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Message 11 of 39
rker posted..

I will have to agree that it may be the problem here. look at ATT and how they have grown, taken over many smaller companies and now being practically theones that can offer many of the services that we all have.
Sorry but wqhatever happened to the ant trust laws and the monopoly laws.

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Based on Judge Harold Green's Modified Final Judgement of 1982, AT&T on January 1 1984 became a long-distance company, while seven regional Bell Operating Companies (RBOCs) took control of the nation's local phone networks. The break up of the telephone monopoly was a big event.Jan 3, 2014

AT&T is not what it was....look at the stock....look at the competition they have thanks to the break up.

Unfortunately we have owned some AT&T for years.


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Message 12 of 39
angeleyes64 posted...

@KidBoy2said When we have a majority of posters calling Trump very name in the book and others giving them Kudos for doing so what would you call it?

What do you call it when The Donald calls SO MANY people nasty names., Leaders of Other Countries, Leaders of Our Country. He has called many people nasty names, is it OK, just because he's a so called President?

He deserves every nasty name he gets, because you get what you give. IMO**********

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When we have a majority of posters calling Trump very name in the book and others giving them Kudos for doing so what would you call it?

You did not answer my question.

Your reply is precious. Why? Because you are saying that because Trump says bad things...which he does..... Trump being Trump..... you think its OK for people to emulate him...in other words doing what they do because of what Trump does. Like trump is their mentor...is that why you and others do it...is Trump your hero?

Yes, you get what you give. You just proved that...THANKS!!!
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Message 13 of 39

@rk9152 wrote:

 


 


To me the problem was and maybe still is the idea of "too big to fail". If that's the case, an entity should not be permitted to get to that state. 


I will have to agree that it may be the problem here. look at ATT  and how they have grown, taken over many smaller companies and now being practically theones that can offer many of the services that we all have.
Sorry but wqhatever happened to the ant trust laws and the monopoly laws.

 

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Message 14 of 39

@gordyfl wrote:

The best regulation for banks is to make the sale of mortgages from one bank to another ILLEGAL.  Right now banks are permitted to take risks because they can bundle up some good mortgages along with some bad mortgages (risky) and sell them to another bank. How many people have the same bank holding their mortgage 10 years in a row (not many)?  Years ago, this was never done and banks were very cautious making loans.

 

Yep, my mortgage went to three different banks over time. 

 

On top of that, banks were buying and selling derivatives, such as credit default swaps, supposedly to protect their mortgages. Estimates were $60 Trillion of credit default swaps. The government came to the rescue with bailouts. The Fed helped by buying those "toxic assets". From what I heard, the Fed has not yet unloaded all the toxic assets they were holding, and are still getting rid of them - little by little, and it is affecting the yield curve. Don't ask me to explain. I just heard someone put the words "yield curve" and "Fed unwinding" in the same sentence. 

 

Here's an article from October 8, 2008

 

"The $60 Trillion Nightmare of Credit Default Swaps"

 

https://seekingalpha.com/article/99027-the-60-trillion-nightmare-of-credit-default-swaps

 

and 

 

Lehman Credit-Default Swap Payout Could Climb as High as $365 Billion

 

October 11, 2008

 

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101003050.html

 


To me the problem was and maybe still is the idea of "too big to fail". If that's the case, an entity should not be permitted to get to that state. 

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Message 15 of 39

The best regulation for banks is to make the sale of mortgages from one bank to another ILLEGAL.  Right now banks are permitted to take risks because they can bundle up some good mortgages along with some bad mortgages (risky) and sell them to another bank. How many people have the same bank holding their mortgage 10 years in a row (not many)?  Years ago, this was never done and banks were very cautious making loans.

 

Yep, my mortgage went to three different banks over time. 

 

On top of that, banks were buying and selling derivatives, such as credit default swaps, supposedly to protect their mortgages. Estimates were $60 Trillion of credit default swaps. The government came to the rescue with bailouts. The Fed helped by buying those "toxic assets". From what I heard, the Fed has not yet unloaded all the toxic assets they were holding, and are still getting rid of them - little by little, and it is affecting the yield curve. Don't ask me to explain. I just heard someone put the words "yield curve" and "Fed unwinding" in the same sentence. 

 

Here's an article from October 8, 2008

 

"The $60 Trillion Nightmare of Credit Default Swaps"

 

https://seekingalpha.com/article/99027-the-60-trillion-nightmare-of-credit-default-swaps

 

and 

 

Lehman Credit-Default Swap Payout Could Climb as High as $365 Billion

 

October 11, 2008

 

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101003050.html

 

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Message 16 of 39

So do we all realize the amount of immoralities that goes in the business world in the USA and then you wonder as to why so many do not trust the government and feel that they are screwed by them all the time.

We have a government that does nothing for its  people that the people that we elect only are looking after themselves and in reality don't care about anyone else.

Hoe to deal with that.?

Simple, we still have the power of the vote, we still can vote for people that may change many of the rules. but we need to accomplish any of this by doing the proper research. and simply not voting for an specific party vote for the man or woman, forget the party.

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Message 17 of 39

@rker321 wrote:

RK  why do you have to blame "the liberals "  for whatever happens in this world.?don;t you think that more than the Liberals there are others that actually have as much blame?

I did say, "It was like many Liberal ideas - noble but naive". Do you disagree with that in regard to what I was talking about?

What has happened to your own posts and de deficit?

I have no idea what my own posts and de deficit means.

is that forgiven? now is not important. are you beinbg upset about your investments and assets in the market? do you really b elieve that we will recuperate?

How does any of that relate to what I posted about the housing bust?

 

It seems like you just had an urge to rant since none of your post related to my words. I discussed that with Rabbi Gonzalez and he said it is something that needs attention.


 

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Message 18 of 39

@KidBoy2said When we have a majority of posters calling Trump very name in the book and others giving them Kudos for doing so what would you call it?

What do you call it when The Donald calls SO MANY people nasty names., Leaders of Other Countries, Leaders of Our Country. He has called many people nasty names, is it OK, just because he's a so called President?

He deserves every nasty name he gets, because you get what you give.                                                                             IMO**********

Live For Today, No One is Guaranteed a TOMORROW !
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Message 19 of 39

@ChasKy53 wrote:

@rk9152 wrote:

@ManicProgressive wrote:

@rk9152 wrote:

@ManicProgressive wrote:

We generally get a recession of sorts every 10 years or so...and there is no evidence the President or Congress is trying to prevent or mitigate one...


That is a good point. The free market economy does have ebbs and flows and tends to self correct. The problem comes up when government interference thinks it can change nature (or put problems off to the next guy). A great example is the most recent crash that started with the collapse of the housing market. The housing market had been unnaturally inflated by government action.

 

A basic truth - the bigger the boom, the bigger the bust. So, it's best to let the market correct itself.


Nope. That’s false. The housing market crashed because of securitized mortgages. Private, free market actions. 


Nope, it's true. The boom got overheated by government actions to get people into homes they couldn't afford. The actions of Freddie and Fannie contributed quite a bit. Yes, the banks were involved but they were following government guidelines. 

 

It was like many Liberal ideas - noble but naive.


Securitized mortgages caused the crash. Banks need regulated, all finance and investment industries do.


The best regulation for banks is to make the sale of mortgages from one bank to another ILLEGAL.  Right now banks are permitted to take risks because they can bundle up some good mortgages along with some bad mortgages (risky) and sell them to another bank. How many people have the same bank holding their mortgage 10 years in a row (not many)?  Years ago, this was never done and banks were very cautious making loans.

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Message 20 of 39

From 1945 to 1975, worker's wages increased lock-step with the increases in worker productivity. The workers CONSUMED their raises, driving demand which drove production which led to more growth in the economy and we had ZERO serious economic downturns.

 

Since 1975, and entirely since 1985, increases in worker productivity have all gone to increasing the pay for the managers who did NOT increae consumption simply because their income already satisfied all their needs. Instead the income produced with the higher profits increased the WEALTH of the top 10%, with the vast majority of the growth in the top 1%.

 

From 1998 to 2001, the Government ran a SURPLUS, which had a serious unintended consequence. Our trade deficit had always been a good thing for America and Americans because we wound up with mountains of good stuff and the makers of the stuff wound up with ink portraits of Dead Americans.

 

Since 1984, those portraits were exchanged for US Bonds (promises to give the owner even more portraits in the future), BUT with a budget surplus, we weren't selling those bonds and the other countries went looking for a replacement.

 

Enter US home mortgages to the international "reserve currency" game. Those mountains of trade deficit dollars bought up all the available mortgages, and demanded more.

 

Enter the "sub-prime mortgage" - mortgages that should never have been written but since they were easy to resell, they were.

 

This was a double bonus to GOPerLords - it gave them a way to keep the negative aspects of a balanced budget from showing up, and it kept millions of American workers THINKING they were doing okay because they COULD get the home of their dreams, despite the fact their real income had flatlined back in 1976.

 

It took TWO YEARS of totally unrealistic buying and selling of worthless mortgages before the market finally had to admit the paper they trades was worthless and crash the World financial system along wit hthe American Economy.

 

President Obama signed legislation to keep another mortgage disaster from happening, but Republicans have been slalshing away those protections and allowing Wall Street to begin trading in the same worthless paper that brought on the last crash (they renamed the paper, but it's still Mortgage Backed Securities , Collateralized Debt Obligations, and sundry Derivatives. The GOPers also trashed all controls on health insurance, which has gone up nealry 50% in the last 4 years.

 

The Trump Depression will be bigger and longer lasting than the jrbvush Depression simply because the American People will not permit ANOTHER bailout of the banksters, which will totally destroy the financial system.

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