Failing to regulate credit default swaps. These instruments rely heavily on the institution that insures the debt. I never realized AIG was a heavy player in these and this is what lead to their demise. It definitely contributed to Bear Sterns problems as well. If I'm ABC Bank and I have a billion dollars in swaps with Sterns as protection, investors in ABC are not well enough informed as to the reliability of these swaps because there are not strong enough disclosure requirements on the strength of Sterns. Additionally, Sterns is not required to disclose the risk of the swaps and can acquire as many as they like from regulated banks. Banks are obviously regulated for a reason, entities like Sterns should be subjected to the same regulation because those banks are relying on the strength of entities like Sterns.

Swaps are risky and should be more heavily regulated than other financial instruments with more oversight. Bush was against regulation of these (thanks to advice from SEC head Cox I'm sure). Swaps make sense and are a good hedge, but they need more oversight.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

It is bs, I hate the idea that we save those who are stupid while those who made the right decisions get nothing. You and I get to pay for the actions of idiots. Socialist policies indeed. I don't like it at all. Unfortunately now that I have read more about it, I find that bailing out AIG was indeed necessary. Now we need more regulation to ensure this never happens again. Hopefully not a knee jerk where they overdo it.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

here's a challenge for you jaaaman. explain to us what Obama's "contribution" was to cause this meltdown

__________________

Quote:

"I like to watch the news, because I don't like people very much and when you watch the news ... if you ever had an idea that people were really terrible, you could watch the news and know that you're right."

Frank Zappa

Failing to support proposed reform and oversight of Mae and Mac.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

point out ANY reform which was offered. i know there was a bill offered up that mentioned fannie mae and freddie mac but that bill contained NOTHING which would have averted this financial meltdown. so, if you can find it, point it out as i want to see it and i am sure that interest is shared by others

__________________

Quote:

"I like to watch the news, because I don't like people very much and when you watch the news ... if you ever had an idea that people were really terrible, you could watch the news and know that you're right."

Frank Zappa

Reform #1 http://query.nytimes.com/gst/fullpag...gewanted=print

At the time of the initial attempts to reform Clinton and the dem controlled congress said no. Here is what some dems said about Bush's prescient proposal at the time:

How terribly ironic these quotes are. When does the dem congress ask for Barney the Failed to step down from his post? This buffoon is head of the committee? LOL!

And in 2005

http://www.govtrack.us/congress/bill...90&tab=summary

All three highlighted items are obviously applicable. The first relates to Mission related investing such as lending more to the poor. EXACTLY what happened here. The second highlighted item is obviously applicable, but mostly as it relates to the third and most important. http://www.ofheo.gov/media/archive/d...s/RBCFinal.pdf
Feel free to peruse the entire 568 page report, but essentially risked based capital test ensures that both entities are well enough capitalized to survive a 10-year stretch of bad loans. That obviously did not occur because neither entity was able to police itself.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

i've read the entire report and it offers nothing which would have averted the meltdown now underway

and your 9/11/03 article by stephen labaton is laughable. Obama was not in federal office and the republicans controlled all aspects of governmental power ... that only reinforces how much the republicans are to blame for this financial upheaval which will foist the losses incurred by the elite on the wage earning public

__________________

Quote:

"I like to watch the news, because I don't like people very much and when you watch the news ... if you ever had an idea that people were really terrible, you could watch the news and know that you're right."

Frank Zappa

That's because you are a 100% certified partisan. I doubt you understood anything you read. Which is why my specifics as to why it would have worked was replied with a general "oh it wouldn't have worked" response. The only thing that failed is your response as to why it wouldn't have prevented the crisis, or muted it. My response proved it, yours proved you're a partisan.

You asked for ANY proposal, you even capitalized it. Yet forgot your own request apparently. The dems opposed the 2005 proposal which of course is why a healthy chunk falls directly on their laps. Apparently you are unfamiliar with the term filibuster. I can provide a dictionary definition if you like.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.

ok
this is your typical nonsense
the '03 government controlled by republicans does not pass a measure intended to strengthen regulatory measures of freddie mac and fannie mae and it is the democrats' fault
amazingly stupid submission, even for you

__________________

Quote:

"I like to watch the news, because I don't like people very much and when you watch the news ... if you ever had an idea that people were really terrible, you could watch the news and know that you're right."

Frank Zappa

The only nonsense was your response, general in delivery and lacking in knowledge. As usual. Stupid is someone who doesn't know what a filibuster is.

FYI, we both know you didn't read the report. Your response is evidence of that. Just opening the link would take you a few hours.

__________________
All you need to know about the energy crisis:
ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed.
Coal-to-liquid R's: 90% YES. D's: 78% NO.
Oil Shale Exploration R's: 90% YES. D's: 86% NO.
Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO.
Increased Refinery Capacity R's: 97% YES. D's: 96% NO

SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against.