People Power

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Originally Posted by BDunnell

Bob, are you seriously of the view that people whose opinions don't tally with yours deserve to be killed? Or is this another example of your well-known 'sense of humour'?

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American conservatives don't have a sense of humor. It's all bitterness, anger, name calling and schadenfreude (handy word, by the way).

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Originally Posted by BDunnell

Bob, are you seriously of the view that people whose opinions don't tally with yours deserve to be killed? Or is this another example of your well-known 'sense of humour'?

Even those of us who disagree vehemently with your opinions would never stoop so low as to advocate the death of you and your ilk.

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I guess I have been listening to too many "occupy" broadcasts snd have taken up their mode of thought.

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Originally Posted by BDunnell

Despite all the changes it has itself undergone?

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Every one of those changes moved it further and further from a true free market. Remove most of the impediments and Voila!!! Problem solved.
The only regulation in the financial markets should be protection against Fraud.

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Originally Posted by Gregor-y

American conservatives don't have a sense of humor. It's all bitterness, anger, name calling and schadenfreude (handy word, by the way).

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OH Lordy, Lordy ROFLMAO!
All one has to do is listen to sound clips how persons speaking for the stance of the Democratic Party speak of the Republicans, or their legislature and one will think conservatives are gutless wimps whilst the Democratic talking heads sound like hate filled raving lunatics.
Oh Lordy that one made my day.

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Originally Posted by Bob Riebe

I guess I have been listening to too many "occupy" broadcasts snd have taken up their mode of thought.

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So, no apology for what you wrote, then? You don't think it went a little far, when no-one on here has ever said anything of the sort about you and your fellow free-marketeers?

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Originally Posted by Bob Riebe

OH Lordy, Lordy ROFLMAO!
All one has to do is listen to sound clips how persons speaking for the stance of the Democratic Party speak of the Republicans, or their legislature and one will think conservatives are gutless wimps whilst the Democratic talking heads sound like hate filled raving lunatics.
Oh Lordy that one made my day.

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In what sense was that a response to the point made?

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Originally Posted by Malbec

Sorry but that doesn't tally with my understanding of events.

Correct me if I'm wrong but the whole problem kicked off when BNP announced that it had very serious reservations about the credit rating of CDS's and the rest of the world took note. When it was realised that BNP were indeed correct and that investors who had thought they were buying AAA packages were in fact buying a whole pile of home loans of variable ratings the system collapsed.

One of the problems with the banking sector is that while trades are performed almost instantaneously money isn't transferred until months later after the back office boys get through the paperwork. Financial institutions had no real way of determining what the liability of other organisations were to the CDS collapse. Given the size of the sums involved it was clear that some organisations would not survive, hence banks stopped lending money as they were unsure who owed what to whom and whether they'd still be around in a few months time.

This is why credit stopped flowing almost instantaneously, and those institutions that had increased their investment/asset ratios to stupendous levels to increase leverage and hence profit came to a shuddering halt and collapsed.

The government had nothing to do with the stop in credit, all they could do was react belatedly using central banks to release money in an attempt to get flowing again. Your version of events may be accurate for a later stage but it is not a description of the first days of the crisis.

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What you say here is correct. However, just as the banks were starting to sort everything out, the govenment got wind of things, said "something" must be done, give us a bit to figure it out. So the credit market remained frozen while the government sorted out what "must be done". Then they came back with the cockamamie scheme of forcing the top nine banks to take billions in federal loans even if they didn't need them want them and said no to them. Then things got really interesting because you had banks which were forced to add money to their books they didn't want or need, so they ended up buying up more banks, making them not just too big to fail but too enormous to fail now. That really seemed to work out just swell. And to top it all off, employment went in the tank and hasn't even made an attempt at recovery. Credit is extremely had to get even if you have well established credit. The housing market hasn't recovered, and is still sliding in many areas. And inflation is starting to kick in.

How exactly has government intervention made things better here?

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Originally Posted by BDunnell

In what sense was that a response to the point made?

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Even though his statement is absolute bs, IF-IF it were true, no matter how bad, conservative Rep. may be, liberal Dem. have proven themselves in recorded bytes to be far, far, far worse.

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Originally Posted by BDunnell

So, no apology for what you wrote, then? You don't think it went a little far, when no-one on here has ever said anything of the sort about you and your fellow free-marketeers?

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Nope, I did not even bat an eyelash.

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Originally Posted by Bob Riebe

Even though his statement is absolute bs, IF-IF it were true, no matter how bad, conservative Rep. may be, liberal Dem. have proven themselves in recorded bytes to be far, far, far worse.

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No, they have been proven to be worse in your eyes and those of people like you. This is a very different thing to factual proof.