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Date: 11/18/10 06:00 AM

77 Responses to Ron Paul Addresses Congress About TSA

  1. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 18, 2010 at 5:49 am
    Link: Ron Paul Addresses Congress About TSA - The man who should have been president talks sanity to congress.
  2. Profile photo of meepmaker
    meepmaker Male 30-39
    6694 posts
    November 18, 2010 at 6:50 am
    Dont think Im gonna sit through that one.
  3. Profile photo of pmarren
    pmarren Male 40-49
    4575 posts
    November 18, 2010 at 6:53 am
    That was awesome. I think he`s right.
  4. Profile photo of ishkabibbles
    ishkabibbles Male 18-29
    155 posts
    November 18, 2010 at 7:17 am
    who gives a flying f*** about these security measures... I really don`t care if I get frisked or someone... *GASP*... TOUCHES ME. Get over it you whining kids.
  5. Profile photo of nubblins
    nubblins Female 18-29
    1743 posts
    November 18, 2010 at 7:18 am
    No.
  6. Profile photo of Geogypsy
    Geogypsy Female 18-29
    2546 posts
    November 18, 2010 at 7:23 am
    Stop being so submissive American public, it`s time for you to stand up and shout, "I am mad as hell and I`m not going to take it anymore!" :-P
    Way to go Ron Paul!
  7. Profile photo of ishkabibbles
    ishkabibbles Male 18-29
    155 posts
    November 18, 2010 at 7:25 am
    who gives a flying f*** about these security measures... I really don`t care if I get frisked or someone... *GASP*... TOUCHES ME. Get over it you whining kids.
  8. Profile photo of blckhawk1234
    blckhawk1234 Male 18-29
    518 posts
    November 18, 2010 at 7:47 am
    No way! drat libertarians.
  9. Profile photo of Demonunancer
    Demonunancer Female 18-29
    1 post
    November 18, 2010 at 7:47 am
    @ ishkabibbles, and to who anyone else doesn`t recognize the immediate dangers of such aggressive security measures... how can you not see where this is heading? your nonchalant attitude is really disturbing, it`s a serious issue because it`s an invasion of privacy. even symbolically it`s a sign that the government`s grip on whatever freedoms we have left, is tightening. i don`t know about you, but i think that`s kinda scary. we roll over with every law like this that`s passed... where is the line drawn?
  10. Profile photo of Axejst
    Axejst Male 30-39
    130 posts
    November 18, 2010 at 7:50 am
    You wanna see a naked picture or even feel my rapidly-approaching middle-age beer gut and soggy ass? Be my guest.

    You wanna try to convince me how safe I am becasue of it? Please kiss said soggy ass.
  11. Profile photo of Angelmassb
    Angelmassb Male 18-29
    15511 posts
    November 18, 2010 at 7:51 am
    American politics *yawn*
  12. Profile photo of DickenMcHunt
    DickenMcHunt Male 18-29
    1299 posts
    November 18, 2010 at 8:07 am
    Ron Paul is one of the few sane voices in American Politics. He`s not there for the sake of being there- he`s there as a representatives of united states citizens- human beings.
  13. Profile photo of Johnnyk123
    Johnnyk123 Male 18-29
    179 posts
    November 18, 2010 at 8:23 am
    I`m surprised Madest, I didn`t think you`d like someone who holds such conservative values to be president. No offense intended of course!

    Although I agree, Ron Paul should have been president. Here`s hoping for 2012.
  14. Profile photo of hwkiller
    hwkiller Male 18-29
    490 posts
    November 18, 2010 at 8:24 am
    @ishkabibbles,
    Seriously? Just because you don`t care doesn`t mean the vast majority of people don`t.

    1) The machines may be dangerous.
    2) Both options are rather uncomfortable for most individuals.

    Furthermore, regardless of myself, I really don`t want those machines and the people behind them seeing the naked bodies of my wife and kids. How is that right?

    How does this make us "safer?"
    While 3000 died on that day, 100s of thousands are now being personally violated by the government just so that they can travel. Before you say "it`s not violating," that`s bollucks. Just as Ron Paul said, if we had to be scanned or searched in areas outside of the airport, people would feel absolutely violated, and the offenders arrested.
    It`s not "safety" in the least. It`s the opposite, it`s just not the common "bad guy" that`s doing it.
  15. Profile photo of Shnard-dog
    Shnard-dog Male 30-39
    229 posts
    November 18, 2010 at 8:28 am
    Not sure that I come to the conclusion that Ron Paul talking about such a non-issue makes him sane. Does anyone else find it odd that of all the major issues facing the U.S. right now (unemployment, f-ed up healthcare system, insane amounts of debt, war, etc.) that he is up in arms over having his junk x-rayed and grabbed? That`s not exactly "sane" to me.
  16. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 18, 2010 at 8:29 am
    We should adopt the way EL AL does their checks, and their checks start when the airline ticket is bought not at the airport doors.

    The nude scanners and the groping has got to stop, This is America not a soviet gulag.
  17. Profile photo of Quackor
    Quackor Male 18-29
    2856 posts
    November 18, 2010 at 8:37 am
    enough is enough! TSA has no freaking right to do this. I will no longer allow those damn butt groping monkeys to take away my bombs, no wait, dignity! I meant dignity.
  18. Profile photo of zombunny
    zombunny Female 18-29
    2525 posts
    November 18, 2010 at 8:38 am
    "The man who should have been president"?

    Does IAB support white supremacists now?
  19. Profile photo of Cajun247
    Cajun247 Male 18-29
    10732 posts
    November 18, 2010 at 9:10 am
    I`m starting to like my representative.

    Couldn`t agree more CrakrJak.
  20. Profile photo of Cajun247
    Cajun247 Male 18-29
    10732 posts
    November 18, 2010 at 9:11 am
    @zombunny


    WTF RU smokin?
  21. Profile photo of green_btrfly
    green_btrfly Female 18-29
    751 posts
    November 18, 2010 at 9:24 am
    @hwkiller- don`t forget the $10,000 fine you get if you refuse both and try to walk out of the airport!

    I completly agree with you on every aspect.
    and @shnard-dog Ron Paul`s main focus is on our civil liberties, he is a constatutionalist, he believes we should start taking more control of our own lives and stop letting the government run every little detail of our society

    @zombunny- White supremacist? please. Next you`ll be telling meObama really isa terrorist, and George Bush conspired 911 as an inside job. Don`t believe everything you read and hear. By the way, just because you have racists supporters doesn`t mean you are racist. I`m sure KKK members like allkinds of music, does that make that music racist and bad? I don`t think so.

    Ignorance is not bliss people, educate yourselves!
  22. Profile photo of ForAllThSin
    ForAllThSin Male 18-29
    273 posts
    November 18, 2010 at 9:24 am
    @zombunny

    dumba$$
  23. Profile photo of IseeingI2I
    IseeingI2I Male 18-29
    271 posts
    November 18, 2010 at 9:30 am
    @shnard so if i groped you and performed a cavity search you would be perfectly fine with that you wouldn`t feel violated of your rights or if i took nude black and whites of you you really wouldnt care if i basically fisted you because you declined those nude pictures would you be focused on unemployment and healthcare or a dude fisting you? and as far as debt stopping these insane "security policies" would assist with debt and probably make everyone feel healthier as well

    and @zombunny think on your own and dont listen to ONLY liberal news listen to both learn to filter the garbage from both sides and most of all dont be a tool
  24. Profile photo of dilleydalley
    dilleydalley Male 18-29
    4 posts
    November 18, 2010 at 9:34 am
    Not sure I understand why he should be president. He is clearly just another dumb right wing Texan. Checking people who are getting on a plane to see if they have bombs seems like common sense to me. I am totally fine with a pat down for everyone getting on a plane :D
  25. Profile photo of MyJobSucks
    MyJobSucks Male 18-29
    177 posts
    November 18, 2010 at 9:37 am
    The man is right about so many things. The government has us under its thumb - it`s really sad. People in this damn country need to start listening to Rage Against The Machine, get pissed off, and take f***ing action.
  26. Profile photo of Volsunga
    Volsunga Male 18-29
    1548 posts
    November 18, 2010 at 9:39 am
    In defense of sanity, the machines ARE NOT dangerous in any way, shape, or form. They are designed so that the radiation is reflected by the top layer of epidermis, the one that`s already dead cells. If they went deep enough to be dangerous, it would defeat the purpose. The scanners are a necessary part of modern security.

    That being said, the TSA`s policies on deciding who gets scanned are not making us any safer. It`s understandable why they do it, they need to look like they are doing something so if something happens, they can`t be blamed. There are specific profiles, both racial and psychological, that can identify likely suspects. But then again, if they actually made use of them, scans would be rare, but everyone who got scanned would sue.

    The real problem is that the American people have created a situation where this is the most cost-effective option for the TSA.
  27. Profile photo of Shnard-dog
    Shnard-dog Male 30-39
    229 posts
    November 18, 2010 at 9:55 am
    @IseeingI2I - Have you been on a plane lately? Do you really think they`re "fisting" people at the security checks? I actually agree with you that things are getting out of hand in terms of the security measures and of course these machines need to be safe and they shouldn`t be storing nude images of people. However, I don`t think the fact that people are having to get patted down and x-rayed before getting on a plane ranks up there with some of the bigger issues.
  28. Profile photo of kingpong
    kingpong Male 18-29
    639 posts
    November 18, 2010 at 9:58 am
    Is it cool if I listen to Rise Against instead of RATM? I never liked rap-rock too much.
  29. Profile photo of Rubn_Tizzub
    Rubn_Tizzub Male 30-39
    88 posts
    November 18, 2010 at 10:47 am
    The only way to make sure nobody has anything to hide is make us all fly nude. Just turn up the heat in the cabins okay?
  30. Profile photo of slugs
    slugs Male 30-39
    357 posts
    November 18, 2010 at 10:59 am
    I think we should be patted down and frisked at regular intervals each and every day. The government should watch everything we do at all times. I don`t want something to be unequal, so this is the only way.
  31. Profile photo of zombunny
    zombunny Female 18-29
    2525 posts
    November 18, 2010 at 11:02 am
    @zombunny- White supremacist? please. Next you`ll be telling meObama really isa terrorist, and George Bush conspired 911 as an inside job. Don`t believe everything you read and hear. By the way, just because you have racists supporters doesn`t mean you are racist. I`m sure KKK members like allkinds of music, does that make that music racist and bad? I don`t think so.

    If you`re accepting campaign support from them, it means at the very least you condone their behavior. So yeah, it pretty much makes you one of them.
  32. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 18, 2010 at 11:07 am
    I`m a Ron Paul realist. His smaller government / fewer regulations credo would be more appealing had Wall St. not stolen everyones 401k. But I stand with Ron Paul and his desire to significantly reduce military spending by closing bases the world over. My skin crawled recently when Obama promised S. Korea that America would never abandon them, thereby committing my tax dollars to a nation I couldn`t care less about.
  33. Profile photo of button_guy
    button_guy Male 18-29
    171 posts
    November 18, 2010 at 11:11 am
    What about skin cancer, Volsunga?
  34. Profile photo of Ches47
    Ches47 Male 18-29
    302 posts
    November 18, 2010 at 11:20 am
    He is very obnoxious.
  35. Profile photo of IseeingI2I
    IseeingI2I Male 18-29
    271 posts
    November 18, 2010 at 11:36 am
    @shnard have you seen this supposed "X-ray" of yours it doesnt just show your skeleton it also shows you in all of your birthday suit glory and i may have went overboard with fisting but they do search every orifice of your body if you decline to have your nude 3d image x ray image and magnetic image taken and even then some of the machines are not 100% safe what if you were flying home to make love to your wife and out popped mutant baby because of those scanners you got scanned by hours earlier
    AND
    @zombunny by your logic obama hates white men because he accepted campaign support from other white hating black men do you believe this true because if not that makes you a hypocrite and no one likes a hypocrite

    and im not saying ron pauls entire campaign is correct but this particular argument is the best thing ive heard in politics in a long time
  36. Profile photo of Shnard-dog
    Shnard-dog Male 30-39
    229 posts
    November 18, 2010 at 11:48 am
    IseeingI2I - Not sure what the angry tone is about, but like I said before, I think the measures have gone too far, I was questioning whether this is a worthy topic of discussion given all of the bigger issues out there. Relax!
  37. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    November 18, 2010 at 11:57 am
    I`m a Ron Paul realist. His smaller government / fewer regulations credo would be more appealing had Wall St. not stolen everyones 401k.
    madest, you just proved that you don`t have the slightest understanding of Ron Paul or Wall Street. The financial meltdown is a direct result of the government regulations Paul opposes, not a result of a lack thereof. Here`s how it all went down.

    1 CRA forced banks to make bad loans greatly increasing demand for housing, driving up real estate prices creating an unsustainable bubble.

    2 Fanny & Freddy bought those bad loans and sold them to Wall Street with a very high rate of return and an implied government guarantee.

    3 The bad loans went into default, real estate prices dropped causing more loans to default causing real estate prices do drop further causing even more loans to default...

    Government regulations caused the crash. More government isn`t the answer. It never is.
  38. Profile photo of duffytoler
    duffytoler Male 40-49
    5195 posts
    November 18, 2010 at 12:15 pm
    Go Ron! Land of the sheep and the home of the groped - %&$#@!!!
    ABOLISH THE TSA.
    FIRE PISTOLE.
    FIRE PISTOLE.
    FIRE PISTOLE.
  39. Profile photo of Solvent
    Solvent Male 18-29
    2842 posts
    November 18, 2010 at 12:22 pm
    Since when did c-span become interesting?
  40. Profile photo of Baalthazaq
    Baalthazaq Male 18-29
    4548 posts
    November 18, 2010 at 12:36 pm
    Oldollie:

    congratulations, you have described 20% of the problem. Care to be honest about the other 80%? (I`ll give you clue, the FBI`s white collar crime department disagrees with all your assertions).
  41. Profile photo of mrpuddle
    mrpuddle Male 18-29
    385 posts
    November 18, 2010 at 12:37 pm
    Ron Paul For President!
  42. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    November 18, 2010 at 12:43 pm
    (I`ll give you clue, the FBI`s white collar crime department disagrees with all your assertions).
    Let`s see...a GOVERNMENT agency trying to prove that the whole mess wasn`t the fault of the GOVERNMENT?

    "Nothing to see here. No conflict of interest. Move along, move along..."
  43. Profile photo of Fatninja01
    Fatninja01 Male 30-39
    25420 posts
    November 18, 2010 at 12:44 pm
    wow, i not an american but it is odd to have the politicians making sense!
  44. Profile photo of Sinclair
    Sinclair Male 30-39
    269 posts
    November 18, 2010 at 12:52 pm
    I think thats the guy that also refused to let "Bruno" (Sasha Cohen) grope him!
  45. Profile photo of gamergrl1018
    gamergrl1018 Female 13-17
    106 posts
    November 18, 2010 at 12:55 pm
    Ron Paul! Ron Paul! Ron Paul! Initiate Congress groping process!
  46. Profile photo of duffytoler
    duffytoler Male 40-49
    5195 posts
    November 18, 2010 at 2:30 pm
    FIRE PISTOLE.
  47. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 18, 2010 at 2:52 pm
    OldOllie, You`re overlooking Wall St. Banks committed fraud on the American public by handing out NINJA loans (No Income, No Job or Assets). Hell they were giving out million dollar loans to asshats who thought they could flip the thing. Banks did that because AIG conned the world by insuring toxic assets. So before you point the finger at my ignorance, perhaps you should turn off FoxNews and read a book on the subject. I`d suggest, After the Fall: Saving Capitalism from Wall Street and Washington by Nicole Gelinas
  48. Profile photo of Ogen
    Ogen Male 18-29
    441 posts
    November 18, 2010 at 3:33 pm
    Uhh... I don`t see Ron Paul in this video...
  49. Profile photo of SmilinSam
    SmilinSam Female 18-29
    3599 posts
    November 18, 2010 at 3:44 pm
    umm... i think the video is broken? it is only lettin me watch like 3:00- 3:04
  50. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 18, 2010 at 3:49 pm
    madest: Foxnews and it`s reporters have pointed out the fraudulent loans by Fannie Mae, Freddie Mac, and others for several years now, Long before the housing crash Fox News was reporting on the fact that the regulators were being told by congress to shut up about the problem. GW Bush is on the record warning about the bad loans 18 times before the crash.
  51. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 18, 2010 at 3:57 pm
    Just One of several videos that prove my point.
  52. Profile photo of Ogen
    Ogen Male 18-29
    441 posts
    November 18, 2010 at 4:04 pm
    @CrakrJak any opinion that Fox News expresses proves absolutely nothing. I don`t think many people trust them as a news source at all, being that they alter the truth to fit what they want to say all the time.

    Not that I`m involved in this... uh... debate thing? I was just mildly reading it while I waited for them to fix the link so I can see whatever Ron Paul said.

    A different video one not from Fox would probably be a little more trusted.
  53. Profile photo of jtrebowski
    jtrebowski Male 40-49
    3359 posts
    November 18, 2010 at 4:24 pm
    No one seems to give a crap how RuPaul thinks nothing of flattening mountaintops, drilling 650 toxic chemicals in the water table to extract nat. gas, thought we were too hard on BP for wanting them to take responsibility for the gulf spill, wants to eliminate the FDA, and generally doesn`t give a flying fark about public education, and you people want Americans to take you seriously? Lunatic Cons.
  54. Profile photo of jtrebowski
    jtrebowski Male 40-49
    3359 posts
    November 18, 2010 at 4:29 pm
    People seem to forget that it was the right-wing that cracked down in the name of national security. If they really wanted security, they would`ve hired college educated military and police types to handle it, rather than a bunch of pimply-faced barely-graduated high-school kids, and old ladies who used to be crossing guards. C`mon, people. Get real!
  55. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 18, 2010 at 4:35 pm
    Foxnews and it`s reporters have pointed out the fraudulent loans by Fannie Mae, Freddie Mac, and others for several years now
    --------------
    Clearly you have no clue as to what FM & FM do. They don`t make loans, they buy and sell first time mortgages from banks. Come back at me when FoxNews tells you how to respond to that.
  56. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 18, 2010 at 4:56 pm
    madest: I didn`t say that Fannie and Freddie sold the loans, I meant that they were involved in fraudulent loans. Sorry if that wasn`t as exactly precise as to meet your standards.

    Fannie and Freddie `securitized` mortgages in the form of mortgage-backed securities. They bought mortgages from banks and turned them into securities, Backed by the full faith and credit of the US government. On pressure from Pres. Bill Clinton they eased their credit requirements enabling `subprime` borrowers to get loans (Many of whom couldn`t afford them) at higher than usual interest rates.
  57. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 18, 2010 at 4:59 pm
    Now let`s get back on the subject of the TSA checkpoint scanners and groping, Please.
  58. Profile photo of Volsunga
    Volsunga Male 18-29
    1548 posts
    November 18, 2010 at 7:54 pm
    @button_guy
    Dead skin can`t get cancer. Cancer requires cells to reproduce. Being dead, they can`t do that. The radiation is reflected by a layer that is made up of only dead cells. Therefore, it can`t cause cancer.
  59. Profile photo of murph89
    murph89 Male 18-29
    84 posts
    November 18, 2010 at 8:02 pm
    The video is at 2:37, go here for the actual c-span site.
  60. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    November 18, 2010 at 8:05 pm
    OldOllie, You`re overlooking Wall St. Banks committed fraud on the American public by handing out NINJA loans (No Income, No Job or Assets).
    madest, nobody gets a home loan, NINJA or otherwise, from "Wall Street." Most of those loans came from local banks who were forced to lower their standards by CRA. The banks unloaded those bad loans to Fannie and Freddy who encouraged them to make even more bad loans. Fannie and Freddy bundled those loans and sold them to Wall Street investment bankers with a high rate of return, usually 7% or more, and an implied government guarantee. Wall Street was dubious, so they bought insurance from AIG to cover their asses if the loans went bad. When the loans went bad, AIG didn`t have the reserves to pay off the claims.

    Maybe should have let them take their lumps, but the fact is, the government made us a giant $#!+ sandwich, and one way or the other, we were going to have to eat it.
  61. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    November 18, 2010 at 8:13 pm
    And if you want a REALLY good book on the subject try The Housing Boom and Bust by Thomas Sowell.

    The first review on that page provides a good synposis.
  62. Profile photo of jtrebowski
    jtrebowski Male 40-49
    3359 posts
    November 18, 2010 at 8:24 pm
    Crakrjak said: "Now let`s get back on the subject of the TSA checkpoint scanners and groping, Please."

    Nah...we`re good. The ACLU is already looking into it.
  63. Profile photo of handys003
    handys003 Male 50-59
    2402 posts
    November 19, 2010 at 12:12 am
    Sanity in Congress!? Now why can`t congress just make everyone happy!
  64. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 19, 2010 at 6:46 am
    OldOllie, You talk in circles. First you blame the CRA, then you blame FM&FM and then say it`s due to regulations. Fact is FM&FM, the CRA and regulations didn`t force AIG to invent "credit default swaps". They insured toxic assets which was the cause of the housing bubble. AIG in essence made bad loans worth more than good loans and the fix for Wall Street was in. Banks jumped on the money making bandwagon and committed fraud on the American populace. The entire worlds economy was F-d by Wall St and their manipulation of the market. Fewer regulations are exactly what these dogs require to steal us blind and you are their patsy because you refuse to educate yourself.
  65. Profile photo of kilroy5555
    kilroy5555 Male 30-39
    496 posts
    November 19, 2010 at 8:00 am
    OldOllie is right. Banks didn`t just wake up one day and start creating toxic loans for no reason. The financial crisis began with yet another well-intentioned government program to combat redlining and other practices viewed as discriminatory lending by banks. The explicit goal of the policy was to get banks to lower their lending standards even if it meant making more risky loans in the process. Banks were assigned a score based on the number of bad loans they made, and were punished if enough bad loans were not made. Community activist groups (ACORN amongst others) were empowered to sue banks for not issuing enough risky loans. CDOs were created and used to make money off of poisonous assets, and Wall Street did go too far, but the whole crises is rooted in the government f****** with the market for the "greater good". Bottom line: no CRA, no housing bubble, no financial crisis.

  66. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 19, 2010 at 10:22 am
    kilroy555, Another FoxNews economist. Banks didn`t create toxic loans. No such thing. AIG made "Toxic assets" (defaulted mortgages) worth more than good mortgages. Eeyeyeye eeeesh what are they selling you at Fox? ACORN did it! Simpletons, the lot of you.
    The Community Re-investment Act was born in 1977 so by your calculations they laid low for a quarter of a century so they could ruin the economy in 2003?
    Black people didn`t ruin the economy no matter how many ways FoxNews tries to convince you otherwise. Get educated, man.
  67. Profile photo of Damon5150
    Damon5150 Male 18-29
    9 posts
    November 19, 2010 at 10:35 am
    Madest, even though you are making good points, you should probably educate yourself as well. Maybe take a communication class, or psychology. You MIGHT learn that the way you present your case, and the way you speak to those that you disagree with says far more than your facts. Talking down to others rather than simply stating your side is not the way to get things done. Educate yourself on basic human interaction, you "simpleton". (see what I did there?) And for the record, where AIG and others cause the bulk of the problems, the government programs are not helping the situation by forcing money out. Not saying it is the entire problem because I know better, but that doesn`t mean you shouldn`t address all aspects of the problem, not just the one you feel is most important. Maybe point out that the American people BOUGHT MORE THAN THEY COULD AFFORD.There are many pieces to the puzzle, don`t be so closed minded.
  68. Profile photo of madest
    madest Male 40-49
    7378 posts
    November 19, 2010 at 10:56 am
    Certainly banks took advantage of Americas dumb people but that doesn`t account for the many million dollar mortgages that went into default. I know people like OldOllie and Kilroy who only know what they`re told and the people who tell them are racist. FoxNews has a large audience convinced that black people are the cause of our financial problems. ACORN did it! CRA did it! And these (yes simpletons) take the bait as if it were filet mingon served on a silver platter. When the truth is Ivy league educated white people who run Wall St. committed a massive fraud and none of them will do a minute of time.
  69. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    November 19, 2010 at 11:58 am
    Yes, CRA was passed in 1977 (under Carter and the Dems.), but it was the Clinton admin. that stepped up enforcement and got the sub-prime (toxic asset) ball rolling. In order to keep it rolling, FM&FM bought up the bad loans so the banks keep making bad loans. FM&FM bundled and resold those toxic loans to Wall St. as government-backed securities with above-market rates of return so they could keep buying more bad loans.

    If this had never happened, there would not have been a financial meltdown. The fact that it DID happen made the collapse inevitable. No regulation of Wall St. could have stopped it. The toxic assets had already been created; it was now just a question of who would be holding the bag when the $#!+ hit the fan.

    Now, whether the government should have stepped in and bailed out some -- but not all -- of the losers is a question that will be debated for decades to come. But the indisputable fact remains: government regulation caused it.
  70. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    November 19, 2010 at 1:13 pm
    madest: Democrats did it, Clinton pressured them to loosen the requirements and the Democrat congressmen covered it up, While taking campaign donations from the bankers perpetrating the fraud.
    Obama hired Timothy Geithner and Hank Paulson, Both of them from Goldman Sachs, For his cabinet. Both of them profited from those fraudulent loans while employed at Goldman Sachs, Then helped orchestrate the bailouts that benefited Goldman Sachs.
  71. Profile photo of kilroy5555
    kilroy5555 Male 30-39
    496 posts
    November 19, 2010 at 2:27 pm
    Clearly Madest hasn`t heard the Obama interview where he states that the CRA started with a noble purpose, but that things started getting out of control once banks started doling out loans like candy. Or the video where Andrew Cuomo says that successfully implementing housing policy will mean that banks have to take on more risk, which is a necessary thing to end discriminatory lending practices.

    I don`t need Fox News when I get it straight from the horse`s mouth.

    When I say "Toxic Loans", I mean subprime loans which should never have been made by banks. These loans were bundled into mortgage backed securities and sold to investors. It was only after the mortgages underlying the mortgage backed securities started going belly-up that the investment assets actually became "toxic". Before they became "toxic", I suppose you might call them time bombs. Semantics.
  72. Profile photo of kilroy5555
    kilroy5555 Male 30-39
    496 posts
    November 19, 2010 at 2:34 pm
    And it`s not over yet. The fact that so many more loans were originated meant that many more people could "afford" to buy houses. Which means that housing demand (and prices)skyrocketed before the collapse.

    Now the number of people living in houses they`re not paying for is beyond the capacity of banks` foreclosure processes to handle. I doubt the market`s going to bottom out until all those toxic mortgages have been processed out of the market one way or the other.
  73. Profile photo of kilroy5555
    kilroy5555 Male 30-39
    496 posts
    November 19, 2010 at 2:36 pm
    And OldOllie, I think our regulatory system was set up to ENCOURAGE these loans being made by banks. Why would politicians step in on the other side and shake their finger at Wall St for repackaging all the toxic loans they were encouraging banks to make, especially since you`re oftentimes speaking of different divisions of the same institution.
  74. Profile photo of kylegritchie
    kylegritchie Male 18-29
    20 posts
    November 19, 2010 at 2:56 pm
    Broken!!!!!!! link
  75. Profile photo of DMoneys36
    DMoneys36 Male 13-17
    221 posts
    November 19, 2010 at 7:10 pm
    The video wouldn`t load for me, versionhere`s a page with the youtube player
  76. Profile photo of furryblob
    furryblob Male 18-29
    574 posts
    November 20, 2010 at 9:21 am
    I can only agree with this guy about half the time. The rest of the time he just comes across as a heartless no-nothing libertarian.
  77. Profile photo of gbrzeatetee
    gbrzeatetee Male 30-39
    174 posts
    November 23, 2010 at 11:57 am
    So Ron Paul wants to replace the TSA with a private corp. gg.

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