More fodder for Obama/Biden

[striperman36]

from the AP

What had happened?
Some seeds of the current crisis were planted in the late 1990s, when Congress and President Clinton reshaped the financial landscape. They removed Depression-era barriers between commercial banks and investment firms and allowed the creation of financial behemoths where, years later, the risks of underwriting risky subprime mortgages were somewhat hidden.

A chief author of that law was Phil Gramm, then a Republican senator from Texas and until recently one of McCain’s top economic advisers.
McCain voted for a Senate version of the bill but did not vote on the final package. Democratic vice presidential nominee Joe Biden voted against the Senate version but for the final compromise that was signed by Clinton.

[Nebe]

Its pretty obvious that we are also paying the price for all of that 'free' money from Alan Greenspan.. cheap credit cards.. spend spend spend.. Buy tons of chinese crap.. create a huge trade deficit.. but what do I know.. i am just a lowly artist.

I blame it all on Clinton.. not bush... he was too busy trying to screw us in other ways

[spence]

Originally Posted by striperman36

from the AP

What had happened?
Some seeds of the current crisis were planted in the late 1990s, when Congress and President Clinton reshaped the financial landscape. They removed Depression-era barriers between commercial banks and investment firms and allowed the creation of financial behemoths where, years later, the risks of underwriting risky subprime mortgages were somewhat hidden.

A chief author of that law was Phil Gramm, then a Republican senator from Texas and until recently one of McCain’s top economic advisers.
McCain voted for a Senate version of the bill but did not vote on the final package. Democratic vice presidential nominee Joe Biden voted against the Senate version but for the final compromise that was signed by Clinton.

This is probably valid, although I'm sure there's more too it then that.

To be honest I don't hear much responsible economics coming from either side. As one newsmaker put it, it's just too complicated for most people to understand.

-spence

[striperman36]

laissez faire economics

happened through out history

[Nebe]

whats so complicated about it?

[sokinwet]

I'm gonna try that approach..
EPO: Sir...it appears that that striper measures 33 7/8"
SKW: I'm not going to cooperate in your investigation...I believe it's tainted by EPO bias!
Repub. Reality
EPO: OK sir...we'll let that slide this time (wink wink) I was being a little unfair in my investigation.
My Reality
EPO: Give me the keys to your boat and truck and put your hands behind your back.

[spence]

Originally Posted by Nebe

whats so complicated about it?

1) Requires a nuanced understanding of how markets operate
2) Requires people comprehend and accept things they don't want to hear

Watch CNBC then listen to politicians. It's as if they're often living other realities.

-spence

[striperman36]

Originally Posted by spence

1) Requires a nuanced understanding of how markets operate
2) Requires people comprehend and accept things they don't want to hear

Watch CNBC then listen to politicians. It's as if they're often living other realities.

-spence

Realities of the rich and pampered

[Nebe]

The whole mortgage crisis is Enron on a national scale- People should see jail time for this mess..

[striperman36]

Originally Posted by Nebe

The whole mortgage crisis is Enron on a national scale- People should see jail time for this mess..

I can see the congressional hearing now.

[EarnedStripes44]

Originally Posted by striperman36

from the AP

What had happened?
Some seeds of the current crisis were planted in the late 1990s, when Congress and President Clinton reshaped the financial landscape. They removed Depression-era barriers between commercial banks and investment firms and allowed the creation of financial behemoths where, years later, the risks of underwriting risky subprime mortgages were somewhat hidden.

A chief author of that law was Phil Gramm, then a Republican senator from Texas and until recently one of McCain’s top economic advisers.
McCain voted for a Senate version of the bill but did not vote on the final package. Democratic vice presidential nominee Joe Biden voted against the Senate version but for the final compromise that was signed by Clinton.

Throw Nafta in the mix. Clinton very well was one helluva of a Republican president.