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Thread: 2012 Elections - Page 506

Post#12626 at 03-09-2013 12:51 PM by JDG 66 [at joined Aug 2010 #posts 2,106]
03-09-2013, 12:51 PM #12626
Join Date
Aug 2010

Quote Originally Posted by pbrower2a View Post
...I knew that the American economy was headed for a crash, perhaps even as bad as that of 1929-1933, based upon an article on bad lending practices and rating of 'bundled' loans.... in Business Week Magazine in 2005...
-Or, you could've read this article in 1999 in the NY Times:

Quote Originally Posted by JDG 66 View Post

In 1999, The New York Times reported that with the corporation's move towards the subprime market "Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980s."
....which predicted the housing bubble. But that really wouldn't support what Ole PW is tryiong to push, would it?

Quote Originally Posted by playwrite View Post
No, my response was explicitly to your assertion that one needed to 'go through a lot of hoops back then to obtain a mortgage.'...
-This is what PW posted:

Quote Originally Posted by playwrite View Post
I can understand your ignorance back then - living in someone else's trailer and never having gone through any bank loan application let alone a mortgage. But years after the housing bubble? That ignorance is just a combination of your laziness and stupidity.
So that makes no sense unless PW is ignorant of the respective circumstances. PBrower2a is the one who lives with his mom and dad because he can't support himself. I guess that unlike PW, he doesn't have a trust fund.

Quote Originally Posted by playwrite View Post
...PBrower is one of the smarter people on this forum.
-Uh huh.

Post#12627 at 03-10-2013 09:24 AM by pbrower2a [at "Michigrim" joined May 2005 #posts 15,014]
03-10-2013, 09:24 AM #12627
Join Date
May 2005

Quote Originally Posted by '58 Flat View Post
But isn't background checks inherently saying that someone is guilty of something until proven innocent - an alien, tyrannical concept?
Employers routinely do background checks for criminal records and credit histories. This is especially so as fewer people make things and more people manage assets easily converted to personal use, command objects that if handled incompetently or maliciously can lead to a costly lawsuit, or have activities involving some intimacy with their personal charges. People with fecal credit ratings are much more likely to embezzle cash or steal merchandise to meet their exaggerated needs or 'solve' their improvidence. Habitual drug or alcohol offenders can make any delivery of merchandise into a tragedy that pits a company against some ambulance-chasing attorney who tells a sob story about the loss of some loss of a child to some truck driver rendered incompetent or inattentive due to some chemical haze upon his mind. Of course nobody wants a sex-offender as a schoolteacher. People could get away with such mistakes when America relied more heavily upon manufacturing, mining, and construction and less upon bureaucracies for employment. Selling bricks pilfered from a construction site or spark plugs 'lifted' from the auto plant is not an easy way to get money for heroin or to support a gambling habit. Selling a high-priced watch, purse, or jewels taken from one's employer is a far easier way than supporting or covering for a bad habit. In Silicon Valley the latest computer chip (high value to size, as if jewelry, and highly fungible) was a favored commodity of thieves.

I have worked for a department store whose security apparatus operated on the assumption that every employee is a thief waiting for an opportunity to get away with some larceny. Such degrades work that itself ensures poverty and humiliation and makes the company seem a gilded cage.

Hey, let's carry this to its "logical" conclusion: The soon as everyone is born, they are raised in prison until they can prove they are law-abiding - and then and only then are they to be released.
The 'logical conclusion' is to make all but members of elite families into serfs in a New Feudalism that grafts the repression of Communism onto a plutocratic order. The serfs are obliged to endure poverty, humiliation, and gross uncertainty of life with the obligation to give effusive praise of their exploiters and abusers out of fear of the consequences of any slip-up. The common man is obliged to be a Pangloss, but not so much on the misfortunes of others -- but on the misfortunes of oneself.

...We are just beginning to see a conflict between our economic order and government responsible to the People.
Last edited by pbrower2a; 03-10-2013 at 01:20 PM.
The greatest evil is not now done in those sordid "dens of crime" (or) even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered... in clean, carpeted, warmed and well-lighted offices, by (those) who do not need to raise their voices. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern."

― C.S. Lewis, The Screwtape Letters