You are either not logged in or not registered with our community. Click here to register.
May 21, 2018, 08:10:05 AM

Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length

Click here if you are having problems.
Default Wide Screen Beige Lilac Rainbow Black & Blue October Send us your theme!

Wiki Blogs Dicebot

Author Topic: Marcy Kaptur Speech on C-Span Last Night  (Read 771 times)

0 Members and 1 Guest are viewing this topic.

Offline ShrowdedPoetTopic starter

  • Sexual Deviant
  • Dame
  • Enchanter
  • *
  • Join Date: Apr 2008
  • Location: Between the dark places in the world
  • Gender: Female
  • Don't tell the pirate that I'm under his bed. . .
  • My Role Play Preferences
  • View My Rolls
  • Referrals: 2
Marcy Kaptur Speech on C-Span Last Night
« on: October 03, 2008, 09:45:22 AM »
Marcy Kaptur the Democrat Representative for Ohio District 9 gave a speech last night on C-Span about the bail-out and I thought it was absolutely amazing!  This woman made good points with real words and real meanings.  She didn't waist her time and she spoke the truth as she saw it and as I think it is!  I just have to say way to go!  It was the best things I've heard in a long time.  I only wish I could find a copy of that speech to post here.  She talked about the issues which is more than what I can say for most of the Reps.  She didn't waist time with flowery empty words, she stated facts!  Did anybody else hear her speech?

Offline OldSchoolGamer

Re: Marcy Kaptur Speech on C-Span Last Night
« Reply #1 on: October 04, 2008, 01:15:20 AM »
I didn't see the speech, but the bailout is pretty much a sign that America is sliding from the right shoulder onto the right slope of the bell-shaped curve of its historical power.  It's desperation.  What the bailout means is that it's now necessary to inject over a trillion dollars of fiat money into the economy annually--not to achieve a high level of growth or even keep things running reasonably smoothly, but merely to avoid collapse.  We're like the guy who started doing a line of coke now and then to "keep his edge," and ended up having to do two or three lines just to get out of bed every morning, and another line before lunch to keep from falling back asleep at his desk. 

Offline Vekseid

Re: Marcy Kaptur Speech on C-Span Last Night
« Reply #2 on: October 04, 2008, 05:21:04 AM »
Err, no.

Here's what happened.

1: For various reasons, companies started pushing subprime mortgages - basically targeting people who would not otherwise be able to pay for a mortgage by giving them various 'deals' like ARMs.
2: The above was banked on the idea that housing would always appreciate in value. Thus, while a bank might have to issue a foreclosure (or millions of foreclosures), it really wouldn't lose money.
3: The above loans were rolled into what are called credit default swaps. Basically, a number of loans were rolled into various packages, with the idea that, though some borrowers were almost certain to default, certain loans would basically be guaranteed to get repaid (the 'AAA' level).
4: The above default swaps ended up getting run by investment banks, which did not have the same leverage requirements that normal banks did - that is, for every $30 they had, $29 (or more) was funded by various debts. This is a rather risky situation - when more than $2 needs to get paid, they are simply incapable of it.

#1 was evil, #2 was stupid, #4 was simply greed, and #3 was a mix of all three.

But this is not a yearly infusion by any sense. #4 is getting corrected as we speak (and is a huge part of the bailout), while dealing with the other items is obviously on the legislature's mind - #1 has been for some time, even.

This, folks, is why proper regulation is a good thing. Anyone who says otherwise is one of two types of people.

Stupid, or lying.