Look. If i could teleport back to the 90's I'd give a nut to do it.How will they fix it?
Bring back Bill Clinton?
But that ain't happening. Also, Clinton's Democratic Party is a fleeting dream. A wisp of smoke disappearing over the horizon.
There are no easy answers but I do know that the status quo isn't getting it done. Two more years of Mike Johnson sucking up to an insane president who fucks up everything he touches? No thanks.
Nope, it's just going to crash and we'll pretend like we didn't see the iceberg all along.Look. If i could teleport back to the 90's I'd give a nut to do it.How will they fix it?
Bring back Bill Clinton?
But that ain't happening. Also, Clinton's Democratic Party is a fleeting dream. A wisp of smoke disappearing over the horizon.
There are no easy answers but I do know that the status quo isn't getting it done. Two more years of Mike Johnson sucking up to an insane president who fucks up everything he touches? No thanks.
@larsiu I love bill. He’s my guy. Presidents absolute impact the economy and pricing etc but there is also luck. Dot.com. IPOs. Flipping houses. Lots of ancillary stuff pops up that can make loads of people really comfy. I see AI doing the opposite. And me saying that is akin to hickory talking law but…. tether that with really bad politicians and policy and we could have a bumpy road
They'll fix it by printing money. And they can do it. No need to move to Africa. Just own scarce assets and get wealthy. I know a really good one.After hearing all the board geezers whine about dry dick syndrome, I’ll loading up on bitchcoin.
@larsiu I love bill. He’s my guy. Presidents absolute impact the economy and pricing etc but there is also luck. Dot.com. IPOs. Flipping houses. Lots of ancillary stuff pops up that can make loads of people really comfy. I see AI doing the opposite. And me saying that is akin to hickory talking law but…. tether that with really bad politicians and policy and we could have a bumpy road
Slick Willy is probably more responsible than any other single person for the ‘08 financial crisis.
But as his name would suggest he seems to skate by on that one.
They'll fix it by printing money. And they can do it. No need to move to Africa. Just own scarce assets and get wealthy. I know a really good one.After hearing all the board geezers whine about dry dick syndrome, I’ll loading up on bitchcoin.
No, you're not. You're too dumb to understand it.
@carramrod yeah I get that with the banking actions taken. I don’t know enough to pin the fall out on him. Obviously could be.
Or neither Reagan or Bush (or Clinton) regulating the bond market and letting mortgage bonds become so valuable that the only way to sate their desire was riskier and riskier lending leading to mass default and collapse.@larsiu I love bill. He’s my guy. Presidents absolute impact the economy and pricing etc but there is also luck. Dot.com. IPOs. Flipping houses. Lots of ancillary stuff pops up that can make loads of people really comfy. I see AI doing the opposite. And me saying that is akin to hickory talking law but…. tether that with really bad politicians and policy and we could have a bumpy road
Slick Willy is probably more responsible than any other single person for the ‘08 financial crisis.
But as his name would suggest he seems to skate by on that one.
Like murt said, presidents don't really do much to boost or deflate the economy other than starting wars or slapping tariffs around. Sure, they head the regulatory agencies but i doubt most of them are truly aware of the what they do.
@larsiu I know what farva is talking about tho. Repealing whatever that was in the late 90s with investment and commercial banks and allowing riskier shit. My memory is too faded and don’t understand enough about it to pin the fallout
@larsiu I know what farva is talking about tho. Repealing whatever that was in the late 90s with investment and commercial banks and allowing riskier shit. My memory is too faded and don’t understand enough about it to pin the fallout
A staple of his administration was urging more subprime lending. He pressured Fannie and Freddie to purchase more subprime loans while changing the CRA to pressure banks to offer more mortgages to low income households.
Oh I remember. I ended up getting laid off because of it. Worked for Travelers at the time and they got bought by Sandy Weill's Citicorp to become Citigroup. Downhill from there.@larsiu I know what farva is talking about tho. Repealing whatever that was in the late 90s with investment and commercial banks and allowing riskier shit. My memory is too faded and don’t understand enough about it to pin the fallout
So yeah, Dems/Pubs are all greedy bitches when you think about it. Maybe it really is just one large party focused on fucking over poor people.
Oh sure but that's not JUST b/c he was our first black president, it was also b/c the banks needed the loans to sell more mortgage backed securities.@larsiu I know what farva is talking about tho. Repealing whatever that was in the late 90s with investment and commercial banks and allowing riskier shit. My memory is too faded and don’t understand enough about it to pin the fallout
A staple of his administration was urging more subprime lending. He pressured Fannie and Freddie to purchase more subprime loans while changing the CRA to pressure banks to offer more mortgages to low income households.
@larsiu I know what farva is talking about tho. Repealing whatever that was in the late 90s with investment and commercial banks and allowing riskier shit. My memory is too faded and don’t understand enough about it to pin the fallout
Gramm-Leach-Billey. Repealed biggest parts of Glass-Steagall restrictions. Blame all around. It was written by Republicans, backed by banking lobby, supported by years of soft deregulation overseen by Clinton's admin (but dating all the way back to Reagan). One Dem arguing against it on the House floor presciently claimed the bill would lead to banks becoming "too big to fail" and would make federal bailouts mandatory.
I would argue that it was the unavoidable result of neoliberalism, which at the time controlled both parties.