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#1 |
Senior Member
Join Date: Dec 2006
Posts: 8,596
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Travis Henry is the 3rd person who seems to think I want no regulation at all. I went back and read my post just to see if I was unclear.
I don't think I said that. Either I need to take a communications class, or you folks need to read a little more closely before knee-jerking.
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"Have we been commanded not to call a prophet an insular racist? Link?" "And yes, [2010] is a very good year to be a Democrat. Perhaps the best year in decades ..." - Cali Coug "Oh dear, granny, what a long tail our puss has got." - Brigham Young |
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#2 | |
Demiurge
Join Date: Aug 2005
Posts: 36,367
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#3 | |
Junior Member
Join Date: Oct 2007
Posts: 63
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What it looks like to me is you make weak, uninformed statements that seem to follow line for line with a hardcore conservative stance. Then people point out the weakness, and then you state you never made that stance in the first place. |
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#4 | ||||
Senior Member
Join Date: Dec 2006
Posts: 8,596
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And I think Sarbanes-Oxley is an albatross. Typical overreaction by politicians wanting to show they are doing something in an election year. Lastly, citing the Great Depression is the Godwin's law of economic discussions.
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"Have we been commanded not to call a prophet an insular racist? Link?" "And yes, [2010] is a very good year to be a Democrat. Perhaps the best year in decades ..." - Cali Coug "Oh dear, granny, what a long tail our puss has got." - Brigham Young |
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#5 | |||
Senior Member
Join Date: Dec 2006
Posts: 8,596
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Here's Jim Geraughty's take on the candidates' responses to Wall Street's problems. His feelings echo my own:
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"Have we been commanded not to call a prophet an insular racist? Link?" "And yes, [2010] is a very good year to be a Democrat. Perhaps the best year in decades ..." - Cali Coug "Oh dear, granny, what a long tail our puss has got." - Brigham Young |
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#6 | |
Junior Member
Join Date: Oct 2007
Posts: 63
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Citing to the Great Depression is perfectly relevant to the discussion because a lot of the things happening right now are strikingly similar to what happened during the onset of the Depression. Some of the symptoms of the current financial crisis are similar to what led to the Great Depression. As a sidenote, Ben Bernanke's Doctoral Thesis argued that greater intervention by the Fed during the initial panic that led to Great Depression would have prevented some of the long lasting effects. Ironically enough, Bernanke is now dealing with some very similar occurrences. So yeah, I think references to the Great Depression are not merely the equivalent of using an economic Nazi card. Sarbanes-Oxley is one thing, and I'm curious as to whether you know anything about Sarbanes-Oxley or are you just repeating the party line? I will agree that having an agency oversee and check off on things during their implementation is usually repressive, expensive and really not needed. But I'm referring to laws and regulations- certain things are prohibited, and you if you violate them, then you're breaking the law. For instance if there were a law that stated no negative amortization or interest only loan were to ever be given to someone with net worth of less than $10 million, I think a huge part of the current problem would have been avoided. If a lending institution provided such loans, they would be breaking the law and would be subject to criminal prosecution. If you track the increase in prices in California you'll find that they strongly correlate to the increased use of Options ARMs and interest only loans. People look more at the monthly payment on a house as opposed to the overall price. Additionally, the low initial teaser payments allowed house flippers to buy multiple properties to the point that up to 40% of the demand in many markets (e.g. Phoenix, Vegas, the inland empire) was due to house flippers. Eliminate the illusory demand and you get rid of a significant factor that led to the housing bubble. I would venture to say that without these suicide loans, we don't have the current crisis. Housing prices don't escalate to the point where they were bound to significantly fall and the values on the underlying collateral on the MBS don't diminish. All of sudden Lehman Brothers and AIG don't have huge liquidity problems and the Fed doesn't have to bail out Fannie Mae. And it all could have been averted if the use of Option ARMs and interest only loans were sharply curtailed. |
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#7 | ||||
Senior Member
Join Date: Dec 2006
Posts: 8,596
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In addition, some of the new procedures our IT group had to follow to be "compliant" were ridiculously intrusive, but my work (personally) was only marginally affected. Quote:
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"Have we been commanded not to call a prophet an insular racist? Link?" "And yes, [2010] is a very good year to be a Democrat. Perhaps the best year in decades ..." - Cali Coug "Oh dear, granny, what a long tail our puss has got." - Brigham Young Last edited by Tex; 09-17-2008 at 04:48 PM. |
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#8 | |
Senior Member
Join Date: Aug 2005
Location: Orange County, California
Posts: 3,059
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Color me unsurprised that you part with someone because they're not far enough to the right. Let me know when you disagree with someone because they're too conservative.
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Get your stinking paws off me, you damned, dirty Yewt! "Now perhaps as I spanked myself screaming out "Kozlowski, say it like you mean it bitch!" might have been out of line, but such was the mood." - Goatnapper "If you want to fatten a pig up to make the pig MORE delicious, you can feed it almost anything. Seriously. The pig is like the car on Back to the Future. You put in garbage, and out comes something magical!" - Cali Coug |
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#9 | |
Assistant to the Regional Manager
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
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So how can one disagree with whatever is good and righteous? I don't find her to be my first, second or third choice for VP because she's from a small state with no electoral votes and doesn't have any experience. Obama having only three years in the Senate doesn't impress me either. What the hell do these parties think of us that they throw these neophytes at us. But at least Palin has executive experience. What's the sum total of executive experience of the other three candidates combined? Zero. IOW, you and I have the same amount of political executive experience.
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Ἓν οἶδα ὅτι οὐδὲν οἶδα |
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#10 |
Senior Member
Join Date: Dec 2006
Posts: 8,596
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Reductio ad absurdum.
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"Have we been commanded not to call a prophet an insular racist? Link?" "And yes, [2010] is a very good year to be a Democrat. Perhaps the best year in decades ..." - Cali Coug "Oh dear, granny, what a long tail our puss has got." - Brigham Young |
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