8f4c8b3a
XPost: alt.anarchism, alt.politics.socialism, alt.philosophy.objectivism
From: pub?@?li.us
On Sat, 1 Nov 2008 21:20:55 -0700 (PDT), Mike wrote:
>On Oct 27, 10:54 am, publius2k wrote:
>> The enabling legislation for the 'foreclosure crisis' was The Bankruptcy
Abuse Prevention
>> and Consumer Protection Act of 2005
>>
>> This ill-guided law guaranteed that the government would be the strongarm
enforcers for
>> the loansharks, the predatory lenders. Without the government guarantees
provided by
>> BAPCPA, no bank would have lent 125% on appraised value.
>>
>
>I'm sure that contributed but I don't think it was the sole culprit. I
>was wondering about your
>take on Greenspan's confession of a flaw in his economic reality; he
>had expected finacial
>institutions to do what is best for their shareholders.
I totally agree, it was not the sole factor but did contribute to the
atmosphere that it
was safe to lend at any rate since they could squeeze the people to pay
regardless of the
value of the collateral with the new restrictions on bankruptcy relief.
Greenspan didn't face the reality that greed fosters theft. those in
positions of
exploitation, since their underlying worldview is one based on selfishness and
greed were
likely to descend to dog eat dog, me first and screw the clients and the
stockholders.
dogs biting their masters, the hand that feeds them. There should be a
national registry
of such greedy bastards and a prohibition of them being employed in positions
related to
investments, loans etc.
When it started to break, my dream was to let it fall, let the damn
bloodsucking empire
collapse. And from the ashes perhaps an egalitarian world would arise. all
we need is a
few memes.
"After his visit to the 'Five Tribes', Dawes noted of the Cherokee "The head
chief told us
that there was not a family in that whole Nation that had not a home of its
own. There is
not a pauper in that Nation, and the Nation does not owe a dollar. It built
its own
capitol, in which we had this examination, and built its schools and
hospitals. Yet the
defect of the system was apparent. They have got as far as they can go,
because they hold
their land in common. It is Henry George's system, and under that there is no
enterprise
to make your home any better than that of your neighbors. There is no
selfishness, which
is at the bottom of civilization. Till these people will consent to give up
their lands,
and divide them among their citizens so that each can own the land he
cultivates, they
will not make much progress." - Redbird Smith and the Nighthawk Keetoowahs
[1983 - p. 31]
by Janey B. Hendrix
"There is no selfishness, which is [the foundation] of [what Euro-Americans
call]
civilization." "because they hold their land in common." - Dawes
'That, on the principle of a communion of property, small societies may exist
in habits of
virtue, order, industry, and peace, and consequently in a state of as much
happiness as
Heaven has been pleased to deal out to imperfect humanity, I can readily
conceive, and
indeed, have seen its proofs in various small societies which have been
constituted on
that principle.'-Thomas Jefferson [1822]
--
Said American [Indian] Chieftain Acuera in reply to
the invader de Soto's demand for submission to
the king and the church so as to 'enjoy the benefits
of 'civilization' and service:
"I have long since learned who you [European Christians] are,
through others of you who came years ago to my land;
and I already know very well what your customs and
behavior are like. To me you are professional
vagabonds who wander from place to place,
gaining your livelihood by robbing, sacking and
murdering people who have given you no offense.
... Accordingly, I and all of my people have vowed
to die a hundred deaths to maintain the freedom
of our land. This is our answer, both
for the present and forevermore."
-- "Florida of the Inca" (1591)
by El Inca [aka Garcilaso de la Vega]
- First American Author to be published.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
|
