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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:08:25 AM
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Psalms274
Posts: 1101
Joined: 8/13/2005
From: Georgia
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quote:
ORIGINAL: relady
quote:
He did not vote for it ... see previous post. Wrong Bill. The one that repealed Glass Steagall was S.900 and McCain voted FOR it.
The crisis occurred because BOTH this bill and the Glass Steagall passed. This bill would have served as a check while allowing the industry to grow with the passage of the Glass Steagall bill.
As to the bill you are referring to ... everyone save 9 Senate members voted for it, including McCain ... which means the majority of the Democrats along with the Republicans. And it would have been a good thing had they voted in a system to keep it in check.
< Message edited by Psalms274 -- 9/17/2008 11:15:35 AM >
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I pray that you, being rooted and established in love, may have power, together with all the saints, to grasp how wide and long and high and deep is the love of Christ.
< Linus w/ a friends baby!
http://piswa.blogspot.com/
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:14:39 AM
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relady
Posts: 1279
Joined: 4/11/2005
From: Greater St. Louis Metro
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quote:
As did everyone save 9 Senate members ... which means the majority of the Democrats along with the Republicans. No, it passed and the vote was strictly along party lines. I saw that same report of the vote and I don't know where it's coming from. The link below is to the Senate site for the vote on that particular bill. McCain voted FOR it. Senate Vote on S. 900
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:22:15 AM
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relady
Posts: 1279
Joined: 4/11/2005
From: Greater St. Louis Metro
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quote:
Your right ... I looked at the Senate conference report thinking it was the Senate Passage report.
I still stand by my (edited ) post. No problem. I disagree with you on your view of the banking industry, however. It is obvious they need to be regulated. Again. I just don't think McCain is the one to be allowed to fix what he helped break. Just my opinion, you are welcome to yours. 
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:41:17 AM
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inthysite
Posts: 770
Joined: 2/12/2008
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The current crisis on Wall Street is due to greed and corruption, it all started with the subprime housing garbage.
McCain saw this coming three years ago and authored a bill to prevent it. He specifically called out by name Freddie and Fannie, saying that their corrupt practices would eventually affect the people, taxes and the economy.
Guess who stopped his bill from passing? Why the Democrats of course.
_____________________________
Let the words of my mouth and the meditation of my heart
Be acceptable in Thy sight, O LORD, my rock and my Redeemer - Psalm 19:14
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:44:47 AM
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P31W
Posts: 2972
Joined: 6/13/2005
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quote:
McCain saw this coming three years ago and authored a bill to prevent it. He specifically called out by name Freddie and Fannie, saying that their corrupt practices would eventually affect the people, taxes and the economy.
This rings a bell for me. I am thinking homosexual democratic leader involved in this heavily. Some with a clear brain do I ring a bell for you?
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:45:25 AM
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csl7037
Posts: 1629
Joined: 3/24/2008
Status: online
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quote:
ORIGINAL: inthysite
The current crisis on Wall Street is due to greed and corruption, it all started with the subprime housing garbage.
McCain saw this coming three years ago and authored a bill to prevent it. He specifically called out by name Freddie and Fannie, saying that their corrupt practices would eventually affect the people, taxes and the economy.
Guess who stopped his bill from passing? Why the Democrats of course.
It didn't take a genius to see this coming. But it did take guts to stand up and say what nobody wanted to hear. Not sure he could do much more in the next four years as President than he was able to do to this point.
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:46:45 AM
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csl7037
Posts: 1629
Joined: 3/24/2008
Status: online
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quote:
ORIGINAL: P31W
This rings a bell for me. I am thinking homosexual democratic leader involved in this heavily. Some with a clear brain do I ring a bell for you?
This?
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RE: New Obama "Fundamentals" Ad - 9/17/2008 11:50:33 AM
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P31W
Posts: 2972
Joined: 6/13/2005
Status: offline
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Good ole Barney Frank! That's the nucklehead!
McCain stood up to these crooks in congress.
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RE: New Obama "Fundamentals" Ad - 9/17/2008 2:49:28 PM
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litfire2000
Posts: 182
Joined: 7/6/2008
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i would like to hear both candidates address a solution to the national debt...eventually, the piper will have to be paid
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Ps. 122:6 Pray for the peace of Jerusalem
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RE: New Obama "Fundamentals" Ad - 9/17/2008 3:22:59 PM
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adelphi_sky
Posts: 409
Joined: 10/11/2007
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quote:
ORIGINAL: Psalms274
quote:
Unemployment is at a five-year high, and the Wall Street lending industry is coming apart at the seams.
The government does not "create" jobs ... people who own businesses do. The President has very little to do with the unemployment numbers except for (through tax proposals) keeping the client favorable for business to insure they can keep their money and invest it into growing their business (and they can only do this by keeping the taxes these business pay at lower levels) ... which translates into hiring more workers ... = more jobs.
The lending industry is coming apart because of a law put into place during the Clinton administration that tore down some of the laws that separated banking from investments (which was put in place after the great depression in 1929 to prevent another crash).
Something that is hardly ever mentioned in terms of Wall Street ... we now have the first of the baby boomers entering into retirement ... which means they are pulling money out of their investments ( the stock market) to money markets and CDs ... which brings the stock prices down.
You're incorrect. The government DOES create jobs. Ever heard of Homeland Security? That's not a subsidiary of ADT or Brinks. Ever heard of infrastructure projects? Research grants? Tell that to the thousands who will have jobs from the GOVERNMENT'S Military Branch Relocation and Consolidation initiative that will bring thousands of JOBS to Maryland.
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RE: New Obama "Fundamentals" Ad - 9/17/2008 3:32:28 PM
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letusreason
Posts: 807
Joined: 8/30/2008
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quote:
ORIGINAL: adelphi_sky
quote:
ORIGINAL: Psalms274
quote:
Unemployment is at a five-year high, and the Wall Street lending industry is coming apart at the seams.
The government does not "create" jobs ... people who own businesses do. The President has very little to do with the unemployment numbers except for (through tax proposals) keeping the client favorable for business to insure they can keep their money and invest it into growing their business (and they can only do this by keeping the taxes these business pay at lower levels) ... which translates into hiring more workers ... = more jobs.
The lending industry is coming apart because of a law put into place during the Clinton administration that tore down some of the laws that separated banking from investments (which was put in place after the great depression in 1929 to prevent another crash).
Something that is hardly ever mentioned in terms of Wall Street ... we now have the first of the baby boomers entering into retirement ... which means they are pulling money out of their investments ( the stock market) to money markets and CDs ... which brings the stock prices down.
You're incorrect. The government DOES create jobs. Ever heard of Homeland Security? That's not a subsidiary of ADT or Brinks. Ever heard of infrastructure projects? Research grants? Tell that to the thousands who will have jobs from the GOVERNMENT'S Military Branch Relocation and Consolidation initiative that will bring thousands of JOBS to Maryland.
Are you referring to the myth of "Government Job Creation"?
"Despite the rhetoric of "government job creation," economic logic denies the possibility that jobs can, on net, be created by government. The economist's notion of "opportunity cost" is the key to understanding this phenomenon. "
"If the students and others involved in the debates take advantage of the exceptional opportunity thereby provided to learn some basic economic principles, they will discover that it is inherently impossible for government to create jobs; only economic growth in the private sector of the economy can create employment opportunities."
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RE: New Obama "Fundamentals" Ad - 9/17/2008 4:00:52 PM
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HighPlainsDrifter
Posts: 1292
Joined: 9/22/2005
From: The Great Sioux Empire
Status: offline
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quote:
In what universe? Unemployment is at a five-year high, and the Wall Street lending industry is coming apart at the seams.
Today's little discussed news included the fact that Obama has taken over a half million dollars from Freddie, Fannie and Lehman, plus employs two top advisors who were, until recently, executives at Lehman and Fannie Mae. What were they buying?
I'm sure the network news, as well as the New York Times, will be providing expose's on all this in the next couple of days, but won't hold my breath.
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Molon Labe
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RE: New Obama "Fundamentals" Ad - 9/17/2008 4:38:35 PM
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adelphi_sky
Posts: 409
Joined: 10/11/2007
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quote:
ORIGINAL: HighPlainsDrifter
quote:
In what universe? Unemployment is at a five-year high, and the Wall Street lending industry is coming apart at the seams.
Today's little discussed news included the fact that Obama has taken over a half million dollars from Freddie, Fannie and Lehman, plus employs two top advisors who were, until recently, executives at Lehman and Fannie Mae. What were they buying?
I'm sure the network news, as well as the New York Times, will be providing expose's on all this in the next couple of days, but won't hold my breath.
In essence, this is not news. All politicians receive money from these institutions. As a former Fannie Mae employee, there has always been a long time fight to keep government away from Freddie and Fannie because at the time, the two companies were a great help to the housing boom in the late 90s and early 00s. The democrat's thought was, if it's not broke, why fix it? Therefore, there have been a long string of democrats who have done the same thing. I wouldn't expect Obama to do any different since there was no urgency back then. I will say hat's off to McCain for realizing something was wrong before it went wrong. Obama and the democrats missed out on that one. But it doesn't make Obama any worse for accepting money from them. Republicans accepted money from failed companies. Dare I say Enron?
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RE: New Obama "Fundamentals" Ad - 9/17/2008 4:54:41 PM
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HighPlainsDrifter
Posts: 1292
Joined: 9/22/2005
From: The Great Sioux Empire
Status: offline
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quote:
In essence, this is not news.
Yeah, that'll be the line I'd expect from the MSM, NYT and WaPo as their combing thru Palin's old church's bulletins for the last 30 years. Nothing to see here, move along. Two executives ride a couple of HUGE companies into oblivion, while giving a half a million to a junior senator from a midwestern state in office a hundred and a half days, then pick up jobs with him as top economic advisors.
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Molon Labe
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RE: New Obama "Fundamentals" Ad - 9/17/2008 4:55:19 PM
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csl7037
Posts: 1629
Joined: 3/24/2008
Status: online
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quote:
ORIGINAL:
You're incorrect. The government DOES create jobs. Ever heard of Homeland Security? That's not a subsidiary of ADT or Brinks. Ever heard of infrastructure projects? Research grants? Tell that to the thousands who will have jobs from the GOVERNMENT'S Military Branch Relocation and Consolidation initiative that will bring thousands of JOBS to Maryland.
What good little Marxists we're becoming in America!
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RE: New Obama "Fundamentals" Ad - 9/17/2008 6:27:11 PM
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StephK
Posts: 2339
Joined: 4/11/2005
From: Southwest Louisiana
Status: offline
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quote:
ORIGINAL: adelphi_sky
In essence, this is not news. All politicians receive money from these institutions. As a former Fannie Mae employee, there has always been a long time fight to keep government away from Freddie and Fannie because at the time, the two companies were a great help to the housing boom in the late 90s and early 00s. The democrat's thought was, if it's not broke, why fix it? Therefore, there have been a long string of democrats who have done the same thing. I wouldn't expect Obama to do any different since there was no urgency back then. I will say hat's off to McCain for realizing something was wrong before it went wrong. Obama and the democrats missed out on that one. But it doesn't make Obama any worse for accepting money from them. Republicans accepted money from failed companies. Dare I say Enron?
People went to jail for the Enron mess. So are 0bama's advisors going to room with the Enron execs? 
Politics and the Fannie Mae Piggy Bank
Franklin Raines, Jamie Gorelick, and some very cooked books.
By Byron York
On May 23, 2006, as a jury in Houston deliberated the case against top Enron executives Kenneth Lay and Jeffrey Skilling, a little-known regulatory agency in Washington, the Office of Federal Housing Enterprise Oversight (OFHEO), released a study with the dryly bureaucratic title “Report of the Special Examination of Fannie Mae.” The document received far less attention than the news from Enron, but its conclusions were stunning. In meticulous detail, it outlined a culture of corruption at the Federal National Mortgage Association — better known as Fannie Mae — that rivals the most serious corporate scandals in recent years. In this case, however, the main players are Washington insiders — some of them prominent veterans of the Clinton administration — and the scandal’s effects could ripple through Congress for years.
Fannie Mae is the biggest single source of money for mortgages in the United States. From 1998 to 2004, the years covered by the OFHEO investigation, it was headed by former Clinton budget director Franklin Raines, whose top management team included former Clinton Justice Department official Jamie Gorelick, sometimes mentioned as a future attorney general in a Democratic administration. During that period, the report says, Raines and his team grossly overstated Fannie Mae’s earnings — to the tune of $10.6 billion — for the purpose of paying themselves big bonuses. “By deliberately and intentionally manipulating accounting to hit earnings targets,” the report says, “senior management maximized the bonuses and other executive compensation they received, at the expense of shareholders.”
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Stephanie
The heart of the wise inclines to the right but the heart of the fool to the left.
Even as he walks along the road, the fool lacks sense and shows everyone how stupid he is. ~ Ecc. 10:2-3
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RE: New Obama "Fundamentals" Ad - 9/17/2008 6:29:06 PM
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inthysite
Posts: 770
Joined: 2/12/2008
Status: offline
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quote:
ORIGINAL: HighPlainsDrifter
quote:
In essence, this is not news.
Yeah, that'll be the line I'd expect from the MSM, NYT and WaPo as their combing thru Palin's old church's bulletins for the last 30 years. Nothing to see here, move along. Two executives ride a couple of HUGE companies into oblivion, while giving a half a million to a junior senator from a midwestern state in office a hundred and a half days, then pick up jobs with him as top economic advisors.
Well according to CNN this is just what Obama wanted:
On Monday's "Anderson Cooper 360," after CNN senior political analyst David Gergen said "what happened over the weekend with the economy and the bottom falling out of the financial markets...is the opportunity for Obama to seize the momentum back on his side," Crowley actually said, "[J]ust as foreclosures were showing up on B-17, or in the real estate section, along comes this horrific headline out of Wall Street...I mean, this is what they wanted."
Amazing. CEO's are getting richer, taxpayers are getting poor, congress is violating the Constitution by buying out a private company, and all these guys think about is, "Hey this is great, now Obama has the advantage!"
CNN's Crowley: Obama Team Wanted 'Horrific' Wall Street Headlines
_____________________________
Let the words of my mouth and the meditation of my heart
Be acceptable in Thy sight, O LORD, my rock and my Redeemer - Psalm 19:14
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RE: New Obama "Fundamentals" Ad - 9/17/2008 7:17:52 PM
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todd_t
Posts: 1571
Joined: 6/21/2006
From: The North Woods
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quote:
Please define "verge of collapsing"?
How about some of America's largest lending and insurance institutions going into the tank, one right after the other?
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In Memoriam: 1st Sgt. Obediah Kolath, US Army, Died in Iraq War (1973-2005)
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RE: New Obama "Fundamentals" Ad - 9/18/2008 8:22:04 AM
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P31W
Posts: 2972
Joined: 6/13/2005
Status: offline
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quote:
All politicians receive money from these institutions.
This is false. I know many politicians who "refuse" to take money from institutions or people. They self fund their campaigns.
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RE: New Obama "Fundamentals" Ad - 9/18/2008 9:44:18 AM
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rhippie
Posts: 665
Joined: 4/13/2005
From: Rich The Hippie
Status: offline
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quote:
ORIGINAL: letusreason
Are you referring to the myth of "Government Job Creation"?
"Despite the rhetoric of "government job creation," economic logic denies the possibility that jobs can, on net, be created by government. The economist's notion of "opportunity cost" is the key to understanding this phenomenon. "
"If the students and others involved in the debates take advantage of the exceptional opportunity thereby provided to learn some basic economic principles, they will discover that it is inherently impossible for government to create jobs; only economic growth in the private sector of the economy can create employment opportunities."
Oh sure!!! Talk economics and most folks fall asleep (I know because I taught Macro/Micro Econ for 10 years) and even when presented with the truth they don't want to hear it because it conflicts with their own desire to paint the world they way they want it to be instead of the way it really is.
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Stand up for what's right....even if you're standing alone
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