Last week, TIME had an excellent article on the 25 people to blame for the current economic crisis. I'd say roughly 1/4 of them were what I'd call Wall St execs. That doesnt jive with Obama blaming most of this on "Wall St. Greed" and ignoring Freddie/Fannie and his own parties deregulation activity. Bill Clinton was one of the 25 and has responded. Naturally he denies any accountability.
I think its PaulS that keeps blaming Bush for deregulation, its a convenient response, but not true. You can read Big Bill's response, but I'll post one highlight and you be the judge.........seems like a pretty strong root cause to me...


"Clinton ushered out the Glass-Steagall Act, which for decades had separated commercial and investment banking, and signed the Commodity Futures Modernization Act - which exempted all derivatives, including the now-notorious credit-default swaps, from federal regulation. His administration also loosened housing rules, which added pressure on banks to lend in low-income neighborhoods."


http://news.yahoo.com/s/time/20090216/us_time/08599187977400

here's the list...

http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350,00.html

"I did not have sex with...oops, I mean I did not have anything to do with this fiscal crisis! If I'm saying it, it must be true because I certainly wouldn't lie or cover up anything."

Interesting vote count. Most still blame Bush.

Interesting vote count. Most still blame Bush.

ignorance is bliss

How is that Alan Greenspan is ranked below the American consumer? WTF
number one is greed imo
a whole lot of good blaming is gonna do us now, time to turn things around and do something positive.

I'd say roughly 1/4 of them were what I'd call Wall St execs. That doesnt jive with Obama blaming most of this on "Wall St. Greed" and ignoring Freddie/Fannie and his own parties deregulation activity.

I counted 15 out of 25 that were involved in Finance and Mortgage....thats not a quarter of them.

Funny how you pull Clinton out of that rag tag team.......

I get a kick out of blaming HGTV. WTF, that's a joke.

I counted 15 out of 25 that were involved in Finance and Mortgage....thats not a quarter of them.

Funny how you pull Clinton out of that rag tag team.......

I didnt pull him out, he had a headline for denying any accountability.
Dad - I'll post this again -

"Clinton ushered out the Glass-Steagall Act, which for decades had separated commercial and investment banking, and signed the Commodity Futures Modernization Act - which exempted all derivatives, including the now-notorious credit-default swaps, from federal regulation. His administration also loosened housing rules, which added pressure on banks to lend in low-income neighborhoods."

Arent those 3 of the 4 major causes?????????? :deadhorse:

And I said "Wall Street", not finance and Mortgage. Is there a difference? Absolutely. Isnt it convenient that Obama doesnt mention that? Since when is Countrywide Mortgage Wall St???? Notice since Obama took office its "Evil Wall St" and ALL OTHER factors are thrown out. Dont you see this?

The reason I lumped them together is because if I'm not mistaken the Wall St. crashes were in result of Failed Mortgage Securities.....

and no need to friggin post it....again, I read it the 1st time

And all this time I was blaming Barney Frank. I do believe I owe this man an apology.

and he didn't inhale either.... :smokin: what a joke he is...


Best thing that's happened to him is now the wife spends
most of her time away from him....

that's where his smile comes from now.....

The American consumer eh...... Why not blame those who market to the american consumer. Specifically, those whose strategies perpetuated hyperconsumerism by cleverly manufacturing needs (no doubt the rotten fruits of supply side economics). They effectively turned adults in babies, cultivating private desires and fertilizing impulsve shopping, at the expense of civic and personal responsibilty.

and slick billing policies, whoever thinks some of this stuff up is amazing, you know those recurring charges you can never find a way to get rid of.

The American consumer eh...... Why not blame those who market to the american consumer. Specifically, those whose strategies perpetuated hyperconsumerism by cleverly manufacturing needs (no doubt the rotten fruits of supply side economics). They effectively turned adults in babies, cultivating private desires and fertilizing impulsve shopping, at the expense of civic and personal responsibilty.

You're blaming marketing for the downfall of personal responsibility?

You're blaming marketing for the downfall of personal responsibility?

serioulsy, thats whacked (cant believe I agree with Likwid).

heres an Obama idea for you. Lets limit the amount of TOTAL credit people can have at a time? based on your income, you can only owe a certain amount the government calcualtes based on your prior years tax return. That way the big government can protect you from your self! :bl:

the Government is already trying to control our Brain and
what goes into our Body.....

..... soon there will be thought police :hs:

They don't need to take control....all they need to do is log into Myspace, Facebook, and Twitter......they'll have all the info they'll need.

It amazes me that people are paranoid of Big Brother...yet spill their guts and post their whereabouts voluntarily on the internet.

You're blaming marketing for the downfall of personal responsibility?

Its the corporate marketing machine, which is only one appendage of hyperconsumerism that I believe has constributed to the downfall of personal responsibility. So yes, i would blame marketers in as much as I would blame the consumer. Capitalism throughout the history of this country's founding has progressed through several stages. Currently, we are in a hyperconsumer phase of capitalism. This phase is characterized by overproduction. Concocted needs must accompany this brand of capitalism in order for it to triumph. After all, these puerile goods have to be sold. ENTER the marketing specialist who frame these products as something "the consumer can't do without", associating these products with abstract emotional anchors like love and freedom. Shopping as freedom; personal and (and more importantly) private. Simultaneously, these marketing ploys are increasingly calculating to play to the "kid" inside of us. The "kid" that does not make responsible choices, responsible consumer choices that is. The kid, liberated from the contraints of reason and deliberation that one comes to expect from adults. Examples abound. Hyperconsumerism cannot exist without the baby-fication of adults and many of todays marketers are building the nursery for their corporate sponsors herding the consumer infants and branding them.

They don't need to take control....all they need to do is log into Myspace, Facebook, and Twitter......they'll have all the info they'll need.

It amazes me that people are paranoid of Big Brother...yet spill their guts and post their whereabouts voluntarily on the internet.

I saw this on the news this morning. Facebook is pursuing a policy which would declares ownership over ALL personal profiles, webpages and uploaded pictures. I don't thinks its official policy....yet. But the lawyers are hard at work...

Its the corporate marketing machine, which is only one appendage of hyperconsumerism that I believe has constributed to the downfall of personal responsibility. So yes, i would blame marketers in as much as I would blame the consumer. Capitalism throughout the history of this country's founding has progressed through several stages. Currently, we are in a hyperconsumer phase of capitalism. This phase is characterized by overproduction. Concocted needs must accompany this brand of capitalism in order for it to triumph. After all, these puerile goods have to be sold. ENTER the marketing specialist who frame these products as something "the consumer can't do without", associating these products with abstract emotional anchors like love and freedom. Shopping as freedom; personal and (and more importantly) private. Simultaneously, these marketing ploys are increasingly calculating to play to the "kid" inside of us. The "kid" that does not make responsible choices, responsible consumer choices that is. The kid, liberated from the contraints of reason and deliberation that one comes to expect from adults. Examples abound. Hyperconsumerism cannot exist without the baby-fication of adults and many of todays marketers are building the nursery for their corporate sponsors herding the consumer infants and branding them.

So who is at fault, Eve or the devil that talked her into the apple?
Eve had free will. So do consumers.

Simultaneously, these marketing ploys are increasingly calculating to play to the "kid" inside of us. The "kid" that does not make responsible choices, responsible consumer choices that is. The kid, liberated from the contraints of reason and deliberation that one comes to expect from adults. Examples abound. Hyperconsumerism cannot exist without the baby-fication of adults and many of todays marketers are building the nursery for their corporate sponsors herding the consumer infants and branding them.

So you're blaming your inner child for having an inability to correctly budget yourself?

You're grounded. No internet or tv for a month.

No internet or tv for a month.

Or rather, no MTV, BET.....and definitely no Fox News.

[QUOTE=likwid;665996]So you're blaming your inner child for having an inability to correctly budget yourself[QUOTE]

I run a financial literacy & budgeting work shops for poor kids throughout this city. I'm teaching others to restrain their child like impulses in face of consumer capitalisms marketing onslaught. The vast majority of children dont think long term, marketers know this and thus seek, and have been very succesfull, making children out of adults.

So who is at fault, Eve or the devil that talked her into the apple?
Eve had free will. So do consumers.

its the serpents fault, for he is the trusted misleader.

So who is at fault, Eve or the devil that talked her into the apple?
Eve had free will. So do consumers.

its the serpents fault, for he is the trusted misleader.

Your both Wrong...Its all Adams Fault for thinking with theWrong Head.....and we've been paying for it ever since.

[QUOTE=likwid;665996]So you're blaming your inner child for having an inability to correctly budget yourself[QUOTE]

I run a financial literacy & budgeting work shops for poor kids throughout this city. I'm teaching others to restrain their child like impulses in face of consumer capitalisms marketing onslaught. The vast majority of children dont think long term, marketers know this and thus seek, and have been very succesfull, making children out of adults.

if adults thought long term, you have about 1/2 the worlds population