Voters should pay attention to this (unusually) strong and direct statement.
. Rush transcript (by yours truly) below points a devastating finger at the de-regulatory fanaticism that characterizes Bush and Bush's "understudy" McCain who voted 90% of the time with Bush, lack of "administering" by the bush "administration" and lack of oversights has caused this massive global meltdown.
Strong statement by Sir Richard Branson, founder and Chairman of Virgin Group. After some cautiously optimistic statements on the economy, this:
Q: You say cash is king, so finally, is not the time to get in the market or should people remain sitting on their hands making just a few percent holding cash right now?
A: I think that..if banks are allowed to lend amongst each other safely, securely, guaranteed by government,..there will be a rally in the market. But, in the longer term, I'm not sure that merkets are going to come roaring back. I think, there's quite a long-term stagflation (low economic growth and high inflation at the same time) ahead, a bit like Japan. We've all got ot get otu there and make sure that [doesn't happen], and try to work out way out of it, but, a handful of people in America, and in Europe, have completely and utterly screwed, you know, screwed the markets, for some time.
Q: Who?
A: A few bankers, a few mortgage people [lenders], and _terrible_ _regulation_, and, you know, I mean, this administration in America [the Bush Administration] did not.. did not _administer_, and therefore the whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to hear. But "Paying for it" on Bush's extremist de-regulatory dogma and lack of oversight, certainly]
And find 'Long-term stagflation ahead' from menu which loads in lower half of screen.
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Tom
2008-10-12 21:48:24 EST
EconomicDemocracy Coop wrote: > Voters should pay attention to this (unusually) strong and direct > statement. > > . Rush transcript (by yours truly) below points a devastating finger > at the de-regulatory fanaticism that characterizes Bush and Bush's > "understudy" McCain who voted 90% of the time with Bush, lack of > "administering" by the bush "administration" and lack of oversights > has caused this massive global meltdown. > > Strong statement by Sir Richard Branson, founder and Chairman of > Virgin Group. After some cautiously optimistic statements on the > economy, this: > > Q: You say cash is king, so finally, is not the time to get in the > market > or should people remain sitting on their hands making just a few > percent holding cash right now? > > A: I think that..if banks are allowed > to lend amongst each other safely, securely, guaranteed by > government,..there will be a rally in the market. But, in the longer > term, I'm not sure that merkets are going to come roaring back. I > think, there's quite a long-term stagflation (low economic growth and > high inflation at the same time) ahead, a bit like Japan. We've all > got ot get otu there and make sure that [doesn't happen], and try to > work out way out of it, but, a handful of people in America, and in > Europe, have completely and utterly screwed, you know, screwed the > markets, for some time. > > Q: Who? > > A: A few bankers, a few mortgage people [lenders], and _terrible_ > _regulation_, and, you know, I mean, this administration in America > [the Bush > Administration] did not.. did not _administer_, and therefore the > whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to > hear. But "Paying for it" on Bush's extremist de-regulatory dogma and > lack of oversight, certainly] > > CNNmoney.com -- 'Long-term stagflation ahead' 4:58 > > Billionaire Richard Branson says 'terrible regulation' and a few > individuals in banking and mortgages are to blame for the financial > crisis. > I guess he doesn't know how the US system works. Its the congress that passes the laws.
Vandar
2008-10-12 22:26:00 EST
EconomicDemocracy Coop wrote:
> Voters should pay attention to this (unusually) strong and direct > statement. > > . Rush transcript (by yours truly) below points a devastating finger > at the de-regulatory fanaticism that characterizes Bush and Bush's > "understudy" McCain who voted 90% of the time with Bush, lack of > "administering" by the bush "administration" and lack of oversights > has caused this massive global meltdown. > > Strong statement by Sir Richard Branson, founder and Chairman of > Virgin Group. After some cautiously optimistic statements on the > economy, this: > > Q: You say cash is king, so finally, is not the time to get in the > market > or should people remain sitting on their hands making just a few > percent holding cash right now? > > A: I think that..if banks are allowed > to lend amongst each other safely, securely, guaranteed by > government,..there will be a rally in the market. But, in the longer > term, I'm not sure that merkets are going to come roaring back. I > think, there's quite a long-term stagflation (low economic growth and > high inflation at the same time) ahead, a bit like Japan. We've all > got ot get otu there and make sure that [doesn't happen], and try to > work out way out of it, but, a handful of people in America, and in > Europe, have completely and utterly screwed, you know, screwed the > markets, for some time. > > Q: Who? > > A: A few bankers, a few mortgage people [lenders], and _terrible_ > _regulation_, and, you know, I mean, this administration in America > [the Bush > Administration] did not.. did not _administer_, and therefore the > whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to > hear. But "Paying for it" on Bush's extremist de-regulatory dogma and > lack of oversight, certainly] > > CNNmoney.com -- 'Long-term stagflation ahead' 4:58 > > Billionaire Richard Branson says 'terrible regulation' and a few > individuals in banking and mortgages are to blame for the financial > crisis. > > http://money.cnn.com/video/#/video/news/2008/10/09/news.patel.100908.cnnmoney
Oversight is Congress' job. It was proposed back in 2004 and 2005, but the Democrats vehemently opposed it, saying that Fannie & Freddie were fine (Barney Frank, Maxine Waters) and subprime loans are a good thing (Obama) while Republicans were warning that they needed more regulation and oversight on the GSEs (McCain).
EconomicDemocracy Coop
2008-10-12 22:57:07 EST
On Oct 12, 9:48 pm, Tom <s...@p.py> wrote: > EconomicDemocracy Coop wrote: > > Voters should pay attention to this (unusually) strong and direct > > statement. > > > . Rush transcript (by yours truly) below points a devastating finger > > at the de-regulatory fanaticism that characterizes Bush and Bush's > > "understudy" McCain who voted 90% of the time with Bush, lack of > > "administering" by the bush "administration" and lack of oversights > > has caused this massive global meltdown. > > > Strong statement by Sir Richard Branson, founder and Chairman of > > Virgin Group. After some cautiously optimistic statements on the > > economy, this: > > > Q: You say cash is king, so finally, is not the time to get in the > > market > > or should people remain sitting on their hands making just a few > > percent holding cash right now? > > > A: I think that..if banks are allowed > > to lend amongst each other safely, securely, guaranteed by > > government,..there will be a rally in the market. But, in the longer > > term, I'm not sure that merkets are going to come roaring back. I > > think, there's quite a long-term stagflation (low economic growth and > > high inflation at the same time) ahead, a bit like Japan. We've all > > got ot get otu there and make sure that [doesn't happen], and try to > > work out way out of it, but, a handful of people in America, and in > > Europe, have completely and utterly screwed, you know, screwed the > > markets, for some time. > > > Q: Who? > > > A: A few bankers, a few mortgage people [lenders], and _terrible_ > > _regulation_, and, you know, I mean, this administration in America > > [the Bush > > Administration] did not.. did not _administer_, and therefore the > > whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to > > hear. But "Paying for it" on Bush's extremist de-regulatory dogma and > > lack of oversight, certainly] > > > CNNmoney.com -- 'Long-term stagflation ahead' 4:58 > > > Billionaire Richard Branson says 'terrible regulation' and a few > > individuals in banking and mortgages are to blame for the financial > > crisis. > > I guess he doesn't know how the US system works. Its the congress that > passes the laws.
The laws were already on the book. Hint: read what he said. He didn't say "failure to legistlate". It was failure to enforce the law. But you knew that. Facts don't matter. It's all the fault of everybody EXCEPT the Bush Administration, hey, don't look at us, we're only the ones supposed to make sure the laws on the books are followed.. Keep repeating "liberals!" and "you're with us or you're with the commies, I mean terrorists!" and hope people don't pay attention to the facts, same strategy as McSame
Tom
2008-10-13 06:44:42 EST
EconomicDemocracy Coop wrote: > On Oct 12, 9:48 pm, Tom <s...@p.py> wrote: >> EconomicDemocracy Coop wrote: >>> Voters should pay attention to this (unusually) strong and direct >>> statement. >>> . Rush transcript (by yours truly) below points a devastating finger >>> at the de-regulatory fanaticism that characterizes Bush and Bush's >>> "understudy" McCain who voted 90% of the time with Bush, lack of >>> "administering" by the bush "administration" and lack of oversights >>> has caused this massive global meltdown. >>> Strong statement by Sir Richard Branson, founder and Chairman of >>> Virgin Group. After some cautiously optimistic statements on the >>> economy, this: >>> Q: You say cash is king, so finally, is not the time to get in the >>> market >>> or should people remain sitting on their hands making just a few >>> percent holding cash right now? >>> A: I think that..if banks are allowed >>> to lend amongst each other safely, securely, guaranteed by >>> government,..there will be a rally in the market. But, in the longer >>> term, I'm not sure that merkets are going to come roaring back. I >>> think, there's quite a long-term stagflation (low economic growth and >>> high inflation at the same time) ahead, a bit like Japan. We've all >>> got ot get otu there and make sure that [doesn't happen], and try to >>> work out way out of it, but, a handful of people in America, and in >>> Europe, have completely and utterly screwed, you know, screwed the >>> markets, for some time. >>> Q: Who? >>> A: A few bankers, a few mortgage people [lenders], and _terrible_ >>> _regulation_, and, you know, I mean, this administration in America >>> [the Bush >>> Administration] did not.. did not _administer_, and therefore the >>> whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to >>> hear. But "Paying for it" on Bush's extremist de-regulatory dogma and >>> lack of oversight, certainly] >>> CNNmoney.com -- 'Long-term stagflation ahead' 4:58 >>> Billionaire Richard Branson says 'terrible regulation' and a few >>> individuals in banking and mortgages are to blame for the financial >>> crisis. >> I guess he doesn't know how the US system works. Its the congress that >> passes the laws. > > The laws were already on the book. Hint: read what he said. He didn't > say "failure to legistlate". It was failure to enforce the law. But > you knew that. Facts don't matter. It's all the fault of everybody > EXCEPT the Bush Administration, hey, don't look at us, we're only the > ones supposed to make sure the laws on the books are followed.. Keep > repeating "liberals!" and "you're with us or you're with the commies, > I mean terrorists!" and hope people don't pay attention to the facts, > same strategy as McSame that too is congress job.
TimeOday
2008-10-13 10:09:41 EST
EconomicDemocracy Coop wrote: > On Oct 12, 9:48 pm, Tom <s...@p.py> wrote: >> EconomicDemocracy Coop wrote: >>> Voters should pay attention to this (unusually) strong and direct >>> statement. >>> . Rush transcript (by yours truly) below points a devastating finger >>> at the de-regulatory fanaticism that characterizes Bush and Bush's >>> "understudy" McCain who voted 90% of the time with Bush, lack of >>> "administering" by the bush "administration" and lack of oversights >>> has caused this massive global meltdown. >>> Strong statement by Sir Richard Branson, founder and Chairman of >>> Virgin Group. After some cautiously optimistic statements on the >>> economy, this: >>> Q: You say cash is king, so finally, is not the time to get in the >>> market >>> or should people remain sitting on their hands making just a few >>> percent holding cash right now? >>> A: I think that..if banks are allowed >>> to lend amongst each other safely, securely, guaranteed by >>> government,..there will be a rally in the market. But, in the longer >>> term, I'm not sure that merkets are going to come roaring back. I >>> think, there's quite a long-term stagflation (low economic growth and >>> high inflation at the same time) ahead, a bit like Japan. We've all >>> got ot get otu there and make sure that [doesn't happen], and try to >>> work out way out of it, but, a handful of people in America, and in >>> Europe, have completely and utterly screwed, you know, screwed the >>> markets, for some time. >>> Q: Who? >>> A: A few bankers, a few mortgage people [lenders], and _terrible_ >>> _regulation_, and, you know, I mean, this administration in America >>> [the Bush >>> Administration] did not.. did not _administer_, and therefore the >>> whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to >>> hear. But "Paying for it" on Bush's extremist de-regulatory dogma and >>> lack of oversight, certainly] >>> CNNmoney.com -- 'Long-term stagflation ahead' 4:58 >>> Billionaire Richard Branson says 'terrible regulation' and a few >>> individuals in banking and mortgages are to blame for the financial >>> crisis. >> I guess he doesn't know how the US system works. Its the congress that >> passes the laws. > > The laws were already on the book. Hint: read what he said. He didn't > say "failure to legistlate". It was failure to enforce the law. But > you knew that. Facts don't matter. It's all the fault of everybody > EXCEPT the Bush Administration, hey, don't look at us, we're only the > ones supposed to make sure the laws on the books are followed.. Keep > repeating "liberals!" and "you're with us or you're with the commies, > I mean terrorists!" and hope people don't pay attention to the facts, > same strategy as McSame
Besides, for his first 6 years, Bush had Congress in his pocket (Republican majority), so they were practically one in the same.
EconomicDemocracy Coop
2008-10-13 13:04:37 EST
On Oct 13, 6:44 am, Tom <s...@p.py> wrote: > EconomicDemocracy Coop wrote: > > On Oct 12, 9:48 pm, Tom <s...@p.py> wrote: > >> EconomicDemocracy Coop wrote: > >>> Voters should pay attention to this (unusually) strong and direct > >>> statement. > >>> . Rush transcript (by yours truly) below points a devastating finger > >>> at the de-regulatory fanaticism that characterizes Bush and Bush's > >>> "understudy" McCain who voted 90% of the time with Bush, lack of > >>> "administering" by the bush "administration" and lack of oversights > >>> has caused this massive global meltdown. > >>> Strong statement by Sir Richard Branson, founder and Chairman of > >>> Virgin Group. After some cautiously optimistic statements on the > >>> economy, this: > >>> Q: You say cash is king, so finally, is not the time to get in the > >>> market > >>> or should people remain sitting on their hands making just a few > >>> percent holding cash right now? > >>> A: I think that..if banks are allowed > >>> to lend amongst each other safely, securely, guaranteed by > >>> government,..there will be a rally in the market. But, in the longer > >>> term, I'm not sure that merkets are going to come roaring back. I > >>> think, there's quite a long-term stagflation (low economic growth and > >>> high inflation at the same time) ahead, a bit like Japan. We've all > >>> got ot get otu there and make sure that [doesn't happen], and try to > >>> work out way out of it, but, a handful of people in America, and in > >>> Europe, have completely and utterly screwed, you know, screwed the > >>> markets, for some time. > >>> Q: Who? > >>> A: A few bankers, a few mortgage people [lenders], and _terrible_ > >>> _regulation_, and, you know, I mean, this administration in America > >>> [the Bush > >>> Administration] did not.. did not _administer_, and therefore the > >>> whole world is ["out in the cold"? "screwed"?"caught a cold?" hard to > >>> hear. But "Paying for it" on Bush's extremist de-regulatory dogma and > >>> lack of oversight, certainly] > >>> CNNmoney.com -- 'Long-term stagflation ahead' 4:58 > >>> Billionaire Richard Branson says 'terrible regulation' and a few > >>> individuals in banking and mortgages are to blame for the financial > >>> crisis. > >> I guess he doesn't know how the US system works. Its the congress that > >> passes the laws. > > > The laws were already on the book. Hint: read what he said. He didn't > > say "failure to legistlate". It was failure to enforce the law. But > > you knew that. Facts don't matter. It's all the fault of everybody > > EXCEPT the Bush Administration, hey, don't look at us, we're only the > > ones supposed to make sure the laws on the books are followed.. Keep > > repeating "liberals!" and "you're with us or you're with the commies, > > I mean terrorists!" and hope people don't pay attention to the facts, > > same strategy as McSame > > that too is congress job.
"The United States Department of the Treasury enforces all existing US Laws of a financial nature"
Sorry, you're right, we're wrong, the full wikipedia entry says: "The United States Department of the Treasury enforces all existing US Laws of a financial nature UNLESS it's s Republican President and something bad happens. In that case, it's all the fault of the liberals!" My bad. </sarcasm>