Inside Job

[bhunter]

Originally Posted by BlueStreak

Primarily their own, but also those that bribed them.

To my mind, saying they only did it "because they could" excuses nothing.

True, but it does help tease out motivations. If people were bribed, then criminal sanctions ought be taken. How fine is the line between a political donation and a bribe. What happened to the two executives at Fannie that received favorable terms from Countrywide (Raines and Johnson)?

But, that's what we are doing that for these people. Why?
Wrong is wrong. Why are there no heads rolling? None?
As a matter of fact, we now have politicians telling us that
further deregulation is the answer. Forget cleaning house of corruption
and enforcing existing regulations, these loonies think less oversight
is the answer...........................

My position is that neither party really wants to open up the issue of blame. I think it can be argued that Fannie and Freddie ought not exist because of the implied guarantee of the U.S. Government, then again, if things continue the way they are going, that guarantee will not be worth much.

[noonereal]

Originally Posted by BlueStreak

Just watched this movie. Wow! Everyone should check it out. I'd like to see your thoughts on it.

Dave

I don't watch movies.

Give me a dry documentry and I am happy however.

[BlueStreak]

Originally Posted by noonereal

I don't watch movies.

Give me a dry documentry and I am happy however.

It is a documentary, Noone.

Dave

[BlueStreak]

So, I'm not the only one who's noticed this;

If a poor man steals from another poor man, he goes to jail.
If a poor man steals from a rich man, he goes to jail.
If a rich man steals from another rich man, he might go to jail.
If a rich man steals from the poor,-----Nothing happens.

Dave

[noonereal]

Originally Posted by BlueStreak

So, I'm not the only one who's noticed this;

If a poor man steals from another poor man, he goes to jail.
If a poor man steals from a rich man, he goes to jail.
If a rich man steals from another rich man, he might go to jail.
If a rich man steals from the poor,-----Nothing happens.

Dave

i did notice that

[merrylander]

I don't know if it was the Federal Government or Wall Street who designed the current mortgage system but I am inclined to suspect it was Wall Street. Several things make me wonder about it, frex Canada has no Freddie or Fanny, the government does not guarantee loans. There are no mortgage brokers, no title companies, no securitization, no derivatives. Mortgage interest is not dedcutible from income tax but capital gains on your home are not taxed either.

The result - home ownership as a percentage of population is marginally higher in Canada, so what exactly did the 'ownership encouragement' do exactly? Besides make a lot of brokers, title companies and bankers rich.

[noonereal]

Originally Posted by merrylander

The result - home ownership as a percentage of population is marginally higher in Canada, so what exactly did the 'ownership encouragement' do exactly? Besides make a lot of brokers, title companies and bankers rich.

it hurt untold numbers of good hard working lower class folks

they are the God damned victims

no one ever considers them, no one ever does

the working poor in america are the most victimized group of Americans and all we hear is that if you work hard you can be anything in this country

that is just trash

the truth is the working poor has very very little opportunity and is the most victimized group in the country

[bhunter]

Originally Posted by noonereal

it hurt untold numbers of good hard working lower class folks

they are the God damned victims

no one ever considers them, no one ever does

the working poor in america are the most victimized group of Americans and all we hear is that if you work hard you can be anything in this country

that is just trash

the truth is the working poor has very very little opportunity and is the most victimized group in the country

Given the plight of most people on this earth "working poor people" in the U.S. aren't going to get a lot of sympathy. I see working poor everyday in San Diego, They are still living comparatively good lives compared to say a hundred years ago. Life expectancy higher, infant mortality lower, working time substantially less, and greater leisure. If opportunity is so unavailable here, then why do our friends from the South continually come across the border?

[finnbow]

Originally Posted by bhunter

Given the plight of most people on this earth "working poor people" in the U.S. aren't going to get a lot of sympathy. I see working poor everyday in San Diego, They are still living comparatively good lives compared to say a hundred years ago. Life expectancy higher, infant mortality lower, working time substantially less, and greater leisure. If opportunity is so unavailable here, then why do our friends from the South continually come across the border?

I guess it depends on your frame of reference. By several measures, we are considered the richest country in the world. Yet, the amount of poverty and hunger, even among the (under)employed is shameful. If you compare our situation with "our friends from the South," our country, top to bottom, looks pretty good with respect to the distribution of resources among our citizens. Compared to other First World industrialized nations, not so much.

[merrylander]

Originally Posted by finnbow

I guess it depends on your frame of reference. By several measures, we are considered the richest country in the world. Yet, the amount of poverty and hunger, even among the (under)employed is shameful. If you compare our situation with "our friends from the South," our country, top to bottom, looks pretty good with respect to the distribution of resources among our citizens. Compared to other First World industrialized nations, not so much.

But we are not First World anymore - welcome to Baghdad on the Potomac

(Potomac Pnobscott, Piscataway - how come we got the Indian with the speech impediment?)