Jon Stewart - Scott Walker tells teachers the gravy train is over

[BoberFett]

Maybe if you big government loving dipshits would stop sending more and more money to Washington where it gets flushed away on wars or distributed to politically connected fat cats, local government could afford to raise taxes and pay teachers, police, and firemen better wages.

On second thought, nah, why do that. Let's keep sending 20% of GDP to the feds. They've shown how responsible they are with it.

 

[The-Noid]

When you borrow from someone, someone is lending to you. Do you understand the meaning of words? Obviously not.

If the banks were getting treasury securities, for liquidity, and they were allowed to post illiquid crap, that's a bad deal for the rest of us.

You're close but you still don't have the definition of securities lending 100%, there is one key point you are missing. To the interwebz!

I agree on the bad deal however but still not a 0% loan.

 

[Gonad the Barbarian]

Cribs: Teacher Addition
http://www.hulu.com/watch/223088/th...crisis-in-dairyland-apocalypse-cow#s-p1-sr-i1

Gotta snag me one of those teachers so I can marry rich!

 

[Phokus]

You're close but you still don't have the definition of securities lending 100%, there is one key point you are missing. To the interwebz!

I agree on the bad deal however but still not a 0% loan.

I don't see what incentive multiple people have to lie about 0% or .00whatever% since they're both infinitesimally small. In any case, at least agree that there is more to the bailouts/loan than just Tarp, the Federal reserve program you posted, and that Wall Street got a really sweet deal on any bailout or loan they got (and in many cases profited from it), that's the overarching thing that's being argued and fractions of a percentage point don't really change that.

 

[OrByte]

Nice video coming from the Fox news retards.

Wow they should be ashamed of themselves, throwing the hard working middle class TEACHERS to the wolves while attempting to protect wall street millionaires.

disgusting.

 

[The-Noid]

I don't see what incentive multiple people have to lie about 0% or .00whatever% since they're both infinitesimally small. In any case, at least agree that there is more to the bailouts/loan than just Tarp, the Federal reserve program you posted, and that Wall Street got a really sweet deal on any bailout or loan they got (and in many cases profited from it), that's the overarching thing that's being argued and fractions of a percentage point don't really change that.

Everyone got a bailout and the majority of things that happened prior to the crisis should never have happened. 30 year mortgages should not have become the norm, securitization of everything should not have become the norm and ultra accommodative monetary policy should not have become the norm. The lessons of leverage/derivatives should have been learned post LTCM and not been repeated by the entire banking system 10 years later.

The 0% more just bugs me because to me 0% implies no interest and failure from an economic standpoint as a central bank. The point was more that the central bank charged "economic rent" on every transaction even if it was a minuscule amount. Debate the way everything was handled all day and looking back many things could have been changed, however 2.5 years later we didn't go over the precipice and the economy may or may not be an improving but hasn't contracted as it would under a bank collapse, albeit with significant monetary and fiscal medicine.

I don't think anyone can say what the job of a central bank is in crisis, it is a hard case to make. I would argue that our CB did a poor job of being "seen but not heard" during the Greenspan Era and over control at that point, however whose job is it to let everything collapse? Many of the emergency programs were definitely needed, now however regulation needs to occur so it never happens again. I don't think it would be the end of the world either if the Fed simply stopped attempting to play such a large role in the economy, post crisis, however if anything the crisis has cemented the Federal Reserve with a role in the economy for years to come (or a collapse before) due the gigantic balance sheet that will unwind over years.

 

[Phokus]

Everyone got a bailout and the majority of things that happened prior to the crisis should never have happened. 30 year mortgages should not have become the norm, securitization of everything should not have become the norm and ultra accommodative monetary policy should not have become the norm. The lessons of leverage/derivatives should have been learned post LTCM and not been repeated by the entire banking system 10 years later.

The 0% more just bugs me because to me 0% implies no interest and failure from an economic standpoint as a central bank. The point was more that the central bank charged "economic rent" on every transaction even if it was a minuscule amount. Debate the way everything was handled all day and looking back many things could have been changed, however 2.5 years later we didn't go over the precipice and the economy may or may not be an improving but hasn't contracted as it would under a bank collapse, albeit with significant monetary and fiscal medicine.

I don't think anyone can say what the job of a central bank is in crisis, it is a hard case to make. I would argue that our CB did a poor job of being "seen but not heard" during the Greenspan Era and over control at that point, however whose job is it to let everything collapse? Many of the emergency programs were definitely needed, now however regulation needs to occur so it never happens again. I don't think it would be the end of the world either if the Fed simply stopped attempting to play such a large role in the economy, post crisis, however if anything the crisis has cemented the Federal Reserve with a role in the economy for years to come (or a collapse before) due the gigantic balance sheet that will unwind over years.

There's really nothing wrong with 30 year mortgages, it's the fact that you could so easily pass the loans like a hot potato. There's incentive to commit fraud and not have stringent mortgage applications when you're giving the loan to someone else (and they give the loan to someone else). Bring back the days when banks were partnerships (not public companies) and bank presidents had significant equity in the banks they owned. The role of the Fed should have been to do something like the Sweden example (rather than the relatively no-strings-attached money we were giving out) and clean up the balance sheet. But it's not just the Fed, but also the 'police' (the SEC) needs to prosecute wrongdoing. And also good regulation (maybe like Canada's). It's really not rocket science.