Why Does Wells Fargo Still Exist?

[*michaelsean*]

(08-27-2018, 07:28 PM)Nately120 Wrote: Who should honestly be in favor of what transpired?  Democrats wouldn't have been in favor of the massive deregulation to begin with.  I will say (here comes that race thing again) that I recall the housing market crash being blamed in no small part on democrats twisting arms to give minorities loans they couldn't cover and that leading to defaulting and crashing and so on.

How true that is and how much of it is just the old "Hey, you'd better watch that minority over there while I sneak this sack full of ill-gotten loot to the bank" we may never know.

I wasn’t implying Democrats should, just that conservatives shouldn’t.

[*Nately120*]

(08-27-2018, 08:44 PM)michaelsean Wrote: I wasn’t implying Democrats should, just that conservatives shouldn’t.

They shouldn't but they've been conditioned to believe that these "job creators" are victims of a system that has vilified the rich and the cause of economic strife is due to the poor being greedy and lazy criminals.  Gotta save the job creators!  Why not tell them to just "work harder" and dig themselves out of the hole instead of giving them a handout?

Oh well. I'm sure I'm just high on my own delusions, but I think any legit conservatives who aren't obsessed with gay men have moved towards the libertarian party. They just don't have the nutsack to band together and actually vote that way.

[Belsnickel]

(08-27-2018, 09:00 PM)Nately120 Wrote: They shouldn't but they've been conditioned to believe that these "job creators" are victims of a system that has vilified the rich and the cause of economic strife is due to the poor being greedy and lazy criminals.  Gotta save the job creators!  Why not tell them to just "work harder" and dig themselves out of the hole instead of giving them a handout?

Oh well. I'm sure I'm just high on my own delusions, but I think any legit conservatives who aren't obsessed with gay men have moved towards the libertarian party. They just don't have the nutsack to band together and actually vote that way.

I gotta say, Nately, you remind me of what I went through in my transitional stage from a more libertarian minded person to my current stance. I feel like if our political system were in a better state I could sway you over to my side, but I know your cynicism about our elected officials keeps you away.

[*Nately120*]

(08-27-2018, 09:10 PM)Belsnickel Wrote: I gotta say, Nately, you remind me of what I went through in my transitional stage from a more libertarian minded person to my current stance. I feel like if our political system were in a better state I could sway you over to my side, but I know your cynicism about our elected officials keeps you away.

I'm mostly a libertarian because they aren't getting elected.  As soon as they become viable some arse-hat like Trump will run as one and I'll jump ship.

[Belsnickel]

(08-27-2018, 09:13 PM)Nately120 Wrote: I'm mostly a libertarian because they aren't getting elected.  As soon as they become viable some arse-hat like Trump will run as one and I'll jump ship.

I get that. I have a hard time because while I identify with the Democrats and volunteer with them it is only because they are closest to my positions. There is actually a city council candidate here that a lot of party folks are unhappy with because she decided to run as an independent after not getting the backing of the committee and is now going to split the vote. But a lot of us are likely going to vote for her because one of the candidates is shit.

Tl;dr: party politics bullshit is terrible.

[*Nately120*]

(08-27-2018, 09:19 PM)Belsnickel Wrote: I get that. I have a hard time because while I identify with the Democrats and volunteer with them it is only because they are closest to my positions. There is actually a city council candidate here that a lot of party folks are unhappy with because she decided to run as an independent after not getting the backing of the committee and is now going to split the vote. But a lot of us are likely going to vote for her because one of the candidates is shit.

Tl;dr: party politics bullshit is terrible.

I hear ya, it takes a bizarre combination of caring about politics and yet not caring about politics to stick to a 3rd party.  

[*michaelsean*]

(08-27-2018, 09:13 PM)Nately120 Wrote: I'm mostly a libertarian because they aren't getting elected.  As soon as they become viable some arse-hat like Trump will run as one and I'll jump ship.

DO NOT LET HIM IN YOUR HEAD!!! Nothing about what you say translates into Matt’s post-concussion philosophy. You are probably the most consistent person here.

[fredtoast]

(08-27-2018, 07:04 PM)michaelsean Wrote: I must have still been on my cigar board discussing this because I was a very lonely voice saying this. No conservative should have been in favor, but I was getting it from both sides.

The bailout was not a good thing, but it was necessary.

We could not just let our financial industry collapse.  It is probably the single largest industry in our GDP.  Other players would have stepped in and taken over.  It was not something that we could have just suffered for a while and came out better in the end. 

So while I hated the bail out I realized we had not choice, but my head exploded when I realized there would be "no strings attached".  remember how OUTRAGED Wall Street was at the suggestion that there should be some rules or regulations placed on the billions of government dollars they received?  gthey were like "How dare you try to tell us what to do with all this money you just gave us!"

The fact that there were no sweeping regulations after the bailout was criminal.

And there are still a bunch of people heer who claim it was because people "bought more house than they could afford" or "Democrats forced the bankers to lend to minorities with bad credit". 

[*Nately120*]

(08-27-2018, 09:49 PM)fredtoast Wrote: And there are still a bunch of people heer who claim it was because people "bought more house than they could afford" or "Democrats forced the bankers to lend to minorities with bad credit". 

Well it couldn't have been the fault of the people who are totally awesome and run this entire world, could it?!

[Belsnickel]

(08-27-2018, 09:49 PM)fredtoast Wrote: The bailout was not a good thing, but it was necessary.

We could not just let our financial industry collapse.  It is probably the single largest industry in our GDP.  Other players would have stepped in and taken over.  It was not something that we could have just suffered for a while and came out better in the end. 

So while I hated the bail out I realized we had not choice, but my head exploded when I realized there would be "no strings attached".  remember how OUTRAGED Wall Street was at the suggestion that there should be some rules or regulations placed on the billions of government dollars they received?  gthey were like "How dare you try to tell us what to do with all this money you just gave us!"

The fact that there were no sweeping regulations after the bailout was criminal.

And there are still a bunch of people heer who claim it was because people "bought more house than they could afford" or "Democrats forced the bankers to lend to minorities with bad credit". 

I agree that the bailout was a necessary thing. It was a difficult pill to swallow. You hit the nail on the head with the lack of regulatory efforts in the aftermath, though. I would add that there was no accountability for those that were responsible, either. The bailouts should have come with some heavy strings in an effort for the executives and other leaders in the industries involved that caused the crisis to be held accountable.

There is also the issue with the toothless, half-assed regulatory attempts that occurred in the aftermath being removed by the current administration and Congress, as well. All in the name of profit over people.