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Gosh...will shares in prison stock take a nosedive?
On 8/12/13 6:44 PM, Mr. Luddite wrote:
"F.O.A.D." wrote in message m... On 8/12/13 6:09 PM, Mr. Luddite wrote: "F.O.A.D." wrote in message m... Virtually all the banksters who caused the economic recession of the Bush Administration were not prosecuted or imprisoned for anything. ------------------------------ The "banksters" didn't cause the recession. I think it would be more accurate to call it the "Barney Frank & Co." recession. Oh? Was Frank the one knowingly lending hundreds of billions of dollars against worthless financial instruments, or engaging in predatory lending? Was Frank responsible for the irresponsible and greedy banksters putting themselves ahead of their responsibilities to their shareholders, who, sadly, are too numerous and scattered to exert much control. There's no legal sting for the banksters. They'll do what they did before, finding new loopholes to line their personal pockets. ======================== Frank and Co. were instrumental in getting legislation passed that forced lenders to make sub prime loans or face financial penalties. Financial institutions did what they felt they needed to do to protect themselves. Yes, it's about money, but that's the business they are in. Please, please...don't throw me in that briar patch! The financial penalties typically assessed against banksters are a pittance. Real penalties would be shutting down the banks and brokerages and indicting trying the top execs and their enablers in criminal court. Our prisons are full of non-violent petty criminals where they should be full of banksters, the major league thieves. |
Gosh...will shares in prison stock take a nosedive?
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Gosh...will shares in prison stock take a nosedive?
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Gosh...will shares in prison stock take a nosedive?
On 8/13/2013 6:19 AM, F.O.A.D. wrote:
On 8/13/13 2:01 AM, wrote: On Mon, 12 Aug 2013 20:55:09 -0400, "F.O.A.D." wrote: As I stated, we are pretty much the only modern western nation that still has the death penalty, and, of course, we have more crimes on the books than other countries, and the largest percentage of population in prison. You're a pretty bloodthirsty guy. Sorry to see that. So are our criminals. If you threw out every nonviolent theft, drug and financial crime we would still have more murderers, kidnappers and rapist in jail than those other countries. Are you really defending James Holmes, Ariel Castro and Maj Nidal Hasan? Give me one good reason why we should spend millions of dollars keeping them alive. Do you think any of them might be innocent? I find it interesting that the same guy who won't let us kill slimeballs like that will still support a drone strike that kills everyone in the building, guilty or innocent. I'm not defending the violent criminals who are or should be locked up. I'm simply consistent in my opposition to the death penalty. You were accused of supporting drone strikes. Does you or doesn't you? |
Gosh...will shares in prison stock take a nosedive?
In article
, says... "F.O.A.D." wrote in message m... Virtually all the banksters who caused the economic recession of the Bush Administration were not prosecuted or imprisoned for anything. ------------------------------ The "banksters" didn't cause the recession. I think it would be more accurate to call it the "Barney Frank & Co." recession. Wow. Talk about partisan politics. I'll remind you that the massive abuse of mortgage lending "due diligence" requirements occurred when there was a Republican President, Republican Senate, and Republican House of Representatives. Here's Barney Franks' pal in this. http://www.youtube.com/watch?v=63odt264pR8 Pretty cool when he says "Put your mind to it that first- time home buyers or low-income home buyers can have just as nice a house as anybody else." What a prince of a man. Funny, this guy says it's primarily the "bankster's" fault. http://www.investopedia.com/articles/07/subprime- blame.asp I look at it a bit differently. The "banksters" will steal everything they can. That's evident. If breaking the law and paying a fine when caught leads to more profit than NOT breaking the law - they will break the law. It's the American Way. Only prison time will prevent that. It's always been the "bankster's" responsibility to make only sound loans. That's his fiduciary duty. He failed. Miserably. But fiduciary duty to others means nothing if you can violate it and escape prison of other big hurt. Banksters also have a fiduciary duty to enrich themselves as much as possible, while avoiding prison. It's the American Way. Since it's a well-founded principle that banksters will steal other people's money if not sent to prison for doing it, one other thing is obvious. The lawmakers and banking/mortgage regulators failed. Every single one of them that didn't write a bill to prevent it from happening, or in the case of regulators, allow it to happen without raising holy hell. They should have all been tossed out when the **** hit the fan. But nearly all of the lawmakers and regulators are millionaires, so they followed the fiduciary duty to themselves. It's the American Way. Millionaires write the laws. They run the country. What party label they attach to themselves means nothing if their primary goal is to attain more wealth. Follow the money. It sure as hell didn't go to the middle class or poor people. |
Gosh...will shares in prison stock take a nosedive?
"Boating All Out" wrote in message ... In article , says... "F.O.A.D." wrote in message m... Virtually all the banksters who caused the economic recession of the Bush Administration were not prosecuted or imprisoned for anything. ------------------------------ The "banksters" didn't cause the recession. I think it would be more accurate to call it the "Barney Frank & Co." recession. Wow. Talk about partisan politics. I'll remind you that the massive abuse of mortgage lending "due diligence" requirements occurred when there was a Republican President, Republican Senate, and Republican House of Representatives. Here's Barney Franks' pal in this. http://www.youtube.com/watch?v=63odt264pR8 Pretty cool when he says "Put your mind to it that first- time home buyers or low-income home buyers can have just as nice a house as anybody else." What a prince of a man. Funny, this guy says it's primarily the "bankster's" fault. http://www.investopedia.com/articles/07/subprime- blame.asp I look at it a bit differently. The "banksters" will steal everything they can. That's evident. If breaking the law and paying a fine when caught leads to more profit than NOT breaking the law - they will break the law. It's the American Way. Only prison time will prevent that. It's always been the "bankster's" responsibility to make only sound loans. That's his fiduciary duty. He failed. Miserably. But fiduciary duty to others means nothing if you can violate it and escape prison of other big hurt. Banksters also have a fiduciary duty to enrich themselves as much as possible, while avoiding prison. It's the American Way. Since it's a well-founded principle that banksters will steal other people's money if not sent to prison for doing it, one other thing is obvious. The lawmakers and banking/mortgage regulators failed. Every single one of them that didn't write a bill to prevent it from happening, or in the case of regulators, allow it to happen without raising holy hell. They should have all been tossed out when the **** hit the fan. But nearly all of the lawmakers and regulators are millionaires, so they followed the fiduciary duty to themselves. It's the American Way. Millionaires write the laws. They run the country. What party label they attach to themselves means nothing if their primary goal is to attain more wealth. Follow the money. It sure as hell didn't go to the middle class or poor people. -------------------------- My complaint about Barney Frank is based on him being the prime advocate to establish quotas for mortgages obtained through Fannie Mae and Freddie Mac. Before 1992 the Fair Housing Act only required them to approve loans that institutional mortgage lenders would make, i.e. qualified applicants who met the down payment, work history and income levels to qualify for the amount of the loan. The 1992 amendment successfully lobbied for by Frank established a quota system whereby 30 percent of the loans *must* be made to those who were at or below the medium income level in the community. This quota was raised to 50 percent at the end of Clinton's administration and raised again to 55 percent during the Bush administration in 2007. The result was the creation of so called "sub-prime" loans and the eventual collapse of the housing market and home values. This is what caused the recession. |
Gosh...will shares in prison stock take a nosedive?
"Boating All Out" wrote in message ... In article , says... "F.O.A.D." wrote in message m... Virtually all the banksters who caused the economic recession of the Bush Administration were not prosecuted or imprisoned for anything. ------------------------------ The "banksters" didn't cause the recession. I think it would be more accurate to call it the "Barney Frank & Co." recession. Wow. Talk about partisan politics. I'll remind you that the massive abuse of mortgage lending "due diligence" requirements occurred when there was a Republican President, Republican Senate, and Republican House of Representatives. Here's Barney Franks' pal in this. http://www.youtube.com/watch?v=63odt264pR8 Pretty cool when he says "Put your mind to it that first- time home buyers or low-income home buyers can have just as nice a house as anybody else." What a prince of a man. Funny, this guy says it's primarily the "bankster's" fault. http://www.investopedia.com/articles/07/subprime- blame.asp I look at it a bit differently. The "banksters" will steal everything they can. That's evident. If breaking the law and paying a fine when caught leads to more profit than NOT breaking the law - they will break the law. It's the American Way. Only prison time will prevent that. It's always been the "bankster's" responsibility to make only sound loans. That's his fiduciary duty. He failed. Miserably. But fiduciary duty to others means nothing if you can violate it and escape prison of other big hurt. Banksters also have a fiduciary duty to enrich themselves as much as possible, while avoiding prison. It's the American Way. Since it's a well-founded principle that banksters will steal other people's money if not sent to prison for doing it, one other thing is obvious. The lawmakers and banking/mortgage regulators failed. Every single one of them that didn't write a bill to prevent it from happening, or in the case of regulators, allow it to happen without raising holy hell. They should have all been tossed out when the **** hit the fan. But nearly all of the lawmakers and regulators are millionaires, so they followed the fiduciary duty to themselves. It's the American Way. Millionaires write the laws. They run the country. What party label they attach to themselves means nothing if their primary goal is to attain more wealth. Follow the money. It sure as hell didn't go to the middle class or poor people. ---------------------------- BTW, I am sure you are aware that Fannie Mae and Freddie Mac don't make mortgage loans directly. They buy the mortgages given by institutional lenders and then sell them as securities in the bond market, which is supposed to provide the funding for lenders to make more mortgages. By establishing the quota systems in the 90's so many bad loans were made that the value of the securities crashed. Result? Recession. |
Gosh...will shares in prison stock take a nosedive?
In article fq2dnb7y8r3ErZfPnZ2dnUVZ_q-
, says... My complaint about Barney Frank is based on him being the prime advocate to establish quotas for mortgages obtained through Fannie Mae and Freddie Mac. Before 1992 the Fair Housing Act only required them to approve loans that institutional mortgage lenders would make, i.e. qualified applicants who met the down payment, work history and income levels to qualify for the amount of the loan. The 1992 amendment successfully lobbied for by Frank established a quota system whereby 30 percent of the loans *must* be made to those who were at or below the medium income level in the community. This quota was raised to 50 percent at the end of Clinton's administration and raised again to 55 percent during the Bush administration in 2007. The result was the creation of so called "sub-prime" loans and the eventual collapse of the housing market and home values. This is what caused the recession. Right, ignore all other evidence to the contrary, which is readily available, and just blame Barney Frank. Give everybody else, other lawmakers, mortgage brokers, banksters, Wall Street, home-flippers, 2nd mortgage takers to buy that F-250, etc, a free pass. It's all Barney Franks' fault. He was secretly mind- controlling the entire U.S. Government, and those I mention above starting from - what, 1992? He must be the anti-Christ. Like I said, "Wow. Talk about partisan politics." Whatever floats your boat, Mr "Independent." |
Gosh...will shares in prison stock take a nosedive?
"Boating All Out" wrote in message ... In article fq2dnb7y8r3ErZfPnZ2dnUVZ_q- , says... My complaint about Barney Frank is based on him being the prime advocate to establish quotas for mortgages obtained through Fannie Mae and Freddie Mac. Before 1992 the Fair Housing Act only required them to approve loans that institutional mortgage lenders would make, i.e. qualified applicants who met the down payment, work history and income levels to qualify for the amount of the loan. The 1992 amendment successfully lobbied for by Frank established a quota system whereby 30 percent of the loans *must* be made to those who were at or below the medium income level in the community. This quota was raised to 50 percent at the end of Clinton's administration and raised again to 55 percent during the Bush administration in 2007. The result was the creation of so called "sub-prime" loans and the eventual collapse of the housing market and home values. This is what caused the recession. Right, ignore all other evidence to the contrary, which is readily available, and just blame Barney Frank. Give everybody else, other lawmakers, mortgage brokers, banksters, Wall Street, home-flippers, 2nd mortgage takers to buy that F-250, etc, a free pass. It's all Barney Franks' fault. He was secretly mind- controlling the entire U.S. Government, and those I mention above starting from - what, 1992? He must be the anti-Christ. Like I said, "Wow. Talk about partisan politics." Whatever floats your boat, Mr "Independent." ---------------------------------- There's no question that many in the groups you cite tried to take advantage of lessened requirements for loans and those giving them took advantage of the ability to do so. However, the efforts of Barney Frank (and others) directly led to this era of fiscal irresponsibility. Even in 2004, when the evidence was mounting that a crisis was imminent, Frank was still advocating the quotas, saying "let's roll the dice a little longer" or something to that effect. He also claimed that Fannie and Freddy were in "fine shape". Remember ... he was Chairman of the House Financial Services Committee and had a lot of political clout. It was after the **** hit the fan that he started backtracking on all his previous statements and positions, disavowing any responsibility. That's what disgusts me about him. |
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