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[blackangst1]

Originally posted by: miketheidiot
the fuck are you talking about, the only link in there is from vic.

Go back a page mikethe IDIOT

 

[fskimospy]

Originally posted by: blackangst1

Originally posted by: eskimospy

Originally posted by: Ocguy31
:music: Change change
Obama's gunna change
change change :music:


Oh, wait, the President or President elect doesnt control the stock market? You dont say?


Obama would have won even without the financial meltdown, but it would have been closer without it. Why do people think the President controls everything?

The president does have influence on the stock market through the policies he enacts. The president elect enacts no policies, so how could he?

Then again, you already knew that. Like I said before the election, now the standard right wing talking point will be "WHY ISN'T THE COUNTRY FIXED YET, IT'S BEEN TWO WEEKS ALREADY".

Example? Direct cause and effect?

Nevermind. I found the refrence to how Clinton sparked the beginning of the end of the housing meltdown.

Nevermind.

So you think the actions of the chairman of the federal reserve, appointed by the president, have no effect on the economy? The vast majority of the regulations covering business are not enacted by congress, but through the federal bureaucracy that is part of the executive branch, again controlled by the president. He has significant influence.

As far as your ridiculous BS about the CRA leading to the mortgage meltdown that has already been debunked more than a dozen times on here. It's a lie.

 

[blackangst1]

Originally posted by: eskimospy

So you think the actions of the chairman of the federal reserve, appointed by the president, have no effect on the economy? The vast majority of the regulations covering business are not enacted by congress, but through the federal bureaucracy that is part of the executive branch, again controlled by the president. He has significant influence.

Did you see the nevermind comment? Thanks for reading

Originally posted by: eskimospy
As far as your ridiculous BS about the CRA leading to the mortgage meltdown that has already been debunked more than a dozen times on here. It's a lie.

Debunked by those who want to believe their own debunking. By reading the link I provided, to assume that did not have significant effect on the housing market is naive. 100% fault? I never said that. I'll state what you failed to read before-Clinton simply, though his direct dealings and actions, opened the door to the mess we now know as the housing meltdown. Sure there were other factors, but it started there.

 

[sandorski]

I hope you don't do your own Investing.

 

[fskimospy]

Originally posted by: blackangst1

Originally posted by: eskimospy

So you think the actions of the chairman of the federal reserve, appointed by the president, have no effect on the economy? The vast majority of the regulations covering business are not enacted by congress, but through the federal bureaucracy that is part of the executive branch, again controlled by the president. He has significant influence.

Did you see the nevermind comment? Thanks for reading

Originally posted by: eskimospy
As far as your ridiculous BS about the CRA leading to the mortgage meltdown that has already been debunked more than a dozen times on here. It's a lie.

Debunked by those who want to believe their own debunking. By reading the link I provided, to assume that did not have significant effect on the housing market is naive. 100% fault? I never said that. I'll state what you failed to read before-Clinton simply, though his direct dealings and actions, opened the door to the mess we now know as the housing meltdown. Sure there were other factors, but it started there.

I assumed your 'nevermind' was sarcastic, I guess I was wrong though.

I think the evidence for the CRA being a very small part of the problem is pretty solid. Considering the scope of what was done completely outside of the government's influence, I feel like it's similar to blaming the guy who invented the house.

 

[blackangst1]

Originally posted by: sandorski
I hope you don't do your own Investing.

Why is that? Ive done extrmely well. Almost tripled my money from the 2002 crash, and up 22% from my purchases 90 days ago....its not rocket science....buy when its on sale hold it when its not.

 

[sandorski]

Originally posted by: blackangst1

Originally posted by: sandorski
I hope you don't do your own Investing.

Why is that? Ive done extrmely well. Almost tripled my money from the 2002 crash, and up 22% from my purchases 90 days ago....its not rocket science....buy when its on sale hold it when its not.

Ok, point taken. However, Ups and Downs like this have been going on for well over a Month and will likely continue for many more.

Unlike all the Righty sarcasm of "Obamessiah" and other sentiment, Obama really is just a Man and the Stock Markets really does have concerns beyond who gets Elected President.

 

[blackangst1]

Originally posted by: eskimospy

Originally posted by: blackangst1

Originally posted by: eskimospy

So you think the actions of the chairman of the federal reserve, appointed by the president, have no effect on the economy? The vast majority of the regulations covering business are not enacted by congress, but through the federal bureaucracy that is part of the executive branch, again controlled by the president. He has significant influence.

Did you see the nevermind comment? Thanks for reading

Originally posted by: eskimospy
As far as your ridiculous BS about the CRA leading to the mortgage meltdown that has already been debunked more than a dozen times on here. It's a lie.

Debunked by those who want to believe their own debunking. By reading the link I provided, to assume that did not have significant effect on the housing market is naive. 100% fault? I never said that. I'll state what you failed to read before-Clinton simply, though his direct dealings and actions, opened the door to the mess we now know as the housing meltdown. Sure there were other factors, but it started there.

I assumed your 'nevermind' was sarcastic, I guess I was wrong though.

I think the evidence for the CRA being a very small part of the problem is pretty solid. Considering the scope of what was done completely outside of the government's influence, I feel like it's similar to blaming the guy who invented the house.

But Clinton et al seriously deregulated the market. I suggest you read this as an outline..

By 1995, the subprime loan market had reached $90 billion in loan volume, and it then doubled over the next three years. Rising loan volume led to a significant deterioration in loan quality. Meanwhile, by March 1998, the number of subprime lenders grew from a small handful to more than fifty. Ten of the twenty-five largest subprime lenders were affiliated with federally chartered bank holding companies, but federal bank regulators remained unconcerned.

In 2000, Edward Gramlich, a Federal Reserve governor, proposed to Greenspan that the Fed use its discretionary authority to send bank examiners to the offices of such lenders. But Greenspan was opposed and Gramlich never brought his concerns to the full Federal Reserve Board.

As early as 1997, there were concerns about the growth of collateralized debt obligations (CDOs), derivatives that pooled together millions of subprime mortgages and divided their income streams in complex ways. Rather than reducing risk, the process of securitization served to increase risk throughout the financial system.

The Federal Reserve has a long history of imposing margin requirements (minimum down payments) on lending for the purchase of securities on major exchanges. Regulations G, T, and U gave the Fed important tools in containing stock-market speculation. But with Clinton in the White House and Robert Rubin as his treasury secretary, Greenspan felt no pressure to raise margin requirements even as the stock market bubble reached new heights. Instead, Clinton reappointed Greenspan as Federal Reserve chair in early 2000, about six months before Greenspan?s term was due to expire, and apparently without first discussing margin requirements or any other Federal Reserve policy with Greenspan.

By Clinton?s final year in office, the price-earnings ratio on technology stocks reached historic peaks and the level of margin debt borrowed from New York Stock Exchange (NYSE) member firms had risen to the highest percent of market value in twenty-five years. The last time the country had purchased so much stock on borrowed money was September 1987, one month before the Dow Jones Industrial Average fell 23 percent in one day.

THE CLINTON administration?s free-market program culminated in two momentous deregulatory acts. Near the end of his eight years in office, Clinton signed into law the Gramm-Leach-Bliley Financial Services Modernization Act of 1999, one of the most far-reaching banking reforms since the Great Depression. It swept aside parts of the Glass-Steagall Act of 1933 that had provided significant regulatory firewalls between commercial banks, insurance companies, securities firms, and investment banks.

 

[blackangst1]

Originally posted by: sandorski

Originally posted by: blackangst1

Originally posted by: sandorski
I hope you don't do your own Investing.

Why is that? Ive done extrmely well. Almost tripled my money from the 2002 crash, and up 22% from my purchases 90 days ago....its not rocket science....buy when its on sale hold it when its not.

Ok, point taken. However, Ups and Downs like this have been going on for well over a Month and will likely continue for many more.

Unlike all the Righty sarcasm of "Obamessiah" and other sentiment, Obama really is just a Man and the Stock Markets really does have concerns beyond who gets Elected President.

And to that we agree 100%

 

[Chadder007]

Oh Snap...down another 350 today so far!

 

[Craig234]

Originally posted by: eskimospy
Amazing. Someone is actually asking why on the day after a new president is elected, news websites are covered with news about the new president being elected.

FYI, that got a literal LOL.