WHO REALLY CRASHED THE ECONOMY?

  1. You have chosen to ignore posts from bacalove. Show bacalove's posts

    WHO REALLY CRASHED THE ECONOMY?

    WALL STREETS GREATEST FEAR...
    ( Who Really Crashed the Economy?)

    "And why do we keep blaming the wrong people?  Mobs disrupt town meetings. Glenn Beck amplifies a careless remark by a mid-level White House staff member into a threat of a national communist takeover. The right wing spin machine creates a parent revolt over a presidential pep talk to students urging them to study hard and stay in school. Meanwhile, the Party of No blocks action on health care and climate disruption with lies and distortions and declares President Obama’s stimulus package a socialist plot and a failed waste of taxpayer money.

    There is a common thread. Each of these media events has diverted attention from Wall Street’s responsibility for crashing the economy, taking trillions of dollars in public bailout money, and then rewarding itself with outlandish bonuses.


    The Wall Street corporations funding the front organizations that orchestrate these and other diversions hope we will forget that America’s number one problem is Wall Street—and the overpaid Wall Street casino gamblers who destroyed our economy in a reckless test of the theory that markets can self-regulate and that the unrestrained pursuit of individual greed is beneficial to society.

    Wall Street’s greatest fear is that the public might demand Congress and the president shut down the casino. Any issue that shifts attention away from Wall Street and pins the blame for job loss and mortgage foreclosures on President Obama works in its favor."


    http://www.yesmagazine.org/blogs/david-korten/blog-who-really-crashed-the-economy

    Maybe the media should do a better job on reporting the reality and not get caught up in "drama" that does not address our pressing problems of today!

     
  2. You have chosen to ignore posts from Ltown1. Show Ltown1's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    Can't blame it all on Wall Street.  They are and always will be a greedy bunch of dirtbags.

    You must mention the congress members who took their money and deregulated the banking industry.  

    In return for some hefty campaign contributions, they put the fox in charge of the hen house.  
     
  3. You have chosen to ignore posts from aces1. Show aces1's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    Because the media is owned, bought and paid for by corporations!!!!  The rest of the world is laughing at us!!!  But, but, what about the teabaggers?  forget the teabaggers!
     
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  5. You have chosen to ignore posts from scauma82. Show scauma82's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]WALL STREETS GREATEST FEAR... ( Who Really Crashed the Economy?) "And why do we keep blaming the wrong people?  Mobs disrupt town meetings. Glenn Beck amplifies a careless remark by a mid-level White House staff member into a threat of a national communist takeover. The right wing spin machine creates a parent revolt over a presidential pep talk to students urging them to study hard and stay in school. Meanwhile, the Party of No blocks action on health care and climate disruption with lies and distortions and declares President Obama’s stimulus package a socialist plot and a failed waste of taxpayer money. There is a common thread. Each of these media events has diverted attention from Wall Street’s responsibility for crashing the economy, taking trillions of dollars in public bailout money, and then rewarding itself with outlandish bonuses. The Wall Street corporations funding the front organizations that orchestrate these and other diversions hope we will forget that America’s number one problem is Wall Street—and the overpaid Wall Street casino gamblers who destroyed our economy in a reckless test of the theory that markets can self-regulate and that the unrestrained pursuit of individual greed is beneficial to society. Wall Street’s greatest fear is that the public might demand Congress and the president shut down the casino. Any issue that shifts attention away from Wall Street and pins the blame for job loss and mortgage foreclosures on President Obama works in its favor." http://www.yesmagazine.org/blogs/david-korten/blog-who-really-crashed-the-economy Maybe the media should do a better job on reporting the reality and not get caught up in "drama" that does not address our pressing problems of today!
    Posted by bacalove[/QUOTE]

    i don't think anyone knows exactly who/when/where this whole thing happened but if we're putting in our two cents, i'd say good old fashioned american greed had a lot to do with it. and i mean greed from politicians, corporations and yup, good ole joe shmoe the American. we tried to finance a lifestyle our economy simply couldn't support. in the big picture, america (and corporations) go bankrupt for the same reasons regular folk do, to much credit.
     
  6. You have chosen to ignore posts from sk8ter2008. Show sk8ter2008's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    Those bonuses to execs in most cases were guaranteed and could not legally be ignored. You could make the argument that they should have refused them as individuals but, not that the corporations should not have paid them.

    The economic crash started in the housing sector.

    In 2004 when the indications of a coming problem were brought up the people who brought it up were called racist and elitist.

    look it up.

    http://www.youtube.com/watch?v=hxMInSfanqg&feature=PlayList&p=A4A8936DE66A4D18&playnext=1&playnext_from=PL&index=44
     
  7. You have chosen to ignore posts from scauma82. Show scauma82's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    The economic crash started in the housing sector.

    eh, debatable. you'd first have to ask why housing prices began to skyrocket, which was basically demand grew quicker than supply, then you'd have to ask why demand grew (and this is where it gets sticky) some people will say ARM's became more readily available, some would say bush encouraged banks to lend to low-income people, some might say banks got greedy and gave loans to people who they should've known couldn't afford them (mainly b/c said loans would be broken up and sold off), some might say people took out loans they knew they couldn't afford......it's probably a combination of all. i do get your point when you say it started in the housing sector, but things don't happen in vaccuum, there's always a cause and in effect. 

    the cause of the housing bubble was (probably) some combination of policy, corporate greed, and trying to keep up with the jones' while the effect was what we see today.
     
  8. You have chosen to ignore posts from macnh1. Show macnh1's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    Who is a bigger bunch of crooks, Wall Street or Congress????

    Atleast when Wall Street does well, our 401k's do well.  Congress just takes and wastes and takes and wastes.

     
     
  9. You have chosen to ignore posts from lrecliner. Show lrecliner's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]The economic crash started in the housing sector. eh, debatable. you'd first have to ask why housing prices began to skyrocket, which was basically demand grew quicker than supply, then you'd have to ask why demand grew (and this is where it gets sticky) some people will say ARM's became more readily available, some would say bush encouraged banks to lend to low-income people, some might say banks got greedy and gave loans to people who they should've known couldn't afford them (mainly b/c said loans would be broken up and sold off), some might say people took out loans they knew they couldn't afford......it's probably a combination of all. i do get your point when you say it started in the housing sector, but things don't happen in vaccuum, there's always a cause and in effect.  the cause of the housing bubble was (probably) some combination of policy, corporate greed, and trying to keep up with the jones' while the effect was what we see today.
    Posted by scauma82[/QUOTE]


    I remember when I bought my condo in 1999. At the time I was renting a one bedroom in the same town (maybe 2 miles away). I was able to get a two bedroom condo and pay less a month even when you added in the condo fee. A complete no-brainer. So I think at one time RE was actually a little undervalued in some instances. Problem was that prices kept going up and up and up to a point where prices were completely out of whack.  Finally it just reached a tipping point and the folks who got in late were left standing when the music stopped.
     
  10. You have chosen to ignore posts from scauma82. Show scauma82's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]In Response to Re: WHO REALLY CRASHED THE ECONOMY? : I remember when I bought my condo in 1999. At the time I was renting a one bedroom in the same town (maybe 2 miles away). I was able to get a two bedroom condo and pay less a month even when you added in the condo fee. A complete no-brainer. So I think at one time RE was actually a little undervalued in some instances. Problem was that prices kept going up and up and up to a point where prices were completely out of whack.  Finally it just reached a tipping point and the folks who got in late were left standing when the music stopped.
    Posted by lrecliner[/QUOTE]

    totally agreed. i think its a shame that a single person earning a decent salary can't realistically afford a one bedroom apartment in this town.
     
  11. You have chosen to ignore posts from Bill-806. Show Bill-806's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

          BARNEY FRANK..........  ADD IN PELOSI & THE CHICAGO WAY, ACORN, LIBERAL LEFT AND YOU HAVE THE "PERFECT STORM"  !!!!
     
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  13. You have chosen to ignore posts from giraffe-77. Show giraffe-77's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]The economic crash started in the housing sector. eh, debatable. you'd first have to ask why housing prices began to skyrocket, which was basically demand grew quicker than supply, then you'd have to ask why demand grew (and this is where it gets sticky) some people will say ARM's became more readily available, some would say bush encouraged banks to lend to low-income people, some might say banks got greedy and gave loans to people who they should've known couldn't afford them (mainly b/c said loans would be broken up and sold off), some might say people took out loans they knew they couldn't afford......it's probably a combination of all. i do get your point when you say it started in the housing sector, but things don't happen in vaccuum, there's always a cause and in effect.  the cause of the housing bubble was (probably) some combination of policy, corporate greed, and trying to keep up with the jones' while the effect was what we see today.
    Posted by scauma82[/QUOTE]

    It's just human greed.  G R E E D.  Short-sighted businessmen who came in and made their millions without any oversight from their own bosses.  Now if their own bosses weren't paying attention, the government will have to do that.  That mistake ruined free enterprise in the housing market.  They ruined it for all of us because now the government will have to take more control.  If only the leaders in the mortgage industry had any ethics, we wouldn't be in this mess of homeless people and more governmental control.  Thanks, you greedy azzholes.  Now my taxes have to go to more public services (due to the chaos they created) and also pay to bail their sorry azzes out of their self-created misfortune.

    If this country goes entirely socialistic, you can blame it on these few people who abused the free enterprise system.  They ruined it for all of us.  Hello, Comrade.
     
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  18. You have chosen to ignore posts from giraffe-77. Show giraffe-77's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE] Ltown1  sorry I missed your post some how, I also agree with you. Washington a bunch of prostitutes. Coakly changed her mind on Abortion?
    Posted by chiefhowie[/QUOTE]

    I agree with you both.  Congress is the Wohre.  But Wall Street is the John.  Who do you blame?  the temptor or the temptress.  It doesn't matter whose watch this happened under - Bush or Clinton.  I just wish free enterprise would regulate itself.  Then we wouldn't have to be in a mess like this
     
  19. You have chosen to ignore posts from scauma82. Show scauma82's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]They don't play with real money.  let me ask you this, if you  went into a store and they told you can pay after you get your pay next month (no charge) what would you do.....
    Posted by chiefhowie[/QUOTE]

    that's the very premise of store credit, of which a percentage they expect to be uncollectible also known as bad debt.
     
  20. You have chosen to ignore posts from scauma82. Show scauma82's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]In Response to Re: WHO REALLY CRASHED THE ECONOMY? : It's just human greed.  G R E E D.  Short-sighted businessmen who came in and made their millions without any oversight from their own bosses.  Now if their own bosses weren't paying attention, the government will have to do that.  That mistake ruined free enterprise in the housing market.  They ruined it for all of us because now the government will have to take more control.  If only the leaders in the mortgage industry had any ethics, we wouldn't be in this mess of homeless people and more governmental control.  Thanks, you greedy azzholes.  Now my taxes have to go to more public services (due to the chaos they created) and also pay to bail their sorry azzes out of their self-created misfortune. If this country goes entirely socialistic, you can blame it on these few people who abused the free enterprise system.  They ruined it for all of us.  Hello, Comrade.
    Posted by giraffe-77[/QUOTE]

    i think you'd be more apt to blame the system as opposed to a man or men. if you work in corp amer its easy to envision an upwards career path. unfortunately now days we have so many arbritrary, insignificant differences that we would never work together to actually effect change. i read a story about a company that is owned by its employees, i think that is a good start.
     
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  22. You have chosen to ignore posts from giraffe-77. Show giraffe-77's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]In Response to Re: WHO REALLY CRASHED THE ECONOMY? : I just wish free enterprise would regulate itself. ain't gonna happen. Remember the money changers in Christ time. a lot People will do what they can get away with. Just look at video games, what do they teach. It's All about culture.
    Posted by chiefhowie[/QUOTE]

    If it is part of human nature to steal and be conscienseless, how can we blame drug dealers and gangs?  How can we blame robbers and thieves?
     
  23. You have chosen to ignore posts from Bill-806. Show Bill-806's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    In Response to Re: WHO REALLY CRASHED THE ECONOMY?:
    [QUOTE]In Response to Re: WHO REALLY CRASHED THE ECONOMY? : If it is part of human nature to steal and be conscienseless, how can we blame drug dealers and gangs?  How can we blame robbers and thieves?
    Posted by giraffe-77[/QUOTE]  WE NEED TO SPEND MORE TIME TALKING TOO AND UNDERSTANDING THE EVIL OF THE WORLD.........  "SPREADING THE WEALTH" SHOULD CURE ALL !!!!
     
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  25. You have chosen to ignore posts from Ltown1. Show Ltown1's posts

    Re: WHO REALLY CRASHED THE ECONOMY?

    We're back to the classic Democrat vs. Republican debate.  

    Free enterprise needs to remain free.  Too much regulation can stifle and economy, but, when one group of bankers has the power to tank the economy single handedly, the Government is the only protection the people have. 

    Government much manage our economy to make sure we don't crash like we did last year.  It is avoidable, especially when you read about these credit default swaps.  

    Republicans preach deregulation, deregulation but you have to have some regulation in order to maintain some sort of security and stability.  
     
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