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Well, well, well, Barney

Discussion in 'Political Discussion' started by Fogbuster, Oct 7, 2008.

  1. Fogbuster

    Fogbuster Pro Bowl Player

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    Looks like I'm not the one with the tin-foil hat after all, according to the Boston Globe (never thought I'd say that). One must wonder how the American people will feel about this:


    [size=+3]Frank's fingerprints are all over the financial fiasco[/size]
    By Jeff Jacoby
    Globe Columnist / September 28, 2008


    "THE PRIVATE SECTOR got us into this mess. The government has to get us out of it."

    That's Barney Frank's story, and he's sticking to it. As the Massachusetts Democrat has explained it in recent days, the current financial crisis is the spawn of the free market run amok, with the political class guilty only of failing to rein the capitalists in. The Wall Street meltdown was caused by "bad decisions that were made by people in the private sector," Frank said; the country is in dire straits today "thanks to a conservative philosophy that says the market knows best." And that philosophy goes "back to Ronald Reagan, when at his inauguration he said, 'Government is not the answer to our problems; government is the problem.' "

    In fact, that isn't what Reagan said. His actual words were: "In this present crisis, government is not the solution to our problem; government is the problem." Were he president today, he would be saying much the same thing.

    Because while the mortgage crisis convulsing Wall Street has its share of private-sector culprits -- many of whom have been learning lately just how pitiless the private sector’s discipline can be -- they weren't the ones who "got us into this mess." Barney Frank's talking points notwithstanding, mortgage lenders didn't wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so - or else.

    [highlight]The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.
    [/highlight]


    Frank's fingerprints are all over the financial fiasco - The Boston Globe
     
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Before you have a Palinorgasm.. Jeff Jacoby was hired by the globe in the 1994 to provide views from the right.. what a novel idea try to provide balance, he writes op ed views.. don't start drooling yet, do your homework there fog man..he also had a plagiarism issue in 2000..
     
  3. Fogbuster

    Fogbuster Pro Bowl Player

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    Oh, so JACOBY'S credibility is an issue with you -- even though NO ONE has publicly questioned him on his facts this time -- and the reams and reams of other stuff on Barney Frank's culpability are ALSO not credible to you??

    :wha:

    OK, guy, believe what you want. You always do. Living in your dream world.

    //
     
    Last edited: Oct 7, 2008
  4. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    The blame list is LONG for this crisis, believing its ALL B.Frank's fault is like telling me that the Queen of clubs (pun intended) is to blame for the house of cards falling down.

    Phil Gramm much?
    Oversight any?
    ever, ya know hang out in the Ownership Society?
     
  5. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    How about the wall street greed?/ Deregulation? The current executive branch not doing anything until the last minute..
     
    Last edited: Oct 7, 2008
  6. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Exactly!

    I have been trying to wrap my GIANT brain around this for a while, I've talked to professionlas who work in the industry and politicians. All have a different perspective on the blame...but here is the scary part....

    ALL say the bailout is a joke. ALL say that we just gave crooks $2,500/each for nothing. ALL say that the worst is yet to come....


    again.....if one believes Barney Frank is all powerful, and the puppetmaster in the greatest swindle since the sex pistols....no offense but.... YOU ARE A FRICKIN IDIOT.
     
  7. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    All Jacoby is doing here is taking his orders from the right wing propaganda machine and spewing out more garbage... it is what it is a very convenient right wing talking point..

    There are not reams of information as you claim, all I have seen so far are partisan newsfeeds & you tube feeding this frenzy, imo they are deflecting stuff from the real issues.. this is a very complicated issue, but you choose not to look at a big picture here and find comfort in blaming a few for a huge mess..Barney Frank created the whole deal...anyone who believes this have to be a complete idiot..
     
  8. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    Wow, who woulda thunk it - - that Liberal Jeff Jacoby!
     
  9. Fogbuster

    Fogbuster Pro Bowl Player

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    Every single attempt by Republicans to create better oversight and regulation of this CRA mess was systematically shot down by Democrats who shamelessly hurled the race card: "you only want to restrict these mortgage loans because you are racist."

    Barney, Dodd, and the rest of 'em are going to pay for this. What they did has been recorded for all time. Accounts are due.

    //
     
  10. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    what color is the sky in your wold?

    I appreciate your perspective and all.....but come back to earth. Get real and understand.
     
  11. Fogbuster

    Fogbuster Pro Bowl Player

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    When the facts come smacking you in the face, just ignore them and blame your favorite scape-goat: that's your way. Always has been. So much the ideologue that the truth bounces right off.

    Well, you will see.

    //
     
  12. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Seeing how you love Youtube so much.. take twelve minutes out of your life..

    YouTube - Wall Street's Shadow Market
     
  13. Fogbuster

    Fogbuster Pro Bowl Player

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    You are preaching to the choir when you point out Wall Street's unconscionable and immoral greed. I firmly believe all financial executives whose companies participated in this rape of America's financial markets ought to be stripped of all their ill-gotten gains -- everything over $2 million in personal liquidity should be garnished as a paydown on this national disaster, and jail sentences should be given where applicable laws have been broken -- but this did not originate only on Wall Street.

    Wall Street was the enforcer, the street-level dealer, but the CRA and its architects was the Godfather, the major supplier of this toxic drug of financial shell-gaming. You and others are still dismissive of the game-changing effects of the Community Reinvestment Act, how it encouraged bad loans, and mushroomed for 30 years into a raging inferno of Ponzi schemes which benefited only the few who understood the game; the vast majority public was taken for a ride.

    The CRA is where this all started in both the letter and the spirit of the misuse of the financial market.

    //
     

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