"Dave" wrote in message
...
On Tue, 16 Sep 2008 17:13:48 -0400, Gogarty
said:

How do you say "Glass/Steagall?" Outmoded? No longer relevant to the
modern
world? Ha!

Please explain how repeal of Glass-Steagall is responsible in any way for
the current mortgage problems.


First or Second Act? There's probably no direct linkage, but as I recall,
they were interested in protecting the economy from speculation that
resulted from large commercial banks collapsing. I'm thinking second, since
the first was more about insuring deposits... again, all recollection, so I
could have it backwards.

--
"j" ganz @@
www.sailnow.com

"Wayne.B" wrote in message
...
On Tue, 16 Sep 2008 16:00:44 -0700, Gordon wrote:

For years people have been whining that they couldn't buy houses
because they didn't have good enough jobs, if they had jobs at all. So
credit requirements were loosened and loosened by our illustrious
govmint so ALL could buy houses. So much for socialism.

The government does not set credit standards for lending, at least not
in the US.



Yep, this was good ole market forces at work. This is *why* we need more
regulation.

--
"j" ganz @@
www.sailnow.com

Molesworth wrote in news:ukmole-
:

*Someone* dreamed up this sub-prime crap, and with some forensic
accountancy, they can be found, but it won't be done because it will
tread on too many toes.



As with every recession and depression since 1913, all this lays at the
feet of the seat of real power in the USA....The Federal Reserve Private
Secret Bank Corporation, which has as much to do with the Federal
government as Federal Express.

The multitrillionaire bankers and their minions of the FED are at the
heart pulling these strings as they have done starving billions of
people across the planet for nearly 100 years.

Everything points up to the flushing point of the CENTRAL BANKS....

The Federal Reserve
The Bank of England and it's privately owned little private country-in-
a-country in Downtown London most people outside England don't even know
about
The Bank of (put your favorite country here)

These are all PRIVATELY RUN CENTRAL BANKS!

They decide who wins and who hangs......or should hang.

The seat of all this trouble is the same as it has been for nearly 100
years.....FRACTIONAL BANKING...allowing a bank to lend out TEN TIMES as
much money as it really controls. It caused the collapse in 1929. It
will cause another collapse quite soon, it looks like now.

Even Congress can't bull**** Americans into taxing their way out of this
mess. The whole country is BANKRUPT!

I keep seeing very intelligent money managers making noises about a
quiet run on the banks is in progress. I won't let them control what
little I have.....no thanks!

" wrote in news:0f11fc22-11da-4d07-
:

The distance between what consumers can afford and
what producers need to sell has every increasingly been bridged with
consumer credit.

I've been watching the hyping of the Chevrolet Volt electric car due in
2010. GM bureaucrats, who killed the EV1 everyone loved because the
dealers pitched a fit over its high quality leaving them little service
pots, actually think Americans are going to pay OVER $30,000 for a car that
will go 40 miles a day on a battery pack that costs $12,000 TO REPLACE!

What's wrong with them? Americans won't buy that crap!

Larry wrote:
" wrote in news:0f11fc22-11da-4d07-
:

The distance between what consumers can afford and
what producers need to sell has every increasingly been bridged with
consumer credit.

I've been watching the hyping of the Chevrolet Volt electric car due in
2010. GM bureaucrats, who killed the EV1 everyone loved because the
dealers pitched a fit over its high quality leaving them little service
pots, actually think Americans are going to pay OVER $30,000 for a car that
will go 40 miles a day on a battery pack that costs $12,000 TO REPLACE!

What's wrong with them? Americans won't buy that crap!


Oh?
G

On Wed, 17 Sep 2008 01:37:54 +0000, Larry wrote:

" wrote in news:0f11fc22-11da-4d07-
:

The distance between what consumers can afford and
what producers need to sell has every increasingly been bridged with
consumer credit.

I've been watching the hyping of the Chevrolet Volt electric car due in
2010. GM bureaucrats, who killed the EV1 everyone loved because the
dealers pitched a fit over its high quality leaving them little service
pots, actually think Americans are going to pay OVER $30,000 for a car that
will go 40 miles a day on a battery pack that costs $12,000 TO REPLACE!

What's wrong with them? Americans won't buy that crap!

Why not? They've been buying Chevrolet crap for years.

"Dave" wrote in message
...
On Tue, 16 Sep 2008 16:32:27 -0700, "Capt. JG"
said:

First or Second Act?

Those of us who don't have to Google it refer to only one law as the
Glass-Steagall Act.

There's probably no direct linkage, but as I recall,
they were interested in protecting the economy from speculation that
resulted from large commercial banks collapsing. I'm thinking second,
since
the first was more about insuring deposits... again, all recollection, so
I
could have it backwards.

I think this is one you ought to leave to others.


Really. I didn't know you were the expert in all things financial. You and
George make quite a pair! I mean McCain or Carly. Sorry.

--
"j" ganz @@
www.sailnow.com

"Dave" wrote in message
...
On Tue, 16 Sep 2008 16:38:19 -0700, "Capt. JG"
said:

Yep, this was good ole market forces at work. This is *why* we need more
regulation.

I deal with bank regulators, both federal and State, all the time, Jon.
Believe me, you don't want those people running banks any more than they
do
now.


They could not make things worse. The market by itself will correct, but as
we've seen in every situation when that's been tried, horrible consequences.
This, of course, is the neo-con wet-dream.... an unfettered market. They
almost got Pinochet to do it, tried in Poland and Russia, but those pesky
people just wouldn't cut off their noses to spite their faces.

--
"j" ganz @@
www.sailnow.com

"Dave" wrote in message
...
On Tue, 16 Sep 2008 16:00:44 -0700, Gordon said:

So
credit requirements were loosened and loosened by our illustrious
govmint so ALL could buy houses. So much for socialism.

Give the man an E for effort. The gummint doesn't set credit requirements
for mortgagors, Gordon. Mortgage lenders and those to whom they sell the
mortgages set those requirements.


Therefore, according to Dave, we should remove even more regulation! I get
it!

--
"j" ganz @@
www.sailnow.com

"Larry" wrote in message
...
As with every recession and depression since 1913, all this lays at the
feet of the seat of real power in the USA....The Federal Reserve Private
Secret Bank Corporation

shhh... ok, now you're out of the club.

--
"j" ganz @@
www.sailnow.com