Phuking Republicans!

[Kirkland Laing]

This is the second time in twenty years that the GOP deregulated the banking industry and then bailed them out. Both times they risked triggering a serious recession/depression.

There were serious problems before any deregulation took place

Explain these serious problems.

[El Kabong]

Well the government basically telling banks to lend money to people who everyone knew wouldn't be able to pay it back

[Kirkland Laing]

Well the government basically telling banks to lend money to people who everyone knew wouldn't be able to pay it back

The government isn't telling anybody to do anything. Both Republican and Democratic leaders have pushed for more minority and low-income housing. Here's George Bush doing just that :

"And so we need more counseling and more education to make sure our fellow citizens know what it means to buy a home and can get comfortable with the idea of buying a home. And so we've doubled the amount of money available for community-based programs, faith-based programs -- (applause) -- to be able to brief their parishioners and/or their fellow citizens about the opportunities and the hope and what it takes to be able to purchase a home."


But minority and low-income housing is something that everybody since jimmy Carter has pushed for. What happened over the past few years was something else entirely. And it was literally the last four years. This took four and a bit years and the Reagan-era one took three and a bit. That's how long it takes for greed to overtake the financial industry when they're given the opportunity to make a lot of money.

[El Kabong]

So who got greedy Kirkland? Was or was not the CEO of Fannie Mae making bonuses whilst buying up these horrible loans and weren't politicians Republicans AND Democrats alike making money off of Fannie and Freddie

The road to hell is paved with good intentions

[Trainer Monkey]

So who got greedy Kirkland? Was or was not the CEO of Fannie Mae making bonuses whilst buying up these horrible loans and weren't politicians Republicans AND Democrats alike making money off of Fannie and Freddie

The road to hell is paved with good intentions

So your saying if one party steals a little,it excuses the other for stealing alot?
Talk about your roads to hell and all

[Kirkland Laing]

So who got greedy Kirkland? Was or was not the CEO of Fannie Mae making bonuses whilst buying up these horrible loans and weren't politicians Republicans AND Democrats alike making money off of Fannie and Freddie

The road to hell is paved with good intentions

Everybody involved with this was making lots of money. Let's have no class envy here Lyle. They did what they were meant to in American life, worked hard and got to the top. And like I told you before Fannie and Freddie are just cogs in the financial system, they aren't any more responsible than Goldman Sachs or Lehman Brothers, in fact much less so. The only reason you even have heard of Fannie and Freddie is because they're the only way the places you get your news from can link this to the Democrats. But Fannie, set up in the 1930s and the 1977 CRA are not reponsible for the current mess. Like I already explained this was all down to laws scrapped after 2000, a time when the GOP controlled all branches of government and Democrats had no control over any regulatory or financial bodies.


Thanks for the bailout anyway. I'm pretty confident it'll be enough to keep things ticking long enough for Congress to be bribed into paying out another one. Maybe some kind of rolling ongoing bailout mechanism even.

[Kirkland Laing]

So who got greedy Kirkland? Was or was not the CEO of Fannie Mae making bonuses whilst buying up these horrible loans and weren't politicians Republicans AND Democrats alike making money off of Fannie and Freddie

The road to hell is paved with good intentions

So your saying if one party steals a little,it excuses the other for stealing alot?
Talk about your roads to hell and all

It's not really stealing. These guys get bought for campaign contributions, a few thousand or a few tens of thousands for the top committee members. But there's no equivalency here. It's OK to take donations but not to let these guys write the rules, or in the case of the banking industry chainsaw the rules. Only one party did that.

[Trainer Monkey]

So who got greedy Kirkland? Was or was not the CEO of Fannie Mae making bonuses whilst buying up these horrible loans and weren't politicians Republicans AND Democrats alike making money off of Fannie and Freddie

The road to hell is paved with good intentions

So your saying if one party steals a little,it excuses the other for stealing alot?
Talk about your roads to hell and all

It's not really stealing. These guys get bought for campaign contributions, a few thousand or a few tens of thousands for the top committee members. But there's no equivalency here. It's OK to take donations but not to let these guys write the rules, or in the case of the banking industry chainsaw the rules. Only one party did that.

Ah but my point Kirkland,is Lyle is trying to fob of responsibility by equating a PAC contribution that the CEO probably wasnt even aware of,to paid for trips,and a night on the yacht,plus a much larger contribution.
One is buisness as usual
The other is palsy walsy