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In reply to the discussion: Geithner Admitted Administration Sacrificed Homeowners to ''Foam the Runway'' for Banks [View all]JDPriestly
(57,936 posts)62. K&R especially for this post.
In California, we have term limits. It makes this problem worse. Instead of serving the people's interests in order to insure their re-election, our politicians are focused on trying to find a job once they are termed out.
The first couple of years in office, they are struggling to learn the ropes and are, for that reason, relatively ineffective. Then they have a few good, productive years, and in the last few final years they focus on trying to figure out how they will make a living and educate their kids when their term is over. So that is even worse than D.C.
Jerry Brown is an exception because he is already at retirement age and does not seem to be worried that much about where he goes from the governor's office.
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Geithner Admitted Administration Sacrificed Homeowners to ''Foam the Runway'' for Banks [View all]
Octafish
Aug 2013
OP
"Keep this in mind while Obama prattles on about his undying support for the middle class."
bahrbearian
Aug 2013
#1
Neil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've Ever Heard
Octafish
Aug 2013
#26
Just read that book. Really appalling. Geithner was strictly on the banks' side.
eppur_se_muova
Aug 2013
#95
Let me guess your point. Because it's hearsay it couldnt possibly have happened. In other words,
rhett o rick
Aug 2013
#6
10 million families yanked out of their homes in foreclosures; $20 billion 2nd qtr 2013 profit
jtuck004
Aug 2013
#23
Yes I'm serious. I know many on this site have no appreciation for banks but it is the lending
dkf
Aug 2013
#10
You make the assumption that our banking system is decent, and THAT'S a stretch...
LaydeeBug
Aug 2013
#11
If you had to choose one you'd choose a few million homeowners and crash the banking system?
dkf
Aug 2013
#14
I would save the millions of homeowners and let the irresponsible private banks fail
fasttense
Aug 2013
#18
To suggest the banking system would fall because of the homeowners is utter BULLSHIT...
LaydeeBug
Aug 2013
#35
I have no idea where you get that 'it's ok to sacrifice millions of homeowners'
LaydeeBug
Aug 2013
#48
That's ridiculous. Whatever happened to those homeowners was not the pivotal point.
dkf
Aug 2013
#57
You are the one turning a blind eye, dear...they ain't lending, and you damn well know it. nt
LaydeeBug
Aug 2013
#49
But lending allows the investment that allows the use of labor to create excess supply.
dkf
Aug 2013
#20
Yeah but when they stop lending and start hoarding the whole thing grinds to a halt
tularetom
Aug 2013
#36
Since you brought it up, the Bible has a fair bit to say about money lenders
Electric Monk
Aug 2013
#37
That is what you think the country was founded on? Made the progress to become
matthews
Aug 2013
#39
FDR answered that in roughly 1933. Homeowners more important than thieving bankers.
jtuck004
Aug 2013
#25
Thieving, lying bankers and the politicians they buy are not necessary, no. n/t
jtuck004
Aug 2013
#29
Conflating good business with thievery. The Master's money can buy many tongues. n/t
jtuck004
Aug 2013
#34
When thieves do their work, many good things leave as well. I wonder why you want to piss
jtuck004
Aug 2013
#67
The change in the banking system occurred with repeal of Glass-Steagall which legalized thievery.
AdHocSolver
Aug 2013
#71
What I described was why our current banking system failed the U.S. economy.
AdHocSolver
Aug 2013
#82
Considering they used the bailouts for bonuses for themselves and lavish parties?
Spitfire of ATJ
Aug 2013
#73
I just listened to that video and he never says "designed to sacrifice homeowners."
pnwmom
Aug 2013
#32
But the program was designed to sacrifice homeowners, because the banks designed it
TiberiusB
Aug 2013
#85
Whatever the banks did, the administration didn't design the program to sacrifice
pnwmom
Aug 2013
#86
Citizens Used As 747 Crash Pads Such That Oligarch Bankers Might Have A Soft Landing - Despicable
cantbeserious
Aug 2013
#44
Admitted! Fuck u Tim G. Fuck u. We don't need no admission. It's as plain as fuckung day.
geckosfeet
Aug 2013
#63
The got $7 trillion in cheap loans and the fuckers still didn't help out the homeowners.
GoneFishin
Aug 2013
#66