I see how it works.......

I voted. Until the next election then yes you are correct, no vote no bitch.

 

Constitution toilet paper, ok, ill look to you for my political advise andforum etiquette

 

You can't successfully argue the point that the economy is in the toilet and that Obama has done little to change it. But, you mock the Americans who think Obama should be doing a much better job. I believe I'm one of those who have experienced an alien encounter since I don't know what planet you're from.

 

Hum? I don't recall making this comment about toilet paper and the Constitution nor the context nor what the subject may have been or if I was even being humorous but apparently if I did say something to that effect, you sure took offense. It kind of reminds me of the way some radical Muslims start killing and burning things when someone spreads a rumor that some Qur'an is being desecrated. It's a little nuts to hold such strong feelings about inanimate objects in my opinion. Qur'ans, bibles, constitution documents, are nothing more than paper, ink, and glue. You really can't destroy an ideal by burning a piece of paper that has that ideal written on it nor is that piece of paper anything more special than any other piece of paper.

I have my own theories about why some people tend to be so emotionally attached to authority whether that authority is a heavy-handed father, a religious book, a military organization, or some national doctrine. While I am not a trained psychologist, I have noticed that some people really, really need a strictly defined line between black and white and having something in writing gives them a concrete guidebook that they can adhere to. Ambiguous or gray concepts scare them since there is no defined answer they can attach themselves to. It really speaks to a lack of imagination and probably starts at a very young age. As adults, I think these people gravitate towards the political Right because they are so susceptible to the influence of an external authority.

Perhaps this explains your reaction to what was probably an innocuous comment either real or imagined. Either way, I can't get too excited about something you can't seem to forget.

 

Ha ha ha Now who is mocking. At least I live in this reality instead of the manufactured one you prefer to live in.

 

You dont recall. How convenient. Here ill help you, paraphrase but try to help.........
The constitution is antiquated
The constitution remind me of toilet paper
I agree with everything alan grayson says
I want to perform oral sex on barry sanders
Debbie wasserman shultz is my role model
Barry sanders is my hero
?.....

Just a few. Step up and own it or buy one of my replacement spines. Own it bitch.

 

Barry Sanders won the Heisman. Try Bernie Sanders.

 

Sure...no one said it wasn't. However, both houses of the 103rd Congress (1992-1994) were controlled by the Democrats...and nothing got passed unless the Democrats wanted it passed.

Just as they were being voted out of office, the Democrats changed Jimmy Carter's benign Community Reinvestment Act (CRA) to make it much more powerful. It gave banks a 1-4 CRA rating.

The GLB bill they passed only allowed banks with a CRA rating of 3 or higher to participate in investment banking. The only way a bank could get a CRA rating 3 or higher is by making home loans to "underserved" communities...aka bad loans to people that can't qualify.

To make matters MUCH worse, when Democrats got back in control of the House, they passed laws requiring the GSA's (Government Sponsored Enterprises)...aka. Fannie Mae, Freddie Mac to purchase these loans to get them off the banks books so they could make more bad loans.

The GSEs were considered AAA investments due to their Government backing. However, the securitized CDOs (Collateralized Debt Obligations) weren't worth the paper they were printed on. These "AAA" investments were nothing more than junk bonds, but the Government backed them and they (and derivitives based on their supposed "rock solid" foundation) were sold all around the world...all so Democrats could BUY VOTES!!!

To make matters even worse, the IDIOT Liberals forced the SEC to adopt the FAS-157 "Mark-to-Market" rule. Since no one knew how to price this junk, no one would buy them. The Mark-to-Market rule valued these securities at ZERO, because the market became inactive.

The CDOs still had value (cashflow), but because the Liberals screwed everything up so bad, no one wanted them. Since the banks were paid for their loans with GSE backed CDOs, they had no collateral to make new loans once the Mark-to-Market rule valued their holdings at ZERO. Credit markets around the world froze up and the markets went into a death spiral.

These idiot Democrats could care less...they got what they wanted...VOTES!! They then turned around and blamed it all on the evil Wall Street and "Too Big To Fail" banks. It amazes me that Dodd, Frank, and Schumer aren't rotting in jail. That's the travesty of this mess.

Trivia Question: In what month/year do you think the Mark-to-Market rule was adopted/recinded?

Hint:



Answer...

Adopted - 15 November 2007 (Dow Average: 13,000)
Recinded - 09 April 2009 (Dow Average: 8,000)

 

Barry Sanders RULES!!!

 

But, Bernie Sanders DOESN'T!!!
View attachment 2153

 

My daughter went to school with him. The best I could manage was Ken Dryden. A lot more successful, but a lot less known at least on this side of the border.

 

I am laffin at myself lol. Yes, weekend at Bernies. Too funny. Thanks RLM

 

So you simply put your own words in my mouth. I guess I choose to spit them back in your face. I don't believe I know Barry sanders either but feel free to say that I do. Again, the more you post, the more you come off as an old drunken fool. Keep posting, you are entertaining.

 

Alcohol brain syndrome. I bet it's a bitch.

 

Maybe not Barry, but Bernis ........ Oh, and the other two may even be worse!

 

Who is Bernis?

 

Oh, sorry, I made a typo. You want that I should start pointing out all your typos (and other mistakes)?

Regardless, I think you and the other got the point.

 

I'm sure once people actually figure out what you were trying to say, they probably regret the extra effort it took.

 

What? You cannot understand your own posts? Loverly!

 

I didn’t realize Liberals had gained control of The Financial Accounting Standards Board.

Mark to Market accounting had been around long before the financial crisis. Originally limited to brokerage businesses; in the 1980s, after regulations were loosened under Carter and Reagan, other financial institutions (Banks, Savings & Loan, Investment Banks, etc) began adopting the practice. This created a problem being these businesses’ investment portfolios became very complex and mark to market was not being applied in a standardized consistent manner. One company would mark all their investment securities to market while another may mark only some or none. This made the comparability of these companies financial statements difficult. FAS 115 issued in the early 1990s provided guidance on classification, valuation and reporting of investment securities on financial statements. It broke investment securities into 3 categories.

1. Trading – temporarily held securities intended to be traded in the near future. Unrealized gains and losses based on market value determined as of the end of the reporting period reported on the company’s Income Statement.
2. Held – securities intended to be held to maturity. Valuation based on amortized carrying cost
3. Available – securities intended to be held more long term but sold before maturity. Unrealized gains and losses based on market value determined as of the end of the reporting period reported on the company’s Balance Sheet as an adjustment to equity.

FAS 157 was developed to provide valuation guidance in response to Enron and other such scandals where companies took advantage of inactive markets by creating mark to market valuation methods that produced the highest possible unrealized gain and highest possible valuation of their securities. In other words the intent of FAS 157 was aimed at preventing mark to market being used to overstate income and overstate the value of held securities.