Is This Something Important? November 5, 2011
Posted by Retired Geezer in Crime, Economics.trackback
I’m retired, I’m a moron and I can barely balance my checkbook.
I don’t understand all the financial stuff.
Put me some knowledge here.
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A good example of the fraud that he is talking about is this case of a “liar’s loan”
http://street-pharmacy.blogspot.com/2010/04/our-situation-summed-up-in-one-story.html
‘Liar loans’ (or more formally known as No Doc or Doc Lite or Stated Income loans) were not only legal up to about 2007 but encouraged by the government so who is this guy going to prosecute and for what? I agree with him that this was the cause of the recession and that Bernanke, Geitner, and Holder should be fired but I don’t think this is the reason.
The people who swore falsely to obtain the loans are the real criminals but in divemedic’s world evil bankers must be to blame.
We refinanced about 10 years ago while we were both unemployed.
We were taking money out to gamble on a small business.
I don’t know if any laws were broken but it was way too easy.
Here’s something for you smart guys, like Geoff.
Something called the Laffer Curve
The last study I saw (a couple of years ago) said that we were on the wrong side of the Laffer curve – i.e., increasing taxes would increase revenue, rather than decreasing it. I don’t think that’s true, but that’s what the conversation should really be about: Where exactly are we on the Laffer curve.
Here’s a Civics Quiz.
I got 81%
Beat that, sucka.
96.97% (32 of 33)
Yeah I missed one too. Stupid Puritans.
Mine was the last one about taxes & spending. I rushed it & whiffed.
And be careful with your Puritan bashing. Puritan on Mom’s side of the family, with the Amish on Dad’s side.
That means that I can build a barn in a day, then use the leftover scraps to make a nice big witch-burnin’ bonfire when it gets dark. Dual threat, when you think about it.
I missed “Of the People, By the People and For the People”
and others.
Dang, I missed 3 = 90.91%