Democracy still works. Bill a no go

[NorthernMonkey]

These hedge fund, investment banker 'listen to my advice' shitheads led us straight into this disaster hand-in-hand with the Federal government and you expect they're going to show you the way out?

We are witnessing massive-scale theft and the accountability is completely diluted. POS finance professionals have walked away with big payouts for years while companies and individuals get destroyed, all in the name of greed and power. I have no patience for professional system-gamers who tell me to trust our blatantly incompetent or corrupt leadership as they piss vast amount of my money and future earnings into the wind.

NorthernMonkey is on-board with the program and whether he thinks it's the best thing for the economy or not, he certainly thinks that it's the best thing for himself and his hedge fund buddies. After all, if there is no more market, it will be hard to pull easy money scams. Can't do much naked shorting or sell people loans when everything is already in the gutter and there is no confidence in the confidence game.

He's another program-pumper and I don't care if he's a standard-bearer, king, or pawn, in my mind that makes him an enemy of mine.

You can't spend your life making conspiracy theories out of every situation, the paranoia will kill you. Everything I've posted has been my honest opinion; I have no political or financial motivations but what would I have to gain if I did? Trying to influence a couple of hundred forum users from around the globe is hardly going to change the world.

The single biggest issue with finance is this - when all is well and everyone is financially sound, everyone pats you on the back; the minute things go bad (and they always will, world economies fluctuate like any other cycle) many point the finger of blame and some even spread ridiculous theories as to why it's gone bad which really does nothing to help the situation; some of the worst offenders are the various political parties using it as an excuse to gain points against their opposition.

[Homebelly]

Wrote a whole bunch of stuff about Naomi Wolf.

This thread had gone off the boil, and the other one that it would have fit into turned into a Utopia love fest.
So i started a new thread titles Naomi Wolf that got me into some trouble as it wasn't detailed enough.. any how, there is a link in there to an interview with her where she talks at length about the "Coup"...

[deva]

The single biggest issue with finance is this - when all is well and everyone is financially sound, everyone pats you on the back;

everyone financially sound? that is just fantasy and is an example of how far removed the financial sector is from real life... over 50 million people in the US have no healthcare... many millions more are under insured and one major illness away from financial ruin... and that was during the so called good times

[deva]

Wrote a whole bunch of stuff about Naomi Wolf.

This thread had gone off the boil, and the other one that it would have fit into turned into a Utopia love fest.
So i started a new thread titles Naomi Wolf that got me into some trouble as it wasn't detailed enough.. any how, there is a link in there to an interview with her where she talks at length about the "Coup"...

US troops being deployed on US soil 1 month before the election is really creepy...

Is Bush gonna declare martial law? Is the election going to be stolen and those troops are to put down the riots that will ensue? Do they expect the financial situation to collapse so far and so fast that soldiers will be used soon to repress civil unrest?

Any of those are scary options.

[sublimelobc]

Unless you have traveled a little in central and south america, you don't realize that even the very poor in the US live quite comfortably compared to countries where the majority may live in true poverty (where lack of access to healthcare is nothing compared to living without access to a clean water source)

"Good times" is such a subjective statement....even for somebody that has seen both extremes of the disparity in wealth our environment quickly programs our opinion of wealth. If you lived in the richest zipcode growing up, you were still poor if you were the only kid in school driving an american car if everybody else was driving german.

The fact of the matter is, the easy access to loans in the US has created a lifestyle that can't be sustained...something has to give. Even when things change drastically, as they may have already done....or if they get much worse, then sun will still rise.

If things get too crazy and all production chains and supply chains dissolve and money becomes worthless, let's just all get together and migrate to a nice beach in Costa Rica and play guitar all day, lay in hammocks and eat mangos off the trees. Surf's up!

[Machinesworking]

The single biggest issue with finance is this - when all is well and everyone is financially sound, everyone pats you on the back; the minute things go bad (and they always will, world economies fluctuate like any other cycle) many point the finger of blame and some even spread ridiculous theories as to why it's gone bad which really does nothing to help the situation; some of the worst offenders are the various political parties using it as an excuse to gain points against their opposition.

What I don't get is there were new rules put into play, (tired, but if need be I'll look it up) that allowed for some really really high risk loans. Lenders were allowed enough rope to hang themselves with the help of the borrowers obviously. My only complaint with your "impartial" opinion is that you seemingly aren't willing to admit that the greed factor was just as if not more damaging coming from the lenders as it was the borrowers.

I'm not asking you to decry capitalism, just to admit that some, if not a major portion of the blame is due to greedy/foolish lenders, with supposedly high education and skill sets, and that although it's true that a person has free will and shouldn't borrow more than they can etc. it's almost certain that some borrowers are duped into taking the loan as they are desperate for a nice home etc.

I can admit that in the construction industry there are contractors that sell you an initial bid knowing full well that X Y and Z extras and add ons will pop up almost doubling that initial bid. In fact I would say almost 25% of the industry works this way in order to get the client in the door and avoid initial sticker shock.
There. It's easy to admit to the wrong doings of people in your own industry. Your turn.

[NorthernMonkey]

My only complaint with your "impartial" opinion is that you seemingly aren't willing to admit that the greed factor was just as if not more damaging coming from the lenders as it was the borrowers.

http://www.ableton.com/forum/viewtopic. ... ers#754088

[ethios4]

So, would tighter regulation of the industry have prevented this crisis from happening? I'm getting the feeling that it would have, and if so, it is helping me to understand why people get upset about notions of deregulation, ala Ron Paul.

[NorthernMonkey]

So, would tighter regulation of the industry have prevented this crisis from happening? I'm getting the feeling that it would have, and if so, it is helping me to understand why people get upset about notions of deregulation, ala Ron Paul.

Probably not, the creation of regulations within finance are generally retrospective and triggered by a particular series of past events. Finance/investment is constantly evolving and no-one can say for certain what shape or form it will be in the coming months and years, and even if one route is blocked or restricted with regulations an alternative route will probably be used/created. As for Ron Paul, I don't know enough about US politics to answer that one; tbh I'm not a huge fans of politicians, they're all as bad as each other.

[deva]

As for Ron Paul, I don't know enough about US politics to answer that one; tbh I'm not a huge fans of politicians, they're all as bad as each other.

Well, no they aren't. Cynthia McKinney, Dennis Kucinich, and Ron Paul are all distinctly different from the likes of McCain and Obama. Now if you say the politicians who rise to the top are all the same, then I would agree with you.

Any area, including finance, has some good people, but the ones who get into positions of power rarely ever serve the interests of the population.

[deva]

Dow down 1800 since the 'bailout' bill passed

[NorthernMonkey]

Dow down 1800 since the 'bailout' bill passed

$0 used so far. Carry on.

[Emissary]

Dow down 1800 since the 'bailout' bill passed

shhhhhh...its working fine, nothing is wrong.....shhhhhh...you'll wake northernmonkey .....go back to sleep.....shhhhhh

[Emissary]

Dow down 1800 since the 'bailout' bill passed

$0 used so far. Carry on.

shit too late

[deva]

Dow down 1800 since the 'bailout' bill passed

$0 used so far. Carry on.

shit too late

hehehehe... too late...

make that 2000 points down...