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RJ_Daley

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #275 on: December 21, 2008, 01:34:27 PM »
This back and forth debate is futile.  What we have here is the most stunning and overwhelming real life real world example of greed and dishonesty and abuse of power run amock within the most powerful institutions of our nation within the people at the top.  Yet we have apologists denying with every fiber of their being, that the root of all this is human greed, and dishonesty, and thirst for power which needs to be reigned in and punished at those highest operative levels.  They would have you believe that somehow it is ourselves -the great middle class- through our desire to have an honest government that oversees, taxes for our needs, and protects us, that caused these massive financial crimes and malfeasonce and defalcations.  Never mind that our government has actually become one -by and large- whorehouse bought and paid for by an array of these powerful and wealthy institutional powerbrokers and special interests.  

Just in the last few days another stunning example of massive banking influence moving in and discombobulating any real reform or delaying reform to a feckless postponed time of 2010, so banks can continue to rape people already in dire debt.  This is your solution to this credit crisis?

Where have we seen this recalcitrant denial and apologist movement by the right extreme in behalf of the corporate oligarchy before?  I'm not going to say it.  

Dave, I am not an Obama apologist.  But, I do want him to have a fighting chance to prove himself.  You give him none.  I guarantee that if he falls into the same old, same old, you won't be hearing me advocate for his re-election.  I have NO DOUBT  that a McCain-Palin admin would not have had one tenth the transistion and start intitiative that Obama is putting together.  People like Phil Gramm would be behind the scenes pulling his strings because he has no sense of economics himself.  And she has the intelligence and education of a cheerleader.  But, there are those like you that will never even give a moments chance to allow the will of a significantly decided election in Obama's favor, nor a moments relief to your right wing propaganda.  You are not the loyal opposition when you spread venom like you do in our country's greatest time of need.  You could at least wait and see if your theory's of Obama corruption is real or just your own belief 'before a fact' is real to justify your invective.  You and your ilk lost - get over it.  You and your ilk lost for a REASON.  America is fed up with your brand of demagoguery.  We need solutions and they will not come from those whose noses were really in the trough, have slop all over them, and are now being dabbed with a dainty napkin by those apologists like you and Pat.  You are defending a corrupt and failed system.

One other thing... I have continued to harp on the need for a new national ethic.  I take it you don't believe in such or why would you argue so fervently as you do against reforms?  I ask that you atleast consider a few places that seem to have a different national ethic.  Take Sweden or Denmark.  Both are social democratic countries with a functioning capitalist regulated market place and a tax structure that you would be apoplectic to endure.  Yet, They seem to have a national ethic ingrained in their people.  Any hint of scandal in Sweden is a national disgrace (they have had very few but the ones they have had are almost obsessed over as disgraceful).  Denmark has a national ethic that puts the collective health welfare of its people on the highest pedistal.  They do not bow down to the false idol of greed.  Oh of course you can come up with some other lame arguement I'm sure to deny their satisfaction of their citizens.  But, try looking at what data is out there on their national character, happiness and ethical sense.  Such, may be anathema to you... I suppose, but the information is there if you have a will to digest it.  

Ethics, that's the one thing...
No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Mike Sweeney

Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #276 on: December 21, 2008, 02:23:02 PM »

Why does someone need two cars in Manhatten?


Craig,

I know a couple that have two cars in Manhattan. The Dad commutes to his office in Connecticut. The Mom commutes from the East Side to Washington Heights where she is an elementary school teacher. Now since they are in a "comfortable position", she was able to leave her family owned Wall Street business to teach elementary school in the worst neighborhood that she could find. Now her husband would rather her drive to that neighborhood and if she was to take the bus(s) for that commute, she would lose about 2 hours more a day with her own kids.

So in this one example, as a result of one Manhattan couple having two cars, 25+ kids in Washington Heights get a teacher with the enthusiasm of Pat Mucci and the intelligence of Rich Goodale and her kids get an extra 10 hours a week with their Mom.

In reference to your question about private schools, 15-18% of the student population at every private school that I know of in Manhattan have kids on scholarships from underpriviledged neighborhoods. My high school, a private Jesuit school in Philly, had a similar program and Michael Nutter, the current Mayor Of Philadelphia came through that program. I believe that Barack Obama came through a similar program at his high school in Hawaii.

I think you are watching a little too much Access Hollywood. As the great Philosopher Mary Kay Gallagher of Brooklyn once said to me, "We need rich people." Who do you think helps fund organizations like http://www.camba.org/camba/ which was started by my cousin in her kitchen and now touches thousands of people in Brooklyn. My cousin happens to be the daughter of Philosopher Gallagher.

Back to the topic in the title, the reason that I think Madoff is beyond anything that we have seen before, it is because of the pain that he has caused to these non-profit agencies.

Any other questions?
« Last Edit: December 21, 2008, 02:31:04 PM by Mike Sweeney »

Joe Hancock

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #277 on: December 21, 2008, 02:31:34 PM »
RJ,
I hope those who's wife was a cheerleader in either high school or college aren't lining up to show you a "new ethic".....

Message delivered without venom, of course....... ::)

Joe
" What the hell is the point of architecture and excellence in design if a "clever" set up trumps it all?" Peter Pallotta, June 21, 2016

"People aren't picking a side of the fairway off a tee because of a randomly internally contoured green ."  jeffwarne, February 24, 2017

Steve Lang

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #278 on: December 21, 2008, 02:57:33 PM »
 8) anti-cheer leader venon is available at your local drug store..
Inverness (Toledo, OH) cathedral clock inscription: "God measures men by what they are. Not what they in wealth possess.  That vibrant message chimes afar.
The voice of Inverness"

Joe Hancock

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #279 on: December 21, 2008, 03:00:49 PM »
8) anti-cheer leader venon is available at your local drug store..

Or by mail order from Wisconsin....... :P
" What the hell is the point of architecture and excellence in design if a "clever" set up trumps it all?" Peter Pallotta, June 21, 2016

"People aren't picking a side of the fairway off a tee because of a randomly internally contoured green ."  jeffwarne, February 24, 2017

Steve Lang

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #280 on: December 21, 2008, 03:03:03 PM »
 :o

or from india where politicians and cheerleaders battled in 2008

http://spicey-hot.blogspot.com/2008/04/politicians-and-iplt20-cheerleaders.html



or would you rather have this

http://latestsportsnews.wordpress.com/2008/06/26/ipl-cheer-leaders-forced-to-cheer-in-burkhas/



but lets put some perspective o this mind over matter issue

http://www.cheerhome.com/public/threecheergwb.asp

…. That's right, President.. Bush, .. Ronald Reagan and Dwight D. Eisenhower were cheerleaders who went on to become President. This is not surprising to those of us who have cheered, but it may not sit well with the people that just don't 'get it'. But let's forget about them for now, as we celebrate this victory that once again demonstrates the value of the skills learned from cheerleading.

According to Jim Nelson of GQ magazine, "[There is a] connection, the link between a political rally and a pep rally. {Bush] must understand that he learned something all those years ago, the important stuff. How to work a crowd, how to exploit a captive audience, how to come off wholesome and energetic and winning." Of course, we know that these are just a few of the many skills learned from cheering. But it is nice to see just how useful these skills can be throughout life. It stands as yet another affirmation of the benefit of participating in this wonderful sport.
Looking into the future, it is easy to see that our first woman president is not far away and many more will follow. So where will these great women come from? I would venture a guess that, just as with the men, cheerleaders will be well represented by women presidents. Since females outnumber males by so many in cheerleading and many recent male presidents have been cheerleaders, it just stands to reason that as women get their shot at the presidency that they will come from the ranks of cheerleaders.

It may be hard to notice the life lessons from cheerleading while you are training for competition, doing ab crunches or getting admonished by your coach for missing practice. However, those lessons will serve you well throughout life no matter what you choose to do. If you do want to become President of the United States then you can start your quest with the knowledge that you have an advantage over most of the competition. What a wonderful way to start!


Get over Sarah Palin threatening the boys club.. would you call her stupid to her face, or to Senator Hutchinson, R-TX

now , can this stupid OT thread die?
« Last Edit: December 21, 2008, 03:18:00 PM by Steve Lang »
Inverness (Toledo, OH) cathedral clock inscription: "God measures men by what they are. Not what they in wealth possess.  That vibrant message chimes afar.
The voice of Inverness"

Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #281 on: December 21, 2008, 04:26:51 PM »
Gee Shivas...I like the idea of a pro worker, pro union person, in charge of labor...it is NOT, after all, called the department of business...

As for bribes....they are used all the time.  I believe it has been the cornerstone in lessening violence in Iraq...we paid bad people not to shoot at us...and bribes are basically what got us into this financial mess...only the Wall Streeters prefer to call it "commission pay" or a "bonus"...regardless, payment to give someone the results they wanted....so what's the problem with a 5th grader getting a reward for getting A's?

You seem to have a world view that there's a handful of elites that should be running the world...that only those with the money and the finest pedigree should be in charge of anything.....just turn the world over to guys like you and everything will be just fine...sadly you are not alone...
 
No one is above the law. LOCK HIM UP!!!

corey miller

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #282 on: December 21, 2008, 05:34:26 PM »

RJ Daley says
"Yet we have apologists denying with every fiber of their being, that the root of all this is human greed, and dishonesty, and thirst for power which needs to be reigned in and punished at those highest operative levels."

Yes  let's punish those with wealth without regard to how it was acquired. 

All this arguing is really futile.  Clearly most all of the great private clubs were started and continue to be funded by those with "great" wealth.  Perhaps, those that hold the members of such clubs in such contempt should do the right and honorable thing and don"t be a phony, and suck up, and attempt to gain access to those clubs.

PLAY ONLY PUBLIC ACCESS AND MUNICIPAL.

Surely drawing the line at golf is a small price to pay ;D

Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #283 on: December 21, 2008, 05:40:28 PM »
Special interest? Is that all the American worker is to you, a "special interest"?  

My...my....one man's bribe is another mans commission or bonus...sorry the truth hurts you so much...I'll ask again...is there a problem with a 5th grader getting a reward for getting an A?

Answer to question...short term yes, long term no...highest tax rate should be in the neighborhood of 75%....

No one is above the law. LOCK HIM UP!!!

Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #284 on: December 21, 2008, 05:50:24 PM »
When many of the golden era clubs were founded the USA had no income tax...if I'm not mistaken...it was reinstated via the 16th Amendment....but by 1920 the highest tax rate was in the vicinity of 70% on the wealthiest...and it reached it's highest rate of just over 90% in the 1950's...in 1939 about 4 million people paid taxes...by 1950 nearly 50 million Americans paid taxes...

During the time, of what is now considered a "brutal" tax rate, we fought three wars, build the Interstate Highway system, and had some of the longest, most sustained growth and job creation ever...
No one is above the law. LOCK HIM UP!!!

RJ_Daley

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #285 on: December 21, 2008, 06:36:47 PM »
Quote
Dick, why do you only want to fight greed and dishonesty at the highest levels?  What about the lowest levels? I assume you are willing to turn a blind eye to that. Is this the "new ethic" of which you preach?  Dick, it's not new. It's called class warfare.

I had said we need a 'new ethic' in this country.  I didn't apply it to just what you call the 'highest levels'.  You have spun another half truth and ascribed it to your opponent very lawyerlylike.  Ethics apply to you and me.  A national ethic would be just that, a new collective set of values (or maybe an old fashion set of values)  Just not a greed driven power monger set of values whereby what we have been handed down is what we will have to settle for.  

The class warfare term is always hauled out in debatant style like you just did by the upper classes it seems to me, and I theorize that they really don't even understand what it actually means, rather than an abstract notion and accusation to use in sterile debates.  When the lower classes and masses haul out such notions, it is called 'revolution' and violence is not too far behind.  

BTW DAve, how close do you think we are to major civil disorder, upheaval and real class warfare?.  If Obama and his admin fail, where do you think the growing numbers of victimized folks will turn for the next promised remedy; Sarah Palin - Rush Limbaugh?  No apologies from me for inferring she is a light weight, Joe and Steve.  Those other cheeleaders had a body of experience, a bit beyond Sarah's level.  Dwight only commanded the greatest army ever assembled.  Even Ronnie Reagan had been associated with many circles of intelligent people for many years and a bit wider than Wasilla's library crowd before he was governor or ran for Pres.

Dave, I can remember serious civil disorder and was for much of it on the front lines in the streets manning the so-called 'thin blue line'.  I actually felt saw and even tasted what violent disorder is like  (on the scene of Sterling Hall - the second most terroristic act of domestic terrorism in this country's modern history), and I saw plenty more disorganized violence in the streets.  And, that was basically over a little old draft with youth activists who saw their personal exposure to be hauled into what they perceived as an unjust war, and ancillary social upheaval of civil rights, etc., as the catalyst then.  It wasn't about money and wealth per se, it was along a different class line in the 60s.  

Now, we are seeing a whole class of people (but not as you think of just "lower" classes i.e. poor people or students) but classes across a wide spectrum of socio-economic strata, victims of financial crimes perpetrated upon them by 'another class' of people alright.  But the class warfare you fear, if god forbid it happens, won't be poor folk VS rich folk.  It will be disenfrancised people of all persuations that lost their country and security to an oligarchy and conspiracy of power, only the fuel of which is concentrated corporate executive wealth buying legislative enabling power.  There are growning numbers of victims like Mr Madoff has now put on the street, that come from the wealthy and well educated, who are waking up and seeing a totally fetid system has robbed them too.  People are begining to see that they have been taken to the cleaners by unregulated and unethical classes.  And, I don't think they are in a mood for apologists, actually.  Many poor folk, and recently bankrupt and now foreclosed and unemployed folk, already know what many recently robbed and marginalized folk are starting to experience on upper ends of the wealth spectrum.  What happens when they see their lot is the same and join their political efforts together?  Are they suscpetible to another charismatic evil leader?  I fear so.

Those socialist and bolshevik movements you fear almost did get a foothold in the depression.  And, it was for the same reasons; classes of people being victimized and marginalized by forces of greed, concentrated wealth and power where many people saw those various versions of communist movements as an alternative.  We were very close then to loosing our country to those movements, if you ask me.  If it weren't for WWII, a very different scene may have played out in the US.  And, I would NOT have wanted to see that despite what you may think.    

So if you fear class warfare Dave, I would seriously be asking myself with which people of this country or the world and which class would you side if the crap hits the fan.  Will you be an apologist for the 'machine' that gave us this, and use mockery to try and put down those you think are wrong and are seeking change?  Or, would you be an activist for a new ethic for the 'people'.  

And, I wouldn't be too smug to believe that if you are on what you think is the power side of that equation with an army and a police force that you'll be protected.  You see, most of those folks in the various services come from the same under class, and the same middle class that has been disenfrancised, defrauded, and victimized by the power elite.  They won't be turning any weapons on their moms and dads, sisters and brothers so much...  Class warfare indeed, Dave.  

I'm glad I am old. :-\ :-[
No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Patrick_Mucci_Jr

Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #286 on: December 21, 2008, 07:39:19 PM »
Could you cite your source where 60 % were qualified ?




The study you cite disputes your own claim that 60 % were qualified.

55 % weren't qualified.

The statement is clear, ABOUT 55 % MIGHT be qualified.

That's a far cry from 60 % being qualified, but more importantly it reflects your continued intellectual dishonesty and your habit of making FALSE citations in the hopes of supporting your position.

Why do you continue to fail to answer the questions posed to you ?

RJ_Daley

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #287 on: December 21, 2008, 07:44:13 PM »
ditto.
No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Jeff Goldman

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #288 on: December 21, 2008, 07:48:32 PM »
Shivas,

Who was the better head of the SEC, Donaldson or Chris Cox?  Why?  Thanks.

Jeff
That was one hellacious beaver.

Patrick_Mucci_Jr

Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #289 on: December 21, 2008, 08:05:38 PM »

When many of the golden era clubs were founded the USA had no income tax...if I'm not mistaken...it was reinstated via the 16th Amendment....but by 1920 the highest tax rate was in the vicinity of 70% on the wealthiest

Those are marginal tax rates, and, you had to earn over $ 1,000,000 in 1920 for that rate to apply.  How many people made $ 1,000,000 in 1920 ?  Twelve ?

In addition, exemptions and deductions greatly reduced net taxable income, something you conveniently omitted.


..and it reached it's highest rate of just over 90% in the 1950's

Once again, those were marginal tax rates and they only applied to those making over $ 400,000.  How many people made over $ 400,000 in the early 50's ?

And, they too had the availability of an enormous number and amount of exemptions and deductions.


...in 1939 about 4 million people paid taxes...by 1950 nearly 50 million Americans paid taxes...

During the time, of what is now considered a "brutal" tax rate, we fought three wars, build the Interstate Highway system, and had some of the longest, most sustained growth and job creation ever...

That's a lie, the tax rates were not brutal.
Why don't you examine the rate structure, along with available exemptions and deductions before you spew more lies and false conclusions

I've come to accept that you can't tell the truth, and attempt to support your view by employing omissions, fabrications and lies.



Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #290 on: December 21, 2008, 08:06:11 PM »
Patrick...snap out of it!!  I didn't post that study....

But here is some of what that Wall Street Journal article said:

"RICK BROOKS and RUTH SIMON

One common assumption about the subprime mortgage crisis is that it revolves around borrowers with sketchy credit who couldn't have bought a home without paying punitively high interest rates. But it turns out that plenty of people with seemingly good credit are also caught in the subprime trap. (1)

An analysis for The Wall Street Journal of more than $2.5 trillion in subprime loans made since 2000 shows that as the number of subprime loans mushroomed, an increasing proportion of them went to people with credit scores high enough to often qualify for conventional loans with far better terms. (2)

In 2005, the peak year of the subprime boom, the study says that borrowers with such credit scores got more than half -- 55% -- of all subprime mortgages that were ultimately packaged into securities for sale to investors, as most subprime loans are. (3)

The study by First American LoanPerformance, a San Francisco research firm, says the proportion rose even higher by the end of 2006, to 61%. The figure was just 41% in 2000, according to the study. Even a significant number of borrowers with top-notch credit signed up for expensive subprime loans, the firm's analysis found."


The article went on to say perhaps this is why 80% of those with sub prime loans are still current on their loans...
No one is above the law. LOCK HIM UP!!!

Patrick_Mucci_Jr

Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #291 on: December 21, 2008, 08:20:09 PM »
RJ Daley,

I sure agree with you about the "being old" comment.

I don't envy young people today.

I think our generation will be the last generation that fared better than our parents, and that's unfortunate. 

Everyone wants their children to have a better life than they enjoyed.

You and others keep cloaking these financial issues in political blame.
Yet, the evil doers are both democrats and republicans.

Politics is inherently corrupt, at the local, county, state and federal level.
It's been that way since time immemorial.
Power corrupts and absolute power corrupts absolutely.
You know that, so why continue posturing that only one side is responsible for the dilema we find ourselves in today ?

Isn't anyone capable of independent thought ?

Does everyone have to cater to their special interest groups when trying to solve a problem.
Do you think the "pork" tied to TARP and other issue specific bills was appropriate ?

Congress is the worst.
They stifle good ideas and promote bad ones.
They waste money in unconscionable ways.

And yet, you defend them, or at least one of the guilty groups.

Give me a guy like Mike Bloomberg over a career politician every time.
At least he attempts to get the right thing done, no matter how unpopular it may be, with his own party or anyone else.

We need more independent thinkers, but, the two party system thwarts that.

They're so busy fighting each other that they can't see the real problems and they certainly can't come up with solutions to fix the very real problems we face.

The TARP bill should have had NO pork attached to it, and any Congressman that attempted to do so should have be vilified by the press, unfortunately, like homer refs, they only see things one way.

It's time to  throw all of these bums out of office.

The problem is, with the media probing every personal aspect of every candidates private life, who wants to subject their families to that type of abuse.

I don't care if a guy has a girlfriend or tells off color jokes, if he's intelligent, hard working and puts America first, they're my candidate irrespective of their party affililation and closet contents.

If we don't hang together, we're going to hang seperately.

Doug Siebert

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #292 on: December 21, 2008, 10:42:23 PM »
You continually cite articles as your sole source and hold them up as completely factual, well reasoned, and the Gospel.  But, I notice that you only present the articles that support your position, not the articles that refute your position.


For crying out loud Patrick, he cited Federal Reserve information as a source.  That's not good enough for you?

If this was a discussion about whether or not the US should attempt to send men back to the moon before 2020 I'd be willing to bet that once someone caught you up by providing evidence against a position you'd taken you'd ask them if they have personally been to the moon, suggesting that if not they aren't worthy to have an opinion on the subject and we should only listen to what Neil Armstrong thinks!
My hovercraft is full of eels.

RJ_Daley

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #293 on: December 21, 2008, 11:22:07 PM »
I only just wish for once that Pat, Dave, Cory, and a few others would quit saying I'm just accusing one party, for the sake of trying to make their point.  I can't imagine any independent minded person reading my posts not coming to the conclusion that I have lumped all those that are abusing the public trust and pillaged shareholders stakes into a rogue ruling class in a non-partisan manner. 

Yes, I voted for Obama.  Yet, I wrote in black and white just a few posts ago that I'm not so enamored with him that if he plays the same old same old game I wouldn't work hard against him next election.  But, I did say give the man a chance, because those of you that dislike him and his policies, LOST The Freakin election!  He isn't even in office and some are trying desparately to subvert him.  Time to let those that won have a shot at governance. 

Most of my post above is questioning or maybe cautioning about what really happens IF these disgusting greed and power games keep getting played, and making more victims from ALL strata of people, some rich (formerly) and many poor continually.  Do you not believe a reaction will eventually come in the wake of more futile or coneiving unethical activity;  and it won't be pretty?  Are you that naive?  I am saying that some of these apologists for the pirate class that have ruined things to maybe rethink who they want to come out of this mess whole.  The middle class, reps and dems irrespective, need to see relief and regain confidence that this isn't just a continuing big rigged system.  They have no evidence of that at this point given TARP obscurities and such.  And we see everyday how bad it has been with new revelations and new scandals continuing to surface like Madoff.  Do you think Madoff is the bottom line and end of it?

I am fully aware that greed, lust for power, and selfishness afflicts all parties equally.  The congress is a whorehouse on both sides of the isle.  All I've been saying is we need a whole new NATIONAL ETHIC.  Not one confined to one party or the next.  Those in positions of power and influence, be they making the laws and overseeing regulation, or those running corporations for shareholders need to have new ethics.   If they can't be persuaded with pleas for basic morality (which have bounced off their heads like teflon) then draconian regulation needs to be imposed.  Money must be gotten out of politics.  Special interests (all) need to be banished from the halls of congress.

SOX shmocks - they brought it on themselves and more is coming because they brought us this mess where current regulation didn't stop them.   Criminals need to be identified and go to prison - I don't care if they're dems or reps.  They have sold our nation out!  Even past the devistating human toll of 9/11, the financial toll from just these latest scandals alone surpasses the financial devistation that ocurred on 9/11.  Our real enemies are sitting back laughing and believe (if not know) we are killing ourselves with lack of a national ethic to first do the nation's people's work. 
No actual golf rounds were ruined or delayed, nor golf rules broken, in the taking of any photographs that may be displayed by the above forum user.

Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #294 on: December 22, 2008, 10:45:32 AM »
For Pat Mucci...

http://news.yahoo.com/s/ap/20081222/ap_on_bi_ge/meltdown_secrets


Apparently, the woman that is providing over site on the bank bail outs for Congress, can't get any answers from the banks as to where the money is going....
No one is above the law. LOCK HIM UP!!!

corey miller

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #295 on: December 22, 2008, 11:15:32 AM »


For Craig Sweet

I am not saying you will like the answer but do you have any reason to doubt the following?

"We manage our capital in its aggregate," said Regions Financial Corp. spokesman Tim Deighton, who said the Birmingham, Ala.-based company is not tracking how it is spending the $3.5 billion it received as part of the financial bailout

Craig Sweet

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #296 on: December 22, 2008, 11:45:06 AM »
Corey, I have no doubts about that answer...

Interesting the amount of scrutiny and over site, and detailed plans for use of the auto bail out loans...versus the near total lack of over site and details for accounting for how the banks have used nearly one trillion dollars...

Given that I have little faith any of the bank bail out money will ever be paid back, and given the potential for hyper inflation due to the printing and dumping of trillions of dollars into the market....I truly feel this bank bailout was a huge fraud and will bite our ass hard.
No one is above the law. LOCK HIM UP!!!

Lou_Duran

  • Karma: +0/-0
Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #297 on: December 22, 2008, 04:20:06 PM »
Whose "facts" do we believe?  Craig Sweet's taxing the rich is not bad for job creation and the economy"?

Or Gov. Paterson (D-NY) when he said "that increasing taxes on the rich should be 'the last place you want to go, because it automatically kicks in less job creation and leads to people leaving the state ...' " (NYT, 12/21/08, pg. 37)?

Or long term demographic trends showing outmigration, slower job formation, and lower economic growth in states characterized by high taxes, heavy regulation, large public sectors, and heavy Big Union participation?

In this day of the internet, self-publishing, and the proliferation of self-described "think tanks" with all sorts of long-winded, "common" or "public interest" titles largely misreprenting who they really purport to represent, it is dangerous to provide credibility to any of the cited "studies" without in-depth analysis of the data, methodology, and conclusions.  One must not only look at the authors, their ideology, and who funds them, but also, to whether their claims make any real world sense.

For example, those who spouse Big Government solutions to our personal and economic problems, if pressed, will confess that there are other people besides the rich and Republicans who are greedy and subject to lapses in ethics.  For better or worse, we are all imperfect people who struggle with any number of the seven deadly sins.   Greed, greatly overrated as a culprit among these in my estimation, is hard-coded in all of us; it is a very important component of our survival instinct (ref. David Scmidt's comment about why socialism can never work).

Now, in economic terms, if someone taxes 70% of your production, and, if for the most part you've satisfied your basic needs, how do you think a reasonable, common man will respond?  Do you think that perhaps that person might choose to do something else besides that activity for which he will only get to retain 30% of its profits?

The whole idea of supply side economics is not as Goldman and others who ridicule it as "trickle-down", but the common sense, observable, and demonstrable human behavior that when we are allowed to keep more of what we produce, we will produce more.  It is happening throughout many parts of the world who were previoulsy socialist basket cases (including many of the former Soviet republics). 

Go one step further and evaluate how government spends our money: bridges to nowhere, aid to despots that never reaches the intended recipients, wars that do not have wide support, farm subsidies to rich corporations, political contributions and legal conduits to organizations with agendas many of us on opposite sides of issues despise.  I think it is reasonable to say that a substantial percentage of our population correctly believes that we as indiviudals spend our money more efficiently than government does on our behalf.  If this is so, how can we believe that more money in governments' hands can be good for the economy?

If someone who is profficient in match can demonstrate to me how decreasing the proportion of the economy that is more productive while increasing the proportion that is less so results in greater production, I would like to see it.  Until then, I will always prefer having a little more even though my neighbor might have a whole lot more than me, to having a little bit less so long as my comrades are similarly situated.  Envy, in my opinion, is a far more serious, consequential shortcoming.
« Last Edit: December 22, 2008, 04:21:40 PM by Lou_Duran »

Craig Sweet

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Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #298 on: December 22, 2008, 05:07:58 PM »
Lou...I believe I posted a link to a study done by someone at Princeton University that would conclude the Gov. is wrong in his assumptions...

Here it is again...http://www.workingfamiliesparty.org/2008/11/fact-check-what-happens-when-income-taxes-on-rich-are-raised/
No one is above the law. LOCK HIM UP!!!

Craig Sweet

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Re: Bernie Madoff's $50 Billion Fraud thru country clubs
« Reply #299 on: December 22, 2008, 05:21:26 PM »
Lou...you say it is reasonable to believe that most Americans thing individuals can spend money more efficiently than the government can....unlike Mucci I will not ask you to post proof or anything....maybe people believe that and maybe they don't...This I do know...the government can build streets, provide fire and police protection, deliver mail, provide health care, educate our children, more efficiently and cheaper than an individual....

This I will give you...the story that the conservatives have been able to tell over the last 30 years...government is bad, taxes are a burden, greed is good...has been ingrained into the minds of an entire generation....HOWEVER...just as we saw 80 years ago as this country came out of the Roaring 20's into the Great Depression, this story has a very, very bad ending for most Americans...and fortunately, the awakening from that is occurring....witness the 2006 elections and the recent election of Obama.....this time the new story is going to be written by the people....not the elites in the Republican party....not the corporate execs.  

No one is above the law. LOCK HIM UP!!!