And those Bear Stearns executives. What of their pay and golden parachutes?

Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.

Seems to me that Bear Stearns meets that standard.

I must admit I do like how you have relegated caredmanl to an “it”.

Silverado Savings and Loan
Silverado Savings and Loan collapsed in 1988, costing taxpayers $1.6 billion. Neil Bush, son of then Vice President of the United States George H. W. Bush, was Director of Silverado at the time. Neil was accused of giving himself a loan from Silverado, but he denied all wrongdoing.

The US Office of Thrift Supervision investigated Silverado’s failure and determined that Bush had engaged in numerous “breaches of his fiduciary duties involving multiple conflicts of interest.” Although Bush was not indicted on criminal charges, a civil action was brought against him and the other Silverado directors by the Federal Deposit Insurance Corporation; it was eventually settled out of court, with Bush paying $50,000 as part of the settlement, as reported in the Washington Post .

Silverado’s collapse cost taxpayers $1 billion.

There’s your GOP 1SCAREDMAN, aren’t you proud???

That’s a question I asked also. It makes sense to me, but what do I know. Another question I have is how the Feds can lend our tax monies to these corporations without Congressional approval? I thought that Congress was in charge of how our tax dollars are spent.
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For all we know, maybe some saner lenders are doing this. Maybe we’re being too simplistic, or just too reasonable. Dunno. I’m a little surprised no one has tried to explain this better here. No experienced mortgage brokers around today?

I can understand why homeowners who bit off more than they can chew are in trouble, but what did the really big investment banks do? I get the feeling they were trading these bundles sub-prime mortgages and using them to inflate their balance sheets, which in turn allowed them to loan even more money out.

In effect, were they saying, “Hey, I’ll take your bad check and pretend it’s okay if you take my bad check and pretend it’s okay, and we can both make it look like we have more money than we really do”…?

Dunno.. did they over-leverage themselves, and now that the underlying securities – the bundles of bad mortgages – are really starting to smell bad, it’s having a domino effect in the financial world?

It seems to have a two sentence limit in it’s ability to write and they rarely make much sense. It is beyond a doubt the lamest troll to have ever shown up on TP. I don’t understand why TP keeps pulling it’s posts, but allows it to stay.

Perhaps that photo was chosen specifically for that.

That’s a question I asked also. It makes sense to me, but what do I know. Another question I have is how the Feds can lend our tax monies to these corporations without Congressional approval? I thought that Congress was in charge of how our tax dollars are spent.

But, then again, I suspect that I’m more cynical than you are.

Since you asked, here’s something that should interest you.

http://www.barackobama.com/pdf/ObamaBlueprintForChange.pdf

It’s a bit long, but if you have a printer, you can print it out and read it as you wish. It’s well organized, so you can look up any issue you are particularly interested in if you don’t want to chew on the whole thing.

If you’re reading it online, scroll to page 10 to get to the “meat” of it — most of the beginning is beautifully formatted covers, table of contents, introduction, etc.

In fairness, I will point out that Hillary also addresses a number of issues on her website, but only some of the issues outline what she plans to do — the rest just say why she is qualified to handle them. And she hasn’t folded any of her plans or positions into a PDF like this.

McCain also has issues listed on his website, but like Hillary, his are also a mix of speeches and actual plans.

What’s interesting to me is looking at what each candidate chose to include on their site as an “issue”. Obama’s and Clinton’s lists of issues are pretty similar, but McCain’s is a bit different. He’s got all the GOP required topics such as sanctity of life, second amendment rights, tax cuts, and several points dedicated to beating the rest of the world up to ensure our “security” — but his weirdest issue was “America’s Space Program” (???).

you’re the big winner!!! your tootsie-pop wrapper hat is in the mail.

idiot.