-
Website
http://www.americablog.com/ -
Original page
http://www.americablog.com/2008/07/did-senator-schumer-cause-bank-failure.html -
Subscribe
All Comments -
Community
-
Top Commenters
-
Rob Mule
3337 comments · 78 points
-
Steve_in_CNJ
3410 comments · 788 points
-
tlsintx
4391 comments · 298 points
-
Indigo
5931 comments · 675 points
-
John Aravosis
2959 comments · 1001 points
-
-
Popular Threads
-
More about the Yule Goat
12 hours ago · 14 comments
-
Plane incident update
1 day ago · 29 comments
-
Obama now says he didn't campaign on the public option. The Google says he did, a lot.
3 days ago · 117 comments
-
Obama on the health insurance bill
2 days ago · 75 comments
-
How Barack Obama undermined the Obama presidency
5 days ago · 181 comments
-
More about the Yule Goat
"Our president goes to Japan four months before the election that will finally show him the door and says he's going to take global warming seriously," Clinton said. "Then as he's leaving the G-8 conference, says to people around him, 'Goodbye from the biggest polluter world in the world.' You've got to ask yourself, how did this happen to our country?"
Clinton said the last eight years had many "highlights."
"A vice-president who shoots somebody in the face, you couldn't make that up," Clinton said to laughter.
She added, "the Republicans should hold a press conference and apologize to the country and say they're just not going to run anyone for president."
http://blog.washingtonpost.com/the-trail/2008/0...
The GOP and its media cheerleaders are amazing. The GOP will blame anyone except their own leaders for the terrible direction the United States is headed toward.
Clinton is right about this. The GOP should admitt their mistakes and apologize to the voters.
It's about time she started attacking Repubs again.
For every 10 Kudlows read one William Engdahl.
Although federally chartered, both are private companies, owned by shareholders (and you can imagine who they are).
Since they didn't present any well-documented reasons, or any particularized plans for this bailout of the two $5 trillion dollar businesses which holds at least 50% of all mortgages, it will be hard to imagine that foreign countries might not start calling in their Federal Treasury notes.
Any way you slice it, disaster is approaching and it's not hard to imagine the US government being in bankruptcy very soon. I expect more runs on banks, a la IndyMac which was taken over by the FDIC last week.
Wingnuts, you'll never win another national or even local election if you don't stop with the warmongering, thievery, lying and hypocrisy.
This is a nation of twelve year olds obsessed with "Dancing with the Stars", homos getting married, and whether or not Anna Nicole Smith and Elvis are still dead.
The Great American Century ended on 12/31/1999. Our Sunday school picnic is over.
I have absolutely NO sympathy for greedhead investors who peddled this shit to the American public. Blaming individuals for the "education" they got from all sectors of the mortgage, real estate and other markets who lied, cheated and stole in this whole fiasco is just insane.
And it's not just those "subprime" mortgages that are being affected, even holders of standard mortgages are being hit by this thing--with all the layoffs, lack of decent paying jobs, high medical costs, etc., there are no alternatives for them; even bankruptcy filing doesn't work any more.
The American public has been screwed to the wall by "laissez faire" capitalism and the total greed it engenders. They haven't rested in stripping us of any assets we might have held (and for most Americans, it's their house).
The less I lose in this bank, the better. And it will be under $100, no matter what. At some point, will the FDIC be able to guarantee every depositor's money for accounts under $100K when they start to collapse like dominoes?
http://www.bloomberg.com/apps/news?pid=20601088...
http://www.globalresearch.ca/index.php?context=...
(Sorry, can't seem to get the link to work right.)
The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. L. No. 106-102, 113 Stat. 1338 (November 12, 1999), is an Act of the United States Congress which repealed the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.
Several economists and analysts have criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.[6][7] The 1933 Glass-Steagall Act separated commercial and investment banking after excessive risk- taking contributed to the Great Depression.
Never seen a bigger group of shysters and crooks in my life.
http://www.nytimes.com/2007/07/30/washington/30...
"Large Investor decided to pay a few bucks to a Senator in New York to force the issue."(Prospect Mortgage Backed By Sterling Fund--Private Equity Acquired The Mortgage Branches from Indymac before FDIC takeover)
http://www.housingwire.com/2008/07/03/regulator...
"And do remember that there are many investment bankers located in New York, making them pretty influential constituents of Sen. Schumer."
http://www.pasadenastarnews.com/opinions/ci_978...
"In a Sunday news conference, he said everything in his letter was already known to the public."
If it was already known to the public, what is the reason for his public letter? It is contradict to what he said previouly :"I just bring private message to the public. Do not kill the messanger." What a great liar from time to time!
http://www.cnn.com/2008/POLITICS/07/13/indymac....