Obama ultimate fail: China is punking the USA

[wings_of_fire]

Bill Clinton repealed the Glass Steagall act. It was a terrible game played against the common man in America.

Glass Steagall act was something that protected the common mans savings in the banks from the market volatality. It meant that the banks holding these savings could not use that money to trade in the stocks market or anything that would harm the safety of their savings.
After this act was repealed, what happened was that, banks used that money in the stock market. The effect was that It created a volatile and unpredictable stock market. So banks used the publics money to make the public loose their money in the stock market. Things like these go unnoticed.
Simply put, banks put their hands in the publics pocket and got away with it and Bill Clinton was a part of it.

 

[Duuuuuuuude]

Bill Clinton repealed the Glass Steagall act. It was a terrible game played against the common man in America.

Glass Steagall act was something that protected the common mans savings in the banks from the market volatality. It meant that the banks holding these savings could not use that money to trade in the stocks market or anything that would harm the safety of their savings.
After this act was repealed, what happened was that, banks used that money in the stock market. The effect was that It created a volatile and unpredictable stock market. So banks used the publics money to make the public loose their money in the stock market. Things like these go unnoticed.
Simply put, banks put their hands in the publics pocket and got away with it and Bill Clinton was a part of it.

It was repealed because no one was supporting it any more. The Fed 'interpreted' it differently than in was written, and was already allowing financial institutions to play with their investors money like the act never existed.

The GS act was originally written to protect the public from another financial meltdown that caused the depression, letting it slide to the wayside and deregulating the financial industry nearly caused it to happen again...

 

[wings_of_fire]

It was repealed because no one was supporting it any more. The Fed 'interpreted' it differently than in was written, and was already allowing financial institutions to play with their investors money like the act never existed.

That is how laws are twisted by the power hungry.

Isen't it funny that they repealed a law just because no one was following it.
Usually the outcome should have been to punish the law brakers, but they bent the law instead:shock:


I forgot to mention Lehman Brothers.........Thats the outcome of it and kick starting a recession.
So many common people must have invested with this financial service provider and I wonder if they got their money back.

 

[Duuuuuuuude]

I wonder if they got their money back.

:lmao:

 

[opek]

Get your fiscal house in order: China warns US as superpower expresses concern for $1.3tn of investments - Americas - World - The Independent




Get your fiscal house in order: China warns US as superpower expresses concern for $1.3tn of investments

'Clock is ticking', says Chinese minister, as US fails to break deadlock over government shutdown and fast-approaching ‘debt ceiling’ deadline........




Now we are being pushed around by China. And Obama is to much of a bitch to do anything. My guess he pawns Air Force One.

Yeah **** Obama. This has nothing to do with the tea party. Even Boner was always for it. Always. Never flip flopped. Neither did the GOP. Yep. They were always on board. Always.:lmao::lmao::lmao:

 

[wings_of_fire]

:lmao:

:ror: I know it is highly impossible to get the money back..

but still, I meant if there were legal case filled against Lehman brothers then the possibility of getting the money back....

 

[Duuuuuuuude]

:ror: I know it is highly impossible to get the money back..

but still, I meant if there were legal case filled against Lehman brothers then the possibility of getting the money back....

What was done was 'technically' legal with only a couple of exceptions, but the way it was done was highly unethical and the results were, well, we know how it turned out.

There are a few ongoing cases that I know of, most of them are on the civil level and being handled in NYC.

They only obvious illegal behavior was on the part of AIG, as they were selling bum stocks along with insurance against those stocks at the same time. You can't do both.

 

[RANOVRU]

A threat from China?

Ima raking in mah roots.

 

[wings_of_fire]

They only obvious illegal behavior was on the part of AIG, as they were selling bum stocks along with insurance against those stocks at the same time. You can't do both.

They can put that move under hedgeing. Its legal to hedge in stock market and all traders do that to counterbalance loss.

But selling bum stocks and selling insurance against bum stocks is a non profitable move for such a big financial service provider. I think it was planned on purpose and they knew the company would go bankrupt, but to steal the money they used Lehman Brothers as a tool. When someone looses money in stock market, obviously someone makes money.

 

[raceeng18]

Our lawmakers are a joke. We elect millionaires and billionaires because they tell us they care about us and they have our best interests in mind when in fact, we have nothing in common with them or they with us. We allow them to shut down our federal parks, memorials, and even private businesses that sit on federal lands. We allow them to remove our rights one by one and what do we do, we sit here like the complacent asses that we are waiting for someone else to carry the torch. We are where we are because we allow it to happen to ourselves. I love my country, but our lawmakers suck.

 

[wings_of_fire]

when in fact, we have nothing in common with them or they with us.


waiting for someone else to carry the torch. We are where we are because we allow it to happen to ourselves.

Very true words"thumbsup"

Politicians all over the globe have learn't the psycology of masses. They are aware of their power and weaknesses.

When president J.F Keneddy tried to do good for the public, he was assasinated. No other president dared to take decesions in pure interest of the public. They used a single bullet to turn coarse of time.

I have never heard of anything like that in our modern era where someone went out of their way to establish justice. A handful of people are controlling the public who are indeed power, except they don't think in a single direction.

 

[tazman]

I say tuck the politicians. We need to have people in office that are truly "for" the people. These idiots don't care about anything but themselves. They won't even put themselves on this new spectacular health plan for Christ's sake. We the people, well not me, I didn't vote for Obummer, get who we vote into office. He even put his fingers into what the Washington Redskins can call themselves!!!!! W.T.F! Sorry, this shiet really gets me riled up. As idiot Carney starts with, The President has said, idiots all f'n idiots. Keep it shut down, we the people will take over.

 

[boosted4lyf]

Saw somewhere that they're going to let states pay to reopen national parks

 

[opek]

our government is an embarrassment and the worlds joke.

I lead you to: Silvio Berlusconi - Wikipedia, the free encyclopedia

And:

Really I don't think the world is laughing at our government. Even from within our own country only the most ill informed are blaming anything but the tea party or the GOP for tucking tail and following suit.

NBC/WSJ poll: Shutdown debate damages GOP - First Read

 

[tom@vp]

I stand firm.

But a proper retort would go deep to the four corners and will take time.

and where to start, bleh....

The constitution ?
The federal reserve ?
The Election system ?
Term limits ?
lobbyists ?
legal insider trading ?
trade deficits ?
Powers of war ?
Presidential pardons ?
Our own poverty ?
Our grade school education system ?
corruption government contracts ?
Our over crowded jails ?
Our medical system ?
Immigration ?
The wall street fiascoes for the last 10 years, almost no one went to jail.
The banking monopoly's

where to stop.

If these guys could just tackle one problem, and fix it, it would be huge.

Right now, and for decades nothing is getting DONE.


From a man proud of americans, just not the government.

 

[Duuuuuuuude]

If they could just fix #5 and #6 on your list, it would take care of most of the other issues as well.

 

[BJoe]

If they could just fix #5 and #6 on your list, it would take care of most of the other issues as well.

I was just thinking the same thing"thumbsup"

 

[Peaker]

In my contry i think term limits is one of the worst problems, when a person get in our goverment he is in it for life or untill he get a CEO job at some big firm , or go down to EU to do more damage there.

In my opinion a person should only be allowed to Work 16 years in goverment, after that he can work politiks on a lower level or get a ordenary job.

Goverments really need a higher turnover of ppl to keep proactive and not proforma-active as they are now. ( proforma-active is a Word i invented for ppl who think they are proactive )

I am allso oposed to when ppl finally leave poltics ther child have been groomed to take over daddys job, and beeing a politician at the highest level is not a JOB its a declaration of trust from the ppl.

I allso think our politicians are getting paid too mutch, ther salery should be a average of the ppl in the contry.

Tom i agree a lot with you "thumbsup"

 

[opek]

I stand firm.

But a proper retort would go deep to the four corners and will take time.

and where to start, bleh....

The constitution ?
The federal reserve ?
The Election system ?
Term limits ?
lobbyists ?
legal insider trading ?
trade deficits ?
Powers of war ?
Presidential pardons ?
Our own poverty ?
Our grade school education system ?
corruption government contracts ?
Our over crowded jails ?
Our medical system ?
Immigration ?
The wall street fiascoes for the last 10 years, almost no one went to jail.
The banking monopoly's

where to stop.

If these guys could just tackle one problem, and fix it, it would be huge.

Right now, and for decades nothing is getting DONE.


From a man proud of americans, just not the government.

Gerrymandering, addons to legislation, and lobbying are my top three. The former 2 prevent our congressional representatives from representing our views. The latter ensures business owners are deciding which laws are getting written and, largely, which laws are getting passed. "thumbsup"

I think we agree more than we disagree! We're definitely a joke in those European socialist paradises.

 

[Corrupt]

Thank you guys for blaming the GOVT. and not OBAMA. We are in a democracy. Not a dictatorship. Quit claiming Obama is the problem, because he's not. Our government is the problem.

-Corrupt