Financial Protection Bureau - ceasing activities

Driven by Frank. . . Are you serious? So, the politician drove the bus, not the financial industry that had bankrolled his entire multi-decade career?

Sure. And Tinkerbell is about to fly through my window and grant me free wishes anytime now.

 

I won’t be laughing.
This is why I will never vote democrat.

 

What's it like to be wrong on everything? Glass Stegal has nothing to do with mortgages, it was there to keep the investment banks (Casinos) from tainting the Commercial Banking system. And, after 2008 (when said leverage against the Commercial Banking industry was used to get bailouts) it was crystal clear why it was there and why it probably needs to go back.

Oh, and FDIC coverage for the Casino and being able to claim Commercial deposits as part of your reserve. You know, so you can create more leverage for taxpayers to bail you out of.

 

No, you won't. Because it's probably going to be some leftist freak that make Biden look like Reagan.

I'll get this out of the way in advance: Thanks MAGA!!!

The LCD thing is really working out for America!

 

Thats why adults should be running the country, not a mental midget and grandpa soiling his depends. Now we get to look forward to absolute hell for the foreseeable future unless the public wises up, which looking at Gen Z, we are in big trouble...

 

Process just gets more vapid and brain dead every cycle. Outside of something really bad happening, I don't see the trend reversing. Thus, it won't be a common-sense centrist to oust MAGA, but something equally stupid and unhinged.

Again, partisanship aside, if you want to go full right, why not DeSantis? I may not like him personally, but I can live with it and feel confident he isn't trying to destroy everything. Ironically, if you're conservative, you probably get more of what you want with DeSantis or even Haley along with policies that would actually stick.

 

Keep breaking stuff. Enjoying my popcorn

 

You are right, DeSantis would be alot better at actually running things, but his personality will prevent him from going any higher. Ive noticed that dumb people like to get dolled up and lied to before they get f*****, hence why we get McDonald and bent carrot Biden.

 

Yeah, you're right. He's going to have to find something genuine in himself and his campaign if he wants to rise higher. Maybe that's why he wants to keep that Senate seat safe. Maybe if he could just be the guy he was the first two years as Governor, the guy I called "Common Sense Ron". You could tell (and I'm assuming MAGA did too) that his turn to MAGA was disingenuous.

 

Chase liquidated most of their MBS long before the crash.

 

Please get this book and educate yourself.

Hidden in Plain Sight: What Really Caused the World's Worst Financial Crisis¿and Why It Could Happen Again|eBook

 

Wrong on everything, huh?? If you were as smart as you think you were you would really be something.

With Glass-Steagal, commercial banks would not have been allowed to invest in MBS and CDOs, thus drying up a significant source of capital to fund all of the sub-prime, and higher risk mortgages.

Again, read the book. $20 is not a lot to spend on your own knowledge and intelligence. At least it will prevent the embarrassment to you of this exchange.

 

It’s obvious that the vast majority was taken by surprise, but the info was out there for those with there eyes open. Dimon had publicly stated concern on MBS and CDOs and either reduced or liquidated Chase’s holdings.


Back when National Review was a good source of information, I read two articles by Andrew Laperriere called “House of Cards” and “Housing Bubble Trouble” in 2007. Both laid out what had been going on and what was likely to happen, and he was correct. Unlike many doom and gloom articles , these were not sensationalized and made perfect sense. That led me to getting completely out of the stock market before all of the shit went down. I consider myself fortunate to have found those articles.

 

When do you expect to see "the next Dem admin"? Or another legitimate election?

 

Will not be wasting my time with that. Again, last bullet point. Classic example of "blame the poor". You know it's bullshit when it whines about Dodd Frank, which didn't reinstitute Glass Seagal and was written by the very people it's supposed to regulate. When you're crying about "how restrictive" Dodd Frank is, you have zero credibility.

 

Everyone knew it was "coming" but they also thought they'd be the smart ones who'd get off the bus before it crashed. That's how these things work. Nobody wants to be the first off and miss out on potential future gains. That's how bubbles work.

 

Of course - how dare those poor people get houses. Not that there would have been a crisis if those bad mortgages weren't packaged and sold like they were safe investments. But of course - blame the poor, blame the government. Anyone but the private sector...

 

eliminating Glass-Steagel was stupidity at it's finest, bought and paid for, insured by the us treasury. Slick Wilie actually thought he could trust the banks to not take too much risk

now that we have the bankruptcy king for potus, all bets are really off

 

Exactly. WITH Glass Stegal the commercial banks have to continue to be commercial banks and not get into speculative crap like that. But when they merged with the investments banks, that all went away, right? Yeah, of course it did. And now they've basically got a gun to the head of the commercial side that they'll use as leverage to save or enrich the investment side. . . or get a bailout when their schemes go butts up.

 

He didn't care as long as the campaign $$$$$ kept flowing in. That was his biggest contribution to American politics, allowing the D's to catch up to the R's in fundraising. Oh, and letting Robert Rubin lay the foundation for 2008.