Lottery Post Journal

Bloomberg spells out the cause of the current financial crisis

I will let the article from Bloomberg speak for itself, although I will mention that I echoed some of these same thoughts yesterday in RickG's blog.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aSKSoiNbnQY0

21 Comments:

  • Barney Frank, Charles Rangell, Chuck Schumer, Frank Raines, Jim Johnson, Nancy Pelosi, Harry (the land deal) Reid, Rubin, Chris Dodd, Greenspan, and all the frinking jerk weak REPUB politicians that let this slide, since they were warned should be brought to trial, removed from office, and sent to jail.

    Believe it or not McCain and a few others tried to bring this out of commitee but the above named blocked it from coming out.

    THEY WOULDN'T BRING IT TO THE FLOOR AND VOTE! THEY ARE THE DIMOCRATS! BAWNEY FWANK, SCHMUCKY SCHUMER AND CHRISTOPHER DOODY NEED TO GO. VOTE THEM OUT!

    If they can bring big oil in and interrogate they can bring in BIG MONEY and get some confessions.

    By jarasan, at 7:30 PM

  • It's funny how quiet Chris "Countrywide" Dodd is these days. It's also kinda funny that an irresponsible guy like Barney Frank (who was running a male prostitution ring out of his house) is supposedly responsible for oversight of the country's financial institutions.

    By Todd, at 9:39 PM

  • Giving unchecked and unquestionable powers to one man (Paulson) to control $700 billion of taxpayer money should be sounding alarm bells in everyone's mind. Something's rotten in the state of Denmark.

    By Rick G, at 7:54 AM

  • After watching Newt Gingrich opine on the bailout, I hope that cooler heads prevail and listen to what he said, it makes a lot of sense, it goes right along with what Rick is saying. He said just that Paulson's wall street solution is just that because he is from Wall Street, Newt suggested more thought be given to the issue and that others should be consulted to arrive at a more permanent solution. Newt stated that they will have their hands out on Wall Street and asked: "What happens if this fails?"

    By jarasan, at 8:56 AM

  • greed has gotten outa control.max out credit cards,don't worry about paying.it will get worse.

    By scorpio, at 1:46 PM

  • Keep in mind that Kevin Hassett, writer of this Bloomberg column, is an adviser to John McCain in the 2008 presidential election. So what else would you expect him to say?

    I don't defend ANY of the clowns that allowed this scandal and all the rest of the Bull<snip> that's now hittin the fan to happen!! I've been saying for years that this "economy" is a farce. Propped up by theft, corruption and greed. I think that Alan "Mr. Bubble" Greenspan should have his a** hauled in before the senate to testify for his part in this pyramid scheme.

    I also have a beef with MSNBC & Chris Matthews. The other day when someone mentioned Greenspan as being to blame for this mess, Chris Matthews cut them off and said "We can't quote Greenspan here....."
    I was surprised that he admitted it. With Mrs. Greenspan (Andrea Mitchell) on board it's no wonder that the whole truth is never told. (Fox and Cavuto are MUCH worse by the way).

    But it seems to me that YOUR Bush administration is advocating for running a money laundering scheme - they want to trade toxic debt for our hard earned/won cash to save their buddies on "FALL" Street. It can already be said that they are counterfeiting the value of our assets with their non-stop printing presses.

    Instead of Henry Paulson as "treachery" secretary, I'd rather have PAT Paulson. Anybody remember him? And is "Helicopter Ben" the best that Bush could come up with? How bout Harriet Myers?

    Has anybody read THE DAY OF RECKONING and EMPIRE OF DEBT? I saw this coming long ago. There's one thing that I'm glad about with this crisis - I'm glad that all this is coming down on King Jorge's head. You HAVE to know that he prayed with ALL his might that he could delay the catastrophe until after the next administration took over.

    Not long ago Bush was proclaiming that outsourcing was good for the country & our economy. Then inflation was ONLY 2%. Then when Bear Stearns hit the fan..."It's contained! It's contained! The economy is fundamentally sound!" And Dickey C was saying "deficits don't matter!"

    Some of you BUSHPUBLICANS are a real joke. Why don't we have a discussion about John "De-regulator" McCain and the Keating 5 (Better know as the Cheating 5) Savings & Loan scandal? Of which he has apologized so much for his role.

    Hey has any of you Sarah Palin fans seen the video of her speaking about HER pastor? The one that she credits for her becoming governor. This fool is makes Rev. Wright look like a mere Sunday school teacher.

    I don't necessarily like being political - I call it as I see it. But when fools and clowns think that they can get away with mis-placing the blame, then I say BRING 'EM ON!

    By AceKicka, at 2:01 PM

  • Ace baby, there is an old saying and it goes like this: "The longer you debate a fool, the more you look like the fool." You're a ten on the foolish fool scale, ten being the most foolish of all.

    By jarasan, at 7:14 PM

  • When a bill (S.190) is sequestered by a well publicized Democratic party controlled committee for the purpose of preventing it from being voted on ..... then that clearly shows who intentionally failed to stop the current fiasco. They were holding it when it broke.

    S.190
    Title: A bill to address the regulation of secondary mortgage market enterprises, and for other purposes.
    Sponsor: Sen Hagel, Chuck [NE] (introduced 1/26/2005)      Cosponsors (3)
    Latest Major Action: 7/28/2005 Senate committee/subcommittee actions. Status: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably. COSPONSORS(3), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)


          Sen Dole, Elizabeth [NC] - 1/26/2005
          Sen McCain, John [AZ] - 5/25/2006
          Sen Sununu, John E. [NH] - 1/26/2005

    http://thomas.loc.gov/cgi-bin/bdquery/z?d109:SN00190:@@@P

    By konane, at 8:23 PM

  • jarhead - I really could give a sh*t about what YOU have to say! Your simple childish response tells me that you have NO answers to what I've laid out. That's alright - neither does your leader!

    I don't give a good damn about ignorant punks like you! If you or anybody else REALLY want to get into it, let's put it on the "front page" so EVERYBODY can see just who the fool is! Instead of hidden in a blog where very few people ever see it. Let's put it on a lottery discussion post.

    If you had any REAL intelligence (or b*lls) you'd be able to go head to head with me and stand up for your chump - a*s party. But I already know that you're a LOSER. What are you doing on LP anyway?

    I don't think that you understand, I don't have to convince YOU of anything. I am NOT trying to convert you. You mean nothing to me.
    I have plenty of important work to do. I'm a winner - you're just a sideshow.

    By AceKicka, at 1:30 AM

  • Old sayings are old for a reason, their validity stands the test of time. Here is another old saying, "Ignorance is bliss."

    By jarasan, at 5:34 AM

  • Don't fret acekicka, jarasan is ok with anything done by his favorite party, cause they can do no wrong. In his worldy bubble, this administration is a gift from God, no matter how rediculous and corrupt they are. On the other hand, both parties have agendas, like I have always said.

    Fire them all !

    By pacattack05, at 7:44 AM

  • @AceKicka: If you're going to post comments on my blog, please leave the profanity at the door. Resorting to curses only means that you have run out of intelligent things to say.

    I have no doubt that you are passionate in your dislike of conservative principles, but you would lend a slight degree of credibility to your points if they were infused with logical arguments, rather than vitriolic bile. It does not make your argument sound stronger by inserting the curse words; in fact it sounds much weaker.

    By Todd, at 11:52 AM

  • Hey Pac, I respect your opinions, but you don't speak for me, you don't know me, you have never met me, and I don't appreciate your condescending know it all tone. Thank You.

    By jarasan, at 12:57 PM

  • @Todd: It's good to see that I'm getting my point across to you and your buddies! Oh I'm passionate all right - I'm passionate for the truth! Do you doubt that your heroes: Bush Cheney & McCain speak the same way and worse? Have you heard Mac's rape jokes? And I have definitely NOT run out of intelligent things to say. Maybe you have.

    As I have told Mr. Bliss, I'm not trying to convert you either. I've mentioned before that IF this were on Bill Clinton's watch, ALL of you Bushpublicans would be rioting! Bush's beggars look like ignorant fools. What has happened in the last 8 years? Looks like the whole world has had to DUMB DOWN to deal with these clowns.

    And Todd, you call what you're witnessing "Conservative" principles? So you run your business based on the Bush model? I KNOW that you're a Bush Conservative, but c'mon! If the way that I express myself, in YOUR opinion, sounds weak - then what does that say about your weak & loyal Bush cheerleading? And your vitriolic bile for any opposition?

    All in all, I'm not trying to pick a fight with ANY of you. It does nothing for me, whatsoever, to waste my time telling you what you already know. I'm friends with members of the other party but we do have intelligent discussions and an argument or two from time to time.

    I'm only interested at getting to the truth. I won't support ANYBODY with a lie. I'll tell it like it is. In fact, I have issues with the democrats as well. You can have most of them if you'd like! Harry, take him. Barney - the only thing that I'm waiting for him to do is to get back to work on the online gambling ban.

    As you can see - AceKicka's VERY intelligent! Much too intelligent for some of you. And I know a few things about hittin' the numbers too! Maybe that's what scares you about me. I maybe could help you out up there in NJ if you'd tone down the politics!

    Don't worry- I won't be posting many more times on ANYBODY'S blog on this site. It's really not the place for it. Nobody here is up to the challenge.

    I hear what you're saying pac, and I'm not fretting him a bit.

    Stay the course!

    By AceKicka, at 1:17 PM

  • You sound quite hostile AceKicka, and it is really strange that you keep mentioning George Bush, as if the whole world revolves around him. Are you capable of getting past George Bush? Will you still be talking about him next year?

    Ronald Reagan is actually my ideal president, so if you would like to refer to "YOUR president", he would be the correct person, not George Bush.

    I don't believe it is "truth" to go around making loud, obnoxious attacks on a subject that is not even being discussed here. I believe the topic is the current economic "crisis", and Congress' role in helping it to come about. Now, if you can see someplace that I'm talking about "Bush & Cheney", then I would be happy to address any specific points you may have.

    (I love how "truthful" you are in sticking "& McCain" to the end of "Bush Cheney". There is no truth in that off-topic remark -- it is something the Obama campaign manufactured because they don't have a large attack surface for McCain.)

    Please stick to the topic, which, again, is the current economic "crisis", and Congress' role in helping it to come about.

    By Todd, at 1:39 PM

  • One positive sign is that some in congress are objecting to the bail out. After listening to more people speak of the ramifications of the bail out, it just might be better to let the bad paper go to the incinerator (recycle bin). It really does appear as if it is another step in the gradual socialization of the US economy, a fast-fowarded version of this might be seen in Venzuela, where Hugo C. socialized everything within a couple of years, and I have friends there and it isn't pretty.   

    The left leadership is definitely in search of socialism, bit by bit, the Saul Olinsky method.   What would Ronald Reagan do in this situation?

    Two huge hints of the left's socialist, elitist agenda were revealed recently, Maxine Waters' slip on taking over the oil companies, and Chuck Schumer yesterday refering to the mortgage as "the lowly mortgage" !   The American dream, the lowly mortgage, these guys wan't to take private ownership away eventually............. you can't hide this stuff it is right there.

    By jarasan, at 2:14 PM

  • @Todd: I was past Bush even before he got started. How about you? Is that why you defend him so hard against the "Bush haters"? And take down others' posts about him including some that I've written in the past?? It's typical for all those seeking to run from Bush and his record to proclaim to be a Reagan "conservative". Reagan's gone - all you have left IS Bush and his "legacy".

    And YES the whole world will STILL be talking about Bush for years to come. Would you like to make a bet on THAT? "As if the whole world revolves around him".... that's EXACTLY what he has thought. If George Bush is NOT your ideal president then where is it that you've said ANYTHING to critique him or his policies?

    Are you capable of giving him a straight up rating - or would you just grade him on a curve like all the rest? Remember "mission accomplished" & "The war will pay for itself"? We will NOT be held hostage by the Keystone Cops!

    I guess that you can see that this so called "rescue/bailout" in all of its' 2 pages is not just going to be bum-rushed right on through. What kind of mess is this that stipulates that no judge nor court can have a say as to what the Treasury does with its' blank check? Typical Bush economics.

    Maybe there aren't many places where you mention YOUR Prez & Vice Prez. That would be because you take them down when it gets hot 'n' heavy.

    HOSTILE?? I CAN BE! But really I'm just a guy that doesn't mind helping others. And that includes helping others to see the light! Can you get to that?

    By AceKicka, at 3:36 PM

  • @AceKicka,

    I asked you kindly to stay on-topic, and you're disrespectfully ignoring my request. This is my blog, and if you continue posting off-topic crap here I will block you from posting comments on it.

    I will not be suckered into a discussion of your favorite topic (George Bush). Maybe you're a secret admirer of his, since you can't stop thinking and talking about him.

    By Todd, at 5:14 PM

  • @Todd, who was it that just a couple of months ago gave Fannie & Freddie even more power to screw up? And wasn't there talk about breaking off a piece of the twins for Russia to invest in?

    So you want to talk about who's responsible - I think that you need to include everything. I don't doubt that some democrats are also at fault but how did F&F get so out of control in the first place?

    By AceKicka, at 8:20 PM

  • To answer your question, *Congress* gave them the ability to focus on rewarding their executives rather than making good investments. If you took a few moments to read the article, instead of immediately launching into a Bush attack, you would understand that. This is not a Bush issue. *Three years ago* a group of Republicans, including John McCain as a co-sponsor, sounded the alarm about FM&FM and tried to get a bill passed that would reform the oversight of them. But it was blocked by the Democrat-controlled committee. Mr. Truth, if you remove your George Bush hatred spectacles long enough to learn about the facts involved, maybe you would come to two conclusions: (1) George Bush is not at fault for everything, and (2) Democrats are not perfect.

    By Todd, at 9:21 PM

  • @Todd: for your information I DID read the article. Your problem is that you think that you have all the answers. The article that you posted is NOT the only point of view.

    3 years ago? What about before then and since? F&F are NOT the only factors here. Wall Street greed and corruption brought the house of cards down. And who's presiding over the whole crisis? Who has the veto pen? Who's "THE DECIDER?"

    By AceKicka, at 9:39 PM

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