XPost: alt.society.liberalism, alt.atheism, talk.politics.guns   
   From: lunch@nofreelunch.us   
      
   On Sat, 18 May 2013 13:20:43 -0500, RD Sandman   
    wrote in alt.atheism:   
      
   >Free Lunch  wrote in   
   >news:libfp8h5jqouso1cu9sjm7njpvk0g59ofk@4ax.com:   
   >   
   >> On Sat, 18 May 2013 11:23:40 -0500, RD Sandman   
   >>  wrote in alt.atheism:   
   >>   
   >>>Free Lunch  wrote in   
   >>>news:qj1fp8dhrulkp4pvarifk79bc8c9tbnpgi@4ax.com:   
   >>>   
   >>>> On Fri, 17 May 2013 23:07:47 -0400, "Scout"   
   >>>>  wrote in alt.atheism:   
   >>>>   
   >>>>>   
   >>>>>   
   >>>>>"Free Lunch"  wrote in message   
   >>>>>news:chrcp8tagik07ttiqh3358p7v0au52bruk@4ax.com...   
   >>>>>> On Fri, 17 May 2013 12:14:13 -0500, RD Sandman   
   >>>>>>  wrote in alt.atheism:   
   >>>>>>   
   >>>>>>>Free Lunch  wrote in   
   >>>>>>>news:59ocp8lekgqdkorlm9lcvjgaseqsum6qrd@4ax.com:   
   >>>>>>>   
   >>>>>>>> On Fri, 17 May 2013 10:30:50 -0500, RD Sandman   
   >>>>>>>>  wrote in alt.atheism:   
   >>>>>>>>   
   >>>>>>>>>Free Lunch  wrote in   
   >>>>>>>>>news:vgecp89b4ct8u06mvcmhedm0ercri3b5gg@4ax.com:   
   >>>>>>>>>   
   >>>>>>>>>> On Thu, 16 May 2013 21:43:55 -0500, RD Sandman   
   >>>>>>>>>>  wrote in alt.atheism:   
   >>>>>>>>>>   
   >>>>>>>>>>>deep wrote in news:h85bp8p08pctdpcmrnhlao2m669ocsvbi0@4ax.com:   
   >>>>>>>>>>>   
   >>>>>>>>>>>> On Thu, 16 May 2013 22:22:03 -0400, "Scout"   
   >>>>>>>>>>>>  wrote:   
   >>>>>>>>>>>>   
   >>>>>>>>>>>>>>   
   >>>>>>>>>>>>>> But not to the FY2008 FY which ended 9/30/08.  He took   
   >>>>>>>>>>>>>> office   
   >>>>>>>under   
   >>>>>>>>>>>>>> the 2009FY budget.   
   >>>>>>>>>>>>>   
   >>>>>>>>>>>>>Oops, and I kept saying FY2008.... my mistake. Should have   
   >>>>>>>>>>>>>been   
   >>>>>>>2009.   
   >>>>>>>>>>>>>   
   >>>>>>>>>>>>>Still doesn't alter that Obama is responsible for a major   
   >>>>>>>>>>>>>portion   
   >>>>>>>of   
   >>>>>>>>>>>>>that year's deficit.   
   >>>>>>>>>>>>>   
   >>>>>>>>>>>> No, he's not.  A minor portion, but he inherited the worst   
   >>>>>>>>>>>> recession in decades.   
   >>>>>>>>>>>   
   >>>>>>>>>>>As a result of deregulation from both sides of the aisle over   
   >>>>>>>>>>>two decades, failure of the dot.com industries, lack of   
   >>>>>>>>>>>oversight from the Democrats in 2007 and 2008, being ignored by   
   >>>>>>>>>>>his own party despite three   
   >>>>>>>>>>>attempts to get their attention and his taxcuts.   
   >>>>>>>>>>   
   >>>>>>>>>> The economic catastrophe was already baked in by the beginning   
   >>>>>>>>>> of 2007.   
   >>>>>>>>>   
   >>>>>>>>>As noted, it began a couple of decades ago with the start of   
   >>>>>>>>>weakening Glass Steagal in 1980.   
   >>>>>>>>>   
   >>>>>>>>>> The Democrats could have done nothing to stop it from   
   >happening.   
   >>>>>>>>>   
   >>>>>>>>>They voted for a lot of the deregulation.   
   >>>>>>>>   
   >>>>>>>> Before 2007, absolutely.   
   >>>>>>>   
   >>>>>>>What part of going on for a couple of decades would be prior to   
   >>>>>>>2007? ;)   
   >>>>>>>   
   >>>>>>>The first weakening on Glass Steagel was in 1980.   
   >>>>>>   
   >>>>>> I don't disagree with that point. I was noting that the " lack of   
   >>>>>> oversight from the Democrats in 2007 and 2008" was any empty   
   >>>>>> objection. The horse had been ridden off long before.   
   >>>>>   
   >>>>>Perhaps, but why did they give Freddy and Fanny a clean bill of   
   >health   
   >>>>>just months before the collapse?   
   >>>>   
   >>>>   
   >>>> Because all of Wall Street was drinking its own kool-aid. On a   
   >>>> traditional audit basis Fannie and Freddie were doing quite well   
   >until   
   >>>> the housing bubble burst. If an auditor doing a risk analysis said   
   >>>> that they were doing well at the moment but would have serious   
   >>>> problems if housing prices dropped 20%, that would be dismissed as   
   >>>> beyond any concern. Even though journalists had been writing about   
   >the   
   >>>> unsustainability of the housing bubble and other credit products for   
   >>>> several years, no one wanted to listen.   
   >>>>   
   >>>> It was already clear that big problems were coming in 2007.   
   >>>   
   >>>Not to Chris Dodd and Barney Frank, the chairmen of the finance   
   >>>committees.  They gave a clean bill of health to Fannie Mae and Freddie   
   >>>Mac as late as July of 2008.   
   >>   
   >> Why didn't you look at what I said instead of repeating yourself. There   
   >> was a reason that the audits were clean and the problem had not hit the   
   >> books of Fannie or Freddie until later. It's not as if Dodd and Frank   
   >> were doing the audits themselves.   
   >   
   >Didn't claim that they were but they did have the oversight   
   >responsibilities on their respective committees.   
      
   Congress doesn't run Fannie and Freddie.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)