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Phill Gramm Ruined The Economy



Uploaded by: TheYoungTurks
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Tags for this video: bankrupcy banks economy eron finances gramm indymac john mccain money phill psychological ruin the turks young

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yes but this has no ... ( 2 months ago by random0815)
yes but this has no practical value as everything we refer to as "democracy" today is based on constitutional principles, there never really was the proposition of pure democracy, its an entirely anachronistic argument that is distorting present day realities, and they didnt mean there should be no democratic control, and tbh I think no one would consider americans well-armed lambs but much rather docile sheep be in their system
"I think no one ... ( 2 months ago by Rahab111222)
"I think no one would consider americans well-armed lambs but much rather docile sheep be in their system"
I'd say most Americans are more like lemmings, to me.
true but thats ... ( 2 months ago by random0815)
true but thats unrestraint capitalism, no way to stop, btw. i see your point: this democracy thing is actually used in different ways, what bush does is another side, instead of promising stability and rule of law first they went for instant democracy either calculating or ignoring the problems that this would cause (still the iraqis made an admirable attempt to realise it which was of course disrupted by the US)
So, what did Nancy ... ( 2 months ago by Srhandel)
So, what did Nancy Pelosi do over the past two years when the banks were writing these subprime mortgages?????? She was well aware of what was going on, she is Speaker of the House, I have barely heard a word out of her in 2 years. I haven't heard much from Harry Reid either. Ted Kennedy gets a pass, what about Obama, I haven't heard much from him either. Anyone with half a brain knew this was coming down the pike. I knew it a year and a half ago. And I'm not an economist either.
I was offered an ... ( 2 months ago by Srhandel)
I was offered an IPO in a bank that I had an account with for 7 or 8 years last summer. I had planned to participate, then you could see this whole subprime meltdown coming last summer (of 2007). I decided not to invest $20,000 in an IPO of the bank at the last minute. I had the check ready to mail. The stock was listed on the NYSE Nov. 2007 and opened at $10 a share. It is now at around $10.50 a share. It is doing better than alot of other bank stocks but I felt it was too risky to invest.
So if I could see ... ( 2 months ago by Srhandel)
So if I could see this whole scenario coming and I'm just an average person who does not work in a bank or on Wall Street, why couldn't Nancy Pelosi or Harry Reid or the Democrat controlled Congress see this coming?? Why did Bill Clinton allow deregulation to take place when he signed the bill into law?? Cenk you make some good points but your voice is really annoying when you yell. Tone it down please. Also, for some reason I can't download the flash player so I can't watch alot of your videos.
The bankers who ... ( 2 months ago by Srhandel)
The bankers who underwrote these interest only loans, etc. loans that re-adjust never saw the housing bubble bursting coming ?? They allowed naive people who never owned a home to buy one w/no money or little money down?? They charged them predatory lending rates. I have owned real estate for 20 years, I have never even considered taking an ARM. I currently have a 15 year loan at 5% interest that is almost paid off. My house has lost value but I should be okay if the entire economy doesn't fail.
Deregulation/ ... ( 2 months ago by rctube1958)
Deregulation/regulation is a misnomer. What happens in both is politicians pass rules written by the effected companies to give the companies a risk free ride. Freedom from failure; let the gambling begin. The calls for regulation is just falling into this trap. We don't need more regulation. We have too much. What we need is a system that allows the big money to truly fail, go bankrupt, not be "too big to fail." In that environment, business will regulate itself accordingly.
Hey, Cenk, You ... ( 2 months ago by daveelderdotcom)
Hey, Cenk, You nailed it here, again! Regulations = rules -- that's brilliant in its simplicity! And when you put it that way, as in, "Republicans say there should be no rules in business" (and they do), you make it much clearer what kind of crazy talk that is. -dave elder
did you not pay ... ( 2 months ago by lebaneseameer)
did you not pay attention in Finance classes?? What are you talking about?
"We don't need no ... ( 2 months ago by luvangel330)
"We don't need no stinkin' rules!!"
The US bailed out ... ( 2 months ago by AnonymousBChurch)
The US bailed out Bear Stearns new owner JP Morgan by swapping their worthless "subprimes" for US dollars, including Treasury putting the US taxpayer directly on the hook for Bear Stearn's liabilities, stopped naked shorts from a list of the top most connection Wall Street firms, bailed out Fannie and Freddie with tax money, and has devalued the currency through inflation at historic levels. This is just Communism for the Bankers.
OF COURSE!!! lol. ( 2 months ago by Basta11)
OF COURSE!!! lol.
That's cause the ... ( 2 months ago by shirazhound)
That's cause the Dems have been outnumbered on Capitol Hill since the Clinton era. Stopping this instantly would've been like stopping a high-ballin locomotive by stretching chicken wire across the tracks....
Oh, very, very well ... ( 1 month ago by TheGiantRobot)
Oh, very, very well said.
Yeah, that was the ... ( 1 month ago by TheGiantRobot)
Yeah, that was the final straw for me. They aren't even being subtle about it anymore - you're a billionaire who violated ethics, bankrupted your company, and took home multi-million dollar rewards in the bargain? Jail time? No, no. Here, take the citizens' money and do it again. Revolution anyone? I'm there.
srhandel, video now ... ( 2 weeks ago by Itslifeshithappens)
srhandel, video now has 3,923 views...that's how many times people see your face and say, 'His mother must have had a bitch of a pregnancy'...hehe..funny.
Barack Obama ... ( 2 weeks ago by bennyh12345)
Barack Obama received the 2nd most campaign contributions from Fannie Mae. Democrat Chis Dodd was first. Fannie Mae's disgraced former CEO-Franklin Raines- is an Obama economic advisor.
Obama slected disgraced former Countrywide Mortgage CEO Jim Johnson to lead his VP vetting committee. Remember? It was only a few months ago. Jim Johnson resigned when it was revealed his corruption and golden parachute were revealed. Obama's blasts Countrywide, picks Jim
It was Clinton who ... ( 2 weeks ago by bennyh12345)
It was Clinton who repealed the Glass-Steagall Act in 1999.
Free market driving ... ( 2 weeks ago by jereuter01)
Free market driving!!! LOL!!!
amen ( 2 weeks ago by crayyawn)
amen
good stuff man we ... ( 2 weeks ago by tariffmariff)
good stuff man we need to know the truth
HISPANICS were the ... ( 2 weeks ago by tellthetruthh)
HISPANICS were the major group to hold SUBPRIME LOANS. HISPANICS were given loans when other groups could not get them. Now they want to be bailed out of their mess!!!If they weren't so greedy they would not be in this situation. Most of them didn't even have SSN oe EINS.Now BUSH has made it possible for them to get bailouts without SSN or EINs!!!S0illegals aliens are milking the system again!!! While Americans pay the bill!!!
Yeah...just because ... ( 2 days ago by McGyver9)
Yeah...just because some lib said it makes it true....have some more kool-aid. Any explanation why that fag barney frank didn't say something about this? Because this video is full of lies.... You guys make up (and believe) more BULLSHIT than a third grader.



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