It's really not as simple as that.JohnG@lt wrote:
Boats can freely move about the ocean... They can fish elsewhere, just like the IT guys rdx mentioned more than likely had to pack up and move to work elsewhere...Spark wrote:
Adapt to what? Trying to catch imaginary fish?
What you really mean is that a clueless politician didn't stick his nose in something he doesn't understand and allowed the professionals to deal with it themselves? You should be rejoicing about this. Who understands the situation better, the people that drill wells every day, or a lawyer who has spent the last 20 years shaking hands for a living?Kmarion wrote:
oops missed the first part.Kmarion wrote:
They do, and it depends.. state laws. Florida law bans drilling within 125 miles of the Florida coast.Harmor wrote:
Does the Obama administration really have an incentive to fix this? Unlike other deasters this has an evil oil company to blame and an entire industry to regulate. To me its a win for Obama the longer this goes.
Also why are we drilling in 1 mile deep waters (plus another 5 miles)? Why can't we drill closer to shore? I would think it would be easier, cheaper, and safer to drill in shallower waters.
Cali on the other hand.
http://img265.imageshack.us/img265/4296 … lling2.jpg
Do you remember Obama had just spoken on expanding offshore drilling before this? He has incentive, because he has pie in the face... but lets be honest. What politician Dem or Rep would want to get involved? As soon as they do they are claiming responsibility for everything else that happens. It takes balls and none of them have it.The U.S. official leading the response to the Gulf of Mexico oil spill said Sunday that only BP had the expertise to plug the gaping hole in its deepwater well and that he trusted the oil company was doing its best
My brother explained what went wrong days before the media figured it out I trust him and the people in his industry to do their jobs to the best of their ability. This was an unfortunate accident that probably wouldn't have happened if the Deepwater Horizon didn't have a bunch of industry execs on board witnessing the capping and making the crew nervous Everyone does stupid shit when they're under their bosses eye.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
Well, that and Obama received a lot of money from BP for his campaign.Kmarion wrote:
oops missed the first part.Kmarion wrote:
They do, and it depends.. state laws. Florida law bans drilling within 125 miles of the Florida coast.Harmor wrote:
Does the Obama administration really have an incentive to fix this? Unlike other deasters this has an evil oil company to blame and an entire industry to regulate. To me its a win for Obama the longer this goes.
Also why are we drilling in 1 mile deep waters (plus another 5 miles)? Why can't we drill closer to shore? I would think it would be easier, cheaper, and safer to drill in shallower waters.
Cali on the other hand.
http://img265.imageshack.us/img265/4296 … lling2.jpg
Do you remember Obama had just spoken on expanding offshore drilling before this? He has incentive, because he has pie in the face... but lets be honest. What politician Dem or Rep would want to get involved? As soon as they do they are claiming responsibility for everything else that happens. It takes balls and none of them have it.The U.S. official leading the response to the Gulf of Mexico oil spill said Sunday that only BP had the expertise to plug the gaping hole in its deepwater well and that he trusted the oil company was doing its best
A true demonstration of balls would be to heavily regulate all other offshore operations and ban all future offshore drilling for at least the next decade. This incident has clearly shown that a moratorium is needed.
Of course it's not. People tie themselves down with homes, they have their kids in school to worry about etc. It's the exact same thing people in other industries go through when they lose their livelihood though. Move or starve.Jaekus wrote:
It's really not as simple as that.JohnG@lt wrote:
Boats can freely move about the ocean... They can fish elsewhere, just like the IT guys rdx mentioned more than likely had to pack up and move to work elsewhere...Spark wrote:
Adapt to what? Trying to catch imaginary fish?
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
Clearly, the oil companies have been clueless in this as well.JohnG@lt wrote:
What you really mean is that a clueless politician didn't stick his nose in something he doesn't understand and allowed the professionals to deal with it themselves? You should be rejoicing about this. Who understands the situation better, the people that drill wells every day, or a lawyer who has spent the last 20 years shaking hands for a living?
I don't trust the oil industry anymore than I trust drug cartels. The only difference is that oil companies have a legal market for an addictive product.JohnG@lt wrote:
My brother explained what went wrong days before the media figured it out I trust him and the people in his industry to do their jobs to the best of their ability. This was an unfortunate accident that probably wouldn't have happened if the Deepwater Horizon didn't have a bunch of industry execs on board witnessing the capping and making the crew nervous Everyone does stupid shit when they're under their bosses eye.
Did you watch the video I posted earlier in this thread?Turquoise wrote:
Well, that and Obama received a lot of money from BP for his campaign.Kmarion wrote:
oops missed the first part.Kmarion wrote:
They do, and it depends.. state laws. Florida law bans drilling within 125 miles of the Florida coast.
Cali on the other hand.
http://img265.imageshack.us/img265/4296 … lling2.jpg
Do you remember Obama had just spoken on expanding offshore drilling before this? He has incentive, because he has pie in the face... but lets be honest. What politician Dem or Rep would want to get involved? As soon as they do they are claiming responsibility for everything else that happens. It takes balls and none of them have it.The U.S. official leading the response to the Gulf of Mexico oil spill said Sunday that only BP had the expertise to plug the gaping hole in its deepwater well and that he trusted the oil company was doing its best
A true demonstration of balls would be to heavily regulate all other offshore operations and ban all future offshore drilling for at least the next decade. This incident has clearly shown that a moratorium is needed.
Xbone Stormsurgezz
I was referring more to the idea they can just go fish somewhere else. An oil spill of this magnitude has a lot of repercussions, one of which is how it affects biological feedback mechanisms.JohnG@lt wrote:
Of course it's not. People tie themselves down with homes, they have their kids in school to worry about etc. It's the exact same thing people in other industries go through when they lose their livelihood though. Move or starve.Jaekus wrote:
It's really not as simple as that.JohnG@lt wrote:
Boats can freely move about the ocean... They can fish elsewhere, just like the IT guys rdx mentioned more than likely had to pack up and move to work elsewhere...
You're talking about the Hendrie clip, right?Kmarion wrote:
Did you watch the video I posted earlier in this thread?Turquoise wrote:
Well, that and Obama received a lot of money from BP for his campaign.Kmarion wrote:
oops missed the first part.Kmarion wrote:
They do, and it depends.. state laws. Florida law bans drilling within 125 miles of the Florida coast.
Cali on the other hand.
http://img265.imageshack.us/img265/4296 … lling2.jpg
Do you remember Obama had just spoken on expanding offshore drilling before this? He has incentive, because he has pie in the face.
.. but lets be honest. What politician Dem or Rep would want to get involved? As soon as they do they are claiming responsibility for everything else that happens. It takes balls and none of them have it.
A true demonstration of balls would be to heavily regulate all other offshore operations and ban all future offshore drilling for at least the next decade. This incident has clearly shown that a moratorium is needed.
Yea.. regulate it like the nuclear industry.
Xbone Stormsurgezz
Jesus christ, get off your high horse. You drive a car don't you?Turquoise wrote:
Clearly, the oil companies have been clueless in this as well.JohnG@lt wrote:
What you really mean is that a clueless politician didn't stick his nose in something he doesn't understand and allowed the professionals to deal with it themselves? You should be rejoicing about this. Who understands the situation better, the people that drill wells every day, or a lawyer who has spent the last 20 years shaking hands for a living?I don't trust the oil industry anymore than I trust drug cartels. The only difference is that oil companies have a legal market for an addictive product.JohnG@lt wrote:
My brother explained what went wrong days before the media figured it out I trust him and the people in his industry to do their jobs to the best of their ability. This was an unfortunate accident that probably wouldn't have happened if the Deepwater Horizon didn't have a bunch of industry execs on board witnessing the capping and making the crew nervous Everyone does stupid shit when they're under their bosses eye.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
I will as soon as you stop coming up with unrealistic excuses for the greed and negligence of big business.JohnG@lt wrote:
Jesus christ, get off your high horse. You drive a car don't you?Turquoise wrote:
Clearly, the oil companies have been clueless in this as well.JohnG@lt wrote:
What you really mean is that a clueless politician didn't stick his nose in something he doesn't understand and allowed the professionals to deal with it themselves? You should be rejoicing about this. Who understands the situation better, the people that drill wells every day, or a lawyer who has spent the last 20 years shaking hands for a living?I don't trust the oil industry anymore than I trust drug cartels. The only difference is that oil companies have a legal market for an addictive product.JohnG@lt wrote:
My brother explained what went wrong days before the media figured it out I trust him and the people in his industry to do their jobs to the best of their ability. This was an unfortunate accident that probably wouldn't have happened if the Deepwater Horizon didn't have a bunch of industry execs on board witnessing the capping and making the crew nervous Everyone does stupid shit when they're under their bosses eye.
Absolutely.Kmarion wrote:
Yea.. regulate it like the nuclear industry.
Last edited by Turquoise (2010-05-23 15:10:33)
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not. when your company makes money YOU make money. Your company would not have hired you if you brought nothing to the table that helps the company make money. You think big business is supposed to provide jobs for the sake of providing jobs or out of the goodness of their hearts. That isn't how it works. They exploit a workforce and we ride their coat tails of profitablity with our skill sets. Or is this where you, like Veragg is going to tell me you don't care about money or making more of it?Turquoise wrote:
I will as soon as you stop coming up with unrealistic excuses for the greed and negligence of big business.JohnG@lt wrote:
Jesus christ, get off your high horse. You drive a car don't you?Turquoise wrote:
Clearly, the oil companies have been clueless in this as well.JohnG@lt wrote:
What you really mean is that a clueless politician didn't stick his nose in something he doesn't understand and allowed the professionals to deal with it themselves? You should be rejoicing about this. Who understands the situation better, the people that drill wells every day, or a lawyer who has spent the last 20 years shaking hands for a living?
I don't trust the oil industry anymore than I trust drug cartels. The only difference is that oil companies have a legal market for an addictive product.Absolutely.Kmarion wrote:
Yea.. regulate it like the nuclear industry.
Wtf does greed have to do with this oil spill?Turquoise wrote:
I will as soon as you stop coming up with unrealistic excuses for the greed and negligence of big business.JohnG@lt wrote:
Jesus christ, get off your high horse. You drive a car don't you?Turquoise wrote:
Clearly, the oil companies have been clueless in this as well.
I don't trust the oil industry anymore than I trust drug cartels. The only difference is that oil companies have a legal market for an addictive product.
My brother explained it to me quite well. When they're set to cap off a well, they fill the drill pipe with concrete, which sinks down through the drilling mud that they use to displace the sea water and oil. When the concrete hardens, it forms a plug and the well is capped. Then they bring in an extraction rig somewhere down the road, drill through the plug and free the oil for pumping. In the case of the Deepwater Horizon, they emptied the drill pipe of drilling mud before pouring in the concrete and replaced it with sea water. Since oil, and especially natural gas, is lighter than water, it came pouring out of the well up through the pipe and forced the water out in front of it destroying all electronics on deck, including the 'deadmans switch'. Natural gas formed pools on deck since it is heavier than air and was sparked which produced the explosion and sank the rig.
They made one mistake in the entire grand scheme of things which was dumping the drilling mud before the cap set. Why they did that I don't know. Maybe the Captain or the drilling mate were trying to impress his boss with the speed of the job. We'll find out at the inquest for the Captain and the drilling mate is dead so he'll keep his secrets.
Nowhere in this entire equation do I see anything caused by greed. We need oil to sustain our way of life, they pump oil for a living. What exactly is wrong with this? It's also quite ridiculous that BP is getting hammered so hard because one of the crew members on a sub-contracted vessel made the wrong decision... but that's another topic. As with all things when blame is being thrown around, it's the man standing there with the deepest pockets that will get the lions share from the herd of jackals we call trial lawyers.
Last edited by JohnG@lt (2010-05-23 15:21:17)
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
When did I say it wasn't? The very fact of this makes regulation necessary, because negligence can often lead to short term profit. Of course, it can also lead to disasters, as BP has found out the hard way.lowing wrote:
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not.
Never did I deny this, lowing. All I'm saying is that this motivation necessitates regulation.lowing wrote:
when your company makes money YOU make money. Your company would not have hired you if you brought nothing to the table that helps the company make money. You think big business is supposed to provide jobs for the sake of providing jobs or out of the goodness of their hearts. That isn't how it works. They exploit a workforce and we ride their coat tails of profitablity with our skill sets. Or is this where you, like Veragg is going to tell me you don't care about money or making more of it?
Everything. Cutting corners = more short term profitJohnG@lt wrote:
Wtf does greed have to do with this oil spill?
It's not ridiculous at all. This disaster shows us that the government didn't properly regulate BP beforehand, and BP didn't do the necessary maintenance or use the proper amount of caution.JohnG@lt wrote:
My brother explained it to me quite well. When they're set to cap off a well, they fill the drill pipe with concrete, which sinks down through the drilling mud that they use to displace the sea water and oil. When the concrete hardens, it forms a plug and the well is capped. Then they bring in an extraction rig somewhere down the road, drill through the plug and free the oil for pumping. In the case of the Deepwater Horizon, they emptied the drill pipe of drilling mud before pouring in the concrete and replaced it with sea water. Since oil, and especially natural gas, is lighter than water, it came pouring out of the well up through the pipe and forced the water out in front of it destroying all electronics on deck, including the 'deadmans switch'. Natural gas formed pools on deck since it is heavier than air and was sparked which produced the explosion and sank the rig.
They made one mistake in the entire grand scheme of things which was dumping the drilling mud before the cap set. Why they did that I don't know. Maybe the Captain or the drilling mate were trying to impress his boss with the speed of the job. We'll find out at the inquest for the Captain and the drilling mate is dead so he'll keep his secrets.
Nowhere in this entire equation do I see anything caused by greed. We need oil to sustain our way of life, they pump oil for a living. What exactly is wrong with this? It's also quite ridiculous that BP is getting hammered so hard because one of the crew members on a sub-contracted vessel made the wrong decision... but that's another topic. As with all things when blame is being thrown around, it's the man standing there with the deepest pockets that will get the lions share from the herd of jackals we call trial lawyers.
This is also turning out to be one of the worst man made disasters of all time. That certainly earns all of the contempt they're getting, if not a whole lot more.
What is ridiculous, however, is when people mistakenly defend a corporation out of some naive principle of laissez faire government.
Im sorry I coulda swore you were condmening big business as being greedy, (IE thinks of making money.) as a bad thing.Turquoise wrote:
When did I say it wasn't? The very fact of this makes regulation necessary, because negligence can often lead to short term profit. Of course, it can also lead to disasters, as BP has found out the hard way.lowing wrote:
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not.Never did I deny this, lowing. All I'm saying is that this motivation necessitates regulation.lowing wrote:
when your company makes money YOU make money. Your company would not have hired you if you brought nothing to the table that helps the company make money. You think big business is supposed to provide jobs for the sake of providing jobs or out of the goodness of their hearts. That isn't how it works. They exploit a workforce and we ride their coat tails of profitablity with our skill sets. Or is this where you, like Veragg is going to tell me you don't care about money or making more of it?
I'm not defending BP out of laissez faire principles, I'm defending it because it was Transocean that fucked up. BP doesn't even own the well, it leases it from the government and as far as I know, had no immediate plans to pump from this particular well. It was a simple drill and cap procedure, something Transocean, Hornbeck (my brothers company) and a few other companies do on a daily basis in the Gulf. An accident was bound to happen sooner or later and this one would've been easily prevented with a more watchful Captain on the deck of his ship.Turquoise wrote:
Everything. Cutting corners = more short term profitJohnG@lt wrote:
Wtf does greed have to do with this oil spill?It's not ridiculous at all. This disaster shows us that the government didn't properly regulate BP beforehand, and BP didn't do the necessary maintenance or use the proper amount of caution.JohnG@lt wrote:
My brother explained it to me quite well. When they're set to cap off a well, they fill the drill pipe with concrete, which sinks down through the drilling mud that they use to displace the sea water and oil. When the concrete hardens, it forms a plug and the well is capped. Then they bring in an extraction rig somewhere down the road, drill through the plug and free the oil for pumping. In the case of the Deepwater Horizon, they emptied the drill pipe of drilling mud before pouring in the concrete and replaced it with sea water. Since oil, and especially natural gas, is lighter than water, it came pouring out of the well up through the pipe and forced the water out in front of it destroying all electronics on deck, including the 'deadmans switch'. Natural gas formed pools on deck since it is heavier than air and was sparked which produced the explosion and sank the rig.
They made one mistake in the entire grand scheme of things which was dumping the drilling mud before the cap set. Why they did that I don't know. Maybe the Captain or the drilling mate were trying to impress his boss with the speed of the job. We'll find out at the inquest for the Captain and the drilling mate is dead so he'll keep his secrets.
Nowhere in this entire equation do I see anything caused by greed. We need oil to sustain our way of life, they pump oil for a living. What exactly is wrong with this? It's also quite ridiculous that BP is getting hammered so hard because one of the crew members on a sub-contracted vessel made the wrong decision... but that's another topic. As with all things when blame is being thrown around, it's the man standing there with the deepest pockets that will get the lions share from the herd of jackals we call trial lawyers.
This is also turning out to be one of the worst man made disasters of all time. That certainly earns all of the contempt they're getting, if not a whole lot more.
What is ridiculous, however, is when people mistakenly defend a corporation out of some naive principle of laissez faire government.
You watch far too much televised news. The emotion that it invokes certainly comes out in your posts and is noticeable in comparison to topics which currently aren't in the national media spotlight that you weigh in on. Something to think about there.
Last edited by JohnG@lt (2010-05-23 15:50:50)
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
Just because something is necessary, it doesn't make it ethical. I acknowledge the necessity of greed, but I don't approve of it, and I don't accept it without some form of oversight.lowing wrote:
Im sorry I coulda swore you were condmening big business as being greedy, (IE thinks of making money.) as a bad thing.Turquoise wrote:
When did I say it wasn't? The very fact of this makes regulation necessary, because negligence can often lead to short term profit. Of course, it can also lead to disasters, as BP has found out the hard way.lowing wrote:
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not.Never did I deny this, lowing. All I'm saying is that this motivation necessitates regulation.lowing wrote:
when your company makes money YOU make money. Your company would not have hired you if you brought nothing to the table that helps the company make money. You think big business is supposed to provide jobs for the sake of providing jobs or out of the goodness of their hearts. That isn't how it works. They exploit a workforce and we ride their coat tails of profitablity with our skill sets. Or is this where you, like Veragg is going to tell me you don't care about money or making more of it?
Either way, these companies have to be held responsible. So, if you're suggesting that Transocean and Hornbeck should take more of the blame, I would agree.JohnG@lt wrote:
I'm not defending BP out of laissez faire principles, I'm defending it because it was Transocean that fucked up. BP doesn't even own the well, it leases it from the government and as far as I know, had no immediate plans to pump from this particular well. It was a simple drill and cap procedure, something Transocean, Hornbeck (my brothers company) and a few other companies do on a daily basis in the Gulf. An accident was bound to happen sooner or later and this one would've been easily prevented with a more watchful Captain on the deck of his ship.
I don't actually watch television much at all. I prefer reading news on the net. There's more variety in this medium and deeper coverage.JohnG@lt wrote:
You watch far too much televised news. The emotion that it invokes certainly comes out in your posts and is noticeable in comparison to topics which currently aren't in the national media spotlight that you weigh in on. Something to think about there.
I think you're mistaking my penchant for aggressive debate as emotion. I know I can come across as a dick sometimes, but my style of debate is somewhat influenced by Christopher Hitchens. Admittedly, I'll try to tone it down some.
Yes, putting politically connected individuals in charge of industries they do not understand is the way to go. Worked out well for FEMA.Turquoise wrote:
Just because something is necessary, it doesn't make it ethical. I acknowledge the necessity of greed, but I don't approve of it, and I don't accept it without some form of oversight.lowing wrote:
Im sorry I coulda swore you were condmening big business as being greedy, (IE thinks of making money.) as a bad thing.Turquoise wrote:
When did I say it wasn't? The very fact of this makes regulation necessary, because negligence can often lead to short term profit. Of course, it can also lead to disasters, as BP has found out the hard way.lowing wrote:
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not.
Never did I deny this, lowing. All I'm saying is that this motivation necessitates regulation.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
and you endorse overseeing "greedy" corporations by "greedy" and corrupt politicians? I would like to take my chances on a free market thank you.Turquoise wrote:
Just because something is necessary, it doesn't make it ethical. I acknowledge the necessity of greed, but I don't approve of it, and I don't accept it without some form of oversight.lowing wrote:
Im sorry I coulda swore you were condmening big business as being greedy, (IE thinks of making money.) as a bad thing.Turquoise wrote:
When did I say it wasn't? The very fact of this makes regulation necessary, because negligence can often lead to short term profit. Of course, it can also lead to disasters, as BP has found out the hard way.lowing wrote:
turquoise I really wish yo would let this notion go that business is in business for any other reason than money. It is not.
Never did I deny this, lowing. All I'm saying is that this motivation necessitates regulation.
Well, you're assuming that we can't put people in charge without conflicts of interest and who actually know what they're doing.JohnG@lt wrote:
Yes, putting politically connected individuals in charge of industries they do not understand is the way to go. Worked out well for FEMA.
We already have. The mortgage crisis was rather unpleasant.lowing wrote:
and you endorse overseeing "greedy" corporations by "greedy" and corrupt politicians? I would like to take my chances on a free market thank you.Turquoise wrote:
Just because something is necessary, it doesn't make it ethical. I acknowledge the necessity of greed, but I don't approve of it, and I don't accept it without some form of oversight.lowing wrote:
Im sorry I coulda swore you were condmening big business as being greedy, (IE thinks of making money.) as a bad thing.
Last edited by Turquoise (2010-05-23 16:14:12)
Actually that was due to involvment by greedy politicians and I think you know that.Turquoise wrote:
Well, you're assuming that we can't put people in charge without conflicts of interest and who actually know what they're doing.JohnG@lt wrote:
Yes, putting politically connected individuals in charge of industries they do not understand is the way to go. Worked out well for FEMA.We already have. The mortgage crisis was rather unpleasant.lowing wrote:
and you endorse overseeing "greedy" corporations by "greedy" and corrupt politicians? I would like to take my chances on a free market thank you.Turquoise wrote:
Just because something is necessary, it doesn't make it ethical. I acknowledge the necessity of greed, but I don't approve of it, and I don't accept it without some form of oversight.
Part of it, yes. The CRA was bullshit. Also, Fannie Mae and Freddie Mac should probably be dissolved by now.lowing wrote:
Actually that was due to involvment by greedy politicians and I think you know that.Turquoise wrote:
Well, you're assuming that we can't put people in charge without conflicts of interest and who actually know what they're doing.JohnG@lt wrote:
Yes, putting politically connected individuals in charge of industries they do not understand is the way to go. Worked out well for FEMA.We already have. The mortgage crisis was rather unpleasant.lowing wrote:
and you endorse overseeing "greedy" corporations by "greedy" and corrupt politicians? I would like to take my chances on a free market thank you.
However, the other side of this was caused by a lack of regulation regarding derivatives and leveraging.
Didn't seem to be a problem for 60 years before govt. involvment and the desire make homes available to all regardless of being able to afford one. It was a result of regulation that brought us down. Banks were forced to loan money they knew they would not get back for the most part. Give the loans or face the wrath of govt.Turquoise wrote:
Part of it, yes. The CRA was bullshit. Also, Fannie Mae and Freddie Mac should probably be dissolved by now.lowing wrote:
Actually that was due to involvment by greedy politicians and I think you know that.Turquoise wrote:
Well, you're assuming that we can't put people in charge without conflicts of interest and who actually know what they're doing.JohnG@lt wrote:
Yes, putting politically connected individuals in charge of industries they do not understand is the way to go. Worked out well for FEMA.
We already have. The mortgage crisis was rather unpleasant.
However, the other side of this was caused by a lack of regulation regarding derivatives and leveraging.