Elizabeth Warren's Plan to Rein in Wall Street

[gooddad409]

@highroller

If that is your opinion, they you have no idea what happened 2008. It was the end of capitalism.

MONEY MARKET ACCOUNTS, CASH ACCOUNTS, WERE WORTH 90 CENTS ON THE DOLLAR!!!

Talk to any banker, and that is the end of the world.

I didn’t want to bail out the banks and the insurance system. I wanted people to fail from their own stupidity!! But don’t tell me that you would be sitting pretty if there was no government involvement. They saved you!! Whether you wanted it or not.

Oh I probably had a much better idea of what was going on than you.

I am married to a woman who was working for one of the largest loan companies in the country. She was a mortgage loan fraud investigator.

The histrionics don’t add anything to your claims.

[highroller]

Well, okay then. Go on believing what you believe.

[gooddad409]

Strangely enough i was about to tell you the same.

[lessright]

Countrywide?

[gooddad409]

@lessright

Countrywide?

Not at that time but she had worked for them at some point in the past.

She doesn’t want me putting out where she was working in 2008. For some reason she doesn’t trust internet folks with too much personal information.

Of course i have with held where i used to work as well. Call us paranoid i guess.

[Jezcoe]

What, because I know what I am talking about?

[Jezcoe]

@highroller

If that is your opinion, they you have no idea what happened 2008. It was the end of capitalism.

MONEY MARKET ACCOUNTS, CASH ACCOUNTS, WERE WORTH 90 CENTS ON THE DOLLAR!!!

Talk to any banker, and that is the end of the world.

I didn’t want to bail out the banks and the insurance system. I wanted people to fail from their own stupidity!! But don’t tell me that you would be sitting pretty if there was no government involvement. They saved you!! Whether you wanted it or not.

I at least got why the bail out had to happen.

What was the greatest disappointment was the lack of needed regulation and prosecution of bad actors to make sure that it doesn’t happen again.

But… the CEC narrative once again creeps in and lays the blame on something other than anything based in reality.

[gooddad409]

@Jezcoe

What, because I know what I am talking about?

You always think you do.

[Jezcoe]

@gooddad409

@Jezcoe

What, because I know what I am talking about?

You always think you do.

Like other reports… I have read this one. The Congressional Financial Crises Inquiry Report.

GPO-FCIC.pdf

It’s a solid read… I suggest everyone do it.

[Hexenbiest]

What will they do the next one? The fed saved us by pumping (printing) money and lowering interest rates to zero putting the country in massive debt. I have heard many of the economists say what you did, and others say we should have drank our medicine because we effectively kicked the can down the road which will be a bigger mess some day.

[Jezcoe]

@Hexenbiest

What will they do the next one? The fed saved us by pumping (printing) money and lowering interest rates to zero putting the country in massive debt. I have heard many of the economists say what you did, and others say we should have drank our medicine because we effectively kicked the can down the road which will be a bigger mess some day.

Nope… it was bad… riding it out would have been unacceptable to basically everyone. No one wants to go into a full swing global depression.

[highroller]

They brought in the money doctors to fix the gaping hole in the economy that the bond crash left, but never gave the economy the medicine it needed in the form of economic reforms. The patient hasn’t gotten better because we’re still on the morphine of economic stimulus (Trump tax cuts after the Fed asset buying program after TARP). There has been nothing structurally that has changed.

[Jezcoe]

@highroller

They brought in the money doctors to fix the gaping hole in the economy that the bond crash left, but never gave the economy the medicine it needed in the form of economic reforms. The patient hasn’t gotten better because we’re still on the morphine of economic stimulus (Trump tax cuts after the Fed asset buying program after TARP). There has been nothing structurally that has changed.

The fact there is a still a huge unregulated derivatives market is bonkers.

[highroller]

I think we’re doomed sometimes.

RPT-Banks, investors pile back into synthetic CDOs

[Jezcoe]

@highroller

I think we’re doomed sometimes.

RPT-Banks, investors pile back into synthetic CDOs | Reuters

As long as people are making money… they don’t care.

[Hexenbiest]

I see some of the usual indicators showing their faces, and I am not doom and gloom fellow. House prices outpacing wages, massive debt, stock market crazy high and at the same time the gold commercials are starting to play again lol.

[Hexenbiest]

We might not have the tools to fight off another one considering interest rates are it might not have the same effect cutting them when they are already so low. All that is left is money printing.

[Jezcoe]

@Hexenbiest

We might not have the tools to fight off another one considering interest rates are it might not have the same effect cutting them when they are already so low. All that is left is money printing.

Can’t disagree with any of that.

[bigtwnvin]

I would disagree. Goobermint employees put in charge of managing or overseeing the US stock market could be an accident looking for a place to happen.

[reflechissez]

@bigtwnvin

I would disagree. Goobermint employees put in charge of managing or overseeing the US stock market could be an accident looking for a place to happen.

What does that even mean?

Do you know why trump is trying to pressure the fed to lower interest rates?