawmakers?
    Also, I didn't misquote Cain. No longer responsible? Why? Just because it's been 3 years? So why is responsibility being absolved?

    ...formerly the omnipotent UOD

  19. #79
    Maneater JawZ's Avatar
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    Quote Originally Posted by mnosteele52 View Post
    Obama added more to the national debt in his first 18 months in office than all Presidents combined in the history of the United States, he isn't a big part of the problem, he IS the problem.

    I don't believe this but even if it's true, I disagree because imo, it's our own apathy that allows it to happen. when someone says that any President did such and such "X" thing...well...let's be honest...we are giving up our supreme control. It's like we've been programmed over time to relinquish control to the top vote getter when the bottom line is this...they are nothing more than servants of the people. They are representatives, NOT kings.

    ...formerly the omnipotent UOD

  20. #80
    Dr Tweak mnosteele52's Avatar
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    You know Jawz, you should be a politician, because you know everything and are never wrong...... at least you never admit when your wrong.

    In your own words "'ll stop right there. The US was established as a democracy." WRONG, We were established as a Republic, then you change tactics "Are we or are we not a representative democracy?", the question was not what we currently are, it was what we were established as and you were simply wrong.

    You always put words in people mouths, misquote them, change your story to fit your needs and NEVER admit fault..... your a politician.

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