Osama Bin Ladin wins (assist to Bush/Cheney)

[Voice of Reason]

It was a bit of a delayed TKO, but a TKO to our financial market nonetheless.

Mission Accomplished.

[LTS TRN 2]

What's the story, Rusp?

The story is that the most disastrous and incompetent (and unelected, twice) administration in American history is clogging the fucking toilet as it gets flushed into the septic tank of history. And McBush and Brood Mare are along for the ride.

What, Rusp Limpdick didn't tell you?

[RadioFan]

What's the story, Rusp?

The story is that the most disastrous and incompetent (and unelected, twice) administration in American history is clogging the fucking toilet as it gets flushed into the septic tank of history. And McBush and Brood Mare are along for the ride.

What, Rusp Limpdick didn't tell you?

Hey, mensa, maybe you haven't heard, but Bush's bailout measure failed today.

Try putting on the tin-foil hat frontward this time, dumbass.

[Tom In VA]

Well their target was Wall Street, our will, and the economy, and everything else.

I wouldn't say they've scored a TD yet but they're getting into field goal terroritory if shit doesn't turn around.

[RadioFan]

"They" haven't done shit. This one's on our own greed.

[Tom In VA]

"They" haven't done shit. This one's on our own greed.

Facilitating our self destruction is their strategic objective. And "They" aren't done. 1993 - 2001 = 8 years.

[smackaholic]

what he ^^^^ said.

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

[RadioFan]

They don't have to do anything when it comes to our greed.

The current economic crisis has NOTHING to do with 9/11. EOFS.

Don't feed the trolls, Tom.

[Tom In VA]

Old habit RF.

No, it's pure coincidence IMHO. Be interesting to research it though. I mean the "housing boom" really helped get the economy back on it's feet after the double barrel shot of the dot com bubble bursting and the recovery from the initial attack.

[RadioFan]

Be interesting to research it though. I mean the "housing boom" really helped get the economy back on it's feet after the double barrel shot of the dot com bubble bursting and the recovery from the initial attack.

Perhaps.

One of my cat's shitting patterns also seems to have changed after 2001.

Could be a combination of interglobal politics and me telling him, "no, no go in the litter box," but it could also be his diet and age.

[Tom In VA]

Be interesting to research it though. I mean the "housing boom" really helped get the economy back on it's feet after the double barrel shot of the dot com bubble bursting and the recovery from the initial attack.

Perhaps.

One of my cat's shitting patterns also seems to have changed after 2001.

Could be a combination of interglobal politics and me telling him, "no, no go in the litter box," but it could also be his diet and age.

RACK.

You forgot "diet and genetics"



88,

Chill dude, we know the old timers were tough. Even then some bitched, complained, threw themselves off buildings,ate bullets, that is if they owned a radio and listened to Orson Welles describe the invasion of New Jersey by Martians.

[Dinsdale]

I mean the "housing boom" really helped get the economy back on it's feet after the double barrel shot of the dot com bubble bursting and the recovery from the initial attack.

Yes... when the Men In The Marble Palace decided your money was worthless, it made credit cheap, and much of this greedy land of ours refinanced their equity and bought a new SUV.


Yeah, that's "back on its feet."

But I say we let the government continue to try and manipulate the free market to make a few very rich people even richer.

I mean, it's worked so well so far.


Yet here some of you idiots are, signing on for more of the same...

Absolutely fucking ponderous.

[LTS TRN 2]

Jesus Christ, It's only money.

Americans can be so stupid sometimes.
The people who made it through WWII would be sickened.....I am.

Good o'l "88," surely the hollowest and most invisible of pathetic walk-ons in some memory...

[Goober McTuber]

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

Well, you're half right, you fucking half-wit.

[Jerkovich]

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

Well, you're half right, you fucking half-wit.

Put that together with the mines that Greenspan laid and you're pretty much on the dime.

[smackaholic]

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

Well, you're half right, you fucking half-wit.

So which part of that statement do you not agree with? Being a democrat shill, I guess you will downplay clinton's role in appeasing jesse jackass and co. by forcing equal opportunity mortgaging.

Not saying that it was half the problem or even a quarter, but, it was part of it. The biggest part, imo, was the fed deciding that the prime rate needed to go to about half a percent. All just to get the economy "back on it's feet". Did anyone ever ask how it is possible to loan out money pretty much for nothing?

Maybe we just need to get rid of the fed.

[Goober McTuber]

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

Well, you're half right, you fucking half-wit.

So which part of that statement do you not agree with? Being a democrat shill, I guess you will downplay clinton's role in appeasing jesse jackass and co. by forcing equal opportunity mortgaging.

Probably the part about “PC lib fags” holding a gun to some banker’s head forcing him to loan money to unqualified borrowers.

[Goober McTuber]

Probably the part about “PC lib fags” holding a gun to some banker’s head forcing him to loan money to unqualified borrowers.

That's exactly what happened, you ignorant tard.

Yeah, I’m sure all of those bankers were sitting there saying, “Please don’t make me loan this money.” Bullshit. They knew they would sell those mortgages and turn around and “be forced to make some more loans.” Dumbfuck.

[Tom In VA]

He never said anyone held a gun to anyone's head though, you put that in there for dramatic effect.

There were quotas and penalties to pay if those quotas weren't met. Those penalties were suspended last year as the market started it's steep decline but for years they were enforced. This compels Fannie and Freddie to back more loans and "greedy" brokers to make them and live high off the hog on fees, commissions, and other "perks". Their appraisers should all be lined up and egged as well.

I agree with you in that he's only half right, this was both parties who used this for political capital in the past and now it's biting them in the ass, us in our pockets, and is being kicked around like a political hot potato in Washington.

[Goober McTuber]

That's pretty funny. Tom with sand in his VAgina complaining about "dramatic effect".

BTW, my understanding is that the Community Reinvestment Act dictated that banks who chose to offer sub-prime money had to offer the same sub-prime money to people in distressed areas as they offer to people in non-distressed areas.

Gramm-Leach-Bliley allowed banks to offer sub-prime money. The government did not force lenders to loan sub-prime money.

[Tom In VA]

That's pretty funny. Tom with sand in his VAgina complaining about "dramatic effect".

BTW, my understanding is that the Community Reinvestment Act dictated that banks who chose to offer sub-prime money had to offer the same sub-prime money to people in distressed areas as they offer to people in non-distressed areas.

Gramm-Leach-Bliley allowed banks to offer sub-prime money. The government did not force lenders to loan sub-prime money.

I wasn't complaining, very effective use of it by the way, I was merely stating that I caught you. :wink:

Like it says in this article Goobs, http://www.washingtonpost.com/wp-dyn/co ... 03459.html,

The two federally chartered mortgage-finance companies, whose ties to the government give them commercial advantages, are required to devote certain percentages of their business to funding loans for various categories of borrowers, such as homebuyers with low to moderate incomes and those in poor neighborhoods.

Is this the sole cause of the problem ? No. Not at all. Is is strictly a "left wing liberal" thing ? Not in my opinion.

But it does seem to be at the center of the problem and there really is no escaping it. The agenda and policies of several different administrations and congresses was to get more lower income and higher risk people into homes. The political capital of that was too tempting to avoid. The chain reaction set forth a course of events where brokers, appraisers, and all points in between went crazy with "Hey, we can get fees and commissions on loans and it doesn't matter to whom because the Fed is backing the money". Rich and poor alike took advantage of this situation to then buy homes. "Carlton Sheets" types "flipped them" and got caught with their pants down. Lower income folks buying their first home either didn't adapt their lifestyle to make bills or got laid off / divorced or what have you and ended up defaulting.

Then the bottom fell out of this "ponzi" scheme and here we are.

I appreciate your attempt to stay pure to the notion of "it's a smackboard" though. RACK the noble effort.

[Goober McTuber]

I appreciate your attempt to stay pure to the notion of "it's a smackboard" though. RACK the noble effort.

I always give it my best shot, Tom, facts be damned.

But again, according to what I’ve read, banks weren’t forced to lend sub-prime money, and that’s the only place where these quotas and penalties kicked in.

[PSUFAN]

this is a result of greed and PC lib fags forcing banks to come up with a way to loan money to folks who don't qualify.

That's a bit of an oversimplification. Banks have done everything they can do to sell risky mortgages, and then insulate themselves from those risks. Those mortgages have gone not only to lower income folks, but to upper middle class folks who have just kept reaching a few rungs up the ladder more than they could really afford.

You'd have a tough time nailing this to programs like Welfare to Work or urban redevelopment.

I agree that we've become soft. Not only does the younger generation expect and demand to live beyond their means, now the supposedly wiser generations have rewarded them by debasing long-standing and once venerable institutions to satisfy those demands...and offered staggering bailouts in order to abridge the consequences.

[Tom In VA]

But again, according to what I’ve read, banks weren’t forced to lend sub-prime money, and that’s the only place where these quotas and penalties kicked in.

I'd have to research it more but I'm inclined to agree with you. The way I'm interpreting things is that Fannie and Freddie were "forced" so in order to meet their quoata they had to make it appealing to brokers and such to approve high risk loans. A kind of "wink, wink, nudge, nudge I got your back, don't worry about it" game was then played. Basically Fannie wrote checks their mouths couldn't cash. Brokers, banks, appraisers, and homeowners all then participated in the game to varying degress of "greed" to simply just trying to earn a living and buy a home for one's family. Good guys and bad guys are caught up in this and we'll all pay a price on way or another.

[LTS TRN 2]

The government made things worse by giving these bundles of shit AAA ratings. Again...FACT.

Now considering the way the government set up the game, the banks just played the hand they were dealt and raked...for a while.

This is quite true. And surely this precise hinge in the massive house o' cards needs to be directly addressed. WHO in fact afforded those junk-level bonds AAA status? When this occurred ALL of the world's banks and lending institutions were obliged to use all of their leverage to buy as much as they could of these "AAA" bonds. This is exactly where a major fuck-up turned into an all-time crisis. No doubt at the heart of it--if we ever find out, notice how it's not even mentioned in mainstream news?--are Greenspan-like crooks and shills of "deregulation."

[LTS TRN 2]

Obviously that effort to get everyone and their cousin Rufus a house was not so much a bleeding heart liberal gesture as it was a calculated gamble to keep the (already debt financed) economy "growing." They of course were following Greenspan's opinion (when his every utterance seemed to come from God) that property values always inevitably rise.

But even so, even with a zillion bad loans, if the resulting bundled debt bonds were properly given their near-junk status the collosal meltdown would not have occurred. And that distinction needs to be addressed.

That and the absolute impossibility of "victory" in either Iraq, Afghanistan, or....Iran.

[Shlomart Ben Yisrael]

Banks were forced...

Yeah...sure.



Put the pipe down.

[Shlomart Ben Yisrael]

You're a clueless dumbshit. I get it.

Those poor bankers...hopping freight cars, heating up cans of beans, wearing threadbare clothes...

~sniff~

[Shlomart Ben Yisrael]

If you think banks want to make bad loans, you're a fucking moron.

Youfuckingdipshit...

The banks will make any loan they want, collect their fees and then bundle and sell those loans to other speculator/vultures. Do you know why? It's because their government cronies have their asses covered, tits to tail.


Go ahead. Keep telling yourself that this meltdown is because the government forced banks to give loans to deadbeats.
That's the narrative you're peddling?

Grasp away...

[poptart]

Oh, things are soooooo fucking bad. Jesus Christ, you pussies. Suck it up. It's only money.

Americans can be so stupid sometimes. Especially the young ones. This current crop of new adults is by far the laziest bunch of worthless losers I've ever seen. Hire one. I dare you. They whine and bitch and won't work worth a shit. They talk on their cell phone about how bad things are, while driving home in their new car from a restaurant. Puhleeze.

Things are bad when you've got no food to eat. Things are bad when no one can afford a car, a cell phone or any of the other luxuries they take for granted. Things are bad when war is at your doorstep and everyone is sacrificing. None of that is happening.

The hand-wringing assholes who are ruining this country aren't in the fight at all. Their kids aren't dying. Combat deaths in Iraq are still less than 4,000 FIVE YEARS after ground forces moved in. Yet they attack the leaders of this country purely because they have the excess and safety to play politics. They are insincere. They don't give two shits about the military or this country. They hate the military and this country.

Well, guess what assholes? The US military is still the baddest motherfucking military on Earth. And this is still the best place to live.

And most of us still have a job, and food in our bellies, and have the luxury to type shit like this out on the internet from a comfortable place.

The people who made it through WWII would be sickened by the lack of sack this country currently displays. I am.

The people who need to wake up are the Americans who are believing the bullshit that things are bad. They are not that bad, and not nearly as bad they can get.

RACK 88's rant!

A few years ago I walked into my son's high school for the first time and noticed that about half the kids were walking around in flip flops.
First thing I thought was, "Oh, it's one of those 'wear a funny t-shirt days' or some such shit ... only with shoes."

Then when my son came home I asked him about it and he told me that's just what kids wear these days.
I learned how far out of the loop I was.

If you can't even expect the kids to not walk around damn near BAREFOOT at fucking school, what kind of future do you see?

Seriously, WTFin'F is THAT??

I've been around a share of 20-somethings and I'm generally NOT impressed much at all.
There ARE some exceptions, to be sure, but not a high percentage.

Most of 'em seem to linger in a state of hyper-extended adolescence until around age 30, at which point the reality sets in (maybe) that they need to get off their ass and actually DO something to make a life for themself.

At that point they tend to piss and moan about things, and about how the country is letting them down.


I raise my pimp hand.

[RadioFan]

Damn, ya'll sound like a couple of old farts. :wink:

2nd 88's Rack and add one for pop.

[smackaholic]

Throw one more bitter old guy rack on the fire.

Snot nosed punks.

I blame moms. I find myself constantly fighting the battle with mrs smack concerning the depussification of young master smack. And she lets, no, make that encourages him to wear sandals to school.

Atleast they ain't flip flops, I guess. More like jesus sneakers. That shit would have got your ass kicked in 5th grade circa 1974.

[Goober McTuber]

The depussification of young master smack? Gonna be kind of tough when his old man is watching American Idol and The Batchelor.

Flip flops? Jesus sneakers? I believe the word you're looking for is "Crocs".

[The Seer]

Jesus Christ, It's only money.

Americans can be so stupid sometimes.
The people who made it through WWII would be sickened.....I am.

Good o'l "88," surely the hollowest and most invisible of pathetic walk-ons in some memory...

Someone from ago that was able to approach the depth of your stupidity was Index. Are you Index?

[Mikey]

Someone from ago that was able to approach the depth of your stupidity was Index. Are you Index?

Did speak you ever English learn?

[LTS TRN 2]

'Scuse me, Seer, but is a close examinstion of 88's rant really necessary? C'mon, it's twaddle on a lazy day. As though he didn't even try to impersonate a real moron. Taken as a whole, however, it does reflect a certain abdication of mind and conscience that is pretty common these days. It's a little Rusp Limpdick, a little Sean Hannity, and little of this guy


WW

[The Seer]

I didn't mean to tie in 88's post to the question...was just there and quoted it....

However, the question still begs....

[The Seer]

Someone from ago that was able to approach the depth of your stupidity was Index. Are you Index?

Did speak you ever English learn?

The olde grammar smak....you want to be editor of the day, run with it.

[War Wagon]

'Scuse me, Seer, but is a close examinstion of 88's rant really necessary? C'mon, it's twaddle on a lazy day. As though he didn't even try to impersonate a real moron. Taken as a whole, however, it does reflect a certain abdication of mind and conscience that is pretty common these days. It's a little Rusp Limpdick, a little Sean Hannity, and little of this guy

Rusp Limpdick check
abdication check

You're really slacking in this post, whoever you are. Who are YOU btw? Where you from? How old? Are you man or a woman? Got any kids? Does your wife swallow or do you? You seem like some autonomic drone spoonfed certain words and phrases by liberal college professors that've obviously had an enormous impact on your world view, queued to mash submit... shit, I digress.

Ok, I'm waiting for these gems:

unelected cabal (twice)
heinous criminals

C'mon, give us the good stuff.

[The Seer]

Carter WAS without any doubt whatsoever, truly, undeniably, certifiably, the worst president in the history of the United States. He made Polk look like Lincoln. Just to keep fertilizing his "legacy", he refuses to go away. His smarter brother Billy was fortunate enough to croak years ago and not continue to suffer the embarassment and humiliation.