Go, Economy!

This again?

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Originally Posted by Yoshi

And yet both parties did the clearly liberal and stupid act of approving bailouts to "fix" the banking crisis. And it was exacerbated (if not caused) by a federal mandate to approve loans for people who had no business having them, another clearly liberal position. I know it's very convenient to say "when my guys fucked up, it's because they were using your guys' playbook," but that doesn't make it true. Hell, if anything, it should show that Washington's problems may be less rooted in a side of aisle and more rooted in how large lobbying as become.

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This post just broke my brain. First you state that bailouts are a "clearly liberal" thing (also, banks approving anyone for a loan to make more money in derivatives are a "clearly liberal" thing).

Then you say that he says "when my guys fucked up, it's because they were using your guys' playbook,".

Isn't that exactly what you just did?

Yoshi, you need to accept the truth regarding the collapse. It wasn't liberals pushing banks on people with 580 credit scores. It was banks.

LIBERAL BANKS

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Originally Posted by Yoshi

There's no doubt the banks found all kinds of creative ways to make money, but if they wanted to do it up front, before they dreamed up those ways, why did Barnie Frank and company feel the need to drive a federal mandate? Your story is that they had banks eager to do it. If that was the case, why didn't it happen sooner?

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It didn't happen sooner because the Gramm-Leach-Bliley act wasn't until 1999, it was from that point forward that the banks got really really money hungry for the things they could do now that they could be an investment bank, and insurance company, and a commercial bank. The housing bubble was them finding a way to make tons of money by doing all three things and doing them in incredibly despicable ways.

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Originally Posted by Diff-chan

Believe it or not, a lot of people on the left really don't like Obama's vote on that.

Uhh... Republicans? Glass-Steagall repeal and Gramm-Leach-Blilely Act.

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Right. And who signed that bill? Do these same "lot of people on the left" hate that guy for that too?

Those damn Republicans must have held them both hostage!

I always thought you just had your beliefs and that's that. But now I'm starting to think you are just dumb.

Remember what started this whole mess today? How I said that Democrats embraced right wing economic ideology? Yea, Bill Clinton is the poster child for that. Financial deregulation, NAFTA, welfare reform - that stuff didn't originate in left wing think tanks.

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Originally Posted by dave is ok

This post just broke my brain. First you state that bailouts are a "clearly liberal" thing (also, banks approving anyone for a loan to make more money in derivatives are a "clearly liberal" thing).

Then you say that he says "when my guys fucked up, it's because they were using your guys' playbook,".

Isn't that exactly what you just did?

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I was talking about the government actions with regard to the banks being liberal. The banks aren't political beyond their lobbying.

And, no, Republicans have made mistakes from both playbooks. Pissing away time and money to pass a state amendment to define marriage here is a great example. But several diff posts in a row excuse liberal politicians because they were using the Republicans' playbook.

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Originally Posted by Diff-chan

I always thought you just had your beliefs and that's that. But now I'm starting to think you are just dumb.

Remember what started this whole mess today? How I said that Democrats embraced right wing economic ideology? Yea, Bill Clinton is the poster child for that. Financial deregulation, NAFTA, welfare reform - that stuff didn't originate in left wing think tanks.

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Right. I understand what point you're trying to make, but I think it's bullshit. You're seriously going with the story that Clinton and Obama weren't liberal enough often enough? Exactly how looney do you want this country to get?

"You know this Obama guy's not bad, but I sure wish he were the love child of Al Sharpton and Ted Kennedy!"

Looney enough to pass the Volker Rule in under three years would be good enough for me.

What does Al Sharpton have to do with anything? Was he ever even elected? That's just a straw man.

If by "looney" you mean, "passing financial regulation with enough teeth to make sure that bumfuck organizations like JP Morgan Chase can't lose $2 billion on a hedge four years after they helped blow up the US economy"... then yea, this country ain't looney enough.