On Sep 16, 11:38 am, Dave wrote:
On Tue, 16 Sep 2008 11:26:06 -0700 (PDT), "
said:

Rules that were put in place in the last
great consumer credit crunch have been loosened all around to maintain
liquidity

What rules were those?

Rules like my rule against posting off topic! My apologies to the
group and I'll let you have the last word, Dave. My thesis is that
banking deregulation, securities deregulation and insurance
deregulation have been driven by the need to expand consumer credit.
Many of those regulations that were loosened were legacies of the
Great Depression and included collateralization requirements for banks
and insurers, strict separation banking and securities services and
book keeping among others. Gory detail is available to a Google user
and there's some general discussion he http://en.wikipedia.org/wiki/Deregulation.

-- Tom.

On 16 Sep 2008 16:27:02 -0500, Dave wrote:

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.

While not the whole answer, repeal of G-S allowed mortgage origination
and bond underwriting to live under the same corporate umbrella which
created incentives to originate more mortgages.

"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

"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 20:00:49 -0700, "Capt. JG"
said:

Really. I didn't know you were the expert in all things financial.

Let's just say I know a few things about banks and their regulation


A few things? Sort of like Palin? You're close to the regulators... just
down the street! LOL

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

"Dave" wrote in message
...
On Wed, 17 Sep 2008 09:12:22 -0700, "Capt. JG"
said:

Really. I didn't know you were the expert in all things financial.

Let's just say I know a few things about banks and their regulation


A few things? Sort of like Palin? You're close to the regulators... just
down the street! LOL

No, Jon. Often my job requires me to educate the bank regulators and point
out to them the error of their ways.


Perhaps you should tell them to let market forces do their work! LOL

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

"Dave" wrote in message
...
On Wed, 17 Sep 2008 11:31:05 -0700, "Capt. JG"
said:

No, Jon. Often my job requires me to educate the bank regulators and
point
out to them the error of their ways.


Perhaps you should tell them to let market forces do their work!

Sad thing is that both of the major party candidates are loudly shouting
"I'm gonna do something about it when I get elected" and neither of them
has
a clue as to what to do, or even what the problem is.


Obama has a clue. McCain relies on his wife to read/send his email. I wonder
if that'll be true when/if he gets elected.

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

On 17 Sep 2008 17:27:03 -0500, Dave wrote:

On Wed, 17 Sep 2008 13:50:02 -0700, "Capt. JG" said:

McCain relies on his wife to read/send his email. I wonder
if that'll be true when/if he gets elected.

That talking point may not be a wise one to dwell on, Jon. I suspect there
are a fair number of voters who are potential customers for that Video
Purrfesser program, and who won't appreciate it.

Yeah, he wouldn't want to offend the knuckle-dragging, mouth-breather
vote!

Dave wrote:

On Wed, 17 Sep 2008 11:31:05 -0700, "Capt. JG" said:


No, Jon. Often my job requires me to educate the bank regulators and point
out to them the error of their ways.


Perhaps you should tell them to let market forces do their work!


Sad thing is that both of the major party candidates are loudly shouting
"I'm gonna do something about it when I get elected" and neither of them has
a clue as to what to do, or even what the problem is.


Well, neither did President Bush - today...

So, that's what they meant by, "not with a bang, but a whimper"...

--

Richard

(remove the X to email)

"Dave" wrote in message
...
On Wed, 17 Sep 2008 19:07:44 -0500, cavelamb himself
said:

Sad thing is that both of the major party candidates are loudly shouting
"I'm gonna do something about it when I get elected" and neither of them
has
a clue as to what to do, or even what the problem is.


Well, neither did President Bush - today...

Hate to disillusion you, but he's not on the ballot this time. (You'd
never
know it, of course, by listening to the Dems' talking points.)


Yes he is. His clone is called John McCain.

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