The Greater Greed

Here is the deal paulejb. Credit Default Swaps came out of the Gramm-Leach-Bliley Act. It was proposed by three Rs. When it was first passed in the Senate there were 53 Rs for and 44 Ds against. In other words, it was an exclusively R invention and proposal. That is where our financial crisis was conceived and where it came from.

Because it got caught in 'conference committee', improvements to the Community Reinvestment Act were added. That is how the GBLA got 'sold'. The GBLA was entirely a creation of the Rs. The CRA is the law that the uninformed dupes of the propaganda machine think 'forces banks to make loans to unqualified borrowers'. That's the propaganda redherring. But the CRA forces no one to make a loan to any unqualified borrower. It prohibits 'redlining', the practice of not lending in certain areas.
Blaming Dems for what was done under the GLBA is like blaming Dems who voted for the Iraq invasion for how Dubya screwed it up.
Here's an article from BusinessWeek that shoots down the BS about the CRA.
Community Reinvestment Act had nothing to do with subprime crisis
Posted by: Aaron Pressman on September 29
Fresh off the false and politicized attack on Fannie Mae and Freddie Mac, today we???re hearing the know-nothings blame the subprime crisis on the Community Reinvestment Act ??? a 30-year-old law that was actually weakened by the Bush administration just as the worst lending wave began. This is even more ridiculous than blaming Freddie and Fannie.
http://www.businessweek.com/investing/insights/blog/archives/2008/09/community_reinv.html

Why little to no outrage about IBM shipping jobs overseas ? - US companies that do this should have the crap taxed out of them.

Greeeeed by CEO's, Bankers and Wall Street is what is destroying capitalist America and driving it into socialism. Correct this greed problem and it will be corrected.
http://www.pbs.org/now/politics/politics_pop/index.html

I always ask people how much is enough??? I've been told more than once that there is never enough!!! I am poor and happy with what I have. I have rich in-laws. My husband has a trust fund in his name ONLY from his wealthy family. They've made certain that only he benefits from the fund. My brother-in-law, very wealthy, went to see his ailing father only to find stashed cash and gold bouillion everywhere. His father died and this rich man inherited a fortune. My sister-in-law has commented that he will never divorce her because he will never part with half of his money. They have five automobiles and a Prius that's only been driven once. They enjoy their gas guzzlers. We have one old Toyota truck 10 plus years and going strong. My point is this; I will never sell my soul for money and I would never stay with a man for money. I wouldn't trade my simple life for theirs and their soul desire to stay together for the sake of money. I've been married to the man I love for 22 years and counting. We've been poor the whole time but we have fun and a real life and not a fake one. I never thought to marry for money. I always followed my heart and it has served me well.

Philosophy,Dreams,and statements all woks all is good open your maind don't let any body convince you take all you money some day will wok this administration knows nothing, is not the same thing Bernard Madoff did to convince all the people to invest their money, cut be kind of ironic but this hole thing to keep take this administration more and more is not kind of reflection for what Madoff's did, just kind of cuestion for what we learn and things happen right now.....

"Greed will Destroy the Selfish....

And Greed will Continue to Exploit & Profit Off the Poor and Working Class People of the World"

Greed Rewards Only those Greedy and Heartless Enough to use others for their own Financial Gain and to Rest Peacefully, knowing all the while the Masses of Humanity Suffer.

Charles Dickens: "Let Him Die and Decrease the Surplus Population"

Scrooge, Referring to the Character Tiny Tim and his Chronic Condition.

This is the Attitude of the Greedy, Rich & Powerful, until they themselves are faced with their own Mortality, or Someone they Love, is faced with an Affliction, that their Money Cannot Buy, Alter or Change.

The Title should be....

"Who thought they had Perfected Greed...

But Failed on Two Mighty Shores"

"American and Western European Capitalism at its Worst and why"

Capitalism and Greed..........

"We may not have Invented Greed or Capitalism, but we sure as Hell, Did a Great Job of being the Very Best at Screwing Up the World's Economy, Especially our own"


It doesn't matter who started Greed or Capitalism, the Bottom line, who are the one's Touting Capitalism as the All to be All and who Completely Proved themselves as Empty Suits and were Bailed Out via Hard Working Tax Payers Money...

Which Most People call...

[[Corporate Welfare]]

Don't we Wish we could be those at GM, Ford, Chrsyler, Bank Of America, Citi-Group, Wall Street and a Ton of others, who Made off like Bandits...

With the Hard Working, Tax Paying Citizens , left paying the Tab...

Must be Nice to have it going like that, with no remorse or after thought, regarding getting [[Bailed out]] by Tax Payers...

I mean getting [[Corporate Handouts]] from the Government and your average citizen, gets... NOTHING.

Once upon a time there used to be such a thing as Honor, Courage, Dignity & Integrity and the notion of doing the right thing simply because it was the right thing to do. There apparently is no one left in a position of power or influence who subscribes to that notion. There are far too many fools who rush to defend the actions of the very people who have habitually lied, cheated, stolen and conspired their lives away in amassing fortunes at the expense of others. All of this under the guise that Capitalism and a supposedly superior intelligence/work ethic justify that these individuals should have the right to ruin lives at will because they are ???smarter than you??? and that those with moral values possess lower IQ???s and are essentially welfare recipients who should all aspire to the same tendencies. I may be an ignorant, unsophisticated Idealist but I am not a criminal, and I vehemently object and reject this elitist dogma for what it is, CRIMES AGAINST HUMANITY, perpetrated by Corporations, aided and abetted by Government, currently funded by the masses. Think for a moment what this country will be like in the next few decades if this is allowed to continue. Trillions of retirement dollars have already been lost, never to be recovered. Jobs of every pay level are still being outsourced out of the country to the lowest bidder. As personal income and savings dry up, the crime rate will soar as people resort to doing whatever necessary to provide for their basic needs. Social Security, Medicare, Medicaid etc. will be overwhelmed and cease to exist. But don???t worry about all of that, Greed is a good thing.

Wall Street may not have invented greed, but they surely perfected it.

The other thing we learn to to work for the Greed and we live for the Greed, that is the fact this is nothing new, like Landlords amd Bank Institutions they create the capitalism in this economy the money for them was like opium, we only been manipulated on this Society on diferent way's ,
To me those who reseive the stimulus check is just another problem for us, I feel like I will sold my soul that money is nothing than trouble,you realy think that money will help for some family's can't pay their own rent on this times or buy some goods with that and Mr:Obama think people will buy everything with that money what is going on with this people they think can convince all, I don't think so............

I just let you know people with open mind never see any differences,
sample we been at the same world most items change some maids never change, let me ask you why we have to pay to protect our computer, in some cases some people have to spend hundres a year to be protected?.
This remains me we still at the same point with no change over 40 years,it is no improvement in some peoples mind but for most it is ok, when we going to past the line and see more clear.......

Wait, wait. I get it, the world is made up of greedy people. But I'm tired of hearing about the AIG bonuses paid to the "current" staff. What about the bonuses paid to the real culprits of this debacle? Joseph Cassano, the dirt bag that started this whole thing pocket millions and then walked away to let others clean it up. That's real greed...and it's these guys that need to be answering indictments and ponying up the ill-gotten gains.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1

We're so quick to pin greed on the current staff at AIG. But the real criminal is Joseph Cassano who started this whole mess then walked away with millions leaving others to clean it up. There's certainly plenty of greed to go around in this entire debacle. But more importantly we need to understand what happened and more importantly who is actually responsible.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1

Actually a system that encourages the pursuit of excessive wealth for the sake of it is pretty greedy. If you have developed a system for fleecing society of vast amounts of money for something that is out of date the minute you get it, has all kinds of problems, has security flaws and backdoors for the intelligence agencies and hackers and amass vast profits that are sucking society dry just like robber Oil and steel and railroad barons of the 19th century and give a small percentage of it away for tax benefits you are all the sudden the greatest man on earth.
Develop a way to market fake assets to investors and get a bonus for the sale of it even though they cause the company to go bankrupt doesn't seem llike a good contractual reason for a bonus since the sales destroyed the company as well as the investors.
Giant CEO salaries and bonuses for multi-national companies around the world regardless of the companies performance and with the rest of the workers pay declining is a problem leading toward class warfare.
Bonuses should be distributed to the entire company or not all. The problem solved. And the minimum wage and cost-of-living adjustments should be tied to Congressional salary increases. Another problem solved.
Greed and bubbles in business goes back hundreds of years, is well known, and non-enforcement of the regulatory protections just lets it happen over and over again. It also has been involved in western civilizations 3M's Military, Merchant, and Missionaries colonial projection into the world to open new markets for rape,pillage, and conversion.
Wall Street's part in it started with the worthless beads and trinkets for Manhattan while the Indians politely tried to accept the garbage with a straight face only to find out it wasn't a cheap gift. It had something to do with a ridiculous concept called property as opposed to shared earth.
Now take the twin phallic symbols of western commerce and think of the commercial collateral damage some of those companies have done and someone thinks the people of those companies were just so much collaterel damage and we seem to think all the Iraqi's wrongly targeted after 9/11 are just so much collateral damage.!
Then you may begin to get a better picture of the symbolic event that struck a commercial and military power spot on 9/11. and our creation of many mini 9/11's and millions in exile and chaos in the memory of the 9/11 victims. I'm not sure they would be all that impressed!. Something to think about as opposed to stroking our over-infalted ego.

Two months ago:
1. Outgoing President George W. Bush quietly boards his helicopter and leaves for Texas , commenting only: "Today is not about me. Today is a historical day for our nation and people."

Eight years ago:
1. Outgoing President Bill Clinton schedules two separate radio addresses to the nation, and organizes a public farewell speech/ rally in downtown Washington D.C. scheduled to directly conflict with incoming President Bush's inauguration ceremony.

Two months ago:
2. President Bush leaves office without issuing a single Presidential pardon, only granting a commutation of sentence to two former border patrol agents convicted of shooting a convicted drug smuggler. He does not grant any type of clemency to Scooter Libby or any other former political aide, ally, or business partner.

Eight years ago:
2. President Clinton issues 140 pardons and several commutations of sentence on his final day in office. Included in these are: billionaire financier, convicted tax evader, and leading Democratic campaign contributor Marc Rich; Whitwater scandal figure Susan McDougal; Congressional Post Office Scandal figure and former Democratic Congressman Dan Rostenkowski; convicted bank fraud, sexual assault and child porn perpetrator and former Democratic Congressman Melvin Reynolds.
Eight years ago:

Headlines On This Date 4 Years Ago:
"Republicans spending $42 million on inauguration while troops Die in unarmored Humvees"
"Bush extravagance exceeds any reason during tough economic times"
"Fat cats get their $42 million inauguration party, Ordinary Americans get the shaft"

Headlines two months ago:
"Historic Obama Inauguration will cost only $170 million"
"Obama Spends $170 million on inauguration; America Needs A Big Party"
"Everyman Obama shows America how to celebrate"
"Citibank executives contribute $8 million to Obama Inauguration"