aceofspadeshq at gee mail.com
CBD:
cbd.aoshq at gee mail.com
Buck:
buck.throckmorton at protonmail.com
joe mannix:
mannix2024 at proton.me
MisHum:
petmorons at gee mail.com
J.J. Sefton:
sefton at cutjibnewsletter.com
Hmmmmm...
From Instapundit, a new book alleges, get this, the central role of government in the housing crisis and the ensuing whitewashing and cover-up.
Subprime Scandal: We've long suspected the Financial Crisis Inquiry Commission wasn't honest in examining events before the meltdown. But an ex-commissioner says the probe was actually a full-blown political cover-up. In a just-released book, former FCIC member Peter Wallison says that a Democratic Congress worked with the commission's Democratic chairman to whitewash the government's central role in the mortgage debacle. The conspiracy helped protect some of the Democrats' biggest stars from scrutiny and accountability while helping justify the biggest government takeover of the financial sector since the New Deal. Wallison's sobering, trenchantly written "Hidden in Plain Sight: What Really Caused the World's Worst Financial Crisis and Why It Could Happen Again" reveals that the Democrat-led panel buried key data proving that the U.S. Department of Housing and Urban Development and other federal agencies pushed the housing market over the subprime cliff. The final FCIC report put the blame squarely on Wall Street. In 2009, then-House Speaker Nancy Pelosi appointed her California pal Phil Angelides, a long-time Democrat operative, to lead the commission. The fix seemed to be in, and Wallison's account of the inner workings of the 10-member body confirms it.I'll be downloading that.
Comments
(Jump to bottom of comments)Posted by: zombie at January 23, 2015 01:06 PM (K4YiS)
Posted by: HH at January 23, 2015 01:07 PM (Ce4DF)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:07 PM (kff5f)
That government is protecting itself is...shocking.
Really. I'm shocked.
Posted by: CharlieBrown'sDildo at January 23, 2015 01:07 PM (Zu3d9)
Posted by: buzzion at January 23, 2015 01:07 PM (zt+N6)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:07 PM (kff5f)
Posted by: Ricardo Kill at January 23, 2015 01:08 PM (AbFmZ)
Posted by: HoboJerk, The State Loves You at January 23, 2015 01:08 PM (FA3Z7)
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:08 PM (Bn6aD)
Not President Obama or Senator Obama but lawyer Obama:
http://tinyurl.com/navhucb
$60K for the plaintiffs
~$1M for the lawyers
coupons for members of the class and it's not clear that they even got those.
Posted by: AmishDude at January 23, 2015 01:08 PM (L2xDv)
Posted by: Vic at January 23, 2015 01:08 PM (wlDny)
Posted by: zombie at January 23, 2015 01:06 PM (K4YiS)
If not a troll.... the banks loved it because the govt promised them protection. Regulatory Capture is a beautiful thing.
Posted by: HoboJerk, The State Loves You at January 23, 2015 01:08 PM (FA3Z7)
Posted by: toby928(C) at January 23, 2015 01:09 PM (rwI+c)
http://www.zombietime.com/zomblog/?p=60
The Greenlining Institute: Does the financial crisis have its origins in Berkeley?
"Once upon a time, banks only loaned money to individuals who could qualify for a home mortgage; and then sometime recently, they changed their practices and started loaning money to a lot of people who didn’t qualify and could not afford to pay back the loans. And when they started defaulting, and when real estate values starting dropping, the entire industry collapsed, because there was no equity to pay back the loans. The banks lost money, the customers lost money, and it all went down the toilet. Which, of course, many people had predicted. So the question is: Why? Why did banks start making countless risky untenable loans to unqualified customers?
And the answer is: Because they were afraid of being called racists by the legal bullies at the Greenlining Institute and other similar “community organizers.”
It all started with The Community Reinvestment Act, a federal law originally passed during the Carter administration and then ramped up during the Clinton years, that was originally designed to prevent racist lending practices by banks who wouldn’t loan money to minorities, even if they were qualified. Which was a fine idea. But over time the law was twisted to force banks to make loans to minorities even if they weren’t qualified — which all may sound very peachy keen in Fantasy Utopia Land but which inevitably spells long-term financial suicide for a bank.
The Greenlining Institute’s self-appointed role is to identify those banks which by Greenlining’s reckoning haven’t doled out enough money to underqualified minority borrowers, and then threaten them with lawsuits, protests, and accusations of institutional racism if the banks don’t start opening their wallets ASAP. And the banks caved. Greenlining brags that they have unparalleled access to banking boardrooms, and they successfully squeezed $2.4 trillion (yes, trillion) in “CRA commitments” (i.e. loans to unqualified borrowers) out of terrified banks. Nearly every bank and financial institution you’ve ever heard of seems to kowtow to Greenlining."
Posted by: zombie at January 23, 2015 01:09 PM (K4YiS)
Yeah, but this seems to be more than that.
Or maybe I'm reading more into the blurb than is warranted.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:09 PM (kff5f)
Posted by: rickb223 at January 23, 2015 01:09 PM (zESFM)
In other shocking news, water is wet.
Knew this from day 1.
Posted by: Citizen X at January 23, 2015 01:09 PM (7ObY1)
Posted by: Model Government Employee at January 23, 2015 01:09 PM (VAsIq)
Sounds like a classic #6.
Posted by: Ricardo Kill at January 23, 2015 01:09 PM (AbFmZ)
Posted by: Lauren at January 23, 2015 01:10 PM (MYCIw)
'zactly. Somehow I don't think BoA consider themselves victims.
Posted by: Citizen X at January 23, 2015 01:10 PM (7ObY1)
Posted by: Thin veneer of civility at January 23, 2015 01:11 PM (XzRw1)
No, zombie is not a troll.
But you're right- most banks looooved the new status quo. And credit default swaps? They couldn't get enough of those.
We're talking the big national banks, of course. I don't know about other states, but in Texas, the State and Community banks seemed to know that was a disaster waiting to happen, and so mostly stayed out of it, as much as the National Gov't would allow.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:11 PM (kff5f)
Maybe but they did get some pretty stiff fines...
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:11 PM (Bn6aD)
But it's just a pet theory of mine.
Posted by: DaveA at January 23, 2015 01:11 PM (DL2i+)
Posted by: Guy who's now homeless but still votes for Democrats at January 23, 2015 01:11 PM (VAsIq)
Posted by: Eromero at January 23, 2015 01:11 PM (go5uR)
Posted by: Bill R. at January 23, 2015 01:11 PM (jKUeC)
Posted by: zombie at January 23, 2015 01:06 PM (K4YiS)
If not a troll.... the banks loved it because the govt promised them protection. Regulatory Capture is a beautiful thing.
Posted by: HoboJerk, The State Loves You
The banks originally did not want to make subprime loans, and therefore did not do so.
They were forced (by the govt regs) and bullied (by race pimps) into making them. Only at that point did they demand guarantees -- at which point they went ahead and made the loans they didn't want to make, thinking there was no risk.
But they were pushed into it unwillingly at first. See comment #14.
Posted by: zombie at January 23, 2015 01:11 PM (K4YiS)
Posted by: zombie at January 23, 2015 01:06 PM (K4YiS)
I dunno. I've always heard that you can't rape the willing.
Posted by: Anderson Cooper's Smoked Sausages at January 23, 2015 01:12 PM (MbqmP)
Notwithstanding "right of association" and such: Publicly traded Banking Corporations: good idea or bad idea?
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:12 PM (kff5f)
I am one of those that really believes our banks are too big and need to be broken up into the smallest possible pieces.
Posted by: Circa (Insert Year Here) at January 23, 2015 01:12 PM (659DL)
Posted by: Ricardo Kill at January 23, 2015 01:09 PM (AbFmZ)
# 6,#6, I don't think I know that one
Posted by: Velvet Ambition at January 23, 2015 01:12 PM (R8hU8)
Posted by: weft cut-loop, now in Dark Chunks! at January 23, 2015 01:12 PM (fADgx)
Posted by: Chris Dodd at January 23, 2015 01:12 PM (XzRw1)
Posted by: You betters in the media. at January 23, 2015 01:12 PM (OD2ni)
They were forced (by the govt regs) and bullied (by race pimps) into making them. Only at that point did they demand guarantees -- at which point they went ahead and made the loans they didn't want to make, thinking there was no risk.
But they were pushed into it unwillingly at first. See comment #14.
What you said...
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:12 PM (Bn6aD)
One of my own brothers is a BoA executive.
He got a great big fat raise courtesy of the Feds (meaning you and me)
I keep asking the ungrateful SOB when he's going to thank me.
Posted by: Citizen X at January 23, 2015 01:12 PM (7ObY1)
Posted by: Turd Ferguson at January 23, 2015 01:12 PM (VAsIq)
Nothing will come of this revelation. Why does this not surprise me?
Posted by: CrotchetyOldJarhead at January 23, 2015 01:13 PM (60Vyp)
Sounds like a classic #6
dance.
Posted by: rickb223 at January 23, 2015 01:13 PM (zESFM)
Posted by: Jane D'oh at January 23, 2015 01:13 PM (FsuaD)
Posted by: East Bay Jay at January 23, 2015 01:13 PM (7v8o1)
This was known by anyone paying attention.
Doubly so for the financial crisis, which for some inexplicable reason the GOP seemed to take full ownership for.
I guess stupid parties gotta stupid.
Posted by: Kreplach at January 23, 2015 01:13 PM (BaTpq)
The banks who had political influence, came out fine.
In fact, the Treasury dept. actively helped them consolidate, using Taxpayer money. (Money which was granted by Congress in a great bait and switch routine, where they sold it to us as money to buy up toxic assets, but then gave that money to banks, to buy up other banks).
We also know that the Federal Reserve used quantitative easing to buy up assets from banks... some toxic, some real, from money they just created out of thin air (about 4 Trillion worth over the years)... but were selective in who they bought from.
As the list of stockholders of the Fed Res Bank is secret... but IS purported to be mainly banks... it is unknown if who owned Stock in the Fed had any relation to who they bailed out...
Posted by: BB Wolf at January 23, 2015 01:13 PM (qh617)
Posted by: yankeefifth at January 23, 2015 01:13 PM (VkSuo)
I remember the Dems lying asses though it all. I also remember they Won, their lies, they won
hey remember Obama assisiting in the harrassment of BOA causing this exact consequence and media silence ..
if it wasn't real i'd believe it was just a really bad dream that was B.S tinfoil hat stuff.
but noppe, they got away with it and Bush!
Posted by: willow at January 23, 2015 01:13 PM (nqBYe)
"There is no such thing as pure anything, I know.
But when we get to talking Adam Smith, and there are libertarians
around, well it's all theory anyway, right?
Posted by: JohnnyBoy"
Still waiting for you there
JohnnyBoy to tell me all about how competing with Indians who are
driving your salary down by double digits is all fair and shit.
Take your time.
Posted by: Mrs. Ida Lowry at January 23, 2015 01:13 PM (6G698)
Posted by: Not really at January 23, 2015 01:14 PM (WNERA)
and off topic but not entirely unrelated, Wash Times via weaselzippers:
Discussing a children's book about discrimination, President Obama told a group of preschoolers Thursday that his job would be a lot easier if some Americans didn't feel superior to others.
[do tell, Mr know-It-All]
Posted by: mallfly at January 23, 2015 01:14 PM (bJm7W)
I'll be reading this one too, but as others have said its perfectly suspected. Glad to have written evidence tho.
Posted by: Guy Mohawk at January 23, 2015 01:14 PM (Qs8ZN)
Posted by: Franklin Raines at January 23, 2015 01:14 PM (XzRw1)
I see no possible way this can go wrong.
Posted by: alexthechick - Commence drinking now. at January 23, 2015 01:14 PM (mf5HN)
Yes, BUT...
They then proceeded to bundle what they knew to be risky investments into giant wads of exotic debt instruments. This they did of their own free will. I have no sympathy for the financial genius sector of the economy.
Posted by: Circa (Insert Year Here) at January 23, 2015 01:14 PM (659DL)
Posted by: Inspector Renault at January 23, 2015 01:14 PM (HBAcW)
And then the SoBs in the government had the balls to sue BoA. What I don't understand is why BoA didn't hire 10,000 Philadelphia lawyers and sue the shit out of the goverment.
Posted by: Vic at January 23, 2015 01:14 PM (wlDny)
Posted by: Harry Reid, exploring his options at January 23, 2015 01:14 PM (VAsIq)
Yeah, shocking right?
Posted by: DocJ at January 23, 2015 01:14 PM (zrsn3)
Posted by: Yip at January 23, 2015 01:15 PM (84SRe)
Posted by: J.J. Sefton at January 23, 2015 01:15 PM (CMkNk)
It's coming back.
Mel Watt is a Black Racist Communist. I have never met a man more racist and socialist. He is running the Federal Housing Finance Agency, that includes the old Freddy mac and Fanny. How do you think this is going to work out?
But, he's real smart just axe him, in went to Yale Law.
Posted by: Nip Sip at January 23, 2015 01:15 PM (0FSuD)
Posted by: CrotchetyOldJarhead at January 23, 2015 01:13 PM (60Vyp)
The author will sell a shit load of books, that is all
Posted by: Velvet Ambition at January 23, 2015 01:15 PM (R8hU8)
Posted by: Tom Brady at January 23, 2015 01:15 PM (jfUIE)
And then the SoBs in the government had the balls to sue BoA. What I don't understand is why BoA didn't hire 10,000 Philadelphia lawyers and sue the shit out of the goverment.
Posted by: Vic at January 23, 2015 01:14 PM
Yup...
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:15 PM (Bn6aD)
Posted by: Turd Ferguson at January 23, 2015 01:12 PM
Have we got a deal for you!
Posted by: The Keating Five Reunion Tour at January 23, 2015 01:15 PM (knoK7)
Posted by: DaveA at January 23, 2015 01:15 PM (DL2i+)
Some banks loved it, others didn't, because the govt once again picked winners and losers and basically let some banks steal the assets of others.
Posted by: Guy Mohawk at January 23, 2015 01:15 PM (Qs8ZN)
Posted by: Michael J. Bilek at January 23, 2015 01:16 PM (vX/PL)
Posted by: Vic at January 23, 2015 01:14 PM (wlDny)
Well, because regulations. Yeah that and staying in business.
Posted by: Bob from table9 at January 23, 2015 01:16 PM (WNERA)
Posted by: Seems Legit at January 23, 2015 01:16 PM (A98Xu)
#WASTF
Posted by: BackwardsBoy, who did not vote for this sh1t at January 23, 2015 01:16 PM (0HooB)
Similarly, no one that matters believes the economic data released by government agencies anymore.
Posted by: yankeefifth at January 23, 2015 01:16 PM (VkSuo)
Posted by: avi at January 23, 2015 01:16 PM (viqX2)
The Feds are like the proverbial kids who kill their parents and then cry in court to be treated fairly because they're orphans.
Posted by: J.J. Sefton at January 23, 2015 01:16 PM (CMkNk)
Companies don't pay fines, their customers pay higher prices.
Posted by: DaveA at January 23, 2015 01:16 PM (DL2i+)
Feinsteins Husband Comissionedhed a Billion $ucks from US Postal Property deal...
Now Lance Pribus can go get my shine box.
Posted by: Uper in Blue at January 23, 2015 01:16 PM (/WmRg)
risky investments into giant wads of exotic debt instruments. This they
did of their own free will. I have no sympathy for the financial
genius sector of the economy.
Posted by: Circa (Insert Year Here) at January 23, 2015 01:14 PM (659DL)
That was the brainchild of that crooked Democrat woman who had her hand in every government scheme there was at the time. It wasn't the banks who wanted that shit. Everything the banks did was forced on them by the government. And if you think they were happy about it ask the ones who did go bankrupt.
Posted by: Vic at January 23, 2015 01:16 PM (wlDny)
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:16 PM (Bn6aD)
Posted by: Guy Mohawk at January 23, 2015 01:15 PM (Qs8ZN)
See Washington Mutual
Posted by: Velvet Ambition at January 23, 2015 01:16 PM (R8hU8)
Posted by: Lizzy at January 23, 2015 01:16 PM (ABcz/)
#nostanding
Posted by: rickb223 at January 23, 2015 01:17 PM (zESFM)
Posted by: Hurricane LaFawnduh at January 23, 2015 01:17 PM (HBAcW)
*clears throat*
It was absolutely and unequivocally the government's fault.
People got in a hubbub about mortgage backed securities and other derivatives being newfangled dangerous instruments. They were nothing of the sort.
Ex-Mrs. Bandersnatch worked on the trading desk at Solomon Brothers where MBS were invented by Lew Ranieri. They had a whole bunch of rocket scientists doing the math. Quants were gods there. (See also: Liar's Poker).
They had really fantastic analytic tools. They did 3D modeling that looked like mountain ranges showing what would happen to each tranche in the event that interest rates or pre-payment rates would change. The tranches were different risk pools so that the inherent risk of lending money to one person to buy one house could be aggregated and parsed out to investors of varying risk preferences.
It was all based on years of really good data. Then in the 90s and the aughts housing prices kept going up. Owning a home generated free money. The liberals thought that lower income renters should have a shot at that free money.
So they leaned on Fannie and Freddie to guarantee loans to people who really shouldn't get loans.
All the good data the MBS market depended on didn't include lending money to people who won't pay it back. Then the house of cards fell apart, the bubble burst. Hilarity ensued.
Posted by: Bandersnatch at January 23, 2015 01:17 PM (JtwS4)
Posted by: Dave at Garfield Ridge at January 23, 2015 01:17 PM (od1KN)
Posted by: mallfly at January 23, 2015 01:17 PM (bJm7W)
Posted by: Vic at January 23, 2015 01:14 PM (wlDny)
Well, because regulations. Yeah that and staying in business.
Posted by: Bob from table9 at January 23, 2015 01:16 PM (WNERA)
uh yeah, that is how the mob works. it was not a big enough suit to hurt them but enough to give them a warning, similar to a mob beat down in an alley if you do not pony up your protection money.
Posted by: yankeefifth at January 23, 2015 01:18 PM (VkSuo)
Posted by: toby928(C) at January 23, 2015 01:18 PM (rwI+c)
Posted by: AlFromBayShore at January 23, 2015 01:18 PM (lKamG)
Posted by: artisanal 'ette at January 23, 2015 01:18 PM (IXrOn)
Posted by: Circa (Insert Year Here)
Own free will = do the right thing and be fined and castigated. Or, join in on the gravy train, go along, get along. It's not a "risky Instrument' if you aren't bearing any risk and it's legal.
Obamacare= gutting the notion of "insurance". Don't worry, right this crap, and we'll cover you in the background. And you get a captive market. And, you have to.
Posted by: Blue Hen at January 23, 2015 01:19 PM (Spluw)
What killed BoA was they got in bed with the government who then forced
them to buy those banks in CA that were failing. And those failing banks
drug BoA down with them.
Vic, It wasn't banks, it was Country Wide Mortgage. Then First Union did the same damn thing and bought Golden West Mortgage.
Posted by: Nip Sip at January 23, 2015 01:19 PM (0FSuD)
Nothing ever surprises me anymore. NOTHING.
Posted by: Misanthropic Humanitarian at January 23, 2015 01:19 PM (vPh3W)
Posted by: Super Creepy Rob Lowe at January 23, 2015 01:20 PM (oDCMR)
Posted by: DaveA at January 23, 2015 01:15 PM
IIRC. this whole thing was kicked of by a Fed. Res. Bank of Boston study that claimed to show racist lending practices. By the time anyone got around to looking hard at their data, the damage was done, and the only bank that had been shown to be redlining minorities was a local minority-owned bank. Almost as if they understood the credit risks in their own community or something. But let's have DC make all the decisions....
Posted by: RedMindBlueState at January 23, 2015 01:20 PM (knoK7)
Posted by: Bob from table9 at January 23, 2015 01:20 PM (WNERA)
there was a you tube video about this in 2008
Posted by: avi at January 23, 2015 01:16 PM (viqX2)
Fox did a 2 hour special on it where they basically hammered the government. But it only played twice, once in the evening and then the next Saturday in the afternoon. I doubt if much of the general public ever saw it.
Posted by: Vic at January 23, 2015 01:20 PM (wlDny)
yea, this really isn't new news
but good for it to come out again by someone inside
Posted by: artisanal 'ette at January 23, 2015 01:20 PM (IXrOn)
If only there was a way to limit the powers of the state to only those things that actually benefit society. Like a compact of sorts, a contract.
Like a law that the government has to follow, above and supreme to all laws made by the government upon the people.
Because that would be the fair way to do it; not just leaving these men to their own will, to do whatever they want, like kings or tsars or something.
Wouldn't that be cool.
Oh well.
Posted by: Mrs. Ida Lowry at January 23, 2015 01:20 PM (6G698)
Posted by: Vashta Nerada at January 23, 2015 01:21 PM (40li+)
And then the SoBs in the government had the balls to sue BoA. What I
don't understand is why BoA didn't hire 10,000 Philadelphia lawyers and
sue the shit out of the goverment.
No federal bank charter? No bank.
When you have them by the balls, their hearts and minds will follow.
Posted by: Nip Sip at January 23, 2015 01:21 PM (0FSuD)
Posted by: Turd Ferguson at January 23, 2015 01:21 PM (VAsIq)
The banks who had political influence, came out fine.
In fact, the Treasury dept. actively helped them consolidate, using Taxpayer money. ...etc
Posted by: BB Wolf (and to others accusing the banks...)
What you are all talking about is the AFTERMATH of the problem, in which the banks got the govt to bail them out. Which is true.
What I'm talking about is the problem itself, where it came from, in the beginning.
Think about it: Did banks loan money to unqualified borrowers in the 1950s? '60s? '70s? '80s? No no no no and no.
It was only when The Community Reinvestment Act began to be used as a bullying tool in the '90s and hugely accelerating in the mid 2000s that the problem became a problem, and the banks were forced by a combination of regulations and scare tactics into making loans that they of course knew were absurdly risky.
Sure, the banks sought a bailout at taxpayers' expense, but that the SECOND HALF of the story, and not really the important part. The key is: Why did they start making those loans in the first place, when they never did before?
Posted by: zombie at January 23, 2015 01:21 PM (K4YiS)
https://www.youtube.com/watch?v=1RZVw3no2A4
Posted by: avi at January 23, 2015 01:21 PM (viqX2)
Posted by: Bob from table9 at January 23, 2015 01:21 PM (WNERA)
"I think we can all agree that the cause of the real estate crisis was lack of regulation."
To liberals, that's how it is, and that's how it's got to be. Whitewash? Not in their minds; they're just taking a complicated story and telling it clearly and simply.
Posted by: JPS at January 23, 2015 01:21 PM (lTef7)
Vic, that "everything" you've got there? No. Hank Paulson and the rest of the Goldman Sachs crowd simply ran with the ball knowing that the bailout would come.
Posted by: Circa (Insert Year Here) at January 23, 2015 01:21 PM (659DL)
Posted by: Yip at January 23, 2015 01:22 PM (84SRe)
Posted by: sawhorse at January 23, 2015 01:22 PM (jm3+c)
Before the crash, the Feds were brow-beating my small bank into holding more home mortgages. After the crash, they gave the reason that their assets had too high a percentage of home mortgages, and thus were at risk of failing.
Posted by: Hurricane LaFawnduh at January 23, 2015 01:22 PM (HBAcW)
Savings and Loan(s) operated under a different set of rules than typical commercial banks, to allow them to offer locally sourced "home loans" and other instruments.
With the advent of government regulation and requirements, it made it harder and harder for the small (relative) corporate Savings and Loans to make a profit, so they started taking more risks, until most in the industry were becoming insolvent.
Commercial banks had a hayday in the 1990's, taking over the failed "thrifts" and other weak banks, and that was the era of the beginning of the huge "superbanks" that exist today.
The superbanks: Bank of America, JP Morgan Chase, Well Fargo, Citi Bank, all made a lot of money off of 'TARP', although as big time capitalists, they won't admit it.
smaller example. National City Bank (based in Cleveland) refused TARP money because they didn't need it. PNC Bank (Pittsburgh) took TARP money, even though they didn't need it, either.
PNC used their TARP money to buy Natonal City.
Corporatism. Hand maiden to Fascist Socialism. Coming real soon to a country close to home.
"You would think they would be thanking me" - Barack Obama.
Posted by: Bossy Conservative....in the bleak midwinter at January 23, 2015 01:22 PM (RFeQD)
I know a lot of people who worked for IndyMac Bank. Nothing that happens to Schumer will make up for what that egotistical ass did.
Posted by: junior at January 23, 2015 01:22 PM (UWFpX)
Oh, I left out that Ex-Mrs. Bandersnatch worked with mortgage backs in 1985.
That's the this is not a new thing part.
Posted by: Bandersnatch at January 23, 2015 01:22 PM (JtwS4)
Don't forget bwarney fwrank, she was deeply involved in all of this too.
Posted by: Bob from table9 at January 23, 2015 01:20 PM (WNERA)
Up to his ass in it!
Posted by: Nip Sip at January 23, 2015 01:22 PM (0FSuD)
Posted by: Bob from table9 at January 23, 2015 01:20 PM
Not deep enough...*sigh*
Posted by: Hot Bottom at January 23, 2015 01:22 PM (knoK7)
Posted by: Bandersnatch at January 23, 2015 01:17 PM (JtwS4)
The ultimate garbage in/garbage out.
I'm too energy efficient to look it up, but I recall vaguely that the prior formulas were based on standard lending practices and underwriting and a more traditional percentage of Federally back loans.
Then underlying realities of the marketplace changed. The formulas did not adjust the risk rate because there was now no risk. Hey, the Feds will pick it up so we can put a big old zero in the risk column.
Then reality stepped in and hilarity ensued.
Posted by: alexthechick - Commence drinking now. at January 23, 2015 01:22 PM (mf5HN)
When we're called conspiracy theorists from the tops of the highest and deepest bunkered buildings in NY, DC and LA, we know we are just truth tellers.
Posted by: artisanal 'ette at January 23, 2015 01:22 PM (IXrOn)
Posted by: LIV at January 23, 2015 01:23 PM (VAsIq)
Posted by: maddogg at January 23, 2015 01:23 PM (xWW96)
No just compensation, no buy-out, nothing. Just strong-armed out of business by the feds
Posted by: Hurricane LaFawnduh at January 23, 2015 01:23 PM (HBAcW)
Posted by: J.J. Sefton at January 23, 2015 01:24 PM (CMkNk)
Posted by: Nip Sip at January 23, 2015 01:19 PM (0FSuD)
I consider those "banks".
Posted by: Vic at January 23, 2015 01:24 PM (wlDny)
Posted by: mallfly at January 23, 2015 01:24 PM (bJm7W)
Sad but true: the company I was working for at the time new that Country Wide was going bankrupt before anyone except possibly the Country Wide employees.
We handled their Cobra benefit administration, and the clue was when their Cobra eligibility files were suddenly 300% bigger than they had been...
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:24 PM (kff5f)
Posted by: sawhorse at January 23, 2015 01:22 PM (jm3+c)
Yes Yes and Yes. BofA was fined for reasons earlier stated, and part of the money goes directly to leftist causes. I don't know how much more we can take.
Posted by: Bob from table9 at January 23, 2015 01:24 PM (WNERA)
Posted by: John Boehner at January 23, 2015 01:24 PM (XVNm3)
They then proceeded to bundle what they knew to be risky investments into giant wads of exotic debt instruments. This they did of their own free will. I have no sympathy for the financial genius sector of the economy.
Posted by: Circa (Insert Year Here)
Again, that's the aftermath of the crisis, not the origins of the crisis. Even if they hadn't bundled the loans, there would have been a huge crisis.
If the banks hadn't unloaded the loans on unsuspecting investors, then the banks themselves would have been stuck with the loans, and would have all gone bankrupt and caused a major financial collapse. The loan-bundled just moved the victim-pool around, but wasn't the cause of the crisis.
Posted by: zombie at January 23, 2015 01:25 PM (K4YiS)
But if course the minority party should be blamed
Posted by: Righter at January 23, 2015 01:25 PM (Oqufv)
Posted by: Nip Sip at January 23, 2015 01:15 PM (0FSuD)
You mean the law school famous for no grades.
Also, it's a law school. It ain't rocket surgery.
Posted by: AmishDude at January 23, 2015 01:26 PM (L2xDv)
Posted by: Bank of USSA at January 23, 2015 01:26 PM (VAsIq)
Now watch this drive...Fore!
Posted by: Barry at January 23, 2015 01:26 PM (HBAcW)
Then reality stepped in and hilarity ensued.
Posted by: alexthechick - Commence drinking now. at January 23, 2015 01:22 PM (mf5HN)
well, the risk changed but the formulas were not allowed to change. the math was not especially hard. also, fed did not really assume all the risk, otherwise we would have lehman and bear stearns.
Posted by: yankeefifth at January 23, 2015 01:26 PM (VkSuo)
Janet Reno threatening banks with litigation for refusing to loan money to 'underserved' demographics.
The Horde went through this all through the end of '08 into the beginning of '09.
Much of the research links no longer work. If someone didn't collect the evidence back when you could still link to it online, it's gone down the memory hole.
If this book documents what happened back then, it would be worthwhile as a reference. Unfortunately, facts don't matter to the left.
Posted by: Goo Gong Hong at January 23, 2015 01:26 PM (HHd1A)
They were all burned by shitty mortgage paper. Mortgage packages for residential properties are in many ways a joke. When they had to process a crap ton of foreclosures, the paper was challenged, by people with nothing to lose, and much to gain. Crap was wrong from the beginning, signatures were being manufactured; it was ugly. And did they prove that any rightful, paying owners were deprived of their property? No.
All of those losses were on top of the losses they took from having to take over abandoned porperties, many of which were trashed, and in a terrible market.
Posted by: Blue Hen at January 23, 2015 01:26 PM (Spluw)
Posted by: Turd Ferguson at January 23, 2015 01:12 PM
so does Hollywood
Posted by: artisanal 'ette at January 23, 2015 01:27 PM (IXrOn)
The CRA - Jimmah Cahtah.
CRA, teh emboldening - BJ Cliton.
It's almost like there was a good reason for not issuing mortgages to people who couldn't pay them back.
Posted by: BackwardsBoy, who did not vote for this sh1t at January 23, 2015 01:27 PM (0HooB)
Yeah, just like the Democrats *create* racial tensions so's they can later *fix* the racial crisis.
The Left thrives in chaos. So it only makes sense they'd be the ones to create or precipitate chaos in the first place.
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:27 PM (weCf+)
worthwhile as a reference. Unfortunately, facts don't matter to the
left.
Case in point, @127.
Posted by: DocJ at January 23, 2015 01:27 PM (zrsn3)
Posted by: zombie
Because the Feds created a market for MBS. Without the backing of Freddie and Fannie the MBS market would have been a fraction of what it became.
However, such wonderful outcomes like double and triple pledged securities did not come about because of threats from housing bureaucrats.
The banks were every bit as complicit as the Feds. They saw $$$ and ran with it knowing the taxpayers would have to take whatever hit would come.
The CRA is a minor part of the story.
Posted by: weft cut-loop, now in Dark Chunks! at January 23, 2015 01:27 PM (fADgx)
Posted by: Hurricane LaFawnduh at January 23, 2015 01:27 PM (HBAcW)
Posted by: artisanal 'ette at January 23, 2015 01:27 PM (IXrOn)
That's racist.
Posted by: Democrats at January 23, 2015 01:28 PM (kff5f)
Posted by: Ricardo Kill at January 23, 2015 01:28 PM (AbFmZ)
Also: commission of foxes concludes no lapses in henhouse security.
Film at eleven.
Posted by: torquewrench at January 23, 2015 01:28 PM (noWW6)
The pain was world wide.
Posted by: Bob from table9 at January 23, 2015 01:28 PM (WNERA)
Posted by: Shoot Me at January 23, 2015 01:28 PM (EQcfE)
Because gmail remembers everything, I can quote what my ex-wife told me in January of '08, before the crash:
"Last night I was talking to my ex-wife about her job. She has done structured finance transactions, CDOs and the like which are the primary transmission vehicle for problems with home lending to world financial markets, for 20 years. (I have an MBA in finance, but she hasso much more a sophisticated and practical view of markets than I that I have to slow her down and get her to rephrase things). I tend to be sanguine about financial crises because fundamentals is fundamentals, markets work, and one man's personal bath is another's buying opportunity. She, however, describes what's going on as a "12 sigma event" -- something so outside the norms of traditional risk allocation that the system is failing.
Financial markets are not the same as economies, but they are connected. The world financial markets are hard-wired to eachother and react in real time. But when liquidity dries up for financial vehicles it eventually dries up for the financing of tangible things -- factories, inventory, job-creating things -- and liquidity is drying up."
Posted by: Bandersnatch at January 23, 2015 01:28 PM (JtwS4)
Of course the value of his home began to plummet soon after he got the loan. He was able to sell it not long after moving in and only lost $120K on the deal (which he borrowed from his father in law to bring to closing). As you might expect, he is still really angry with the government and the banks. Conditions were created and whatnot. Lot of innocent victims out there, just ask them.
Posted by: Gristle Encased Head at January 23, 2015 01:28 PM (+lsX1)
They then proceeded to bundle what they knew to be risky investments into giant wads of exotic debt instruments. This they did of their own free will. I have no sympathy for the financial genius sector of the economy.
Posted by: Circa (Insert Year Here)
all those exotic financial instruments are good ideas, the problem is when the government intervenes and insists they be distorted in an effort to achieve a political goal.
Posted by: yankeefifth at January 23, 2015 01:28 PM (VkSuo)
Posted by: Ricardo Kill at January 23, 2015 01:28 PM (AbFmZ)
That's racist.
Posted by: Democrats at January 23, 2015 01:29 PM (kff5f)
Why do you think the Left loves hurricanes and school shootings?
Because these events cause chaos and pain without the Democrats doing any heavy lifting or leaving fingerprints at the scene of the crime.
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:29 PM (weCf+)
Posted by: flmomof4 at January 23, 2015 01:29 PM (nSjrf)
Posted by: toby928(C) at January 23, 2015 01:29 PM (rwI+c)
That is all (or most)
Posted by: J.J. Sefton at January 23, 2015 01:24 PM (CMkNk)
That was the woman I was thinking about. Couldn't remember her name.
Posted by: Vic at January 23, 2015 01:30 PM (wlDny)
Posted by: Dr Spank at January 23, 2015 01:30 PM (XVNm3)
Government: "We have no idea how the housing market got collapsed!"
Conclusion: Brady has a bright shiny future in politics.
Posted by: filbert at January 23, 2015 01:30 PM (h6Mpm)
*clears throat*
It was absolutely and unequivocally the government's fault.
People got in a hubbub about mortgage backed securities and other derivatives being newfangled dangerous instruments. They were nothing of the sort.
Ex-Mrs. Bandersnatch worked on the trading desk at Solomon Brothers where MBS were invented by Lew Ranieri. They had a whole bunch of rocket scientists doing the math. Quants were gods there. (See also: Liar's Poker).
They had really fantastic analytic tools. They did 3D modeling that looked like mountain ranges showing what would happen to each tranche in the event that interest rates or pre-payment rates would change. The tranches were different risk pools so that the inherent risk of lending money to one person to buy one house could be aggregated and parsed out to investors of varying risk preferences.
It was all based on years of really good data. Then in the 90s and the aughts housing prices kept going up. Owning a home generated free money. The liberals thought that lower income renters should have a shot at that free money.
So they leaned on Fannie and Freddie to guarantee loans to people who really shouldn't get loans.
All the good data the MBS market depended on didn't include lending money to people who won't pay it back. Then the house of cards fell apart, the bubble burst. Hilarity ensued.
Posted by: Bandersnatch
Amen!
Posted by: zombie at January 23, 2015 01:30 PM (K4YiS)
btw, the next thing you'll tell me is that the Democrats did everything possible to make the Iraq invasion go awry...
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:30 PM (weCf+)
Posted by: Garrett at January 23, 2015 01:30 PM (PyRKS)
---------
Ha! We're the reality-based community! We believe in Science, who will one day descend on the person of Neil d'gassy Tyson and murder you anti-science Right-wing Lunaticks! Raycissss!
Posted by: The Lefty Left at January 23, 2015 01:30 PM (VAsIq)
It's just a good, overall problem solver.
Posted by: jwest at January 23, 2015 01:31 PM (vwlGK)
Posted by: Ricardo Kill at January 23, 2015 01:31 PM (AbFmZ)
Posted by: Shoot Me at January 23, 2015 01:28 PM (EQcfE)
That's racist.
Posted by: Democrats at January 23, 2015 01:31 PM (kff5f)
Posted by: Righter
The dear leader had a lock on both the House and the Senate but anything they didn't pass was the fault of the rethugs.
piss off.
Posted by: Blue Hen at January 23, 2015 01:31 PM (Spluw)
They totally were Able to turn the horrid financial damage They precipitated and the truth of What they did into a Win for them.
it's rather astounding.
the lousy disgusting lying bastards
Posted by: willow at January 23, 2015 01:31 PM (nqBYe)
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:30 PM (weCf+)
That's racist.
Posted by: Democrats at January 23, 2015 01:32 PM (kff5f)
Posted by: Dr Spank at January 23, 2015 01:30 PM (XVNm3)
Oh no.
Posted by: grammie winger, watching the fig tree at January 23, 2015 01:32 PM (dFi94)
Isis is on the run , I mean Al Qaeda ... No way are they related
Thank you, Your emperor Obama...
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:32 PM (Bn6aD)
Posted by: Barack Hussein Obama at January 23, 2015 01:32 PM (PyRKS)
Posted by: Lizzy at January 23, 2015 01:32 PM (ABcz/)
Posted by: maddogg at January 23, 2015 01:33 PM (xWW96)
Science, who will one day descend on the person of Neil d'gassy Tyson
and murder you anti-science Right-wing Lunaticks! Raycissss!
Posted by: The Lefty Left at January 23, 2015 01:30 PM
Screw science. I believe in math. Numbers always ALWAYS tell the truth unless scientists are manipulating them.
Posted by: huerfano at January 23, 2015 01:33 PM (bAGA/)
precipitated and the truth of What they did into a Win for them.
Not to put too fine a point on it, but that's actually pretty easy when 1) nobody is paying attention (LIV) and 2) the entire Media/Government/Academy complex carries your water for you.
Posted by: DocJ at January 23, 2015 01:33 PM (zrsn3)
Thom Perez kept scuttling all cases by settling (see Minnesota)
They've been going around nation threatening lawsuits and fines if for example Westchester which they deemed 'too white' didn't setup more low income housing etc etc (using census)
Texas fought back
If TX wins we can expect normalcy and an actual increase in low income housing as developers loosen purse strings
If TX loses, lawsuits from sea to shining sea and ironically low income housing development will slow/stop due to uncertainty over litigation costs
Good article over at Housing Wire on this
Posted by: ginaswo at January 23, 2015 01:33 PM (2EgyQ)
Posted by: phreshone at January 23, 2015 01:33 PM (LoIJo)
Posted by: Anderson Cooper's Smoked Sausages at January 23, 2015 01:33 PM (MbqmP)
That would be Superior Bank, out of Chicago, controlled by the Pritzker family, who have been thick as thieves (because they are) with Obama for a long, long time.
Posted by: torquewrench at January 23, 2015 01:34 PM (noWW6)
re: Jap. hostages
What did you think would happen after President Vas Deferens bragged in front of cameras the other day that he killed thousands of ISIS?
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:34 PM (weCf+)
Posted by: Dr Spank at January 23, 2015 01:30 PM (XVNm3)
...
Posted by: artisanal 'ette at January 23, 2015 01:34 PM (IXrOn)
Posted by: DaveA at January 23, 2015 01:35 PM (DL2i+)
Posted by: Vic at January 23, 2015 01:30 PM (wlDny)
Between her (and Janet Reno) leaning on the banks and essentially crippling the CIA and FBI, she has caused more damage, destruction and mass death than probably any other governmental miscreant in our history.
Totally evil cunt.
Posted by: J.J. Sefton at January 23, 2015 01:35 PM (CMkNk)
Posted by: huerfano at January 23, 2015 01:33 PM (bAGA/)
That's racist.
Posted by: Democrats at January 23, 2015 01:35 PM (kff5f)
So....local news story? How quickly will the MSM move on now that is getting kind of routine.
And yeah, wasn't one of them (another) journalist?
Wonder when these "Je suis Charlie!" situationally brave journalists will recognize the slaughter of their own.....
Posted by: Lizzy at January 23, 2015 01:35 PM (ABcz/)
re: Jap. hostages
What did you think would happen after President Vas Deferens bragged in front of cameras the other day that he killed thousands of ISIS?
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:34 PM (weCf+)
PFFT. President Tubal Ligation.
Posted by: J.J. Sefton at January 23, 2015 01:35 PM (CMkNk)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:35 PM (kff5f)
Posted by: Franklin Raines at January 23, 2015 01:36 PM (XzRw1)
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:36 PM (Bn6aD)
Posted by: phreshone at January 23, 2015 01:33 PM (LoIJo)
meh, they paid a fairly heavy price for their involvement in the mess, they would not have converted into a bank holding company.
Posted by: yankeefifth at January 23, 2015 01:36 PM (VkSuo)
Gateway Pundit.
Posted by: rickb223 at January 23, 2015 01:36 PM (zESFM)
----
Why was 6 afraid of 7?
Posted by: Turd Ferguson at January 23, 2015 01:36 PM (VAsIq)
The Great Recession was caused by Reagan's repeal of the Glass-Steagall act.
No matter how big of a lie it is, there's no way to unring that bell.
Posted by: Ed Anger at January 23, 2015 01:36 PM (RcpcZ)
Then Franklin Raines at FAN FRED pushed subprime purchases skyhigh
And Dubyah CONTINUED the problem
In every speech he lauded 'record high honeownership rates'
The pols love to do that
Posted by: ginaswo at January 23, 2015 01:36 PM (2EgyQ)
Posted by: J.J. Sefton at January 23, 2015 01:37 PM (CMkNk)
Because 7 was bigger, and kept taking 6's lunch money.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:37 PM (kff5f)
the election itself was twilight zonish.
messiah oh save us .
oustanding as a tin foil hat movie as a reality it sucked bad.
and cost my family the future.
fk them . fk them .
Posted by: willow at January 23, 2015 01:37 PM (nqBYe)
Posted by: Thin veneer of civility at January 23, 2015 01:37 PM (XzRw1)
damage They precipitated and the truth of What they did into a Win for
them.
it's rather astounding.
the lousy disgusting lying bastards
Posted by: willow at January 23, 2015 01:31 PM (nqBYe)
It helps when you have the MFM in your back pocket.
Posted by: Vic at January 23, 2015 01:37 PM (wlDny)
You go back, Jack, do it again
Posted by: ginaswo at January 23, 2015 01:37 PM (2EgyQ)
Posted by: Vic at January 23, 2015 01:24 PM (wlDny)
The feds don't. That's why they expanded so quickly no regulations to speak of, First Union had a choice to get into CA since BA was already there, they needed CA branches.
Buy Wells Fargo or Buy Golden West. Golden West was a dollar a share cheaper.
How did that work out?
Posted by: Nip Sip at January 23, 2015 01:37 PM (0FSuD)
Posted by: rickb223 at January 23, 2015 01:37 PM (zESFM)
Posted by: RWC - Showerin'? Ain't nobody got no time for dat! at January 23, 2015 01:38 PM (fWAjv)
Posted by: Lizzy at January 23, 2015 01:38 PM (ABcz/)
It evidently requires no thought or analysis of any kind, no positive results and no recognition of any sort of reality. The only thing you need is some feelings and you're good to go.
Oh, and the cue cards to tell you when to breathe.
Posted by: BackwardsBoy, who did not vote for this sh1t at January 23, 2015 01:38 PM (0HooB)
Well, of course he did. See also: Politician.
However, he *also* tried to address the problem before it blew up (at least once or twice), when it might have been much more manageable.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:38 PM (kff5f)
I swear, the Federal Government is the world's biggest crime family.
It'll take one big-ass RICO statute to take it down.
Posted by: J.J. Sefton at January 23, 2015 01:38 PM (CMkNk)
Posted by: Turd Ferguson at January 23, 2015 01:36 PM
Because 7 ate 9. The bastard!
Posted by: RedMindBlueState at January 23, 2015 01:38 PM (knoK7)
Posted by: ThunderB, Professional Ball Deflator at January 23, 2015 01:38 PM (zOTsN)
Posted by: maddogg at January 23, 2015 01:39 PM (xWW96)
Posted by: artisanal 'ette at January 23, 2015 01:39 PM (IXrOn)
But if course the minority party should be blamed
Posted by: Righter"
What?
Did you see someone here trying to stand up for the GOP as the supreme force of good and defenders of individual liberties?
Just curious.
Posted by: Mrs. Ida Lowry at January 23, 2015 01:39 PM (6G698)
Posted by: willow at January 23, 2015 01:39 PM (nqBYe)
My first thought: I wonder what gag-inducing political comics we'll get now. Ooh, the severed heads will rise up and blast the terrorists just like my animes!
Posted by: Shoot Me at January 23, 2015 01:39 PM (EQcfE)
Man with a tan did sooooo much damage
But GOP critters got VIP loans too which is way they said and did nothing to get mozillo
Countrywide loans REALLY fxcked BankAmerica
Posted by: ginaswo at January 23, 2015 01:39 PM (2EgyQ)
Nope, just say "That's racist" and you're good.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:39 PM (kff5f)
Although loans were being made to marginal people, even at the very bottom of the credit market the actual default rate was very low and easily handled within the system.
The main problem was the "mark to market" provisions that helped as the value of real estate rose, but made regulators panic when values dipped. Even though loans were performing on time, they were being declared bad due to the out-of-balance ratios of house value to loan amount.
This was a totally manufactured crisis.
Posted by: jwest at January 23, 2015 01:40 PM (vwlGK)
ISIS actually had a countdown til the hostages deaths?
Posted by: artisanal 'ette at January 23, 2015 01:39 PM (IXrOn)
Wolf Blitzer likes that "countdown" shit.
Posted by: J.J. Sefton at January 23, 2015 01:40 PM (CMkNk)
ISIS actually had a countdown til the hostages deaths?
Posted by: artisanal 'ette at January 23, 2015 01:39 PM (IXrOn)
Wolf Blitzer likes that "countdown" shit.
Posted by: J.J. Sefton at January 23, 2015 01:40 PM (CMkNk)
UN-POSSIBLE!
Posted by: FDR's Television at January 23, 2015 01:40 PM (ne2fm)
Posted by: JEF at January 23, 2015 01:40 PM (XzRw1)
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:40 PM (weCf+)
Posted by: yankeefifth at January 23, 2015 01:40 PM (VkSuo)
oops, forgot the #
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:40 PM (weCf+)
Sorry there, Mrs. Lowry, I was away. I don't think I used the word "fair". Fair doesn't mean anything. I've always worked for corporations. The ones that didn't make money don't employ *anyone* anymore. I wish I did not have to compete with smart people that have low wage expectations.
The internet has also caused a lot of foreign competition for me. Anyone anywhere can get the answer to any software question. I'm old. It used to be, you needed experience!
Posted by: JohnnyBoy at January 23, 2015 01:41 PM (TPjwz)
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:41 PM (Bn6aD)
FIFY.
We haven't had a Federal Government in living memory.
Which is important, because a true Federal Government wouldn't be able to get up to nearly as much mischief.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:41 PM (kff5f)
Posted by: Dr Spank at January 23, 2015 01:41 PM (XVNm3)
this calls for....
Je Suis Le Japanesas!
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:40 PM (weCf+)
Japonais.
Posted by: J.J. Sefton at January 23, 2015 01:41 PM (CMkNk)
Except taller.
Posted by: Dr Spank at January 23, 2015 01:41 PM (XVNm3)
By at least a head.
Sorry. Could not resist.
Posted by: J.J. Sefton at January 23, 2015 01:42 PM (CMkNk)
Posted by: yankeefifth at January 23, 2015 01:42 PM (VkSuo)
There were other things at work as well
AIG didn't write trillions in derivatives and assume counterparts risk under BigDawg
BigDawg opened the door and Dubyah did nothing to stop that epic bubble
Two party system
Big club we ain't in it
Posted by: ginaswo at January 23, 2015 01:42 PM (2EgyQ)
government(s) caused it by govt policy / policies, most particularly the barriers to trade created by all of the major economic powers as a fatal overreaction to the stock market crash.
Germany was especially weak and vulnerable because of French and other Allied govt punitive measures
'Big business' and stock brokers were assigned the blame, tho.
Posted by: John of Salisbury at January 23, 2015 01:42 PM (8CdUx)
Posted by: Gristle Encased Head at January 23, 2015 01:28 PM (+lsX1)
Sorry that all the Libtards held an illegal gun against his head.
Posted by: Misanthropic Humanitarian at January 23, 2015 01:42 PM (vPh3W)
obama nearly tripled the budget deficit, and now he's out there bragging that he cut the deficit in half because it's supposedly at the level it was during Bush's 7th year.
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:42 PM (weCf+)
Posted by: willow at January 23, 2015 01:42 PM (nqBYe)
Posted by: Thin veneer of civility at January 23, 2015 01:43 PM (XzRw1)
Posted by: John of Salisbury at January 23, 2015 01:42 PM (8CdUx)
Stock brokers = JOOZ
Posted by: J.J. Sefton at January 23, 2015 01:43 PM (CMkNk)
Thinning out the herd.
Posted by: Nip Sip at January 23, 2015 01:43 PM (0FSuD)
Posted by: The Vapors at January 23, 2015 01:44 PM (8CdUx)
Posted by: zombie at January 23, 2015 01:21 PM (K4YiS)
Question becomes... what caused that huge financial crises?
There was no sell off. The Toxic assets never WERE wound down.
Yes, the pieces were in place because of the crappy mortgages... but the only trigger I can see for the crises itself, was that the Government itself forced them to change accounting practices... so they had to account for the real value of the property, vice the 'list' value.
Then suddenly everyone was told it WAS a crises... and the economy tanked...
Then... magically... bank consolidation... and huge bank profits since then.
Posted by: BB Wolf at January 23, 2015 01:44 PM (qh617)
something so outside the norms of traditional risk allocation that the
system is failing.
When someone in finance talks about a "12 sigma event" or even a "20 sigma event" as in the recent move in the Swiss Franc, it's a clue that they have no idea what they're talking about. The behavior of financial instruments is not normally distributed, you can't calculate their standard deviation the same way you would things like human height or the temperature of the Pacific in the month of January. And even if you could, a "12 sigma event" would be so incredibly unlikely it's almost unimaginable. Banks have cratered themselves fairly regularly throughout human history.
Posted by: Gristle Encased Head at January 23, 2015 01:44 PM (+lsX1)
Posted by: willow at January 23, 2015 01:44 PM (nqBYe)
Except taller.
Posted by: Dr Spank
By at least a head.
Sorry. Could not resist.
Posted by: J.J. Sefton
*Golf. Clap.*
Posted by: rickb223 at January 23, 2015 01:44 PM (zESFM)
Posted by: maddogg at January 23, 2015 01:44 PM (xWW96)
If the one guy was going to join ISIS, and this was just them rejecting his application (as it were), then yeah- f*ck that guy.
The journalist though? I've still got some sympathy for him.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:44 PM (kff5f)
It was to 'foam the runway' (Geithner quote)!to extend and pretend to help TBTJail get through millions of homeloans foreclosures without them all happening at on e, further cratering prices
McCain housing plan was to LEFT of obama
Posted by: ginaswo at January 23, 2015 01:44 PM (2EgyQ)
Posted by: Dr Spank at January 23, 2015 01:44 PM (XVNm3)
Posted by: Garrett at January 23, 2015 01:45 PM (PyRKS)
Posted by: Thin veneer of civility at January 23, 2015 01:45 PM (XzRw1)
Posted by: SpongeBobSaget at January 23, 2015 01:45 PM (zauWW)
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:41 PM (Bn6aD)
yes
Posted by: artisanal 'ette at January 23, 2015 01:45 PM (IXrOn)
Y'all have fun and try not to trash the place, 'k?
Posted by: BackwardsBoy, who did not vote for this sh1t at January 23, 2015 01:45 PM (0HooB)
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:42 PM (weCf+)
makes you wonder if the nea is deliberately raising math illiterate citizens.
Posted by: yankeefifth at January 23, 2015 01:45 PM (VkSuo)
Jo slacker got a $300K loan that he knew he could not afford. He got it with no money down and no payments for a year, and then only had to pay interest.
When the first payment was due he defaulted. After two or three missed payments the banks foreclosed. But since the market was so good they could turn the house around in short order.
When the market went South and those failed loans could not be turned around the whole house of cards collapsed. That is the simple answer of what happened w/o getting down in the weeds.
Posted by: Vic at January 23, 2015 01:46 PM (wlDny)
I settled my mother's estate several years ago which included selling her modest home. It was purchased by a young couple with two kids, first time buyers. Due to the type of government backed loan they received, they came to the closing table owing ......$49.
That is not a typo. They purchased a $120,000 home and had negative equity in it at closing. The $49 was some kind of filing fee. They borrowed all the closing costs that I hadn't agreed to pay.
So if they needed to walk away from it in a year or two, so what.
Had I not been involved and have copies of their settlement costs along with mine, I wouldn't have believed it.
Posted by: Jen the original at January 23, 2015 01:46 PM (nX2TX)
this calls for....
Je Suis Le Japanesas!
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 01:40 PM (weCf+)
F that...
Je Suis Spartacus...
Posted by: BB Wolf at January 23, 2015 01:46 PM (qh617)
shudder.
bastidPosted by: willow at January 23, 2015 01:42 PM (nqBYe) Yes, Dear willow, I'm afraid it was.
Posted by: maddogg at January 23, 2015 01:46 PM (xWW96)
Posted by: Thin veneer of civility at January 23, 2015 01:43 PM
Given all the time he's spent on him lately, you'd think he wants to, fer cryin' out loud.
Posted by: RedMindBlueState at January 23, 2015 01:46 PM (knoK7)
Posted by: Yoots at January 23, 2015 01:46 PM (VAsIq)
When someone in finance talks about a "12 sigma event" or even a "20 sigma event" as in the recent move in the Swiss Franc, it's a clue that they have no idea what they're talking about.
Her 30 years in the CDO business and my MBA in finance beg to differ.
Also, she was right.
Posted by: Bandersnatch at January 23, 2015 01:47 PM (JtwS4)
Posted by: ginaswo at January 23, 2015 01:47 PM (2EgyQ)
Posted by: willow at January 23, 2015 01:47 PM (nqBYe)
Posted by: Carol at January 23, 2015 01:47 PM (sj3Ax)
Posted by: Y-not on the phone at January 23, 2015 01:47 PM (9BRsg)
It was to 'foam the runway' (Geithner quote)!to extend and pretend to help TBTJail get through millions of homeloans foreclosures without them all happening at on e, further cratering prices
McCain housing plan was to LEFT of obama
Posted by: ginaswo at January 23, 2015 01:44 PM (2EgyQ)
well it did not work but it did gum up the system enough to prevent the market from dumping all the overpriced homes back on the market and resetting the asset prices at a lower level.
Posted by: yankeefifth at January 23, 2015 01:48 PM (VkSuo)
Posted by: Thin veneer of civility at January 23, 2015 01:43 PM (XzRw1)
heh
just listened to Piano Man...
what a flashback
Posted by: artisanal 'ette at January 23, 2015 01:48 PM (IXrOn)
Posted by: J.J. Sefton at January 23, 2015 01:48 PM (CMkNk)
OT. Anybody having trouble with the fumble-ru-ski link in the sidebar. It's a conspiracy I tell ya.
Posted by: Golfman in NC at January 23, 2015 01:48 PM (wVWRM)
Posted by: Ed Anger at January 23, 2015 01:48 PM (RcpcZ)
LIV logic, They should throw this mom in jail.
http://tinyurl.com/o76uuzj
Posted by: Nip Sip at January 23, 2015 01:49 PM (0FSuD)
In Lucerne
With a ledger
Posted by: ginaswo at January 23, 2015 01:47 PM (2EgyQ)
while Freddie was doing Fannie
Posted by: artisanal 'ette at January 23, 2015 01:49 PM (IXrOn)
Who do you hate more, journalists or lawyers?
Who do your trust more, journalists or lawyers?
Ok, throw politicians into the pot, who do you trust more, politicians, lawyers, or journalists? and track the responses over time. Will there come a time when journalists are hated more than lawyers and politicians?
Posted by: Goo Gong Hong at January 23, 2015 01:49 PM (HHd1A)
Posted by: ThunderB, Professional Ball Deflator at January 23, 2015 01:49 PM (zOTsN)
used the word "fair". Fair doesn't mean anything. I've always worked
for corporations. The ones that didn't make money don't employ *anyone*
anymore. I wish I did not have to compete with smart people that have
low wage expectations.
The internet has also caused a lot of foreign competition for me.
Anyone anywhere can get the answer to any software question. I'm old.
It used to be, you needed experience!
Posted by: JohnnyBoy"
You said it's the way economics works. This is the problem, it's not economics, it's government corruption causing your salary to be unfairly reduced.
And you are right, a lot of this work can be done remotely, and at some level the world wide market cannot be done away with. But you also have to understand that there is corruption and standing back and saying 'oh whatever, it's economics' is wrong.
This is the point I was trying to make.
Posted by: Mrs. Ida Lowry at January 23, 2015 01:49 PM (6G698)
This crap paper was sold all over the world and it was painful for other
countries who perhaps should have done better diligence if investing
billions but non the less bought into the AA ratings.
The pain was world wide.
Posted by: Bob from table9 at January 23, 2015 01:28 PM (WNERA)"
My stepson was taking a class in risk assessment in a field utterly unrelated to finance. I read the introduction to his textbook which was written about ten years ago. The author was celebrating the fact that now with modern mathematical methods and computers risk could be measured and quantified scientifically and because of these advances European banks could participate in the US mortgage market.
I wonder if that author ever has second thoughts about that.
Posted by: Obnoxious A-Hole at January 23, 2015 01:49 PM (KDbAT)
Posted by: Vashta Nerada at January 23, 2015 01:50 PM (40li+)
Posted by: Ed Anger at January 23, 2015 01:48 PM (RcpcZ)
The ball thing is tedious and of zero import. But on all things leftist and SCOAMF, Rush is the bringer of it.
Posted by: J.J. Sefton at January 23, 2015 01:50 PM (CMkNk)
Drudge
http://tinyurl.com/kayurlp
Are those like Mitt's magic undergarments?
Posted by: Thin veneer of civility at January 23, 2015 01:50 PM (XzRw1)
I'd like to see the Jap Army circa 1944-45 go up against ISIS.
No fucking contest.
Posted by: J.J. Sefton at January 23, 2015 01:48 PM (CMkNk)
No offense to the brave men that serve now, but I don't think we could win that war today.
Posted by: Golfman in NC at January 23, 2015 01:50 PM (wVWRM)
http://tinyurl.com/ntop8st
You're welcome.
(safe for work)
Posted by: RWC - Showerin'? Ain't nobody got no time for dat! at January 23, 2015 01:50 PM (fWAjv)
Posted by: Super Creepy Rob Lowe at January 23, 2015 01:50 PM (oDCMR)
They need to get the bomb and rearm.
That would help the economy.
Posted by: Nip Sip at January 23, 2015 01:50 PM (0FSuD)
*headdesk*
You know, I think one failure of American History classes in High School is they don't talk enough about the diseases we more-or-less ended: what they were, what they'd do to you, how horrible even survival could be, etc.
So people don't realize how *bad* things like measles and polio can be, leaving them open to the anti-vaxer's "arguments."
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:50 PM (kff5f)
Posted by: Thin veneer of civility at January 23, 2015 01:43 PM
Given all the time he's spent on him lately, you'd think he wants to, fer cryin' out loud.
Posted by: RedMindBlueState at January 23, 2015 01:46 PM (knoK7)
Just like Ace has to detour from politics some times...
It's weirder when he starts going into detail about buying private jets, and the one he owns.
Posted by: artisanal 'ette at January 23, 2015 01:51 PM (IXrOn)
Small business are primarily financed with the equity in the owner's home. This is the engine of the country, and when you remove the ability to use that capital, a large portion of the economy collapses.
This is what happened.
Posted by: jwest at January 23, 2015 01:51 PM (vwlGK)
Posted by: willow at January 23, 2015 01:51 PM (nqBYe)
Posted by: Franklin Raines at January 23, 2015 01:51 PM (e8kgV)
Posted by: Carol at January 23, 2015 01:51 PM (sj3Ax)
No fucking contest.
Posted by: J.J. Sefton at January 23, 2015 01:48 PM (CMkNk)
yeah, and if isis thinks their tactics are intimidating, well they could learn a thing or two from the ija.
Posted by: yankeefifth at January 23, 2015 01:51 PM (VkSuo)
Posted by: maddogg at January 23, 2015 01:51 PM (xWW96)
Posted by: ThunderB, Professional Ball Deflator at January 23, 2015 01:51 PM (zOTsN)
You'd think an MBA would have some passing familiarity with statistics.
Posted by: Gristle Encased Head at January 23, 2015 01:52 PM (+lsX1)
Posted by: Yip at January 23, 2015 01:15 PM (84SRe)
______
Yes. I've been wondering the same thing for quite some time. There would be only one answer in my mind but what do I know?
Posted by: fly gal at January 23, 2015 01:52 PM (8TdcF)
But if course the minority party should be blamed
Posted by: Righter"
What?
Did you see someone here trying to stand up for the GOP as the supreme force of good and defenders of individual liberties?
Just curious.
Posted by: Mrs. Ida Lowry at January 23, 2015 01:39 PM (6G69
not a filibuster proof majority.
are you suggesting that Bush should have issued illegal executive orders to have fixed the problem?
Posted by: avi at January 23, 2015 01:52 PM (viqX2)
Posted by: artisanal 'ette at January 23, 2015 01:51 PM
True. True.
Posted by: RedMindBlueState at January 23, 2015 01:52 PM (knoK7)
Stupid professor. Everyone knows that you publish a new edition every year in order to punish the middle class parents that are paying their own kids way through school.
Posted by: Golfman in NC at January 23, 2015 01:52 PM (wVWRM)
By the way, Iran is evidently openly erecting ICBM launchers near Tehran.
Meh, probably dummy missiles just to taunt the Israelis.
Posted by: J.J. Sefton at January 23, 2015 01:52 PM (CMkNk)
Who do you hate more, journalists or lawyers?
Who do your trust more, journalists or lawyers?
Ok, throw politicians into the pot, who do you trust more, politicians, lawyers, or journalists? and track the responses over time. Will there come a time when journalists are hated more than lawyers and politicians?
Posted by: Goo Gong Hong at January 23, 2015 01:49 PM (HHd1A)
I dunno, would you prefer it in the mouth or the ass?
Posted by: Barry Soetoro-Robinson at January 23, 2015 01:52 PM (MbqmP)
Posted by: Goo Gong Hong at January 23, 2015 01:49 PM (HHd1A)"
For me that day has arrived. Politicians and lawyers could not do the evil that they do if they were not protected by journalists.
Posted by: Obnoxious A-Hole at January 23, 2015 01:52 PM (KDbAT)
Posted by: Yoots Francois of Unknown Ethnicity at January 23, 2015 01:53 PM (/Ho8c)
Guilty Admission: I like the song American Pie.
Slightly less guilty admission: Whenever I hear it, I always substitute the words for Weird Al's The Saga Begins.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:53 PM (kff5f)
Posted by: yankeefifth at January 23, 2015 01:51 PM (VkSuo)
Well, if the Marines and Army were ever given a green light to just do their things with no hindrances, there would be no ISIS.
Posted by: J.J. Sefton at January 23, 2015 01:53 PM (CMkNk)
LIV logic, They should throw this mom in jail.
-------------------
My sister's pretty pissed off at the anti-vacsers right now. She's been vaccinated for measles twice, and it didn't take either time. Apparently that's a rare but known thing. Then she made the mistake of going to Disneyland just the other day...
She didn't realize what it was until the doctors did a blood test. She's not in a good mood right now.
Though I suppose there is one bit of good news. She's now been "vaccinated" for measles.
Posted by: junior at January 23, 2015 01:53 PM (UWFpX)
Any 'ron or ette have the two girls fantasy?
*puts RWC on the maddogg don't trust links list*
You are not a nice person.
Posted by: Bandersnatch at January 23, 2015 01:53 PM (JtwS4)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:50 PM (kff5f)
It's like a child touching fire for the first time.
Most people haven't seen such diseases, so *almost* don't believe they exist, or could still exist.
Same for any threat.
It can't happen here.
It can't happen to me.
"Measles has been eliminated."
history
Posted by: artisanal 'ette at January 23, 2015 01:53 PM (IXrOn)
Something not well recognized is how tax "extenders" artificially and temporarily decreased the FY2014 budget deficit, and are going to exert an offsetting increase in the FY15 deficit.
It's over eighty billion bucks worth. Possibly more.
Posted by: torquewrench at January 23, 2015 01:53 PM (noWW6)
It's over eighty billion bucks worth. Possibly more.
Posted by: torquewrench at January 23, 2015 01:53 PM (noWW6
Hey, we will print more, QE 17 Baby
Posted by: Janet Yellin
Posted by: Misanthropic Humanitarian at January 23, 2015 01:55 PM (vPh3W)
Totally agree
They did everything possible to prevent the market from clearing
Can't let their buddies take a bath on their malinvestments
Better to tank global economy and leave us still totally fxcked trillions and trillions and 7 yrs down the road
Posted by: ginaswo at January 23, 2015 01:55 PM (2EgyQ)
Something not well recognized is how tax "extenders" artificially and temporarily decreased the FY2014 budget deficit, and are going to exert an offsetting increase in the FY15 deficit.
It's over eighty billion bucks worth. Possibly more.
The "folks" can't be bothered with this stuff....... Brady, Superbowl, deflated balls..!!!!!
Posted by: hello, it's Me Donna ....again at January 23, 2015 01:55 PM (Bn6aD)
Posted by: The Vapors at January 23, 2015 01:55 PM (8CdUx)
Posted by: pope at January 23, 2015 01:55 PM (XzRw1)
Bush and even McStains tried warning the country at least as far back as '06 about Fannie Freddie.
But the usual suspects shouted "Racist!" "Evil!" etc. and that was that. I distinctly recall hearings merely a few weeks before the crash when Barney Fagg and the usual suspects were claiming the soundness of F&F and blasting Bush for fear mongering and wanting to deny the poor their due.
Posted by: J.J. Sefton at January 23, 2015 01:56 PM (CMkNk)
Posted by: Bandersnatch at January 23, 2015 01:53 PM (JtwS4
And yours is pure and virtuous? LOL
Posted by: Misanthropic Humanitarian at January 23, 2015 01:56 PM (vPh3W)
Posted by: Bandersnatch at January 23, 2015 01:53 PM (JtwS4)
I tell them, and I tell them, and I tell them.
But do they listen? Noooooooo.
Posted by: Admiral Akbar at January 23, 2015 01:56 PM (kff5f)
I believe the courts would call that 'fighting words'.
Posted by: Goo Gong Hong at January 23, 2015 01:56 PM (HHd1A)
Posted by: Costanza Defense at January 23, 2015 01:56 PM (ZPrif)
bragging that he cut the deficit in half because it's supposedly at the
level it was during Bush's 7th year."
Something not well recognized is how tax "extenders" artificially
and temporarily decreased the FY2014 budget deficit, and are going to
exert an offsetting increase in the FY15 deficit.
It's over eighty billion bucks worth. Possibly more.
Something even fewer people seem to realize is that the debt for the US of A actually increased by materially over $1T in FY2014, not the $483B King Putt is crowing about.
Posted by: DocJ at January 23, 2015 01:57 PM (zrsn3)
Posted by: Bob from table9 at January 23, 2015 01:57 PM (WNERA)
Posted by: yankeefifth at January 23, 2015 01:51 PM (VkSuo)
Well, if the Marines and Army were ever given a green light to just do their things with no hindrances, there would be no ISIS.
Posted by: J.J. Sefton at January 23, 2015 01:53 PM (CMkNk)
oh agreed. my thougt was the ija's record of atrocities. a kobane death jog, to mosul in july would give isis a lesson in hardcore.
Posted by: yankeefifth at January 23, 2015 01:57 PM (VkSuo)
Posted by: Bob Dole at January 23, 2015 01:57 PM (XzRw1)
Why the F wouldn't you get your kid vaccinated for that?
Posted by: Lizzy at January 23, 2015 01:57 PM (ABcz/)
And yours is pure and virtuous? LOL
I am vain and venial, I'm shallow and full of lust, I'm lazy and easily distracted.
But I'm not mean. Doing that to someone who nurses a two girl fantasy was must mean.
Posted by: Bandersnatch at January 23, 2015 01:57 PM (JtwS4)
Here is the pattern.
Dem's do something/propose something. Conservatives say 'hey, that will cause X' or that caused Y. Media comes in and says conservatives are lying, here is data/commission/evidence. Data/Commission/Evidence later turns out to be fake. Reported on page 23 in small print.
Lather, rinse, repeat. And yet, some portion of the people know intuitively that some things don't work and they are the ones called stupid or paranoid.
Posted by: Lea hates Peppa Pig but will watch it for freedom (not really) at January 23, 2015 01:57 PM (lIU4e)
http://tinyurl.com/ntop8st
You're welcome.
(safe for work)
Posted by: RWC - Showerin'? Ain't nobody got no time for dat! at January 23, 2015 01:50 PM (fWAjv)
is that Maddow?
Posted by: artisanal 'ette at January 23, 2015 01:57 PM (IXrOn)
Posted by: ThunderB, Professional Ball Deflator at January 23, 2015 01:51 PM (zOTsN)
-------
Most lists of military spending show Japan spending less than half what China spends in $.
Japan has been spending about 1% of GDP on defense but have recently (in the last year or so) planned to increase spending (don't know if higher budgets have actually been put in place)
Posted by: RioBravo at January 23, 2015 01:58 PM (z27Ny)
------------------
One of those neat little things in the second Captain America movie was when he was listing the things he liked about the modern era, and he mentioned polio (meaning it's near elimination, of course).
Posted by: junior at January 23, 2015 01:58 PM (UWFpX)
Barney Frank kept lying said repeatedly that all was fine with
Fannie Freddie Mac. Bush wanted to investigate but I cannot
remember why they didn't.
Posted by: Carol at January 23, 2015 01:51 PM (sj3Ax)
Both Bush and McCain warned of the impending crisis but Bwaney Fwank and Piss Dodd blew them off. The Senate also was in complete control of the Democrats at that time so no "investigation" or action.
Posted by: Vic at January 23, 2015 01:58 PM (wlDny)
Posted by: royaloil at January 23, 2015 01:58 PM (5yHi1)
Though I suppose there is one bit of good news. She's now been "vaccinated" for measles.
Posted by: junior at January 23, 2015 01:53 PM (UWFpX)
The all-natural way.
Posted by: naturalfake at January 23, 2015 01:59 PM (0cMkb)
If I ran the zoo, there would be "flashback" days in school at various ages and grades, to give kids some idea in their own persons of what the hard rough tough past was really like.
To include things like simulated disease deaths. Oops! Billy didn't make it. Black plague got him. He's got to go sit silently for the next seven hours of the school day as a "corpse".
Billy would have lots of company, depending on the era to which the flashback occurred.
Posted by: torquewrench at January 23, 2015 01:59 PM (noWW6)
"Vaccinations cause autism!"
And it doesn't matter how often you point out that there is no evidence for that. That the "evidence" was one study which was known to be flawed from the beginning, and has since turned out to be faked. They believe what they believe and nothing you can say will change it.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:59 PM (kff5f)
Posted by: Carol at January 23, 2015 02:00 PM (sj3Ax)
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 02:00 PM (weCf+)
Posted by: East Bay Jay at January 23, 2015 02:00 PM (7v8o1)
"Bwaney Fwank and Piss Dodd blew them off. "
The Senate also was in complete control of the Democrats at that time so no "investigation" or action.
Posted by: Vic at January 23, 2015 01:58 PM (wlDny)
in defense of frank and dodd blowng them off, for frank especially, it was more or less a reflex.
Posted by: yankeefifth at January 23, 2015 02:00 PM (VkSuo)
Posted by: Bandersnatch at January 23, 2015 01:57 PM (JtwS4)
As I am bobbing back and forth between here and work, I must missed something.
Oh btw, I wasn't dising your site. I've checked it out and find it interesting.
Posted by: Misanthropic Humanitarian at January 23, 2015 02:00 PM (vPh3W)
in bonuses because well barney frank in many ways. Barney told Bush we
didn't need to reform what was working.
Barney's boyfriend was an executive at Freddie, and it has been a great place for Dems to go for some sweet money, such a Rahm Emmanuel and Jamie Gorelick. And there are other DC insiders, like David Gregory's wife, who was a lawyer for Freddie.
Posted by: Lizzy at January 23, 2015 02:01 PM (ABcz/)
Have no symphony for a Jap free lace "military contractor"
Posted by: Nip Sip at January 23, 2015 01:43 PM (0FSuD)
He won't be needing a lace wig, that's for sure.
Posted by: rickl at January 23, 2015 02:01 PM (zoehZ)
School is they don't talk enough about the diseases we more-or-less
ended: what they were, what they'd do to you, how horrible even survival
could be, etc."
It shocked my daughter (college sophomore) to jaw-dropping silence to learn (while we were watching "It's a Wonderful Life", no less) that there was a time not too terribly long ago that 10's of thousands died every year from FLU.
Posted by: DocJ at January 23, 2015 02:01 PM (zrsn3)
It can't happen to me.
"Measles has been eliminated."
They need to spend a weekend in Tijuana.
Posted by: rickb223 at January 23, 2015 02:01 PM (zESFM)
Posted by: artisanal 'ette at January 23, 2015 01:57 PM (IXrOn)
Yep. And I really am not sure if the other is a male or female.
Posted by: RWC - Showerin'? Ain't nobody got no time for dat! at January 23, 2015 02:01 PM (fWAjv)
"Bwaney Fwank and Piss Dodd blew them off. "
The Senate also was in complete control of the Democrats at that time so no "investigation" or action.
Posted by: Vic at January 23, 2015 01:58 PM (wlDny
Not a fan of Bill O'Reilly. However, the time he had Barney the Purple Dinosaur on his show about the financial mess was awesome.
Posted by: Misanthropic Humanitarian at January 23, 2015 02:02 PM (vPh3W)
Well, now we know why they haven't had time to talk to Brady.
"NFL Investigating Browns' Texts"
http://es.pn/1Cv5TJk
Posted by: Bandersnatch at January 23, 2015 02:02 PM (JtwS4)
Go ahead, enjoy that morning mug. A new study suggests that people who are in the habit of drinking coffee regularly may be protected against malignant melanoma, the leading cause of skin-cancer death in the United States.
*happydance*
Posted by: artisanal 'ette at January 23, 2015 02:02 PM (IXrOn)
Posted by: Lizzy at January 23, 2015 01:57 PM (ABcz/)
Jenny McCarthy. She has more credence than the Mayo Clinic.
That is why the recent revelation from a researcher saying the ADHD is a made up disease is getting such push back. It's somehow easier to believe fairy tales than actual science.
Posted by: Jen the original at January 23, 2015 02:03 PM (nX2TX)
The nips are missing?! This is unacceptable. I'm launching an investigation right now! *hic*
Posted by: John Bonehead at January 23, 2015 02:03 PM (knoK7)
Posted by: Lincolntf at January 23, 2015 02:03 PM (2cS/G)
John Nolte @NolteNC 26m
Every Film Purchased at Sundance Last Year Flopped - Breitbart http://bit.ly/188KqdZ via @BreitbartNews
Posted by: Costanza Defense at January 23, 2015 02:03 PM (ZPrif)
Posted by: Bandersnatch at January 23, 2015 01:47 PM (JtwS4)
I have no idea what 12 and 20 Sigma Events are but they sound like terms from a particularly bad Keanu Reeves movie. Any bad Keanu Reeves movie.
INT/WAREHOUSE FILLED WITH HIGH-TECH-LOOKING COMPUTER SHIT. PEOPLE AT DESKS. BIG BUSY SCREENS EVERYWHERE, FLASHING UNINTELLIGIBLE GOBBLETY-GOOK.
BALDING, CYNICAL,SEEN-IT-ALL HARDCASEOFFICIAL: "What are we lookin' at, Keanu?'
KEANU looks intensely at computer screen: '12, 20 Sigma. At least.'
VAGUELY JEWISH NERDY GUYSEEN IN EVERY COMPUTER MOVIE: '20 Sigma? God help us all.'
And so on. Anyway, the history's already been written: Bush's fault. Those damned evil bankers.Great Depression-level disaster narrowly averted by quick-acting new President, Barack Obama.
If I was the suspicious type, I'd think they had this whole thing planned, but that's just me being paranoid.
Posted by: troyriser at January 23, 2015 02:03 PM (CAJL/)
I'll bet he does.
Posted by: Jane D'oh at January 23, 2015 02:03 PM (FsuaD)
Yep. Outside is constantly trying to kill you. Humans don't have really thick skin and blubber like some animals. We don't have really thick hair to keep us warm in winter. We don't have super sharp teeth and claws. We're slower than anything that might be a predator against us. We're slower than most things we might hunt as prey.
It is only by forcing Outside to *be* outside that we have survived as a species. Part of that means vaccinations against disease.
Antivaxers want to let the Outside come inside.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 02:04 PM (kff5f)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 01:59 PM (kff5f)
Fire can't burn steel!
Posted by: Rosie at January 23, 2015 02:04 PM (0FSuD)
--------------------
Didn't she recant earlier this year?
Of course, the damage has already been done.
Posted by: junior at January 23, 2015 02:04 PM (UWFpX)
Yes, about Darwin - have you heard of the Darwin Award? You're in the running!
Posted by: Lizzy at January 23, 2015 02:04 PM (ABcz/)
Posted by: 12 year old from central america at January 23, 2015 02:04 PM (WNERA)
Go ahead, enjoy that morning mug. A new study suggests that people who are in the habit of drinking coffee regularly may be protected against malignant melanoma, the leading cause of skin-cancer death in the United States.
--
In that case, I am good to go in the event of a nearby supernova
Posted by: Vashta Nerada at January 23, 2015 02:04 PM (40li+)
As I am bobbing back and forth between here and work, I must missed something.
RWC posted a link for anyone who harbored a two girl fantasy.
It was Maddow and a more porcine unattractive female.
It's not barrel-worthy, but it's mean.
Posted by: Bandersnatch at January 23, 2015 02:04 PM (JtwS4)
Posted by: Carol at January 23, 2015 02:05 PM (sj3Ax)
this Shanley Kane thing. Instapundit has been following it
she is a SJW who covers the tech field. She has a website and had a big following. Her thing was to call out tech companies on being racist, sexist bigoted homophobe rapists in very salty language. Very. Her thing was to get people fired, like the Mozilla founder. She was like a hitman who used twitteras herweapon.
Then she started to take aim at female techies if they dared disagree with her about anything. There is an industry magazine called Matter that was going to do a profile on her, nothing investigative. She flipped out, made all kinds of false claims of victimization by the magazine, blah blah blah. All on twitter
Now it has been revealed at Breitbart that she lived with a very nasty Neo Nazi professional troll who now live in Lebanon. And was saying very racist and anti-semitic things as late as 2012. Like she doesn't want the races mixing kind of thing. When confronted with it, she admitted it and said something along the lines of "hey I fucked a lot of assholes and I'm mentally ill. So, um, mulligan"
its fascinating
Posted by: ThunderB, Professional Ball Deflator at January 23, 2015 02:05 PM (zOTsN)
Fuck. I can only hope Japan's government continues to refuse to pay those goatfuckers any jizya. And fuck Obama, that limp dicked pusillanimous piece of shit.
Posted by: Insomniac at January 23, 2015 02:05 PM (4ZPVY)
Posted by: Muldoon, a solid man at January 23, 2015 02:06 PM (NeFrd)
in case you didn't hear
Go ahead, enjoy that morning mug. A new study suggests that
people who are in the habit of drinking coffee regularly may be
protected against malignant melanoma, the leading cause of skin-cancer
death in the United States.
*happydance*
Oh, my. All my lib in-laws are confirmed tea drinkers. They make a huge deal out of it, too. I have no idea why. I guess coffee is too low-brow for them.
Posted by: Jane D'oh at January 23, 2015 02:06 PM (FsuaD)
Kids got it hard these days. Measles, mumps, and all that other fun stuff gave you a few days off from school.
Posted by: SpongeBobSaget at January 23, 2015 02:06 PM (zauWW)
Posted by: MSNBC at January 23, 2015 02:06 PM (0FSuD)
Posted by: knows about the last days at January 23, 2015 02:06 PM (WNERA)
The nice thing is it sounds like the powers that be know they'll be out by the time that comes to be and therefore punted the fix, meaning this will all be on display again in the coming years.
Posted by: 0302 at January 23, 2015 02:07 PM (N6eLE)
John Nolte @NolteNC 26m
Every Film Purchased at Sundance Last Year Flopped - Breitbart http://bit.ly/188KqdZ via @BreitbartNews
Posted by: Costanza Defense at January 23, 2015 02:03 PM (ZPrif)
too bad
I was hoping just pulling out of California would make a difference, but nope. I guess because Redford was behind it. But, I do like their catalogs...
Posted by: artisanal 'ette at January 23, 2015 02:07 PM (IXrOn)
Posted by: Anderson Cooper's Smoked Sausages at January 23, 2015 02:07 PM (MbqmP)
Posted by: Insomniac at January 23, 2015 02:07 PM (4ZPVY)
Posted by: SGT York at January 23, 2015 02:07 PM (Majd9)
------------------
There's still chickenpox...
Posted by: junior at January 23, 2015 02:08 PM (UWFpX)
Oh, that's easy. The GOP, 'cause they're like in charge and stuff.
And, of course: Bush, George W.
Posted by: DocJ at January 23, 2015 02:08 PM (zrsn3)
Posted by: Vashta Nerada at January 23, 2015 02:04 PM (40li+)
me too
my husband says now I'll overdo it, lol
which? I ask.
Posted by: artisanal 'ette at January 23, 2015 02:08 PM (IXrOn)
Posted by: Vashta Nerada at January 23, 2015 02:08 PM (40li+)
Posted by: artisanal 'ette at January 23, 2015 02:08 PM (IXrOn)
As a son with severe ADHD... this is news?
ADHD (like many psychological diagnoses) is a label placed on a list of symptoms. It's not a "disease" in the sense of germs, or even necessarily bad genes. It's a "disease" in that there are some common symptoms, and when people have those symptoms they can be treated by a variety of specific therapies. Many of those therapies involve amphetamines, but not all of them.
If someone is suggesting there is not such a thing as the group of symptoms which leads children to have a harder time than their peers in focusing and exerting self control... well, that's different. Those symptoms obviously do exist, because we've demonstrated therapies which treat them.
The question is not whether or not there is such a thing as ADHD. The question is how much is it over diagnosed (at least some), and is the cure worse than the disease (sometimes yes, sometimes no).
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 02:09 PM (kff5f)
Posted by: junior at January 23, 2015 02:08 PM (UWFpX)
and lice
Posted by: artisanal 'ette at January 23, 2015 02:08 PM (IXrOn)
this is more the generation of STD's than anything I think
Posted by: artisanal 'ette at January 23, 2015 02:09 PM (IXrOn)
------------------
There's still chickenpox...
Posted by: junior at January 23, 2015 02:08 PM (UWFpX
Thats just grade school.
Wait til they get to Jr. High or High School and start coming down with STDs that are drug resistant. Fun.
Posted by: Misanthropic Humanitarian at January 23, 2015 02:09 PM (vPh3W)
So, who gets blamed when Fannie and Freddie go to hell again?
---
The Tea Party
Posted by: Vashta Nerada at January 23, 2015 02:08 PM (40li+)
Congressional Gridlock... we WANTED to do something about this.... really...
Posted by: Val Jarret at January 23, 2015 02:09 PM (qh617)
Jenny tried to backtrack a bit, without backtracking, LOL. Note in the link below where in 2009, she says that if parents had a choice between autism and measels, they would stand in line for measels.
http://tinyurl.com/mhj2fnw
Posted by: Jen the original at January 23, 2015 02:10 PM (nX2TX)
Posted by: SarahW at January 23, 2015 02:10 PM (Lbv/k)
Posted by: Bandersnatch at January 23, 2015 02:10 PM (JtwS4)
Did you know that German measles was originally known as "Peruvian measles"**, but in order to villify the Krauts the name was changed in 1915.
**not to be confused with Peruvian spotted weasels, an altogether nastier and more deadly scourge.
Posted by: Muldoon, a solid man at January 23, 2015 02:10 PM (NeFrd)
Came-down with that plague after my 2nd-kid came-down with it. I was 32. Never before or since have I prayed for the sweet meteor of death with such fervor, I can tell you.
Posted by: DocJ at January 23, 2015 02:10 PM (zrsn3)
Vaccinations cause mental retardation!
Posted by: Michele Bachmann at January 23, 2015 02:10 PM (XzRw1)
I was there from the beginning and participated with a group that told people in the government that things like CRA would end badly.
There is a reason you don't let people who can't repay a loan get over leveraged and it has zero to do with color or social status. See the last financial crisis for the predicted results.
The "bailouts" were not "handouts". They were repayment for loans that financial institutions told the government would go bad.
Posted by: Marcus T at January 23, 2015 02:10 PM (GGCsk)
Posted by: Carol at January 23, 2015 02:11 PM (sj3Ax)
Posted by: junior at January 23, 2015 02:08 PM (UWFpX)
and lice
Posted by: artisanal 'ette at January 23, 2015 02:08 PM (IXrOn)
this is more the generation of STD's than anything I think
Posted by: artisanal 'ette at January 23, 2015 02:09 PM (IXrOn)
Probably so. The CDC forecasts that in the very near future, all sexually active Americans will have HPV. ALL of them.
Posted by: Insomniac at January 23, 2015 02:11 PM (4ZPVY)
Remember how I say nothing gets resolved anymore; the issues simply fade out of the news cycle?
Yeah, what happened to the new strain of polio that obama imported to the U.S.A? Funny how that problem simply faded away...
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 02:11 PM (weCf+)
Posted by: OK, thanks, bye, had 'em in '61, I still immune? at January 23, 2015 02:11 PM (ucB75)
Posted by: Reflective Alternate-Reality Soothsayer at January 23, 2015 02:12 PM (weCf+)
Believe me, if there were any true villains from Wall Street or the banks, the Dems would have been happy to throw them to the wolves to save themselves. They didn't because there weren't any or too dangerous to their own freedom.
Posted by: George Orwell de Leon at January 23, 2015 02:12 PM (1BQGO)
Posted by: Michele Bachmann at January 23, 2015 02:10 PM (XzRw1)
Well, in your case it may be true.
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 02:12 PM (kff5f)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 02:13 PM (kff5f)
Posted by: East Bay Jay at January 23, 2015 02:13 PM (7v8o1)
That was probably true up until the late 1990s or early 00s. China has rushed past them now but Japan does still have a substantial budget, $80B or so, and China around $120B.
Posted by: Ricardo Kill at January 23, 2015 02:13 PM (AbFmZ)
am i the only one that fantasizes about plugging a jihadist while waiting in the grocery checkout? i just want it to be like ALLAHU ACK bambambambam
id watch the instore video on loop for days on end
Posted by: punchline at January 23, 2015 02:13 PM (USToB)
Which strains? I had verrucae on my hands when I was 6 & a plantar wart when I was 13.
Posted by: Anderson Cooper's Smoked Sausages at January 23, 2015 02:13 PM (MbqmP)
Posted by: AlFromBayShore at January 23, 2015 01:18 PM (lKamG)
Just saw that - for shame. 57 negative reviews and I guarantee you not one of them read it. See, e.g.:
"40 of 61 people found the following review helpful
1.0 out of 5 stars January 17, 2015
By alexeykozloff I wouldn't give a cent for this unprofessional biased lie. It totally misleads readers with a bunch of paid propaganda in favor of big banks. All the facts put upside down. Zero star would be fair."
So he admits he didn't read it because he won't buy it. And it's the only Amazon review he's ever written.
Scum.
Posted by: 0302 at January 23, 2015 02:13 PM (N6eLE)
Sooorrrryyyyyy.
But really what kind of dumbaas takes medical advice from a 3rd tier Hollywood chick who's primarily known for her big boobs?
Yeah, that's on you.
Toodles.
Kaithxbai.
Posted by: Jenny McDumbfuck at January 23, 2015 02:14 PM (0cMkb)
Posted by: Bandersnatch at January 23, 2015 02:10 PM (JtwS4)
I bet.
And they do get government support.
http://www.sundance.org/support/government-support
Posted by: artisanal 'ette at January 23, 2015 02:14 PM (IXrOn)
Posted by: Ray Van Dune at January 23, 2015 02:14 PM (81ia8)
It's not barrel-worthy, but it's mean.
Posted by: Bandersnatch at January 23, 2015 02:04 PM (JtwS4)
Here - Legartha (Winnick) making out with another woman. Seriously.
http://tinyurl.com/pydxmpg
http://tinyurl.com/pydxmpg
Posted by: RWC - Showerin'? Ain't nobody got no time for dat! at January 23, 2015 02:14 PM (fWAjv)
snowflake parents who can't seem to vaccinate their get, cuz, y'know,
science! b1tches!!.
And immigrant children who were never vaccinated.
No more herd immunity when you've got those two groups diluting the vaccinated herd.
But shhhhhhhh! We can't mention all those sick unaccompanied minors who brought with them scabies, lice, whooping cough, TB, EV-68, measles, mumps, and gawd knows what else.
Posted by: Lizzy at January 23, 2015 02:15 PM (ABcz/)
are in the habit of drinking coffee regularly may be protected against
malignant melanoma, the leading cause of skin-cancer death in the United
States.
I drink a shit-ton of coffee and still got melanoma. Maybe I should sue Folgers.
Posted by: Gristle Encased Head at January 23, 2015 02:15 PM (+lsX1)
In my uneducated opinion...
ADHD is a lot like PTSD... in that they are both a real thing, which is WAY overdiagnosed... and now used as an excuse to control certain populations.
Posted by: BB Wolf at January 23, 2015 02:15 PM (qh617)
Posted by: Bob Belcher at January 23, 2015 02:16 PM (3jmxp)
Posted by: AllenG (DedicatedTenther) - TrueCon at January 23, 2015 02:09 PM (kff5f)
AllenG, agree with you that certainly there are ADHD symptoms and for those parents who have children suffering from debilitating and limiting symptoms, it is a real disorder. And you and your family deserve all the grace from God for having to deal with those symptoms and may your child overcome and blossom.
What the author was saying is that there is an entire industry built up around "ADHD" and it isn't there to serve those children who actually have these disorders.
It's there to provide a revenue stream to drug companies and all the typical alternative therapies to children whose symptoms are due to other medical issues or more often, parental, home, and discipline issues.
I haven't read this researcher's materials, just the introduction. His revelation appears to be a confession that he has been involved in this industry through his research and is now coming clean about it.
Posted by: Jen the original at January 23, 2015 02:17 PM (nX2TX)
Posted by: eman at January 23, 2015 02:18 PM (xIRZZ)
Posted by: Bandersnatch at January 23, 2015 02:21 PM (JtwS4)
--
huh? Isn't that still the case?
hmmm... some quick googling shows many claim the flu kills 20-30k a year.
But other says that is a lie and exaggeration and that is combining flu/pneumonia deaths.
So I'm confused now.
Posted by: Costanza Defense at January 23, 2015 02:29 PM (ZPrif)
The prosecution rests.
Posted by: Taqyia2Me at January 23, 2015 02:51 PM (K7cZK)
I hope he doubles down this last two years. We cannot win if we cede the administrative state to them; that's the battlefield today.
Posted by: PJ at January 23, 2015 02:51 PM (cHuNI)
CDC sez (for 2010)...
Number of deaths for leading causes of death:
#8 Influenza and Pneumonia: 53,826
I have to believe the overwhelming majority of those folks would be more colloquially classified as dying from "old-age", but honestly I'm not so sure.
Posted by: DocJ at January 23, 2015 02:54 PM (zrsn3)
Democrats forced lenders, and Fannie and Freddie, to lend more to bad credit risks in Democrat constituencies. That's the long and short of it.
Posted by: Adjoran at January 23, 2015 04:20 PM (QIQ6j)
http://www.amazon.com/Hidden-Plain-Sight-World%C2%92s-Financial/dp/1594037701
Posted by: Matt at January 23, 2015 05:12 PM (6HdVM)
Posted by: Mistress Overdone at January 23, 2015 11:19 PM (2/oBD)
Posted by: tanstaafl at January 24, 2015 09:39 AM (p94jD)
Posted by: Tina at January 26, 2015 07:28 PM (95udX)
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