A tale of two Texans

[Razgovory]

Eh, he's still gonna win.

This reads as a daring prediction that neither Bachman, Palin nor any other potential female candidate wins.

I thought he meant W would win. 

[Faeelin]

Eh, he's still gonna win.

This reads as a daring prediction that neither Bachman, Palin nor any other potential female candidate wins.

I thought he meant W would win.

No, Perry. Unlike Bachmann, he's a governor, and he attracts the right wing base. Bachmann's already fizzling. And Obama's dead IMO if the economy continues to worsen. So...

[CountDeMoney]

And Obama's dead IMO if the economy continues to worsen. So...

...leave it to the American people to make it worse with another Republican.

[Razgovory]

And Obama's dead IMO if the economy continues to worsen. So...

...leave it to the American people to make it worse with another Republican.

Sounds like Perry has a working relationship with Phil Gramm.  You know, the guy who did more then anyone to cause the goddamn mess.  The guy who flunked the 3rd the 5th and 9th grade.  The Phil Gramm, the man who was McCain Economic adviser. 

Didn't our own Yi work for one of his campaigns?

[Admiral Yi]

Yup.

How did Gramm cause our problems Raz?

[Caliga]

Princesca worked for Phil Gramm's campaign back in '96.

[Razgovory]

Yup.

How did Gramm cause our problems Raz?

As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

Read more: http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html #ixzz1WGYVItBU

http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

[grumbler]

Sounds like Perry has a working relationship with Phil Gramm.  You know, the guy who did more then anyone to cause the goddamn mess.  The guy who flunked the 3rd the 5th and 9th grade.  The Phil Gramm, the man who was McCain Economic adviser. 

Didn't our own Yi work for one of his campaigns?

  You are an adult living in your parents' basement, and you want to rag on others because they had trouble in the third grade?  Especially on a guy with a PhD at age 25 (do you even have a college degree)? 

Post this again when you have a job.  Gramm may indeed be a moron (he was, after all, a Democrat for a long time and his antics as a Senator showed world-class blindness and gullibility), but you calling him out for elementary school stuff is just pathetic.

[Razgovory]

Princesca worked for Phil Gramm's campaign back in '96.

Your wife really knows how to pick'em.

[Razgovory]

Sounds like Perry has a working relationship with Phil Gramm.  You know, the guy who did more then anyone to cause the goddamn mess.  The guy who flunked the 3rd the 5th and 9th grade.  The Phil Gramm, the man who was McCain Economic adviser. 

Didn't our own Yi work for one of his campaigns?

  You are an adult living in your parents' basement, and you want to rag on others because they had trouble in the third grade?  Especially on a guy with a PhD at age 25 (do you even have a college degree)? 

Post this again when you have a job.  Gramm may indeed be a moron (he was, after all, a Democrat for a long time and his antics as a Senator showed world-class blindness and gullibility), but you calling him out for elementary school stuff is just pathetic.

9th grade isn't elementary school.  I also didn't run for President.

[Caliga]

Your wife really knows how to pick'em.

This was back when she was still religious... she'd never support a guy like Gramm now.

[grumbler]

9th grade isn't elementary school.  I also didn't run for President.

You can't fail 9th grade.  You can fail classes in 9th grade, but you cannot fail the grade.

Did you get a college degree?  Or did you flunk out of college (which is a hell of a lot less distinguished than getting a PhD by the age of 25)?

Whether Gramm ran for president of not has no bearing on the applicability of your whining about him failing third grade.  I am no fan of the man, but if you are going to bitch about him, bitch about the things that are applicable (like his horrific legislative record, or his support for abhorrent policies, or his cheapfuck rhetoric about how poor people in America aren't really poor, as shown by the fact that they are all fat.

[Razgovory]

9th grade isn't elementary school.  I also didn't run for President.

You can't fail 9th grade.  You can fail classes in 9th grade, but you cannot fail the grade.

Did you get a college degree?  Or did you flunk out of college (which is a hell of a lot less distinguished than getting a PhD by the age of 25)?

Whether Gramm ran for president of not has no bearing on the applicability of your whining about him failing third grade.  I am no fan of the man, but if you are going to bitch about him, bitch about the things that are applicable (like his horrific legislative record, or his support for abhorrent policies, or his cheapfuck rhetoric about how poor people in America aren't really poor, as shown by the fact that they are all fat.

Why is this a nerve with you?  I am perplexed.

[Admiral Yi]

As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

As Joan pointed out some time ago, the repeal of Glass-Steagall had zero impact on the financial crisis.  There were no commercial banks which were brought down by the shenanigans of their investment banking arms.

Derivatives regulation is a little more complicated.  One could hypothesize a situation in which the CFTC were granted power to regulate derivatives and regulated them in a manner so that the subprime bubble was partially mitigated.  On the other hand without further information we can't know if the reforms proposed under the 2000 act would have had that affect.  For example I'm unaware of any aspect of the most recent financial reform bill which requires the maintenance of reserves against potential pay outs (as is the case with normal insurance). 

[Razgovory]

Surprise, Surprise, Yi defends Gramm.


I'm still a bit bemused by grumbler's reaction.  He claimed that my attack on Gramm was pathetic.  I wonder if that means Grumbler has viewed me in anyway that is not pathetic.  His statement suggests he has, which I find flattering.  I've certainly haven't portrayed myself in anyway that isn't pathetic.