We should evict that a-hole from our house. He should be dragged out and thrown down

Is that Phillip Banks' house?

you have the wrong building this is the right one

No, those a-holes are just trying to deal.

No need to evict them until they prove to be as incompetent as the big shot chimp fuck moron in the Whitehouse. That will be known after the 700 billion has been spent.

I heard Buffett say he would completely trust Treasury Secretary Henry Paulson with a "blank check."

It gave me more confidence in that treasury a-hole, but now I find myself wondering exactly how much do I trust Warren? A lot . . . I think (even though he also has his self interests to consider).

You are sticking up for the FED????

really??????

you have some research to do my friend.

Oh?

How exactly did the fed cause this current fucking nightmare?

Since you've already done your research, just post a quick top 5 reasons (or whatever).

Seriously, I (honestly) don't know.

The main thing I want to research at this point is how I become "the hand 2" so I can grab that other sweet cheek:



Ya, you could say I'm jealous.

I wasn't referring to them starting this nightmare, but they have the power to manipulate it however they see fit. I'm sure that will come out in the future. History repeats itself, just take a look at the past practices of the Fed. Particularly in 1929

* The Fed began raising the Fed Funds rate in the spring of 1928, and kept raising them through a recession that began in August 1929. This led to the stock market crash in October 1929.
* When the stock market crashed, investors turned to the currency markets. At that time, dollars were backed by gold held by the U.S. Government. Speculators began selling dollars for gold in September 1931, which caused a run on the dollar.
* The Fed raised interest rates again to try and preserve the value of the dollar. This further restricted the availability of money for businesses, causing more bankruptcies.

* The Fed did not increase the supply of money to combat deflation.
* As investors withdrew all their dollars from banks, the banks failed, causing more panic. The Fed ignored the banks' plight, thus destroying any remaining consumers? confidence in banks. Most people withdrew their cash and put it under the mattress, which further decreased the money supply.

Bottom line...thanks to the Fed, there was just not enough money in circulation to get the economy going again. Instead of pumping money into the economy, and increasing the money supply, the Fed allowed the money supply to fall 30%.

First you have to get a baller watch & some selves, the rest falls right in to place

1. The Fed completely ignored the subprime mortgage lending when it first started. It didn't call for regulations. It knew that people were borrowing more than they could afford to pay back.

2. Investment banks borrowed 20 times their net worth and put it in the market. This increased potential losses by 20 times. So a bank only needed to lose 5% in order to go out of business. The Fed ignored this and didn't call for regulations.

3. The Fed refused to increase interest rates beginning in 2003. Rates are at 2% right now. Since 1930, consumer spending accounted for 65% of economic activity. In the 2006 and 2007, it has accounted for 73% of economic activity.

Bernanke ignored this fact. It is undeniable that consumers are spending too much.

He was afraid that increasing rates would cause a recession. So he kept cutting rates when he should have increased them. He thought that he could push the recession far far away and never have to see it again, but all he did was cause it to come back even bigger.

4. The Fed refused to cut rates in the summer at what would have been a good time. Banks lost too much and by the summer were refusing to lend to anyone else. When they refused to lend, they ended their cash flow. And the Fed refused to cut rates 2 weeks ago.

5. The Fed went on a pattern of bailing out banks. They helped secure the sale of Bear Sterns. Then they put in $100 billion last April to help banks with bad debts. Was it really a surprise that they would bail out AIG? If you reward idiots for screwing up, they will just keep screwing up.

The best you can do is to bring up a mistake from 80 years ago?

No, I could do better, if I weren't so busy working, and stuffing my mattress with Ziplock baggies full of cash.

Luckily wootpr0n hit the nail on the head.

That is all, you may return to your delusions that the president, whomever it may, be has any power this situation whatsoever.

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