Stoney Mason
Banned
Great interview on TDS. How people aren't charging the white house with pitchforks at this president and vice president I'll never know...
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PoliGAF Interim Thread of cunning stunts and desperate punts
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Ok...Kittowny said:
We've been down this road before, quite a few times.
Back then we set up institutions and laws to keep companies honest and accountable, and to limit the damage of future banking failures.
Fast-forward to the modern day when such companies and the political party representing them wanted these safeguards removed claiming they were stifling their true earning potential saying TRUST US.
All hell breaks loose, and here you are today acting like this is entirely novel.
speculawyer
Member
Certainly not the area he has focused on . . . but he did work for an economic publication. And he's got some great advisors like Volker and RubinKittonwy said:
And he is by no means "america's savior" . . . but my goal is just not to have another person that totally fucks things up. Is that too much to ask for? Do we really need the elect the guy who said he doesn't know anything about economics?
Ignatz Mouse
Banned
reilo said:
We had about three news cycles. It was a little insane.
McCain sez ecomony OK
Biden, Obama jump on it
McCain said "workers" OK
Obama calls him out on it.
Kittonwy, since you work in the financial industry and as such have a wealth of knowledge about the issue, would you please offer me a critique of what Michael Lewitt argues here vis-a-vis regulation? http://www.harchcapital.com/Pdfs/how to fix it- welling.pdf
now, this might be tricky because of your avowed stance against reading, but i trust you'll look past that to help me out.
now, this might be tricky because of your avowed stance against reading, but i trust you'll look past that to help me out.
speculawyer
Member
Those who fail to study history are doomed to repeat it.Hitokage said:
It really is more than just an empty saying.
Stoney Mason
Banned
Imm0rt4l said:
Disagree. I thought the commentary section was fine and the interview was fine. That anchor skit wasn't so hot but 2 out of 3 good segments generally equal a good daily show for me.
Ether_Snake
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Kittonwy said:
Oh oh oh, Kittonwy saying that there would have been a need for regulation?
polyh3dron
Banned
POWPOWPOWPOWPOWPOWPOW
Stoney Mason
Banned
Tamanon said:
Brutal. So good. :lol
polyh3dron
Banned
OK Colbert just owned McCain's campaign harder than anyone has so far.
heliosRAzi
Banned
He was a POW for five and a half years, he didn't have lipstick or a pig!
Stoney Mason
Banned
Tamanon said:
They are just so good because they point out the fucking hypocrisy when the media won't.
lo escondido
Apartheid is, in fact, not institutional racism
:lol :lol :lolViperVisor said:
phalestine
aka iby.h
ViperVisor said:
Thats actually kinda funny :lol
speculawyer
Member
Obviously not. Duh!Kittonwy said:
A lot of people tried to get loans . . . so what? Many of them were stupid & irresponsible and they should not have tried to get loans. Yeah . . . I blame them. But they are stupid.
The people with the money are supposed to be the smart ones though. They should have known better. But they lended the money anyway. So they get a lot of blame too.
speculawyer
Member
Kittonwy said:Vote for Ron Paul.
He can't win.
Kittonwy said:
Uhh, no shit. Of course if our culture were different, and people had good sense, they wouldn't enter into agreements where they bite off more than they can chew. But there need to be checks at multiple levels to ensure that the errors of the (frequently ill-informed) common folk don't become systemic risks.
That, ostensibly, is why we employ professionals, since they should know better and should exercise sound judgment by taking a broader view. This is also -- again, ostensibly -- why we have regulatory agencies. These fail-safes didn't work because they stopped taking their role as fail-safes seriously. We're bearing the fruits of the abandonment of that responsibility now.
Saint Gregory
Member
I just went to Youtube to check the latest ads and all three "Recommended for You" clips at the top are anti-Mccain. Is that telling about me or the traffic on Youtube?
Byakuya769
Member
Hitokage said:
Those who fail to learn from history... how's the rest of that go?
Ether_Snake
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Kittonwy said:
Errr was there some sort of common sense regulation in place I was not aware of?
Obviously it wouldn't take care of that, it didn't!
LAWS regulate human actions, not sense, especially not the common kind!
Ether_Snake
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Stoney Mason said:
I can't watch it, comedycentral.com is blocked in Canada:|
speculawyer said:
Of course he can't. Like Huckabee, Romney, Hillary Clinton, Mary Ruwart, etc., he ran for a party's nomination and lost. So you can't win if you're not on any ballot.
Unless you mean for Congress. In which case, I don't think any of us are in his district.
Byakuya769
Member
Kittonwy said:
wouldn't common sense tell lenders not to go for mortgages that they won't collect on?
Common sense doesn't last in the face of speculation frenzy. Remember how people in the 90s declared we had a "New Economy" of perpetual boom? Actually, remember the tv show made with that as the tagline just before it all came down? :lolByakuya769 said:
Anyway, the exact same mentality cropped up with certain banks finding that certain financial devices made struggling debtors more profitable than those who paid in full on time, and since they sell the loan to somebody else anyway, people began to feel invincible even through it was all based on a housing bubble many people recognized years before it popped.
Byakuya769
Member
Hitokage said:
Oh I know, I was more aiming to combat a "common sense" argument with a "common sense" argument.
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