Union thiugs get away with kidnapping, destruction of personal property

[PROBASCO]

Teamsters complaining they lost work because of this attack by Longshoremen

When Longshoremen Attack
Attention Democrats: THIS is what hostage taking looks like.
by John Hayward
09/08/2011
http://www.humanevents.com/article.php?id=46049

Things got pretty exciting at the Port of Longview in Washington State this morning, as related by the Associated Press:

Hundreds of Longshoremen stormed the Port of Longview early Thursday, overpowered and held security guards, damaged railroad cars, and dumped grain that is the center of a labor dispute, said Longview Police Chief Jim Duscha.

Six guards were held hostage for a couple of hours after 500 or more Longshoremen broke down gates about 4:30 a.m. and smashed windows in the guard shack, he said.

No one was hurt, and nobody has been arrested. Most of the protesters returned to their union hall after cutting brake lines and spilling grain from car at the EGT terminal, Duscha said.

No arrests? How remarkable! Maybe that’s because the union thugs threatened police officers who responded to the disturbance with violence:

"We're not surprised," Duscha said. "A lot of the protesters were telling us this in only the start."

One sergeant was threatened with baseball bats and retreated, Duscha said. "One officer with hundreds of Longshoremen? He used the better part of discretion."

Were these goons looking to take out some “scab” workers or “Tea Party sons of bitches?” Were they striking back at an evil union-busting corporation? Nope.

The International Longshore and Warehouse Union believes it has the right to work at the facility, but the company has hired a contractor that's staffing a workforce of other union laborers.

[…] The blockade appeared to defy a federal restraining order issued last week against the union after it was accused of assaults and death threats.

All those dishonest liberals - including many prominent Democrat politicians - who have been endlessly bleating about Tea Party “terrorism” and “hostage-taking” finally have an example of real political terrorism and hostage-taking to study. See the difference now, Democrats? Still think it’s all just an elegant, highly nuanced political metaphor when a top union boss loudly instructs his followers to “take people out?”

Incidentally, the International Longshore and Warehouse Union is part of the AFL-CIO, whose president, close Obama friend Richard Trumka, said this about close Obama friend James Hoffa’s threatening rhetoric, as noted by the Daily Caller:

On CNN’s “Piers Morgan Tonight,” Trumka said he “probably wouldn’t have chose the adjectives [Hoffa] used” but that he supports the premise.

“I think Jim Hoffa’s speaking for the anger that millions of Americans have,” Trumka said. “These people [tea partiers and congressional Republicans] are playing political brinksmanship and not allowing us to create jobs and they’re not willing to help us get the country moving. Some of them even announced that they want the president to fail.”

Trumka will be an honored guest of President Obama at the President’s “jobs” speech tonight. Maybe he’ll bring a hostage as his Plus One.

Imagine the news coverage we’d be getting if a Tea Party group did something like this. That’s the kind of coverage you won’t be seeing of the longshoreman attack on the major networks tonight. We probably won’t even get a public-service announcement reminding us to use “the better part of discretion” when confronted by an angry union mob. You certainly can’t count on the police to arrest anybody after the vandalism, threats, and assaults.

[nfa1934]

This governor should have had the state police at the union hall waiting for them.

[PROBASCO]

This governor should have had the state police at the union hall waiting for them.

WITH 3-5 VISITS A WEEK TO THE WHITE HOUSE BY AFL-CIO president, its doubtful anything will be done. Hoffa is in portland, spurring this on.. The presidents "civilian force to rival the military"???

[nfa1934]

WITH 3-5 VISITS A WEEK TO THE WHITE HOUSE BY AFL-CIO president, its doubtful anything will be done. Hoffa is in portland, spurring this on.. The presidents "civilian force to rival the military"???

Agree that nothing is going to happen to them. Very little that "should" happen is happening now and various thug groups acting with impunity has become the norm.

[Gun Toting Lefty]

at least it's good to see the left kick some ass for once.

[caaraa]

Thanks guys.
http://www.primeaffiliate.com/track/images/20.creation.jpg

[LAGC]

I wish I was a "union thug."

Sucks being stuck in a so-called "Right to Work" state, where its almost impossible to unionize a shop, for workers to make their voices heard.

Low wages, no benefits, and no pensions: the future of a right-wing AmeriKKKan utopia.

Shitty jobs for all. Now all they need to do is get rid of the minimum wage, and the race to the bottom will be complete.

[Cypher]

This is pretty bad, they should have brought in the national guard if need be and arrest these scum bags. Since when is it ok to physically and violently force anyone to do what you want.

Think about it, lets say you hire Joe Schmo to cut your grass, Joe Schmo demands you pay him $100 when $60 is the fair and average price for the job, you say no thanks fire Joe Schmo and hire Gomez to do it for $60. Next thing you know Joe Schmo breaks into your house and holds your kid as a hostage and demands that you hire him back for $110. Is this fair and right in anyone's mind? After all Joe Schmo really wants to get paid a lot more than the job justifies.



I wish I was a "union thug."

Sucks being stuck in a so-called "Right to Work" state, where its almost impossible to unionize a shop, for workers to make their voices heard.

Low wages, no benefits, and no pensions: the future of a right-wing AmeriKKKan utopia.

Shitty jobs for all. Now all they need to do is get rid of the minimum wage, and the race to the bottom will be complete.

The only thing more disturbing than the ignorant diarrhea you spew from your mouth (fingers) is that you can (maybe) vote and others like you can vote.

[Massachusetts Minuteman]

That's been big business's approach to labor for centuries now: Exploit them untill they're desperate, then shoot them in self defense.

[Richard Simmons]

The unions realize that their time is about up so they really have nothing to loose at this point. Expect continued vandalism and at some point outright murder as their leadership pushes it's rank and file to a final controntation.


LAGC,

Unlike the union hostages at the dock you're free to move to where ever you want. If you want a union job to care for you then go for it. All it takes is initiative on your part.

[nfa1934]

Sucks being stuck in a so-called "Right to Work" state, where its almost impossible to...

...drive your job overseas by nearly bankrupting the company you work for, while the leadership soaks you for dues to fund leftist political agendas (while brainwashing you into thinking they work for you and not the other way around).

[PROBASCO]

I wish I was a "union thug."

Sucks being stuck in a so-called "Right to Work" state, where its almost impossible to unionize a shop, for workers to make their voices heard.

Low wages, no benefits, and no pensions: the future of a right-wing AmeriKKKan utopia.

Shitty jobs for all. Now all they need to do is get rid of the minimum wage, and the race to the bottom will be complete.

WHAT GIVES THE UNION THE RIGHT TO DICTATE TO OTHERS? The union's nazi "my way or the highway" Markist agenda is anti liberty and you support it? This is land of the Free remember, or does your personal greed trump others right to choose? SERIOUSLY?

[PROBASCO]

Yep, $60-80 an hour for auto workers is real exploitation along with 4-6 weeks off paid vacation, discounts on medical, retirement accounts, the RIGHT to not get fired, yep real exploitation...

[Warthogg]

That's been big business's approach to labor for centuries now: Exploit them untill they're desperate, then shoot them in self defense.

News Flash !! Henry Ford is dead.

So is the era you describe.


Wart

[Massachusetts Minuteman]

Yep, $60-80 an hour for auto workers is real exploitation

Except for the real part. That's over double the average auto worker's hourly wage.

[Richard Simmons]

Except for the real part. That's over double the average auto worker's hourly wage.

True. Average wage at GM is between $28 and $33 an hour depending on if your an assembler or tool and die maker. Now the COST per employee to someone like GM which includes all wages and benefits for current workers as well as pension and benefits for retirees is around $70 an hour.

[LAGC]

WHAT GIVES THE UNION THE RIGHT TO DICTATE TO OTHERS? The union's nazi "my way or the highway" Markist agenda is anti liberty and you support it? This is land of the Free remember, or does your personal greed trump others right to choose? SERIOUSLY?

Collective bargaining (workers negotiating with management) is one of the bedrocks of democracy, its what built a strong middle-class here in America. Unions push wages higher for ALL workers, as even the non-union shops have to offer a competitive wage to attract and keep workers. As unions have been marginalized over the past 50 years, we've seen the middle-class decline as well. Most of these wonderful new jobs you hear about in Texas and other "right-to-work" states pay minimum wage, or not much above it. Far less than workers were making before, in many cases.

If the capitalists ever succeed in outlawing the unions altogether, we'll all be fucked -- it will be back to the days of feudalism, with a few rich lords ruling over the rest of the impoverished masses.

[Massachusetts Minuteman]

If the capitalists ever succeed in outlawing the unions altogether, we'll all be fucked -- it will be back to the days of feudalism, with a few rich lords ruling over the rest of the impoverished masses.

But I thought big business gave us a weekend, a living wage, holidays and benefits, pensions, maternity leave, and safe working conditions out of the goodness of their hearts.

[Richard Simmons]

Collective bargaining (workers negotiating with management) is one of the bedrocks of democracy, its what built a strong middle-class here in America. Unions push wages higher for ALL workers, as even the non-union shops have to offer a competitive wage to attract and keep workers. As unions have been marginalized over the past 50 years, we've seen the middle-class decline as well. Most of these wonderful new jobs you hear about in Texas and other "right-to-work" states pay minimum wage, or not much above it. Far less than workers were making before, in many cases.



If the capitalists ever succeed in outlawing the unions altogether, we'll all be fucked -- it will be back to the days of feudalism, with a few rich lords ruling over the rest of the impoverished masses.

How'd that work for those Verizon workers? Collective bargianing = EXTORTION. Give us what we want or we'll put you out of business. Yeah, that's bargaining all right.

If anyone has "marginalized" the unions it's been the unions who did it to themselves through greed and corruption. Their time is long gone.

[Ronwicp]

My mom worked for a company and the workers unionized. They demanded so much and the company said no. So they went on strike and they closed the doors and now the whole town is without jobs, other than service jobs. The workers for this small company wanted the same wages as rival large companies. I guess they got the wish when they had to move across the country to work for those other companies.

[weevil]

Well actually the ironic thing is that they're not protesting because it's a non-union shop.


This isn't some "right to work" issue or forcing somebody to join a union, it's a turf war.


They're mad because the contractor for the job is using worlers from another union.


So much for the unity of labor.

[Gun Toting Lefty]

My mom worked for a company and the workers unionized. They demanded so much and the company said no. So they went on strike and they closed the doors and now the whole town is without jobs, other than service jobs. The workers for this small company wanted the same wages as rival large companies. I guess they got the wish when they had to move across the country to work for those other companies.

there's a difference between a small local company where the workers are paid what the company can afford and WAL-MART where the executives pocket all but the last penny.

[00RedZX-6R]

If you don't like it don't work there. Get a skill that pays more money or start your own buisness.

[Warthogg]

at least it's good to see the left kick some ass for once.

When it comes to violence the left leads. Remember Billy Ayers (Barry's bud) and the Weather Underground ........the Symbionese Liberation Army.......etc., etc.


Wart

[f.b.l.p]

So you want to be a union thug.You want to give a piece of every penny you make to politicians,rich lawers,and whacktivist causes that are inimical to lifestyle you strive to achieve.Maybe you want to work your ass off to make up for that lazy dick who screws up every task he/she is is assigned and recieve the same pay as them because management can't reward,or even recognize superior performance.Or how about being forced to make up a union officials shift because they are out attending a "Union Activity".All expenses paid,AND the company has to pay their regular wages and overtime while their gone.Yes,I'm in a union.I work at a mine.How about some irony? recently a local environmental[AndI stress MENTAL] group published a letter stating that mining is murder!They claim that every drop of water is as precious as a human life!They are fighting every mine,and there are several around here,on environmental issues.They cost the mining industry millions of dollars every year for legal battles.They fight every new mine proposal,And there are several,tooth and nail.These mines employ thousands,and many thousands more in the support industries.Billions to the economy,And they would shut it all down right now if they could.Alot of these whacktivists don't even live anywheres near here.The irony?.My union donates money to these assholes,Because they are "Progressive" and support the liberal agenda.Yes,The unions were a force for good at one time.Yes,They did bring about changes that benifited the working,middle class.Those days are over.Now unions work for the benifit of themselves.Hundreds of billions of union dues used for what?I personaly pay several thousand of dollars a year in union dues,and as far as I'm concerned,this is taxation without representation.Keep this in mind as you wish to be a "Union Thug".

[Warthogg]

there's a difference between a small local company where the workers are paid what the company can afford

and WAL-MART where the executives pocket all but the last penny.

How many jobs have those executives created ?? How many kids went to sleep last night with a full stomach because of those executives ?? How many were able to finish high school and go to college because of those executives.

How many house and cars sold to those employees..... ??

I am THANKFUL for those executives.


Wart

[Warthogg]

So you want to be a union thug.You want to give a piece of every penny you make to politicians,rich lawers,and whacktivist causes that are inimical to lifestyle you strive to achieve.Maybe you want to work your ass off to make up for that lazy dick who screws up every task he/she is is assigned and recieve the same pay as them because management can't reward,or even recognize superior performance.Or how about being forced to make up a union officials shift because they are out attending a "Union Activity".All expenses paid,AND the company has to pay their regular wages and overtime while their gone.Yes,I'm in a union.I work at a mine.How about some irony? recently a local environmental[AndI stress MENTAL] group published a letter stating that mining is murder!They claim that every drop of water is as precious as a human life!They are fighting every mine,and there are several around here,on environmental issues.They cost the mining industry millions of dollars every year for legal battles.They fight every new mine proposal,And there are several,tooth and nail.These mines employ thousands,and many thousands more in the support industries.Billions to the economy,And they would shut it all down right now if they could.Alot of these whacktivists don't even live anywheres near here.The irony?.My union donates money to these assholes,Because they are "Progressive" and support the liberal agenda.Yes,The unions were a force for good at one time.Yes,They did bring about changes that benifited the working,middle class.Those days are over.Now unions work for the benifit of themselves.Hundreds of billions of union dues used for what?I personaly pay several thousand of dollars a year in union dues,and as far as I'm concerned,this is taxation without representation.Keep this in mind as you wish to be a "Union Thug".

Well said.


Wart

[Richard Simmons]

So you want to be a union thug.You want to give a piece of every penny you make to politicians,rich lawers,and whacktivist causes that are inimical to lifestyle you strive to achieve.Maybe you want to work your ass off to make up for that lazy dick who screws up every task he/she is is assigned and recieve the same pay as them because management can't reward,or even recognize superior performance.Or how about being forced to make up a union officials shift because they are out attending a "Union Activity".All expenses paid,AND the company has to pay their regular wages and overtime while their gone.Yes,I'm in a union.I work at a mine.How about some irony? recently a local environmental[AndI stress MENTAL] group published a letter stating that mining is murder!They claim that every drop of water is as precious as a human life!They are fighting every mine,and there are several around here,on environmental issues.They cost the mining industry millions of dollars every year for legal battles.They fight every new mine proposal,And there are several,tooth and nail.These mines employ thousands,and many thousands more in the support industries.Billions to the economy,And they would shut it all down right now if they could.Alot of these whacktivists don't even live anywheres near here.The irony?.My union donates money to these assholes,Because they are "Progressive" and support the liberal agenda.Yes,The unions were a force for good at one time.Yes,They did bring about changes that benifited the working,middle class.Those days are over.Now unions work for the benifit of themselves.Hundreds of billions of union dues used for what?I personaly pay several thousand of dollars a year in union dues,and as far as I'm concerned,this is taxation without representation.Keep this in mind as you wish to be a "Union Thug".

Straight from the horses mouth. Thank you!

[Ruskiegunlover]

Fuck unions, and all those who are in them. Seriously, fuck them. Socialist pigs. I have worked in the aircraft industry, and now the teaching industry......both heavily union organized. Union membership in the teachers socialist utopia is surprisingly DOWN, almost 50% at my school. But in the aircraft industry these filthy pieces of shit piss and moan about how the company owes them, how they don't make enough at 20+ bucks an hour plus overtime with great benefits and only a highschool degree, then they come in and LITERALLY SIT DOWN for 8 hours of doubletime on a sunday, fuck off for half the 8 on saturday, and piss and moan about how the company is evil......

I would get so pissed at these pieces of shit. THEY are the ones who drive prices up for our goods. THEY are the ones who've pushed industry out of our country. People don't deserve to eat,a nd should be paid less and fired if they don't like it. Let the worthless entitled pieces of shit starve to death, literally.

[blacksheep]

Is this the civilian army Obama was talking about ? :think:

[Sidartha]

there's a difference between a small local company where the workers are paid what the company can afford and WAL-MART where the executives pocket all but the last penny.
Wal-Mart employs people at the high school drop-out level.
People who don't have a marketable skill except the ability to move small boxes. How much do people with qualifications like that "deserve"?
When your only job requirements are don't offend the customers and if you are high, don't let the customers know.

[NineFiveBravo]

Unions work for some, they don't work for others. I picked my job accordingly

[Ronwicp]

there's a difference between a small local company where the workers are paid what the company can afford and WAL-MART where the executives pocket all but the last penny.

But where do you draw the line? Who is big enough and how do you measure that? 10% profit? 10 million in profit? Is there a dollar amount or percentage?

[nfa1934]

But where do you draw the line? Who is big enough and how do you measure that? 10% profit? 10 million in profit? Is there a dollar amount or percentage?

He's a socialist. All profit is bad. The left publicly draws the line at whatever point they think they can fool the public into supporting with the typical leftist class-warfare talking points. Right now, it's the "big" corporate fat cats. Once that's acceptable, they move the line. They keep going until there is no such thing as profit.

[Cypher]

Something else I don't get about the whole union thuggery. What exactly makes them more special and entitled to a job than the other union or other non union workers that the company is hiring? Sounds pretty hypocritical to me but I guess that's par for course for liberal outfits. Remember were not talking about peaceful picketing we are talking about violence and forcing their will on others.

It also sounds like they need to learn a few lessons about market balance and how to work for competitive wages when millions of unemployed people are lining up for jobs.




How many jobs have those executives created ?? How many kids went to sleep last night with a full stomach because of those executives ?? How many were able to finish high school and go to college because of those executives.

How many house and cars sold to those employees..... ??

I am THANKFUL for those executives.


Wart

:tooth: Whuh? You mean the job ferry doesn't create jobs for everyone? You mean to tell me all this time jobs have been created by businesses and executives that work 100+ hour weeks to run their business and make it profitable enough to provide millions of jobs across America?

[Massachusetts Minuteman]

The left publicly draws the line at whatever point they think they can fool the public into supporting with the typical leftist class-warfare talking points. Right now, it's the "big" corporate fat cats.
Well the corporate fat cats were the ones who made billions even after they sank the economy with their wheeling & dealing. And none of them, or their government manservants, went to jail. Meanwhile, millions of working stiffs lost their jobs and homes. No one's being fooled except those who think the system isn't broken.



It also sounds like they need to learn a few lessons about market balance and how to work for competitive wages when millions of unemployed people are lining up for jobs.

And what exactly is keeping the Invisible Hand, the guiding spirit of the market, from creating jobs and prosperity like it's supposed to? If capitalism is such a wonderful system, why are millions of people still out of work? Are you telling me the bland centrists in the Obama Administration are deliberately holding back the economy from rebounding?

[Goodman]

Are you telling me the bland centrists in the Obama Administration are deliberately holding back the economy from rebounding?

There's nothing centrist about the O administration- that you refer to it that way says much about you, and yes, deliberate or not, They ARE holding back the economy.

[Cypher]

And what exactly is keeping the Invisible Hand, the guiding spirit of the market, from creating jobs and prosperity like it's supposed to? If capitalism is such a wonderful system, why are millions of people still out of work? Are you telling me the bland centrists in the Obama Administration are deliberately holding back the economy from rebounding?

It's not difficult to understand how a free market works. It's amazing, the free market system in America has made it the most prosperous country in recorded history, thank God, and now all of a sudden a bunch of loose cannon socialist liberals kill the economy and some how it's the fault of a capitalistish system, lol, what a joke
.
Thanks to people like barney frank and obama we get to enjoy a downed economy and higher levels of unemployment. LOL I remember liberals complaining like it was the end of the world when unemployment was less than 4% with Bush as president, where are these people now and why aren't they bashing obama like they did Bush?

[LAGC]

It's not difficult to understand how a free market works. It's amazing, the free market system in America has made it the most prosperous country in recorded history, thank God, and now all of a sudden a bunch of loose cannon socialist liberals kill the economy and some how it's the fault of a capitalistish system, lol, what a joke
.
Thanks to people like barney frank and obama we get to enjoy a downed economy and higher levels of unemployment. LOL I remember liberals complaining like it was the end of the world when unemployment was less than 4% with Bush as president, where are these people now and why aren't they bashing obama like they did Bush?

Uh, the economy tanked before Bush was even out of office. That's a good part of the reason why Obama got elected, because he hung the "status quo" economy mill-stone around McCain's neck.

http://static8.businessinsider.com/image/4bb614577f8b9a1667ae0100/chart-020510-update.gif

Obama's policies have really slowed the bleeding. The recession is officially over and the economy IS creating jobs, the problem is just not nearly enough for all the people entering the work force, let alone all those still unemployed from the Bush years.

[Goodman]

Lefty, can you widen that chart by 2 years on either side?

[Massachusetts Minuteman]

It's amazing, the free market system in America has made it the most prosperous country in recorded history, thank God, and now all of a sudden a bunch of loose cannon socialist liberals kill the economy and some how it's the fault of a capitalistish system, lol, what a joke
I don't think the big businesses who treated the world economy like a roulette wheel and scammed billions from working folks were socialists. I think the profit motive might have had something to do with it.

[Cypher]

I don't think the big businesses who treated the world economy like a roulette wheel and scammed billions from working folks were socialists. I think the profit motive might have had something to do with it.

If you manage a bank why would you think it's profitable to loan large amounts of money to people who would have never come close to qualifying for the loan just a few years prior?

[Massachusetts Minuteman]

If you manage a bank why would you think it's profitable to loan large amounts of money to people who would have never come close to qualifying for the loan just a few years prior?

It couldn't be because mortgage debt was booming business or anything, could it?

Or that businesses could bundle bad loans into mortgage-backed securities, then overrate the packages and sell them to pension fund managers?

Or that businesses could then gamble on their failure with unregulated financial instruments and make even more profit?

Those were golden days for the free market!

[ltorlo64]

It couldn't be because mortgage debt was booming business or anything, could it?

Or that businesses could bundle bad loans into mortgage-backed securities, then overrate the packages and sell them to pension fund managers?

Or that businesses could then gamble on their failure with unregulated financial instruments and make even more profit?

Those were golden days for the free market!

They were pretty much forced to do this by Tim Gietner and a Democratic Congress who promised repercussions if they did not do these things. That is not a free market, that is government once again manipulating the market and then not taking responsibility for the outcome.

[Massachusetts Minuteman]

They were pretty much forced to do this by Tim Gietner and a Democratic Congress who promised repercussions if they did not do these things. That is not a free market, that is government once again manipulating the market and then not taking responsibility for the outcome.
Oh, yes, they were forced to do it. AIG, Bear Stearns, Ameriquest, they hated making billions on this scam. The only reason they took part in it is because the big bad Democrats control the entire financial sector and can compel the big money boys to do their bidding with no questions asked.

Come on.

I blame the government for not regulating derivatives and other financial instruments, and not sending CEOs to jail, along with Rubin and Summers, after the crash. But make no mistake, this was a typical Wall Street feeding frenzy.

[LAGC]

Lefty, can you widen that chart by 2 years on either side?

I looked and looked, but the best I could do was widen it by 1-year on Obama's side:

http://farm6.static.flickr.com/5041/5333277156_038f02c717_b.jpg

More jobs were created in Obama's second year than in Bush's entire eight.

[Warthogg]

Quote Originally Posted by ltorlo64 View Post
They were pretty much forced to do this by......a Democratic Congress who promised repercussions if they did not do these things. That is not a free market, that is government once again manipulating the market and then not taking responsibility for the outcome


ltorlo64 is correct. Led by Chris Dodd and Barney Frank, the Congress of the Dimocrats pandered to their constituency by forcing housing loans to unqualified home buyers. Banks were threatened if they did not comply.

Fact and not conjecture.



Oh, yes, they were forced to do it. AIG, Bear Stearns, Ameriquest, they hated making billions on this scam. The only reason they took part in it is because the big bad Democrats control the entire financial sector and can compel the big money boys to do their bidding with no questions asked.

Come on.

.

M&M seems you believe Wall Street and Big Bidness are controlled by Rethuglicans while, in the main, Dimcorats control those entities. (It is 'small' bidness that is Rethuglican.)

BUT this is far from a completely Dim problem. Dubya Bush not only wanted every one to have a pot (and multiple chickens in each pot) he also wanted a house to hold that pot. Somewhere along the line too many in both (worthless parties) believed housing a 'right'.


I blame the government for not regulating derivatives and other financial instruments, and not sending CEOs to jail, along with Rubin and Summers, after the crash.


AGREED. Let us not forgot the ratings agencies.....Standard and Poor and Moody's. Those criminals gave the worthless bundled mortgages AAA rating without which the garbage could not have been sold.



But make no mistake, this was a typical Wall Street feeding frenzy.



A feeding frenzy yes. Typical I'm just not sure. I am sure the initiator of the feeding frenzy was the US Congress.


Wart

[Massachusetts Minuteman]

I am sure the initiator of the feeding frenzy was the US Congress.

Nope.

The fact that the Senate Banking & Finance Committee is essentially an operating division of the finance sector in the USA is a disgrace, as is the fact that Fannie Mae and Freddie Mac were sucking from the trough of sweet mortgage debt (and pretending they were doing the poor a favor by involving them in the works) when it was still full. The fact that the banking & finance sector has been freed from more regulation by every administration since Reagan's is a major reason the criminals were able to get away with this monumental scam.

But let's be reasonable here. Big business doesn't have to be forced by government to rake it in, and they have no qualms about soaking you and me to do it.

[Warthogg]

Quote Originally Posted by Warthogg View Post
I am sure the initiator of the feeding frenzy was the US Congress.

Nope.

The fact that the Senate Banking & Finance Committee is essentially an operating division of the finance sector in the USA is a disgrace, as is the fact that Fannie Mae and Freddie Mac were sucking from the trough of sweet mortgage debt (and pretending they were doing the poor a favor by involving them in the works) when it was still full. The fact that the banking & finance sector has been freed from more regulation by every administration since Reagan's is a major reason the criminals were able to get away with this monumental scam.

But let's be reasonable here. Big business doesn't have to be forced by government to rake it in, and they have no qualms about soaking you and me to do it.

Without Congress this could never have happened. Did big business have any qualms about "soaking you and me" ?? NOOOOOOOOOOOOO. Worse they shafted their own share holders and many employees.. These executives fattened only those near the top with huge bonuses based on bogus profits.

Regulation without the will to regulate is without value.*


Wart

*Please see the Federal Reserve Bank for the quintessential example. Been around since 1913 and never been audited.

[Goodman]

I looked and looked, but the best I could do was widen it by 1-year on Obama's side:




Rather convenient for you. Is that net growth then, or just more statistical spin?

[Massachusetts Minuteman]

Regulation without the will to regulate is without value.*

That's right.

To my way of thinking, the government should have been regulating the banking and finance hotshots. The fact that the so-called regulators almost all came from the big investment firms and banks means there was no actual regulating being done. What better way to perpetrate a scam like that than to get your cronies in the government to involve the poor in the scheme? There's still debate about how many of the loans originated because of the CRA, but it seems like the government was approving loan sharks to victimize low-income households.

I'm no libertarian, so I believe government has the responsibility not to encourage and reinforce the worst habits of the business world. But in our current system, the banking and finance sector contributes billions to politicians that won't regulate, won't prosecute, and won't break up the banks no matter how bad their scams fuck up the world economy.

[Warthogg]

That's right.

To my way of thinking, the government should have been regulating the banking and finance hotshots. The fact that the so-called regulators almost all came from the big investment firms and banks means there was no actual regulating being done. What better way to perpetrate a scam like that than to get your cronies in the government to involve the poor in the scheme? There's still debate about how many of the loans originated because of the CRA, but it seems like the government was approving loan sharks to victimize low-income households.

I'm no libertarian, so I believe government has the responsibility not to encourage and reinforce the worst habits of the business world. But in our current system, the banking and finance sector contributes billions to politicians that won't regulate, won't prosecute, and won't break up the banks no matter how bad their scams fuck up the world economy.

Agree as stated.

My preference would be only 'enforced' basic regulation and NO BAIL OUTS. That would mean elimination of the (non) Federal Reserve (non) Bank of course as the Fed's primary job is to shift losses from the so-called "too big To fail" to the US taxpayer.........bail out by any other name......... .

Had I the power I would have allowed the whole rotten apparatus to fall....from AIG, to Wall Street to GM, Chrysler and the UAW. Of course never would I have bailed out the foreign banks.


Wart



I'm no libertarian...


I'm about 80% libertarian. (Much to my surprise.)

[Ruskiegunlover]

LAGC, you must make Joe Stalin, Mao, and Lenin proud with your ability to spin stats.......You are fucking hilarious. Do you expect people to believe the chart you just posted? No, no, I am serious.......do you REALLY think we're going to believe that? Or are you just trying to make us believe that bam bam REALLY stopped the economy from falling? HA, no, really?

Want to take a guess as to why companies aren't hiring? Oh, and want to take a guess as to what the REAL unemployment is?

[Cypher]

It couldn't be because mortgage debt was booming business or anything, could it?

Or that businesses could bundle bad loans into mortgage-backed securities, then overrate the packages and sell them to pension fund managers?

Or that businesses could then gamble on their failure with unregulated financial instruments and make even more profit?

Those were golden days for the free market!

No it couldn't, banks were forced to do subprime lending, why would they want to, it's bad business. I'm not saying everything they did after the fact was right but the blame is on the politicians that made it happen.


I looked and looked, but the best I could do was widen it by 1-year on Obama's side:

http://farm6.static.flickr.com/5041/5333277156_038f02c717_b.jpg

More jobs were created in Obama's second year than in Bush's entire eight.

Shhhh, don't mention anything about the fact unemployment numbers skyrocketed under obama and that 99% of the job gain from his first year or two were from fluffing the job gain numbers and short term jobs that went away very soon. Bush made plenty of mistakes but at least most of the people in the country had a job.

[Ruskiegunlover]

and I thought the big spikes were temporary gains from cencus employees......ha, what a jok. Not to mention the falling off is not JOBS GAINED but people falling off of unemployment. We've created virtually NO jobs in several years, compared to the rising unemployment.

[1 Patriot-of-many]

I'm no libertarian, so I believe government has the responsibility not to encourage and reinforce the worst habits of the business world. But in our current system, the banking and finance sector contributes billions to politicians that won't regulate, won't prosecute, and won't break up the banks no matter how bad their scams fuck up the world economy.

No shit..... Are you Kadmos reincarnated? Why have a symbol of freedom for your icon when it's so obvious you are a Communist? Nobody is fooled.