Here is a question for the left wing college elite

I doubt there is a college that would admit you. But go ahead and make believe if it makes you feel good.

 

like Gramm-Leech-Bliley. That kind of economic reform ?
Yeah, repealing Glass-Steagall was a real winner for the economy.

 

Lying to me? I don't take people's words for things. I judge with my own discernment. Perhaps you should demonstrate the statistics you claim supports a narrative that contradicts what I've now plainly explained to you three times now.

Non sequitur. We're discussing what drove prices sky high - and it certainly wasn't people losing their jobs.

You created your own delusion. I never said a thing like that.

Your bloviation regarding Kansas totally aside - if you want to discuss it, take it up in the thread which discusses Kansas, and contradicts your nonsense - look at Wisconsin if you want to understand how a Conservative ideology corrects liberal screw ups.

 

Really? Clinton deregulated the banks by repealing Glass-Steagall and in the waning days of his Administration signed Commodity Futures Modernization into law, leaving it to the Bush Administration to incorporate the rules in the CFRs. Those two Clinton era laws did all the deregulation ,,, then Cuomo put the economy on a slippery slope.

You watched too much Hillary. She lied like a cheap rug

 

He got the figure the same way many plumbers do their job, he extracted it from an area both difficult to get at and unlikely to be sought after though in his case I believe the process would require few heavy tools.

 

Yes, at the urging of Alan Greenspan, the mastermind of the Republican economic platform since the days of Reagan. Greenspan admitted before Congress that his model had failed. And that is largely what led to the crash.

Clinton was called the best Republican the Democrats had ever produced. Now he is accused of being a lefty. I supported Clinton in part because I still believed in the now debunked Ayn Rand Libertarian economic model - the discredited model Rs still cling to with their guns and bibles. He was following the R platform!!!

What we learned is that markets will not regulate themselves. Or to be more accurate, they will but we can't survive the corrections! Markets must be regulated. Market discipline is a fantasy. Paulson admitted that when he supported the bail out.

 

re-read my post and the one I replied to.

Rubin authored it, Clinton signed it.
Clinton and Rubin also fired Brooksley Borne when she blew the whistle on the dangers of the banks' fast accumulating derivatives positions.

 

No, I don't think $46k is a high salary at all, I provided that figure because I figure any high school graduate with the attitude and intelligence to get into college, applying himself would easily reach general manager position at McDonalds in 4 years, and that would be his salary. Then, with the money saved from college tuition, and four years experience at McDonalds he could easily and profitably run his own McDonalds franchise, which probably would improve his income.

In my scenario you've got one individual with 4 years of solid work experience wisely investing about $128k to own and operate a franchise, and another individual with 4 years of safe-spacing, triggering, controversy-banning snowflakism, plus a highly marketable degree applying for an internship.

 

Ah, so you limit college studies to only the bolded areas? Lol

Trust me, you'll learn more going to college than sitting around drinking beer and watching a car make a left turn for 3 hours.

 

Most residential AC failures are starting capacitors on the compressor, followed closely by deteriorating evaporators that have leaked freon. Knowing the thermodynamics of a heat pump won't help you diagnose either of these.

 

Berkley

 

When I was a Pilebutt (works in a crew that drives piling to carry very heavy weight) often teachers would show up during the summer to make some high wages. I guess it gave them a whale of a boost to income.

 

I helped my father with residential air conditioners and auto air conditioners all through high school. Then I went to college and learned about engineering physics and thermodynamics. None of the courses taught me what a receiver/drier was in an auto AC system. None of hem taught me that you needed to pull vacuum on a system for a certain period of time to make sure all moisture has been removed after replacing a compressor. None of the courses taught me what a Schraeder valve is.

You can take all the university physics and thermodynamic courses you want and none will actually prepare you to fix a real-life AC system.

 

If you'll actually study the issues instead of just repeating tired, old Marxist Democrat talking point lies you'll find that most analysts don't actually think the repeal of Glass-Steagall actually caused anything. The large commercial banks were already finding alternatives to get around Glass-Steagall.

 

Do you have any proof for that statement? It reads like something invented out of thin air and believed without proof. There seems to be little value place on critical thinking these days.

 

Really? We didn't survive financial market corrections of 2008/2009? News to me! That correction was over and in recovery when all the liberal *market regulation" made sure the recovery died on the vine!

 

Critical thinking is SKILL. It can be taught and it can be learned. It has nothing to do with information memorization in a specific field of study.

If your critical thinking skills have not progressed after four years of college that tells me that the school let you down badly!

Did you even bother to look at the example question from the test?

 

1. My credit union has *never* required me to carry full coverage insurance on any loan for a car or motorcycle. Never. I have done so purely for *my* benefit if something happened.
2. PIM does *not* cover defaults on the mortgage for inability to pay the loan. If you had ever had a home loan you would know this.

The statistic you were given invalidates your claim here. Most of the foreclosures were for inability to pay, not for being upside down on the mortgage.

Why would you pay on a mortgage that was more than the house was worth? Because you committed to the loan. Because it is a *home*, a place where you *want* to live. For a brief time my house was worth less than the mortgage during the dot.com bust. I never, not once, considered just walking away from the loan. It's called integrity and values.

It's been my home for 32 years. I think I'll stay!

 

I'm a libertarian. About as small government/personal liberty as you can get.

Most analysts were wrong on 2007.
Who are these analysts and what data supports their arguments?

The banks were getting around not using commercial deposits for for investment bank purposes, that is trading? Exactly how were they doing that.

It was a Clinton bill. Why would trashing it be a Democrat talking pt?. BTW, Trump spoke of reinstating glass steagall during the campaign.

The banks failed and we're bailed out to the tune of trillions by the FED. About as big gov, collectivist as it gets. Why would me not supporting this big government bullshit be reiterating Marxist talking points? Makes no sense

 

What makes you think you couldn't get a similar loan from a local bank if the government allowed you to do so?

The only difference between the old bank loans and the stafford loans are the repayment promises.

 

The use of the repeal of G-S was an *excuse* used by the Democrats to keep from having to face up to the real causes of the financial problems - which the Marxist Democrats caused by trying to equalize outcomes and redistribute wealth.

The real causes range from no qualification requirements to obtain a mortgage, to rating agencies who did not properly rate mortgage securities, and the binge by local banks and lending institutions of creating mortgage securities in order to peddle more mortgages to keep Bill Clinton and Janet Reno happy!

Think about it! Who suffered worst during the housing bubble collapse? Most of the big banks recovered within months and repaid their loans *with interest*. The smaller banks, not heavily involved in commercial *and* investment banking were the ones that suffered, Bear Stearns and Lehman. AIG suffered not because of holding toxic securities but because of writing so many insurance polices on them!

What did the repeal of G-S have to do with Bear Stearns and Lehman?

Remember, not a single bank lost *any* commercial bank deposits or customer deposits. No one was told they couldn't take their money out of those banks and put it somewhere else. (actually I think there was a Clinton associate that got in trouble for using customer money to play with but he got off scott free)

Do you understand that Goldman-Sachs didn't actually need the TARP loan but was forced by the government to take it so the government wouldn't look so bad by loaning money to all the other banks?

Clinton helped cause the housing bubble by using Janet Reno to threaten the federal banks if they didn't make enough sub-prime loans and by forcing Franklin Raines at Fannie to remove all loan qualification requirements for the sub-prime loans. Glass-Steagall didn't actually cause much of anything!

 

Thank you for admitting that you cannot provide a single shred of credible substantiation for your inane extremist alt right allegation.

 

The Wall Street Casino funded mortgage lenders were not required to have PMI for the toxic subprime predatory loans that they were pushing.

http://www.pbs.org/newshour/making-sense/why-didnt-the-private-mortgage/

This was all made possible by the GOP DEREGULATION of the financial sector.

 

Very well put.

The academics you get your opinions from do the same thing.

They study an issue and then tell us what they think about it

Which is ok for libs like you because they always tell you what you want to hear

 

Cannot and will not are two different things

You are beyond saving and not worth my time to try