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Official Trump Swamp Thread: Still Corrupt as Fuck

WakeForestRanger said:
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This whole article is very swampy.

The family’s wealth has also benefited Mr. McConnell personally. In 2008, Ms. Chao’s father gave the couple a gift valued between $5 million and $25 million, according to federal disclosures. Mr. McConnell, never a wealthy man, vaulted up the moneyed rankings in the Senate; as of 2018 he was the 10th wealthiest senator, according to Roll Call, the Capitol Hill newspaper. David Popp, a spokesman for Mr. McConnell, said the gift from Mr. Chao was in honor of Elaine Chao’s mother.
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Pretty sure that Trump is trying to tell them that Mexico will pay for it. Worked before.
 
WakeForestRanger said:
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There are plenty of economists that believe in the gold standard. I don’t know enough to have an opinion one way or another, but there are certainly rational arguments to be made regarding the dangers of the federal reserve.
 
For example, the financial crisis was caused in large part cause the fed dropped rates after the dot com bubble, and that lead to massive real estate bubble which then threatened to take out all the banks. I don't know how you fix the problem of dropping rates too low by dropping them even lower for 5 times as long. Now we have a bubble in everything. Real estate, stocks, bonds, magic the gathering cards, every asset class you can think of is in a bubble right now, and precedent is set that the taxpayer will fund any future bank losses. Whether the fed intervening in the way it did was a positive in the long term surely remains to be seen. For the short term it seems to have been a band-aid.......
 
Libertarian quacks might support the gold standard, but that's about it.
 
 
How are we not impeaching his ass for all this? Get it all out there and get Republicans on record supporting it.
 
Oh great we’re paying for Eric’s bar tab too.

 
palmab03 said:
For example, the financial crisis was caused in large part cause the fed dropped rates after the dot com bubble, and that lead to massive real estate bubble which then threatened to take out all the banks. I don't know how you fix the problem of dropping rates too low by dropping them even lower for 5 times as long. Now we have a bubble in everything. Real estate, stocks, bonds, magic the gathering cards, every asset class you can think of is in a bubble right now, and precedent is set that the taxpayer will fund any future bank losses. Whether the fed intervening in the way it did was a positive in the long term surely remains to be seen. For the short term it seems to have been a band-aid.......
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Although this ignores the ENTIRE practice of banks issuing loans for homes to anyone who could breathe (who later could not afford the homes) and then the credit default swaps, but yeah, just blame low interest rates.
 
MichDeac25 said:
Although this ignores the ENTIRE practice of banks issuing loans for homes to anyone who could breathe (who later could not afford the homes) and then the credit default swaps, but yeah, just blame low interest rates.
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The GSE's (Fannie and Freddie) were only focused on growth and wanted everyone to own a home so all risk management went out the window.

Without Fannie and Freddie, the subprime originators and mortgage brokers would have had no place else to stow their shitty mortgages.

Plus, it was commonly believed (pre-crisis) that home prices would never decline simultaneously on a nationwide basis.
 
Colonel Angus said:
The GSE's (Fannie and Freddie) were only focused on growth and wanted everyone to own a home so all risk management went out the window.

Without Fannie and Freddie, the subprime originators and mortgage brokers would have had no place else to stow their shitty mortgages.

Plus, it was commonly believed (pre-crisis) that home prices would never decline simultaneously on a nationwide basis.
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What did Fannie and Freddie have to do with the Fed's interest rate policy that Palma claimed caused the Financial melt down?

All these explanations of the melt down conveniently leave out unchecked greed from wall street douche bags. Funny to see conservatives abandon the concept of personal responsibility when it come to filthy rich wall street types.
 
birdman said:
What did Fannie and Freddie have to do with the Fed's interest rate policy that Palma claimed caused the Financial melt down?

All these explanations of the melt down conveniently leave out unchecked greed from wall street douche bags. Funny to see conservatives abandon the concept of personal responsibility when it come to filthy rich wall street types.
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Except MichDeac just mentioned it.
 
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