Was Barack The Magic Negro Really Smarter Than All Those White Republicans

[flghtr65]

Originally Posted by lustylad

You're rewriting history, flighty. With the possible exception of Citibank, none of the 10 largest US commercial banks was at risk of failure. (Banks become insolvent and may be liquidated by regulators; they don't "go bankrupt".) Citibank was overly exposed to a pipeline/inventory of CDOs (Collateralized Debt Obligations), not Credit default swaps. Lehman Brothers was an investment bank and AIG is an insurer.

All of the largest US banks were forced to accept TARP money by Treasury Secretary Hank Paulsen in October 2008 because he feared a systemic failure and didn't want to stigmatize Citibank. Within two years, nearly all of the largest banks had repaid the US Treasury in full, with interest.

Almost half of the banks that Paulsen met with on that infamous meeting held Oct. 13th 2008 were investment banks. Why are you trying to separate the two types of banks. Both types of banks received bailout money from TARP.

From the link: The nine bank CEO's who met with Paulsen, Bernecke and Tim Geitner on 10/13/08.

The CEOs present at the October 13 meeting were Vikram Pandit of Citigroup, Jamie Dimon of JP Morgan, Richard Kovacevich of Wells Fargo, John Thain of Merrill Lynch, John Mack of Morgan Stanley, Lloyd Blankfein of Goldman Sachs, Robert Kelly of Bank of New York, and Ronald Logue of State Street Bank.

http://www.judicialwatch.org/press-r...out-documents/

[flghtr65]

[/QUOTE]
The Senate just voted to block the repeal of Obamacare. The vote was 57 -43. Nine Republican Senators voted with the Democrats. So, 20 million plus citizens will continue to get their health insurance.

http://www.msn.com/en-us/news/politi...U?OCID=DELLDHP

[dilbert firestorm]

obamacare dies then.

[grean]

The Senate just voted to block the repeal of Obamacare. The vote was 57 -43. Nine Republican Senators voted with the Democrats. So, 20 million plus citizens will continue to get their health insurance.

http://www.msn.com/en-us/news/politi...U?OCID=DELLDHP[/QUOTE]


McConnell's language in the bill that would remove the personal mandate is part of what caused that to be blocked. Ted Cruz didn't help either.

There still a long way to go until it's done.

Obama knew the supreme court would view the mandate as a tax. The IRS collects it, after all, for those who chose to pay the penalties.

Taxes are constitutional.


So suck it, Trump!

[I B Hankering]

Originally Posted by grean

Obama knew the supreme court would view the mandate as a tax.

Good to see that you're finally admitting Odombo, et al, lied their fucking asses off to the American people when they told the American people it wasn't a tax in order to get it through Congress.

[Yssup Rider]

Down goes Twitler! Down goes Twitler! Down goes Twitler!

[grean]

Originally Posted by Yssup Rider

Down goes Twitler! Down goes Twitler! Down goes Twitler!

What! What'd I miss?

[flghtr65]

Originally Posted by dilbert firestorm

obamacare dies then.

How so? Where will the votes come from? There are at least three republican senators that do not want to lose Expanded Medicaid for their state. So far, the republicans have not come up with a replacement bill that keeps Expanded Medicaid.

[dilbert firestorm]

Originally Posted by flghtr65

How so? Where will the votes come from? There are at least three republican senators that do not want to lose Expanded Medicaid for their state. So far, the republicans have not come up with a replacement bill that keeps Expanded Medicaid.

you are forgetting about the House. all funding goes thru them.

[flghtr65]

Originally Posted by lustylad

Hahahaha... now you're not just rewriting history, you're making it up wholesale!

I did not rewrite history. You changed the sentence around (from Post #95) to exclude investment banks and you think you're schooling someone. The 5th, 4th and 3rd largest investment banks were either bankrupt or bought out before the first TARP loans were made. Bear Stearns was the 5th largest investment bank, Lehman was 4th and Merrill Lynch was the 3rd largest. When Paulsen made the first TARP loans all the banks were suffering.

From the link.

https://www.wallstreetoasis.com/fina...risis-overview

Bear Stearns was the 5th largest investment bank in the US and after it failed, the 4th biggest bank (Lehman Brothers) was under intense pressure. Over the summer of 2008 the share price of Lehman went on a rollercoaster ride, often gaining or losing 40% or more in a single trading day. All the while, Lehman was hemorrhaging money and needed capital desperately. There was a lot of communication between bank CEO's, Henry Paulson (US Treasury Secretary) and the Federal Reserve in order to try and prevent a crisis.
Lehman tried many different things; a capital raise of $4 billion, a deal with Morgan Stanley, a deal with Bank of America, a merger with Barclays but none of it worked. Everything came to a head in September 2008. Lehman Brothers was intending to do a deal with Bank of America for the entire company, but the US government refused to provide any kind of support following the public outcry after the Bear Stearns bailout.
All the banks were suffering at this point but the worst affected after Lehman was the 3rd biggest bank, Merrill Lynch. Although Merrill was not widely publicized in the media as being in trouble, it too was losing money and if Lehman failed, Merrill would be next. During September 2008 the US Treasury orchestrated meetings between all the CEOs of the large banks at the Federal Reserve in order to try and save Lehman Brothers. During these meetings, the government reiterated its position of not providing any form of assistance and insisting that there had to be a market solution similar to that of Long Term Capital Management in the 1990s.

[flghtr65]

Originally Posted by dilbert firestorm

you are forgetting about the House. all funding goes thru them.

The vote for the "Skinny repeal" failed. Three republican senators voted no. Looks like Trump and republicans will have to move on to "Tax reform".

https://www.yahoo.com/news/senate-sk...072042708.html

[lustylad]

Originally Posted by flghtr65

I did not rewrite history. You changed the sentence around (from Post #95) to exclude investment banks and you think you're schooling someone. The 5th, 4th and 3rd largest investment banks were either bankrupt or bought out before the first TARP loans were made. Bear Stearns was the 5th largest investment bank, Lehman was 4th and Merrill Lynch was the 3rd largest. When Paulsen made the first TARP loans all the banks were suffering...

Yes, you absolutely did make up history. You said “the ten largest banks all failed their accounting stress tests in the third quarter of 2008” and “that is why Paulsen (sic) forced them to take the TARP loan”.

I challenged you to back up this false history by providing a link and details of that imaginary 2008 stress test. I am sure you did a search and came up short. Yet you keep posting without even admitting you were wrong. Instead, you stubbornly insist “I did not rewrite history.”

You need to come clean first if you expect me to begin to address your other comments.

Btw, you misspelled the names of all 3 key actors in the 2008/09 financial crisis when you referred to “Paulsen, Bernecke and Tim Geitner”. Nice!