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In reply to the discussion: Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown [View all]freshwest
(53,661 posts)22. Not at all, if you know how to play the game and insured yourself against the loss:
You call them stupid? They're not even naive:
http://www.mcclatchydc.com/2009/11/01/77791/how-goldman-secretly-bet-on-the.html
http://www.andyross.net/goldman_sachs.htm
http://www.dailyfinance.com/2011/01/20/whos-to-blame-for-the-mortgage-mess-banks-not-homeowners/
http://www.zerohedge.com/article/why-did-banks-give-home-loans-people-who-they-knew-couldnt-pay
http://answers.yahoo.com/question/index?qid=20100624124822AAQJLP2
Not everyone thinks the banks were stupid and getting rid of Glass Stegall was unimportant:
http://billmoyers.com/content/glass-steagall-dodd-frank-and-the-volcker-rule-a-primer-and-resources/
Google the Neil Bush, Keating Five and the Savings and Loan Crisis. First among those hits:
http://en.wikipedia.org/wiki/Keating_Five
This was just the replay. Then it was FDIC took the hit, then comes TARP. Same game, screwing the taxpayers by extorting the government into keeping the financial system solvent, because they know they government can't let them go down, all those pensions, all those businesses, even the MIC.
A nasty, brutal game has been played on all of us more than one time. The technique was a little bit different and they snuck through the cracks, but it's the same manufactured crisis. They knew how much was at stake and who would be stuck with the bill. Stupid? n/t
http://www.mcclatchydc.com/2009/11/01/77791/how-goldman-secretly-bet-on-the.html
http://www.andyross.net/goldman_sachs.htm
http://www.dailyfinance.com/2011/01/20/whos-to-blame-for-the-mortgage-mess-banks-not-homeowners/
http://www.zerohedge.com/article/why-did-banks-give-home-loans-people-who-they-knew-couldnt-pay
http://answers.yahoo.com/question/index?qid=20100624124822AAQJLP2
Not everyone thinks the banks were stupid and getting rid of Glass Stegall was unimportant:
http://billmoyers.com/content/glass-steagall-dodd-frank-and-the-volcker-rule-a-primer-and-resources/
Google the Neil Bush, Keating Five and the Savings and Loan Crisis. First among those hits:
http://en.wikipedia.org/wiki/Keating_Five
This was just the replay. Then it was FDIC took the hit, then comes TARP. Same game, screwing the taxpayers by extorting the government into keeping the financial system solvent, because they know they government can't let them go down, all those pensions, all those businesses, even the MIC.
A nasty, brutal game has been played on all of us more than one time. The technique was a little bit different and they snuck through the cracks, but it's the same manufactured crisis. They knew how much was at stake and who would be stuck with the bill. Stupid? n/t
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Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown [View all]
banned from Kos
Apr 2012
OP
Sabrina...don't fall for this...we just lost a poster who got tons of posts in argument..when giving
KoKo
Apr 2012
#50
I'm so relieved! So it really was the dumb homeowners after all. Nothing to see here, move along.
freshwest
Apr 2012
#2
Not at all, if you know how to play the game and insured yourself against the loss:
freshwest
Apr 2012
#22
Let's check the language here, too: Skank, probe, stupid, etc. RW spew if there every was one.
freshwest
Apr 2012
#78
Link me to an article any of those claim G-S alone caused the collapse?
banned from Kos
Apr 2012
#10
At least the 'probing' didn't result in a 'sex thread.' I was expecting that with no link given.
freshwest
Apr 2012
#26
No one said 'GS ALONE caused the collapse. That was the ultimate goal after years of other
sabrina 1
Apr 2012
#19
No link, but plenty of accusations and looking down on hard-working Americans who got screwed.
freshwest
Apr 2012
#27
Very wise, grasshopper. I have to leave this thread to stitch my sides up from laughing.
freshwest
Apr 2012
#42
Give me a plausible reason Glass-Steagall caused Lehman or WaMu to fail.
banned from Kos
Apr 2012
#32
William K. Black is a well-respected forensic economist who helped jail the S&L crooks.
Octafish
Apr 2012
#48
NO LINK? Are you trying to cover for LoZoccolo? He/She never gave links for Inflammatory Posts
KoKo
Apr 2012
#43
Fled from here and started another thread offering $1,000 since he can't make his case here.
freshwest
Apr 2012
#73
Just the other day, things got worse -- We the Taxpayers got put on the hook for the crooks' frauds.
Octafish
Apr 2012
#61
Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown. The repeal of the act did!
Better Believe It
Apr 2012
#66