Willie and Wesley and the boys...
 

On Sun, 08 Feb 2009 14:32:55 -0500, Dave LaCourse
wrote:

On Sun, 08 Feb 2009 09:25:29 -0600, Ken Fortenberry
wrote:

We're all going to have to sacrifice but I don't buy into the notion
that this economic catastrophe can be attributed to the citizenry.
That sounds like George Will pontificating from on high and it's just
flat out wrong. This catastrophe was caused by a lack of regulatory
oversight. It wasn't the poor schmuck who bought more home than he
could afford, it was the bankers who called that 'C' rated mortgage
a 'AAA' rated mortgage and the so-called regulators who let them get
away with it that are at the bottom of this pyramid. Take thousands
of such mortgages, bundled them up, sell them as if they're 'AAA' nine
or ten times, leverage them some hundred fold as derivatives and then
stand back and watch Lehman Bros. bite the dust. Don't blame this on
the citizenry.

Exactamundo. And the failure of F and F can be attributed to those
who had oversight on them, namely Barney, Dodd, Obama, et al. I can
still see the clip of Barney in 2006 saying, "There is nothing wrong
with F and F. They are doing well." Horse caca!

Dave

Let's get this straight: the USA has officially been in recession since
December of 2007. At that point, the Democrats had been in control for less
than a year. Otoh, the Republicans had been in control since 1994 - over 12
years at the helm, before they were kicked to the curb by popular revolt.

Only a complete moron would stick with the bull**** line that the trillions of
dollars of dubious loans - personal and commercial - that have sunk the
banking system (estimates run as high as 16 trillion dollars of "toxic debt")
was rung up in less than a year.

Willie and Wesley and the boys...
 

The Truth wrote:
Dave LaCourse wrote:
Ken Fortenberry wrote:
We're all going to have to sacrifice but I don't buy into the notion
that this economic catastrophe can be attributed to the citizenry.
That sounds like George Will pontificating from on high and it's just
flat out wrong. This catastrophe was caused by a lack of regulatory
oversight. It wasn't the poor schmuck who bought more home than he
could afford, it was the bankers who called that 'C' rated mortgage
a 'AAA' rated mortgage and the so-called regulators who let them get
away with it that are at the bottom of this pyramid. Take thousands
of such mortgages, bundled them up, sell them as if they're 'AAA' nine
or ten times, leverage them some hundred fold as derivatives and then
stand back and watch Lehman Bros. bite the dust. Don't blame this on
the citizenry.
Exactamundo. And the failure of F and F can be attributed to those
who had oversight on them, namely Barney, Dodd, Obama, et al. I can
still see the clip of Barney in 2006 saying, "There is nothing wrong
with F and F. They are doing well." Horse caca!

Let's get this straight: the USA has officially been in recession since
December of 2007. At that point, the Democrats had been in control for less
than a year. Otoh, the Republicans had been in control since 1994 - over 12
years at the helm, before they were kicked to the curb by popular revolt.

Only a complete moron would stick with the bull**** line that the trillions of
dollars of dubious loans - personal and commercial - that have sunk the
banking system (estimates run as high as 16 trillion dollars of "toxic debt")
was rung up in less than a year.

And only a complete moron would claim that Freddie and Fannie were
more than a drop in the whole toxic bucket. But there's no use trying
to explain reality to Louie because reality has a liberal bias. ;-)

--
Ken Fortenberry

Willie and Wesley and the boys...
 

"Ken Fortenberry" wrote in message
...
This catastrophe was caused by a lack of regulatory
oversight. It wasn't the poor schmuck who bought more home than he
could afford, it was the bankers who called that 'C' rated mortgage
a 'AAA' rated mortgage and the so-called regulators who let them get
away with it that are at the bottom of this pyramid.

to absolve the greedy yuppies and wannabes of any responsibility for buying
**** they couldn't afford would be every bit as wrong as Louie's pure
bull**** that the Democrats caused the problem in 2006. Blame enough to go
around, to both parties and a big chunk of the public.


Poor Louie, that damn Barney Frank really has it in for him. ;-)

apparently ****ed in David's cornflakes, he did.
Tom

Willie and Wesley and the boys...
 

"Dave LaCourse" wrote in message
...
Horse caca. The couple with the BMW lost their jobs.

exactly my point....when that happened, they were not prepared, financially
to weather the bad spell. That's called personal financial planning.
Perhaps, if they had bought a used Honda, or a new Hyundai or Ford Focus,
they could afford ****ing food. It's a matter of saving for a rainy day. I'm
sure your parents taught you that lesson, I know mine did.
Remember how excited you were when
you bought your first home? The loan officer at the bank went over
everything about your income and how you could pay for it. And, it
turned out he was right.

let's run with this one, big guy. I have purchased exactly ONE home. It was
valued at about 3 times my annual income. I knew I could afford it, I knew I
could pay for my housing expenses and weather any economic hardships, like
the medical expenses I had to deal with for my wife and daughter. That was
because I was a responsible home buyer. The bank never did a lick of work, I
was assured of approval within 72 hours of application, thanks to MY
prudence. When the hell did personal responsibility go out the window?

And, as Forty put it earlier, and you alluded to, lenders share
responsibility too, for going for short term profits through a tangled web
of dubious paper, and not making responsible loans(wait until commercial
loans start hitting the fan, if you liked what housing did to the financial
sector). As has been discussed, the international connections in all of this
complicate matters greatly, so who knows if or when we can get out of this.
And, yes, I lived through the 1970's, the bad economy had everything to do
with a post-war economy, nothing really to do with Jimmy Carter(gee, what a
surprise, Dave wrongly blames Democrats, again...), and wasn't a gnat on an
elephant's ass compared to what we are up against now. If you don't get
that, I feel sorry for you, Dave. I really do.
Tom

Willie and Wesley and the boys...
 

"The Truth" wrote in message
...
Only a complete moron would stick with the bull**** line that the
trillions of
dollars of dubious loans - personal and commercial - that have sunk the
banking system (estimates run as high as 16 trillion dollars of "toxic
debt")
was rung up in less than a year.

well, that's our Pirate. But, we still love him!
Tom

Willie and Wesley and the boys...
 

On Sun, 08 Feb 2009 22:09:48 GMT, "Tom Littleton"
wrote:

If you don't get
that, I feel sorry for you, Dave. I really do.

No you don't. You and Fortenberry have lost a friend. I am tired of
your ad hominem insults and slurs.

I am beginning to think that Connor is right: This cesspool that was
once a nice place to visit has become unbearably boorish. It is no
longer a fishing group, but a place were politics is the subject du
jour. And if you do not agree with what others are saying, you are
immediately insulted, called dishonorable, stupid, etc.

You guys can't carry on a conversation with an old friend without
insulting him. And, no, I'm not being overly sensitive about it.

Willie and Wesley and the boys...
 

"Dave LaCourse" wrote in message
...
On Sun, 08 Feb 2009 22:09:48 GMT, "Tom Littleton"
No you don't. You and Fortenberry have lost a friend. I am tired of
your ad hominem insults and slurs.

sorry to **** you off, David. I think the world of you, as a person. I just
feel your judgement on this sort of thing is terribly clouded by ideology.
As I said earlier, any rational person reading these threads can see that I
feel a lot of parties are responsible for the current state of affairs.
Hell, I just took Forty to task for not laying a good deal of blame on
irresponsible home buyers and creditors. If you are going to keep insisting
it all just popped up, out of nowhere, in 2006, I am going to keep calling
you on the BS. Nothing personal, I just feel you are very wrong, and I think
it is beneath you to keep fingerpointing around ideology in a time of pretty
serious national crisis.

I am beginning to think that Connor is right:

If, after that line, you didn't step back and think, you might want to......


And, no, I'm not being overly sensitive about it.

yes, you are. I was disappointed that you, who has been around for more
years than I, couldn't offer more insight than "Barney Frank, Chris Dodd and
Barack Obama caused all of this....." Nothing personal, I simply expected a
little more nuance.
Don't get all bent out of shape, we've all argued like this for years, and
still managed to fish, drink and dine together. It's ROFF, as it always has
been. Do I have to remind you of some of the Tim Walker or George Gherke
threads? Yeesh!
Tom

Willie and Wesley and the boys...
 

On Feb 9, 1:02*am, "Tom Littleton" wrote:

I am beginning to think that Connor is right:

If, after that line, you didn't step back and think, you might want to.......


* * * * * * * * * * * * * * * * * * * * * * * * * * * * *Tom

Heh heh, maybe he started thinking before he posted it?

Willie and Wesley and the boys...
 

wrote in message
...
Heh heh, maybe he started thinking before he posted it?
--
"The last one, I wont reply to you again, because there is simply no point
in doing so, nor will I post to either of the groups again.

Mike Connor"

8/3/08 7:30 pm EDT

Willie and Wesley and the boys...
 

Tom Littleton wrote:
"Dave LaCourse" wrote:
No you don't. You and Fortenberry have lost a friend. I am tired of
your ad hominem insults and slurs.

sorry to **** you off, David. ...

Goodness, I think someone is getting way too thin-skinned in his dotage.

I am beginning to think that Connor is right:

If, after that line, you didn't step back and think, you might want to......

Two words: Senile Dementia

And, no, I'm not being overly sensitive about it.

yes, you are. ...

I still think the poor guy is constipated.

--
Ken Fortenberry