Well, I for one am shocked---yes, shocked!---that a Wall Street Journal editorial writer and sometime contributor to National Review would look at things in this way.

"Fannie Mae was a New Deal creation, subsidizing the securitization of mortgage debt. "

Lehman Brothers was leveraged 100-1.

This author is trying to sell us on the concept the problem was the "1".

What a crack up.

Obama is not near ability of FDR, and he made this nation the greatest nation in the world.

People like kerrin just show their ignorance toward the critique of FDR. Real ignorance border on unrational stupidity.

I am afraid obama has found out how deep our nation is in shit and is panicking because he not only hears the giant sucking sound but sees it and knows his money he was looking for is going to be gone.

Obama is showing this nation that he is nothing more than another politician who has no leadership other than party political pandering.

All show nothing more.

They're getting ready to collapse the dollar completely, and change over to the Amero, Then merge the Amero with the Euro.
At that point they are over half way there to a global currency.
Then you morons can't talk shit about me moving to Denmark. Because we will all be under the same system.

"Real ignorance border on unrational stupidity."

Ya gotta love the self-retorting retort.

"Obama Voters Sadly Ignorant on Simple Issues"

I think the older white-headed fellow is our Doc-ster Sarvis. He kinda looks like a tofu eatin', latte drinkin' socialist, don't he?

Ya gotta love the self-retorting retort.

Says the union man standing on one wooden leg with the beaver chipping away.

No wonder unions are on the out, brace yourself, with understanding of the likes of you unions will be gone by 2012.

As much as I defend unions I would say good bye, we don't need any more ignorance and excuses for self serving political ways. We need leadership and definitely UNIONS are not capable of such.

30,000 people paying 50 dollars a month and the people can't seem to get any media correctness from the cheap ass money grubbing over paid union leadership.

I would be embarrassed to say I was being protected by a union.........oops, the workers do say that.

"unions will be gone by 2012."

Wanna bet?

"We need leadership and definitely UNIONS are not capable of such."

If that's the case, change the leadership. Recent occurrences prove it can be done.

I think the older white-headed fellow is our Doc-ster Sarvis. He kinda looks like a tofu eatin', latte drinkin' socialist, don't he?
#8 | Posted by jestgettinalong

Tofu? Not bad. Latte? Only rarely. Socialism? Lots of good things going for it.

By the way, Jestlimpin'along, I'm still wondering whether you're really as stupid as you come across here on the DR. Guess which way the scale's been tilting.

"By the way, I'm not in that idiotic clip. But I am in this one: www.youtube.com"

Oh...I thought you were a pee-aitch-dee. You're just an actor like Danforth? I suppose he's the OTHER guy with a big hat...right? You both oughta stick to comedy though.

Jestlimpin'along - Why you choose to wear your ignorance, self-loathing, and feelings of inferiority like badges of pride is beyond me. Perhaps someone down at the county mental health clinic might be able to help you out.

"Why you choose to wear your ignorance, self-loathing, and feelings of inferiority like badges of pride is beyond me."

LOL...I knew a leftist-socialist moonbat like yourself would have to come up with SOMETHING concerning "feelings" of inferiority," self esteem, "self-loathing" etc. It's inconceivable to you that I just find you kinda amusing and maybe even naive, isn't it? Your pee-aitch-dee in psychology, is it? You know that pee-aitch-dees don't earn all that well, right? And...psychologists/
psychiatrists have one of the highest suicide rates, right? Do you REALLY think you're the smartest guy to ever shit between a pair of run-down heels, Doc? Guess what...you ain't.
But...you ARE a lot of fun on the DR.

"It's inconceivable to you that I just find you kinda amusing and maybe even naive, isn't it?"

I'm touched. No, really. Gee, what's next, Mr. Big Bad Backwoods Man? A dozen roses? A box of chocolates? Dueling banjos?

"Gee, what's next, Mr. Big Bad Backwoods Man? A dozen roses? A box of chocolates? Dueling banjos?"

You must have me confused with Danforth. I understand he's trying to get a part in the sequel to "Brokeback Mountain," you know. I forget if they're calling it "Reachback Ridge" or "Sore In The Saddle."
If you're really an aspiring actor you might see if you can get the starring role opposite him.

"I forget if they're calling it "Reachback Ridge" or "Sore In The Saddle.""

I believe it's "The Biography of JestGettingAlong".

You must have me confused with...
#17 | Posted by jestgettinalong

Nope, got you pegged, cupcake.

so heffy, when this happens do you get your unemployment in euros or ameros?

get a fucking job.

heffy = jeffy. or loser. whatever.

READ THIS:

AIG, Fannie and Freddy were involved in a grand scam,even if they collectively didn't know it. I'll try to sum up.
AIG insured mortgages that were bundled together, artificially inflated, sold, bundled again and sold again. Said mortgage bundles were worthless, or at least risky to smart investors unless they were insured. This type of insurance was created for the sole purpose of beefing up the value for sale.
this created a system..... a culture of artificially inflated mortgage bundles. This system encouraged the mortgage giants to honor bad loans, bundle and sell. It also encouraged insurers to insure bad loans because the risk, or in this case the loss was passed on to investors and left little to loose for the mortgagors....in theory. This process mushroomed and went on for quite sometime. In the end, essentially, the insurance was fraudulent (obviously because when the the claims came to roost the AIG went down), and the loans themselves whether or not in default ended up a loss to those who held the note because they were leveraged against false insurance, and so on.

In the end these guys invested in massive amounts of mortgages, leveraged 100-1 that even at a 5% failure rate brought down the whole system. That means only 5 out of 100 mortgages had to fail to cause the house of cards to fall.

What could have prevented this?
REGULATION,REGULATION, REGULATION.

Can somebody PLEASE! tell me what is wrong with in regulation?

PLEASE!!!

I don't see how regulation would have prevented this when it was the gov't who reduced the standards to qualify for a loan. The Gov't encouraged lending practices to unqualified buyers

That giant sucking sound was Hillary getting off the pot during a break from the vetting process.

Tie unemployment rate to highest tax rate and watch the jobs suddenly appear. Fact is wealthy Americans care more for money than country and wage economic war on their own country. We need to begin to see economic warfare in the same terms as terrorism.

Danni we just want to keep the peasants like you in theeir place. That is why Ray Kroc is a hero. There is no better way to keep the peasants fat and lazy than fast food. Liquor is a clore second