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The States: At Least Michigan is Better Than Indiana

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Re: The States: At Least Michigan is Better Than Indiana

The Rube said:
That's not going to last long. I think no matter what, that will change soon, at the latest, it'll start with the next presidential election. Personally, I'd say to Warren, "Hey, you won't be prez, but here, fix this financial stuff. Free reign, and go!" I'd be for that.
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If she doesn't win the nomination but we win the White House she would be very valuable as a public face of consumer protection and as the "Louis Brandeis" wing of fiscal reform. It will be interesting to see how a new Democratic administration would calibrate itself:

1. Same old sh-t (Booker)
2. Moderate middle class reform (Warren)
3. Democratic Socialism (Sanders)
4. Actual Socialism (Kepler)
 
Re: The States: At Least Michigan is Better Than Indiana

Honestly, if we could get W Buffett into gov't finance...that'd be wonderful. Said the same thing with Perot. Limit them to just finance stuff, but they'd be great. They know how to make a buck, if you didn't notice. ;) I think Warren could do the same thing.
 
Rover said:
NO! This is legally incorrect. Again, go back to The Big Short. How did Batman know to short the real estate market? Because he had his intern check on the loans that made up the securitized debt, and it was PUBLIC KNOWLEDGE that those mortgages were in default. Making a stupid bet (that real estate would continually go up) is not a legal basis for being indicted and arrested. Fraud is. You can write NINJA loans to strippers if you wish, as long as you disclose their source of income and how much they make (stripping, in this case) truthfully.

Also I believe the NY AG went after Hank Greenberg and the fraudfest that was AIG but for some reason they couldn't nail him on criminal charges but he was fined personally for his shi tty company's disgraceful acts.
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if "everyone" knew that the securitized debt was in default, then that would include the companies who were selling them. Do you think they accurately described the health of those products to the companies who were buying them? If not, that sounds like fraud to me.
 
LynahFan said:
if "everyone" knew that the securitized debt was in default, then that would include the companies who were selling them. Do you think they accurately described the health of those products to the companies who were buying them? If not, that sounds like fraud to me.
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Risky assets are sold every day. :)
 
Re: The States: At Least Michigan is Better Than Indiana

Let me ask this:

Are "big box" retailers any different with opportunities to sign up for their company's credit card? Their goals are to get every person through the doors to get the card. Is this not the same thing, just on a smaller scale? I mean, sure some people will rock a 790 score and will be able to take advantage of the 10% discount on a large purchase that will be paid off in a month. But how many people are in the 530 range and have no business with another card? The latter are played like a fiddle... Big Box don't care that their card will be the dagger that allows financial suicide for the cardholder.
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
Yet 90% of the consequences fell on homeowners with another 9% going to the government. The banks barely felt anything.
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Too big to fail, which was the only thing that would have hurt them.

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walrus said:
Too big to fail, which was the only thing that would have hurt them.

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If they're too big to fail, they need to be broken up or nationalized. Because at that point they represent an inherent national security risk.
 
Re: The States: At Least Michigan is Better Than Indiana

unofan said:
If they're too big to fail, they need to be broken up or nationalized. Because at that point they represent an inherent national security risk.
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We could definitely use another T.R. to do some trust busting, and not just in the financial industry.
 
Re: The States: At Least Michigan is Better Than Indiana

LynahFan said:
if "everyone" knew that the securitized debt was in default, then that would include the companies who were selling them. Do you think they accurately described the health of those products to the companies who were buying them? If not, that sounds like fraud to me.
Click to expand...

You just tried a bait and switch. I didn't say "everyone knew" that the underlying debts were in default. I said it was public information if you bothered to look. Very very few people did, but those who did (Batman and Michael Scott from that movie) made a mint. If the info is public, its not fraud.

Regarding too big to fail, again this has already been addressed via Dodd-Frank if anybody bothered to look. :rolleyes:
 
Re: The States: At Least Michigan is Better Than Indiana

ScoobyDoo said:
So ****ing stupid. We don't have enough people in that profession as it is and now they're punishing them? *** hell is wrong with people?
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Better yet, they can't pay their student loans, so let's take away their means of earning an income.
 
Re: The States: At Least Michigan is Better Than Indiana

Stop voting Republican. The solution is real simple if people choose to do so.
 
Re: The States: At Least Michigan is Better Than Indiana

Rover said:
Stop voting Republican. The solution is real simple if people choose to do so.
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It's pure ****ing insanity. And I stopped voting Republican so long ago I don't remember when it was. Probably when Arne Carlson's term ended.
 
Re: The States: At Least Michigan is Better Than Indiana

It’s insane but maybe one of our local Rs here can explain it.
Less health care workers, people unable to pay loans, so No solutions here. Brilliant
 
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