[quote]pittbulll wrote:
. The video was very good , suggested by our own Beans
[/quote]
It is a good video.
Had I had any idea you were going to stop researching there, and pin your hat on “ZOMG DA REGALATIONS” I never would have brought it up.
You can’t make a sandwhich with just cheese, ya know what I mean?[/quote]
What have I posted that is half or less of the story? Did I point out something you did not like ? Meaning Reagan was the one that started deregulation . And according to 2 sources I pointed out Reagan started the deregulation of the BANKS
[quote]pittbulll wrote:
@ Beans how many experts on this board do you think have even spent an hour researching this subject ? [/quote]
I had an entire Masters course on Money and Banking. Reagan did deregulate the S&L’s, but as I said there was an actual good reason to do that. S&L’s and Commercial Banks were regulated differently, and the deregulation was to put S&L’s and Commercial Banks on the same playing field. This had nothing to do with the melt down of 2007-2008. The repeal of the Glass Steagal Act of 1933 by Clinton on the other hand had a direct claim to the melt down of 2007-2008.
[quote]pittbulll wrote:
@ Beans how many experts on this board do you think have even spent an hour researching this subject ? [/quote]
I had an entire Masters course on Money and Banking. Reagan did deregulate the S&L’s, but as I said there was an actual good reason to do that. S&L’s and Commercial Banks were regulated differently, and the deregulation was to put S&L’s and Commercial Banks on the same playing field. This had nothing to do with the melt down of 2007-2008. The repeal of the Glass Steagal Act of 1933 by Clinton on the other hand had a direct claim to the melt down of 2007-2008.[/quote]
Wiki places the S and L crisis squarely on Reagan and Bush and in some research there is some concern of Collusion on the part of Bush and a direct connection to Iran contra
It is fact Clinton repealed Glass Steagal but to claim Reagan’s deregulation had nothing to do with the last Banking Crisis would have to be nothing short sightedness . There are so many experts that say Reagan is squarely the first to deregulate the Banking industry. Google it
What have I posted that is half or less of the story?[/quote]
If you are talking about the meltdown of 2008 into 2009, yes you are barely telling half the story. That video is only the beginning.
But again, you, like many people, are so fucking happy you can blame this on a republican, you don’t bother to look into what happened and why it happened past “YES ZOMG I CAN BLAME DA GOP, AND PEOPLE ARE TOO DUMB TO KNOW I"M BEING A HACK WHEN I DO IT”.
LOL, typical. Just because I’m a conservative doesn’t mean I like everything Reagan did, nor him in general.
I assume everything Jon Stewart and Van Jones does is representive of how you feel and what you think?
[quote]Meaning Reagan was the one that started deregulation . And according to 2 sources I pointed out Reagan started the deregulation of the BANKS
[/quote]
Lol, yes, the government’s realtionship with banking started with an actor from California in the 1980s. Keep telling yourself that.
What have I posted that is half or less of the story?[/quote]
If you are talking about the meltdown of 2008 into 2009, yes you are barely telling half the story. That video is only the beginning.
But again, you, like many people, are so fucking happy you can blame this on a republican, you don’t bother to look into what happened and why it happened past “YES ZOMG I CAN BLAME DA GOP, AND PEOPLE ARE TOO DUMB TO KNOW I"M BEING A HACK WHEN I DO IT”.
LOL, typical. Just because I’m a conservative doesn’t mean I like everything Reagan did, nor him in general.
I assume everything Jon Stewart and Van Jones does is representive of how you feel and what you think?
[quote]Meaning Reagan was the one that started deregulation . And according to 2 sources I pointed out Reagan started the deregulation of the BANKS
[/quote]
Lol, yes, the government’s realtionship with banking started with an actor from California in the 1980s. Keep telling yourself that.
[/quote]
Only a partisan hack like you would equate the things I have posted as being , me blaming just the Republicans
[quote]pittbulll wrote:
@ Beans how many experts on this board do you think have even spent an hour researching this subject ? [/quote]
I had an entire Masters course on Money and Banking. Reagan did deregulate the S&L’s, but as I said there was an actual good reason to do that. S&L’s and Commercial Banks were regulated differently, and the deregulation was to put S&L’s and Commercial Banks on the same playing field. This had nothing to do with the melt down of 2007-2008. The repeal of the Glass Steagal Act of 1933 by Clinton on the other hand had a direct claim to the melt down of 2007-2008.[/quote]
Wiki places the S and L crisis squarely on Reagan and Bush and in some research there is some concern of Collusion on the part of Bush and a direct connection to Iran contra
It is fact Clinton repealed Glass Steagal but to claim Reagan’s deregulation had nothing to do with the last Banking Crisis would have to be nothing short sightedness . There are so many experts that say Reagan is squarely the first to deregulate the Banking industry. Google it
[/quote]
You are comparing Apples to Oranges.
Reagan deregulated the S&L’s I am not debating that. Late 80’s Early 90’s is when the S&L crisis was wound up. Most went out of business. In fact there are not many S&L’s left. The last big one was Washington Mutual. Without Deregulation the S&L Crisis would have been 10 times worse.
The Glass Stegal Act was the deregulation of Banks not S&L’s, but a case could be made because Reagan deregulated S&L’s so they could be more like Banks then Readan is the reason more banks were affected by the meltdown of 2007-2008 then I will consede that, but not that it was started with Glass Stegal under Clinton not the S&L deregulation. Before Clinton deregulated the Banks everything was just fine and moving right along. The Glass Stegal Act still had a wall between Banks and Insurance/Investment products. In fact Banks could not sell any Insurance or Investment Products until the Glass Stegal Act was done away with. Banks were only limited to selling bank products (checking, savings, CD’s, Loans, Mortgages, that sorts of things). After Glass Stegal was done away with they now got into Colateralized Debt Obligations (CDO’s), Derivatives (Options and Futures), Structured Finance products. I used to manage $1.5 Billion worth of Commercial Loan Structured Finance Products. I know how a lot of high finance products work, and they were and are very risky. Glass Stegal did that not deregulation of S&L’s.
I guess if Glass Stegal was brought down 100 years after Reagan was in office, and then there was a melt down you would still blame Reagan.
You are like my mother. She blames everything on Reagan because she is a school teacher, never paid into Social Security, and hates Reagan because He changed the SSN laws so teachers could not collect SSN.
Deregulation of S&L’s is NOT the same thing as the removal of Glass Stegal Act of 1933. I do not care who you site from Wiki.
[quote]pittbulll wrote:
@ Beans how many experts on this board do you think have even spent an hour researching this subject ? [/quote]
I had an entire Masters course on Money and Banking. Reagan did deregulate the S&L’s, but as I said there was an actual good reason to do that. S&L’s and Commercial Banks were regulated differently, and the deregulation was to put S&L’s and Commercial Banks on the same playing field. This had nothing to do with the melt down of 2007-2008. The repeal of the Glass Steagal Act of 1933 by Clinton on the other hand had a direct claim to the melt down of 2007-2008.[/quote]
Wiki places the S and L crisis squarely on Reagan and Bush and in some research there is some concern of Collusion on the part of Bush and a direct connection to Iran contra
It is fact Clinton repealed Glass Steagal but to claim Reagan’s deregulation had nothing to do with the last Banking Crisis would have to be nothing short sightedness . There are so many experts that say Reagan is squarely the first to deregulate the Banking industry. Google it
[/quote]
You are comparing Apples to Oranges.
Reagan deregulated the S&L’s I am not debating that. Late 80’s Early 90’s is when the S&L crisis was wound up. Most went out of business. In fact there are not many S&L’s left. The last big one was Washington Mutual. Without Deregulation the S&L Crisis would have been 10 times worse.
The Glass Stegal Act was the deregulation of Banks not S&L’s, but a case could be made because Reagan deregulated S&L’s so they could be more like Banks then Readan is the reason more banks were affected by the meltdown of 2007-2008 then I will consede that, but not that it was started with Glass Stegal under Clinton not the S&L deregulation. Before Clinton deregulated the Banks everything was just fine and moving right along. The Glass Stegal Act still had a wall between Banks and Insurance/Investment products. In fact Banks could not sell any Insurance or Investment Products until the Glass Stegal Act was done away with. Banks were only limited to selling bank products (checking, savings, CD’s, Loans, Mortgages, that sorts of things). After Glass Stegal was done away with they now got into Colateralized Debt Obligations (CDO’s), Derivatives (Options and Futures), Structured Finance products. I used to manage $1.5 Billion worth of Commercial Loan Structured Finance Products. I know how a lot of high finance products work, and they were and are very risky. Glass Stegal did that not deregulation of S&L’s.
I guess if Glass Stegal was brought down 100 years after Reagan was in office, and then there was a melt down you would still blame Reagan.
You are like my mother. She blames everything on Reagan because she is a school teacher, never paid into Social Security, and hates Reagan because He changed the SSN laws so teachers could not collect SSN.
Deregulation of S&L’s is NOT the same thing as the removal of Glass Stegal Act of 1933. I do not care who you site from Wiki. [/quote]
I am making no aspersions on anything other than stating Reagan started the Deregulation of banks . I do not say so wiki and google do
Deregulation ( meaning removing fines and penalties for impropriety )
[/quote]
Deregulation was not, nor has it ever, been even remotely close to the sole, or most important factor when it comes to the melt-down of 2008-2009.
[/quote]
It was allowing anybody with a pulse to purchase a 300K home.
Anybody remember what president made it his main objective to get people into homes?
Deregulation ( meaning removing fines and penalties for impropriety )
[/quote]
Deregulation was not, nor has it ever, been even remotely close to the sole, or most important factor when it comes to the melt-down of 2008-2009.
[/quote]
I don’t know that the different factors can be ranked by importance. I’d simply say that the two big factors were reckless idiot borrowers and uninhibited (i.e., unregulated) reckless idiots on Wall Street. Neither can be put above the other in order of importance because the meltdown wouldn’t have happened like it did absent either one of them.
In other words, a big old slice of blame goes to the clowns at Morgan Stanley who bundled up a bunch of toxic debt for sale and then suggested calling it–and these are real quotes–“nuclear holocaust,” “subprime meltdown,” “Mike Tyson Punchout,” or “shitbag.”
Deregulation ( meaning removing fines and penalties for impropriety )
[/quote]
Deregulation was not, nor has it ever, been even remotely close to the sole, or most important factor when it comes to the melt-down of 2008-2009.
[/quote]
(A BIG FUCKING EYE ROLL:) be back Friday Deregulation was the ONLY REASON for our last crisis
[quote]smh23 wrote:
I’d simply say that the two big factors were reckless idiot borrowers[/quote]
For sure, and the sharks that were making buku bucks in commissions on the deals, the RE Brokers making commissions on the deals, and the lending institutions making killer float on cheap money due to Fed interest rate policy.
We were (and still are) like drug addicts, with cheap cheap drugs (money) sitting on the table. Pushed by tax policy and social policy to want to purchase a home, and not just any home, but the dream home, instantly.
I wouldn’t call them idiots, but agree with the rest.
And it isn’t like these investments wouldn’t have been made, sold and re-sold if DA RAGALATIONS prevented the people that did it from doing it. Someone would have still done it, and the effect on the market at large would have been the same.
Only major difference DA RAGALATIONS would have stopped is TARP, or at least lessoned its amount, as AIG would still need a bailout, and so would have most of the banks that needed one anyway.
[quote]
In other words, a big old slice of blame goes to the clowns at Morgan Stanley who bundled up a bunch of toxic debt for sale[/quote]
Without question. I don’t absolve them of anything. My major grip in these conversations is with people that point to one singular government angle and hang their collective hats on regulation. They are being borderline moronic, or partisian hacks. Maybe both.
[quote]pittbulll wrote:
Deregulation was the ONLY REASON for our last crisis
[/quote]
You don’t understand what happened, and haven’t the faintest idea what you are talking about. But please quote wiki and Occupy to prove the point you don’t have.
AIG would still need a bailout, and so would have most of the banks that needed one anyway.
[/quote]
The old CEO of AIG is bringing a Class Action Lawsuit against the US Government. I saw this on either CNBC or Fox Business. He is claiming the US Government over ran AIG to pay off the other banks. He is claiming that AIG had the assets to cover the losses, but the US Government needed to move quickly to bail every other bank out, and in the process stole AIG from him. This will be a lawsuit to watch.
[quote]pittbulll wrote:
Deregulation was the ONLY REASON for our last crisis
[/quote]
You don’t understand what happened, and haven’t the faintest idea what you are talking about. But please quote wiki and Occupy to prove the point you don’t have. [/quote]
I agree with CB. Pittbull you are way in over your head.
AIG would still need a bailout, and so would have most of the banks that needed one anyway.
[/quote]
The old CEO of AIG is bringing a Class Action Lawsuit against the US Government. I saw this on either CNBC or Fox Business. He is claiming the US Government over ran AIG to pay off the other banks. He is claiming that AIG had the assets to cover the losses, but the US Government needed to move quickly to bail every other bank out, and in the process stole AIG from him. This will be a lawsuit to watch.[/quote]
I gotta say that is NOT what the narrative at the time said, and I followed NPR for a lot of the coverage of the meltdown. I was glued to it.
I do believe based on what I have been told, that Paulson (or the government at large) forced AIG to pay out 100 cents on the dollar. You never, ever see that when a company is going under, and in a typical bancruptcy I believe that would more likely than not be seen as a preferential payment.