DISQUS

Bush_Bites · 1 year ago

Sounds like most of the customers who would get stiffed are those with accounts over $100,000.

Bush won't let the high rollers suffer; they'll get their money and Bush will just add it on to your grandkid's debt.

angryspittle · 1 year ago

Are we all ready??

Wheeeeeeeeeeeeee!!!!!!!!!!!!!!!

Here we go!!

Shannon · 1 year ago

And when you ain't got nothing, you got nothing to lose................

Hangtown Danile · 1 year ago

You have just gained an understanding of what freedom really is:
Nothing left to lose...

Bush_Bites · 1 year ago

That would be this Phil GRAMM:

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 L. No. 106-102, 113 Stat. 1338 (November 12, 1999), is an Act of the United States Congress which repealed the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies.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.

One of the effects of the repeal was to allow commercial and investment banks to consolidate. 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.

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley...

http://en.wikipedia.org/wiki/Glass-Steagall_Act

Indigo · 1 year ago

Do I have this right? IndyMac was the part of Countrywide that Bank of America did not buy? Doesn't this look like conspiracy economics we're contemplating here? Who benefits?

unrepentant_expat · 1 year ago

As in war: the vultures.

warbler · 1 year ago

Dick Cheney

Ben Dover · 1 year ago

IndyMac, Freddie and Fannie, Bear Stearns and that's just to name a few. In hardcore, realtime, layman's language, just how far are we from real, actual failure and economic depression?

OlderAndWiser · 1 year ago

Add Lehman Bros, too. And now, UBS; I read yesterday that they were having "problems."

None of these people know what they're doing--oh wait, yes they do.

And we pay.

unrepentant_expat · 1 year ago

"This "mental" problem that we're all whining about is sounding like it could possibly be the most expensive in US hisroty."

'His rotty ?
Freud would be proud.

lynchie · 1 year ago

just a reminder the Savings and Loan debacle brought to you be Reganomics which is what we have been following for the past 12 years cost us $500 Billion. No one went to jail, no one repaid loans, not a blessed thing happened to the criminals who started building our national debt. Neil Bush, Keating 5 any of these names ring a bell. Same deal, new dealers, no regulation, all insured, same result. Why not steal, government doesn't prosecute anyone. Meanwhile our grandchildren will be paying for this mess and the criminals will be in the gulf getting some rays and drinking Marguerita's. Explain that to your kids when there is no money to send them to college.

Bush_Bites · 1 year ago

Between McCain's role in the S&L debacle and Gramm's role in deregulating banks, you'd think the Dems would be able to put together a hell of a commercial.

unrepentant_expat · 1 year ago

Somethings do not condense into a simple sound bite and are forever lost on the American public.

Shannon · 1 year ago

Trouble is the Democrats have voted for it all and keep protecting the criminals by refusing to investigate, or if they investigate they refuse to convict, worst of all THEY ARE SHIELDING BUSHCO FROM IMPEACHMENT...why? Because we have a one party system.......have you noticed that any bill that would change things or regulate anything or hold someone accountable gets defeated by 3 votes. The game now is to count the votes before voting and then to make sure that it loses by 3 votes by selecting those who will cast opposing votes making sure of the numbers before hand so they can say, oh most of the Democrats voted against BushCo................that's to cover their ass and make it look like they are not all members of the same crooks club.

doug · 1 year ago

How much is the war in Iraq costing? Perhaps if we ended our military occupation of Iraq we could save our economy.

unrepentant_expat · 1 year ago

That amounts to raising the dead.

lynchie · 1 year ago

Estimate to date $1 Trillion, estimate after all troops are treated and health issues resolved $3 Trillion. Nice.

lemonyellow · 1 year ago

"It has to be embarrassing if not humiliating to see the work of a lifetime fall apart so rapidly."

I don't think so. Sociopaths don't recognize their own failures. Why he remains on board at UBS, I have no idea.

OlderAndWiser · 1 year ago

It's happening in Europe, too: http://www.bloomberg.com/apps/news?pid=20601213...

And Britain has its troubles as well.

Andrew · 1 year ago

this bail out will cost more than 4-8 billion for the US taxpayer. If both freddie as well as Fannie go into consvership, their total liability to the American tax payer will be 5 trillion dollars. As former fed Governor Poole said, both of their assets have fallen to a point where their liabilities are far higher and the total cost of the bail out would be in the range of 5T.

Ben Dover · 1 year ago

Is it still a few days early to call it the "Bush Depression"?

unrepentant_expat · 1 year ago

Now just because a bank landed on your chest doesn't mean you have to make that whining noise though your nostrils. Oh, and be a good boy and clean up that impact crater around you too, and stop calling it the Bush Depression too.

Joneses · 1 year ago

21 other banks are also on watch per the Feds.

Is this just greed and not caring about each other?

Even third world countries know that Bush & Co. went to Iraq for oil.

tbhull · 1 year ago

21? Your source? What banks?

Shannon · 1 year ago

Actually there are 90 banks on the trouble watch list.............it is just the beginning.

MNUSA · 1 year ago

Do the taxpayers fund the FDIC? I thought financial institutions paid premiums that funded it.

If I had over a $100,000 and lost money, I think I'd want to squeeze it out of their CEO, who made over $2.4 million last year, and the board of directors who oversaw the fiasco.

We are reaping the harvest of the Repub economic plan. Yet watch the hearings on C-Span (most recently the formaldahyde-soaked trailers for victims of Katrina) and you'll still see the Repubs bowing, scraping and worshipping before their corporate gods (who they represent so well). It's a lot like someone defending the pirates, instead of the people who were victimized.

lynchie · 1 year ago

I saw the asshole from San Diego complimenting the manufacturers and covering for them. I asked my wife why on earth anyone would cover up for criminals. Do your job for once. The only answer is what we all know. They have all been paid off by these same corporations and not only the Repubs. We are in a mess of our own making. We have allowed the politicians to set the rules, govern their own pay and benefits and we have no one to blame but ourselves because we have not been paying attention. We have been watching Idol, Project Runway and Survivor and hoping to win the Powerball twice a week. Which reminds me who accounts for all the Lottery money. I have never once seen one thing reported on what the money made has been used for. I guess it just gets paid out the the politicians.

Shannon · 1 year ago

Many of us are coming to this same conclusion..........who is to BLAME........the American people are, we have allowed the Democrats and Republicans to be a single party, no opposition, just a one party system of corporate crooks, we have allowed the oil companies to take over the military, the government to ignore us, the politicians to dupe us all, and then we go out and vote for the "lesser" of two evils..............no more, I as an American will never vote again for a "centrist" in the one party system..........from now on, I will only vote with protest votes until we get real change.......look at that traitor Obama, he deceived us into thinking he was a new kind of politician, but then he votes to support Bu$hCo and to eliminate the 4th Amendment, he kisses up to Israel who is destroying our country, he can't even support men staying out of woman's choices or talking down to the disadvantaged........he is no different from McInsane, at least with Hillary we know that she is somewhat a liberal........hope it is not too late to mess with Obama at the convention by showing overwhelming support for Hillary. She is the only one who can knock him off his one party agenda.

SarainKC · 1 year ago

Hillary and Bill owe their careers to the very lobbyists and Corp masters who own Republicans. I get your upset your candidate did not win the nomination, but get real. Hillary is a major player in the "establishment" that has robbed us blind for almost 3 decades. I personally wanted Edwards and miss him more with every centrist position Obama takes, but I am not going to act like a spoiled 2 year old and plan some huge public tantrum in the hopes of getting my way. Is a McCain Presidency really what you want? Get a grip, sister and get over yourself. We have a dangerous Republican to beat or we can kiss everything we believe in goodbye. God, I hate sore losers.

Shannon · 1 year ago

To set the record straight, I voted for Obama in the Hawaii caucus and no way am I sore about Hillary losing, my support for her at the Democratic convention is to encourage her to mess with Obama for messing with those of us who bought into his shit and supported him just to find out that he is a Republican lite........so get over yourself assuming you have all of the answers...........Hillary is the only one who can really screw with Obama and I love a good snake fight............these two people are just more of the same...............I am done with the Democrats..........Cynthia McKinney or Ralph Nader will be getting my protest vote............there is no difference in the Democrats or the Republicans............stop kidding yourself.

tbhull · 1 year ago

People get a bullet through their skulls daily for far less.

Õ¿Õ · 1 year ago

Way to go wingnuts. See, this is what happens when you vote against your own self interest. We tried to warn you. It's just a fucking goddamn shame we have to suffer, too, for your stupidity.

Busboy · 1 year ago

Is this the academy of dunces? Why don't you know how things work?

unrepentant_expat · 1 year ago

The slogan "Why don't you know how things work?" was placed at the entrances to a number of Nazi concentration camps "as a kind of mystical declaration that self-sacrifice in the form of endless labour does in itself bring a kind of spiritual freedom."

Busboy · 1 year ago

Sounds like BS to me...

Hangtown Danile · 1 year ago

"Work shall set you free."
I will never forget.

unrepentant_expat · 1 year ago

The meek shall inherent the earth...
http://www.picturehistory.com/images/products/0...

Busboy · 1 year ago

I think the word is "inherit". But, this is no time to be picky...

unrepentant_expat · 1 year ago

You might be right for once.

Busboy · 1 year ago

Let it ride, GG; your time is coming soon. The "Big Rock Candy Mountain" is just around the bend......

Busboy · 1 year ago

On the big rock candy mountain..
You never change your socks;
and little streams of alcohol
come trickling down the rocks...
etc.....

Õ¿Õ · 1 year ago

You voted for that thing twice. Now you act like you had nothing to do with it still dispensing idiotic nonsense.

unrepentant_expat · 1 year ago

Even if Rove had ratcheted up his tactics to that of Mugabe, I don't think I'd ever find myself voting for Bush.

Bush_Bites · 1 year ago

I was close to voting for Bush the first time, even though it was obvious from the debates that Gore was much smarter.

Thank God I decided to vote for Gore as I was walking to the polling place.

(Thing is, when Bush said we should be a "humbler" nation and not go around nation building...he made a lot of sense. Too bad he went nuts as soon as he got power. I also liked his CO2 trading plan, which he also killed once he got in office. But I always thought his Social Security privatization scheme was a plan to kill Social Security, which was one reason I ended up voting for Gore.)

Õ¿Õ · 1 year ago

It's a psychiatric disorder to wake up every morning, go to work and come back and vote republican.

lynchie · 1 year ago

That my friend is the definition of Insanity. The same assholes who are losing their shirts will vote for Republicans in November too.

Busboy · 1 year ago

It's a psychiatric disorder to wake up every morning and go to work! WTH are you thinkin?.....

Ben Dover · 1 year ago

The treasonous republicans should be arrested and their ill gotten gains forfeited to those from whom it was stolen. A life sentence to busting rocks in a Federal SuperMax facility is far, far too good for any of them.

Busboy · 1 year ago

Such vituperation from democrats and progressives! The people who care most for their ithr'en. Sounds like you guys just care about you're own self interest.

unrepentant_expat · 1 year ago

One tends to get a bit choked when coming upon the carcasses of a herd of bison that were gunned down because someone liked the tongues. This country is being brought down by greed.

Busboy · 1 year ago

It was your greed. You just didn't know it until you stopped getting your subsidized "bennies". Now you're just like the rest of us. Enjoy being out on your own w/o mother "gov" buying your ice cream for you...

jr · 1 year ago

"SCHIP is socialism. Bailouts are for national security"-repubs

dcredhead · 1 year ago

As usual when it comes to economic postings on this blog, you are incorrect, Chris. Taxpayers do not fund the FDIC. Congress does not fund the FDIC. It is completely 100% funded by premiums paid by banks.

Another example of how you do not even hold a candle to Joe, John and AJ. If you are going to write about the economy, at LEAST be factually correct.

Shannon · 1 year ago

But the "discount" window is being funded by taxpayer money in the end.............keep those printing presses chruning, can't give the suckers an even break............so save your money suckers, it won't be worth a shit when Bu$hCo and Berskankey get through reaming you..........

Hangtown Danile · 1 year ago

SOOOOOOOOOOOOOOOOOOOOOOOOO glad our loan is with a Credit Union.

So, we have Indimac and Fanny May in the shit.
What about Burrnie Mac?

Joneses · 1 year ago

What about Mac? In this reality, we will be, paying for money down fall? While, Corps. pay hmmmmmmmmmmmmmm, no taxes. WTF