at the very least collusion between varying parties, where they both gain by twisting the law to their projected benefit... and also avoiding any legal consequence, lets not forget that.
-
As of today ICMag has his own Discord server. In this Discord server you can chat, talk with eachother, listen to music, share stories and pictures...and much more. Join now and let's grow together! Join ICMag Discord here! More details in this thread here: here.
Occupy Wall Street: Not on major media but worth watching!
- Thread starter Anti
- Start date
- Status
at the very least collusion between varying parties, where they both gain by twisting the law to their projected benefit... and also avoiding any legal consequence, lets not forget that.
at the very least IMO
Again, this is where you coming the the thinking that most things just randomly popped.
In my opinion we have to be thinking from the perspectives of those who benefit in the long term.
Those who benefit in the longer term are the designers of the whole ponzi scheme that is going on right now. Do you think that subprime was just an event of its own?
In reality it was the oficial beginning of something that they call the Great Recession nowadays.
Here is how I see who benefited from Subprime:
After the fall of Lehman and BS the interbanking market was down. The banks trust to eachother broke. So that was where Centralbanks came into the game. They offered smaller banks alot of priveleges to manipulate the inflation/deflation to keep printing as much paper as they possibly want.
Here is where subprime helps to those who are responsible for it.
so to say that things just popped is to be naive at very least. But that's just IMO.
You are thinking about this from the perspective of subprime and today. I am talking about 100 years. 98 actually.
Well now you are just twisting the analogy. Let me straighten it out for ya.
The guy was ignorant of her herpes just as the consumers screwed by the lender didn't know the ARMs were a poison pill and the FRMs a sugar pill. And the coont didn't volunteer she had herpes just like these con-lenders pushed ARMs on consumers.
The guy tried to mack on this other ho at the club that was more attractive but she thought she was too good for him. He was desperately horny for gash, so he had to settle for this dumb drunk skank that threw herself all over him after she peeped his wallet at the bar and convinced herself she saw a wad of $100s instead of $1s, because that was what she wanted to see.
This perfectly parallels how some of those consumers were declined for FRMs and the con-lenders moved mountains with bogus finance info to put the consumers into the ARMs. Hungry for the American Dream, someone offered and they jumped on it.
The guy wore the raincoat but it doesn't cover everything, just as consumer protections were insufficient. The free clinic is the bailout, and its the skank walking into it laughing because she stole the guy's wallet too. The wallet being the retirement savings of the middle class that went poof.
So yeah it was totally that bitch's fault you can't blame the guy.
I'm hoping the consumer protection agency will identify some of the major areas that need regulations. Extending loan opportunities to qualified minorities and lower middle class shouldn't translate to loaning to anything with a pulse, let alone setting up a system designed to fail while paying off the players.
One of the first areas of legal exploitation is knowing where the spirit of law isn't precisely written so that transgressions be efficiently mitigated through the legal system. This is where additional regulation plugs the gaps (if we see it.)
Let's face it. If one walks by an apple cart knowing they can steal w/o recourse, they might. If many pass, some will. Sometimes enough to threaten spanky spanky if it happens again.
... and it does
and it will ...
If anybody's interested, check out House of Cards with Kevin Spacy. The director attempts to reflect the human side of the money grab, not bash known excesses. You see the arguments and you're free to draw your own conclusions.
It's interesting how the same players who most benefited from excess were deregulation warriors. But when they blow up the show, they suggest government didn't prevent the opportunities for excess, (thanks Dudesome) the very anti-thesis of their original argument... while simultaneously arguing for further deregulation.
It's interesting how the same players who most benefited from excess were deregulation warriors. But when they blow up the show, they suggest government didn't prevent the opportunities for excess, (thanks Dudesome) the very anti-thesis of their original argument... while simultaneously arguing for further deregulation.
it's the scale & scope that leaves one aghast. this isn't an apple or two, it isn't even the cart, but more akin to taking the orchard, in cahoots with the apple processors & distributors & regulatory agencies. when they are also the judicial system, or in control thereof... the whole system is defunct. and this is just one aspect of how we see the walls closing in on us.
i don't hold much faith in any consumer protection agency within this corrupt system... it's designed to go after those that put up false or bad apples on shoddy carts, not the ones that now own the patents to the apple itself, along with all the production & means & governance. just there to make us feel better & to facilitate the overall running of the system... kinda like the fda & epa... not really there to 'help' the consumer in as much as a means to get product to market, while limiting entrance of new players. it's corrupt to the very foundation.
i don't hold much faith in any consumer protection agency within this corrupt system... it's designed to go after those that put up false or bad apples on shoddy carts, not the ones that now own the patents to the apple itself, along with all the production & means & governance. just there to make us feel better & to facilitate the overall running of the system... kinda like the fda & epa... not really there to 'help' the consumer in as much as a means to get product to market, while limiting entrance of new players. it's corrupt to the very foundation.
Regulating agencies are government entities. Ratings agencies are private business.
Between 2001 and 2008, enforcement divisions of FBI and SEC etc either withered on the vine or were redirected toward terrorism activities. It's like the little kid in Die hard, 'There's not a cop in 50 blocks... it's Christmas!'
There's no disputing the multiple, systemic areas of industrialized fraud. We're just too ideologically paralyzed to address the fixes.
Just a day ago I was arguing with my mom about this. This is what she told me:
A hundred or maybe a hundred and fifty years ago people would crash the whole government to dust if there was same kind of fraud going on on this planet.
The funny thing is, that 200+ years ago people wouldnt need to organize themselves into anything like OWS. Banks were burnt on a local level back then.
Today it's so global, that it's taken normal. And most people are so asleep that they don't really care about their wealth anymore. Folks care about their tv episodes more than their own future.
Today some folks will wake up from the sleep and think: Hey something is wrong. Where else should I put myself? Oh I'll go with OWS!!
And yet still those folks don't care about their financial future. They just need something to attatch themselves to.
By the way here is an absolute must see for anyone who is interested in today's economy.
The American Dream
The greatest cartoon of all times.
The American Dream
The greatest cartoon of all times.
G
greenmatter
Well now you are just twisting the analogy. Let me straighten it out for ya.
The guy was ignorant of her herpes just as the consumers screwed by the lender didn't know the ARMs were a poison pill and the FRMs a sugar pill. And the coont didn't volunteer she had herpes just like these con-lenders pushed ARMs on consumers.
The guy tried to mack on this other ho at the club that was more attractive but she thought she was too good for him. He was desperately horny for gash, so he had to settle for this dumb drunk skank that threw herself all over him after she peeped his wallet at the bar and convinced herself she saw a wad of $100s instead of $1s, because that was what she wanted to see.
This perfectly parallels how some of those consumers were declined for FRMs and the con-lenders moved mountains with bogus finance info to put the consumers into the ARMs. Hungry for the American Dream, someone offered and they jumped on it.
The guy wore the raincoat but it doesn't cover everything, just as consumer protections were insufficient. The free clinic is the bailout, and its the skank walking into it laughing because she stole the guy's wallet too. The wallet being the retirement savings of the middle class that went poof.
So yeah it was totally that bitch's fault you can't blame the guy.
^^^^^^^^^^^^^ that metaphor kicks the shit out of the apple cart thing !!!!!! i still am a believer in covering your own ass but i gotta admit that is a very good post.
^^^^^^^^^^^^^ that metaphor kicks the shit out of the apple cart thing !!!!!! i still am a believer in covering your own ass but i gotta admit that is a very good post.
lol I mistook your seriousness and started out trying to tease/poke you into "umad" mode. but it was just too funny and shit kept pouring out I could not stop editing my post. also I enjoyed intertwining that 'traumatized narrator's personal experience underlying bias' angle that you threw in early on! I liked that a lot and ran with it!
We trolled eachother in an infinite loop like a snake eating its own tail. We subcontextrolled and countertrolled and countersubcontexttrolled.
That last post kicked off a brainstorm.. I have fleshed out a strong rough beginning of a skit concept LOL... I'm having an episode its something I'm smoking maybe damn that shit totally looked indica-dominant and this is a total sativa feel. I felt like variety and picked up some strange... if people know you buy weed every once in a while they dont suspect you of growing.
Whoa now my heart is going boomboomboomboom hahaha what the fuck is this strain..
Detective Fenow "Hardmode" Allbud is on the case!
I
In~Plain~Site
So we attempt to countermand the wrong-doing by spending our way out of it?
Can't fix one without fixing the other...austerity...I'm cool with it and it's a lesson that needs to be learned by soft-assed Americans.
Ask not what your country can do for you...make your own fucking way.
Is that not a trait inherent to all, learned or otherwise?
It sure as hell use to be.
But you keep pointing to the evil bastards as the cause for all your woes.
Bunch of fucking pussies in this god damned country
It seems that you are a staunch republican and are trying to show everyone how the democrats have caused all the problems in the country... do i have this right?
Pointing to evil bastards that are swindling from the cookie jar and making your own way in the US are NOT mutually exclusive.
In fact, I would venture to say that those of us who HAVE made our own way, care MOST about the crooks, liars, and theives that have infected our beloved capitalism.
I would also go so far as to say that the regurgitation of the 'suck it up and work harder' crowd is just another indoctrinated thought that pleases the people that rape us and our tax dollars. It is akin to the people that regurgitate the latest liberal rantings in the eyes of 'fairness and equality'.
nope..
there are no republicans or democrats just goldman and citi.
the state of our economy was created by bipartisan effort.
if i blame anyone i blame the american people.
i blame the 99%.
we allowed our selves to be made complacent by our own greed.
we allowed our selves to become "victims" of the system we control.
we allowed emotion to rule us while we railed about meaningless non issues and ran up our credit cards.
at the end of the day WE voted the bastards in.
WE allowed ourselves to be victimized for shiny things.
we traded our island for beads.
the part of your quote in "quotation marks" is mocking our resident partisan cheerleader.
Last edited:
lets write regulation?
forgetting the blame game(if possible) for a few pages?
what should replace the current broken regulatory system?
maybe break it into sections?
for instance...
...
many others with each section having simple enforceable regulation actually designed to safeguard consumers.
what would you propose?
the current system is a morass of regulatory red tape that obviously does not work.
on mortgage lending:
strict credit and down payment requirements.
due diligence requirements on both sides of the closing table.
no selling of paper or refi for 5 years from DOP
simple common sense regulations.
see even libertarians can regulate.
forgetting the blame game(if possible) for a few pages?
what should replace the current broken regulatory system?
maybe break it into sections?
for instance...
SECURITIES EXCHANGE
MORTGAGE LENDING
MORTGAGE LENDING
...
many others with each section having simple enforceable regulation actually designed to safeguard consumers.
what would you propose?
the current system is a morass of regulatory red tape that obviously does not work.
on mortgage lending:
strict credit and down payment requirements.
due diligence requirements on both sides of the closing table.
no selling of paper or refi for 5 years from DOP
simple common sense regulations.
see even libertarians can regulate.
- Status
