Go, Economy!

[Some Stupid Japanese Name]

I just saw that Chase lost 2 billion dollars and the CEO said, "it could get worse."
Awesome.

[Andrew]

Well, I guess we'd better hurry up and give them $2 billion. Chase is an important bank!

[Yoshi]

Like your state subsidized college education? Or those paved roads you drive on?

You really are a joke poster.

Way to bring up the STATE, which is where 90% of the power should be held, and one of the two things the Feds really should do.

You're the joke. I'm amazed that the real world hasn't woken you up yet.

[Diff-chan]

It has. I was a right winger in college. I see no real world evidence that the Republican way of doing things works out successfully. We've had 30 years of it. Right now I see the right in the "conservatism cannot fail it can only be failed" stage of rhetoric.

I just saw that Chase lost 2 billion dollars and the CEO said, "it could get worse."
Awesome.

Jamie Dimon is the lead prick in the "we're smarter than everyone so just leave us alone to do our job" brigade too.

These guys are beyond parody at this point.

[Yoshi]

How many of those 30 years have the Republicans had the Presidency and both halves of Congress? When the Congress is split, absolutely nothing gets done, which is only a positive when someone as out of touch with reality as Obama is writing the agenda.

[Diff-chan]

Both parties have embraced right wing economic ideology. Democrats did it after about 1990 or so - third way DLC and the like. It hasn't worked. The 1990s were indeed fine years for educated professionals but the income gap grew and banking de-regulation planted the seeds of the 2008 mess. "conservatism cannot fail, it can only be failed."

Our government from about 2001-2006 was like a parody of first world governance. I don't want to hand over the country to these crooks and clowns again.

[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.

[Diff-chan]

And yet both parties did the clearly liberal and stupid act of approving bailouts to fix the banking crisis.

I didn't talk to any liberals who approved of TARP. The idea that liberals would be in favor of handing over gazillions of dollars to banks to reward them for blowing up the economy sounds strange to me. No wonder you hate liberals - you automatically assign any policies you don't like to them!

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.

It's 2012 and you still don't know how the housing bubble blew up. That's pretty sorry. The companies made these mortgages quite eagerly and with a smile on their face. They made a ton of money by slicing them up and selling them. They were able to do that because they invented a way to pawn off trash as gold. This is well-documented. The problem was not the CRA, it was derivatives. It's in a lot of different books and the documentation is out there. Go read some of it.

I mean - Alan Greenspan shilled for banks his entire career, to the point where they invented a term to describe the fact that he will bail them out no matter what. Is Greenspan a liberal now?

But like I said, it's 2012 and you still don't understand this.

[Yoshi]

I didn't talk to any liberals who approved of TARP. The idea that liberals would be in favor of handing over gazillions of dollars to banks to reward them for blowing up the economy sounds strange to me. No wonder you hate liberals - you automatically assign any policies you don't like to them!

So Obama, who continues to try to take credit for the puny improvements that we've seen during his disaster of a presidency and attributes it to the bail outs, is not a liberal? Fascinating.

It's 2012 and you still don't know how the housing bubble blew up. That's pretty sorry. The companies made these mortgages quite eagerly and with a smile on their face. They made a ton of money by slicing them up and selling them. They were able to do that because they invented a way to pawn off trash as gold. This is well-documented. The problem was not the CRA, it was derivatives. It's in a lot of different books and the documentation is out there. Go read some of it.

I mean - Alan Greenspan shilled for banks his entire career, to the point where they invented a term to describe the fact that he will bail them out no matter what. Is Greenspan a liberal now?

But like I said, it's 2012 and you still don't understand this.

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? And who held Congress when these evil deregulations were passed?

I'm not sure why you think Alan Greenspan adds any ammo to your argument. Most of his role is something that shouldn't exist in the federal government in the first place. It's a perfect example of the free market we don't have.

[Diff-chan]

So Obama, who continues to try to take credit for the puny improvements that we've seen during his disaster of a presidency and attributes it to the bail outs, is not a liberal? Fascinating.

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

People on the right really didn't like Bush for the Dubai Ports World thing, or for trying to treat illegal immigrants like human beings, right? It's the same thing.

And who held Congress when these evil deregulations were passed?

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

edit: Josh is right. I don't know why I bother.