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Has America abandoned capitalism?
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boggsman1



Joined: 24 Jun 2002
Posts: 3336
Location: at a computer

PostPosted: Thu Nov 03, 2011 12:56 pm    Post subject: Reply with quote

Mac...your are right. Herm Cain is a funny guy, a great interview, and a successful CEO. But he wont get anywhere near the WhiteHouse. A candidate at least needs to have experience dealing with our politcal system, its important, and Obama has found this out the hard way. The Repubs are heading for Mitt, the same way the Dems settled on Big John, after flirting with Howard Dean...and happily for me , this is the only path to victory for Mr. Obama.
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keycocker



Joined: 10 Jul 2005
Posts: 3036

PostPosted: Thu Nov 03, 2011 1:39 pm    Post subject: Reply with quote

"Now the haters are attacking Cain with outrageous allegations of sexual harrasment"

Cain has identified the haters for us -his list is only conservatives.
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isobars



Joined: 12 Dec 1999
Posts: 13317

PostPosted: Thu Nov 03, 2011 2:01 pm    Post subject: Reply with quote

capetonian wrote:
Back to politics I guess. Looks like the liberal media is too dumb to know when they are being used.


I saw but did not confirm that 94% of Washington reporters vote Democrat.

Most reporters on the national scene live in big cities, most (all?) of which lean far left. Based on their environment, they think they're mainstream. We can see from this forum how that plays out.
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stevenbard



Joined: 11 Nov 1993
Posts: 3634

PostPosted: Thu Nov 03, 2011 3:48 pm    Post subject: Reply with quote

What Mac and Boggs miss is that Cain is a capitalist and a conservative, not a neo-con. There are many conservatives who are just as angry at the repubs as they are the dems.

If Cain can get over this small bump, I believe he will be the nominee. Then American liberals can learn the difference between what they think a black man should be, and what a black man can be.

If Mitt is the nominee, I'll support him, but he won't get my vote until then.
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boggsman1



Joined: 24 Jun 2002
Posts: 3336
Location: at a computer

PostPosted: Thu Nov 03, 2011 3:54 pm    Post subject: Reply with quote

Im not missing anything Mr. Bard. He is woefully unprepared to deal with Washington, thats why he wont win the nomination. And why do conservatives always want to bring up race? Why does it matter?
Could you please explain that last sentence? do you mean you will vote for Cain in the primary, then Mitt in the general election if he is the nominee?
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stevenbard



Joined: 11 Nov 1993
Posts: 3634

PostPosted: Thu Nov 03, 2011 4:59 pm    Post subject: Reply with quote

That's what I mean. And Cain will be the 1st to say he's a Black American, not an African American. I find it refreshing that someone who doesn't understand Washington, might actually be able to tear it apart and get back to the fundamentals that we have rejected. Washington himself wouldn't understand "Washington".

Washington would however, understand OWS as a modern French Revolution in the making....cause he lived it, and would reject it.
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keycocker



Joined: 10 Jul 2005
Posts: 3036

PostPosted: Thu Nov 03, 2011 6:25 pm    Post subject: Reply with quote

The Founding Fathers embraced the French Revolution and vice versa. Statue of Liberty was a gift in honor of that fact.
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swchandler



Joined: 08 Nov 1993
Posts: 5485

PostPosted: Thu Nov 03, 2011 7:06 pm    Post subject: Reply with quote

I love it when a guy like Bard makes things up only to have the truth surface to embarrass him.
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mac



Joined: 07 Mar 1999
Posts: 4683

PostPosted: Thu Nov 03, 2011 7:09 pm    Post subject: Reply with quote

This is the stupidest list of qualifications for a major job that I have ever heard:
Quote:
I find it refreshing that someone who doesn't understand Washington, might actually be able to tear it apart and get back to the fundamentals that we have rejected.


In the conservative world, knowing nothing, but believing in the magic of capitalism is the new religion. Very similar to the old paganism.
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swchandler



Joined: 08 Nov 1993
Posts: 5485

PostPosted: Thu Nov 03, 2011 7:37 pm    Post subject: Reply with quote

There was an telling 3 part series in the LA Times written by Ken Bensinger about "Buy Here Pay Here" auto dealers that have been taking advantage of folks with poor credit ratings that can't get a normal loan. In my view the second part of the series was the most revealing, particularly with respect to Wall Street and the dark side of investment that is built on greed and profit. The following highlights from the article offer a picture of what's going on.

"Stock investors are snatching up shares in Buy Here Pay Here chains and other publicly traded companies in the business. Two of the biggest, America's Car-Mart Inc. and Credit Acceptance Corp., have seen big gains in their share prices this year, outpacing the market.

Buy Here Pay Here is also being boosted by one of the sophisticated financial strategies that drove the nation's recent housing boom and bust: securitization.

Loans on decade-old clunkers are being bundled into securities, just as subprime mortgages were a few years ago. In the last two years, investors have bought more than $15 billion in subprime auto securities.

Although they're backed mainly by installment contracts signed by people who can't even qualify for a credit card, most of these bonds have been rated investment grade. Many have received the highest rating: AAA.

That's because rating firms believe that with tens of thousands of loans lumped together, the securities are safe even if some of the loans prove worthless.

Some analysts worry that the rush to securitization could lead to careless lending by dealers eager to sell more loans, as happened with many mortgage-backed bonds.

"We think that investing in such companies is a ticking time bomb," said Joe Keefe, chief executive of Pax World Management, which steers its investments into businesses it deems socially and environmentally responsible. "It has ethical as well as systemic risk implications."



DriveTime Automotive Group in Phoenix, a chain of 88 dealerships in 17 states has issued two offerings of bundled car loans this year totaling $461 million.

The securities consist of more than 52,000 loans with an average interest rate of 21%. The borrowers' average credit score was 518, according to rating firm DBRS.

That score, out of a possible 850, is known as "deep subprime." A prime score is anything above 720. More than $7 billion in subprime auto securities were sold by a dozen issuers through June 30, compared with $3 billion for the same period last year, according to Moody's Investors Service and Standard & Poor's Ratings Services.

Subprime auto loan issues now represent a larger percentage of all auto-loan securitizations than at any time since 2006, according to Moody's.

That means people who have never set foot on a Buy Here Pay Here lot, including retirement savers, own a small piece of the business."


http://www.latimes.com/business/buy-here-pay-here/la-fi-buyhere-payhere-day-two-20111101,0,3779131.story
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