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Quote:

Originally Posted by HardDrive (Post 3856506)

Bush is the greatest traitor to the conservative cause this country has ever seen.

Is there anything the man hasn't touched that hasn't ended in ruin?

BTW, the subprime mess is going to be a walk in a field of spring fresh daisies compared to the impending personal credit card crisis coming 6 months to a year down the road.

Quote:

Originally Posted by RoninLB (Post 3856436)

me
The Treasury Sec has done a lousy job for a very long time no matter which president imo. Why didn't Fed bank regulators respond to off balance sheet SIVs? Why didn't Treasury complain about Greenspan subsidizing interest rate costs by indirectly inflating the money supply? Real estate inflation has been wacking the economy as it travels throughout. Where is all this cash sitting on the sidelines going to travel to next? [hope it's the stock market]

my initial opinion is that the report addresses some market noise while using Treasury for investor political bs. The gin mills around Wall and Broad are probably humming with methods to get around any regulation that DC can dream up. If they change the rules so you can't win the answer is simple, just invent a new game.

Concur. It's hard to fix the problem when you're part of the problem.

Additionally, we must be skeptical of financial innovation. What was wrong with the mortgage market pre-2000? There's nothing wrong with a fixed rate mortgage with modest down payment and conventional, perhaps conservative underwriting. Couple the 'innovation' with greed and failure isn't far. So, with new oversight, we're supposed to put the squeeze on unstable activity. As long as you have greed, you'll always have folks trying to turn a pile of **** into a pile o' gold. Regulate one method and we'll find a new way to turn tricks. After all, today's mortgage melee is just a spin on yesterday's old game (re: 125% mortgages in the 90s).

Quote:

Originally Posted by Shaun 84 Targa (Post 3856513)

Is there anything the man hasn't touched that hasn't ended in ruin?

Quick! Someone get him to touch Hillary!

Quote:

Originally Posted by Porsche-O-Phile (Post 3856639)

Quick! Someone get him to touch Hillary!

he won't , Cheney told him she has cooties

Quote:

Originally Posted by cool_chick (Post 3856064)

I am not convinced this is the man to effectly, unbiasedly, analyze this.....

You got THAT right!

[QUOTE=BTW, the subprime mess is going to be a walk in a field of spring fresh daisies compared to the impending personal credit card crisis coming 6 months to a year down the road.[/QUOTE]

Shaun, no worries, the Dems will propose another bailout getting rid of peoples credit card debt. And I, as the chump that I am, will miss out on that bailout as well because I carry no CC debt. :rolleyes:

Quote:

Originally Posted by Hugh R (Post 3857480)

Shaun, no worries, the Dems will propose another bailout getting rid of peoples credit card debt. And I, as the chump that I am, will miss out on that bailout as well because I carry no CC debt. :rolleyes:

Hugh, I'll send you half of mine. :) Thanks for the post on the Rudge site, have one fellow in Scotland who wants a shirt.

Quote:

Originally Posted by Hugh R (Post 3857480)

+1

If there is a CC bailout in this country, it will be the clear milestone that historians will point to as the 'beginning of the end' for the United States as a great nation.