Comments on: EU Leans On U.S. To Fix Financial Crisis

Urges American Lawmakers To Take "Responsibility" As Uncertainty Plagues Global Markets

[wwudiver]

A failed executive from Lehman brothers cried as he asked a reporter if, "He thought this was funny." My answer would have been, "yes." Central banks are a cartel, a false idea of government with fiat money systems. Let their house of cards tumble and watch a more equitable worldwide system of trade emerge. The demand for goods and services remain but the world is tired of gross worldwide manipulations for the benefit of a few. Americans have never responded well to whiney Europeans... keep whining, I do think it is funny.

[docpeter1953]

I''''m a bit confused by these comments about mortgage lenders "forced" by de-regulation to give out loans to people who had no way off repaying the full amount. Did these new laws simply make it easier to get a mortgage or were the lenders legally forced to give out mortgages against their will?

I''''m only asking cos'''' back in the UK it was simple greed on the banck''''s part.

Posted by zwaggsy at 10:39 AM : Sep 30, 2008
_______________

Actually it was banking speculators who offered subprime loans, sometimes for the total sale of the home with no down payment from the buyer. they figured that when the ARM kicked in.

Many times the buyer didn''t even have to show he/she even had a job to pay for the loan.

Let us not also forget the realators, who also benefitted. In Texas they get 6% of the selling price as their commission. I have wondered how many houses were sold quickly via subprime loas so they could make their commission.

[zwaggsy]

To Docpeter1953.

Virtually all the financial aid that the US gave Britain came in the form off a very large loan with considerable interest that we only just finished paying back some months ago!

[zwaggsy]

I''m a bit confused by these comments about mortgage lenders "forced" by de-regulation to give out loans to people who had no way off repaying the full amount. Did these new laws simply make it easier to get a mortgage or were the lenders legally forced to give out mortgages against their will?

I''m only asking cos'' back in the UK it was simple greed on the banck''s part.

[docpeter1953]

Well, if the EU is so concerned then maybe they should just go ahead and sell their American stock investments. I am sure the Euro is strong enough to stand on its own.

Maybe the EU, which we rebuilt after WWII and were never really offered any return compensation; Japan which has sold us everything under the sun to boost their economy; and Iraq, which we are currently supporting, can come to our aide this time instead of letting us faulter and flail around.

Pitch in EU, get your hands dirty with Wall Street and help. Anyone can be a "straw boss", leaning on a shovel and talking, while workers dig the trench.

[robert2237]

hungry1968-1- I don''t think a couple of bills to help people in other countries tells me that Obama is the right person for the president. In fact it scares me to death when someone is more worried about people in other countries than they are about the American people who he is suppose to govern. Oh I forgot call me if you need me is his plan for the US goverment. Yeah real good leadership.

[leftyintexas]

BYE BYE republiCONS!!!

[pirmin3]

"show statesmanship" ????

That self serving, greedy mafia in Washington that we laughingly call a government has no idea what statesmanship even means.

[tbuckl]

Thomas Jefferson was so right when he said the following, I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by all future generations, under the name of funding, is but swindling the state of being yet to come on a large scale. Now the American banking system and its Barbaric CEOs have taken the American people to the clearers. Thomas Jefferson correctly used the word SWINDLING when writing his thoughts about banks and aristocratic tyrants that would infect our soceity. He knew these aristocratic tyrants would infest our soceity just like they did so many centuries ago. I wish he had been wrong, because I am starting to think something else he said may also be true. "The tree of liberty must from time to time be refreshed with the blood of patriots and tyrants. It is its natural manure."

[misha128-2009]

Where was the Democratic majority? ...

Posted by prof_s

60% of the House Democrats voting for the proposal -- I would say the majority Democrats were well represented. On the other hand 33% of the Republicans voted for a core proposal of a Republican president that was subsequently modified to include the wishes of the House Republican minority.

[misha128-2009]

willymack

When it comes to lack of ecomonic experience. Senator McCain must have phoned in his two years as head of the Commerce Committee. Other than the Keating Five and collaboration woth Phill Gramm to create this crisis he shows he has less economic experience than his VP candidate Sarah Palin does and from what I can tell she has never dealt with a tight budget -- being flush with oil money and earmarks in Alaska.

[prof_s]

The United States had plenty of direct plain-spoken warnings long ago. But as always, our leaders, Democrats and Republicans as well as the greed-driven financial managers, knew better. I off the following:

German Chancellor Angela Merkel sent a clear %u201CI told you so!%u201D to the United States and Britain at the weekend, criticising them in unusually frank terms for resisting measures that might have contained the current financial crisis. she had pushed for steps to boost the transparency of hedge funds during Germany%u2019s presidency of the Group of Eight last year. %u201DWe got things moving, but we didn%u2019t get enough support, especially in the United States and Britain." Germany had made greater transparency a key theme of its rotating presidency of the G8. Berlin had expressed fears that hedge funds could threaten the stability of the financial system through their heavy reliance on borrowing to finance risky trading strategies. But it ran into resistance from the United States and Britain. Where was the Democratic majority? They neglected to fulfill there constitutional obligation to pass laws in the interest of the people - ones that should have required transparency and appropriate regulatory controls over GSEs like Fannie and Freddie. Bush and Pelosi both ignored legion warnings from at home and abroad. http://pumasunleashed.wordpress.com/2008/09/23/merkel-to-us-and-the-uk-i-told-you-so/ also http://www.thelocal.de/14617/20080930/

[misha128-2009]

The econonmy will not go into depression in the next 40 days ...

Posted by willymack4 at 08:42 AM

Are you offering insurance on that to anyone that wants it?

[misha128-2009]

Posted by willymack4 at 08:36 AM

yeah that McCain program copied from Obama dropping a single principle -- that one --

[willymack]

The econonmy will not go into depression in the next 40 days but electing the wrong President will destroy the country. Whether you agree with John McCain or not and I do not always agree with him, he has a long record in congress to review and judge. Barrack Obama has yet to finish one term as senator and has little on the books for you to review or judge. As McCain''s critics scoff at his war record, they say.... yeah? if he was such a good pilot how come he got shot down? True, but at least we know he knew how to fly a plane. We have no idea what Obama knows how to do.... other than tell us that he can solve any problem we have. Judge McCain on his record, not on the record of George Bush or on the non existing record of Barrack Obama.

[willymack]

The econonmy will not go into depression in the next 40 days but electing the wrong President will destroy the country. Whether you agree with John McCain or not and I do not always agree with him, he has a long record in congress to review and judge. Barrack Obama has yet to finish one term as senator and has little on the books for you to review or judge. As McCain''s critics scoff at his war record, they say.... yeah? if he was such a good pilot how come he got shot down? True, but at least we know he knew how to fly a plane. We have no idea what Obama knows how to do.... other than tell us that he can solve any problem we have. Judge McCain on his record, not on the record of George Bush or on the non existing record of Barrack Obama.

[willymack]

The econonmy will not go into depression in the next 40 days but electing the wrong President will destroy the country. Whether you agree with John McCain or not and I do not always agree with him, he has a long record in congress to review and judge. Barrack Obama has yet to finish one term as senator and has little on the books for you to review or judge. As McCain''s critics scoff at his war record, they say.... yeah? if he was such a good pilot how come he got shot down? True, but at least we know he knew how to fly a plane. We have no idea what Obama knows how to do.... other than tell us that he can solve any problem we have. Judge McCain on his record, not on the record of George Bush or on the non existing record of Barrack Obama.

[misha128-2009]

Misha can be my ambassador to Palestine.

Posted by willymack4 at 08:33 AM

Thanks for the offer -- where to report for duty.

Meantime the McCain Campaign now indicates Senator McCain lied that the only post Phil Gramm would be offered is Ambassador to Armenia -- where the Armenians would also probably not be happy. Instead he would be the Secretary of the Treasury dealing with the mess he and Senator McCain created. the foxes have been running the EPA and how many court cases have they lost indicating the misfeasance. malfeasance and non-feasance? More of the same with "Nation of Whiners" Phil Gramm running a 750 billion dollar bailout.

[willymack]

hungry1968-1

No !!!
That is why they never got close to the presidency. What is your excuse on Clinton, Edwards and your up and coming NY State Govenor reformer & potential president
Elliot call girl obsessor SPITZER

[willymack]

Misha,

Did you forget to publish Obama''s credentials.....you are strangely silent as are hungry and others of the same ilk here that keep talking about Bush.....Hellooooo the choice is between McCain and Obama and McCain has a voting record where as Obama has a 5 point program to nowhere.