You most certainly are a lowly --Liar

[johnaa]

  Of course disagreeing with me doesn't make anyone a LIAR   You are again attempting to deceive when you misconstrue what I wrote.-- Your LIE is in your attempt to blame the existence of the legislation solely on the guy who signed it, by using part of the TRUTH instead of the whole-truth-nothing-but-the-Truth.    You persist in attempting to claim there is a substantial difference between D&Rs playing the stupid blame game, often by way of not using the whole truth and exaggeration.  You are too dishonest to recognize the difference between the Truth and Lies, I hope at some point in your life you will learn what that difference is.

   Your opinion of who believe me is of no concern to me.   I have little doubt many have a opinion of your Honesty and I have made my opinion quite plain. .

[bruce MN]

Yes they did. Mentioned ill-advised deregulation, loose standards, lack of oversight of electronic transactions and the inmates running the asylum (AKA the trade and the banks being allowed to "regulate" themselves) right off in the early reporting on the crisis. And then hardly a peep again from CBS or any of the big 4 broadcast outfits until just now this past Sunday night.

Greenspan a tachnocrat? Wouldn't a technocrat lay down standards and not simply facilitate innaction, as he did? He didn't engineer or drive anything. He was your girl Ayn Rand's libertarian "boy toy". 180 degrees across for progressive.

Did BA ghost write that for you? It's got the sound of that scoop shovel full of cow slop aimed at a wall. Half facts constructed out of and attemtping to equate unrelated negatives.  Almost Orwellian in quality.

If you want to rip into Greenspan, upon which I will join you enthusiasticly, yetalso want to get into a discussion of any particular political or economic policy, as you and I have often. I recommend we do it under seperate threads.

Or is there some new purified strain of libertarianism (possibly a hybrid of Hayek and evangelicalism)  that is taking the position that everything that has happened anywhere since 1913 or 1972 or 2008 has been an enethma? that Greenspan is no different than, and in fact culpable with Wilson and Nixon? 

That was lame. No wonder 3020 liked it. It was probably titilating for him. He'd never seen anybody try anything quite that wholly unatural before.

[dagwud]

Sam, most of what 60 Minutes covered was about what went on at Country Wide and Citi Bank later known as CitiGroup after it merged with Travelers Insurance in 1998.   They claimed that loan officers were rewarded financially based on the number of loans they made and there was no concern if the loans were toxic or not.  As the whistle blowers on 60 Minutes said the warnings by officials at those two banks who's job it was to check for bad loans were simply ignored from the top on down.   The banks were then lying about the quality of their bundled loans that they were reselling to others.

60 Minutes repeatedly refereed to the two banks reported on being in violation of the Sarbanes - Oxley Act which was passed in 2002 in response to a number of corporate accounting scandals such as those at Enron and Tyco.   The Sarbanes - Oxley Act makes it a crime punishable by 5 years in prison for CEOs and CFOs to falsely certify and approve the integrity of their company financial reports quarterly which according to 60 Minutes was done by those at Country Wide and Citi Bank.

John, I think you are going a bit tough on BA.   He  makes a valid point in that Clinton did sign the Gramm - Leach - Bliley Act as oppose to vetoing it.  While Repubs proposed the bill and the vote in the Senate was almost straight across party lines, the vote in the House was more bi-partisan with 69 Dems voting in favor of it. 

In reading on the passage of the Gramm - Leach - Bliley Act, I came across the following on Wikipedia.  "Many assume WalMart's desire to convert its industrial bank to a commercial/retail bank ultimately drove the banking industry to back the GLB restrictions."  WalMart was founded and head quartered in Arkansas and made political donations to both Bill and Hillary's political campaigns.  Hillary was also on the board of directors at Walmart while Bill was gov. of Arkansas.  Makes one wonder if Bill would have ever have wanted to veto the GLB Act.

[BA Deere]

John, in the brevity of posting on here one must take certain "liberties" I was responding to Schurrbart a well known liberal that was impling that `Repubs killed banking regs and stood in the way of Dems reinstating meaningfull financial regulations`  I actually made the point to say "Clinton signed the repeal of Glass-Steagall" to show that the Dems were also up to their eyeballs in deregulation as well and the "wonderfull Clinton economy brought on by raising taxes", is a fraud.  Like all "parties" they are fun before midnight, after midnight the mean drunks show up and trash the place, well Clinton`s economic party is way past the fun stage..the folks called from the airport and we have 1/2 hour to clean the mess up.  John, if you`re "concerned about rights" I would suggest that there is a BIG difference between the R and D.   If McCain won in 08 would we have Obamacare???  Open homosexiuals in the Army??? Did you hear this John and I hope someone starts a separate thread on this? ...after homosexiuals got rights in the Army, they now have to give those same rights to individuals that copulate with animals?  I argued and argued the homos in the Army would be a slippery slope for other weirdness "Oh no you`re wrong about at!  It will never ever happen."  Well guess what John I was right, no surprise in that, but there is a big freaking difference in R and D and you need to wake up!  If there are any decent people left they are in the Republican party...BTW Ron Paul is Republican!  

[r3020]

---

@dagwud wrote:

 The banks were then lying about the quality of their bundled loans that they were reselling to others.

60 Minutes repeatedly refereed to the two banks reported on being in violation of the Sarbanes - Oxley Act which was passed in 2002 in response to a number of corporate accounting scandals such as those at Enron and Tyco.   The Sarbanes - Oxley Act makes it a crime punishable by 5 years in prison for CEOs and CFOs to falsely certify and approve the integrity of their company financial reports quarterly which according to 60 Minutes was done by those at Country Wide and Citi Bank.

---

What good are more regulations? Are there no penalties for violations of the ones you listed? The only thing that could have helped is a government limited enough not to have bailed them out. They could have fought it in the courts or burned each others houses and shot who ever ran out. The failure was one of the government.

[dagwud]

r3020 -  What good are more regulations? Are there no penalties for violations of the ones you listed? The only thing that could have helped is a government limited enough not to have bailed them out. They could have fought it in the courts or burned each others houses and shot who ever ran out. The failure was one of the government.

Dems like to blame Repubs and Repubs like to blame Dems for our financial crisis and the crooked behavior of Wall Street banks.   I see both parties neglecting their duties of serving the American people.  Both parties use the revolving door with Wall Street banks to run their treasury dept and often to choose governors to sit on the federal reserve.  While the Obama DOJ seems to have little interest in pursuing the corruption on Wall Street, I doubt there would be much difference between the Bush DOJ or a McCain DOJ.   However the thing we must do now is to put pressure on the current DOJ to start doing their jobs.

I would love to see Congressional hearings into why the Country Wide CEO was prosecuted by the SEC rather then the DOJ.  

[johnaa]

   My sense of ethics leads me to avoid deception and other forms of taking "liberties" with the truth, I prefer to live in the real world and not a make up fantasies in an attempt to change what is.   

     I'm not a mystic and cannot say what would have happened if McCain was elected and do not wish to engage in your game of discussing things which did not happen and do not exist.  

  I don't believe the issue of homosexuals in the service is anything but a distraction used by parrotmasters to keep fools busy playing the blame game instead of what they are doing, and, keep fools from recognizing that politicians from both parties serve the same Plutocrats.  Homosexuals have and do serve in the the military.  You can start a thread and discuss it with other's, but leave me out of it.  I have real issues on my mind.  You seem to be fascinated with homosexuality and what happens to men's anus', it doesn't interest me, find someone else who shares your passions to interact with. 

     What you are attempting to claim as "a big freaking difference", in relevance to American blood and wealth being wasted and mis-used by international criminals, and the destruction of our Republic and constitutional order it is nothing but a means to distract fools.  Wake Up and greet reality!  

[Nebrfarmr]

Dems like to blame Repubs and Repubs like to blame Dems for our financial crisis and the crooked behavior of Wall Street banks.   I see both parties neglecting their duties of serving the American people.  Both parties use the revolving door with Wall Street banks to run their treasury dept and often to choose governors to sit on the federal reserve

I think both parties are too enamored by the big $$$$ there, than getting to the heart of the problem.  Too many heads rolling = less $$$ for campaign contributions.

[r3020]

Dag, you said a whole bunch without saying anything. What good is more big government regulations? They will solve nothing.