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Did Elizabeth Warren Predict Occupy Wall Street? 2009 Interview Goes Viral

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“The more things change, the more they stay the same” is a refrain that’s comforting to turn to, because it tells us that there’s a pattern and a precedent to all things; there exists some sort of blueprint for us if only we take a moment to look at history. That’s an idea Elizabeth Warren, who served as Special Adviser to the Secretary of the Treasury for the Consumer Financial Protection Bureau, seemed to echo when speaking to Dan Rather back in 2009. Now, her words take on additional relevance as the Occupy Wall Street protests continue to spread across different U.S. cities.

RELATED: Wall Street Lobbyists Are Reportedly Targeting Elizabeth Warren’s Run For Senate

Here’s what Warren had to say about “panics” and how we’ve dealt with such economic depressions in the recent past:

About every 15 to 20 years we have another crisis. We call them panics. We have different names for them. [...] Depression. But they happen about every 15 to 20 years for 140 years. The pattern is just unmistakable. Then we hit the Great Depression.

And coming out of the Great Depression we put three new regulations in place: Glass-Stiegel, which divides our community banks basically from the Wall Street investment banks, FDIC insurance, put money in the bank and know that it’s safe and some SEC regulations so you can invest on Wall Street and they can’t cheat you too directly. That’s what we put in place. For 50 years we have no bank failures, no major crises. It works.

Now, there’s innovation. There’s change. It’s time to change regulations.

Have a look at Warren’s comments:

h/t Elephant Journal

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  • http://www.facebook.com/people/Dronetek-Bulk-Vanderhuge/100000918732763 Dronetek Bulk Vanderhuge

    Glenn Beck predicted them too and even who would organize them. He was right on all accounts. Warren is one of those far left nut cases trying to start a red revolution. 

    Is there going to be a Mediaite story about Beck’s predictions coming true? I’ll take a wild guess and say no. 

  • http://www.facebook.com/people/Dronetek-Bulk-Vanderhuge/100000918732763 Dronetek Bulk Vanderhuge

    Glenn Beck predicted them too and even who would organize them. He was right on all accounts. Warren is one of those far left nut cases trying to start a red revolution. 

    Is there going to be a Mediaite story about Beck’s predictions coming true? I’ll take a wild guess and say no. 

  • Anonymous

    Lolz who’s organizing them Freud?

  • Anonymous

    January 1993, Saddam Hussein predicted that the American economy would
    struggle due to overspending on military operations overseas

  • Anonymous

    This is moronic, Glenn does not predict events based on facts and statistics, all he does is combine past events and scare the living day light out of pensioners. Shame on him and you for being one of his sycophants. 

  • http://pulse.yahoo.com/_M5V6VTQAVLARF7XXO47Z5OCZWM TangledThorns

    Beck predicted this too however his vision wasn’t as rosy as Warren’s. Shame on the OWS mob.

  • Anonymous

    Didn’t Beck predict the far left liberals would try to do this over and over again on his program.  Just as he predicted a wave of anti-Israeli and anti-semetism against Israel by the Arab Spring countries?

  • Luckyirishgoddess

    Eliabeth Warren is awesome.  But I didn’t hear her predict that the unemployed/underemployed would occupy Wall St.  She said what everyone else that was paying attention noticed 2 years ago, the capitalist meltdown in 2008 would be painful and its effects long-lasting.  Alan (Ayn Rand’s lover) Greenspan is a fool.

  • Luckyirishgoddess

    Glenn Beck ass-umes all Americans are tools, like his audience.
    We’re not.
    First they ignore you
    Then they ridicule you
    Then they get scared.
    The right is terrified by the Wall St protests.  As well they should be.  

  • Anonymous

    “The Bush administration today recommended the most significant
    regulatory overhaul in the housing finance industry since the savings
    and loan crisis a decade ago.” – New York Times 2003:

    http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html

    I’m not a fan of most of Bush’s policies, but it should be noted that John McCain and George Bush were thwarted when trying to put in place safeguards that people like Barney Frank fought tooth and nail against:

    ”These two entities — Fannie Mae and Freddie Mac — are not facing any
    kind of financial crisis,” said Representative Barney Frank of
    Massachusetts, the ranking Democrat on the Financial Services Committee.
    ”The more people exaggerate these problems, the more pressure there is
    on these companies, the less we will see in terms of affordable
    housing.”

    http://www.nytimes.com/2003/09/11/business/new-agency-proposed-to-oversee-freddie-mac-and-fannie-mae.html

    I highly recommend reading this Times article from 2003 as a neat little time capsule.

  • Luckyirishgoddess

    Wall St speculation and losses of our pensions and life savings is criminal.
    Expose their owners and enablers, and take back our government that is supposed to represent we the people, not Wall St speculators.

  • Anonymous

    For the Banks being strongly against this lady, should automatically qualify her for that position. Its like another battle between doing what is right and against the bankers, just like Roosevelt did. So I bet she also ‘welcome their hatred’. 

  • Anonymous

    You are so right, DBV! 

    Whether Mediaite, Morning Joe, or the legacy media wants to admit it or not, Beck predicted what is happening right now months ago on his shows and he explained exactly who is behind it and what the purpose is. 

    Alex, you should go back and watch Beck’s shows and see how your age group is being manipulated. You might actually get angry about seeing yourselves viewed as “useful idiots” by people like Soros, Van Jones, John Podesta and Elizabeth Warren. The “young people” are just tools to be employed to concentrate power in the political “elite.” They’d rather see you unemployed, in debt, and pi$$ed off, instead of solving the problems that got our country into this mess.

    Listen to Beck’s predictions and see if they don’t ring true. Trust your instincts, they’ll be more accurate than the “social justice” garbage you learned in college. 

  • Michelle

    Well, I guess we are a little scared, since they are calling for for the beheading, execution, and cannibilizing of the “rich”, and spewing racism and anti-semitism, and deficating on police cars.  We aren’t amused, we are disgusted. 

  • Anonymous

    Picket the White House , kids .

    “America doesn’t sing “Pick yourself up” anymore.  All we sing is “I’m a victim!  My parents don’t love me!  I don’t want to pick myself up, dust myself off, and start all over again!  Help me!  Give me free money!”  Tens of millions of kids have been raised by moms without dads, and they are mommified — they expect fulsome flattery just to get out of bed in the morning.

    If you doubt that, check out the photos of thousands of rich kids with Apple iPads sitting on Wall Street, trying to figure out what they’re supposed to be protesting.  The “Days of Rage” are really the “days of narcissistic rage.”  These kids are as phony and self-indulgent as the Obey-Me administration.  If you don’t adore them for giving us the finger, there is something wrong with you.  And why aren’t you paying for their health care for the rest of their lives?”

    http://www.americanthinker.com/2011/10/president_obey-me_is_not_being_obeyed.html

  • Michelle

    The pro-Obama Working Families Party of New York posted an advertisement
    on Craig’s list. They are looking for energetic progressives to help
    them to fight to hold Wall Street accountable. And the pay is $350-$650 a week depending on the responsibility and length of time of staff.

    If you believe in a cause, why do you need to be paid to protest?  Grassroots, NOT!

  • Anonymous

    What do you not understand about the banks having been FORCED by the government- led by the Barney Frank/Chris Dodd/left-wing pols- to put aside standard lending practices to loan money to people who DEMONSTRABLY could not pay back the loans? 

    Every time the federal government decides to implement policies of “social justice” (the definition of which is always a moving target), the UNINTENDED CONSEQUENCES are detrimental to the nation at large. And, people like Elizabeth Warren think that the government just needs to implement MORE policies. Let her deal with “social justice” in her own life and keep the heck out of ours.

  • Ralph

    Fuel taxes fund roads.  Warren is mistaken that corporations haven’t paid to use public roads.

    Commercial real estate taxes fund local education.  Warren is again mistaken that corporations haven’t paid to educate people.

    Oddly, Warren singles out American manufacturing by using an example of a “factory.”  Manufacturing is a shrinking percentage of our economy.

    She’s wrong about everything she said.
    Even her economic history summary is unsubstantiated.  Her points are simplistic and coincidental.  She would have been great as a consumer advocate campaigning against abusive credit card fees and dangerous paints on children’s toys.  As an economist, she’s an embarassment to those who are protesting something they don’t understand.

  • Anonymous

    Elizabeth is the Queen! Respect

  • Anonymous

    Please Titzy, you’re going to be a party pooper if you explain your case with facts and logic.

    We all know it’s more fun to slip on some birkenstocks and demand “justice” from everybody BUT the people responsible for the mess in the first place! 

    It’s easier to party when you don’t have to thinks so hard.

  • Anonymous

    McCain and other Republican predicted the failure of Freddie and Frannie, the Democrats creation, when Barney Frank and Chris Dodd were saying how secure they were!!

  • Republicans are Liars

    How far did you get through high school before you dropped out? Warren is someone who fights for idiots like yourself but you have no appreciation of what she is doing and why. Every one in ths country should be out in the streets with Occupy Wall Street. You are the 99%. You are the one who keeps voting people into office that turn against you. You are the one who has no knowledge or they wouldn’t draw the conclusions you do about what the probelms are. I am a job creator, a proud taxpayer and very happy people have taken to the streets to call out the shameful greed of Wall Street. When your house is taken from you for not paying medical bill or you signed a preditory mortgage maybe you will get the point then.

  • Anonymous

    Wall Street lobbyists are targetting Warren. Why would they do that if she was not a threat to them?

    Enough said.

  • Adam Smith

    GlovesDonahue…you show your age, and feeble mental state/capacity, due to that longevity that you’ve attained.  Suggestion – seek a doctor specializing in the treatment of dementia.

  • Anonymous

    You might also want to consider examining the Financial Crisis
    Inquiry Commission’s report on the mortgage crisis which said that Fannie and Freddie “contributed to but were not a primary cause of” the problem.  So, yes, more safeguards would have been good.  It’s unfortunate.  But if you’re looking to pin the blame on Fannie and Freddie you’re being overly simplistic.  Also from their report: “GSE
    mortgage securities essentially maintained their value throughout the crisis
    and did not contribute to the significant financial firm losses that were
    central to the financial crisis.”

  • Republicans are Liars

    I would really like to be there the day they take your house for medical bills or you lose it because you no longer have a job. It will take something that strong for you to get a clue to what this is all about, moron.

  • Republicans are Liars

    Shame on the Tea Party mobs that shout out stupidities to congressmen at town hall meetings. Again another person wh doesn’t understand whose side they should be on. Wall-marts just opening up you better go get your shopping done.

  • Anonymous

    Rev, I’m not placing the blame squarely on Fanny and Freddy. 

    You also have government forcing banks to make loans to people who can’t afford to pay their mortgage.  Where else is that going to end up other than a complete disaster?

    In every case that the government tinkers in the marketplace to socially engineer, the end results are always catastrophic.  And what does good intentions mean when the end result hurts everyone?

    I’m ok with sensible regulations, but government interference in the marketplace negatively effects everyone- both rich and poor. 

  • Catpowerny

    Are you insane? Glenn Beck the truth teller and Elizabeth Warren the intrigant?
    Weird upside down world :-)
    But if Glenn Beck predicted this, it is because it is the only thing his group of goldowning friends are afraid of: a peoples uprising!

  • http://twitter.com/Good_Lt Good Lt.

    The liberal protestor sh*tting on a police car summarizes what Elizabeth Warren’s philosophy gives our society.

    http://www.dailymail.co.uk/news/article-2047168/Occupy-Wall-Street-protesters-make-love-class-war-sex-drugs-tap.html

    Thanks, Elizabeth. We’ve heard quite enough from your party.

  • wawoo

    Government did not force banks to lend to people who could not afford to pay. The primary responsibility for the subprime debacle is the Finance and Real Estate interests. They came up with a way to realize immediate fees on every aspect of the transactions and then package and sell off the risk by falsely representing the derivatives as secure investments. Poor folk did not cause the mess , wealty financial interests did.

  • Pablo

    Hey, how’s that glorious Egyptian revolution working out for ya?

    http://www.bbc.co.uk/news/world-middle-east-15235636

    They wanted a military dictatorship and rampant civil unrest, right?

  • Pablo

    You mean the audience he’s constantly telling “Don’t just take my word for it. Do your own research.”?

  • Anonymous

    Duh! check my comments during its inception. I said it then that ‘why start something you can’t finish’. Nice attempt in digressing from the topic at hand, sounds like another wall street agent.

  • Pablo

    Cities are going to have major problems. Chicago is going to get bloody.

    Me, I don’t live in a city. They do NOT want to come out here and get stupid.

  • Anonymous

    Having Champagne Tastes On A Beer Budget Is Not Your Fault !! 

    It’s Wall Street’s And Everyone Else’s…But Not Your’s !!!

  • Anonymous

    “You are the one who keeps voting people into office that turn against you”

    See:  Barack Obama 2008 Election !!

  • Lloyd C

    but Dronetek is so very stupid that he won’t mention that he is so far right wing that Elizabeth warren who is center right — with the rest of the country — is far left wing

    Dronetek, why are you a pooseyboy?

    whoislloydc@gmail:disqus .com

  • Lloyd C

    no one. wah wah wah. keep cryin.

  • Lloyd C

    Michelle lies to the american people.

    They aren’t. anonymous people are

    Michelle lies to teh american people. Why should anyone respect or give credibility to Michelle or her comments when all she does is lie?

    Can I shave your taint?

    whoislloydc@gmail:disqus .com

  • Lloyd C

    Pablo is like an MSNBC host. too lazy to do his own research

  • Lloyd C

    Soros fights commies. those 4 revolutions? all against russian and commie interests
    Titzy is dumber than a sack of hammers.  AND A COMMUNIST

  • Lloyd C

    lane1 never mentioned that israeli’s are chanting for social justice via government intervention

    I guess jews want to be nazis or commies

    Lane1 is dumber than a sack of hammers

  • Lloyd C

    are you a child molester?
    whoislloydc@gmail.com

  • Lloyd C

    Michelle won’t post facts. all she has are lies

    and a taint

  • Pablo

    Then why are Fannie and Freddie in receivership?

  • Lloyd C

    colorado conservative won’t mention that wallstreet owns congress

  • Pablo

    If there’s criminal activity, what is Obama and his SEC doing about it?

  • Lloyd C

    He is 300 years old and has two brain cells. Lying on the internet is all he can do

    He’s fat. he’s old, and he can’t even get a call-girl

  • Lloyd C

    is Good Lt a domestic terrrorist? i don’t know. I’m just asking the question
    whoislloydc@gmail.com

  • http://pulse.yahoo.com/_WH3ZLMM7CUKUHUIMK4TKXW6SQE John

    My first thought when reading this article was that Glenn Beck predicted this more accurately.  Say what you want about Beck but he certainly saw this coming.

  • Anonymous

    You really like that Picture don’t you. It still could just be  someone representing an American posted by someone who is not. They could say “this is an American”. Which makes about as much sense as saying this represents someone from the Wall Street protest.

  • Anonymous

    Go GRIM !

  • Anonymous

    I’m not saying they didn’t have problems.  Major problems.  I understood Turk’s post to be suggesting (he clarifies below) that the mortgage crisis could have been averted had we enacted a regulatory overhaul of Fannie and Freddie.  And that’s not the case.

  • Anonymous

    Wall Street owns the incompetent community organizer!!

    They paid more to buy him than any other Politician!!

  • repwin2012

    Have you even visited an “occupy wall street” protest? Believe me, these are not people you can be proud of. A larger contingent of followers, I have never seen. And by the way you pompous nit wit, what’s with slamming people who shop at walmart. Sounds like you are part of the “1%”.

  • Anonymous

    Is there anything Beck did not predict?  Glenn Beck is a crazy person.  Crazy people tend to make a lot of predictions.

  • Pablo

    Name one.

  • Pablo

    So, you mean to say that Beck was right. Gotcha.

  • Anonymous

    Beck is a moron, he is talking about Caliphate and other BS, I’ talking about reality. By the way, good job in digressing.

  • Anonymous

    That never happened.  Not once.  It’s just a lie that Republicans fed to stupid people.

  • Pablo

    Lloyd C is like a pull string Chatty Cathy, only not as bright.

  • QWE

    BRING BACK MORE REGULATIONS
    BRING BACK MORE REGULATIONS

    BRING BACK MORE REGULATIONS

    BRING BACK MORE REGULATIONS

  • http://twitter.com/Good_Lt Good Lt.

    I’m rubbing your face in that picture.

    That protestor is not a tea partier, but if it were, it would become the face of the tea party movement on every hostile news broadcast in the country. MSNBC would have had a ten-part series on people like that in the movement – except they coulnd’t find any, so they edited the

    Look – if your little chums living on the street defecating on taxpayer property can’t act like civilized human beings, they won’t be treated like civilized human beings.

    So own this wayward protester using our taxpayer-funded police car as his toilet.

    He’s one of your ideological compatriots and allies. And since every individual at every tea party rally was de facto representative of the entire movement, we were told, then sauce for the goose is sauce for the gander.

    Cheers!

  • Lloyd C

    This coming from a coward who hides.

    uhuh

    whoislloydc@gmail.com

  • http://twitter.com/Good_Lt Good Lt.

    Umm…GREEEEEED! HALLIBURTON! CHENEYBUSH!@!!!111!!

  • Lloyd C

    opensecrets.org disagrees with you

    and they have facts

    you can’t even post your real name, let alone provide facts

    thats how useful you are to america. ‘trust me’ lolz

    are you george bush?
    whoislloydc@gmail.com

  • wawoo

    Titzy is ditzy. None of thebanks were forced to put aside standard lending practices. The banks cahanged the len ding practices so they could generate huge front end money on fees, sell the mortgages whose risk was then repackaged and sold as derivitives, obstensibly “insurance” but in reality grossly multiplying the risk and ultimate scope of loss.

  • wawoo

    No facts and no logic in Ditzy Titzy’s post. Or in yours.

  • Anonymous

    Elizabeth Warren is an academic with zero practical life experience.  This country’s economy is being choked to death by similar contol-freak regulators.  Her personality was traumatized when her father had a heart attack during her childhood and the family’s economic plight was severely stressed.  She has been acting out her anxieties ever since and seeking to externalize these by controling others.

  • Anonymous

    LOL

    And just what did she say that has anything to do with OWS? The big cause of the mess was the dem desire to put everyone regardless of they could afford it, into a house. Fannie Mae under Clinton, run by the former campaign manager for Mondale, decided to measure it’s performance on EPS rather than ROI and then paid its executives millions on the bad loans it made to unqualified people. And people like Barney Frank told Congress that there was nothing wrong with Fannie Mae, although it was then selling its loans to WS for them to sell them as CDOs.

    That caused the crisis.

  • Anonymous

    Umm, Community Reinvestment Act?

    “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been
    under increasing pressure from the Clinton Administration to expand
    mortgage loans among low and moderate income people and felt pressure
    from stock holders to maintain its phenomenal growth in profits.”
    -New York Times 1999

    http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html

    Read up on your history, instead of parroting simple talking points.

  • http://pulse.yahoo.com/_WNTTX6BKNQZEGPQUUBHUWYD5Q4 jeff w

    LOL@ Warren. Another left-wing neo-marxist crack pot with zero comprehension of the business cycle . A kook who`s rant was mindlessly approved by fellow travelers . You remember the rant, ” nobody gets rich on their own…” Such stupidity is de rigeur of the marxist left. This idiot believed a centrally planned economy in Washington paid for local city/state expenditures. This clown still believes in class-warfare when “classes” disappeared over 100 years ago. Steve Jobs? Quit school and got ” rich on his own” with HIS IDEA in a garage.Jobs and Wozniak started Apple by selling their stuff for start up. It was investment gurus Markkula and Rock who ponied up large amounts to ramp up production.

  • Republicans are Liars

    Where’s the link to it you lying taint.

  • Anonymous

    Boy, you sure ran away from your Barney Frank / Chris Dodd lie.

    So you’re now saying that the people who bought homes in 1999 began defaulting in 2007 and 2008, and that destroyed the economy?   Is that the lie that Republicans are feeding their morons these days?

  • Al E.

    No matter what time zone your in, it’s way too early to be drunk-posting.  Seek some help.

  • Republicans are Liars

    Oh please let me be there when they take your home away from you for not paying your medical bills or your wife’s medical bills. Let me be a fly on the wall when your children can’t get healthcare because of a preexisting condition. Grant me the opportunity to watch you cry like the little bitch you are when you get handed a pink slip. You are such a tough guy until the shoe drops on the other foot. Then you will be crying little victim too. This is just like the guy in TX who had a botched surgery and went to sue the doctor and couldn’t because the frivilous law suit act he had voted for in a referendum didn’t allow him to. He said, I voted against frivilous law suits. Mine is not frivilous.” Screw you, you worthless traitor. Go insert your face in some millionairs arse.

  • Anonymous

    Going to get?
    Google “Chicago shooting”.

  • Pit Boss

    “We aren’t amused, we are disgusted.”

    I’m sorry, but defecating on police cars is pretty freaking amusing.

  • Nancillarypeloslinton

    This idiot seems very vindictive and jealous of those of us who actually create jobs in this country. A lifetime of living off the taxpayers on the public dole must be responsible for the bitterness and anger she feels towards capitalism. Isn’t there a country like Cuba or Venezuela, etc. that she can go and “fix”?

  • Pit Boss

    BTW, nice choice of words there: ‘beheading, execution, and cannibilizing of the “rich”‘. LOL! Try being more dramatic next time you wacky Mormon you.

  • Pit Boss

    Yes, he plants the paranoia seed, then tells everyone to look it up on their own with the sites he’s optimized the topic for and the books he chooses.

    And by the way, there’s nothing new in his messages. People have been saying to buy gold and silver since as far back as I can remember (early 80s). It goes up in value when the economy is not doing well. That’s Econ 101.

  • Pit Boss

    No they don’t. Why would they? Why would they bother going out into some country-ass backwards place to protest Wall St. greed? And what would you do if they “got stupid” where you live?

  • Anonymous

    Are you actually proud that you don’t comprehend the missteps taken by both parties that led up to the sub prime crisis?

    Do you think that bubbles are created a year or two before they burst?  If that’s the case why not blame the Dems entirely since they had control of congress since 2006?

    It’s a shame because the lefts economic illiteracy and simple worldview makes it hard to take anything you guys say seriously, even though I agree with their social issues.

  • Anonymous

    He never put the real criminals on the chalkboard!  

  • Anonymous

    They didn’t want military dictatorships they voted for their leaders.

  • EponymusRex

    Glass-Steagall was repealed in 1999, and WE DESPARATELY NEED to REINSTATE THIS ACT — but for ourselves ALONE … NOT in conjunction with a US federally-backed and insured EURO bailout for European banks.  This is going to destroy our nation, which is already circling the drain, due to globalized piracy of our economy and manufacturing and labor sectors.  While a global Glass-Steagall may be what the world needs, we need to be SEPARATE from them, and have our own national Glass-Steagall.  We need to be free of their debts, as we cannot pay our own, and cannot support theirs.  Isn’t it apparent to everyone (with all the government shutdowns) that we’re at an impasse?  Why must we race off the cliff to our doom?

    http://www.youtube.com/watch?NR=1&v=uNPQ8EdddkM

  • Anonymous

    I understand that people like you are incapable of intelligent thought.  Problems always come up, in every area of government, and good people address them when they do.  That’s what government if for — elected leaders fix problems as they arise.

    When Bush took office, that stopped.  Government stopped fixing the problems because Republicans were in the majority.  Everybody knew things were out of control, but there was nobody minding the store.

    You have been systematically trained to look the other way.  This is what the Republican Party does to people.

  • EponymusRex

    Concerning Elizabeth Warren, she was treated with the special disdain American “good old boys” reserve for female prophets.  She aptly predicted the economic disasters we’re now experiencing, because she knew the lies that the economic system Greenspan and his cronies subscribed to:  the proven fallacy of Judy Waniski’s twist on supply & demand, concocted to give the GOP an edge in winning elections. 

    Bush Sr. called his supply-side “theories” (another word for fantasies), VOODOO ECONOMICS.  Dwight Eisenhower said that the oil men in Texas, and the businessmen who were believing this stuff and promoting these lies, were stupid.  Warren was virtually bound and gagged (while in office), to the detriment of us all, and we now suffer for lack of the protection she would have instituted on our behalves.

    Noam Chomsky made some interesting statements about these things, pointing to the Illuminati handlers who control the corporations and banks, who own the Congress and Presidency …

    “In the United States, the political system is a very marginal affair.
    There are two parties, so-called, but they’re really factions of the
    same party, the Business Party. Both represent some range of business
    interests. In fact, they can change their positions 180 degrees, and
    nobody even notices. In the 1984 election, for example, there was
    actually an issue, which often there isn’t. The issue was Keynesian
    growth versus fiscal conservatism. The Republicans were the party of
    Keynesian growth: big spending, deficits, and so on. The Democrats were
    the party of fiscal conservatism: watch the money supply, worry about
    the deficits, et cetera. Now, I didn’t see a single comment pointing out
    that the two parties had completely reversed their traditional
    positions. Traditionally, the Democrats are the party of Keynesian
    growth, and the Republicans the party of fiscal conservatism. So doesn’t
    it strike you that something must have happened? Well, actually, it
    makes sense. Both parties are essentially the same party. The only
    question is how coalitions of investors have shifted around on tactical
    issues now and then. As they do, the parties shift to opposite
    positions, within a narrow spectrum.”

  • Pit Boss

    When you were making as much money as banks and mortgage companies were making in the early to mid 2000s you didn’t need the government “forcing” you to make a loan. The banks and brokers and mortgage companies knew exactly what they were doing. My wife worked for one in 2002-2004 and they were forcing loans through at a break-neck pace just because of all of the money they were making. And that was BECAUSE they had the “freedom” to give anyone with a job a loan. Nothing was forced, dude. You’re smart enough to know that.

  • Anonymous

    You don”t know me or my history, doofus. I have been through a bankruptcy; I have been the single parent to three young children and lived off of Social Security Survivor’s Benefits while suffering humiliation at being in my forties and having NO marketable skills other than being a damned good wife and mother. I started my own business, when I could not find other work. 

    I LIVED for a decade without medical insurance for myself or my children. I raised three competent, intelligent, educated twenty-somethings and have had two of the three laid off for extended periods of time. One is an attorney who had to take a job that was NOT a law job, until she was able to find legal work again- she was Order of the Coif at a top law school. One daughter, with a Master’s Degree, who could run intellectual rings around the “writers” at this site, worked for years at Starbucks in order to have health insurance- she has the burn scars to prove it. 

    Cut your B.S. sense of entitlement and blame government intrusion for skewing the capitalist system. 

  • Anonymous

    Soros will lay down with anyone who will promote HIS increase in power. His only real belief is in HIMSELF. He will ally with anyone whom he can use.

    I respect Soros’ intellect and his skills at manipulation. He is a grand master of the chess board of the New World Order that he seeks, with himself at the top!

  • Anonymous

    Elizabeth Warren is NOT “center right”- she is a dangerous woman, more so because she couches her politics in “soft” words and platitudes.

  • Pit Boss

    I think Luckyirishgoddess basically nailed it and all you can say is “yes, but why isn’t Obama doing anything about it?” What can he do about it, Pablo? Why don’t you explain the steps he and the SEC can take to remedy the problem you’re finally acknowledging? Wouldn’t it take a major overhaul of “the system” that republicans would never budge on? Please, enlighten us.

  • Anonymous

    You are factually incorrect.

  • Anonymous

    Yeah, all the banks called it by its acronym- C.R.A.P(plan)- EVERY bank had to have one.

    Korean, if you can’t read the articles in the links people are kindly posting to try to “educamate” you, ask ANY REALTOR about the Community Reinvestment Act 

  • Lloyd C

    canada has more regulations and oversight and taxes than america

    we have lower debt, lower defecits and higher employment.

    we’re selling finished lumber to china. not logs. finished lumber

    think about that, QWE

    your talking points just went down the drain

    Why is QWE so stupid? is it because he is a domestic terrorist? i don’t know. I’m just asking the question
    whoislloydc@gmail.com

  • Lloyd C

    I don’t hide, you do like a princess

    why are you a princess? is it because you got touched by your daddy as a child? i don’t know. I’m just asking the question
    whoislloydc@gmail.com

  • Anonymous

    I give to you, “C.R.A.P.”- the Community Reinvestment Act Plan- that every bank had to have to be in compliance. Fannie and Freddie guaranteed those “LIAR loans” and banks off-loaded them in bundles with good loans. It was a game of “hot potato.” Barney Frank, Maxine Watters and their cronies covered up the malfeasance until the very end.

  • Lloyd C

    Titzy refuses to recognize that George Soros fights commies and russian interests

    Titzy fights George Soros.

    Logic dictates that Titzy is a commie.
    whoislloydc@gmail.com

  • Lloyd C

    who are YOU to say she is a dangerous woman? You’re an anonymous blip on the internet. LOLZ pooseyboy

  • Lloyd C

    I pay 62$ a month roughly in medical services plan premiums in my canadian province

    top that, far right wing loons.

    whoislloydc@gmail.com

  • Anonymous

    Yes, and Maxine Watters was offended when the bonuses to her cronies, like James Johnson, Rahm Emmanuel, and Jamie Gorelick (all BIG supporters of Barack Obama) were questioned.

    I am constantly amazed at the IGNORANCE of the Left- they don’t even try revisionism, they just practice denial.

  • Anonymous

    Dissatisfaction with Wall Street has been around for years. Its not surprising that people finally came to.

  • Lloyd C

    ;;are you a child molester? why do you refuse to answer the question?
    whoislloydc@gmail.com

  • Anonymous

    That’s hysterical- Soros “fighting commies!” You really aren’t too bright, are you?

  • Anonymous

    Do tell, what is an “intrigant?”

  • Ricci Dats Me

    psstt.. I have a secret. There was this country, once, that had a serious economic problem. They called it depressed-something-or-other, and it was mainly an issue dealing with some wealthy folks who made some bad mistakes that “trickled down” and hurt a ton of average folks. They fixed the problem by imposing a slew of regulations and increasing taxes. It worked and everything was fine. Then, about 60 years later, the leaders of this country started to roll back the regulations and a few decades later, a ton of regular people were losing their jobs, homes and money to a few wealthy people who made a few bad mistakes… I wonder what is the best way to solve the problem. My bet, it will take a few million more people to lose their jobs, homes and money before anything happens. The people will probably behave like kids and fight about it for a while until its just obvious that there is nothing else to do. This country has a streak of doing this, but they figure it out before too much bloodshed.

  • EponymusRex

    When Americans begin to figure out that they’re being played with this constant donkey-elephant show  — which may take awhile, because people love spectacle, a day at the circus, and hate to study and rethink things — they could become a problem.  They could become resistant to entering into this global financial universe, where America ends up holding the bag for everybody … and those who’ve been engineering these scenarios patiently for almost 400 years have thought of that.

    As incentive, they’ve been working the mid-Atlantic fault lines with more than one HAARP.  They’ve been working the lines around the Canaries and the offshore south of Spain; the lines around Riilke, Australia, Bermuda, the Gulf of Mexico, the Mississippi, and the ancillary faults attached to them.  There’s no need for them to work the ring of fire, as it’s constantly active.  But by working the Atlantic, they can set up frequency and resonance, to corrallate with the pole shift and the natural activity in the Pacific, so that the whole earth’s plate techtonics begin to slide, which will cause many disasters.  Sort of like an army crossing a bridge … if everyone’s steps fall together, the bridge will collapse due to amplification of resonance and frequency.

    Pertinent to America, a massive tsunami (3000 ft. high) would hit the East Coast in less than 8 hours, if the shelf underly the Teneriffe Island’s border collapsed; it’s already deeply and widely etched with fissures that cut across the end of the Island.  That would flood and destroy everyone living within 35 to 50 miles of the East Coast, and set off explosions in the thousands of nuclear reactors dotting the land east of the Mississippi.  The survivors would die off due to radiation; and there’d be nobody coming in to save us.  Remember Katrina and New Orleans?  That’s how Republicans treat the weak and injured, that they’d rather see dead.

    This would finish off the economic viability of the United States, and the nation would BEG TO BE LET INTO the one-world autocracy.  People will have no income, and will become desparate and betray each other, anyone they’ve ever heard of, and strangers passing through their towns.

    The US will do like China does, and declare marshall law, make class criminals, and sell their body parts off to pay the debt.  Oh, not the debt WE’RE IN NOW — that will be deemed unpayable — the WORLD’S DEBT, which we’re vouching to insure (as you read this.)  Greenspan’s promising this to the EU leaders in Poland.  This will grease the wheels for being invited into a bigger arena to play (for these men) and damn us, because with this will come “the marc” (the digitized, readable skincode or chip), and people will clamor to get it, so they can obtain food and a roof over their heads. 

    Take a deep breathe.  Sometimes for change to come, we must run TOWARDS our destiny, rather than away, because there’s nowhere to run, and forward becomes the only choice.

  • EponymusRex

    Whoops, I mean Geitner … Timothy Geitner’s off to Poland to finesse our becoming backer, insurer and leverager of the entire world’s debts.

  • Yy

    Beck is always right. That is why the White Man fired him. To shut him up. But they can’t shut up the truf.

  • Lloyd C

    why are you a communist?
    whoislloydc@gmail.com

  • Angelo R. Mozilo

    Wow, can’t wait till this nattering blondie nobody is totally forgotten in about 50 weeks or so (possibly much earlier if there’s anyone awake over with the Mass Dems). You cats sure know how to pick em…

  • Angelo R. Mozilo

    lol, burn

  • Anonymous

    Really?

    “Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits…..”Fannie Mae has expanded home ownership for millions of families in the 1990′s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”

    The above is from 1999…read the article:

    http://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html

  • Anonymous

    Thanks for the clarification.

  • Anonymous

    Look, nonpartisan investigations argue that, while Fannie and Freddie contributed to the problem, they were not the primary cause of the mortgage crisis.  It’s not that simple.

  • XXKHT

    the false reports of defecation and violence by the movement are spread by those whose sole intent is to defecate on the democratic process. You are gullible and vulnerable and I hope you wake up soon. Change is upon us. It won’t be quelled.

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