Wall Street/economy question
 

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

Wall Street/economy question
 

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.

It will happen as soon as the election is over. The loosing side will be
made the bad guys.

Wall Street/economy question
 

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





Chris Dodd, for one, has been calling for and proposing legislation for
some time to get control of the mortgage crisis, but the Bush
administration/GOP opted for the "free markets" solution, e.g., do
nothing at all. It's been proven over and again that financial market
regulation is necessary. That former U.S. Senator from Texas, the McCain
economic adviser, got the deregulation of financial markets he wanted
back in the early 1990s. Now, of course, he works for those financial
corporations.

Call it...greed.

Wall Street/economy question
 

On Sep 16, 11:38*am, "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

This is fall out from the morgage meltdown. There is new regulations
in the works.

Wall Street/economy question
 

"BAR" wrote in message
. ..
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.



It will happen as soon as the election is over. The loosing side will be
made the bad guys.


If that's true and members of Congress are sitting on their hands for
political reasons, every single one of them should be given the boot and
replaced.

IMO, the economic problems we have won't be fixed overnight, but I also
believe that fear, panic and other physiological reactions by the public in
general causes the problem to be worse. Some immediate action by Congress
may serve to calm some nerves.

I here some talkity-talk about establishing a temporary moratorium on home
foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on the
table, and *do* something?

Eisboch

Wall Street/economy question
 

"Eisboch" wrote in message
...


I here some talkity-talk about establishing a temporary moratorium on home
foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on
the table, and *do* something?

Eisboch


"hear", not "here" .... obviously.

Wall Street/economy question
 

Eisboch wrote:
"BAR" wrote in message
. ..
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.


It will happen as soon as the election is over. The loosing side will be
made the bad guys.


If that's true and members of Congress are sitting on their hands for
political reasons, every single one of them should be given the boot and
replaced.

IMO, the economic problems we have won't be fixed overnight, but I also
believe that fear, panic and other physiological reactions by the public in
general causes the problem to be worse. Some immediate action by Congress
may serve to calm some nerves.

I here some talkity-talk about establishing a temporary moratorium on home
foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on the
table, and *do* something?

My congressman lost in the primary to a challenger so he is out. The
general election is a formality. I live in a predominately Democrat
district.

Wall Street/economy question
 

"BAR" wrote in message
...

Eisboch wrote:

I here some talkity-talk about establishing a temporary moratorium on
home foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on
the table, and *do* something?

My congressman lost in the primary to a challenger so he is out. The
general election is a formality. I live in a predominately Democrat
district.


He's still drawing a paycheck. Call him up and tell him to get back to
work.

Eisboch

Wall Street/economy question
 

Eisboch wrote:
"BAR" wrote in message
...

Eisboch wrote:
I here some talkity-talk about establishing a temporary moratorium on
home foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on
the table, and *do* something?
My congressman lost in the primary to a challenger so he is out. The
general election is a formality. I live in a predominately Democrat
district.


He's still drawing a paycheck. Call him up and tell him to get back to
work.

Eisboch




Naivete at its best.

Wall Street/economy question
 

Eisboch wrote:
"BAR" wrote in message
...

Eisboch wrote:
I here some talkity-talk about establishing a temporary moratorium on
home foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas on
the table, and *do* something?
My congressman lost in the primary to a challenger so he is out. The
general election is a formality. I live in a predominately Democrat
district.


He's still drawing a paycheck. Call him up and tell him to get back to
work.

I think he is more worried about where his paychecks will be coming from
in 2009. For a Democrat he was always out and about doing what he needed
to do to be seen and do what was needed for his constituents. In my
"town" of 300 or so residents we have a parade every year and there he
is right behind the mayor's car walking the 1/2 mile parade route waving
to the people being seen. Also, if any org or group wanted a tour of the
White House or Congress he had it set up within hours.

Wall Street/economy question
 

BAR wrote:
Eisboch wrote:
"BAR" wrote in message
...

Eisboch wrote:
I here some talkity-talk about establishing a temporary moratorium
on home foreclosures, but that's all it is .... talk.
How about convening an emergency session of Congress, get some ideas
on the table, and *do* something?
My congressman lost in the primary to a challenger so he is out. The
general election is a formality. I live in a predominately Democrat
district.


He's still drawing a paycheck. Call him up and tell him to get back
to work.

I think he is more worried about where his paychecks will be coming from
in 2009. For a Democrat he was always out and about doing what he needed
to do to be seen and do what was needed for his constituents. In my
"town" of 300 or so residents we have a parade every year and there he
is right behind the mayor's car walking the 1/2 mile parade route waving
to the people being seen. Also, if any org or group wanted a tour of the
White House or Congress he had it set up within hours.


D'oh. Most U.S. Representatives of either party are after the same sort
of visibility and provide a high level of constituent services,
especially if they want to be re-elected.

Wall Street/economy question
 

"BAR" wrote in message
. ..

Eisboch wrote:


He's still drawing a paycheck. Call him up and tell him to get back to
work.


I think he is more worried about where his paychecks will be coming from
in 2009. For a Democrat he was always out and about doing what he needed
to do to be seen and do what was needed for his constituents. In my "town"
of 300 or so residents we have a parade every year and there he is right
behind the mayor's car walking the 1/2 mile parade route waving to the
people being seen. Also, if any org or group wanted a tour of the White
House or Congress he had it set up within hours.


Hey, at $169,300 a year plus benefits and expenses, I'll do that. They
hiring?

Eisboch

Wall Street/economy question
 

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.

Wall Street/economy question
 

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.

Wall Street/economy question
 

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.

Wall Street/economy question
 

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?

Wall Street/economy question
 

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.

Wall Street/economy question
 

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/

Wall Street/economy question
 

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.

Wall Street/economy question
 

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.

Wall Street/economy question
 

"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.

Wall Street/economy question
 

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.