XPost: alt.society.liberalism, alt.atheism, talk.politics.guns   
   From: me4guns@verizon.removeme.this2.nospam.net   
      
   "Free Lunch"  wrote in message   
   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.   
      
   So basically you're telling me that the Congressional oversight failed to   
   perform it's job.   
      
   Thanks for confirming what I said.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)