On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.

I never graduated.

"[...]So if a politician voiced an opposition point of view, and some
did, there was a real risk of them being beat down by an opponent
financed by the financial industry. Doesn’t that kind of weaken the
ability to have a real discussion?

Absolutely. There’s a chilling effect. One of our commissioners,
Brooksley Born, she’s the classic case. Brooksley Born was appointed by
[President Bill] Clinton in 1996 to head the Commodity Futures Trading
Commission. She was one of our 10 commissioners. From 1994 to 1996 or
1997, there were a series of scandals involving the highly risky use of
the over-the-counter derivatives; these are the ones not traded on the
Chicago Board of Trade and the commodity exchanges. There was a big
scandal at Procter & Gamble with Sumitomo Bank. So Brooksley Born, as
chair of that commission, stepped forth and said, “I think we ought to
discuss whether these over-the-counter derivatives”—which ultimately
grew to this multitrillion-dollar industry by the time of the
crisis—“should be regulated.” She put out a concept paper to discuss it.

Well, she was immediately shut down by the powers that be. It was
[former Chairman of the Federal Reserve] Alan Greenspan, it was [former
Secretary of Treasury] Robert Rubin, it was [former Securities and
Exchange Commission Chairman] Arthur Levitt, it was [former Secretary of
Treasury] Larry Summers and it was the financial industry. And they
essentially put a stop, they went to Congress and said that Congress
ought to adopt a moratorium on any regulation—and then two years later,
they got a complete ban on regulation. So this is an example where
someone stood up, said the right thing and was put down for it. But this
should be a constant source of concern, because also more and more power
is concentrated in fewer and fewer banks. Between 1990 and 2005, I
believe the top 10 banks in the country, their share of assets grew from
25 percent to 55 percent. After the crisis now, we have fewer big banks,
because Lehman [Brothers] went under, Bear Sterns went under, Merrill
Lynch merged with Bank of America. The concentration of power by fewer
banks is even greater today.[...]"
http://www.newsreview.com/sacramento...nt?oid=1923599

dave wrote:

On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.


Man, you are the biggest moron that graduated from a California public
school.

I never graduated.

"[...]So if a politician voiced an opposition point of view, and some
did, there was a real risk of them being beat down by an opponent
financed by the financial industry. Doesn’t that kind of weaken the
ability to have a real discussion?

Absolutely. There’s a chilling effect. One of our commissioners,
Brooksley Born, she’s the classic case. Brooksley Born was appointed by
[President Bill] Clinton in 1996 to head the Commodity Futures Trading
Commission. She was one of our 10 commissioners. From 1994 to 1996 or
1997, there were a series of scandals involving the highly risky use of
the over-the-counter derivatives; these are the ones not traded on the
Chicago Board of Trade and the commodity exchanges. There was a big
scandal at Procter & Gamble with Sumitomo Bank. So Brooksley Born, as
chair of that commission, stepped forth and said, “I think we ought to
discuss whether these over-the-counter derivatives”—which ultimately
grew to this multitrillion-dollar industry by the time of the
crisis—“should be regulated.” She put out a concept paper to discuss it.

Well, she was immediately shut down by the powers that be. It was
[former Chairman of the Federal Reserve] Alan Greenspan, it was [former
Secretary of Treasury] Robert Rubin, it was [former Securities and
Exchange Commission Chairman] Arthur Levitt, it was [former Secretary of
Treasury] Larry Summers and it was the financial industry. And they
essentially put a stop, they went to Congress and said that Congress
ought to adopt a moratorium on any regulation—and then two years later,
they got a complete ban on regulation. So this is an example where
someone stood up, said the right thing and was put down for it. But this
should be a constant source of concern, because also more and more power
is concentrated in fewer and fewer banks. Between 1990 and 2005, I
believe the top 10 banks in the country, their share of assets grew from
25 percent to 55 percent. After the crisis now, we have fewer big banks,
because Lehman [Brothers] went under, Bear Sterns went under, Merrill
Lynch merged with Bank of America. The concentration of power by fewer
banks is even greater today.[...]"
http://www.newsreview.com/sacramento...nt?oid=1923599

Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.

dave wrote:

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.

We have nice weather here as well. Unfortunately it's cold nice weather!

But, the hummingbirds will return in the next 6 to 7 weeks, as will the summertime
static :-(

On 03/06/2011 06:35 AM, dxAce wrote:


dave wrote:

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.

We have nice weather here as well. Unfortunately it's cold nice weather!

But, the hummingbirds will return in the next 6 to 7 weeks, as will the summertime
static :-(


We have hummingbirds now.

dave wrote:

On 03/06/2011 06:35 AM, dxAce wrote:


dave wrote:

On 03/05/2011 06:50 AM, dxAce wrote:



Bottom line: never trust any content out of Sacramento, as it is a hotbed of
Liberal/Democrat/Marxist/Socialists who have brought California to the brink
of bankruptcy.



We're always on the brink of something. At least we have nice weather.

We have nice weather here as well. Unfortunately it's cold nice weather!

But, the hummingbirds will return in the next 6 to 7 weeks, as will the summertime
static :-(


We have hummingbirds now.

Yes, and you also have BS 24/7/365 too.

Enjoy!

On Mar 5, 8:41*am, dave wrote:
On 03/04/2011 05:55 PM, Chas. Chan wrote:

Fannie Mae is a loan guarantor. She doesn't make loans.

Man, you are the biggest moron that graduated from a California public
school.

I never graduated.


Did you tell your mommy?