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Right-Wing Socialism Part 2
2 years ago  ::  Apr 21, 2020 - 6:19PM #11
NY23
Posts: 20,951

Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.

2 years ago  ::  May 17, 2020 - 10:43AM #12
NY23
Posts: 20,951

“People Will Die. People Do Die.” Wall Street Has Had Enough of the Lockdown



Soaring unemployment and related damage—insolvency, social unrest, suicide—make stay-at-home orders untenable, say bankers and traders. But to save the economy, one asks, “how many lives are we willing to risk?”


2 years ago  ::  May 18, 2020 - 2:16PM #13
NY23
Posts: 20,951

Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds


Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.


www.propublica.org/article/whistleblower...


Among the toxic contributors to the financial crisis of 2008, few caused as much havoc as mortgages with dodgy numbers and inflated values. Huge quantities of them were assembled into securities that crashed and burned, damaging homeowners and investors alike. Afterward, reforms were promised. Never again, regulators vowed, would real estate financiers be able to fudge numbers and threaten the entire economy.

2 years ago  ::  May 18, 2020 - 2:22PM #14
bertram
Posts: 17,776

May 18, 2020 -- 2:16PM, NY23 wrote:


Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds


Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.


www.propublica.org/article/whistleblower...


Among the toxic contributors to the financial crisis of 2008, few caused as much havoc as mortgages with dodgy numbers and inflated values. Huge quantities of them were assembled into securities that crashed and burned, damaging homeowners and investors alike. Afterward, reforms were promised. Never again, regulators vowed, would real estate financiers be able to fudge numbers and threaten the entire economy.




It would have been a shocker if they didn't and if Republicans hadn't enabled them to restart their gambling with our money even in the days following the Bush Crash and onset of the Great Recession.  Attempts by Dems to reinstate strong regulations were fought tooth and nail, filibustered and watered down before a tepid bill finally made it through Congress.  According to whistleblowers, by 2015 Wall Street banks were trotting out derivative-type instruments even more toxic than the ones that led to the collapse in 2008.

2 years ago  ::  May 18, 2020 - 2:47PM #15
louisiana_lightning
Posts: 22,059

Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?

2 years ago  ::  May 18, 2020 - 3:12PM #16
SSBob
Posts: 11,574

May 18, 2020 -- 2:47PM, louisiana_lightning wrote:


Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?




~~~~~~~~~~~~~~~~~~~~


May 5, 2020 -- 7:23PM, louisiana_lightning wrote:

A very good chance?  Let's all lose our jobs and homes for a very good chance.  Honest to god if my tenants stop paying I will stop paying the mortgage and walk away.  A vaccine could be by the end of the year if we skip the safe guards.  A year or two away most like or possibly never.  Every country in the world will adapt to coronavirus life before there is a vaccine.  That's just how it is.





2 years ago  ::  May 18, 2020 - 3:20PM #17
bertram
Posts: 17,776

May 18, 2020 -- 3:12PM, SSBob wrote:


May 18, 2020 -- 2:47PM, louisiana_lightning wrote:


Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?




~~~~~~~~~~~~~~~~~~~~


May 5, 2020 -- 7:23PM, louisiana_lightning wrote:

A very good chance?  Let's all lose our jobs and homes for a very good chance.  Honest to god if my tenants stop paying I will stop paying the mortgage and walk away.  A vaccine could be by the end of the year if we skip the safe guards.  A year or two away most like or possibly never.  Every country in the world will adapt to coronavirus life before there is a vaccine.  That's just how it is.








Hmmm...walking away...doesn't sound like personal responsibility to me.

2 years ago  ::  May 18, 2020 - 3:27PM #18
louisiana_lightning
Posts: 22,059

May 18, 2020 -- 3:20PM, bertram wrote:


May 18, 2020 -- 3:12PM, SSBob wrote:


May 18, 2020 -- 2:47PM, louisiana_lightning wrote:


Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?




~~~~~~~~~~~~~~~~~~~~


May 5, 2020 -- 7:23PM, louisiana_lightning wrote:

A very good chance?  Let's all lose our jobs and homes for a very good chance.  Honest to god if my tenants stop paying I will stop paying the mortgage and walk away.  A vaccine could be by the end of the year if we skip the safe guards.  A year or two away most like or possibly never.  Every country in the world will adapt to coronavirus life before there is a vaccine.  That's just how it is.








Hmmm...walking away...doesn't sound like personal responsibility to me.




Can we acknowledge there is a consequence to that, namely the loss of property because it is secured debt.  We don't recover by insulating people from their failings because their actions affect others.


If tenants don't pay landlords have no incentive to be landlords thus no rentals avaialable.  Consequences.

2 years ago  ::  May 18, 2020 - 3:40PM #19
NY23
Posts: 20,951

May 18, 2020 -- 2:47PM, louisiana_lightning wrote:


Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?




Do you mean like Freeloading Donnie?


Examining Donald Trump’s Chapter 11 Bankruptcies


www.abi.org/feed-item/examining-donald-t...

2 years ago  ::  May 18, 2020 - 3:46PM #20
louisiana_lightning
Posts: 22,059

May 18, 2020 -- 3:40PM, NY23 wrote:


May 18, 2020 -- 2:47PM, louisiana_lightning wrote:


Apr 21, 2020 -- 6:19PM, NY23 wrote:


Elizabeth Warren and Sherrod Brown’s plan to protect consumers from financial ruin


We know that right-wing socialists, like Plutocratic Socialist Donnie, wouldn't support.




If they get something like that passed then credit and loans should be available to only the elite few.  How is it okay to not honor your debts?




Do you mean like Freeloading Donnie?


Examining Donald Trump’s Chapter 11 Bankruptcies


www.abi.org/feed-item/examining-donald-t...




I was quite critical of his bankruptcies during the campaign.  Who is championing bankruptcy reform to prevent exploitation?  That is not high on anybody's list unfortunately.

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