Author Topic: Glen Beck  (Read 4244 times)

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Offline ben ji

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Re: Glen Beck
« Reply #25 on: February 23, 2010, 01:08:37 PM »
Glen Beck is a Jerry Springer episode with a political agenda.

Jerry Springer was a politician....

Offline Jeffy

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Re: Glen Beck
« Reply #26 on: February 23, 2010, 03:26:06 PM »
I still don't understand Beck's position.  Learn from the Past?  WTF?  Today is nothing like the 20's/30's.

I guess you're supposed to learn from the  past after the depression, not before.  I mean, jfc, this isn't that hard….congress made/forced/allowed (however you want to phrase it) banks to lend money (over the course of two administrations) and then eased or allowed for banks to structure themselves and their transactions in ways that allowed them to maintain their risk based capital even though they were taking on more risk, so wtf did they expect banks to do?  not make money?  So the banks go out and give crap loads of money out...those loans are then securitized and packaged in the market allowing access to basically the entire market....so effectively, you've packaged your risky assests under the guise of highly rated securities.....so then when growth doesn't meet the level of risk taken, the sh*t hits the fan....and guess what?  since everyone now bought into those sh*tty assets in various ways, they've now got to meet their own obligations, whether it be credit swaps or whether it be capital ratios...so they then have to sell their assets...all the while people are defaulting on their loans, causing those "non risky" securitized assets to fail and the companies that hold those assets to write them down...affecting their own books...causing people to lose their job...creating a nice little cycle of sh*t......so is that the lesson?

You forgot the part about the government forcing banks to give loans to people that shouldn't get loans/can't afford them.  The lesson we should have all learned in the past is that there are some things gov't should keep their noses out of.  This basic lesson has been retaught throughout the past 100 years in this country and people just don't learn.

Offline Paul Moscow

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Re: Glen Beck
« Reply #27 on: February 23, 2010, 04:04:20 PM »
I still don't understand Beck's position.  Learn from the Past?  WTF?  Today is nothing like the 20's/30's.

I guess you're supposed to learn from the  past after the depression, not before.  I mean, jfc, this isn't that hard….congress made/forced/allowed (however you want to phrase it) banks to lend money (over the course of two administrations) and then eased or allowed for banks to structure themselves and their transactions in ways that allowed them to maintain their risk based capital even though they were taking on more risk, so wtf did they expect banks to do?  not make money?  So the banks go out and give crap loads of money out...those loans are then securitized and packaged in the market allowing access to basically the entire market....so effectively, you've packaged your risky assests under the guise of highly rated securities.....so then when growth doesn't meet the level of risk taken, the sh*t hits the fan....and guess what?  since everyone now bought into those sh*tty assets in various ways, they've now got to meet their own obligations, whether it be credit swaps or whether it be capital ratios...so they then have to sell their assets...all the while people are defaulting on their loans, causing those "non risky" securitized assets to fail and the companies that hold those assets to write them down...affecting their own books...causing people to lose their job...creating a nice little cycle of sh*t......so is that the lesson?

You forgot the part about the government forcing banks to give loans to people that shouldn't get loans/can't afford them.  The lesson we should have all learned in the past is that there are some things gov't should keep their noses out of.  This basic lesson has been retaught throughout the past 100 years in this country and people just don't learn.

 :facepalm:




Offline Dirty Sanchez

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Re: Glen Beck
« Reply #28 on: February 23, 2010, 09:18:52 PM »
I still don't understand Beck's position.  Learn from the Past?  WTF?  Today is nothing like the 20's/30's.

I guess you're supposed to learn from the  past after the depression, not before.  I mean, jfc, this isn't that hard….congress made/forced/allowed (however you want to phrase it) banks to lend money (over the course of two administrations) and then eased or allowed for banks to structure themselves and their transactions in ways that allowed them to maintain their risk based capital even though they were taking on more risk, so wtf did they expect banks to do?  not make money?  So the banks go out and give crap loads of money out...those loans are then securitized and packaged in the market allowing access to basically the entire market....so effectively, you've packaged your risky assests under the guise of highly rated securities.....so then when growth doesn't meet the level of risk taken, the sh*t hits the fan....and guess what?  since everyone now bought into those sh*tty assets in various ways, they've now got to meet their own obligations, whether it be credit swaps or whether it be capital ratios...so they then have to sell their assets...all the while people are defaulting on their loans, causing those "non risky" securitized assets to fail and the companies that hold those assets to write them down...affecting their own books...causing people to lose their job...creating a nice little cycle of sh*t......so is that the lesson?

You forgot the part about the government forcing banks to give loans to people that shouldn't get loans/can't afford them.  The lesson we should have all learned in the past is that there are some things gov't should keep their noses out of.  This basic lesson has been retaught throughout the past 100 years in this country and people just don't learn.

 :facepalm:





 :facepalm: