25 People to Blame for the Financial Crisis

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pjbogart
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25 People to Blame for the Financial Crisis

Postby pjbogart » Tue Feb 17, 2009 11:42 am

Internet lists and rankings are a scourge on our society. They range from pathetically over-simplified to pathetically irrelevant... and I should know, because I manage to click through just about every one of them, from "bands that ripped off U2" to "cutest animal videos of 2008." So if you want to know which University consumes the most beer or which guitarist does the most shredding, it's all here at your fingertips.

Time Magazine's "25 People to Blame for the Financial Crisis" won't make you any smarter, but it's fun to click through and rank all of the dopes that got us into this mess as well as a brief synopsis of how that particular greedy bastard (or bastardess) managed to ruin your child's future while he or she was sipping martinis on a golf course.

25 People to Blame for the Financial Crisis

Shovel Ready
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Re: 25 People to Blame for the Financial Crisis

Postby Shovel Ready » Tue Feb 17, 2009 11:55 am

How did Chris Dodd and Barney Frank escape this list?

Image

Ned Flanders
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Re: 25 People to Blame for the Financial Crisis

Postby Ned Flanders » Tue Feb 17, 2009 12:01 pm

LOL! LOL! LOL!

Strange, I guess Time didn't want to inclued any FOOs:

Let's not forget Jimmiah " I hate Jews" Carter, Bubba and Jamie Whorelick.

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Re: 25 People to Blame for the Financial Crisis

Postby O.J. » Tue Feb 17, 2009 12:05 pm

Frank Raines is on the list, numbskull.

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Re: 25 People to Blame for the Financial Crisis

Postby O.J. » Tue Feb 17, 2009 12:08 pm

Bubba's on the list, too. You might want to edit your post again.

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Re: 25 People to Blame for the Financial Crisis

Postby Ned Flanders » Tue Feb 17, 2009 12:31 pm

One can never be too thin or blame Bubba too often.

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Re: 25 People to Blame for the Financial Crisis

Postby pjbogart » Tue Feb 17, 2009 12:42 pm

Shovel and Ned bring up an excellent point, though. Why are there so few politicians on the list? It seems like the nature of a CEO is that they're looking out for short term gains with little regard for the long run. If you were the CEO of General Motors in 2002, you might have said, "Oil is likely to rise dramatically due to unrest in the Middle East, an oilman in the White House and a non-existant anti-trust/regulatory attitude throughout our goverment. Perhaps it would be wise to plan for the future by focusing on smaller, more fuel-efficient cars or investing in R&D for hybrid technology. But that will cost billions and my retirement package will take a dump." You can't blame a dog for acting like a dog.

Most of these people made some terrible decisions that were aimed primarily at short-term profits but at the time the decisions didn't seem so terrible. Hindsight is 20/20. The goverment, with more robust enforcement of existing laws could have prevented most of this mess from ever occurring. Republicans have always been big on deregulation, but the sub-prime lending houses gave plenty of money to Democratic politicians as well.

Chris Cox, George W. and Bill Clinton all made the list, but the attitude favoring deregulation went much deeper and included politicians from both sides of the aisle. Didn't House and Senate Leaders such as Daschle, Gingrich and DeLay also have a role to play in this? What about bigwigs who aren't necessarily in leadership positions such as Kennedy or Stevens?

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Re: 25 People to Blame for the Financial Crisis

Postby O.J. » Tue Feb 17, 2009 12:53 pm

Phil Gramm is on the list. Both Alan Greenspan and Hank Paulson are on the list, and they're political appointees. Politicians absolutely had a hand in this mess, I just don't feel the article glossed over their "contibutions."

Shovel Ready
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Re: 25 People to Blame for the Financial Crisis

Postby Shovel Ready » Tue Feb 17, 2009 8:24 pm

pjbogart wrote:Shovel and Ned bring up an excellent point, though. Why are there so few politicians on the list? It seems like the nature of a CEO is that they're looking out for short term gains with little regard for the long run. If you were the CEO of General Motors in 2002, you might have said, "Oil is likely to rise dramatically due to unrest in the Middle East, an oilman in the White House and a non-existant anti-trust/regulatory attitude throughout our goverment. Perhaps it would be wise to plan for the future by focusing on smaller, more fuel-efficient cars or investing in R&D for hybrid technology. But that will cost billions and my retirement package will take a dump." You can't blame a dog for acting like a dog.

Most of these people made some terrible decisions that were aimed primarily at short-term profits but at the time the decisions didn't seem so terrible. Hindsight is 20/20. The goverment, with more robust enforcement of existing laws could have prevented most of this mess from ever occurring. Republicans have always been big on deregulation, but the sub-prime lending houses gave plenty of money to Democratic politicians as well.

Chris Cox, George W. and Bill Clinton all made the list, but the attitude favoring deregulation went much deeper and included politicians from both sides of the aisle. Didn't House and Senate Leaders such as Daschle, Gingrich and DeLay also have a role to play in this? What about bigwigs who aren't necessarily in leadership positions such as Kennedy or Stevens?


You really can’t expect the lefties to respond. Most of them are looking at the California government employees and scrambling to learn a skill that will land them a private sector job so they can work for a week, fall down, and sue the company. Its probably too late for most of them. They’ve already been programmed to fail, Sad part is that they have taught their kids and are teaching our kids how to fail as well, and we are letting them do it.

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Re: 25 People to Blame for the Financial Crisis

Postby ilikebeans » Wed Feb 18, 2009 12:19 am

Shovel Ready wrote:You really can’t expect the lefties to respond. Most of them are looking at the California government employees and scrambling to learn a skill that will land them a private sector job so they can work for a week, fall down, and sue the company. Its probably too late for most of them. They’ve already been programmed to fail, Sad part is that they have taught their kids and are teaching our kids how to fail as well, and we are letting them do it.

You really can't expect the righties to respond. Most of them are looking at the financial system and scrambling to learn a skill that will land them a private sector job so they can work for a week, make a bundle off the stimulus bill, then retreat to some island mansion. Its [sic] probably too late for most of them. They’ve already been programmed to fail, [sic] Sad part is that they have taught their kids and are teaching our kids how to fail as well, and we are letting them do it.

Yep, the standard partisan hyperbole will get us everywhere!

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Re: 25 People to Blame for the Financial Crisis

Postby eriedasch » Wed Feb 18, 2009 11:28 am

Shovel Ready wrote:You really can’t expect the lefties to respond.

You need to seriously get off your partisan horse. There are plenty of lefties upset about ALL corporate politicians that got us into this mess and we want them ALL out on their ear's. Just because people lean to the left and perfer to help their neighbor does not mean we are equally willing to look the other way if a Democrat is screwing us. Clinton screwed us plenty with NAFTA, War on Drugs, and deregulation. GWB, Reagan, and Bush I just did it much faster, harder, and so much more effectively. And the one single thing that could help save the economy - universal health care, they (current politicians with any real power) all seem to be doing a good job of ignoring.

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Re: 25 People to Blame for the Financial Crisis

Postby narcoleptish » Wed Feb 18, 2009 11:36 am

The first 7 should really be:
Nelson W. Aldrich
Henry P. Davison
Charles D. Norton
A. Piatt Andrew
Frank A. Vanderlip
Benjamin Strong
Paul M. Warburg

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Re: 25 People to Blame for the Financial Crisis

Postby fisticuffs » Wed Feb 18, 2009 11:43 am

Blind lock step devotion to an ideology, no matter how obviously flawed, is mostly a Republican trait.

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Re: 25 People to Blame for the Financial Crisis

Postby Ned Flanders » Wed Feb 18, 2009 11:56 am

fisticuffs wrote:Blind lock step devotion to an ideology, no matter how obviously flawed, is mostly a Republican trait.

viewtopic.php?f=48&t=44449

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Re: 25 People to Blame for the Financial Crisis

Postby fisticuffs » Wed Feb 18, 2009 11:59 am

Like all of your posts the thread you just linked to has you parroting mindless right wing talking points.


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