silicon valley bank

Might be easier to list the people in DC who aren't phonies...

 

That doesn't answer my question.

You don't have to take her word of it. Reality has proven her RIGHT. Your disbelief might have been relevant before she was proven right. But now it's irrelevant.

 

There are some people who are no darn good and can’t be trusted. Elizabeth Warren is one them. Happy? You now have the “high ground” or so you think. I’m sure you would say the same thing about most Republicans, especially Trump and DeSantis if he goes up in the polls.

 

That must mean you're ok with Disney losing its self governing privilege.

 

It was a huge screwup to let Lehman go under. After Bush did that, the LIBOR rate went toward the stratosphere and even large banks wouldn't lend to each other. Credit markets were frozen. There was a high-level meeting where Congressional leaders were told by the Treasury Secretary, Henry Paulson, that without a bailout the banking system would cease to exist. Do you remember seeing the meeting on tv?

Old Joe said every will get their money. At least he didn't make the same mistake Bush did.

If Old Joe hadn't calmed things down, I suspect all hell would be breaking lose as people and businesses would be panicking.

Do I have faith in Old Joe I would have had in JFK or Eisenhower? No.

 

i'm for the state of florida honoring its contracts. if an amusement park wants to handle its own security and safety , what's wrong with self reliance?

 

Disney was self regulated. You just said that can't be allowed.

 

Disney is subject to federal and state laws as well as their contract with Florida. . They are no less regulated than anyone else. Why would you think otherwise?

why will this site not put you on ignore?

 

Bush screwed up because starting around 1997, the GOP's Capital Market Subcommittee sponsored an investigation of the GSE's, Fannie and Freddie in particular, and found that they posed a systemic risk to our economy. After further review, it turned out that the GSE regulator, OFHEO, was put under HUD which was run by Andrew Cuomo. Not only did Cuomo fail to fund OFHEO, but in 1999 he demanded that the unregulated GSEs entice banks to originate loans to people who couldn't afford the payments, here:
HUD No. 99-131, July 29, 1999

CUOMO ANNOUNCES ACTION TO PROVIDE $2.4 TRILLION IN MORTGAGES FOR AFFORDABLE HOUSING FOR 28.1 MILLION FAMILIES

WASHINGTON - Housing and Urban Development Secretary Andrew Cuomo today announced a policy to require the nation's two largest housing finance companies to buy $2.4 trillion in mortgages over the next 10 years to provide affordable housing for about 28.1 million low- and moderate-income families.

Cuomo said the historic action by HUD raises the required percentage of mortgage loans for low- and moderate-income families that finance companies Fannie Mae and Freddie Mac must buy from the current 42 percent of their total purchases to a new high of 50 percent - a 19 percent increase - in the year 2001. The percentage will first increase to 48 percent in 2000.

https://archives.hud.gov/news/1999/pr99-131.html

In short, Democrats unleashed $2.4 trillion in toxic paper on the economy, putting minimum wage workers in homes they couldn't afford. The way banks do that is through adjustable rate mortgages. You may remember news blips starting around 2005 about mortgage defaults. Those blips were Cuomo's ARMs resetting from teaser rates to then current mortgage rates. In 2007, 2008 and 2009, Democrats decided that minimum wage earners carrying $2.4 Trillion in mortgage debt didn't need their jobs, so Pelosi and Reid raised the minimum wage to get them laid off.

Speaking of the investigations into Fannie and Freddie, Maxine Waters fought against regulating them and instead used her seat on the Capital Markets Subcommittee to lobby for "desktop underwriting" to put people into homes they couldn't afford. For being stupid, she went on to run the parent committee. On the Senate side, Chuck Schumer blasted the GOP for wanting to instill sanity into mortgage market with one of his signature guilt number speeches. For being equally stupid, Chuck went on to run the Democrat caucus in the Senate.

The dumbest of dumb was Andrew Cuomo who was rewarded with the Governorship of NY. Aside from being one of the architects of the Great Recession, Cuomo is known for dumping COVID positive people on nursing homes, killing countless elderly residents. It took mass murder to finally take Cuomo down.

Hope that explains how Bush screwed up.

 

so andrew cuomo's wokeness caused the 2008 crash? it had nothing to do with the innovative financial products that allowed wall st to transfer the risk of bad leans from the banks to the pension funds and mutual funds of the american working class?

 

Bush wasn't the president in 1997... LMAO

 

No they weren't. They were 100% self regulated and you folks lost your marbles when Desantis took that away from them.

https://www.popularmechanics.com/technology/infrastructure/a15155208/disney-world-government/

 

"control over sewage, roads, building permits, and many other facets of municipal control ." is no more "100% self regulated" than any american homeowner outside city limits.

 

https://www.popularmechanics.com/technology/infrastructure/a15155208/disney-world-government/

Wrong, as usual

 

i read your article and quoted it in my reply.

 

Government cannot fix a poor economy. It never has been able to do that. It needs to let the economy fix itself and stop doing things that hurt the economy. The bank failures result from incompetent bank management and incompetent government combined. The "inflation" resulted primarily from government action and raising interest rates doesn't correct that in any way. In only dampens demand which is not particularly good for the economy. The FED should advise government to stop spending money it doesn't have, not take it out on the public.

I agree that having near zero interest rates for more than a decade is not healthy but raising them as fast as they did was obviously not the solution. Please federal government, leave the economy alone. Stop hurting it and stop trying fix what your profligate spending caused.

If a company is mismanaged then let it die. It is as it should be. It is the natural order of the capitalist system.

 

I didn't say he was. He, like Trump, was mainly the victim of Democrats that came before him and those in power in Congress during his administration.

 

And, for that reason, rational people discuss facts first and people second. You did it the other way around. Which says a lot (not good) about you. I mean, I could point out the fact that Tucker Carlson, to put an example, has been basically legally adjudicated an official "liar" by trade. This is according to his own employer and according to a court in which he won a case based on that premise. But it would be dumb of me if I were to bring this out in a discussion if ever he were proven to be right.

 

Nope had nothing to do with it. It was all about the moron who later became a mass murder under the flu developed under the Obama-Biden-Fauci gain-of-function project launched in 2014.

Financial derivatives may have prevented the SVB failure, but the geniuses didn't place the first finance expert on the board of SVB until September 2022 when it was too late.

 

Of course they paid taxes to the Federal govt and Florida. Florida has about 2000 such districts which were created to attract business to the State, but now the government is using those agreements as a weapon against them much like they use liquor licenses get businesses to dance to their agenda (they are yanking liquor licenses from corporations who do not support the Governors agenda). Its a good example of how an authoritarian government can use such things to bully people and businesses into submitting to the will of the government. It is the same exact argument people use to argue against gun registration / licensing. They fear such license could one day be used by an authoritarian government to bully gun owners. Well, its happening right here in Florida.

 

I don't. I find that they hired incompetent folks who check DEI boxes. I suspect that their incompetence isn't related to the box they check.

 

The astonishing willingness of the rubes to swallow the latest, laughable canard circulating around right wing media even amazes someone as cynical as me.

 

The economy, mostly private, responds to demand in the context of the operating environment set by government and our society. The latter two are our collective responsibility.

There are a number of things we can do to help the economy in addition to having a healthy regulatory environment and competitive taxation. Government can fix K-12 education. Vouchers are something to consider. We need to maintain and improve infrastructure.

Then there are crooks we're not regulating. Credit Suisse...



Credit Suisse are a contemporary example of why we can't let crooks run amok.

High interest rates don't fix the problem of created by borrowing money instead of raising taxes to cover expenses.

We're spending money on programs to replace workers being able to earn a decent living. Consider...



In the past four decades, employee wages and salaries have gone up 7.7% while GDP per person, not even just per worker, has gone up close too 100%. A lot of jobs pay less today that they did in the 1970s.



We're on the wrong track if we so beat down people who earn their living by selling their labor that we end up with government programs to support them instead of them being able to support themselves.

That's okay as long as we're not allowing crooks to use businesses to loot from investors, customers and suppliers.

 

You're assuming they didn't know what they were doing.

 

Government needs to stop profligate spending and it needs to stop trying to fix the economy it harms. PERIOD. Social spending should be illegal at the federal level. PERIOD.