Income Inequality

[island1fox]

rr,
Snopes --

You must be kidding ---"Mostly" untrue that the young attorney Was TOTALLY responsible for the Housing collapse.

Also the suit was not" REALLY" about people who could not afford to pay the loans back--just about not enough minorities and poor people ---who in fact years later could not pay back the loans.

In summary --the lawsuits on banks --Janet Renos red circling--Clinton's Glass/Steagle--Bush bragging about high numbers of minority homeowners --Government backed loans ---NOW AND ONLY NOW --Wall street bundling and selling derivatives.

I know this is all above your pay grade --no-one said Obama was TOTALLY to blame for the housing failure --nor was Clinton or BUSH ---but even the most uniformed and uneducated can easily see --without GOVERNMENT involvement in the private housing market ----WALL street would have had NO RISKY LOANS TO SELL !!

The GOVERNMENTchicken laid the Golden egg for the greedy Wall Street people to sell . No egg --no sale --no collapse!

 

[brett636]

How convenient is that?! We owed it to Wall Street to bail them out because we the government were "meddling". Do you really believe the ridiculous things you post?

The things I post are based on fact so yes I fully believe them. With that being said islandfox has illustrated my point perfectly. The government did orchestrate the financial collapse of 2007(knowingly or unknowingly is the question), which led to the bailouts and the following recession.

 

[roadrunner2012]

The things I post are based on fact so yes I fully believe them. With that being said islandfox has illustrated my point perfectly. The government did orchestrate the financial collapse of 2007(knowingly or unknowingly is the question), which led to the bailouts and the following recession.

Wait a minute, now your saying it was Bush's fault?

 

[roadrunner2012]

island, didn't Wall Street write the laws that allowed them to partake in the 'risky business'?

 

[Catatonic]

Wait a minute, now your saying it was Bush's fault?

LOL ... you have the right to bitch about that, infringing on your mantra.

 

[island1fox]

island, didn't Wall Street write the laws that allowed them to partake in the 'risky business'?

rr,

Please . I believe you are a little --maybe a lot -confused.

Congress passes laws.
Bush was part of the Government that Social engineered the Collapse.

Wall Street does not "write" any laws --they may Lobby Congress --but do not MAKE the Laws.

Wall Street will get away with what they can --walking a very thin line on legality---but again --should not be too hard to get to the BOTTOM LINE--The Government --maybe with the best INTENTIONS --was the cause of the Housing Collapse.

Chicken --then egg !!

 

[island1fox]

With a few notable exceptions --Wkmac-Hoax-Brett --It seems that many are caught up with --It was Obama's fault or it was Bushe's fault --Like it was a Super Bowl or something.

No one claims all of Wall Street is run by a group of Angels --but for any one with a little Common Sense -----Government is the ROOT cause of Many of our Problems and the result of many , many years of making bad decisions - for votes --the housing and financial crash hurt all of us. To simply say Wall Street dropped the "last hail Mary pass and lost the game --is absurd !! What happened to the other 59 minutes and 59 seconds ???

If all of us would hold Politicians accountable --they have to obey and be subject to the same laws they pass on us ---When they lie or break their word --throw them out of office --not say well the guy before him did it --they divide us and play us for fools with pom-poms in our hands.

Term Limits should be a must. The life long Politician is too far removed from reality !!

 

[roadrunner2012]

island, do you really think that Congress writes the laws? Do you believe in the Easter Bunny, too?

Congress is bought and paid for, and do exactly as they are told. It ain't exactly the 'Will of the People', unless you consider 'The People' to be those who fund the campaigns.

 

[island1fox]

o/k --this is not Rocket Science for most --for others ??? No clue. Congress does write the laws.

Business, Unions, Wall street can LOBBY --they do not write the laws --pass the laws or enforce the laws.

Who wrote OBAMACARE --Santa Claus ???

 

[bbsam]

o/k --this is not Rocket Science for most --for others ??? No clue. Congress does write the laws.

Business, Unions, Wall street can LOBBY --they do not write the laws --pass the laws or enforce the laws.

Who wrote OBAMACARE --Santa Claus ???

no. The insurance lobby.

 

[island1fox]

The Insurance lobby wrote the Law --O/k if that's want you want to believe.

All groups Lobby and ask the politicians to write the laws favorable to them -You believe they actually write the laws ???

It does serve the purpose of Obama and the Dems do not know what was in it !!!

Are these the same Insurance Companies that now have too many high risk and sick people --the young and Healthy not signing up --that will eventually go bankrupt --unless Obama tries to Bail them out ???

 

[Catatonic]

The Insurance lobby wrote the Law --O/k if that's want you want to believe.

All groups Lobby and ask the politicians to write the laws favorable to them -You believe they actually write the laws ???

This is not that unusual.
Why should a Senator or Congressman spend their staff time writing a law that is favorable for an industry or a specific company. The scope is limited and focused on a specific area.
The fact that the insurance companies wrote most of ACA is a bit unusual since it is so far reaching across all citizens and companies.
The companies can afford it.

 

[island1fox]

This is not that unusual.
Why should a Senator or Congressman spend their staff time writing a law that is favorable for an industry or a specific company. The scope is limited and focused on a specific area.
The fact that the insurance companies wrote most of ACA is a bit unusual since it is so far reaching across all citizens and companies.
The companies can afford it.

Hoax,

look at the size of their staffs--also we pay for the staffs -- so the Politicians see it as free.
The politicians do nothing-- their staffs do the work including combining info from fellow politicians and committees along with the requests or demands from the various lobbies.Then the law is written.

 

[roadrunner2012]

http://news.firedoglake.com/2013/05/27/wall-street-lobbyists-literally-writing-bills-in-congress/

http://www.npr.org/blogs/itsallpolitics/2013/11/11/243973620/when-lobbyists-literally-write-the-bill

http://www.washingtonmonthly.com/archives/individual/2011_03/028512.php

http://www.commonblog.com/2011/08/24/lobbyists-writing-legislation-nothing-new/

http://www.cis.org/miano/when-lobbyists-write-bills

 

[Catatonic]

Hoax,

look at the size of their staffs--also we pay for the staffs -- so the Politicians see it as free.
The politicians do nothing-- their staffs do the work including combining info from fellow politicians and committees along with the requests or demands from the various lobbies.Then the law is written.

Look Fox,
I don't know why you are riding this dead horse but it just makes you look uninformed.
Lawyers for companies and special interests were writing laws for Congress 150 years ago and continue to do so. That does not mean it is verbatim but often it is close. And it does not mean there is anything wrong with the practice. It really doesn't matter who writes the verbiage of the law and the terms and conditions.
All that matters is that Congresses passes whatever is in the bill.
Of course, Congresspersons will take credit for and sponsor the bill when little of it came from them or their staff because getting the bill passed is what is important.

 

[bbsam]

so island, you would have laws written by representatives, senators, and their aides? How? All they've really done is won an expensive popularity contest. This is why they really could pass the bill before they knew what was in it. The lobbyists told them so. I would be willing to bet they still haven't read the ACA.

 

[bbsam]

Notice that you don't see the insurance industry lobbying for the repeal of Obamacare. Some might take shots at it, but it's in their financial best interest to make it work.

 

[island1fox]

Look Fox,
I don't know why you are riding this dead horse but it just makes you look uninformed.
Lawyers for companies and special interests were writing laws for Congress 150 years ago and continue to do so. That does not mean it is verbatim but often it is close. And it does not mean there is anything wrong with the practice. It really doesn't matter who writes the verbiage of the law and the terms and conditions.
All that matters is that Congresses passes whatever is in the bill.
Of course, Congresspersons will take credit for and sponsor the bill when little of it came from them or their staff because getting the bill passed is what is important.

Hoax,

LOOK FOX ?? Having a bad day -or hanging out with TOS too much. Before accusing me of beating a dead horse-How about a little accuracy here:

Google government 101 :

Bills are submitted to Congress-- after hearings, markups, amendments-rewrites--going through a very long process --the Bill May become a law -if the President signs it.

1. Do not confuse Bill vs Law --Wall street , unions whomever --do NOT write laws
2. Anyone can submit a Bill --all bills including spending --must be introduced by a Congressman in the House

3. All Bills --except -spending -can be introduced by a Senator
4. The Bill is assigned to a Committee
5. Committee hearings are held where bills are marked--Amended-and re-written by the Committee.
6. Still called a Bill --It is debated on the floor--Amended again and the bill is voted on.
7. If Bill is passed it goes through Reconciliation ---from the other Body --to again change-- amend -re-write and reconcile.
8. After rewritten RECONCILATED Bill --goes to the President --To be Signed into Law --or not.

Not as simple as the inaccurate statement --"WALL STREET WROTE THOSE LAWS"

For people to make such simple conclusive statements and do not know the process ---I do not ride dead horses --but for those that do not understand --Bills travel a very long and changing road --through Congress before being signed into Law. I never said Interests groups do not submit Bills and try to get things passed in their favor ---but they do not"write" Law.

 

[island1fox]

Hoax,

I realize as a MOD you stay on top of many threads. While the word "Bill" or "Law" may not make a difference to you on face value --in my discussion with rr --He was putting total blame on Wall Street for the financial Housing Collapse.
My point to him WITHOUT government involvement --there would have been no risky loans to bundle and sell.

Even if Wall Street wrote the "bills" that was the basis for financial lending law ---It had to travel through CONGRESS --Change or no change ---the bill became law by the actions of Congress and the President.

 

[upschuck]

1. Do not confuse Bill vs Law --Wall street , unions whomever --do NOT write laws
2. Anyone can submit a Bill --all bills including spending --must be introduced by a Congressman in the House

3. All Bills --except -spending -can be introduced by a Senator
4. The Bill is assigned to a Committee
5. Committee hearings are held where bills are marked--Amended-and re-written by the Committee.
6. Still called a Bill --It is debated on the floor--Amended again and the bill is voted on.
7. If Bill is passed it goes through Reconciliation ---from the other Body --to again change-- amend -re-write and reconcile.
8. After rewritten RECONCILATED Bill --goes to the President --To be Signed into Law --or not

Oldie but goodie