But the most memorable line came at the end of the call.
“McConnell said the Tea Party was ‘nothing but a bunch of bullies,’” the source said. “And he said ‘you know how you deal with schoolyard bullies? You punch them in the nose and that’s what we’re going to do.’”
Rove, as well as American Crossroads President and CEO Steven J. Law who also serves as the president of sister group Crossroads GPS, were also on the call. Rove “talked in a slightly gentler way, or let’s say, a more diplomatic way,” the source said. “But the message was pretty well the same: That if we’re going to save this thing, we have to back real Republicans.”
The brand is so disconnected from the actual base they cannot define one anymore and wasted trillions. We all know it, and they will not fathom that.
The other brand and the 200 year plan abrogated by Clinton cannot deny the trajectory. Clinton used his Parthian shot and wasted it as rhetoric for the regulation issue.
The Beltway changes them not the other way around.
As we monitor the two sides of a balance sheet depression which we know here well. Those reserves are for what we discussed as reg T and the SEC significantly reformed Rule 2a-7, a regulation governing money market funds. Among other requirements, these reforms required money market funds to hold significant liquidity and imposed stricter maturity limits. The thought map to cover the margin debt leverages we discussed and are well aware of as claims while the SEC Permits Portfolio Margining of Credit Default Swaps.
No clue if it can save anything as they wander past the burning parts of the City.
We can underpin it with Klingberg and his cycle of political deviats. Doctor Quigley seen it early just in that case alone.
https://www.youtube.com/watch?v=-g1TaYYGv8Q explained here for the unintuitive.
Although the CRA was signed into law by Jimmy Carter, two other important acts the Equal Credit Opportunity Act (ECOA) and the Home Mortgage Disclosure Act (HMDA) were signed by a republican, Gerald Ford. The talk show hosts also state that Bill Clinton was responsive for the expansion of CRA and forcing the banks to make bad loans. However, the two major changes in the CRA occurred in 1989 with the passage of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. Both were signed into law by George H. W. Bush. Under FIRREA, the reporting requirements of CRA compliance were expanded. The latter act required Fannie Mae and Freddie Mac to support affordable housing by purchasing CRA-qualifying loans. Even though the talk show hosts have said that up to one half of Fannie and Freddie loans were CRA loans, the act suggests that by the year 2010, that one-third of their purchases be affordable housing loans.
If there were pressures to expand CRA lending, it came in part from the banks themselves. As a result of the Riegel-Neal Interstate Banking and Branching Act of 1994, signed into law by George W. Bush, CRA ratings became an important factor in determining if banks could merge or acquire across state lines. Because advocacy groups would use CRA ratings as a protest against the banks in order to get additional CRA lending, the banks greatly expanded these types of loans. I recall going to a Fed Atlanta conference on CRA lending, compliance and enforcement. A banker told me that the Feds never pressured him into making a bad loan. However, because they wanted to expand into other states, they had instituted a more liberal CRA lending policy. So the truth is that if there is blame to be handed out for a misguided CRA policy, it has to be laid at the feet of the republicans and the banks. Jimmy Carter and Bill Clinton are convenient whipping boys and are well deserving of other blame but CRA lending is not one of them.
As we go forward Much of the financial carnage of the past several years, Clinton said, could have been prevented if only his appointed regulator had been kept on after he left office..
“I think if Arthur Levitt had been on the job at the SEC, my last SEC commissioner, an enormous percentage of what we’ve been through in the last eight or nine years would not have happened.”
Clinton said he regretted not trying to regulate derivatives, but that Republicans would have stood in the way. “Now, I think if I had tried to regulate them because the Republicans were the majority in the Congress, they would have stopped it. But I wish I should have been caught trying. I mean, that was a mistake I made.”
Congress provided the lighter fluid and we know who the matches are. It was no accident on the sticky wage to induce consumer tiny bubbles.
Total bullshit we Austrians already knew, as Clinton knew exactly what he was doing behind the Keynasian veil. They have no excuse today, and as a taxpayer we are not blind either.
If it crashes the market they will in no way or any shape or manner tell us they serve the Letter or the Book.
I find sunlight better than the punch swinging swamp creatures who need to be term limited out. They do not serve the Constitutional Republic in our eyes or my Family in confidence.
tea is served at 5 at home, and water wheat and weather will decide all under His Sun.
Let us then aim to be merciful, even according to the mercy of our heavenly Father to us. And unto him that smiteth thee on the one cheek offer also the other.
