It looks like Mr. P. was right all along

[Najar]

[Mr. Perfect]

But that does not speak to the creation and encouragement of the subprime mortgage market.

You can learn more about that here (nothing to do with Gals Steagal):

http://www.youtube.com/watch?v=_MGT_cSi7Rs" onclick="window.open(this.href);return false;" onclick="window.open(this.href);return false;" onclick="window.open(this.href);return false;

IOW the subprime market was not created by eliminating Glas Steagal. Banks were free to make bad investments before and after that.

People have been selling and reselling debt on the debt markets well... forever. They are right now as I type. Nothing new there.

People have been insuring debt for ages, derivatives are just another way to provide insurance. In fact people are writing swaps as I type. And swaps are not "fancy". Ask anybody, I'm a total dumb@$$ and I understand a swap just fine.

[AzariLoveIran]

[Mr. Perfect]

I agree with a fair bit of that.

Just communists in my country trying to use this as an excuse to bring communism into my country. Just fighting back Az.

[AzariLoveIran]

[Mr. Perfect]

[Demon of Undoing]

I'm not going to say a very communist- like thing can't happen here. But if so, it wont be because of anything done under the promotion of the Democratic party. Except maybe some if their policies might create the proper environment of economic ruin required; but if that is the case, then one could hold Republicans equally as guilty.

No, if communism happens, it will be because people got hungrier than the rule of law could deal with, and not much less. An insignificant politician pointing out that yes, you do in fact have an obligation to pay for government services from which you benefit, which allow you to get rich in the first place, won't change that.

No, you don't deserve to keep all your money. George Washington said as much.

[Mr. Perfect]

Well it's just code word politics. When communists are out of favor this is the kind of thing they say.

When they are in favor they say things like this:

"Spread the wealth around"

and

"The promise of America is mutual responsibility". And so forth.

[Demon of Undoing]

Google " Solyndra" and " AF Gen William Shelton Congress".

Obama may be toast. Not because of these specific incidents, but because something has turned. This will go on incrementally until the election, serious investigations. Even if nothing sticks, this is a dimension with which Obama lacks experience and even more, will distract and wear him down. It did to Clinton, and Obama is nowhere near as high energy and fully mental gamed as Clinton at his finest.

He has never run up against the kinds of pull on influence he is within now, and furthermore, he never pissed off the CIA or the Pentagon. He may have done just that. At the least, he has lost important shielding at the subcommittee level. If so, all bets are off.

This is so ominous, it requires Leatherwolf