Tree wrote: ↑Tue Oct 11, 2022 11:20 pm
If the politicians you vote for are not even trying to fix these issues, you're part of the problem.
Lets be honest about 2008 for just a moment.
10,000,000 people lost their homes because 10,000,000 people each made 10,000,000 individual decisions to turn their keys back into the bank since they were
vastly upside down on the note, no equity
they couldn't refinance but most of all
they never put any money down when they bought the house
Its very easy to walk away from a house if you didn't put any real money into it to buy it in the first place. Just mail the keys to the bank, walk away, and fuck over our economy. The only thing it costs you, is your credit rating.
And lets get one thing straight about TARP, that was a money MAKER for the taxpayer. $125 billion was "invested" into the banks, $125,000,000,000. That is what they got from the taxpayer. And you know what the taxpayer got from the banks? They got ALL that money back PLUS interest. PLUS interest.
There was only one entity who refused to pay their TARP money back and the taxpayer took it on the chin, the automotive industry. TARP loaned billions to GM and Ford and got none of it back, none. The Fed wrote it off because POTUS Obama told them to write it off because the people employed at GM and Ford are UAW workers and they vote democrat.
Not going to get into how the right twists personal responsibility and turns it into an excuse for the rich and powerful to ignore the suffering they caused, but 2008 happened because Glass Steagall got torn out. The next time your rightie news outlet of choice tells you regulation is bad, think it over.
And TARP was a joke. Bailed out a bunch of gangsters. The same ones who had figured out how to bypass the rules of the system and knew they would never be held accountable. Instead of going to prison we paid them for committing their crimes. You spent a good bit of time talking about a few billion in interest that went to defense and pork not "taxpayers", but what about the trillions upon trillions of fake money the Fed printed and gave away to the banks? Instead of helping the average American with jobs, infrastructure, or those about to lose their homes, most of it went to executive bonuses, stock buybacks, and predatory loans.
Tree wrote: ↑Tue Oct 11, 2022 11:20 pm
If the politicians you vote for are not even trying to fix these issues, you're part of the problem.
Lets be honest about 2008 for just a moment.
10,000,000 people lost their homes because 10,000,000 people each made 10,000,000 individual decisions to turn their keys back into the bank since they were
vastly upside down on the note, no equity
they couldn't refinance but most of all
they never put any money down when they bought the house
Its very easy to walk away from a house if you didn't put any real money into it to buy it in the first place. Just mail the keys to the bank, walk away, and fuck over our economy. The only thing it costs you, is your credit rating.
And lets get one thing straight about TARP, that was a money MAKER for the taxpayer. $125 billion was "invested" into the banks, $125,000,000,000. That is what they got from the taxpayer. And you know what the taxpayer got from the banks? They got ALL that money back PLUS interest. PLUS interest.
There was only one entity who refused to pay their TARP money back and the taxpayer took it on the chin, the automotive industry. TARP loaned billions to GM and Ford and got none of it back, none. The Fed wrote it off because POTUS Obama told them to write it off because the people employed at GM and Ford are UAW workers and they vote democrat.
Not going to get into how the right twists personal responsibility and turns it into an excuse for the rich and powerful to ignore the suffering they caused, but 2008 happened because Glass Steagall got torn out. The next time your rightie news outlet of choice tells you regulation is bad, think it over.
And TARP was a joke. Bailed out a bunch of gangsters. The same ones who had figured out how to bypass the rules of the system and knew they would never be held accountable. Instead of going to prison we paid them for committing their crimes. You spent a good bit of time talking about a few billion in interest that went to defense and pork not "taxpayers", but what about the trillions upon trillions of fake money the Fed printed and gave away to the banks? Instead of helping the average American with jobs, infrastructure, or those about to lose their homes, most of it went to executive bonuses, stock buybacks, and predatory loans.
Banks were not given "fake" money (printed money) from the Fed. They were given TARP money from Congress. An actual BILL was created and passed into law in the last few months of Dubya's administration forcing them to take it. Here it is:
Bank of America
Citigroup
Morgan Stanley
State Street
Wells Fargo
Bank of New York Mellon
Goldman Sacks
Merryl Lynch
JP Morgan
Boom, all the heavies, $125 billion of taxpayer money invested. That is what they got, the same money Lehman Brothers would have gotten if they didn't bankrupt first on Sept 15th, 2008. The heavies got that from congress to tide them over until they could unload all the foreclosed property that the market unloaded onto them because those 10,000,000 people didn't want to make any more mortgage payments.
And all nine paid it back WITH interest. They paid it back because they wanted to continue to pay their executives bonuses. They couldn't do that AND keep the TARP money "investment."
When debating and arguing with me, you damn well DO need to get into the weeds and the details. I just educated you. Do not say that they got trillions of printed money. That did not happen. It was exactly, PRECISELY, $125,000,000,000.
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 9:57 am
by hedge
"When debating and arguing with me, you damn well DO need to get into the weeds and the details. I just educated you."
Getting into the weeds for IB means posting a youtube video of the Hollywood version of the 2008 meltdown...
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 9:57 am
by Jungle Rat
Why do you lie IB?
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 10:17 am
by Tree
Yes I understand Tarp happened. Already talked about it. A few hundred billion is a drop in the bucket compared to what’s been needed to keep the broken system afloat since 2008. Look up the Cares Act not to mention the loan repo program that have transferred trillions from the 99% to the 1%. Some say the US is a business but that’s not quite right. It’s a legalized mafia. And both parties are all in.
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 10:46 am
by hedge
IB's version of getting into the weeds is a clip where a government official informs the CEO's of the largest banks in America that - as if this thought had never occurred to them - "if the financial system collapses, it will take every one of you down"..
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 10:52 am
by hedge
"A few hundred billion is a drop in the bucket compared to what’s been needed to keep the broken system afloat since 2008."
It was kinda funny in IB's clip where the guy is going across the table telling everybody how much they were going to get. "$10 billion for you, $20 billion for you, $2 billion for you." Those numbers seem quaint only 14 years later...
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 11:03 am
by hedge
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 11:06 am
by hedge
That's better than an M-80...
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 11:38 am
by Jungle Rat
He did that on purpose
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 11:48 am
by hedge
Why?
Re: Florida State Seminoles
Posted: Thu Oct 13, 2022 2:09 pm
by hedge
From an article whose headline is "FBI offered Christopher Steele $1 million to prove dossier claims, senior FBI analyst testifies"
"Durham appeared to break new ground on the well-trodden topic of the dossier, with his revelation about the $1 million offer to Steele. CNN previously reported that the FBI reimbursed some expenses for Steele, who had been an FBI informant.
But the special counsel also debunked a prolific Trump lie about the Steele dossier – that it was the reason why the FBI started investigating his campaign in 2016 for potentially conspiring with Russian agents.
Auten confirmed what has been known for many years: the probe was launched after the US government got intelligence from a friendly country that a Trump campaign aide had bragged to one of its diplomats that the Russians had offered to help Trump beat Hillary Clinton.
The situation was all the more interesting because Trump has repeatedly acted as a cheerleader for Durham and has said Durham will validate his suspicions about massive government misconduct regarding the Russia probe. On Tuesday, Durham inadvertently affirmed a basic truth about the Russia probe that Trump has lied about for years.
Regarding the collusion claims, special counsel Robert Mueller uncovered dozens of ties between Trump’s campaign and Russia, but did not establish a criminal conspiracy."