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#2601895 - 02/05/17 10:48 AM Re: Finally! Reforms coming to the financial markets [Re: ifallalot]
Autoprax Online   content
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Registered: 01/24/11
Posts: 15164
Loc: Vagina Point
Originally Posted By: ifallalot
Originally Posted By: Autoprax
Fox is in the hen house.

Were the banks not making money in the last 8 years?

That is why they need to be deregulated?


Oh yeah because if they are deregulated all of that money they're saving will trickle down roflmao


Some one will be needed to wash their G450s.
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#2601963 - 02/05/17 02:03 PM Re: Finally! Reforms coming to the financial markets [Re: the janitor]
test_article Offline
Miki Dora status
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Registered: 09/25/09
Posts: 4780
Loc: Body of Christ, Texas
That's right, get all wrapped around the axle when the EO doesn't even mention Dodd-Frank.

https://www.whitehouse.gov/the-press-off...g-united-states

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#2602223 - 02/06/17 12:33 PM Re: Finally! Reforms coming to the financial markets [Re: ifallalot]
StuAzole Offline
Miki Dora status
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Registered: 01/22/16
Posts: 3735
Originally Posted By: ifallalot
Of course you feel like this

Consumers are all that matter. Anything else is a service for consumers and should be treated as such.

Your tax dollars went to save businesses that literally exist to separate you from your money. That's like paying someone to rob you


Which ones? I borrowed what I could afford. I have paid every mortgage payment I've ever had due. I've lost no homes, I've lost no cars. If people can't make good decisions for themselves, that's nobody's fault but their own.

And for the sake of consistency, I take the same personal responsibility on most of my politics. Drugs, abortion, gay marriage, whatever. Let people live their lives and stay out of their business. Government's focus should only be on keeping the country safe and our infrastructure up to date. Anything else is a waste of resources.


Edited by StuAzole (02/06/17 12:54 PM)
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#2602271 - 02/06/17 02:04 PM Re: Finally! Reforms coming to the financial markets [Re: ifallalot]
MJOJunkie Offline
Michael Peterson status
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Registered: 01/03/15
Posts: 3232
Loc: Socal Bight
Originally Posted By: ifallalot
Originally Posted By: Autoprax
Fox is in the hen house.

Were the banks not making money in the last 8 years?

That is why they need to be deregulated?


Oh yeah because if they are deregulated all of that money they're saving will trickle down roflmao


Regulation is absolutely necessary but the PTB have convoluted it so horribly that it has become nothing more than politicians getting together and circle jerking, literally.

Long read but for those who have opinions - opinions are like assholes - everyone has one..not everyone does the hard reading, work and research to form a worthwhile opinion.



https://imprimis.hillsdale.edu/the-case-for-repealing-doddfrank/
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#2602274 - 02/06/17 02:09 PM Re: Finally! Reforms coming to the financial markets [Re: MJOJunkie]
MJOJunkie Offline
Michael Peterson status
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Registered: 01/03/15
Posts: 3232
Loc: Socal Bight
Before you ignorantly conclude that this is horribly ideologically biased ... Ya the left are to blame for perpetually horrible policy errors...but the right have just as much culpability

Quote:
Exactly this happened in the period leading up to the 2008 financial crisis, again as a result of the governments housing policies. Only this time, as Ill describe, the governments policies were so pervasive and were pursued with such vigor by two administrations that they caused a financial crisis as well as the usual cyclical housing market collapse.

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#2602575 - 02/06/17 11:58 PM Re: Finally! Reforms coming to the financial markets [Re: the janitor]
BillyOcean Offline
Nep status
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Registered: 01/06/17
Posts: 892
I never bought the argument that the bubble was the result of govt housing policies

It was just a bubble

There have been all kinds of asset bubbles throughout history

People get too excited and think they've found free money

It just happens

It's a feature of markets

It wasn't just engineered by bankers or GSEs or any particular group

It just happened and it will happen again

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#2602585 - 02/07/17 12:33 AM Re: Finally! Reforms coming to the financial markets [Re: BillyOcean]
MJOJunkie Offline
Michael Peterson status
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Registered: 01/03/15
Posts: 3232
Loc: Socal Bight
Originally Posted By: BillyOcean
I never bought the argument that the bubble was the result of govt housing policies

It was just a bubble

There have been all kinds of asset bubbles throughout history

People get too excited and think they've found free money

It just happens

It's a feature of markets

It wasn't just engineered by bankers or GSEs or any particular group

It just happened and it will happen again


You just proved to anyone reading this thread that you're not smarter than a bag of petrified dicks
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Wisdom is knowing what to do next, skill is knowing how to do it, and virtue is doing it

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#2602647 - 02/07/17 10:15 AM Re: Finally! Reforms coming to the financial markets [Re: MJOJunkie]
Sharkbiscuit Offline
Michael Peterson status
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Registered: 08/06/03
Posts: 3397
Loc: Jacksonville Beach
Originally Posted By: MJOJunkie
Originally Posted By: BillyOcean
I never bought the argument that the bubble was the result of govt housing policies

It was just a bubble

There have been all kinds of asset bubbles throughout history

People get too excited and think they've found free money

It just happens

It's a feature of markets

It wasn't just engineered by bankers or GSEs or any particular group

It just happened and it will happen again


You just proved to anyone reading this thread that you're not smarter than a bag of petrified dicks


It boggles the mind that you of all people think you have room to talk.

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#2602648 - 02/07/17 10:17 AM Re: Finally! Reforms coming to the financial markets [Re: MJOJunkie]
Sharkbiscuit Offline
Michael Peterson status
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Registered: 08/06/03
Posts: 3397
Loc: Jacksonville Beach
Originally Posted By: MJOJunkie
Originally Posted By: ifallalot
Originally Posted By: Autoprax
Fox is in the hen house.

Were the banks not making money in the last 8 years?

That is why they need to be deregulated?


Oh yeah because if they are deregulated all of that money they're saving will trickle down roflmao


Regulation is absolutely necessary but the PTB have convoluted it so horribly that it has become nothing more than politicians getting together and circle jerking, literally.

Long read but for those who have opinions - opinions are like assholes - everyone has one..not everyone does the hard reading, work and research to form a worthwhile opinion.



https://imprimis.hillsdale.edu/the-case-for-repealing-doddfrank/


Yeah, that author is a moron.

When someone bets $100 and they have $1, and you go to collect, this is what it sounds like.

"It was the government's fault. Wahhhh. They made me make margin bets on specific asset classes. Wahhhhh."

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#2602654 - 02/07/17 10:34 AM Re: Finally! Reforms coming to the financial markets [Re: the janitor]
Sharkbiscuit Offline
Michael Peterson status
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Registered: 08/06/03
Posts: 3397
Loc: Jacksonville Beach
The FHA made us do it. Pay no attention to the margin gambling. That's not the culprit! Look at how much higher Prime's snafus were! It's not like banks and borrowers thought the housing price would keep going up, and then the most trustworthy borrowers said screw it and walked.





Edited by Sharkbiscuit (02/07/17 10:35 AM)

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#2602689 - 02/07/17 11:42 AM Re: Finally! Reforms coming to the financial markets [Re: Sharkbiscuit]
test_article Offline
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Registered: 09/25/09
Posts: 4780
Loc: Body of Christ, Texas
...and with inadequate cash reserves. You'd think the executives of those banks especially would've known better.

The nonperforming mortgages alone wouldn't have caused the meltdown because the real estate was still available to make debt holders whole again.

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#2602726 - 02/07/17 12:39 PM Re: Finally! Reforms coming to the financial markets [Re: MJOJunkie]
the janitor Online   mad
Phil Edwards status
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Registered: 03/28/03
Posts: 6860
Loc: north of the bridge
Originally Posted By: MJOJunkie


Regulation is absolutely necessary but the PTB have convoluted it so horribly that it has become nothing more than politicians getting together and circle jerking, literally.

Long read but for those who have opinions - opinions are like assholes - everyone has one..not everyone does the hard reading, work and research to form a worthwhile opinion.



https://imprimis.hillsdale.edu/the-case-for-repealing-doddfrank/


tl:dr - "It is not at all clear that what happened in 2008 was the result of insufficient regulation or an economic system that is inherently unstable. On the contrary, there is compelling evidence that the financial crisis was the result of the governments own housing policies. These in turn, as we will see, were based on an ideastill popular on the political leftthat underwriting standards in housing finance are discriminatory and unnecessary. In todays vernacular, its called opening the credit box. These policies, as I will describe them, were what caused the insolvency of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, and ultimately the financial crisis."

Dude skips past the securitization of loans and absolute fcukery of the "rating" agencies etc. then says he doesn't like Dodd-Frank - without giving any details about why he doesn't like it.

I'm sure Dodd-Frank missed the mark in many cases, given the authors. But President Trump apparently wants to do away with things like Fiduciary responsibility etc. as described earlier in the thread. With no mention on his part of a replacement or renewed emphasis on enforcement of the remaining standards on the books. Not winning.

I want this guy to head the SEC and hire a bunch of his crew, it'd take him about 8 months to set a new tone



Edited by the janitor (02/07/17 12:40 PM)
Edit Reason: muddled context

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#2602731 - 02/07/17 12:44 PM Re: Finally! Reforms coming to the financial markets [Re: the janitor]
GWS Offline
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Registered: 01/11/02
Posts: 39444
Loc: Dustopia
It's nice to see that so many people believe in Santa Claus.

dancing
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#2602751 - 02/07/17 01:04 PM Re: Finally! Reforms coming to the financial markets [Re: the janitor]
ifallalot Offline
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Registered: 12/17/08
Posts: 41066
Loc: HB, CA
C H O P
H
O
P
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#2602754 - 02/07/17 01:06 PM Re: Finally! Reforms coming to the financial markets [Re: Sharkbiscuit]
MJOJunkie Offline
Michael Peterson status
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Registered: 01/03/15
Posts: 3232
Loc: Socal Bight
Originally Posted By: Sharkbiscuit
Originally Posted By: MJOJunkie
Originally Posted By: BillyOcean
I never bought the argument that the bubble was the result of govt housing policies

It was just a bubble

There have been all kinds of asset bubbles throughout history

People get too excited and think they've found free money

It just happens

It's a feature of markets

It wasn't just engineered by bankers or GSEs or any particular group

It just happened and it will happen again


You just proved to anyone reading this thread that you're not smarter than a bag of petrified dicks


It boggles the mind that you of all people think you have room to talk.


I'm going to channel my inner fecal face here...

Shrakbiscuit you continue to show that you are as dumb as a box of rocks or a bag of dicks or whatever.

Not only dumb but biased too. Dumb and biased. You need to go to remedial bag of dicks school. That could help you. Maybe poke loser
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