http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/ Pat Cunningham offers an unabashedly liberal perspective on national politics. A note of caution: The language gets a litttle salty on some of the sites to which this blog links. So, don't say you weren't warned. By the way, this blog's name is inspired by the Will Rogers quote, "All politics is applesauce." Sat, 20 Mar 2010 09:46:31 +0000 http://wordpress.org/?v=wordpress-mu-1.2.4 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6523 Billybeermonicagar Tue, 16 Sep 2008 02:08:46 +0000 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6523 What was Henry Waxman doing? What was Henry Waxman doing?

]]> http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6521 Henry Tue, 16 Sep 2008 01:33:25 +0000 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6521 And W and the Republican controlled congress (for 6 years) didn't bother to re-instate it. They made drastic changes to the banking laws, why not Glass-Steagall? And W and the Republican controlled congress (for 6 years) didn’t bother to re-instate it. They made drastic changes to the banking laws, why not Glass-Steagall?

]]> http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6491 DingDong Mon, 15 Sep 2008 19:02:25 +0000 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6491 Look up the Glass-Steagall Act of 1933, this would have prevent some of this. Repealed by Clinton in 1999. Enough blame for all. Look up the Glass-Steagall Act of 1933, this would have prevent some of this. Repealed by Clinton in 1999. Enough blame for all.

]]> http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6457 swamprat Mon, 15 Sep 2008 04:01:57 +0000 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6457 This is a very complex problem. But it involves everyone from China, our government, realtors, appraisers, and home buyers. George Bush wanted an ownership society. So the government looked the other way as loans were made to people who couldn't afford them. Now those loans are failing. Those loans were sold off many times to investors. Now the loans are failing. In a free market system let them fail. Taxpayers should not bail them out for their mistakes. If they are bailed out it just postpones the end. It's just too bad that everyone will now have to suffer. If you think it doesn't affect you, your wrong. Many banks are involved in this. When the big boys go down, many banks will go down with them. There is not enough FDIC insurance to cover it all. We will see how far this will spread, but we are on the abyss and if we tip over the edge it will become a full on economic collapse. Thank you George Bush, Ben Benanke, and Hank Paulson. This is a very complex problem. But it involves everyone from China, our government, realtors, appraisers, and home buyers. George Bush wanted an ownership society. So the government looked the other way as loans were made to people who couldn’t afford them. Now those loans are failing. Those loans were sold off many times to investors. Now the loans are failing. In a free market system let them fail. Taxpayers should not bail them out for their mistakes. If they are bailed out it just postpones the end. It’s just too bad that everyone will now have to suffer.
If you think it doesn’t affect you, your wrong. Many banks are involved in this. When the big boys go down, many banks will go down with them. There is not enough FDIC insurance to cover it all.
We will see how far this will spread, but we are on the abyss and if we tip over the edge it will become a full on economic collapse. Thank you George Bush, Ben Benanke, and Hank Paulson.

]]> http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6453 Henry Mon, 15 Sep 2008 03:02:04 +0000 http://blogs.e-rockford.com/applesauce/2008/09/14/new-jitters-about-us-financial-system/#comment-6453 This is a result of lax oversight by the regulators. They knew what was going on and let it happen. More taxpayer money is going to be needed to keep the financial system stable. It's obscene that the executives of Fannie and Freddie who were fired are getting $23 million in severance. Something else to add to the W legacy. This is a result of lax oversight by the regulators. They knew what was going on and let it happen. More taxpayer money is going to be needed to keep the financial system stable. It’s obscene that the executives of Fannie and Freddie who were fired are getting $23 million in severance. Something else to add to the W legacy.

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