Comments on: Speaker Pelosi Should Resign http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm Thoughts and Asides by Peculiar People Thu, 11 Mar 2010 18:12:06 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: nasamomdele http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92350 nasamomdele Wed, 01 Oct 2008 05:17:47 +0000 http://www.mormonmentality.org/?p=974#comment-92350 Clark: "I think his inability to bring Republicans on board is evidence that many Republicans really don’t see McCain as a real leader." Or that they wanted re-election. 2004 taught many Reps. about when to go with the party and when to watch your butt. Congress just lived up to its approval rating is all. It's not a reflection of McCain, at all. It's a reflection of partisan congress. Pelosi leads Congress and Pelosi killed the bill and she'll be going down in flames soon enough. Clark: “I think his inability to bring Republicans on board is evidence that many Republicans really don’t see McCain as a real leader.”

Or that they wanted re-election. 2004 taught many Reps. about when to go with the party and when to watch your butt.

Congress just lived up to its approval rating is all. It’s not a reflection of McCain, at all. It’s a reflection of partisan congress. Pelosi leads Congress and Pelosi killed the bill and she’ll be going down in flames soon enough.

]]> By: Clark http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92347 Clark Wed, 01 Oct 2008 03:22:12 +0000 http://www.mormonmentality.org/?p=974#comment-92347 It seems that there is more than enough blame to go around. Further some stupidly put non-pragmatic ideology ahead of thinking through consequences. I agree in minimal regulation. However if something is going to be de-regulated then you better damn well make sure that other policies are synced with that. They weren't which is why the derivatives were a mess. Likewise if you are going to push risky loans to get more homes for the poor then you better make sure you have enough regulation. Instead we ended up with a "compromise" which was the worst of both. With regard to leadership, I think everyone thinks Bush is a lost cost. Even Republicans. Blaming Republicans for not supporting Bush is ridiculous unless you think Pelosi is as bad as Bush. (For the record I do - but thankfully she has less power) Were I a Democrat though I'd be seriously pissed. Pelosi hasn't done hardly any of the things she promised. With regards to McCain if I hadn't already been pushed over the line with regards to him this last week sure would have done it. And yes, I think his inability to bring Republicans on board is evidence that many Republicans really don't see McCain as a real leader. What's more interesting is the lack of leadership over Democrats that Obama showed. (Which I've not seen too many comment on) It seems that there is more than enough blame to go around. Further some stupidly put non-pragmatic ideology ahead of thinking through consequences. I agree in minimal regulation. However if something is going to be de-regulated then you better damn well make sure that other policies are synced with that. They weren’t which is why the derivatives were a mess. Likewise if you are going to push risky loans to get more homes for the poor then you better make sure you have enough regulation. Instead we ended up with a “compromise” which was the worst of both.

With regard to leadership, I think everyone thinks Bush is a lost cost. Even Republicans. Blaming Republicans for not supporting Bush is ridiculous unless you think Pelosi is as bad as Bush. (For the record I do – but thankfully she has less power) Were I a Democrat though I’d be seriously pissed. Pelosi hasn’t done hardly any of the things she promised.

With regards to McCain if I hadn’t already been pushed over the line with regards to him this last week sure would have done it. And yes, I think his inability to bring Republicans on board is evidence that many Republicans really don’t see McCain as a real leader. What’s more interesting is the lack of leadership over Democrats that Obama showed. (Which I’ve not seen too many comment on)

]]> By: woodboy http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92320 woodboy Tue, 30 Sep 2008 15:54:51 +0000 http://www.mormonmentality.org/?p=974#comment-92320 The CFMA didn't really "remove" regulation of CDSs. It did codify the exclusion of bilateral swap agreements from CFTC oversight, but they weren't ever really being regulated before that legislation by the CFTC and it was not exactly clear whether they had the authority to do so (probably yes). It did remove a certain legal risk from swap contracts, and they did explode in popularity sometime after that, but I'm not so sure you could point conclusively to one causing the other. People will always find a way to take on more risk than is prudent, especially if they know they'll be bailed out if they fail. The CFMA didn’t really “remove” regulation of CDSs. It did codify the exclusion of bilateral swap agreements from CFTC oversight, but they weren’t ever really being regulated before that legislation by the CFTC and it was not exactly clear whether they had the authority to do so (probably yes). It did remove a certain legal risk from swap contracts, and they did explode in popularity sometime after that, but I’m not so sure you could point conclusively to one causing the other. People will always find a way to take on more risk than is prudent, especially if they know they’ll be bailed out if they fail.

]]> By: Tim J. http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92319 Tim J. Tue, 30 Sep 2008 15:43:31 +0000 http://www.mormonmentality.org/?p=974#comment-92319 Geoff, Point taken. Geoff,

Point taken.

]]> By: nasamomdele http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92317 nasamomdele Tue, 30 Sep 2008 15:30:24 +0000 http://www.mormonmentality.org/?p=974#comment-92317 #90, That's why AIG failed #90,

That’s why AIG failed

]]> By: Geoff J http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92316 Geoff J Tue, 30 Sep 2008 15:18:21 +0000 http://www.mormonmentality.org/?p=974#comment-92316 Wallison is full of crap Tim. He conveniently forgot to mention the Commodity Futures Modernization Act (signed in December 2000 and sponsored) in the article. That is the legislation that removed all regulations from the fake insurance known as "credit default swaps". It was the rampant abuse of these credit default swaps that can be pointed to as one of the primary changes that brought us to our current mess. Wallison is full of crap Tim. He conveniently forgot to mention the Commodity Futures Modernization Act (signed in December 2000 and sponsored) in the article. That is the legislation that removed all regulations from the fake insurance known as “credit default swaps”. It was the rampant abuse of these credit default swaps that can be pointed to as one of the primary changes that brought us to our current mess.

]]> By: Tim J. http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92315 Tim J. Tue, 30 Sep 2008 15:03:44 +0000 http://www.mormonmentality.org/?p=974#comment-92315 Deregulation not to blame: http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_wallison&sid=a6M1QA55PB9Y Deregulation not to blame:

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_wallison&sid=a6M1QA55PB9Y

]]> By: woodboy http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92313 woodboy Tue, 30 Sep 2008 14:48:36 +0000 http://www.mormonmentality.org/?p=974#comment-92313 The credit rating agency model is flawed. These people should be paid by those buying the bonds, not those issuing them, otherwise it represents a huge conflict of interest. We've all seen exactly how much a AAA rating is worth... The credit rating agency model is flawed. These people should be paid by those buying the bonds, not those issuing them, otherwise it represents a huge conflict of interest. We’ve all seen exactly how much a AAA rating is worth…

]]> By: Jota G http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92312 Jota G Tue, 30 Sep 2008 14:39:55 +0000 http://www.mormonmentality.org/?p=974#comment-92312 Devyn S. (#45) You asked: And how did the Dems cause this problem? Watch this: http://www.youtube.com/watch?v=H5tZc8oH--o Devyn S. (#45)

You asked:

And how did the Dems cause this problem?

Watch this:

http://www.youtube.com/watch?v=H5tZc8oH–o

]]> By: bbell http://www.mormonmentality.org/2008/09/29/speaker-pelosi-should-resign.htm/comment-page-2#comment-92311 bbell Tue, 30 Sep 2008 14:34:01 +0000 http://www.mormonmentality.org/?p=974#comment-92311 I am a lender and this quote is right on the money. "The problem was that MBSs were priced assuming that 2% of the mortgages were bad and would fail when, it turns out, 4% or 6% or maybe 10% were bad and have or will fail" DKL is also correct when he says that political pressure loosened credit requirements I am a lender and this quote is right on the money.

“The problem was that MBSs were priced assuming that 2% of the mortgages were bad and would fail when, it turns out, 4% or 6% or maybe 10% were bad and have or will fail”

DKL is also correct when he says that political pressure loosened credit requirements

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