On 8/20/2012 12:04 PM, wrote:
On Aug 20, 1:52 pm, Hawke wrote:
On 8/19/2012 9:10 PM, wrote:

It's a breeze to learn the republicans did not believe in regulating the
financial industry and so they didn't.

Some of those believing in not regulating the financial industry were
Democrats. Chris Dodd was bought and paid for.





I remember too much about

Barney Frank and Chris Dodd to believe it was not at least equally the
Democrats fault.






Who took the special loan from Countrywide? i will refresh your
memory. It was Chris Dodd, Democrat from Conn. See
http://www.fireandreamitchell.com/la...er-idiots/chri...
for the Countrywide and other scandals.

Irrelevant. I know all about Dodd getting a better loan rate from
Countrywide because of who he was. That happens all the time. It had
nothing to do with the republicans not controlling the banks.

It had to do with getting Dodd to vote as he did.



That's exactly how I know that you don't know what you are talking about
because math has nothing to do with how the agencies rated things.

And that is how I know you are ignorant of the basis for CDO's.


Actually it was done with smoke and mirrors. The fact is a CDO filled
with Triple B bonds should be rated as one with Triple B bonds not as a
Triple A. That's fraud. That's what they were doing. They rated things
as Triple A that by no one's standards were triple A grade investments.
That's the whole point. No amount of math can make a silk purse out of a
sow's ear.

See you do not understand CDO's.



And by what you said above. You clearly don't know the relationship
between Wall Street and the rating agencies. You don't know the
influence the banks has on the rating agencies or how they do business.

I undorstand better than you.




I'm not saying that there wasn't some part played by Democrats. They
were not angels in this either. But when one side is preponderantly
wrong then I tend to not bother with the minor player.

That is what you do. Ignore the details on what happened and why.

T
I just this afternoon watched Kristen Grind on Book TV talking about


Because no one was watching the store. All this stupid and overly risky
behavior was done by the banks themselves. The government agencies that
should have been on top of this and done something about it did nothing.
When the party in power believes it's role is to allow business to be
free to do anything it wants you have to hold it responsible when things
blow up. Both them and the financial institutions. Both were to blame.
But the republicans gave the industry the chance to blow itself up
instead of keeping it under control.



I guess your habit of not watching TV is to blame here. Because it seems
you have not seen what Dodd and Frank look like these days. They are
OLD! Dodd has all white hair and is in his late 60s. Frank is old too
and has been in congress a very long time. His district was changed
because of redistricting. He would have had to campaign in an area he
had never been in so he thought it was time to hang it up. It had
nothing to do with anything else.

It did have everything to do with the voters finding out what they had
been doing.

Dan


Sorry Dan, but you don't have anything to back up those opinions of
yours. I saw Barney frank in person say that his district was redrawn so
he would have to go to someplace he has never been and try to get
reelected there. He'd been in congress many years and had had enough.
Dodd may well have left because he knew he would lose if he ran again.
That happens all the time. Areas change. Dodd had been there for 30
years. That's long enough in my book. But there is no proof he left for
any wrong doing. He did too much for his state for many, many years.
It was just time for him to go.

Hawke