irving_forbush on 17/9/2008 at 14:53
Quote Posted by Starrfall
McCain dont have skillz and ur a nub for thinking so gb2 the kiddie pool
unless you mean skillz at being shot down in his plane lol
So you're in favor of the n00b leading the skilld?
That's it - turn off your computer now... :cheeky:
paloalto90 on 17/9/2008 at 15:00
Quote:
EDIT: Just read that the government is taking over AIG with $85b in taxpayer money. This infuriates me. When are the candidates going to stake out some solid positions regarding the relationship between the government and the financial sector? They just seem to keep dancing around the issue.
They won't.Either candidate will give the fed more power to regulate the abuses of unsound business practices caused by greed and opportunism and both parties without the spine to stop any of it.
BEAR on 17/9/2008 at 15:21
Regulate the abuses, what the fuck are you talking about? Its been the total lack of regulation and oversight of the Bush administration that has caused this problem. They are just in damage control now, trying to keep the whole fucking thing from collapsing.
What they will need to do is regulate more, and enforce existing regulation. Hopefully this will be a lesson to those who have let this happen (though I'm sure they will make out just fine, its everyone at the bottom that will suffer).
Quote Posted by irving_forbush
So you're in favor of the n00b leading the skilld?
That's it - turn off your computer now... :cheeky:
L2P nub lol
irving_forbush on 17/9/2008 at 16:19
Quote Posted by BEAR
Quote Posted by irving_forbush
So you're in favor of the n00b leading the skilld?
That's it - turn off your computer now... :cheeky:
L2P nub lol
I
was joking...after all, why would I want to talk about something serious like experience when it's much more fun to talk about mud, smears, lies, scandals & the like??? :rolleyes:
heywood on 17/9/2008 at 17:11
I could argue that investment banks are not as regulated as they should be, and if they had the same requirements as commercial banks they wouldn't have become so over-leveraged.
I could also argue that government regulation of Fannie Mae and Freddie Mac helped cause the problem. As quasi-public entities, they were given a special monopoly role and the mortgage market became dependent on them. Also, they were tools the government mis-used to prop up the real estate market.
So while I wouldn't oppose some regulatory tweaking, I think it's a band-aid because it doesn't address the root of the problem.
I think the root of the problem is loose monetary policy by the Fed and other central banks. For the last 15 years or so, there's been more money available on the investment markets than there are sound investment opportunities. The result is speculation, which ran up the Asian investment markets prior to 1997, the tech sector until 1999, the telecommunications sector through 2001, then real estate until 2005, and most recently commodities. I think that as long as the money supply remains too loose, speculators will just move from market to market, causing more booms and crashes and instability.
I think the Fed and Treasury are making a mistake by trying to prop up over-valued assets and markets instead of letting them correct. What they're doing now is manipulation, which is worse than over-regulation. And what really bugs me about the current situation is the Treasury has started pumping taxpayer money into the hands of the speculators who caused the problem. Moral hazard is an understatement.
Stitch on 17/9/2008 at 18:17
Quote Posted by irving_forbush
why would I want to talk about something serious like experience when it's much more fun to talk about mud, smears, lies, scandals & the like??? :rolleyes:
but enough about McCain's candidacy lol
Yeah, the current state of the Republican party is pretty fucking miserable, which is depressing. I'm more liberal than a gay community theater in Berkeley, but a solid Republican party is necessary to keep a decent balance.
irving_forbush on 17/9/2008 at 19:34
Quote Posted by Stitch
Yeah, the current state of the Republican party is pretty fucking miserable, which is depressing. I'm more liberal than a gay community theater in Berkeley, but a solid Republican party is necessary to keep a decent balance.
At least you recognize the benefits of a two-party system.
Unfortunately, a two-party system is what we don't have.
Whatever the result of this election, I'd like to see positive change that protects & helps the electorate and not the elect.
Starrfall on 17/9/2008 at 19:37
Here's transcripts from today's new political ads.
Quote Posted by Barack Obama
In the past few weeks, Wall Street's been rocked as banks closed and markets tumbled. But for many of you -- the people I've met in town halls, back yards and diners across America -- our troubled economy isn't news. 600,000 Americans have lost their jobs since January. Paychecks are flat and home values are falling. It's hard to pay for gas and groceries and if you put it on a credit card they've probably raised your rates. You're paying more than ever for health insurance that covers less and less.
This isn't just a string of bad luck. The truth is that while you've been living up to your responsibilities Washington has not.
That's why we need change. Real change.
This is no ordinary time and it shouldn't be an ordinary election.
But much of this campaign has been consumed by petty attacks and distractions that have nothing to do with you or how we get America back on track.
Here's what I believe we need to do. Reform our tax system to give a $1,000 tax break to the middle class instead of showering more on oil companies and corporations that outsource our jobs. End the "anything goes" culture on Wall Street with real regulation that protects your investments and pensions. Fast track a plan for energy 'made-in-America' that will free us from our dependence on mid-east oil in 10 years and put millions of Americans to work. Crack down on lobbyists - once and for all -- so their back-room deal-making no longer drowns out the voices of the middle class and undermines our common interests as Americans. And yes, bring a responsible end to this war in Iraq so we stop spending billions each month rebuilding their country when we should be rebuilding ours.
Doing these things won't be easy. But we're Americans. We've met tough challenges before. And we can again. I'm Barack Obama. I hope you'll read my economic plan. I approved this message because bitter, partisan fights and outworn ideas of the left and the right won't solve the problems we face today. But a new spirit of unity and shared responsibility will.
Quote Posted by John McCain
You, the American workers, are the best in the world.
But your economic security has been put at risk by the greed of Wall Street.
That's unacceptable.
My opponent's only solutions are talk and taxes.
I'll reform Wall Street and fix Washington. I've taken on tougher guys than this before.
(
http://voices.washingtonpost.com/the-trail/2008/09/17/obma_mccain_pivot_to_economy_i.html) videos available here
edit: also (
http://www.womenforjohnmccain.com/)
Stitch on 17/9/2008 at 20:46
Quote Posted by irving_forbush
Unfortunately, a two-party system is what we don't have.
Yeah, good luck defending that claim.
