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DNC Live Commentary

Considering the DNC thread has turned into a bashfest against Republicans, any mystery that may have existed regarding the leaning of this board has been definitively solved.
 
PhDeac said:
This thread is calling for the debate scene from Head of State. It's worth it to listen to the , but here's the relevant clip.

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"How do you make drug policy if you've never smoked the chronic?" Couldn't agree more.

I'd pay to hear that question at a debate. I don't think that being an amateur is a bad thing; unfortunately I think our political system disqualifies the most intelligent and creative. The best minds are in Greenwich, Palo Alto and Cambridge.
 
Caturday said:
Lol, yea the Gramm-Leach-Bliley act in '99 under the CRA had nothing to do with the housing collapse. Liar loans or NINJA were incentivized in '99. This is basic stuff dude.
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23 of the top 25 subprime lenders didn't fall under the purview of the CRA at the height of the housing bubble.
 
Caturday said:
"How do you make drug policy if you've never smoked the chronic?" Couldn't agree more.

I'd pay to hear that question at a debate. I don't think that being an amateur is a bad thing; unfortunately I think our political system disqualifies the most intelligent and creative. The best minds are in Greenwich, Palo Alto and Cambridge.
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And 1000 other places in the country. I completely agree with you about the system though. The system attracts people that can raise money and tell people what they want to hear.
 
KillSwofford said:
Considering the DNC thread has turned into a bashfest against Republicans, any mystery that may have existed regarding the leaning of this board has been definitively solved.
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All small southern white private schools are filled with liberals who post on message boards.
 
Caturday said:
"How do you make drug policy if you've never smoked the chronic?" Couldn't agree more.

I'd pay to hear that question at a debate. I don't think that being an amateur is a bad thing; unfortunately I think our political system disqualifies the most intelligent and creative. The best minds are in Greenwich, Palo Alto and Cambridge.
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Romney started out at Stanford and Romney, Barack, and Michelle went to Harvard.

The funny thing about Head of State is that it doesn't seem nearly as unrealistic as it did back in 2003.
 
ONW said:
23 of the top 25 subprime lenders didn't fall under the purview of the CRA at the height of the housing bubble.
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But they owned MBS and other derivatives leaving them exposed. The markets then overreacted to any subprime exposure. You completely missed the point.
 
Caturday said:
But they owned MBS and other derivatives leaving them exposed. The markets then overreacted to any subprime exposure. You completely missed the point.
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No I didn't because these lenders were not being held to the CRA standards for lending that you are claiming caused the housing crisis.
 
PhDeac said:
Romney started out at Stanford and Romney, Barack, and Michelle went to Harvard.

The funny thing about Head of State is that it doesn't seem nearly as unrealistic as it did back in 2003.
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They were in law school at Harvard, my sister is going to Harvard med and can't navigate the subway system. MIT and the VC firms that have cropped up there are producing serious talent but can't get elected because they're rich/have baggage. The most qualified people to run this country reside on the UES, Stamford, Greenwich, Cambridge, etc.
 
No doubt people overreacted. No one was certain how much exposure any particular ARS had to subprime loans. So the presumption quickly became that the every ARS was hugely tainted with exposure. Never mind the fact there were not real markets for the securities to begin with. The banks were propping up so many of the auctions even in "good" times that when they decided to stop that practice the entire market just froze. It was ugly.
 
ONW said:
No I didn't because these lenders were not being held to the CRA standards for lending that you are claiming caused the housing crisis.
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Policy changes incentives. That's Econ150. Explain why subprime lending increased significantly after '99? Or look up the 25 people responsible for the financial crisis. I was on a derivatives desk at the time; our portfolio was $680B and our subprime exposure was $250M. Our stock lost 75%. That's how toxic the derivatives became.
 
Caturday said:
Policy changes incentives. That's Econ150. Explain why subprime lending increased significantly after '99? Or look up the 25 people responsible for the financial crisis. I was on a derivatives desk at the time; our portfolio was $680B and our subprime exposure was $250M. Our stock lost 75%. That's how toxic the derivatives became.
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The company I worked for held well over 100 million of ARS. As soon as those auctions started to freeze you could not have found anyone willing to buy them for even 30 cents on the dollar. It got better, but it took a long time.
 
Caturday said:
Policy changes incentives. That's Econ150. Explain why subprime lending increased significantly after '99? Or look up the 25 people responsible for the financial crisis. I was on a derivatives desk at the time; our portfolio was $680B and our subprime exposure was $250M. Our stock lost 75%. That's how toxic the derivatives became.
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I understand that people overreacted, but the CRA wasn't the reason that led to the problem. The rise is subprime lending increased just as much starting in 1995 and actually took a downturn in 2000 before rising again.
 
The CFMA on the other hand...
 
Caturday said:
They were in law school at Harvard, my sister is going to Harvard med and can't navigate the subway system. MIT and the VC firms that have cropped up there are producing serious talent but can't get elected because they're rich/have baggage. The most qualified people to run this country reside on the UES, Stamford, Greenwich, Cambridge, etc.
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Don't you feel this is a bit elitist?
 
RJKarl said:
Would someone PLEASE be Swofford's friend? He's is creepily obsessed with me.

Maybe get him laid.
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Come on - it was a funny response to your somewhat out-of-character butchering of the related post.
 
RJKarl said:
Anyone who thinks the Republican House would have raised over $1T in revenues to help Obama make that deal is delusional.
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For anyone that has the patience, here's an excellent read --

http://www.nytimes.com/2012/04/01/magazine/obama-vs-boehner-who-killed-the-debt-deal.html?pagewanted=all

ETA: Teaser -- Biden killed the debt deal. Okay. Not really. But Cantor got involved earlier than planned when JoeB 'let it slip' that Boehner and Obama were meeting off the record. Maybe Joe's more clever than he lets on...
 
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