Is modern Capitalism on it's last legs?

[Mark]

And we all let it happen. None of us are blind

 

[Bob Fechter]

Al, I totally agree, the housing mess is responsable for most all current economic problems.

This was an area where previously, Govenment had strict control over the % of down payment and income needed to buy a home.

Govenment relaxed their control, as you like to say, let the free market run things.

Al how did that work for you?

The "free market" screwed the pooch!

We need now, as we needed then much tighter control over the markets!

Things worked just fine until they desided to let he "free market" run things!!!!!

Al, would you not agree that if Government had kept strict controll, our economy would be much, much better?

If we can define "modern capitalism" as government intervention in the market, such as buying auto makers and forcing banks to make loans to those who can't afford the payments, I hope the population will ignore the lies of the left and demand this form of capitalism be thrown in the ash heap of history along with its perpetrators, especially Barney Frank.


"Rep. Barney Frank (D-Mass.), the ranking Democrat on the House Financial Services Committee, said the administration's position is driven by concerns about the financial safety and soundness of the companies "to the exclusion of concern about housing."

Discussion | Interactive Investor

 

[Mark]

Bob, Bob Bob bob Bob, the definitive proof that brain-washing truly does work.

Find us another quote Bob.

What do you call a man with no arms and no legs in a swimming pool.................................


When I sell this business and start another, it's going to be a Library of bullshit second-hand ideas and my cheif Librairian will be..............................................Answers on a postcard please.........................................................................

Here's a picture of Bob in is Chief Librarian's Brainwashing Helmet. Tooled up in this puppy he knows absolutely every piece of bullshit ever stated by every fucking idiot on the planet.

 

[Al Wohlstrom]

Forget that this is fox news, these are direct quotes from government people involved. No ventriloquist.

Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown - YouTube

Barney Frank & Chris Dodd Complicit With Failure Of Fanni Mae & Freddy Mac - YouTube

 

[Mark]

What bloody fool ever thought that borrowing money from someone called Fanny Mae and freddy Mac was a good idea??? Surely that was an 'in' joke all along wasn't it?

Someones having a good ole knee trembler at our expense and his name is ....................................................

 

[Bob Fechter]

"Rep. Barney Frank (D-Mass.), the ranking Democrat on the House Financial Services Committee, said the (Bush) administration's position is driven by concerns about the financial safety and soundness of the companies "to the exclusion of concern about housing."

If you don't understand what Rep. Frank said above, the onus of a delusional brainwashing is yours. As the ranking Dem. on the House Financial Services, he is the one who implemented the above sentiments which brought down the economy.

Clearly your best argument is silly name calling.

 

[Al Wohlstrom]

What bloody fool ever thought that borrowing money from someone called Fanny Mae and freddy Mac was a good idea??? Surely that was an 'in' joke all along wasn't it?

Someones having a good ole knee trembler at our expense and his name is ....................................................

They are government controlled agencies that decided the guidelines for housing loans to severely under qualified people. The names are goverment humor I guess.

 

[Bob Fechter]

What bloody fool ever thought that borrowing money from someone called Fanny Mae and freddy Mac was a good idea??? Surely that was an 'in' joke all along wasn't it?

Someones having a good ole knee trembler at our expense and his name is ....................................................

Boy, you're a lot smarter than I thought you were.

 

[Bob Fechter]

Fannie Mae = Federal National Mortgage Association.

Freddie Mac = Federal Home Loan Mortgage Corporation.

Have another bottle of cheap wine, Mark!

 

[domtoni]

And Bush, in an effort to keep the flack down after 2007, kept a low profile.

 

[Jeff Young]

and yet, they (and the Clinton administration) still failed regulate these derivatives as securities.

Did Freddie and Fannie's guaranteeing of loans add to the fire yep?

Were they, or any government backed lending practices the root cause of all this? Nope, that's just FauxNews brainwashing.

No one "forced" banks to make these loans. They were making a ton of money off of them at the time AND they had government guarantees.

That said, take a look at the hard statistics. Fannie and Freddie actually backed a smaller percentage of "bad loans" than the big banks took on.

Greed, and an unregulated new product caused this. Don't believe the hype on this being Freddie, Fannie and a gay guy from Massachusett's fault. Contribute? yes. Cause? Nope.

Forget that this is fox news, these are direct quotes from government people involved. No ventriloquist.

Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown - YouTube

Barney Frank & Chris Dodd Complicit With Failure Of Fanni Mae & Freddy Mac - YouTube

 

[Nick]

Then I decided to agree that a even those who work hard and educate themselves are not guaranteed a good wage. Bollocks. It's out there people, go and fucking find it and stop whining!

Mark,

Valid argument but if so then the same argument could be levelled at those whining about working there ass off, to pay high taxes.

I am sure there are plenty of rich people who pay high taxes and are still rich afterwards because they don't sit around whining and counting their money, they go out and find it.

 

[Mark]

Fannie Mae = Federal National Mortgage Association.

Freddie Mac = Federal Home Loan Mortgage Corporation.

Have another bottle of cheap wine, Mark!

So it is officially true Bob. You don't get Irony over there do you???!!!

My post was a slight against any f**cking idiot that could name any institution like that in that sector. It's Banking FFS not a fucking fast food chain that needs a catchy name and an advertizing slogan! Everything does not have to be bloody razzamatazz. Sheesh, I give up Bob.

Not everything written is literal. Use your own grey matter for once and maybe you will eventually develope a modicum of understanding, beyond that which has been preached to you.

 

[Mark]

To be clear, without editing the above, are you actually suggesting that I thought they were real people?? Un-f88cking believable mate.

 

[Al Wohlstrom]

and yet, they (and the Clinton administration) still failed regulate these derivatives as securities.

Did Freddie and Fannie's guaranteeing of loans add to the fire yep?

Were they, or any government backed lending practices the root cause of all this? Nope, that's just FauxNews brainwashing.

No one "forced" banks to make these loans. They were making a ton of money off of them at the time AND they had government guarantees.

That said, take a look at the hard statistics. Fannie and Freddie actually backed a smaller percentage of "bad loans" than the big banks took on.

Greed, and an unregulated new product caused this. Don't believe the hype on this being Freddie, Fannie and a gay guy from Massachusett's fault. Contribute? yes. Cause? Nope.

They were warned in 2002, Frank said nothing was wrong, he continued to push for subprime loans. Bad loans piled up and were sold. The economy started it's slide. What does his sexual leaning have to do with it? A bit homophobic Jeff! But his partner was an executive at Fannie Mae, now that you mention it. Can you say "conflict of interest"? Brainwashing? Those were directly from the horses mouth!