TARP has lost 40% since inception

[Allan from Fallbrook]

Gandalf: Whoa! Easy there, dude. You’re right, but you’re also not telling the entire story, either.

What about Clinton’s repeal of the Glass-Steagall Act? More importantly, what about the powers behind the throne agitating for that? Namely, Robert Rubin and Alan Greenspan.

This was not an insignificant thing, and it set in motion many of the ills we’re confronting right now, not the least of which was the removal of necessary barriers regarding what commercial banking and investment banking entities could and could not do. Also, look at the impact of the Financial Services Modernization Act (the so-called “Citi-Travelers Act”), which allowed for the formation of Citi by merging Citibank and Travelers Insurance. An institution that became “too large to fail”.

And I don’t think it’s a coincidence that Rubin goes from being Clinton’s Secretary of Treasury to the vice chairmanship at Citigroup.

Sorry, but if you’re going to tell the story, tell the entire story and not in such a way as to just throw the GOP under the bus. Plenty of blame to go around, including the Dems and including a lot of the same players surrounding Obama RIGHT NOW.

[UCGal]

Since this thread has morphed to the AIG topic…
Interesting (depressing) article about the problems with AIG not being limited to the financial services side – but the insurance side is messed up too…

I hope it’s not as f*d up as this article suggests.

http://www.newsweek.com/id/189917

[UCGal]

Since this thread has morphed to the AIG topic…
Interesting (depressing) article about the problems with AIG not being limited to the financial services side – but the insurance side is messed up too…

I hope it’s not as f*d up as this article suggests.

http://www.newsweek.com/id/189917

[UCGal]

Since this thread has morphed to the AIG topic…
Interesting (depressing) article about the problems with AIG not being limited to the financial services side – but the insurance side is messed up too…

I hope it’s not as f*d up as this article suggests.

http://www.newsweek.com/id/189917

[UCGal]

Since this thread has morphed to the AIG topic…
Interesting (depressing) article about the problems with AIG not being limited to the financial services side – but the insurance side is messed up too…

I hope it’s not as f*d up as this article suggests.

http://www.newsweek.com/id/189917

[UCGal]

Since this thread has morphed to the AIG topic…
Interesting (depressing) article about the problems with AIG not being limited to the financial services side – but the insurance side is messed up too…

I hope it’s not as f*d up as this article suggests.

http://www.newsweek.com/id/189917

[gandalf]

[quote=davelj]A lot of you Piggs crack me up. Clearly, the Fed and Treasury (and body politic) – The Officialdom – have caused/contributed to a lot of the mess we’re in. But now that they’re putting in a good faith effort (we can debate the anticipated effectiveness, to be sure) to stem the bleeding, everyone just bitches and moans as if they have any clue as to what to do.
[/quote]

Dave, I’m right there with you on this one.

[gandalf]

[quote=davelj]A lot of you Piggs crack me up. Clearly, the Fed and Treasury (and body politic) – The Officialdom – have caused/contributed to a lot of the mess we’re in. But now that they’re putting in a good faith effort (we can debate the anticipated effectiveness, to be sure) to stem the bleeding, everyone just bitches and moans as if they have any clue as to what to do.
[/quote]

Dave, I’m right there with you on this one.

[gandalf]

[quote=davelj]A lot of you Piggs crack me up. Clearly, the Fed and Treasury (and body politic) – The Officialdom – have caused/contributed to a lot of the mess we’re in. But now that they’re putting in a good faith effort (we can debate the anticipated effectiveness, to be sure) to stem the bleeding, everyone just bitches and moans as if they have any clue as to what to do.
[/quote]

Dave, I’m right there with you on this one.

[gandalf]

[quote=davelj]A lot of you Piggs crack me up. Clearly, the Fed and Treasury (and body politic) – The Officialdom – have caused/contributed to a lot of the mess we’re in. But now that they’re putting in a good faith effort (we can debate the anticipated effectiveness, to be sure) to stem the bleeding, everyone just bitches and moans as if they have any clue as to what to do.
[/quote]

Dave, I’m right there with you on this one.

[gandalf]

[quote=davelj]A lot of you Piggs crack me up. Clearly, the Fed and Treasury (and body politic) – The Officialdom – have caused/contributed to a lot of the mess we’re in. But now that they’re putting in a good faith effort (we can debate the anticipated effectiveness, to be sure) to stem the bleeding, everyone just bitches and moans as if they have any clue as to what to do.
[/quote]

Dave, I’m right there with you on this one.

[gandalf]

[quote=Allan from Fallbrook]Gandalf: Whoa! Easy there, dude. You’re right, but you’re also not telling the entire story, either.

What about Clinton’s repeal of the Glass-Steagall Act? More importantly, what about the powers behind the throne agitating for that? Namely, Robert Rubin and Alan Greenspan.[/quote]

For the record, I couldn’t stand Clinton. (Neither one of them.)

Clinton repealed GS with republican support over dem minority objections. The GOP *led* the effort to deregulate financial services with support from the Clinton and his enablers. I can’t stand Rubin. I don’t like Geithner, or Summers. I consider Greenspan to be one of the prime culprits.

I’ve been clear, I consider personnel choices of Geithner and Summers to be a stumble by Obama out of the gate. The efforts so far have been too ‘establishment’, propping up the Bezzle instead of flushing the fraud down the toilet. The markets will not return until confidence and trust are restored and there are indictments, transparent books and sensible regulation.

Now, in all fairness to Obama, we are less than 60 days into the new administration, after 8 YEARS of historically-awful BUSH on top of 8 YEARS of the triangulating slickster BILL.

Blaming this entire mess on Obama at this point is contrived, framed, false, fake, manufactured GOP talking point outrage.

Not saying anybody is beyond criticism, but if you’re one of these losers who throws out shit like “Obama makes the stock market fall” — well, you’re just a DOUCHEBAG. Maybe the market SHOULD FALL. How about that? Maybe Citigroup stock is only worth $1 because they operate a FRAUD?! Maybe that’s fair market pricing?! Don’t even get me started about AIG…

Look, we’ve got a lot of issues to work through. It’s a disaster. We ought to be finding common ground at this point, trying to move forward. The finger-pointing and GOP talking points, those are just trademarks of “THE LOSER”.

[gandalf]

[quote=Allan from Fallbrook]Gandalf: Whoa! Easy there, dude. You’re right, but you’re also not telling the entire story, either.

What about Clinton’s repeal of the Glass-Steagall Act? More importantly, what about the powers behind the throne agitating for that? Namely, Robert Rubin and Alan Greenspan.[/quote]

For the record, I couldn’t stand Clinton. (Neither one of them.)

Clinton repealed GS with republican support over dem minority objections. The GOP *led* the effort to deregulate financial services with support from the Clinton and his enablers. I can’t stand Rubin. I don’t like Geithner, or Summers. I consider Greenspan to be one of the prime culprits.

I’ve been clear, I consider personnel choices of Geithner and Summers to be a stumble by Obama out of the gate. The efforts so far have been too ‘establishment’, propping up the Bezzle instead of flushing the fraud down the toilet. The markets will not return until confidence and trust are restored and there are indictments, transparent books and sensible regulation.

Now, in all fairness to Obama, we are less than 60 days into the new administration, after 8 YEARS of historically-awful BUSH on top of 8 YEARS of the triangulating slickster BILL.

Blaming this entire mess on Obama at this point is contrived, framed, false, fake, manufactured GOP talking point outrage.

Not saying anybody is beyond criticism, but if you’re one of these losers who throws out shit like “Obama makes the stock market fall” — well, you’re just a DOUCHEBAG. Maybe the market SHOULD FALL. How about that? Maybe Citigroup stock is only worth $1 because they operate a FRAUD?! Maybe that’s fair market pricing?! Don’t even get me started about AIG…

Look, we’ve got a lot of issues to work through. It’s a disaster. We ought to be finding common ground at this point, trying to move forward. The finger-pointing and GOP talking points, those are just trademarks of “THE LOSER”.

[gandalf]

[quote=Allan from Fallbrook]Gandalf: Whoa! Easy there, dude. You’re right, but you’re also not telling the entire story, either.

What about Clinton’s repeal of the Glass-Steagall Act? More importantly, what about the powers behind the throne agitating for that? Namely, Robert Rubin and Alan Greenspan.[/quote]

For the record, I couldn’t stand Clinton. (Neither one of them.)

Clinton repealed GS with republican support over dem minority objections. The GOP *led* the effort to deregulate financial services with support from the Clinton and his enablers. I can’t stand Rubin. I don’t like Geithner, or Summers. I consider Greenspan to be one of the prime culprits.

I’ve been clear, I consider personnel choices of Geithner and Summers to be a stumble by Obama out of the gate. The efforts so far have been too ‘establishment’, propping up the Bezzle instead of flushing the fraud down the toilet. The markets will not return until confidence and trust are restored and there are indictments, transparent books and sensible regulation.

Now, in all fairness to Obama, we are less than 60 days into the new administration, after 8 YEARS of historically-awful BUSH on top of 8 YEARS of the triangulating slickster BILL.

Blaming this entire mess on Obama at this point is contrived, framed, false, fake, manufactured GOP talking point outrage.

Not saying anybody is beyond criticism, but if you’re one of these losers who throws out shit like “Obama makes the stock market fall” — well, you’re just a DOUCHEBAG. Maybe the market SHOULD FALL. How about that? Maybe Citigroup stock is only worth $1 because they operate a FRAUD?! Maybe that’s fair market pricing?! Don’t even get me started about AIG…

Look, we’ve got a lot of issues to work through. It’s a disaster. We ought to be finding common ground at this point, trying to move forward. The finger-pointing and GOP talking points, those are just trademarks of “THE LOSER”.

[gandalf]

[quote=Allan from Fallbrook]Gandalf: Whoa! Easy there, dude. You’re right, but you’re also not telling the entire story, either.

What about Clinton’s repeal of the Glass-Steagall Act? More importantly, what about the powers behind the throne agitating for that? Namely, Robert Rubin and Alan Greenspan.[/quote]

For the record, I couldn’t stand Clinton. (Neither one of them.)

Clinton repealed GS with republican support over dem minority objections. The GOP *led* the effort to deregulate financial services with support from the Clinton and his enablers. I can’t stand Rubin. I don’t like Geithner, or Summers. I consider Greenspan to be one of the prime culprits.

I’ve been clear, I consider personnel choices of Geithner and Summers to be a stumble by Obama out of the gate. The efforts so far have been too ‘establishment’, propping up the Bezzle instead of flushing the fraud down the toilet. The markets will not return until confidence and trust are restored and there are indictments, transparent books and sensible regulation.

Now, in all fairness to Obama, we are less than 60 days into the new administration, after 8 YEARS of historically-awful BUSH on top of 8 YEARS of the triangulating slickster BILL.

Blaming this entire mess on Obama at this point is contrived, framed, false, fake, manufactured GOP talking point outrage.

Not saying anybody is beyond criticism, but if you’re one of these losers who throws out shit like “Obama makes the stock market fall” — well, you’re just a DOUCHEBAG. Maybe the market SHOULD FALL. How about that? Maybe Citigroup stock is only worth $1 because they operate a FRAUD?! Maybe that’s fair market pricing?! Don’t even get me started about AIG…

Look, we’ve got a lot of issues to work through. It’s a disaster. We ought to be finding common ground at this point, trying to move forward. The finger-pointing and GOP talking points, those are just trademarks of “THE LOSER”.

[Author]

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