Is Maxine Waters really going to be the one to be the ranking Democrat on the House Financial Services Committee?
Would love to hear people's views on her candidacy for the role and what the implications might be, especially with regard to future financial reform.
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Is this a joke? lol
she is fucking dumb
Career politicians + no term limits = idiots on powerful committees
We get the government we deserve. He got re-elected after this btw. vvv
Holy crap...that is unbelievable. It's so stupid it looks doctored.
I don't think anything can beat this:
Congressman asks USPACOM Commander if stationing US weapons/troops on Guam will tip over and capsize the island. Poor Admiral Willard answers the question with a straight face.
Damn Ragnar, you beat me by a minute. Now I know not to be late for anything.
Haha great minds think a like.
Don't forget this classic by the one and only Sheila Jackson Lee-
http://www.dakotavoice.com/2010/07/rep-sheila-jackson-lee-we-won-vietna…
[quote=jon1987]Don't forget this classic by the one and only Sheila Jackson Lee-
http://www.dakotavoice.com/2010/07/rep-sheila-jackson-lee-we-won-vietna…]
Damnit, I hate this bitch more than maxine waters, and that's hard to do!
The smartest thing congress has done this year is agree to take power away from themselves.
Seems like all of the racist black congress people come from texas. Strange.
^^^haha, touche
Maxine Waters (Originally Posted: 10/13/2010)
Did anyone see this woman on Squawk Box this morning. She is insane. She wants to make it a law that anyone who is going into foreclosure must be offered a favorable refinancing plan. Her plan also includes mandatory reduction of principle for loans as well as a halt to any and all foreclosures immediately. She also said the fact that so many people were in foreclosure has nothing to do with irresponsible people but instead the banks were colluding in order to increase their number of loans. She later said that people are at risk of buying homes that they don't own because the titles to these homes were/are 'clouded'.
Did anyone else see this? Completely Surreal.
Ridiculous, this is what is KILLING this country
She's a dingbat but, unfortunately, she's not wrong on this one. We haven't even seen the tip of the iceberg yet on the "clouded" title issue. I'm gathering research as we speak so I can have something for you guys on this next week.
You, Matt Taibbi, and Drew Magary are probably my three favorite bloggers.
looking forward to it. Wish if someone could come up with some study that sizes up the "iceberg". how big of a hole it is? how deep we've seen it. A plain, simple english, easy to understand analysis of all the accumulated shit that gets lost somewhere between kramer and huffington posts' rants
I have no doubt there was industry greasing on this one regarding increasing loan numbers regardless of responsible loan practices or behaviors.
Regardless, the real estate market is still pretty well above its historical real asset value trendline relative to productivity in the US. That shit has to come down at some point. That said, there are political and social considerations at work as well, so while I don't entirely agree with her plan, there is some soundness in the premise. Societies generally do not handle extremely fast, rough transitions well, regardless of the long term benefits. Still, the moral hazard here is enormous.
People are complete morons. Who the fuck do they think owns stock in these banks? Gremlins or something. Lets kill the banks until people realize financials are a huge holding in their stock portfolio.
You buy a house you cannot afford, fine. Let it be foreclosed. Move on, albeit with damaged credit. You live, you learn. This forcing banks to take a write down on the mortgages and renegotiate terms is hogwash.
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