http://www.chuckroger.com/conversation.htm

...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rogér

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens |
Analog Innovations, Inc. | et |
Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
Phoenix, Arizona 85048 Skype: Contacts Only | |
Voice480)460-2350 Fax: Available upon request | Brass Rat |
E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rogér

Kookspew.

Remember McCain's campaign co-chair, Phil Gramm, who had to be fired once
he called Americans 'whiners'? Author of the Gramm-Leach-Bliley act?
Welcome to the architect of the credit crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

Of course, it may be said that the other half would be the
republican-sponsored Zero-Downpayment act. =)

On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens |
Analog Innovations, Inc. | et |
Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
Phoenix, Arizona 85048 Skype: Contacts Only | |
Voice480)460-2350 Fax: Available upon request | Brass Rat |
E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rog?

Kookspew.

Remember McCain's campaign co-chair, Phil Gramm, who had to be fired once
he called Americans 'whiners'? Author of the Gramm-Leach-Bliley act?
Welcome to the architect of the credit crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

Of course, it may be said that the other half would be the
republican-sponsored Zero-Downpayment act. =)



Naaah! The "other half" will be accomplished when all you leftist
whiners get laid off.

...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et |
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
| Phoenix, Arizona 85048 Skype: Contacts Only | |
| Voice480)460-2350 Fax: Available upon request | Brass Rat |
| E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rogér

Jim Thompson wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens |
Analog Innovations, Inc. | et |
Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
Phoenix, Arizona 85048 Skype: Contacts Only | |
Voice480)460-2350 Fax: Available upon request | Brass Rat |
E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rog?

Kookspew.

Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

Of course, it may be said that the other half would be the
republican-sponsored Zero-Downpayment act. =)



Naaah! The "other half" will be accomplished when all you leftist
whiners get laid off.

More k00kspew. But it's interesting to see you root for damage to
America, as right wingers do nowadays.

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens |
Analog Innovations, Inc. | et |
Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
Phoenix, Arizona 85048 Skype: Contacts Only | |
Voice480)460-2350 Fax: Available upon request | Brass Rat |
E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words' and
unsubstantiated 'opinion' lines like "proper oversight " (oh really?
What *is* "proper oversight?"), say not one thing about their 'theory'
as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.


Glass Steagall prevented depository institutions/commercial banks from
offering brokerage/trading services and other product lines that were
the domain of investment banks/securities institutions.
Gramm-Leach-Bliley in 1999 simply repealed Glass-Steagall, allowing
investment banks to merge with commercial banks. That did not
'deregulate' any of the existing operational requirements for
'investment' or 'loan' banking. It simply allowed institutions to do
both.

You are saying the requirement not to do both was not an operational
requirement? lol


If you look at which investment banks have undergone liquidation
proceedings/been acquired -- Bear Stearns, Merrill Lynch, Lehman
Brothers -- you'll note that they are the pure investment banks that
did *not* take advantage of Gramm-Leach-Bliley and merge with their
commercial brother institutions: Citigroup, JP Morgan Chase, et al. In
other words, Gramm-Leach-Bliley gave investment banks (which by nature
deploy capital based on short term loans) access to depositor bases
which have insulated them from recent market turmoil. G-L-B is the
reason MORE banks haven't gone under.

That doesn't affect the previous article.


Hey, don't take my word (or, apparently, anything resembling facts)
for it, listen to your previous Democrat 'god'.

More k00kspew.

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens |
Analog Innovations, Inc. | et |
Analog/Mixed-Signal ASIC's and Discrete Systems | manus |
Phoenix, Arizona 85048 Skype: Contacts Only | |
Voice480)460-2350 Fax: Available upon request | Brass Rat |
E-mail Icon at http://www.analog-innovations.com | 1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground lodged
in the bodily orifice closest to the ground... The tide is begin-
ning to turn. The Marxist Messiah may crash to earth in 2012, the
Bolshevik donkeys perhaps as early as 2010." - Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words' and
unsubstantiated 'opinion' lines like "proper oversight " (oh really?
What *is* "proper oversight?"), say not one thing about their
'theory' as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and "liar"
with no substantiation or reason, or even any respect to the meaning.

I re-read it just to double check my first opinion and it stands. The
article does a Jim Dandy job of dancing through every 'fighting word'
and innuendo it can dream up but provides no theory as to how this
'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place among banks
and insurance and securities companies, as if they had been eagerly awaiting
the passage of Gramm's Act.

Senator Phil Gramm clandestinely slipped a 262-page amendment into the
omnibus appropriations bill titled: Commodity Futures Modernization Act.
(Explains why some Dems voted for the final version - the original netted
every republican and one democrat.)

The essence of the act was the deregulation of derivatives trading
(financial instruments whose value changes in response to the changes in
underlying variables; the main use of derivatives is to reduce risk for one
party). The legislation contained a provision -- lobbied for by Enron, a
major campaign contributor to Gramm -- that exempted energy trading from
regulatory oversight.

So, why lie?

flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
| Analog Innovations, Inc. | et
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus
| Phoenix, Arizona 85048 Skype: Contacts Only |
| Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The tide
is begin- ning to turn. The Marxist Messiah may crash to earth
in 2012, the Bolshevik donkeys perhaps as early as 2010." -
Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words'
and unsubstantiated 'opinion' lines like "proper oversight " (oh
really? What *is* "proper oversight?"), say not one thing about
their 'theory' as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and "liar"
with no substantiation or reason, or even any respect to the
meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every 'fighting
word' and innuendo it can dream up but provides no theory as to how
this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place among
banks and insurance and securities companies, as if they had been
eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol

flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
| Analog Innovations, Inc. | et
| Analog/Mixed-Signal ASIC's and Discrete Systems | manus
| Phoenix, Arizona 85048 Skype: Contacts Only |
| Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The tide
is begin- ning to turn. The Marxist Messiah may crash to earth
in 2012, the Bolshevik donkeys perhaps as early as 2010." -
Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words'
and unsubstantiated 'opinion' lines like "proper oversight " (oh
really? What *is* "proper oversight?"), say not one thing about
their 'theory' as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and "liar"
with no substantiation or reason, or even any respect to the
meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every 'fighting
word' and innuendo it can dream up but provides no theory as to how
this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place among
banks and insurance and securities companies, as if they had been
eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol

marcodbeast wrote:
flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
Analog Innovations, Inc. | et
Analog/Mixed-Signal ASIC's and Discrete Systems | manus
Phoenix, Arizona 85048 Skype: Contacts Only |
Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The tide
is begin- ning to turn. The Marxist Messiah may crash to earth
in 2012, the Bolshevik donkeys perhaps as early as 2010." -
Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words'
and unsubstantiated 'opinion' lines like "proper oversight " (oh
really? What *is* "proper oversight?"), say not one thing about
their 'theory' as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and
"liar" with no substantiation or reason, or even any respect to the
meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every 'fighting
word' and innuendo it can dream up but provides no theory as to how
this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place among
banks and insurance and securities companies, as if they had been
eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol



How come I can do this in 15 minutes, and you can't do it at all? lol

http://www.govtrack.us/congress/bill.xpd?bill=s106-900

Sep 24, 2008 6:34 PM - Is this the bill that has lead to the financial
debaucle facing our nation today, Sept.24,2008, where Congress is querying
the Fed Chairman about bailing out Fanny Mae and Feddy Mac? - Read Answers

Answered by a visitor on Sep 28, 2008 5:56 AM - Yes. Also see its renewal
(CFMA 2005) and at least 1 of its lobbying supports (ISDA.org). It basically
removed OTC and off balance book derivative trades (swaps) from regulatory
oversight.

Answered by a visitor on Oct 3, 2008 4:07 AM - Yup.. this left the door
open for our current situation to transpire.

http://www.allbusiness.com/legal/law...-675369&siap=1

"[..] the Gramm-Leach-Bliley Financial Services Modernization Act (GLBA),
repealing after 66 years the Glass-Steagall Act that prohibited cross-sector
affiliation between the banking and securities industries. It also repealed
the 1956 Bank Holding Company Act, which prohibited unions between the
banking and insurance industries."

---------------------------------------------

http://mises.org/story/3098

"But an insidious form of "market-based policy" is also a real culprit in
the current mess. In 1999 a bill was passed by a Republican Congress and
signed by Democratic President Bill Clinton that rescinded the Depression
era's divorce of commercial banking activities from investment banking,
called the Glass-Stegall Act of 1933. That opened a floodgate of "creative"
financial instruments backed by notes and other commercial paper. Much of
the banking regulation of the Roosevelt administration - including
abandonment of the gold standard - made absolutely no sense, but markets can
fail with dire short-run consequences under a fiat monetary system. With
Glass-Stegall, Congress put its finger on and mitigated the tendency and
temptations of banks to create massive costly externalities to society, in
this case, by holding bundled mortgage-backed securities which were deemed
safe by rating agencies but which ultimately failed the market test.

The Financial Services Modernization Act of 1999 would make perfect sense in
a world regulated by a gold standard, 100% reserve banking, and no FDIC
deposit insurance; but in the world as it is, this "deregulation" amounts to
corporate welfare for financial institutions and a moral hazard that will
make taxpayers pay dearly. Such government privileges are nothing new to
Republicans - consider the effective subsidies to the pharmaceutical, sugar,
and steel industries - but this particular gift to financial institutions is
what allowed the credit bubble to expand to such absurd proportions, because
it allowed banks of all types to engage in increasingly risky transactions
and to greatly expand the leverage of their balance sheets. As the crisis
unfolds, credit continues to contract, the risk of bank failures increases,
and the possibility of far more serious economic consequences become more
apparent. The S&L crisis cost the taxpayers a few hundred billion, but this
crisis has the potential of saddling the taxpayer with several trillion in
bailouts."

---------------------------------------------

http://www.creators.com/opinion/from...-meltdown.html

McCain's former economic adviser is ex-Texas Sen. Phil Gramm. On Dec. 15,
2000, hours before Congress was to leave for Christmas recess, Gramm had a
262-page amendment slipped into the appropriations bill. It forbade federal
agencies to regulate the financial derivatives that greased the skids for
passing along risky mortgage-backed securities to investors.

And that, my friends, is why everything's falling apart. That is why the
taxpayers are now on the hook for the follies of Fannie Mae, Freddie Mac,
Bear Stearns and now the insurance giant AIG to the tune of $85 billion.
On Monday, McCain issued a tough-talk statement that he was "glad" that the
feds "have said no to using taxpayer money to bail out Lehman Brothers, a
position I have spoken about throughout this campaign." On Tuesday, the
government did the daddy of all bailouts. It took over AIG, fearing its
bankruptcy could set off a cataclysmic chain of events.

And do you know where the problems lay at AIG? They weren't in its main
insurance business. They were in its derivatives-trading unit.

Last February, Fortune Magazine called Gramm "McCain's Econ Brain." Gramm
lost the official title of economic adviser for making an impolitic remark
about this being "a nation of whiners." But Gramm's belief in letting
speculators do as they please was never an issue. And even after he left the
campaign, Gramm had been mentioned as a possible treasury secretary in a
McCain administration.

Another Gramm contribution was the "Enron loophole," which prevented federal
oversight of Enron's electronic energy trading.

Such favors proved very expensive to consumers but profitable to the Gramms.
Enron CEO Ken Lay chaired Gramm's 1992 re-election campaign, and wife Wendy
Gramm spent years on the Enron board, earning as much as $1.8 million,
according to Public Citizen, a consumer advocate."

----------------------------------------------

http://www.politicaljackass.com/2008...-yes-biden-no/

In 1999, the Gramm-Leach-Bliley Act repealed 1930's legislation that had
separated commercial and investment banks. Commercial banks, where people
deposit their paychecks and do personal banking, have regulation. Investment
banks didn't have that "fettering" as Republicans saw it.
John McCain voted for Gramm-Leach-Bliley. Joe Biden voted NO. The act passed
54-44, mostly a party line vote. Yes, Clinton signed the law. But Joe Biden
was against it.

With the 1930's Glass-Steagall Act repealed, the theory was competition
could happen now in financial services. The evil enemy of regulation was
gone, free markets would reign. Mergers happened that couldn't before. A
broader range of institutions could offer a broader range of products. Which
grew to include obscure, unregulated financial products with no collateral
to support them. Like sub-prime mortgages. Regulated banks couldn't take
those kinds of risks. Unregulated companies could.

------------------------------------------------

http://www.godlikeproductions.com/fo...sage609571/pg2

GLBA essentially eliminated the barriers between commercial and investment
banks to consolidate and merge, so that you could have hedge funds, regular
banking, lenders, brokerage services and insurance companies all under one
roof. One stop shopping! GLBA repealed key parts of the Glass-Steagall Act,
enacted in 1933 in response to the Great Depression to enact stricter
controls, and yes, regulation over the banking industry where speculation
had run amok. Indeed, without Glass-Steagall, regular folks who currently
are keeping their money in failed banks would be out of luck totally,
because Glass-Steagal created the FDIC to have government ensure their
deposits. (Never mind that FDIC is running of out money right now...I'm sure
some more deregulation would help that.)

You see, Senator McCain, a lot of us could see this coming because
everything that went out with deregulation in the past 10 years obviated the
need for common sense and created irrational exuberance in the economy.
Kuttner again:

Thanks to deregulation, these several realms are interconnected. Inflated
assets in real estate, the bond market, hedge funds, and private equity feed
on each other. And the most important bubble is the stock market itself. The
ratio of stock prices to corporate earnings is not quite as high as it was
in 1929 or 2000, but it is still very high by historic standards. Takeover
deals executed by hedge funds and private equity companies use borrowed
money to pay a premium for companies they take over. That inflates the stock
price. They hope that by selling off pieces of the company after cutting
costs (mainly wages), they can make a quick bundle. But this whole business
strategy is based on stock prices continuing to rise. If the cycle goes into
reverse, and the deal makers have no buyers at their desired price, or if
their financiers stop advancing them credit, the game stops and the stock
market sags. Today, the game has certainly slowed: According to research
firm Dealogic, the value of takeover deals fell from $695 billion in April
and $579 billion in July to $222 billion in August.

-----------------------------------------------------------

http://letters.salon.com/tech/htww/2...view/?show=all
Credit Default Swaps and the SEC
Yes indeed, the Gramm-Leach-Bliley Act put this exclusion in new sections 2A
of the Securities Act of 1933 and 3A of the Securities Exchange Act of 1934
where they are referred to as "securities-based swap agreements". As a law
professor who teaches securities regulation I am embarrassed to say that I
did not concentrate on the unusual nature of this exclusion until this
Summer when I was researching CDS's. I doubt many others did either because
plain-vanilla interest rate and currency rate swaps probably wouldn't fall
within the statutory definitions of "security" under the standard
interpretation and I, like most people not in the financial industry, did
not become aware of the importance of CDS's until the past year. No doubt
this exclusion explains why these deals, which are economically similar to
insurance, are papered using the ISDA (International Swap Dealers Assn)
form. (To give the devil his due, CDS's are subject to the anti-fraud
provisions of Sec. 10(b) of the '34 Act).

marcodbeast wrote:
flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
Analog Innovations, Inc. | et
Analog/Mixed-Signal ASIC's and Discrete Systems | manus
Phoenix, Arizona 85048 Skype: Contacts Only |
Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The tide
is begin- ning to turn. The Marxist Messiah may crash to earth
in 2012, the Bolshevik donkeys perhaps as early as 2010." -
Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to be
fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the 'words'
and unsubstantiated 'opinion' lines like "proper oversight " (oh
really? What *is* "proper oversight?"), say not one thing about
their 'theory' as to how the supposed act 'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and
"liar" with no substantiation or reason, or even any respect to the
meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every 'fighting
word' and innuendo it can dream up but provides no theory as to how
this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place among
banks and insurance and securities companies, as if they had been
eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol



How come I can do this in 15 minutes, and you can't do it at all? lol

http://www.govtrack.us/congress/bill.xpd?bill=s106-900

Sep 24, 2008 6:34 PM - Is this the bill that has lead to the financial
debaucle facing our nation today, Sept.24,2008, where Congress is querying
the Fed Chairman about bailing out Fanny Mae and Feddy Mac? - Read Answers

Answered by a visitor on Sep 28, 2008 5:56 AM - Yes. Also see its renewal
(CFMA 2005) and at least 1 of its lobbying supports (ISDA.org). It basically
removed OTC and off balance book derivative trades (swaps) from regulatory
oversight.

Answered by a visitor on Oct 3, 2008 4:07 AM - Yup.. this left the door
open for our current situation to transpire.

http://www.allbusiness.com/legal/law...-675369&siap=1

"[..] the Gramm-Leach-Bliley Financial Services Modernization Act (GLBA),
repealing after 66 years the Glass-Steagall Act that prohibited cross-sector
affiliation between the banking and securities industries. It also repealed
the 1956 Bank Holding Company Act, which prohibited unions between the
banking and insurance industries."

---------------------------------------------

http://mises.org/story/3098

"But an insidious form of "market-based policy" is also a real culprit in
the current mess. In 1999 a bill was passed by a Republican Congress and
signed by Democratic President Bill Clinton that rescinded the Depression
era's divorce of commercial banking activities from investment banking,
called the Glass-Stegall Act of 1933. That opened a floodgate of "creative"
financial instruments backed by notes and other commercial paper. Much of
the banking regulation of the Roosevelt administration - including
abandonment of the gold standard - made absolutely no sense, but markets can
fail with dire short-run consequences under a fiat monetary system. With
Glass-Stegall, Congress put its finger on and mitigated the tendency and
temptations of banks to create massive costly externalities to society, in
this case, by holding bundled mortgage-backed securities which were deemed
safe by rating agencies but which ultimately failed the market test.

The Financial Services Modernization Act of 1999 would make perfect sense in
a world regulated by a gold standard, 100% reserve banking, and no FDIC
deposit insurance; but in the world as it is, this "deregulation" amounts to
corporate welfare for financial institutions and a moral hazard that will
make taxpayers pay dearly. Such government privileges are nothing new to
Republicans - consider the effective subsidies to the pharmaceutical, sugar,
and steel industries - but this particular gift to financial institutions is
what allowed the credit bubble to expand to such absurd proportions, because
it allowed banks of all types to engage in increasingly risky transactions
and to greatly expand the leverage of their balance sheets. As the crisis
unfolds, credit continues to contract, the risk of bank failures increases,
and the possibility of far more serious economic consequences become more
apparent. The S&L crisis cost the taxpayers a few hundred billion, but this
crisis has the potential of saddling the taxpayer with several trillion in
bailouts."

---------------------------------------------

http://www.creators.com/opinion/from...-meltdown.html

McCain's former economic adviser is ex-Texas Sen. Phil Gramm. On Dec. 15,
2000, hours before Congress was to leave for Christmas recess, Gramm had a
262-page amendment slipped into the appropriations bill. It forbade federal
agencies to regulate the financial derivatives that greased the skids for
passing along risky mortgage-backed securities to investors.

And that, my friends, is why everything's falling apart. That is why the
taxpayers are now on the hook for the follies of Fannie Mae, Freddie Mac,
Bear Stearns and now the insurance giant AIG to the tune of $85 billion.
On Monday, McCain issued a tough-talk statement that he was "glad" that the
feds "have said no to using taxpayer money to bail out Lehman Brothers, a
position I have spoken about throughout this campaign." On Tuesday, the
government did the daddy of all bailouts. It took over AIG, fearing its
bankruptcy could set off a cataclysmic chain of events.

And do you know where the problems lay at AIG? They weren't in its main
insurance business. They were in its derivatives-trading unit.

Last February, Fortune Magazine called Gramm "McCain's Econ Brain." Gramm
lost the official title of economic adviser for making an impolitic remark
about this being "a nation of whiners." But Gramm's belief in letting
speculators do as they please was never an issue. And even after he left the
campaign, Gramm had been mentioned as a possible treasury secretary in a
McCain administration.

Another Gramm contribution was the "Enron loophole," which prevented federal
oversight of Enron's electronic energy trading.

Such favors proved very expensive to consumers but profitable to the Gramms.
Enron CEO Ken Lay chaired Gramm's 1992 re-election campaign, and wife Wendy
Gramm spent years on the Enron board, earning as much as $1.8 million,
according to Public Citizen, a consumer advocate."

----------------------------------------------

http://www.politicaljackass.com/2008...-yes-biden-no/

In 1999, the Gramm-Leach-Bliley Act repealed 1930's legislation that had
separated commercial and investment banks. Commercial banks, where people
deposit their paychecks and do personal banking, have regulation. Investment
banks didn't have that "fettering" as Republicans saw it.
John McCain voted for Gramm-Leach-Bliley. Joe Biden voted NO. The act passed
54-44, mostly a party line vote. Yes, Clinton signed the law. But Joe Biden
was against it.

With the 1930's Glass-Steagall Act repealed, the theory was competition
could happen now in financial services. The evil enemy of regulation was
gone, free markets would reign. Mergers happened that couldn't before. A
broader range of institutions could offer a broader range of products. Which
grew to include obscure, unregulated financial products with no collateral
to support them. Like sub-prime mortgages. Regulated banks couldn't take
those kinds of risks. Unregulated companies could.

------------------------------------------------

http://www.godlikeproductions.com/fo...sage609571/pg2

GLBA essentially eliminated the barriers between commercial and investment
banks to consolidate and merge, so that you could have hedge funds, regular
banking, lenders, brokerage services and insurance companies all under one
roof. One stop shopping! GLBA repealed key parts of the Glass-Steagall Act,
enacted in 1933 in response to the Great Depression to enact stricter
controls, and yes, regulation over the banking industry where speculation
had run amok. Indeed, without Glass-Steagall, regular folks who currently
are keeping their money in failed banks would be out of luck totally,
because Glass-Steagal created the FDIC to have government ensure their
deposits. (Never mind that FDIC is running of out money right now...I'm sure
some more deregulation would help that.)

You see, Senator McCain, a lot of us could see this coming because
everything that went out with deregulation in the past 10 years obviated the
need for common sense and created irrational exuberance in the economy.
Kuttner again:

Thanks to deregulation, these several realms are interconnected. Inflated
assets in real estate, the bond market, hedge funds, and private equity feed
on each other. And the most important bubble is the stock market itself. The
ratio of stock prices to corporate earnings is not quite as high as it was
in 1929 or 2000, but it is still very high by historic standards. Takeover
deals executed by hedge funds and private equity companies use borrowed
money to pay a premium for companies they take over. That inflates the stock
price. They hope that by selling off pieces of the company after cutting
costs (mainly wages), they can make a quick bundle. But this whole business
strategy is based on stock prices continuing to rise. If the cycle goes into
reverse, and the deal makers have no buyers at their desired price, or if
their financiers stop advancing them credit, the game stops and the stock
market sags. Today, the game has certainly slowed: According to research
firm Dealogic, the value of takeover deals fell from $695 billion in April
and $579 billion in July to $222 billion in August.

-----------------------------------------------------------

http://letters.salon.com/tech/htww/2...view/?show=all
Credit Default Swaps and the SEC
Yes indeed, the Gramm-Leach-Bliley Act put this exclusion in new sections 2A
of the Securities Act of 1933 and 3A of the Securities Exchange Act of 1934
where they are referred to as "securities-based swap agreements". As a law
professor who teaches securities regulation I am embarrassed to say that I
did not concentrate on the unusual nature of this exclusion until this
Summer when I was researching CDS's. I doubt many others did either because
plain-vanilla interest rate and currency rate swaps probably wouldn't fall
within the statutory definitions of "security" under the standard
interpretation and I, like most people not in the financial industry, did
not become aware of the importance of CDS's until the past year. No doubt
this exclusion explains why these deals, which are economically similar to
insurance, are papered using the ISDA (International Swap Dealers Assn)
form. (To give the devil his due, CDS's are subject to the anti-fraud
provisions of Sec. 10(b) of the '34 Act).

marcodbeast wrote:


How come I can do this in 15 minutes, and you can't do it at all? lol


This is the same reason that the churchs preached to Bushs
election/re-election:

They were paid off.

The churchs got money to "help the poor", did you notice how many new
churchs were built in the last 10 years. ( just when donating to churchs
was down )

Everyone who voted for Bush got their pay off via the tax cuts.

More tax cuts more pay off.

Always follow the money.

Thanks for your research, I can use this. ;-)

don


http://www.govtrack.us/congress/bill.xpd?bill=s106-900

Sep 24, 2008 6:34 PM - Is this the bill that has lead to the financial
debaucle facing our nation today, Sept.24,2008, where Congress is querying
the Fed Chairman about bailing out Fanny Mae and Feddy Mac? - Read Answers

Answered by a visitor on Sep 28, 2008 5:56 AM - Yes. Also see its renewal
(CFMA 2005) and at least 1 of its lobbying supports (ISDA.org). It basically
removed OTC and off balance book derivative trades (swaps) from regulatory
oversight.

Answered by a visitor on Oct 3, 2008 4:07 AM - Yup.. this left the door
open for our current situation to transpire.

http://www.allbusiness.com/legal/law...-675369&siap=1

"[..] the Gramm-Leach-Bliley Financial Services Modernization Act (GLBA),
repealing after 66 years the Glass-Steagall Act that prohibited cross-sector
affiliation between the banking and securities industries. It also repealed
the 1956 Bank Holding Company Act, which prohibited unions between the
banking and insurance industries."

---------------------------------------------

http://mises.org/story/3098

"But an insidious form of "market-based policy" is also a real culprit in
the current mess. In 1999 a bill was passed by a Republican Congress and
signed by Democratic President Bill Clinton that rescinded the Depression
era's divorce of commercial banking activities from investment banking,
called the Glass-Stegall Act of 1933. That opened a floodgate of "creative"
financial instruments backed by notes and other commercial paper. Much of
the banking regulation of the Roosevelt administration - including
abandonment of the gold standard - made absolutely no sense, but markets can
fail with dire short-run consequences under a fiat monetary system. With
Glass-Stegall, Congress put its finger on and mitigated the tendency and
temptations of banks to create massive costly externalities to society, in
this case, by holding bundled mortgage-backed securities which were deemed
safe by rating agencies but which ultimately failed the market test.

The Financial Services Modernization Act of 1999 would make perfect sense in
a world regulated by a gold standard, 100% reserve banking, and no FDIC
deposit insurance; but in the world as it is, this "deregulation" amounts to
corporate welfare for financial institutions and a moral hazard that will
make taxpayers pay dearly. Such government privileges are nothing new to
Republicans - consider the effective subsidies to the pharmaceutical, sugar,
and steel industries - but this particular gift to financial institutions is
what allowed the credit bubble to expand to such absurd proportions, because
it allowed banks of all types to engage in increasingly risky transactions
and to greatly expand the leverage of their balance sheets. As the crisis
unfolds, credit continues to contract, the risk of bank failures increases,
and the possibility of far more serious economic consequences become more
apparent. The S&L crisis cost the taxpayers a few hundred billion, but this
crisis has the potential of saddling the taxpayer with several trillion in
bailouts."

---------------------------------------------

http://www.creators.com/opinion/from...-meltdown.html

McCain's former economic adviser is ex-Texas Sen. Phil Gramm. On Dec. 15,
2000, hours before Congress was to leave for Christmas recess, Gramm had a
262-page amendment slipped into the appropriations bill. It forbade federal
agencies to regulate the financial derivatives that greased the skids for
passing along risky mortgage-backed securities to investors.

And that, my friends, is why everything's falling apart. That is why the
taxpayers are now on the hook for the follies of Fannie Mae, Freddie Mac,
Bear Stearns and now the insurance giant AIG to the tune of $85 billion.
On Monday, McCain issued a tough-talk statement that he was "glad" that the
feds "have said no to using taxpayer money to bail out Lehman Brothers, a
position I have spoken about throughout this campaign." On Tuesday, the
government did the daddy of all bailouts. It took over AIG, fearing its
bankruptcy could set off a cataclysmic chain of events.

And do you know where the problems lay at AIG? They weren't in its main
insurance business. They were in its derivatives-trading unit.

Last February, Fortune Magazine called Gramm "McCain's Econ Brain." Gramm
lost the official title of economic adviser for making an impolitic remark
about this being "a nation of whiners." But Gramm's belief in letting
speculators do as they please was never an issue. And even after he left the
campaign, Gramm had been mentioned as a possible treasury secretary in a
McCain administration.

Another Gramm contribution was the "Enron loophole," which prevented federal
oversight of Enron's electronic energy trading.

Such favors proved very expensive to consumers but profitable to the Gramms.
Enron CEO Ken Lay chaired Gramm's 1992 re-election campaign, and wife Wendy
Gramm spent years on the Enron board, earning as much as $1.8 million,
according to Public Citizen, a consumer advocate."

----------------------------------------------

http://www.politicaljackass.com/2008...-yes-biden-no/

In 1999, the Gramm-Leach-Bliley Act repealed 1930's legislation that had
separated commercial and investment banks. Commercial banks, where people
deposit their paychecks and do personal banking, have regulation. Investment
banks didn't have that "fettering" as Republicans saw it.
John McCain voted for Gramm-Leach-Bliley. Joe Biden voted NO. The act passed
54-44, mostly a party line vote. Yes, Clinton signed the law. But Joe Biden
was against it.

With the 1930's Glass-Steagall Act repealed, the theory was competition
could happen now in financial services. The evil enemy of regulation was
gone, free markets would reign. Mergers happened that couldn't before. A
broader range of institutions could offer a broader range of products. Which
grew to include obscure, unregulated financial products with no collateral
to support them. Like sub-prime mortgages. Regulated banks couldn't take
those kinds of risks. Unregulated companies could.

------------------------------------------------

http://www.godlikeproductions.com/fo...sage609571/pg2

GLBA essentially eliminated the barriers between commercial and investment
banks to consolidate and merge, so that you could have hedge funds, regular
banking, lenders, brokerage services and insurance companies all under one
roof. One stop shopping! GLBA repealed key parts of the Glass-Steagall Act,
enacted in 1933 in response to the Great Depression to enact stricter
controls, and yes, regulation over the banking industry where speculation
had run amok. Indeed, without Glass-Steagall, regular folks who currently
are keeping their money in failed banks would be out of luck totally,
because Glass-Steagal created the FDIC to have government ensure their
deposits. (Never mind that FDIC is running of out money right now...I'm sure
some more deregulation would help that.)

You see, Senator McCain, a lot of us could see this coming because
everything that went out with deregulation in the past 10 years obviated the
need for common sense and created irrational exuberance in the economy.
Kuttner again:

Thanks to deregulation, these several realms are interconnected. Inflated
assets in real estate, the bond market, hedge funds, and private equity feed
on each other. And the most important bubble is the stock market itself. The
ratio of stock prices to corporate earnings is not quite as high as it was
in 1929 or 2000, but it is still very high by historic standards. Takeover
deals executed by hedge funds and private equity companies use borrowed
money to pay a premium for companies they take over. That inflates the stock
price. They hope that by selling off pieces of the company after cutting
costs (mainly wages), they can make a quick bundle. But this whole business
strategy is based on stock prices continuing to rise. If the cycle goes into
reverse, and the deal makers have no buyers at their desired price, or if
their financiers stop advancing them credit, the game stops and the stock
market sags. Today, the game has certainly slowed: According to research
firm Dealogic, the value of takeover deals fell from $695 billion in April
and $579 billion in July to $222 billion in August.

-----------------------------------------------------------

http://letters.salon.com/tech/htww/2...view/?show=all
Credit Default Swaps and the SEC
Yes indeed, the Gramm-Leach-Bliley Act put this exclusion in new sections 2A
of the Securities Act of 1933 and 3A of the Securities Exchange Act of 1934
where they are referred to as "securities-based swap agreements". As a law
professor who teaches securities regulation I am embarrassed to say that I
did not concentrate on the unusual nature of this exclusion until this
Summer when I was researching CDS's. I doubt many others did either because
plain-vanilla interest rate and currency rate swaps probably wouldn't fall
within the statutory definitions of "security" under the standard
interpretation and I, like most people not in the financial industry, did
not become aware of the importance of CDS's until the past year. No doubt
this exclusion explains why these deals, which are economically similar to
insurance, are papered using the ISDA (International Swap Dealers Assn)
form. (To give the devil his due, CDS's are subject to the anti-fraud
provisions of Sec. 10(b) of the '34 Act).

flipper wrote:
On Fri, 10 Apr 2009 12:35:31 -0500, "marcodbeast"
wrote:

marcodbeast wrote:
flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
Analog Innovations, Inc. | et
Analog/Mixed-Signal ASIC's and Discrete Systems | manus
Phoenix, Arizona 85048 Skype: Contacts Only |
Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The
tide is begin- ning to turn. The Marxist Messiah may crash
to earth in 2012, the Bolshevik donkeys perhaps as early as
2010." - Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to
be fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the
'words' and unsubstantiated 'opinion' lines like "proper
oversight " (oh really? What *is* "proper oversight?"), say
not one thing about their 'theory' as to how the supposed act
'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and
"liar" with no substantiation or reason, or even any respect to
the meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every
'fighting word' and innuendo it can dream up but provides no
theory as to how this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place
among banks and insurance and securities companies, as if they
had been eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol



How come I can do this in 15 minutes, and you can't do it at all?
lol

You're 'amazed' at finding a forest of parrots?

That's is what I call the Ladies Gossip Circle fallacy. Martha starts
a rumor and faster than the speed of light all the ladies have heard
the gossip and silly you figure this 'proves' the validity of the
rumor.

Sounds a lot like when the repubs tried to blame a dem bill from 1977.
lol



These don't do any more than the one above

Anyone here who can read above the fifth grade level knows better.

you've obviously found
lacking,

Non sequitur.

or else you wouldn't have looked for more,

Non Sequitur.

and don't offer
any theory how this 'caused' the crisis either. They just parrot,
sometimes mixing and adding to, the fighting words, guilt by
association, and innuendo passed through the gossip circle.

Made-up crap.

)More citreless crap snipped)

flipper wrote:
On Fri, 10 Apr 2009 12:35:31 -0500, "marcodbeast"
wrote:

marcodbeast wrote:
flipper wrote:
On Thu, 9 Apr 2009 09:26:36 -0500, "marcodbeast"
wrote:

flipper wrote:
On Wed, 8 Apr 2009 13:35:33 -0500, "marcodbeast"
wrote:

flipper wrote:
On Thu, 2 Apr 2009 11:23:34 -0500, "marcodbeast"
wrote:

Jim Thompson wrote:
http://www.chuckroger.com/conversation.htm

...Jim Thompson
James E.Thompson, P.E. | mens
Analog Innovations, Inc. | et
Analog/Mixed-Signal ASIC's and Discrete Systems | manus
Phoenix, Arizona 85048 Skype: Contacts Only |
Voice480)460-2350 Fax: Available upon request | Brass
Rat | E-mail Icon at http://www.analog-innovations.com |
1962 |

"The way I see it, anyone thinking our prospects are better
because of Obama has the body part farthest from the ground
lodged in the bodily orifice closest to the ground... The
tide is begin- ning to turn. The Marxist Messiah may crash
to earth in 2012, the Bolshevik donkeys perhaps as early as
2010." - Chuck Rogér

Kookspew.

Well, you're correct in calling your post kookspew.


Remember McCain's campaign co-chair, Phil Gramm, who had to
be fired once he called Americans 'whiners'? Author of the
Gramm-Leach-Bliley act? Welcome to the architect of the credit
crash.

http://losangeles.injuryboard.com/mi...oogleid=242468

or

http://tinyurl.com/5lh83s

And those articles *are* kookspew which, despite all the
'words' and unsubstantiated 'opinion' lines like "proper
oversight " (oh really? What *is* "proper oversight?"), say
not one thing about their 'theory' as to how the supposed act
'caused' the crisis.

Lie.

And there's a good
reason for that: it didn't.

Lie.

Thank you for demonstrating one of the typical, and despicable,
characteristics of 'liberals': the knee jerk use of "lie" and
"liar" with no substantiation or reason, or even any respect to
the meaning.

I re-read it just to double check my first opinion and it stands.
The article does a Jim Dandy job of dancing through every
'fighting word' and innuendo it can dream up but provides no
theory as to how this 'caused' the crisis.

and once the Act passed, an influx of "megamergers" took place
among banks and insurance and securities companies, as if they
had been eagerly awaiting the passage of Gramm's Act.

"megamerger" -- fighting word

"as if they had been eagerly awaiting" -- innuendo

But not one thing about how any of that 'caused' a housing bubble,
declining prices, bad loans, toxic assets. or anything else.

See 'research'. lol



How come I can do this in 15 minutes, and you can't do it at all?
lol

You're 'amazed' at finding a forest of parrots?

That's is what I call the Ladies Gossip Circle fallacy. Martha starts
a rumor and faster than the speed of light all the ladies have heard
the gossip and silly you figure this 'proves' the validity of the
rumor.

Sounds a lot like when the repubs tried to blame a dem bill from 1977.
lol



These don't do any more than the one above

Anyone here who can read above the fifth grade level knows better.

you've obviously found
lacking,

Non sequitur.

or else you wouldn't have looked for more,

Non Sequitur.

and don't offer
any theory how this 'caused' the crisis either. They just parrot,
sometimes mixing and adding to, the fighting words, guilt by
association, and innuendo passed through the gossip circle.

Made-up crap.

)More citreless crap snipped)