"I did not come close at all on the housing boom."
On lessons from the 2008 collapse of Lehman Brothers, one of the nations largest investment banks
"Youd need government regulation to set up the capital standards because most banks, as Ive seen, will fight endlessly trying to get as little capital requirements as possible. If youre thinking in terms of the period when we all thought that people acted in their long-term self-interest, you can demonstrate in that hypothetical case that you need no regulations at all. It will be automatic.
But thats not the way the world works.
The premises that I believed prior to 2008 I had to discard because the evidence definitely said I was wrong."
Despite presiding over a chamber that nearly drove the country to a debt default, John A. Boehner still has the enduring support of a group that would have been most harmed by that event: the business community. No, Congress and the White House got us into the position; the TEA Party offered a different way out of it. WaPo wuvs Boehner because he's so compliant...
Rather than revisit their strategy of supporting Republicans after this week's postponement of the inevitable near-disaster, influential organizations such as the U.S. Chamber of Commerce are standing behind Boehner. More important, Boehner's friends in the business community are getting ready to take sides in a few Republican primary races against tea party candidates in Michigan, Idaho and Alabama who could cause the House speaker more trouble. Re-elect Rhinos!
Boehner, who was once president of a small plastics company in Ohio, has spent much of his career burnishing the GOP's identity as the party of business, building deep relationships since the 1990s with groups like the U.S. Chamber by providing legislative favors and easy access through countless receptions and rounds of golf. At least he hasn't been accused of selling influence to top dollar. He's just the leader of the minority branch of the Fusion Party that wants to run everything in Washington. His biggest crime is that he's happy with taking table scraps after being kicked around...
In return, business groups have helped Boehner and his counterparts in the Senate raise millions of dollars to put Republicans in office, including the 2010 election of tea party lawmakers who have now roiled the GOP. TEA Party - the only adults in the room.
It's this decades-long relationship that helps explain why even as one wing of the Republican Party threatened to drive the economy off a cliff by going in another direction, the business community has largely stuck by its party -- and its man, Boehner. Just keep pushing the cliff back, boys. Someone else will have to face it!
Our debt is out of control, The tea Party wants it fixed. Health care-Obama Care- will be the second largest wealth redistribution plan ever, the Tea Party wants to stop that. The President and the Dems are openly attacking out constitution, the Tea Party wants to protect it. Congressional leaders that have no spine and cry on TV are good, The Tea Party want congress to do their job and protect America's treasures. The status quo is being challenged, all the guns are focused on the Tea Party. No one wants their pork taken away so the budget will be balanced. Bad Tea Party.
Posted by: 49 Pan ||
10/18/2013 12:18 Comments ||
Oh, and the largest wealth redistribution is on going and draining the American treasures as we speak. The Fed has given every cent America has away and now they are giving every cent we will ever have away. By raising the debt we have new overlords above us, mostly China. But the real redistribution is what they are doing with the debt.
They are giving the money to the banks at near zero interest. The hope was the banks would pass it on and open home loans up etc... But Obama knew better. The banks are investing the money and using it elsewhere. They are not reinvesting it into the United States. The Stock Market is all the further you need to go to see this. The debt went up and so did the stock market. This is flat backward. The Banks have looted America. The last two weeks of Tea Party fighting was America's last stand against this, like the Alamo they were crushed. I can only hope with the mandates now in place it will be remembered like the Alamo, and people will hold their elected official accountable and vote them out. If they don't, we should empower them all for life, voting will be just a popularity event.
Posted by: 49 Pan ||
10/18/2013 12:28 Comments ||
The one thing republicans and democrats can agree upon: tea party must be stopped.
If they don't, we should empower them all for life, voting will be just a popularity event.
We will end up like the Muslim country that accidently reported the election results before the people voted.
I don't think the Tea Party is dead. This entire budget fiasco and Obamascare will probably make them stronger if anything. As much flak as they draw, they must be hitting touchy places with both parties.
Posted by: 49 pan ||
10/18/2013 21:52 Comments ||
The fact that the Tea Party is the Designated Boogeyman in pretty much every political column lately suggests they are scaring a lot of people (who could use a good scaring). You only take flak when you are over the target.
He's the MESSIAH. He will give us HOPE. He will give us a more transparent and caring government.He will bring us all together and you can all have that thrill up your leg.
Remember Mussolini? Where is Mussolini buried today? Does anyone know? Hanging by his heels in a gas station with a bullet in his head and his girl friend and a few close buddies hanging up there alongside him.
In the end you just have to be patient and wait. Some people have an inevitable destiny.
But remember those inaugural marble columns and all those Lincolnesque speeches. Quote me a single line from memory of any of them. No?
If his speeches were so good how come no one can remember anything Obama said from any of them.? But he sure CHANGED your life, didn't he? And Biden...that was pure genius. How DO those democrats produce such giants?
He is insane. He must honestly believe he is somehow above all the chaos and mess he and his party created there. The sad thing is the press aids and abets this lie by covering for him with bias in reporting and editorial bias (dciding not to cover the bad stuff)
Obama is shifty. He tries to portray himself as an outsider and far above Washington politics, a man of the people when in reality he is the ultimate insider--and a Machiavellian, narcissistic smuck.
Its interesting how folks compare him to Hitler and Mussolini. What is more interesting on closer look is he is using the same tools and tactics at those two. He calls himself the peoples guy, an outsider to politics, he has near total control over the media, he is willing to let people suffer for his goals, and on and on. What is the most dangerous of his tools are he has the youth believing in him and he has identified the patriotic as the problem in this country. His model is torn from the pages of Mein Kampf. Like Hitler and Mussolini he will betray his brown shirt base. I believe with his Obama care he has done just that.
His base point fingers, expect everyone else to pay for them, its everyone else's fault. Well kiddies, he is planning on his base to pay for this, they will be the ones his IRS goes after first. I for one will enjoy the irony of all of this...
Posted by: 49 Pan ||
10/18/2013 12:10 Comments ||
I agree. Let us fire George Bush and run himu out of town for making such a mess.
Until someone else has a real alternative to the media Obama can do what he wants and get away with it. He knows it, and the Republicans know it. The three branch structure of government is unbalanced because of it.
It is possible that by the time he leaves office his malfesence will be so obvious the MSM will either reform or be considered a laughingstock but who knows what will replace it.
I feel like we are at that point in the 60s when Star Trek was cancelled because of poor ratings, but not long after they discovered about demographics and loyalty and realized they'd killed the golden goose.
At some point the politicians will learn not to trust biased polls and biased media and make decisions on their ideals (as they were elected to do).
It is being reported that our debt clock has just gone over $17 trillion. Our run-up to $17 trillion began in earnest about the time of Johnson's presidency and his war on poverty. The War on Poverty did little to change poverty but it cost a great deal of money. Obummer has contributed about $6 trillion to this debt and growing. Obama and his choom gang will put us and future generations in ruin with Obamacare. This idiocy in Washington has to stop. We are heading towards the Weimar Republic region rapidly. Soon a loaf of bread will cost $3000 or more at the rate we are going. There is absolutely no fiscal discipline or restraint in Washington.
ION RUSSIA TODAY > BOND MARKET REVOLT MAY HIT US IN 2016 AS IT REFUSES TO DEAL WID DEBT CRISIS.
ARTIC PERT = US Debt is repor today as being over US$17.0Trilyuhn = 107% of GDP = 700% of US Revenues [aka Debt-as-Percentage-of-Revenue], AND MORE LIKELY TO RISE THAN NOT DUE TO US GOVT = TWO-PARTY IDEOLOGIES. The latter "700%" figure is much more important or significant than Debt-to-GDP, + should clearly indicate to anyone that it is all but absolutely impossible or hopeless for the US to be able to profiently service its debt burdens.
IIUC, IOW DESPITE THE NEW DEBT DEAL THE PROVERBIAL CLOCK IS STILL CLICKING DETRIMENTALLY TOWARDS US UNSUSTAINABILITY + FINALLY COLLAPSE.
* TOPIX > EUROPEANS AGOG AT AMERICANS' INABILITY TO COMPROMISE, AGHAST AT LIKELY LONG-TERM IMPACT.
* SAME > [SCMP] END OF GOVT. SHUTDOWN WON'T REVIVE DYING US DEMOCRACY.
* DRUDGEREPORT > DEBT THREATENS CHRISTMAS |[BreitBart] SEASON OF UNCERTAINTY FOR STORES.
* BLOOMBERG > [Post-Debt Deal] REPUBLICAN CIVIL WAR ERUPTS: BUSINESS GROUPS VERSUS TEA PARTY.
Inter-GOP, Conservative "Battle for the Year 2025" = "IFF MAN, FREEDOM, + AMERIKA IS STILL ALIVE ..."???
* SAME > [SCMP] OPINION: CHINA + OTHERS OUT TO SUPPLANT US MUST BE CAREFUL WHAT THEY ASK FOR.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.