Haley Barbour was right. “People wanted to shoot Washington the bird,” he said recently at the MEC Hobnob. “They thought Donald Trump was the biggest, most magnificent middle finger they could find.”
For many, that’s all that mattered. If Trump delivers on any campaign promises, well, that will just be icing on the cake.
Others are expecting lots of icing. And that’s where the President-elect will be challenged. Talking and proposing are one thing. Getting results is quite another.
Ronald Reagan understood that. So he mixed solid getter-doners into his cabinet and staff along with the requisite political appointees.
Harvard-educated veteran Casper Weinberger had vast government experience as head of the Federal Trade, director of the Office of Management and Budget, and Secretary of Health, Education, and Welfare before Reagan appointed him Secretary of Defense.
Harvard-educated veteran Donald Regan served as chairman of CEO of Merrill Lynch and vice chairman of the New York Stock Exchange before Reagan appointed him Secretary of the Treasury.
Yale educated veteran and quality guru Malcolm Baldridge was chairman and chief executive officer of Scovill, Inc. before Reagan appointed him Secretary of Commerce.
Princeton-education veteran James A. Baker was a highly effective political organizer who practiced law and served as Undersecretary of Commerce before Regan chose him as Chief of Staff. Of course Baker subsequently served as Secretary of the Treasury under Reagan and Secretary of State under George H.W. Bush.
Names floated so far to be on Trump’s cabinet don’t stack up with Reagan’s choices. Only RNC chairman Reince Priebus as Trump’s Chief of Staff appears to rise to that level.
The good news is that Trump’s transition team includes a group team of serious people looking at key issues. Politico.com reported Mike Rogers is looking at national security, David Malpass at economic issues, Ken Blackwell at domestic issues, and Keith Kellogg at defense.
Rogers, a veteran and former FBI Special Agent, retired after seven terms in the House where he served as Chairman of the House Committee on Intelligence.
Malpass served as Deputy Assistant Treasury Secretary under Reagan, Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns.
Blackwell served as undersecretary in the Department of Housing and Urban Development President George H. W. Bush and as Mayor of Cincinnati, Ohio State Treasurer and Ohio Secretary of State.
Keith Kellogg, Lt. General U.S. Army (retired), served as chief of staff for the 82nd Airborne Division during Operation Desert Shield/Desert Storm, and as director of command, control, communications and computers for the Joint Chiefs of Staff. After retirement in 2003 he served as chief operations officer for the Coalition Provisional Authority in Iraq and as a senior official at several defense contractors.
Hopefully, as these experienced leaders look at the issues they will also get to suggest appointees. They would recommend solid getter-doners, not sycophants.
His appointments will tell if Trump can deliver like Reagan or not.
Crawford is a syndicated columnist from Meridian (crawfolk@gmail.com)
Saturday, November 19, 2016
Bill Crawford: Appointments tell all
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Trollfest '09
Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Trollfest '07
Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.
There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.
If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.
If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
54 comments:
No one in their right mind should equate Trump with Reagan. Trump is an egotistical blowhard who came along just when much of America wants to say F.. you to the system and when the Democrats insult the process with a disgusting candidate. If Trump can assemble a competent cabinet they'll spend the next four years changing his diaper. And it'll be real full!!!
He's already gotten results. Churches burned, racist outbreaks like the return of smallpox, the alt right empowered. Great days ahead for America.
Trump has a harder job than Reagan. Country is in much worse shape.
11:22
X 100s
Our country has been going down hill for quite a few years. It took the people a long time to get up the nerve to do something. The last time there was a chance of electing someone that might make a difference people made fun of his looks, much like they do with Trump. Trump may not be the answer but we know for damn sure a life long crooked politician is not the answer.
Maybe after 4 years of Trump the people will see he was no better than what we had before. He may be elected for another 4. You can bet the parties will have to come up with someone different than the losers they keep trying to push on the people.
Trump is an egotistical idiot. Thought it was all talk to got elected. Please let me have a re-do! Saying this but still hoping for the best. The fact that Newt withdrew from consideration for a cabinet position says a good bit.
No America is not in worse shape, you guys see this moron failing already, Bringing his daughter with him to meet a foreign national, a clear ethical if not legal violation.He is so thin skinned he's complaining about the cast of Hamilton confronting Pence.By July 4th, he's going to get bored, and start looking for a way out.
Point to a church that has been burned by other than a member of the congregation.
And just why do you whiny libs think Obama was elected. What was he the answer to? What level of dissatisfaction could possibly have caused this country to elect a man whose only resume bullet point, of particular note, was 'community organizer'.
Thank God, literally, that the Clinton regime is history and that the moving vans are headed to the White House to return our destroyer to Chicago.
Haley stole that line from DOR Commisioner Herb frierson when he said the same thing to a joint legislative finance committee. Plus Haley was not a trump fan and worked against him. Now he wants to get on the band wagon. What a joke.
My....how so many liberals there are on this blog. By the way, I saw the footage of how Mike Pence was treated and it was inexcusable. I bet if Biden had been treated that way there would have been a protest by non Caucasians. Face it, all the left has to offer is bigger government and give away programs. Yes, we voted and the decision was made. Live with it. We suffered through an administration of an empty chair....played golf and toured the world on our dime. Professional politicians have no idea what the average person goes through day to day. We all have a choice. You can either sit on you porch and whine or get your ass out and go to work. 10 times out of 10 you will be respected more if you work instead of whine but the left made it more feasible for those people to not work. They actually make more money on subsidies than working honestly. Obamacare..... what a pile of crap!!!
How soon do you forget, if you were invested in the stock market the last 8 years you did pretty good. (My investments grew by 50%). Business is great. If you think the jobs of the 80 and 90's are coming back dream on. If you haven't adjusted to age of computers and robotics your basically looking for minimum wage job.Our President Elect sold you guys hopes and dreams,just like he did the guys who enrolled in Trump U. Too bad you will not be able to sue him.
It's fun seeing all these posters so miserable.
@3:36 PM
Misery obviously loves good company. So happy that you are here with those you deem miserable.
In recent years some people have become accustomed to getting their way by crying and calling people racist. It worked very well. Now things have changed. All of the crying, complaining, and calling people racists will not change the election. The votes have been counted. The winner has been decided. Learn to live with it.
We will see a difference in the next few years. If the change is for better or worse will depend mostly on the people and their personal choices. Grow up and make sound decisions and the change will probable be for the better. Continue the spoiled kid games and the change will definitely not be a good one for you. The choice will be yours.
It's fun seeing all these posters so miserable."
And the one (2:26) trying to act so glib, you can see right through it. Laughable.
@2:26...weed is not legal in Mississippi yet. The economy is horrendous and your statement about the jobs of the 80's and 90's aren't coming back belies that point. In your world a functioning economy is not coming back. Look at Tunica...when you are tearing down casinos, the economy sucks.
12:57pm....how is taking his daughter to a meeting a legal and/or ethical violation. Please expound or are you just parroting news mumbo jumbo meant to stir up false speculation of Trump wrongdoings?
10:46am....have we found out who exactly burned the church in Greenville? It's the only one I have heard about, and I feel pretty confident that it will be a found to be a democrat false flag operation (just like all the unrest at Trump events) when all is said and done. Please provide a link to the breakout of racist acts, because I think you are full of shit and just spouting off. The only racism I see is from the left.
3:36/4:52
Why on earth would you desire to see persons unknown to you in misery? What kind of person are you? Perhaps you should drop by a special needs school or cancer treatment center and really enjoy yourself. Maybe you are someone who openly mocks the disabled. Wait a minute... That reminds me of a guy who did that on national t.v. while running for our great nation's president.
What's really interesting, is that I am witnessing you guys go blind. Of course when it's all said and done it's going to be like it is in my sweet home Loouisana...you can't find a soul who voted for Piyish Jindal today.
@5:24 the world economy is great, it just left the under educated behind. You can't work at McDonald's if you don't know how to use a computer.
Like when Haley flipped South Mississippi the bird with the Kemper Power Plant. Funny thing about Democrats and Republicans. Both parties preach how morally superior they are while robbing you blind.
7.27.....Yep.
He sure is draining the swamp by appointing all these career politicians and Washington insiders.
Gurgle, gurgle, gurgle; BURP! And back it comes. Same swamp just different contents.
All the know it all's that said Trump could not be elected are now telling everyone what he is going to do or not do. They have as much chance of being right as most of those who said it would be a blow out for the Clinton Foundation and every under educated deplorable might as well stay home. Let us wait until at least January 22 to see what can be done to right a sinking ship.
The Republican Party is now just the corporate war party. The Democrats have become the 'let's sing kumbaya while taxing everything' party. It's sad. I miss Ron Paul.
9:26 - Would you suggest a Secretary of State who maybe taught in a college classroom at Harvard? A chief of staff who managed a dot.com out in Idaho? A transition team who are unfamiliar with both parties to the transition?
He's choosing those whose ideals, goals and thoughts on government most mirror his own. To do otherwise would be foolish; don't you think?
But, let's cool our heels for a few minutes and take a good hard look at the group the present regime-leader surrounded himself with and those who confidence and advice he most coveted? Go ahead - let's list them.
damn K.F.! There are a lot of bedwetting snowflakes lurking and wining here! If they would publish their (parents) mailing addresses we could send them all a participation trophy and a listing of available local jobs.
2:26. If your investments grew by "50%" in the last eight years you are wasting time on here. Open an investment company right now, I'll be your first customer.
I agree that our citizens are more than a little fed up with our politicians.
It's not just the Trump supporters but the Bernie supporters who expressed the ire.
The problem is that neither candidate suggested changes that would actually fix what has gone wrong . And, both parties have done a good job in trying to misdirect citizens.
The bottom line is that everything costs more when our income has remained static or declined. The goods for which we pay are no longer made to last nor are replacement parts standard anymore. The services for which we pay are less responsive to our needs rather than more responsive. We are put on hold or get shuffled from one entity to the next. We are paying costs to exist comfortably that didn't exist for many of us. College tuition for a State supported school is now what an Ivy League school cost 30 years ago and the interest rate for student loans has increased. The legal system has become too slow and too expensive to access and class action suits have meant that those harmed don't recover their actual loss but rather the lawyers get rich. We are harmed, like for tobacco but the money doesn't go to those harmed, it goes to the government. We cannot rely on the money management system ( investments , banking, insurance) to manage our money wisely and in our interests anymore or provide us with accurate information. There is no loyalty to be earned from employers for a job well done or job security or protection of our pensions. They are willing to send our jobs to another country for cheap labor even if that means less quality in the product. There is no pride in quality.
We pay to hear politicians speak when many of us remember the time they sought out our attention for free and spoke in town squares and from the back of trains. If we fall and have an obvious simple break of a leg and a wrist, we don't see one doctor who sets the bones, but at least two and often after we also pay for a physician's assistant.
And, even church has become for two many, not a place of worship and where we can be ministered but a place where we need to pay for larger and larger buildings in which to be entertained and told that we are superior to others and evil and threats are all around us. The media confirms that everything is going to hell in a hand basket and we are subjected to watching arguments that are like listening to our neighbor's domestic quarrel.
There is no peace or respite from the assault on our senses and emotions.
At the heart of this is greed and profit. At the heart of this is wealth becoming THE measure of success. At the heart of this is the notion that selfish is good.
We are not finding peace or respite or escape anywhere.
Sadly, neither Congress nor Trump has gotten the message. Sadly, few of our citizens know enough about what caused things to take such a bad turn in our lives to know what to demand. We're still letting those who are profiting from our labors set us against one another.
To fix a system that's broken , you have to know how it got broken. And, ours was broken in sentences in bills, not by some philosophical shift. Ours was broken when the worship of money allowed special interests to trump the interests of our Nation and our people.
Government and professions were never supposed to be like businesses. They were supposed to be a key part of the function of a society. Efficiency isn't and never was limited to business but we have been led to believe that only businesses are efficient and our proof is profit. Efficiency in business doesn't get you dangerous air bags or poison your customers, does it? Efficiency lowers costs, it doesn't increase costs.
It feels good to shoot the bird, but it has never solved a problem.
And, I expect that those who are feeling good right now are going to be feeling a lot worse in the years to come.
You'll have no one to blame but yourself. You didn't demand better. You wanted a Patrick Henry , not a Madison or Jefferson or Hamilton.
8:15, interesting post. Only one thing I can respond to.
We, the people, cannot demand who runs for any elected office. We are left to choose from what the small class of political party heads decide they wanted. Just look at what he democratic party did to everyone except the one they chose. The republicans tried to do the same thing but they just didn't have all of the crooks needed to pull it off.
We, the people, do not have any power. This time we finally had to take a stand. We will get to see if it really makes any difference. We do hope it will.
These people would call Reagan a liberal or a 'cuckservative'. It says a lot about our country that cartoon frog named Pepe has now been deemed a symbol for white supremacy thanks to the posters over at 4chan.
If they had their way, they would install Louis Ferrikhan in a leadership position of AIPAC in order to 'spite the liberal'.
@7:43 I didn't pick em, Fidelity did, and just so you know they are in the process of reworking my portfolio and their guidance calls for depressed returns over the next five years. In most cases when the market hits a plateau, like the 19K mark its approaching you would expect another Bull run.
More than 60% of Market Analyst are expecting a Recession today. I wonder why?
If you have a 401K or other investments, its time to adjust for the roller coaster that's coming.
Dow Jones average was about 12,000 in January 2008. It was 18,500 on Friday. That's about a 50% increase on just a market average. You would hope a broker could have done even better.
My 401k is very happy with the Obama presidency. I was also happy during the dot com boom of the Clinton presidency. Recent republican presidencies have been awful for the stock market.
Pittpanther most didn't because they stayed invested in oil and gas too long.
3:03, I don't invest in oil and gas, so when those prices fell during Obama, again I was happy. I don't want to pay $4 gasoline just to keep my investments happy.
People should stop blaming Obama for their poor investments. His administration has been great for the equity markets.
Pitt, Obama has had nothing to do with the stock market. The Fed has manipulated the markets and forced all money into stocks with its low interest rate policies.
There is a catch. It has destroyed savings with the low interest rate policies. It created a stock bubble of sorts. Public employee retirement systems such as CALPERS and PERS can't diversify into bonds as they normally would.
And the wonderful dot.com boom of the Clinton administration was nothing but a scam. If you rode it up, you did good but it caused the crash that followed beginning in the last year of that administration. How many of those wonderful stocks that made you money (assuming you sold before they disappeared) are still around?
8:16 Did you "learn" your theory from the mail order "university" you "attended"? On the other hand, maybe you are naturally gifted in economics. Great call, it is after all the Clinton's responsibility for the state of the nation's economy today. Hell, the Clintons are probably responsible for the WorldCom disaster.
KF I agree that low interest rates encourage stock market investments, but that shouldn't have been a problem . The risks should have been those investors understood they were making.
I would remind you that the Federal Reserve warned about the increase in subprime mortgages. The Dallas Federal Reserve had a very strong paper about that long before the housing fiasco as they watched sub prime loans increase as a percentage before legislation was used to make that percentage grow faster.
The idea of affordable housing intended by the legislation would have worked as well as 100% VA financing if 1) houses hadn't been appraised for more than actual value and 2) the value of the house and the ability of the borrower to pay had been honestly assessed and tied together as VA always did with it's military applicants.
I would remind you that de-regulation of both Wall Street and banking played the largest role as it allowed all the "players" entrusted with the money of others to play fast and loose with that money .
I would remind you that in the name of debt reduction, Congress gutted the ability to enforce even the few regulations that remained with across their board rather than surgical budget cuts.
I would remind you that changing laws that prevented monopolies resulted in " too big to fail" as well.
We haven't fixed what was broken and aren't likely to fix it.
You can blame a GOP controlled Congress for willy-nilly budget cuts and de-regulation which resulted in throwing out the good with the bad. You can blame the GOP political strategists for selling the notion to the American public that all business is the answer to all our woes and our institutions are to blame for all our woes.
I still remember hearing Alan Greenspan express shock that corporation, banking and Wall Street executives could be so unethical. I wanted to scream at the television, " You fool, you were thinking below the belt when you met Ayn Rand. You bought into her notion that selfishness was honorable and did imagine greed and seeking power would play any part at all? Had you not read economic history or studied human behavior or read the Torah or Bible? Besides that she was educated under Communism and NOT in economics or a capitalistic system. Communism is extreme
in trusting the collective and Rand was extreme in trusting the individual human. God help us. "
What we did is buy the notion that if we have a petty cash drawer and give everyone access to it, no money will be stolen. In this case, we left the house unlocked and put up a sign that read, " We're on vacation and the house is open. Most everything we have of value is inside " How is everyone so damn surprised that nothing was left in the house?"
And, by the way, we just elected a President who admits he took advantage of the weakening of our laws to prevent humans from stealing from others and avoiding taxes to steal from others and avoid taxes.
But, then nobody wanted to read about his 15 lawsuits cause they liked he expressed their anger.
If you are going to hire a thief to secure your property, you better watch him carefully!
This has been fun, thanks Kingfish. But from here on out I am going to stick to the Cartons...
Anyone asserting that the economy is doing well because they have perceived gains in the stock market are either buying the BS their FA or broker is shoveling or are just ignorant.
When computers/internet became mainstream, information became mainstream. Information is a double-edged sword. It's great for those that can process it and can be detrimental to those that make decisions, but don't understand.
This was the model that big banks, insurance, etc employed in influencing stocks. Flash trading, information availability, the FED, etc have all created a wall street economy and killed the main street economy.
It's fake. Some things have a high demand and the demand stays. Demand (and low availability) creates higher prices. Stocks create artificial demands, trade up stocks and then institutional investors buy/sell in large volumes off of those rises.
The average person and low level brokers are nothing but pawns in this scheme that was made obvious by the dot.com and housing bubbles. Money markets are too thin and unrepresentative of reality.
Pitt thinks the Obama presidency affected his 401-k? The same guy who had plans initially to raid your 401-k, like Teddy raided our Social Security Trust Fund? Please don't tell me this is the product of a superior Pennsylvania education.
Obama no more affected the stock market than he affected the demise of Ben Laden or the sun coming up last Wednesday.
Your man that was going to defeat ISIS is currently waging war with Saturday Night Live and a Broadway musical.
Buying and selling stocks is a crap shoot. Unless you have a super computer and live within a couple blocks of Wall St. You are just flipping a coin.
I would like for someone to explain to me how they can compete against a computer that can do thousands of transactions in a second.
9:21, you have the same problem as many other people. You fail to understand that a person should be able to do several things at the same time. For 8 years we had a president that could only do one thing at a time and that one thing was usually playing golf.
I know how hard it is for some people to understand but a person does not have to work 24 hours a day studying how to send a tweet. They can send it then get back to more important things. Something our present president was unable to do.
10:21, Do you realize how foolish you come across suggesting the president shouldn't play golf? We get it, you don't like President Obama. Yet the only thing you keep coming back to in all these comments is his occasional rounds of golf. You have a really shallow well of issues from which to pick if that's your go-to. Will it be ok when Trump plays or do you simply have an aversion to anyone who plays the sport?
Anyone defending Trump for being petty with SNL and the cast of Hamilton is too far up the man's ass to reason with. Even Pence (who would be my choice to be president) thinks the Donald acted a fool and rolled back his rhetoric. He'll be doing that every week from here on out.
10:49, I don't have a problem with a person playing golf. I do have a problem with a person who cannot do two things at a time. Obama can only do one thing at a time and really can't do a good job of that one thing. You have become used to a person with limited capabilities. Most people want a president that can take care of many different things at the same time. Maybe that is why we will soon have a president that can chew gum and walk at the same time.
@11:27 AM
...OR NOT?
Buy Sin Stocks,beer,tobacco, liquor and cannabis to hedge against receccion....where folks figure out whats happening these sectors will soar
12:19, Don't really matter as we will have him for president for at least 4 years. May even extend it to 8 years if the democrats will still use the same old crooked life long politicians.
I thought things with Pesident Elect Trump would be different once he won. Now I see the Twitter remarks really were true as they continue. He doesn't understand people's right protest, disagree with him even at the most insignificant levels, doesn't recognize satire,humor or that SNL isn't a news outlet. My big old mistake! wtf, really?
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