I Don't Get It I Guess

[Hoss]

Ahh, so that is why we are preparing to do it again.  Perhaps eventually we will get this market manipulation thing right.  Seems to permeate politics these days.

Recite the liberal mantra:

"If at first you don't succeed, try Keynes again."

Can't be any different than the conservative/TP mantra.

"If at first you don't succeed, try Fox again"...

[nathanm]

Ahh, so that is why we are preparing to do it again.  Perhaps eventually we will get this market manipulation thing right.  Seems to permeate politics these days.

Recite the liberal mantra:

"If at first you don't succeed, try Keynes again."

And we can recite your mantra: "If at first you don't succeed, go down on Rand again"

The fact of the matter is that it was the private sector that blew up the mortgage market. You may not like the facts, but that's what they are.

Why is it a point of faith to you that markets are infallible? What regulation changed in 2003 to cause more private sector mortgage originations? What regulation requires anyone to lend to bad credit risks? What regulation even provides the barest of incentives for private securitizers to purchase bad loans?

Conversely, what market forces incent people to lend to bad credit risks. What market forces provide securitizers an incentive to package bad loans?

And even if you believe subprime was the source of our problem, you should be aware that traditional banks didn't originate many subprime loans precisely because the GSE's lending standards didn't allow for the banks to get subprime mortgages off their books that way. Subprime went to private securitizers.

Edited to add: You might consider reading some Adam Smith. His books are available at no charge from Google Books.

[guido911]

Santelli apparently gets it.

[nathanm]

Santelli apparently gets it.

I would be more convinced if his complaint about government merely moving around money weren't equally applicable to the traders whom he is using as his backdrop. Delicious irony..

[we vs us]

Santelli apparently gets it.

Santelli's a moron.   I don't say that about many people, but . . . Santelli's a moron. 

[guido911]

Santelli's a moron.   I don't say that about many people, but . . . Santelli's a moron. 

He's a moron? I don't like Obama, so I guess that makes him a moron.

[Hoss]

He's a moron? I don't like Obama, so I guess that makes him a moron.

What, you hadn't already pre-decided that?  Wow, knock me over with a feather.

[Ed W]

Here's a good summation..NSFW...and my apologies in advance for the language.  If the mods have to remove it, I fully understand.

[we vs us]

Here's a good summation..NSFW...and my apologies in advance for the language.  If the mods have to remove it, I fully understand.

That sure does get the point across, doesn't it?

[guido911]

Here's a good summation..NSFW...and my apologies in advance for the language.  If the mods have to remove it, I fully understand.

I like that. And I'm assuming those hippies at OWS work and pay taxes that went to bailouts.

[dbacks fan]

That sure does get the point across, doesn't it?

That's why banks need to seperate from investment and brokerage firms.

[nathanm]

I like that. And I'm assuming those hippies at OWS work and pay taxes that went to bailouts.

Maybe you're not aware of this, but there are a lot of OWS folks who do in fact have jobs and pay taxes. The tea partyists could be attacked from that same angle, by the way, since there are a lot of retirees in their midst.

[Conan71]

Here's a good summation..NSFW...and my apologies in advance for the language.  If the mods have to remove it, I fully understand.

I don't care who you are that's some fanfuckingtasticshit right there!

Just glad that was a Full Sail I was sipping on and not a Marshall's when I read it.

[guido911]

I don't get why some of these OWS morons are hanging out with children.

http://www.kpax.com/news/occupy-missoula-protester-facing-child-endangerment-charge/#