On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

EIsboch


I think the truth is that very few in congress, if any, are
financially astute enough to propose meaningful legislation. It
really shouldn't come from congress anyway but rather from existing
regulatory agencies: The SEC, Controller of the Currency, Federal
Reserve, FASB, FDIC, etc. There was a massive breakdown at all levels
regarding the amount of leveraged, high-risk debt that was being
accumulated by the financial services industry. The bond rating
agencies share more than a little bit of the blame as well. They are
paid to assess risk and evaluate worst case scenarios, and none of
that seems to have been done very well except possibly by Warren
Buffet.

Eisboch wrote:
With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

EIsboch




The current stock market slide started June 1, 2007, after it became
obvious that the democrats were going to concentrate their efforts for
the next two years on impeaching somebody, and doing nothing else. Was
anything accomplished in the First Hundred Days in which they were going
to change the world?

Check the History of the DJI

http://finance.google.com/finance?cid=983582

(Use the slide bars at the bottom to cover the period in question.)

If you are not happy with the democrats, start sending your complaints
to the proper people. Their contract information is at the following
websites.

http://www.senate.gov/general/contac...nators_cfm.cfm

https://forms.house.gov/wyr/welcome.shtml

If everybody who post a political comment to a newsgroup wrote instead
to their congress person, congress may realize that "Small Town Middle
Americans depressed by poor economic condition who are clinging to their
guns and God" are not happy with congress's performance.

Several month ago I started sending mail to all of my congressmen, and
have keep it up. I doubt it is completely me but some have decided that
off shore drilling is a good thing. Next get them to change the
regulations that were put in place to kill the nuclear industry.

Keith nuttle wrote:
Eisboch wrote:
With all the attention given to the financial meltdown in the media, I
see a lot of finger pointing and blame being directed at various
people for the lack of government regulation. Even McCain, this
morning, acknowledged that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of
areas. Congress is also the legislative branch of the government,
responsible for drafting, proposing and instituting laws and/or
changes as required. The executive branch then enforces the approved
laws.

Why don't we see any members of Congress responding to this financial
crisis with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or
Democrat actually doing their job and taking action as required in
their job/office responsibilities.

EIsboch




The current stock market slide started June 1, 2007, after it became
obvious that the democrats were going to concentrate their efforts for
the next two years on impeaching somebody, and doing nothing else. Was
anything accomplished in the First Hundred Days in which they were going
to change the world?

Check the History of the DJI

http://finance.google.com/finance?cid=983582

(Use the slide bars at the bottom to cover the period in question.)

If you are not happy with the democrats, start sending your complaints
to the proper people. Their contract information is at the following
websites.

http://www.senate.gov/general/contac...nators_cfm.cfm

https://forms.house.gov/wyr/welcome.shtml

If everybody who post a political comment to a newsgroup wrote instead
to their congress person, congress may realize that "Small Town Middle
Americans depressed by poor economic condition who are clinging to their
guns and God" are not happy with congress's performance.

Several month ago I started sending mail to all of my congressmen, and
have keep it up. I doubt it is completely me but some have decided that
off shore drilling is a good thing. Next get them to change the
regulations that were put in place to kill the nuclear industry.


Yeah...that's the ticket...even less regulation than we have now.

A Boater wrote:
Keith nuttle wrote:
Eisboch wrote:
With all the attention given to the financial meltdown in the media,
I see a lot of finger pointing and blame being directed at various
people for the lack of government regulation. Even McCain, this
morning, acknowledged that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of
areas. Congress is also the legislative branch of the government,
responsible for drafting, proposing and instituting laws and/or
changes as required. The executive branch then enforces the approved
laws.

Why don't we see any members of Congress responding to this financial
crisis with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or
Democrat actually doing their job and taking action as required in
their job/office responsibilities.

EIsboch




The current stock market slide started June 1, 2007, after it became
obvious that the democrats were going to concentrate their efforts for
the next two years on impeaching somebody, and doing nothing else.
Was anything accomplished in the First Hundred Days in which they were
going to change the world?

Check the History of the DJI

http://finance.google.com/finance?cid=983582

(Use the slide bars at the bottom to cover the period in question.)

If you are not happy with the democrats, start sending your complaints
to the proper people. Their contract information is at the following
websites.

http://www.senate.gov/general/contac...nators_cfm.cfm

https://forms.house.gov/wyr/welcome.shtml

If everybody who post a political comment to a newsgroup wrote instead
to their congress person, congress may realize that "Small Town Middle
Americans depressed by poor economic condition who are clinging to
their guns and God" are not happy with congress's performance.

Several month ago I started sending mail to all of my congressmen, and
have keep it up. I doubt it is completely me but some have decided
that off shore drilling is a good thing. Next get them to change the
regulations that were put in place to kill the nuclear industry.


Yeah...that's the ticket...even less regulation than we have now.
I am writing my congressman are you?

Keith nuttle wrote:
A Boater wrote:
Keith nuttle wrote:
Eisboch wrote:
With all the attention given to the financial meltdown in the media,
I see a lot of finger pointing and blame being directed at various
people for the lack of government regulation. Even McCain, this
morning, acknowledged that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of
areas. Congress is also the legislative branch of the government,
responsible for drafting, proposing and instituting laws and/or
changes as required. The executive branch then enforces the
approved laws.

Why don't we see any members of Congress responding to this
financial crisis with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or
Democrat actually doing their job and taking action as required in
their job/office responsibilities.

EIsboch




The current stock market slide started June 1, 2007, after it became
obvious that the democrats were going to concentrate their efforts
for the next two years on impeaching somebody, and doing nothing
else. Was anything accomplished in the First Hundred Days in which
they were going to change the world?

Check the History of the DJI

http://finance.google.com/finance?cid=983582

(Use the slide bars at the bottom to cover the period in question.)

If you are not happy with the democrats, start sending your
complaints to the proper people. Their contract information is at the
following websites.

http://www.senate.gov/general/contac...nators_cfm.cfm

https://forms.house.gov/wyr/welcome.shtml

If everybody who post a political comment to a newsgroup wrote
instead to their congress person, congress may realize that "Small
Town Middle Americans depressed by poor economic condition who are
clinging to their guns and God" are not happy with congress's
performance.

Several month ago I started sending mail to all of my congressmen,
and have keep it up. I doubt it is completely me but some have
decided that off shore drilling is a good thing. Next get them to
change the regulations that were put in place to kill the nuclear
industry.


Yeah...that's the ticket...even less regulation than we have now.
I am writing my congressman are you?



Heheheh...I don't have to...

He and I both favor more regulation of financial markets, and close
regulation of nuclear facilities. We both favor expansion of the
existing nuclear facility in our area.

On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

Here 'ya go....

And guess who it all relates back to.

Two guesses - one doesn't count.

Starts with C and ends with N.

http://hotair.com/archives/2008/09/1...credit-crisis/

Valgard Toebreakerson wrote:
On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

Here 'ya go....

And guess who it all relates back to.

Two guesses - one doesn't count.

Starts with C and ends with N.

http://hotair.com/archives/2008/09/1...credit-crisis/


snerk

Sure. I believe your right-wing blog of bullschitt. Sure I do.

snerk

You should stick to your Etec gas mileage infomercials.

On Tue, 16 Sep 2008 22:15:56 GMT, Valgard Toebreakerson
wrote:

On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or Democrat
actually doing their job and taking action as required in their job/office
responsibilities.

Here 'ya go....

And guess who it all relates back to.

Two guesses - one doesn't count.

Starts with C and ends with N.

http://hotair.com/archives/2008/09/1...credit-crisis/

Today Hannity read a portion of a speech made to the Senate in 2005 by John
McCain. In the speech McCain notes the lack of oversight of the Maes and
Macs and basically predicts the mess that we're in now.

I wish I could find the speech, but I've not been able to. Perhaps one who
is quite astute, such as yourself, Mr. Toenail, could do so.
--
John H.

"John H." wrote in message
...
On Tue, 16 Sep 2008 22:15:56 GMT, Valgard Toebreakerson

wrote:

On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I
see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible
for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial
crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or
Democrat
actually doing their job and taking action as required in their
job/office
responsibilities.

Here 'ya go....

And guess who it all relates back to.

Two guesses - one doesn't count.

Starts with C and ends with N.

http://hotair.com/archives/2008/09/1...credit-crisis/

Today Hannity read a portion of a speech made to the Senate in 2005 by
John
McCain. In the speech McCain notes the lack of oversight of the Maes and
Macs and basically predicts the mess that we're in now.

I wish I could find the speech, but I've not been able to. Perhaps one who
is quite astute, such as yourself, Mr. Toenail, could do so.
--
John H.


Jim Cramer blames the whole meltdown on Chris Cox, the current chairman of
the SEC. Cox was appointed by Bush in 2005.
According to Cramer, Cox removed some of the regulations designed to prevent
"bear runs", or the ability of people to manipulate the stock price by
"shorting" .... basically betting the stock price will go down. Cramer
claims there is no way AIG's stock would have dropped as quickly as it did
without the external manipulation caused by traders shorting the stock.
Some people made 10s of millions over a 3 day period as the stock price
fell. According to Cramer, Cox reinstituted the safety net regulations
temporarily, but then removed them again.

Eisboch wrote:
"John H." wrote in message
...
On Tue, 16 Sep 2008 22:15:56 GMT, Valgard Toebreakerson

wrote:

On Tue, 16 Sep 2008 11:38:08 -0400, "Eisboch" wrote:

With all the attention given to the financial meltdown in the media, I
see a
lot of finger pointing and blame being directed at various people for the
lack of government regulation. Even McCain, this morning, acknowledged
that some level of regulation is required.

Here's what I don't get:

Congress has oversight responsibilities covering a broad range of areas.
Congress is also the legislative branch of the government, responsible
for
drafting, proposing and instituting laws and/or changes as required. The
executive branch then enforces the approved laws.

Why don't we see any members of Congress responding to this financial
crisis
with any form of proposed legislation?
I see them casting blame for the situation on either current or past
presidents, but I haven't heard of any of them .... Republican or
Democrat
actually doing their job and taking action as required in their
job/office
responsibilities.
Here 'ya go....

And guess who it all relates back to.

Two guesses - one doesn't count.

Starts with C and ends with N.

http://hotair.com/archives/2008/09/1...credit-crisis/
Today Hannity read a portion of a speech made to the Senate in 2005 by
John
McCain. In the speech McCain notes the lack of oversight of the Maes and
Macs and basically predicts the mess that we're in now.

I wish I could find the speech, but I've not been able to. Perhaps one who
is quite astute, such as yourself, Mr. Toenail, could do so.
--
John H.


Jim Cramer blames the whole meltdown on Chris Cox, the current chairman of
the SEC. Cox was appointed by Bush in 2005.
According to Cramer, Cox removed some of the regulations designed to prevent
"bear runs", or the ability of people to manipulate the stock price by
"shorting" .... basically betting the stock price will go down. Cramer
claims there is no way AIG's stock would have dropped as quickly as it did
without the external manipulation caused by traders shorting the stock.
Some people made 10s of millions over a 3 day period as the stock price
fell. According to Cramer, Cox reinstituted the safety net regulations
temporarily, but then removed them again.

Stock manipulation has been going on for more than 12 years now. The
whole Internet bubble was based upon hype and not much else. The biggest
problems was the buying on 100% credit or more in the housing market.
Who in their right mind is going to sell a $300,000 house to someone
making $50,000 per year based only on the assumption that the house is
going to be worth $500,000 in a year or two and they guy is going to
sell it for a $200,000 profit and walk away.