AMERICAN CONSERVATISM IN 2008 AND BEYOND

Cyclop, even you could not have carefully read the NY piece that you linked and failed to see how it does not only rebut my opinion on this, but actually reinforces it. You really don't understand those terms you asked me about earlier and then refused to define them or explain how they applied to this issue, can you.

Cyclop, even you could not have carefully read the NY piece that you linked and failed to see how it does not only rebut my opinion on this, but actually reinforces it. You really don't understand those terms you asked me about earlier and then refused to define them or explain how they applied to this issue, can you.

What I mean is that AIG could not have leveraged the schemes it was doing without abuse of the CRA by our government that created the housing bubble in the first place.

The EU's own misguided banking practices--the same sort that the government used the CRA to justify implementing here--has escalated the snowball and it keeps getting bigger and rolling over more stuff.

Again you can say it isn't true until the cows come home, but I have offered numerous informed opinions now for my opinion and shown the link between AIG's problems and that--a link supported by the piece YOU posted.

Until you can come up with something more than your own opinion to show me how I am wrong, I have to believe I have more support for why I am right than you have support for your assertion that I am wrong.

(And these silly straw men that you and CI are putting out there re somebody 'forcing' somebody as if that is pertinent is...well....silly.)

Scott Jagow: Shares of insurance company AIG are getting crushed. They're down 40 percent this morning. AIG is in trouble too, just like Lehman and Merrill Lynch. We're joined by our New York bureau chief Amy Scott. Amy, why is an insurance company tied up in this Wall Street mess?

Amy Scott: Right, well, Lehman, Merrill, Washington Mutual, AIG -- what all of these firms have in common is investments tied to risky mortgages. Now AIG is an insurer, but it sold contracts to protect bond investors against losses from subprime and other risky investments. And as those investments have lost value, AIG has lost a ton of money.

Jagow: So what is AIG going to do to try to save itself.

Scott: Well, you know, it's facing a potential downgrade by the major credit-rating agencies, which could be disastrous for the company. So AIG is working on a plan to raise money and sell some assets. The company is reportedly seeking help from the Federal Reserve, possibly in the form of a loan. It would be very unusual for an insurance company to get that kind of help from the Fed.

Jagow: Yeah.

Scott: But I think it says a lot about our complex financial system where arguably if AIG ran into trouble it could affect the whole system.

Jagow: And the Fed ,even though it backed off the Lehman situation, it isn't disappearing. The Fed is considering some more action. What is it up to right now.

Scott: Fed officials were working around the clock this weekend. They're taking some additional steps to calm the markets by saying that the Fed will accept a broader array of securities as collateral for its loans. Officials are also working with the global consortium of banks, which announced a $70 billion pool of money to lend to troubled institutions. And, of course, the Fed meets tomorrow to set interest rate policy. Now, analysts are expecting the committee to keep short-term rates steady at 2 percent, but in the face of this crisis on Wall Street, it is possible we might see another rate cut in the coming weeks.

Jagow: Wow. All right, Amy Scott in New York. Thank you, Amy.

Scott: Thanks, Scott.

It was you and other Republicans who were arguing in this thread that the government 'forced' people to hand out loans to minorities and poor folks, and that's how the problem got started. But that's bullshit.

HOW'S THIS FOR A "SENILE OLD MORON"?
(links were posted multiple times in previous posts)

REAGAN
Unemployment decreased from 9.7% in 1982, to 5.6% in 1990.

Income tax rates decreased from 12% min and 50% max in 1982, to 15% min and 33% max in 1990.

Revenues increased from 617,766 million in 1982, to 1,032,094 million in 1990.

GDP increased from 2,789.5 billion in 1980, to 5,103.8 billion in 1988.

59% Still Believe Government Is the Problem
Thursday, February 26, 2009
Rasmussen Reports

In early October, as the meltdown of the financial industry gained momentum following the collapse of Lehman Brothers, a Rasmussen Reports national telephone survey found that 59% of U.S. voters agreed with Ronald Reagan that “government is not the solution to our problem; government is the problem.”

Since then, the stock market has fallen roughly 3,000 points, millions of jobs have been lost, nearly a trillion dollars has been spent so far to bail out the financial industry, an additional $787-billion government stimulus package has been approved, and a new president has taken office who has proposed spending billions and billions more.

Despite all that, a new Rasmussen Reports telephone survey shows that the basic views of the American people have not change: 59% of voters still agree with Reagan’s inaugural address statement. Only 28% disagree, and 14% are not sure.

Middle-income voters are more likely to agree with Reagan than those who earn less than $20,000 or more than $100,000.

Political liberals strongly reject Reagan’s view by a 60% to 28% margin. Forty-seven percent (47%) of moderates agree, while 32% do not. Conservatives are overwhelmingly supportive.

Although the Republican Party in Washington veered away from Reagan’s approach in the years since the 40th president left office, 83% of Republican voters around the country still agree with him. So do 40% of Democrats and 60% of those not affiliated with either major party.

A majority of all voters say the Republican Party should return to the views and values of Reagan to be successful.
http://www.rasmussenreports.com/public_content/politics/general_politics/59_still_believe_government_is_the_problem

I have already posted my step by step opinion along with links to support it and I have rested my case. Rebut it if you can rather than continuing to ask me to keep restating it.