Ferrari Mailing List: Re: Opinion - Rick's Failed Economy Comment

[LarryT (l02turner]

Let's start with <<its also true that the Energy company's have had undue 
influence through their lobbying power to maintain the status quo and the 
ability to control/limit the technology>>

You state "it's true", but I wonder... -- I'd like to know what you have to 
back that up.  What technology has been limited

Also, you stated <<failed economy wasn't caused by the banks or junk 
mortgages>> but it was caused <<by people buying a bunch of shit they 
couldn't afford>>..  IMO, there's enough blame to go around - but at the 
**top** was congress who pushed lenders into loaning money at times teling 
the lenders *not* to request income information or to confirm employment. 
Some people bought realestate as speculative investments.  One lady bought 
3 - $200k condos in the hopes the prices would go up...

That's all I have time for now -

LarryT

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----- Original Message ----- 
From: "Mauricio Mesa" <mesa_mauricio [at] yahoo.com>
To: "Larry Turner" <l02turner [at] comcast.net>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Sent: Wednesday, May 20, 2009 11:31 AM
Subject: [Ferrari] Opinion - Rick's Failed Economy Comment


> + Humans aren't addicted to oil.  They're addicted to ENERGY.
>
> Re: Thats true, yet its also true that the Energy company's have had undue 
> influence through their lobbying power to maintain the status quo and the 
> ability to control/limit the technology that makes new forms of energy 
> available or more efficient.  What made the US the greatest superpower was 
> its innovation/industrial revolution what has been killing it has been the 
> limiting of the innovation by these monopolies in our Capital system that 
> have decided its more important to put money before country's well being. 
> Globalization, selecting to export American jobs to communist China over 
> investing in the creation of jobs through maintaining its leadership in 
> innovation.  Why, because big business controls government not the people.
>
> + The failed economy wasn't caused by the banks or junk mortgages.
>  It was caused by people buying a bunch of shit they couldn't afford.
>
> Re: While partly true in that people lied on their applications to get 
> these loans, on the other side the banks knew that they wern't good for 
> the money but because they wanted their comission they took it in.  Like 
> Enron, Madoff, Stanford Financial, etc. it was all caused to a great 
> degree by a lack of oversight and regulatory controls by the government 
> thanks to many years of lobbying in Washington DC.  If the government 
> would have not sold out in the first place, they would have been able to 
> put a stop to Wall Street's selling of ill-advised junk products before it 
> reached catastrophic global proportions.  So since the idiot massess and 
> the greedy financial institutions perversed Capitalism to such a great 
> extent we are now faced with Socialist mechanisms through bank and 
> industry bailouts to fix what Capitalism run a muck was able to do.
>
> By the way, I worked in Investment Banking in Wall Street in the mid 1990s 
> and have worked for many years in investigations, including financial 
> fraud investigations in the US and abroad.
>
>
> Message: 4
> Date: Tue, 19 May 2009 18:12:19 -0700 (PDT)
> From: Rick Lindsay <rolindsay [at] yahoo.com>
> Subject: Re: [Ferrari] NFC Say goodbye to your SUV's : BO just
>    madethem    extinct
> To: Steve Cook <stevec [at] cheatcodes.com>
> Cc: The FerrariList <.com>
>
>   Well put.
>
> + Humans aren't addicted to oil.  They're addicted to ENERGY.
>
> + The failed economy wasn't caused by the banks or junk mortgages.
>  It was caused by people buying a bunch of shit they couldn't afford.
>
> These are Great Truths of the Universe.
>
> rick
>
>
>
>
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