Comments on: Florida Firefighters Burned By AIG Fraud?

Massive Lawsuit Claims Deception By Insurance Giant Caused Fire And Police Pension Money To Go Up In Smoke

[hungry1968-15]

And WHO debunked them? YOU? I'll swun....don't think it's been dubunked by anybody sir.

The facts are right there...CLINTON insisted on the de-regulation bill, and CLINTON signed it into law, and it was his appointees that faked their books to look like they were following regulations when they weren't....

You got any FACTS, Hungry?
Posted by IThoughtItWasFunnyAgin at 7:03 AM : Jun 13, 2009





One - the alleged "deregulation bill" was VETO PROOF. Whether Clinton wanted to sign it or not, it was LAW. The REPUBLICANS that drafted the law, sweetened it enough that the democrats all jumped on board.



Two - we've been through the whole CRA thing about 20 times, and the law itself DOES NOT force ANY banks to make loans, that it deems unacceptable. The government does not, nor did it ever have the power to force any bank to do anything it didn't want to do:

FROM THE CRA LAW ITSELF:

http://www.federalreserve.gov/dcca/cra/

"The law also does not require institutions to make high-risk loans that may bring losses to the institution; instead it emphasizes that an institution's CRA activities should be undertaken ******in a safe and sound manner*******."

"The Act requires the appropriate federal financial supervisory agencies to ******encourage****** regulated financial institutions to meet the credit needs of the local communities in which they are chartered, *****consistent with safe and sound operation*****."




(Asterisks added by me for emphasis.)

I see NOTHING that resembles a requirement in the law, to give loans to people that COULD NOT afford to pay them back. Do you?

Please search through it yourself, and post the section that does.





Three: the banks were so happy to get as many mortgages on their books, they paid their brokers on how many mortgages were written, rather than a flat salary. This caused the brokers to make loans to EVERYONE - including dogs and cats - and many of the loan applications were altered and doctored to make it look like the applicants made a LOT MORE money than they really did.



Really, it's all very well documented. There's NO REASON for your continued ignorance.

http://www.cbsnews.com/stories/2008/01/25/60minutes/main3752515.shtml

http://www.cnbc.com/id/28892719

[WayAround]

Well, CBS didn't post the story about the first swine flu vacinne announced ONE DAY AFTER the World Health Organization declared a swine flu pandemic [gee, what a coincidence], and of course, they haven't published anything related to the following story (from Fox News):

Six Flags Amusement Park Company Declares Bankruptcy

[Would you like to bet that the toxic assets go to the shareholders and the good assets go to a foreign knight in white armor?]

[hungry1968-15]

Well, considering it was Clinton that went to Congress and INSISTED on the de-regulation bill to cover his arse for letting CitiBank and Travelers merge when it was against the law.....your facts don't quite match up to reality...especially considering that it was CLINTON that signed the bill into law and left the little skrewbie piece in it called the CRA that let people qualify for home loans on the qualification that they were breathing!

What happened was that the republicans trusted the democrats to install people in their appointed offices to make sure that they weren't cratering the market...but instead Clinton appointed Frank Raines and the rest is history...
Posted by IThoughtItWasFunnyAgin at 6:52 AM : Jun 13, 2009






All of your alleged myths, have been debunked time and time and time again.

Your refusal to accept the facts, and your reliance on right wing propaganda, is YOUR problem, and no one else's.

[zonkzilla]

Maybe they can get their money back from AIG's 20 million dollar a year sponsorship of the foreign soccer team that contracted to pay a player the highest amount in history and the soccer team is owned by a US Texas billionaire?
AIG-Texas-BIllionaire-Highest paid athelete-Bailout money, if you connect the dots it is too much of a coincidence I would think.

[antoniof123]

For all you idiots and morons out there. Warren Buffet has been saying this about the CDS's from when we the American people were tricked into beliveing that Senator (America is a nation of whinners) Graham wrote a law that we Americans though was great.

Just goes to show you how we Americans were tricked. Don't try to put the blame on someone like Clinton or any one else the blame is ours we though it was the best thing scense slice bread.

Looks like we were wrong for trusting big business because like it or not they were the ones that helped to write thes laws. Remember this when you hold all things constant it will fall to the lowest common denominator that means the crookedest one will win.

[hungry1968-15]

Tanberet, you give whole new perspective and meaning to the term ignorant.

The problems of the general economy stem from the CLINTON administration's forcing the banks to make substandard loans to low income homebuyers who couldn't afford it. These inferior loans were then repackaged and moved throughout the financial community in order to make quick profits.

Posted by daveevad1 at 5:53 AM : Jun 13, 2009





You're pretty quick to call someone else ignorant, while putting your own on display for all to see.

NO ONE forced any banks to give loans to anyone - poor, rich, or somewhere in between.

Maybe you should turn off the Fox News and try posting again, with actual facts the next time around.

[daveevad1]

Tanberet, you give whole new perspective and meaning to the term ignorant.

The problems of the general economy stem from the CLINTON administration's forcing the banks to make substandard loans to low income homebuyers who couldn't afford it. These inferior loans were then repackaged and moved throughout the financial community in order to make quick profits. The collapse of this house of cards was not the primary cause of GM's problem.

GM is on the ropes because of a long history of producing substandard product, and forcing the American public to accept the "bigger is better" philosophy by refusing to build reliable and practical passenger car product for too many years, and encouraging customers to buy Suburbans for single passenger commuting. The Europeans and Japanese have a more realistic approach and offer high quality small car product (who ever looks down their nose at a BMW 325?)

[formrusmcsgt]

Sources say auditors at PwC have told federal prosecutors that they were repeatedly denied access to key information and employees by senior AIG executives.
----
Then whoever made the decision to leave the funds with AIG was an idiot.

[hungry1968-15]

They're trying to burn the people that were on the plane that landed in the Hudson River too.

http://www.nytimes.com/2009/06/12/business/12aig.html




Obama doesn't need to overhaul "health" insurance companies. ALL forms of insurance need to be overhauled - health, homeowners, auto, etc, etc - so that they are FORCED to pay on the claims, that they accepted the premiums for, and promised to cover.

[johninpennsyl]

When you let thieves hold your money-its only a matter of time till its gone.
Look at Social Security.