Deregulation of what, may I ask? Banks,
Posted By: health ins., which point? nm on 2008-10-03
In Reply to: I know, You can't spell and/or has a lisp. - He voted for the Patriotic Act
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Key word = deregulation!
Thank you! At least someone else here has a grasp on reality!
Deregulation schemes..........
Well, if you want to talk dereglation, we would have to start with Bill Clinton, the person who ACTUALLY signed the deregulation act for banks in 1999.
It was called the "Financial Services Modernization Act of 1999". AND, I believe that he was Democrat. See, this is what happens when blabbering occurs without knowledge. Throw the blame game out there and not check your facts. I am not Republican but like I said on another post, all this republican finger pointing shows just how little you know.
You obviously have heard "deregulation" out the ying yang over the past few days but instead of wondering where it all started, you simply start yelling "Republican, republican, republican".
Deregulation of banks began in 1999 (that would be on Clinton's watch). That's now why things are completely out of control. When he took regulation out of the picture, financial companies from every corner of this country became more corrupt than ever, nothing to hold them back, no accountability for anything they did.
Unfortunately, other presidents and now, the citizens of this country, have had Clinton's crap land squarely in our laps. You're right.....Heaven help us all!!! However will we pay for all of Obama's social programs when we are broke, thanks to Clinton.
the subject is deregulation
of insurance companies which would result in collapse of the industry. Can you image the results of that? Do you think it might affect your teeny tiny job in any way?
Deregulation of unions in US
Gourdie: I definitely agree, and I find it such a shame that the workers and consumers in this country cannot see what has happened. All this talk about OSHA, etc. has no meaning anymore because the backbone of these government offices have no backbone and don't give a gnat's tweeter how the American workers have and continue to suffer.
I agree that McCain has been for deregulation...
yes. But when it counted, when he saw the crisis coming, he cosponsored legislation to REGULATE. Obama did not. This is not just about money. This is about putting your country first. WHen you see that your economy could be put in crisis because of a program in trouble, you should put country before party and fix it. Obama, Dodd, and Frank did not; in fact, made it worse by encouraging Fannie/Freddie to go on just like they were. That is about judgment. THat is about caring more about your country that your party or your career. Yes, I will accept that McCain had a lobbyist as recently as last month on his campaign. Will you accept that Jim Johnson, with Obama campaign until last month, was one of the CEOs who walked away from Fannie with a HUGE golden parachute, PERSONALLY benefitted from the cooked books?
No, I do not accept that McCain had anything to do with this crisis that faces us now. He is the only one who saw this coming and tried to head it off, and Obama and Biden BOTH helped kill it.
Obama showed very plainly that he put party and career first, and the American people second. As did Dodd, Frank, and yes, Biden because none of them would buck the party and help the legislation pass.
I think his judgment is wrong, I think his priorities are wrong, I think he and the Democrats are on the wrong side of this and Republicans are on the right side, specifically John McCain.
I am not convinced it was all about money. What I am convinced about is that it was party ahd politically motivated and we the rank and file Americans got thrown under the bus. McCain tried to stop the bus...the Democrats, Dodd, Obama in particular...pushed the accelerator.
link to mcClain's health deregulation
The Ad: We've seen what Bush-McCain policies have done to our economy. Now John McCain wants to do the same to our health care. McCain just published an article praising Wall Street deregulation. Said he'd reduce oversight of the health insurance industry, too. Just "as we have done over the last decade in banking." Increasing costs and threatening coverage. A prescription for disaster. John McCain. A risk we just can't afford to take.
An article in the obscure journal Contingencies, published under McCain's name, says: "Opening up the health insurance market to more vigorous, nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."
In the article, the Arizona senator certainly sounds like the strong advocate of deregulation he has always been. And the timing makes McCain sound like he is defending the loosening of federal rules on banks, now widely blamed for the Wall Street turmoil that has led President Bush to propose a $700 billion bailout of the banking and credit industries
Deregulation of health care system...
kiss your butt good-bye.
Banks
Out of 10,800 banks in this country, only .5% of 1% of the banks failed...............
which means Obama should have left it all alone. If he truly had people around him that cared about this country, they would have informed him to let the banks fail, that there were plenty of strong ones out there and he should just let the chips fall where they may.
He has stuck this country to the tune of trillions and we will be paying the price big time in a year or so when the inflation boom hits...... he preyed on fear, knowing so many would just think he suddenly knows the best thing to do. The best thing to do was nothing. Private companies fail all the time and the stronger ones survive. Simple as that. Strong ones buy out the weaker ones. That would have happened with no interference from the governement at all, as usual! Just like all the car manufacturers aren't failing. Fiat is looking at buying Saturn..... and life goes on. Private businesses should always be left alone.
The only reason AIG got such a big bailout is because many democratic friends of Obama and his cronies work there.... the names aren't that hard to find but you have to look for who knows who to start getting the picture. Such a pathetic shame!
And if the gov't had not deregulated banks,
brought about by pubs.
Two more banks go belly up..... sm
bringing the total to 19 failed banks now. 
http://money.cnn.com/2008/11/07/news/companies/bank_failure/index.htm?postversion=2008110721&eref=rss_topstories
don;t forget foreign banks
successfully lobbied to be included in this bailout. (John McCain's financial advisor Phil Gram is head of USB, Swiss bank)
And government ownership of banks.
x
it is called "job banks" and -
http://www.foxnews.com/politics/2008/11/21/automakers-ask-bailout-paying-workers-sit/
Here's the link to read all the information. They can do volunteer work for the community if they want to - but it is not required. Mostly they just sit there and collect the $31 an hour.
It should be $$ for banks, big oil and wall street, right?
x
And banks didn't have a choice?
They loaned money to people to buy McMansions that they could not afford - on purpose. The housing industry was booming. That way, they could forclose on these bad loans - keep the down payments and subsequent payments and resell the house. They were trading paper. Maybe you ought to educate yourself. Nah. Too far of a stretch. After all, the constitution-abiding president who just slunk off with his tail between his legs wasn't at all concerned about civil rights or the constitution. He was playing monopoly and destroying everything in his path - like rich, spoiled little boys do. You know, the ones who go AWOL from their service and receive no punishment. He probably still suckles grandma Barbara.
Oh, I get it. Kinda like the bailed out banks
I feel so much better now.
How many mortgages got sold to other banks?
Look at the big picture. They were selling houses to anyone who would sign on the dotted line - they did not give a fig whether or not you could afford it. They then boxed up a pile of these mortgages and sold them to other banks or mortgage companies with the premise - here's a box of rocks, there's gotta be a diamond in there somewhere. They WANTED these mortgages to fail. The housing market was booming - take the down payment, pass the mortgage around - foreclose on hapless patsies - and resell the house. They were MAKING MONEY OFF OF DOING THIS!!! But, they got greedy, and that box held all rocks and no diamonds. They screwed themselves as well as the American people who fell for this sham. But who is going to suffer the most?
That happened when the **banks got drunk**
//
This is truly socialism. These banks and rich Wall
Street types would be crying out if they gov't did this for the people, but they are begging for the help now. They had better come up with a plan that includes not big pay days for CEOs, etc. I was watching The View and Whoppi said they need to include something for the people, like wiping out half of the mortgages so the actual people who will benefit the economy, i.e. us because we spend money here in the U.S. can get back on our feets and go out and put some money back in the economy and not have to worry about losing a home, etc. I totally agree with that, but I can pretty much guarantee that will not happen.
Marx: Centralize credit in the banks.
private property. Right any bells?
How about Bush's plan of buying banks?
What's that called?
A Quiet Windfall for US Banks (While You Weren't Looking)
Here's you starter-kit that went under the radar screen, tax and spend lovers...
» Washington Post: A Quiet Windfall for US Banks
Who gave the banks all that money with no oversight?
This site would be much more interesting if you knew what you were talking about. You'll be sniveling in the bread lines along with the rest of us as a result of Bush's "I'm the Decider" BS. Better add some vodka to that Kool-Aid - it's going to be a miserable ride.
Same with the banks - they've lost MY business,
- if EVER. Take my Mastercard, for instance. Been a loyal customer, same bank for 30 years, yada, yada. Always make my payments, often in full, and other times way over the minimum. Never late, my checks don't bounce. So they raise my finance charges from 9% to 29% in one fell swoop!
Needless to say, that's it for me. I cleaned out my bank savings (which was only earning about .02% interest), and paid off the Mastercard with it. Will close the account. Now that there are checking account debit-cards, who needs the charge card? Plus it'll keep me from spending more than I have. In a dire emergency, I can always siphon a little out of my money market (which still earns something like 4-5% interest) to pay for emergencies in FULL, without running up credit card fees. So, there goes part of the banks' income!
If all of us rearranged our finances in such a way that we pay NO fees or finance charges, maybe the banks would have to find an HONEST way to make a profit. Wouldn't THAT be a revelation.
She said ACORN bullied banks into giving the loans....
she just said Obama was associated with them. ACORN did bully banks, and Obama WAS associated with them, through Project Vote. He trained the ACORN folks how to get out and get people registered, hired them to work on his senate campaign, and ACORN endorsed him. And they are under investigation for voter fraud in ALL the swing states. Admitted in Ohio today: yes, there will be fraud, its not our fault, we can't check every registration. Sounds like "He was just a guy in the neighborhood" excuse. Looks like he taught them well.
This guy is so dirty.
If socialism doesn't work - then why did W give the banks all that $$?
nm
Bush made Wall St Socialist and our banks so why do you even bother
We have socialism now but it's not the poor you blinded bigot.
"Evil" is George Bush, Wall Street, the Banks,
NM
Your precious Bush turned Wall St socialist and the banks TRUE
you voted for him and look what happened SOCIALISM by BUSH
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