The bill I was talking about was the Commodity Futures Modernization Act of 2000. Phil Gramm snuck it in with a completely unrelated omnibus spending bill that Clinton had been trying to pass for some time. It's common knowledge that no one in congress even read it (it was submitted right before Xmas break) and it passed. Clinton and congress were negligent but Gramm & friends are the fucktards responsible.

But the Democrats supported the bill too. I'd say both parties should share the blame.

Oh well, I guess the Democrats can do no wrong. :bowdown

They supported the Omnibus bill it was tacked onto, not the Phil Gramm bill. It was completely unrelated and Gramm slipped it in in the 11th Hour and no one even read it. They do that all the time, I don't know why they tack on unrelated bills. It's fucking stupid.

Also, Democrats tried to have the policy repealed this year and Bush vetoed it.

Begone with reality! I command thee

(drum roll) And McCain's solution to the financial meltdown that was caused by deregulation = more deregulation :1orglaugh

True.

And every company that lost billions of dollars of money and let shareholders down should step up and take responsibility - they are in charge - because not every bank ran themselves into the bank. Some of them have come out of this with increased marketshare and the ability to buyout weakened competitors.

And every person who bought a condo to flip and lost money should take responsibility for their household's poor decision - they are in charge- because I and many like me had the chance to do it and thought it was foolish. How many times someone offered me the chances to get in on such great investments from 2003-2005? How about you?

And every person who bought a house they couldn't afford. (I know I bought a house that I more than can afford by any reasonable standard. Didn't you?)

And every lawmaker who voted yes to laws that contributed to the mess. Stand up.

And every president who signed such laws into legislation. stand up.

It goes on and on and on.

Nearly every single person or company having trouble related to the housing fallout made a poor decision that got them there. They should stand up and say "the buck stops here"


Uhhhhh .. how come no one stood up?

Ok - I´ll admit it...

I caused the great depression of 2008!

... sorry guys :Oh crap

Don't be silly. Hitler printed money and look at how it turned out for hi... Oh yeah... Never mind. :1orglaugh:1orglaugh:1orglaugh

Blame headless for bad economy.

Thank god the dems are helping out by bailing out big business! Way to show us that the dems are no different than the reps Dodd!

http://latimesblogs.latimes.com/lala...nk-of-ame.html

FUCK YOU ALL :)

The amount of economic illiteracy packed into those paragraphs is truly breathtaking. :upsidedow

I'm eagerly awaiting your book. In the meantime how about a blog?

Here's an interesting book by somebody who knows some of the inside stories:

Behind The Housing Crash: Confessions of an Insider

Excelelnt post. And fuck those stupid enough to vote another republican into office.

Great response, you really showed him.

You think things are bad now?

The economy is going to get much worse once Bush is gone.

:winkwink:

Here's a few I read and highly recommend. Some directly about the present crises. others related or historical.

The New Paradigm for Financial Markets - Soros (Containing the best history of collateralized mortgage based debt instruments that I've found yet.

Subprime Solution - Shiller (Reading this right now but his other books were awesome)

Trillion Dollar Meltdown - Charles Morris

Demon of our own design - about the dangers of financial innovations and the problems with the inherent leverage

Panic of 1907 - extremely well-written look at the crisis in 1907.

Extraordinary Popular Delusions and the Madness of Crowds - a book I read 30 years ago

Hmmmmm. Could all of this have been caused by affirmative action policies?

Lets take a trip back in time
and what was the Democrats response

http://query.nytimes.com/gst/fullpag...gewanted=print

Sure looks like you can lay all the blame on Bush. The Dem's were on the ball with what was building :thumbsup :1orglaugh

Another one:

The Real Culprits In This Meltdown

It' amazing to see the amount of dumb people on this thread.