View Full Version : 25 People To Blame For The Financial Crisis
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.html?xid=newsletter-weekly
Richard's $.02 :munchin
LOL I so love that picture of Angelo Mozlio... it is very fitting.
Give 'em all Orange Jumpsuits........
They are all to blame
The list should also include every greedy CEO out there as well....
I think they need one more name on the list:
Barney Frank,, He put his live-in boy-toy Franklin Raines in charge of Fannie Mae and the two of them, with WIlliam Jefferson's help pushed the sub-prime to the top of the must-do list..
Here is the tally page, if you don't want to read all the details..
http://www.time.com/time/specials/packages/article/0,28804,1877351_1878509_1878508,00.html
Barny Frank is the one that faught John Mc Cain tooth-n-nail to make sure no one did an audit of the Fannies Mae&Mac sub-prime loans..
My $00.0002
frostfire
02-23-2009, 12:04
I thought it's rather fair and balanced. The American consumer is also on the list: "In the third quarter of 2008, Americans began saving more and spending less. Hurrah! That only took 40 years to happen." Touche!
My perspective and understanding may be rather limited or skewed....so what is your take, nmap? :munchin
In the link about top 10 meltdowns, the following is spot on:
"After 30 years of incompetence, the American auto companies and their obstreperous union finally closed the quality gap with foreign competitors and narrowed the manufacturing cost differential to within inches. Nice try. The credit market freeze ensured that average Joes who love Fords and Chevys couldn't possibly get the loans they need to buy them. So sales were off more than 30% in October and November, pushing GM and Chrysler close to insolvency. When the auto bosses pleaded their case to Congress for $34 billion in loans to tide them over, they got treated as if they manufacture smallpox."
Then, there's this:
$200 burger?!?!? :eek:
http://www.time.com/time/photogallery/0,29307,1825241_1739915,00.html
Defender968
02-23-2009, 14:09
I think they need one more name on the list:
Barney Frank,, He put his live-in boy-toy Franklin Raines in charge of Fannie Mae and the two of them, with WIlliam Jefferson's help pushed the sub-prime to the top of the must-do list..
Here is the tally page, if you don't want to read all the details..
http://www.time.com/time/specials/packages/article/0,28804,1877351_1878509_1878508,00.html
Barny Frank is the one that faught John Mc Cain tooth-n-nail to make sure no one did an audit of the Fannies Mae&Mac sub-prime loans..
My $00.0002
Thanks for the tally page, I went all the way through it just waiting for Barney Frank, what a disappointment that was, he definitely should hold more blame than the guy who came up with mortgage backed securities in the 70's. Fundamentally I don't think MBS are a bad thing, they're only risky when idiots are lending unemployed morons 300K to buy a house! :eek:
ZooKeeper
02-24-2009, 19:35
"The American Consumer" is ranked 16th on the list by the public who voted.
There is no more (or very little) self responsibility or self discipline in this society. All of these people played a role & are responsible, but at the end of the day, we are all personally responsible for our own actions, including financial decisions. It's tough to look in the mirror.
Roguish Lawyer
02-25-2009, 13:01
I am really tired of all of this blaming and whining.
The Reaper
02-25-2009, 13:09
I pay my bills, and I take care of my family. I live within my means, and expect no help.
F#$% the rest of them, and their enablers, to include Congress and the media.
It isn't my fault, or my responsibility.
Cowboy up and live with the consequences. Maybe we need to bring back Debtor's Prisons for people who do not understand fiscal responsibility.
TR
Blame President Clinton, Yourself, and the local banker.
Leave all of us conscious people alone.
Blame President Clinton, Yourself, and the local banker.
Leave all of us conscious people alone.
Um, No.:rolleyes:
Holly:munchin
Um, No.:rolleyes:
Holly:munchin
Fannie Mae was pushed by the Clinton administration to give out mortgages to low income families who could not afford them, the deregulation and lack of control caused our current situation. Congress also allowed Fannie Mae and Freddie Mac to spend more money on mortgages than allowed. I mean they even repealed the Glass-Staegall Act in 1999. Come on.
I pay my bills, and I take care of my family. I live within my means, and expect no help.
F#$% the rest of them, and their enablers, to include Congress and the media.
It isn't my fault, or my responsibility.
Cowboy up and live with the consequences. Maybe we need to bring back Debtor's Prisons for people who do not understand fiscal responsibility.
TR
Unfortunately I think most of are gonna have to live with the consequences of the irresponsibility of others. I do like the idea of debtor's prison. Have them pave the roads and dig the ditches at a set hourly wage until their debt is paid in full.
Fannie Mae was pushed by the Clinton administration to give out mortgages to low income families who could not afford them, the deregulation and lack of control caused our current situation. Congress also allowed Fannie Mae and Freddie Mac to spend more money on mortgages than allowed. I mean they even repealed the Glass-Staegall Act in 1999. Come on.
Blame...Yourself, and the local banker.
Leave all of us conscious people alone.
No, you said this.:rolleyes:
Am feeling that the TS definition of Troll is applicable in this situation. And, since this is a site owned and operated by QP's, they will see to Your education, as I am just a guest.
Good luck!
Holly
No, you said this.:rolleyes:
Am feeling that the TS definition of Troll is applicable in this situation. And, since this is a site owned and operated by QP's, they will see to Your education, as I am just a guest.
Good luck!
Holly
I am also a guest. And you are avoiding my reply?
No disrespect to anyone, just trying to have an active debate.
-J
I am also a guest. And you are avoiding my reply?
No disrespect to anyone, just trying to have an active debate.
-J
Really? An active debate on what? Seems more like the dropping of opinions to agrivate...but I am just a guest here sir.
As stated, good luck!
Holly
Really? An active debate on what? Seems more like the dropping of opinions to agrivate...but I am just a guest here sir.
As stated, good luck!
Holly
Why we are in this current recession. The information I published is fact and some opinion. If you have ever been in a debate it is partly fact partly opinion, its all publicly available information.
http://wordnetweb.princeton.edu/perl/webwn?s=debate
-J
Why we are in this current recession. The information I published is fact and some opinion. If you have ever been in a debate it is partly fact partly opinion, its all publicly available information.
http://wordnetweb.princeton.edu/perl/webwn?s=debate
-J
Oh yes sir. Am watching your current "debate" with living warrior-heroes, and where is that getting you? FYI...The Real Men on PS.com that have the title of "Quiet Professional" under their name are HEROES, every last one of 'em.
As we civilians have done nothing even close to Their acomplishments, I can only think we should be reverent of the time They take to share information with us lowly civvies.
But that's just my .02.
Holly
Oh yes sir. Am watching your current "debate" with living warrior-heroes, and where is that getting you? FYI...The Real Men on PS.com that have the title of "Quiet Professional" under their name are HEROES, every last one of 'em.
As we civilians have done nothing even close to Their acomplishments, I can only think we should be reverent of the time They take to share information with us lowly civvies.
But that's just my .02.
Holly
Of course I support my troops, as I plan to be one in a few months. I respect everyone equally. And I would never call myself a 'lowly civvie' because someone told me I was.
I will no longer carry on a conversation with someone who belittles themselves.
-J
Of course I support my troops, as I plan to be one in a few months. I respect everyone equally. And I would never call myself a 'lowly civvie' because someone told me I was.
I will no longer carry on a conversation with someone who belittles themselves.
-J
Young man, I am not belittleing myself, am stating fact. If you truly aspire to serve Our Great Nation, Thank You.
But please try and LEARN from the QP's advice/wisdom/posts here. It will serve you well in meeting your final objective!
Holly