'A Healthy Financial System Cannot Be Built on the Expectation of Bailouts'

  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 12:10 AM GMT
    A very good article on our fucked financial system.

    "...5) Adjustments to our regulatory framework, including the Dodd-Frank financial reform legislation, have not fixed the core problems that brought us to bring of complete catastrophe in fall 2008. Powerful people at the heart of our financial system still have the incentive and ability to take on large amounts of reckless risk - through borrowing large amounts relative to their equity. When things go well, a few CEOs and a small number of others get huge upside.

    6) When things go badly, society, ordinary citizens, and taxpayers get the downside. This is a classic recipe for financial instability. ..."



    http://tinyurl.com/6jjfgub
  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 1:34 AM GMT
    southbeach1500 said
    Caslon17000 saidA very good article on our fucked financial system.

    "...5) Adjustments to our regulatory framework, including the Dodd-Frank financial reform legislation, have not fixed the core problems that brought us to bring of complete catastrophe in fall 2008. Powerful people at the heart of our financial system still have the incentive and ability to take on large amounts of reckless risk - through borrowing large amounts relative to their equity. When things go well, a few CEOs and a small number of others get huge upside.

    6) When things go badly, society, ordinary citizens, and taxpayers get the downside. This is a classic recipe for financial instability. ..."



    http://tinyurl.com/6jjfgub


    Yes.... but take a look at the $1.5 Trillion per year that the Federal government have added to the national debt over the past 3 years... and the projections are that we will be adding at least another $1 Trillion per year for the rest of the decade.

    This government is going to implode and it will bring down the entire U.S. economy as well.


    Stay on topic, please...
  • conservativej...

    Posts: 2465

    Mar 06, 2011 3:08 PM GMT
    southbeach1500 said
    Caslon17000 saidA very good article on our fucked financial system.

    "...5) Adjustments to our regulatory framework, including the Dodd-Frank financial reform legislation, have not fixed the core problems that brought us to bring of complete catastrophe in fall 2008. Powerful people at the heart of our financial system still have the incentive and ability to take on large amounts of reckless risk - through borrowing large amounts relative to their equity. When things go well, a few CEOs and a small number of others get huge upside.

    6) When things go badly, society, ordinary citizens, and taxpayers get the downside. This is a classic recipe for financial instability. ..."



    http://tinyurl.com/6jjfgub


    Yes.... but take a look at the $1.5 Trillion per year that the Federal government have added to the national debt over the past 3 years... and the projections are that we will be adding at least another $1 Trillion per year for the rest of the decade.

    This government is going to implode and it will bring down the entire U.S. economy as well.


    Something tells me SouthBeach is well underway in preparing for the impending implosion. After all, there has been evidence for some time, both politically and within the economy, that an implosion was approaching at a rapid rate.

    This is a time when liberals (and even conservative big spenders) in America will learn the hard way. Stating here your beliefs in opposition to theirs is not unlike trying to overflow the ocean by taking a piss in it.

    Time will tell if America survives Phase II of "the great experiment."

  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 5:03 PM GMT
    southbeach1500 said
    Christian73 said

    Stay on topic, please...


    What I wrote is 100% on topic.

    The fact that you don't comprehend that is more evidence that liberals are destroying the country and they don't even realize it.


    The only way in which the debt is related to the financial system is that in both cases you do not want any taxes or regulation on any of it.

    Do you realize how ridiculous it is for you to constantly harp on the deficit, while screeching about taxes at a time when 60% of corporations pay no federal income tax, marginal rates for millionaires are the lowest in forty years, and we have real unemployment of 15 or 16%?
  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 5:14 PM GMT
    southbeach1500 said
    Caslon17000 saidA very good article on our fucked financial system.

    "...5) Adjustments to our regulatory framework, including the Dodd-Frank financial reform legislation, have not fixed the core problems that brought us to bring of complete catastrophe in fall 2008. Powerful people at the heart of our financial system still have the incentive and ability to take on large amounts of reckless risk - through borrowing large amounts relative to their equity. When things go well, a few CEOs and a small number of others get huge upside.

    6) When things go badly, society, ordinary citizens, and taxpayers get the downside. This is a classic recipe for financial instability. ..."



    http://tinyurl.com/6jjfgub


    Yes.... but take a look at the $1.5 Trillion per year that the Federal government have added to the national debt over the past 3 years... and the projections are that we will be adding at least another $1 Trillion per year for the rest of the decade.

    This government is going to implode and it will bring down the entire U.S. economy as well.

    You seem to refuse to acknowledge the connection between that heavy federal spending and the reckless financial dealings of the financial community. O didn't just spend all that money. He HAD TO spend that money to prevent this Great Recession from becoming a Great Depression II. And that's the point of the article. Nothing has significantly changed to prevent the financial community from doing it all over again. And next time, the people won't be able to bail the country out.

    Now wake up, smell the coffee, and gain some credibility in your arguments by acknowledging the role and responsibility that the big banks and financial community had in this debacle.
  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 5:25 PM GMT
    southbeach1500 said
    Christian73 said
    The only way in which the debt is related to the financial system is that in both cases you do not want any taxes or regulation on any of it.


    Incorrect.


    Christian73 saidDo you realize how ridiculous it is for you to constantly harp on the deficit, while screeching about taxes at a time when 60% of corporations pay no federal income tax, marginal rates for millionaires are the lowest in forty years....


    ... and the government has added more debt since the Democrats took control of Congress in January of 2007 than all other Congresses combined in the entire history of the country.


    Christian73 saidwe have real unemployment of 15 or 16%?


    No, no, no, no, no!

    Unemployment is 8.9%.

    In fact, unemployment went from 9.8% to 9.0% in just one month with the addition of, what was it, 200,000 new jobs?

    And remember the 3 million jobs the Obama administration "saved or created?"

    icon_razz.gif



    Thanks for basically demonstrating how intellectually and morally bankrupt your arguments are.
  • Posted by a hidden member.
    Log in to view his profile

    Mar 06, 2011 6:00 PM GMT
    southbeach1500 said
    Christian73 said
    southbeach1500 said
    Christian73 said
    The only way in which the debt is related to the financial system is that in both cases you do not want any taxes or regulation on any of it.


    Incorrect.


    Christian73 saidDo you realize how ridiculous it is for you to constantly harp on the deficit, while screeching about taxes at a time when 60% of corporations pay no federal income tax, marginal rates for millionaires are the lowest in forty years....


    ... and the government has added more debt since the Democrats took control of Congress in January of 2007 than all other Congresses combined in the entire history of the country.


    Christian73 saidwe have real unemployment of 15 or 16%?


    No, no, no, no, no!

    Unemployment is 8.9%.

    In fact, unemployment went from 9.8% to 9.0% in just one month with the addition of, what was it, 200,000 new jobs?

    And remember the 3 million jobs the Obama administration "saved or created?"

    icon_razz.gif



    Thanks for basically demonstrating how intellectually and morally bankrupt your arguments are.


    Liberal. icon_rolleyes.gif


    Logic and intellectual rigor are neither left nor right. As we have seen in the past couple of years, many Republicans have come forward saying taxes must be raised and spending must be cut.