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  #251 (permalink)  
Old 12-30-2008, 08:02 AM
Glinda Glinda is offline
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Originally Posted by ocean_314 View Post
And the reason why no one wants to buy an american made car is because they are low quality pieces of junk that are always in the shop. Thank you UAW.
I dunno know how much experience you have with foreign vs. US cars, but I can tell you that the Toyota I bought years ago was a complete piece of crap. First, the engine blew. Really. About 8 months later, the radiator died. A few months after that, the radio crapped out. Then the heater stopped working. I had it a total of three years.

Alternately, my Ford Escort ran like a CHAMP for ten years before I traded it in for a 1998 Chevy Silverado (I'd moved to the country and needed something big to haul stuff and traverse lots of gravel roads that require 4-wheel drive). Had it four years now and haven't had ONE tiny thing go wrong. Not one. I couldn't be happier with my American-made cars, and I wouldn't take a Toyota if you gold plated it and GAVE it to me.

THANK YOU, UAW!

Last edited by Glinda; 12-30-2008 at 08:03 AM.
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  #252 (permalink)  
Old 12-30-2008, 08:19 AM
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Gaar Gaar is offline
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Originally Posted by Glinda View Post
I dunno know how much experience you have with foreign vs. US cars, but I can tell you that the Toyota I bought years ago was a complete piece of crap. First, the engine blew. Really. About 8 months later, the radiator died. A few months after that, the radio crapped out. Then the heater stopped working. I had it a total of three years.
Good thing it was under Warranty then...
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Old 12-30-2008, 08:46 AM
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Originally Posted by ocean_314 View Post
And the reason why no one wants to buy an american made car is because they are low quality pieces of junk that are always in the shop. Thank you UAW.
are the engineers union workers?
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Old 12-30-2008, 09:01 AM
Glinda Glinda is offline
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Originally Posted by Gaar View Post
Good thing it was under Warranty then...
Wasn't. It was four years old when I bought it, and the original owner from whom I purchased it had every scrap of paper on maintenance and upkeep, from the day he drove it off the lot. I even had it looked at by a master mechanic.

Bottom line: it was a piece of garbage. UNLIKE all the American-made cars I've ever owned.

Last edited by Glinda; 12-30-2008 at 09:04 AM.
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  #255 (permalink)  
Old 12-30-2008, 09:42 AM
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Originally Posted by catawba View Post

"Congress and George Bush could take a step tomorrow that would create a drop in oil prices of between 25 and 50 percent overnight, simply by closing the Enron Loophole.

This is according to testimony before a Senate Committee two weeks ago by Michael Greenberger, the former director of Trading & Markets for the Commodities Future Trading Commission (CFTC), the government board that oversees commodities markets:

“Yes, overnight [closing the Enron Loophole] will bring down the price of crude oil to get at least a 25 percent drop in the cost of oil and a corresponding drop in the cost of gasoline. Some people estimate 50 percent.”

Greenberger’s testimony was brought to light by an investigation into the Enron Loophole by Keith Olbermann on MSNBC’s “Countdown” last week. (A transcript of Olbermann’s report follows.)

The Enron Loophole is the nickname for a provision written into the Commodity Futures Modernization Act (CFMA) of 2000 that was drafted by lobbyists for Enron and inserted in the bill by then Sen. Phil Gramm (R-Texas) that deregulated an aspect of the market Enron sought to exploit with its “Enron On-Line” trading program, the first Internet-based commodities transaction system."

http://www.pensitoreview.com/2008/06...op-oil-prices/

YouTube - Countdown: Gas Pains and the Enron Loophole
Wow, that's terrible, now who would sign that piece of garbage into law?

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The "loophole" was enacted in sections § 2(h)(3) and (g) of the Commodity Exchange Act, 7 U.S.C. as a result of the Commodity Futures Modernization Act of 2000, signed by U.S. president Bill Clinton on December 21, 2000.[1] It allowed for the creation, for U.S. exchanges, of a new kind of derivative security, the single-stock future, which had been prohibited since 1982 under the Shad-Johnson Accord, a jurisdictional pact between John S.R. Shad, then chairman of the U.S. Securities and Exchange Commission, and Phil Johnson, then chairman of the Commodity Futures Trading Commission.

http://en.wikipedia.org/wiki/Enron_L...on_Loophole.22
He could have vetoed it.....ya think? I notice you didn't mention him.
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  #256 (permalink)  
Old 12-30-2008, 09:56 AM
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Originally Posted by catawba View Post

"Congress and George Bush could take a step tomorrow that would create a drop in oil prices of between 25 and 50 percent overnight, simply by closing the Enron Loophole.

This is according to testimony before a Senate Committee two weeks ago by Michael Greenberger, the former director of Trading & Markets for the Commodities Future Trading Commission (CFTC), the government board that oversees commodities markets:

“Yes, overnight [closing the Enron Loophole] will bring down the price of crude oil to get at least a 25 percent drop in the cost of oil and a corresponding drop in the cost of gasoline. Some people estimate 50 percent.”

Greenberger’s testimony was brought to light by an investigation into the Enron Loophole by Keith Olbermann on MSNBC’s “Countdown” last week. (A transcript of Olbermann’s report follows.)

The Enron Loophole is the nickname for a provision written into the Commodity Futures Modernization Act (CFMA) of 2000 that was drafted by lobbyists for Enron and inserted in the bill by then Sen. Phil Gramm (R-Texas) that deregulated an aspect of the market Enron sought to exploit with its “Enron On-Line” trading program, the first Internet-based commodities transaction system."

http://www.pensitoreview.com/2008/06...op-oil-prices/

YouTube - Countdown: Gas Pains and the Enron Loophole
Your first word sticks out beautifuly CONGRESS and Bush you can't blame the republicans for not taking control because CONGRESS is full of DEMOCRATS And 2000 Bush was elected president but didn't take office until Jan. 2001 It was signed by Clinton and gang/

Last edited by teeko; 12-30-2008 at 10:01 AM.
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  #257 (permalink)  
Old 12-30-2008, 10:37 AM
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Originally Posted by Glinda View Post
Wasn't. It was four years old when I bought it, and the original owner from whom I purchased it had every scrap of paper on maintenance and upkeep, from the day he drove it off the lot. I even had it looked at by a master mechanic.

Bottom line: it was a piece of garbage. UNLIKE all the American-made cars I've ever owned.
http://www.edmunds.com/insideline/do...ticleId=116518

Survey: Toyota Still King in Customer Satisfaction, but Detroit Is Gaining
Date posted: 08-16-2006

ANN ARBOR, Mich. — The American Customer Satisfaction Index, a University of Michigan analysis of customer attitudes released on Tuesday, found that General Motors has been doing a better job of impressing buyers. But Toyota still is at the top of the heap when it comes to how well a vehicle meets customer expectations.

On a 100-point scale, GM's Buick brand ranked second with a rating of 86, up 2.4 percent from 2005. Toyota ranked 87, the same score as the previous year. Honda tied with Buick. Chevrolet scored an 81, the industry average, which reflected a 3.8 percent improvement from its score in 2005.

Dodge and Chrysler brands remained below average in the index, while the Jeep brand fell 1.3 percent to tie for last with Ford and Kia.
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Old 12-30-2008, 10:51 AM
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You won't see me singing praises for Bill Clinton. My opinion of him was he gave in far too much to the far right!

Phil Graham was the motivating force in this with the Republican controlled Congress with only weak Willy as an obstacle.

Phil Gramm

"I wonder if Phil Gramm will become the financial sector's Thomas Midgley, Jr.

If you aren't familiar with Thomas Midgley, Jr., he's the chemist that invented both leaded gasoline and chlorofluorocarbons. How's that for a legacy? From the wikipedia article:

One historian remarked that Midgley "had more impact on the atmosphere than any other single organism in Earth history."

Phil Gramm isn't to far behind in terms global financial mass destruction. His hand in the current and past financial meltdowns is pretty stark:

The Commodity Futures Modernization Act of 2000 has received criticism for the so-called "Enron loophole," 7 U.S.C. §2(h)(3) and (g), which exempts most over-the-counter energy trades and trading on electronic energy commodity markets. The "loophole" was drafted by lobbyists for Enron working with senator Phil Gramm seeking a deregulated atmosphere for their new experiment, "Enron On-line."

And we know how well Enron turned out. But his culpability goes even deeper:

Senator Phil Gramm, the second largest recipient of campaign contributions from Enron, succeeded in legislating California's energy commodity trading deregulation. Despite warnings from prominent consumer groups which stated that this law would give energy traders too much influence over energy commodity prices, the legislation was passed in December 2000.

As Public Citizen reported, "Because of Enron's new, unregulated power auction, the company's 'Wholesale Services' revenues quadrupled—from $12 billion in the first quarter of 2000 to $48.4 billion in the first quarter of 2001."[7]

Before passage of the deregulation law, there had been only one Stage 3 rolling blackout declared. Following passage, California had a total of 38 blackouts defined as Stage 3 rolling blackouts, until federal regulators intervened in June 2001.

So the Commodity Futures Modernization Act of 2000 led to Enron, but it doesn't stop there. If you've been following the current meltdown in the financial industry you will eventually learn about Credit Default Swaps as a major cause the instability. Credit Default Swaps are an unregulated insurance market and were also created by Gramm in that very same Act. That too might be bad enough, but that isn't all, realize that the year before, in 1999, Gramm spearheaded the repeal of the Glass-Steagall Act, the depression era reforms that regulated the financial services industry.

The math savvy of you will note that it only took 8 years for the financial sector to go from the removal of depression era regulations to driving the country into yet another depression. At least they're efficient.

Mother Jones:

But Gramm's most cunning coup on behalf of his friends in the financial services industry - friends who gave him millions over his 24-year congressional career - came on December 15, 2000. It was an especially tense time in Washington. Only two days earlier, the Supreme Court had issued its decision on Bush v. Gore. President Bill Clinton and the Republican-controlled Congress were locked in a budget showdown. It was the perfect moment for a wily senator to game the system. As Congress and the White House were hurriedly hammering out a $384-billion omnibus spending bill, Gramm slipped in a 262-page measure called the Commodity Futures Modernization Act. Written with the help of financial industry lobbyists and cosponsored by Senator Richard Lugar (R-Ind.), the chairman of the agriculture committee, the measure had been considered dead - even by Gramm. Few lawmakers had either the opportunity or inclination to read the version of the bill Gramm inserted. "Nobody in either chamber had any knowledge of what was going on or what was in it," says a congressional aide familiar with the bill's history.

It's not exactly like Gramm hid his handiwork - far from it. The balding and bespectacled Texan strode onto the Senate floor to hail the act's inclusion into the must-pass budget package. But only an expert, or a lobbyist, could have followed what Gramm was saying. The act, he declared, would ensure that neither the SEC nor the Commodity Futures Trading Commission (CFTC) got into the business of regulating newfangled financial products called swaps - and would thus "protect financial institutions from overregulation" and "position our financial services industries to be world leaders into the new century."

Phil Gramm, the financial sector's Thomas Midgley, Jr."

http://bitworking.org/news/377/Phil-Gramm

Last edited by catawba; 12-30-2008 at 10:52 AM.
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  #259 (permalink)  
Old 12-30-2008, 10:55 AM
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Originally Posted by catawba View Post
You won't see me singing praises for Bill Clinton. My opinion of him was he gave in far too much to the far right!
Well of course he did, in your mind, they were able to Balance the Budget for the first time in Decades.
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Last edited by Gaar; 12-30-2008 at 11:10 AM.
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Old 12-30-2008, 11:08 AM
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Originally Posted by Gaar View Post
Well of course he did, in your mind, they were able to Balance the Budget for the first time in Decades.

Clinton's negligence in letting Phil Gramm's bill go unnoticed in the spending bill he signed resulted (from my post above) in not only the deregulated speculators, but also the "Credit Default Swaps as a major cause the instability. Credit Default Swaps are an unregulated insurance market and were also created by Gramm in that very same Act. That too might be bad enough, but that isn't all, realize that the year before, in 1999, Gramm spearheaded the repeal of the Glass-Steagall Act, the depression era reforms that regulated the financial services industry."

Last edited by catawba; 12-30-2008 at 11:09 AM.
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