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(Wall Street Journal)   Sen. Chris Dodd is not afraid to announce whose fault the mortgage crisis is: Everyone else but him   (online.wsj.com) divider line
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1217 clicks; posted to Business » and Politics » on 16 Oct 2008 at 4:53 PM (14 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



48 Comments     (+0 »)
 
NewportBarGuy [TotalFark] [OhFark]
2008-10-16 4:06:28 PM  
Can't he just blame it on Sen. Tim Johnson? He's half tard now, right?

/Who oversees the overseers?
 
Dogberry
2008-10-16 4:42:49 PM  
What did you expect, accountability on Capitol Hill?
 
Drunk Astronaut
2008-10-16 4:55:42 PM  
Dodd should have seen it coming, and done something about it.

If he didn't he was incompetent.

/Or bought off.
 
tortilla burger
2008-10-16 4:56:03 PM  
Standard politician-speak
 
jefe414
2008-10-16 4:56:39 PM  
What a P.O.S. I never voted for either CT senator (couple of f'ing jerks the both of them).
 
Solid State Vittles
2008-10-16 4:58:41 PM  

NewportBarGuy: Can't he just blame it on Sen. Tim Johnson? He's half tard Trig now, right?


Fixed.

Personally, I think it's Bob Denver's fault.
 
Jim_Callahan
2008-10-16 4:59:10 PM  
Well... yeah. If they told people the truth about what went wrong, then we'd actually fix it by firing those responsible and actually paying attention to the professional credentials of the next guy we elected. They can't have that, that would screw both of the big parties over pretty hard.
 
pacified
2008-10-16 4:59:32 PM  
Well, let's see here.

Who decided to create unregulated CDSs/CDOs instead of just ordinary bonds? Who did the securitization? Who then decided it'd be smart to leverage them 40:1? Then who got the credit agencies like S&P and Moody's to rate this toxic crap as "AAA"? Then who was dumb enough to by these POS?

Yup, must be Dodd's fault. Couldn't be the greedy bastards on Wall St.

Oh wait, and all them poor black folk.
 
Wooly Bully
2008-10-16 4:59:51 PM  
Oh, I thought it was really the fault of those damn poor people, and that damn Barney Frank. Was that wrong?
 
drjekel_mrhyde
2008-10-16 5:02:08 PM  

Wooly Bully: Oh, I thought it was really the fault of those damn poor people, and that damn Barney Frank. Was that wrong?


I thought it was because gays are trying to marry
 
TofuTheAlmighty [BareFark]
2008-10-16 5:02:15 PM  
No wonder Fark's self-described "bias" is neutral - the admins juke the stats. Making fun of a former Democratic presidential candidate counts as neutral?

On another note, blaming Democrats for the financial crisis is really quite amusing. You have fun denying reality, conservadrones.
 
jerry2a
2008-10-16 5:03:01 PM  

pacified: Yup, must be Dodd's fault. Couldn't be the greedy bastards on Wall St.


Guess they won't be changing their name to the "Chris Dodd Journal" any time soon
 
Wooly Bully
2008-10-16 5:05:13 PM  
I can still fondly remember the day when I mentioned deregulation as the root of the problem, and then being accused of racism by a Fark Independent™ because I "must not have wanted all those poor people to get mortgages." Seriously!
 
orrinbloquy
2008-10-16 5:06:02 PM  

pacified: Who decided to create unregulated CDSs/CDOs instead of just ordinary bonds? Who did the securitization? Who then decided it'd be smart to leverage them 40:1? Then who got the credit agencies like S&P and Moody's to rate this toxic crap as "AAA"? Then who was dumb enough to by these POS?


Fannie/Freddie is a smokescreen for the real problem, and you nailed it.

Did Clinton sign the bill that kept credit default swaps unregulated? Yes, yes he did.

Who slipped this provision into that bill?

John McCain's present-day senior economic advisor, Phil Gramm. The same man who decided in the late 1980s that the government should stop the Guaranteed Student Loan program.

At the time, a college Republican I knew told me I wouldn't have to worry because SCOTUS would strike down Gramm-Rudman as unconstitutional. Pigs continue to fly out of his ass.
 
Random Reality Check
2008-10-16 5:06:09 PM  

pacified: Well, let's see here.

Who decided to create unregulated CDSs/CDOs instead of just ordinary bonds? Who did the securitization? Who then decided it'd be smart to leverage them 40:1? Then who got the credit agencies like S&P and Moody's to rate this toxic crap as "AAA"? Then who was dumb enough to by these POS?

Yup, must be Dodd's fault. Couldn't be the greedy bastards on Wall St.

Oh wait, and all them poor black folk.


What the hell?

Do you honestly expect the people who listen to Hannity while religiously reading Coulter and Malkin to believe anything you wrote?

Good God man, you need to get with the program.
You're either with us or against us.
Me, I can decide who the hell us is.
 
Gulper Eel
2008-10-16 5:06:28 PM  
It was that waitress at La Brasserie back in '85.



It is after midnight and Kennedy and Dodd are just finishing up a long dinner in a private room on the first floor of the restaurant's annex. They are drunk. Their dates, two very young blondes, leave the table to go to the bathroom. (The dates are drunk too. "They'd always get their girls very, very drunk," says a former Brasserie waitress.) Betty Loh, who served the foursome, also leaves the room. Raymond Campet, the co-owner of La Brasserie, tells Gaviglio the senators want to see her.

As Gaviglio enters the room, the six-foot-two, 225-plus-pound Kennedy grabs the five-foot-three, 103-pound waitress and throws her on the table. She lands on her back, scattering crystal, plates and cutlery and the lit candles. Several glasses and a crystal candlestick are broken. Kennedy then picks her up from the table and throws her on Dodd, who is sprawled in a chair. With Gaviglio on Dodd's lap, Kennedy jumps on top and begins rubbing his genital area against hers, supporting his weight on the arms of the chair. As he is doing this, Loh enters the room. She and Gaviglio both scream, drawing one or two dishwashers. Startled, Kennedy leaps up. He laughs. Bruised, shaken and angry over what she considered a sexual assault, Gaviglio runs from the room. Kennedy, Dodd and their dates leave shortly thereafter, following a friendly argument between the senators over the check.
 
orrinbloquy
2008-10-16 5:10:40 PM  

Gulper Eel: It was that waitress at La Brasserie back in '85.


Megan Fox should get that yeast infection looked at.
admin5.offermatica.comView Full Size
 
DoctorCal
2008-10-16 5:12:05 PM  
Redundant headline is redundant.
 
helix400
2008-10-16 5:18:16 PM  

TofuTheAlmighty: Making fun of a former Democratic presidential candidate counts as neutral?


Ya, I thought the same thing. There's a lot of neutral stories that shouldn't be. Like a prior story slamming the McCains for apparently getting a special cell phone tower deal.

I'm almost wondering if these neutral stories are submitted by lazy Farkers, or Farkers who just think government incompetence is a neutral issue.
 
Petey4335
2008-10-16 5:21:27 PM  

Solid State Vittles: Personally, I think it's Bob Denver's fault.


LEAVE GILLIAGAN ALONE!
 
wolvernova
2008-10-16 5:22:41 PM  

jefe414: What a P.O.S. I never voted for either CT senator (couple of f'ing jerks the both of them).


Yeah you guys have it pretty bad there. Couple of scumbags. But if it makes you feel any better, Lieberman is starting to be mistaken as the Senator representing Israel more than he is your state, so maybe that'll help.
 
rppp01a
2008-10-16 5:22:54 PM  
Dear Republicans,

I grew up in a family that belonged to your party. They still do. I was raised believing in what your party espoused: personal responsibility. My family has always worked hard to support their themselves- with varying degrees of success. I believed most everything else you stood for, as a result. As I matured into an adult, I started to naturally question things and found that the world could not be contained entirely within your views. As a consequence, I moved away from a lot of your core beliefs, though I retained the belief in personal responsibility. But then you rejected that value and have sought to blame everyone else but yourself. Your party has nothing to offer people, like me, who work hard to support their family.

Sincerely,

Me

PS-
I know Dodds is a democrat, but I grew up being taught that they were always slimy and liars- people who deflected blame to others. I've come to find that it isn't as simple as taking all the blame or assigning it elsewhere. Dodds should STFU, but republicans should also STFU. They were complicit in everything that has happened. More than complicit.
 
BiffDangler
2008-10-16 5:24:11 PM  
Ya know.. it doesn't have to be that its only one sides fault... yes, the GOP largely supported deregulation that allowed a lot of this.. yes, Clinton knowingly supported it. Yes, it was Phil Gramms' idea.. yes Robert Rubin, the former GS head, supported it. Yes many Republicans did raise the Fannie/Freddie risk issue, yes Barney fag and Chris Dodd were on the take. Yes, the fact of all this doesn't justify why a bunch of douchebags levered up 40-1 on these things. Yes the GOP is bailing out banks.. yes the Dems went along with it so long as they got a few billion for THEIR friends.

It's a giant shiat storm all around. The banks owned the GOP, Fannie and Freddie owned the Dems.

And now we are all taking a bite of the s**t sandwich they made for us.
 
cltbuilder
2008-10-16 5:29:33 PM  

BiffDangler: Ya know.. it doesn't have to be that its only one sides fault... yes, the GOP largely supported deregulation that allowed a lot of this.. yes, Clinton knowingly supported it. Yes, it was Phil Gramms' idea.. yes Robert Rubin, the former GS head, supported it. Yes many Republicans did raise the Fannie/Freddie risk issue, yes Barney fag and Chris Dodd were on the take. Yes, the fact of all this doesn't justify why a bunch of douchebags levered up 40-1 on these things. Yes the GOP is bailing out banks.. yes the Dems went along with it so long as they got a few billion for THEIR friends.

It's a giant shiat storm all around. The banks owned the GOP, Fannie and Freddie owned the Dems.

And now we are all taking a bite of the s**t sandwich they made for us.


All 435 House seats are up for reelection. There are 33 Senate seats this year. If you don't already know who they are, find out.
 
pacified
2008-10-16 5:30:04 PM  

BiffDangler: Ya know.. it doesn't have to be that its only one sides fault... yes, the GOP largely supported deregulation that allowed a lot of this.. yes, Clinton knowingly supported it. Yes, it was Phil Gramms' idea.. yes Robert Rubin, the former GS head, supported it. Yes many Republicans did raise the Fannie/Freddie risk issue, yes Barney fag and Chris Dodd were on the take. Yes, the fact of all this doesn't justify why a bunch of douchebags levered up 40-1 on these things. Yes the GOP is bailing out banks.. yes the Dems went along with it so long as they got a few billion for THEIR friends.

It's a giant shiat storm all around. The banks owned the GOP, Fannie and Freddie owned the Dems.

And now we are all taking a bite of the s**t sandwich they made for us.


Biff, you are wrong.

It's not the Dems or the GOP. It's WALL ST's fault. And now these free marketers want our money.
 
panzerfaustbob
2008-10-16 5:30:12 PM  
As long as I, as an upper-middle-class tax serf, get to bail out Wall Street, Congress, and the poor/stupid sleazebags who defaulted on their mortgages, I'll be happy.
 
Sum Dum Gai
2008-10-16 5:38:37 PM  
Well, Dodd should have done something, but the 2005 bill that the Republicans talk about was a piece of crap. Greenspan, the one who originally called for the regulation, thought that the 2005 bill was so terrible and so watered down that it would only make things worse. And Dodd didn't block it at all -- Bill Frist never scheduled it for debate, largely because both the White House and Greenspan thought that bill was crap.

Granted, someone should have proposed better legislation, and so everyone dropped the ball on that.
 
Snarfangel
2008-10-16 5:43:54 PM  
Unfortunately, there is only an incredibly limited amount of blame to go around.
 
Mr.Insightful
2008-10-16 6:07:16 PM  
Why is this article not labeled "Fascist"? It's a link to the WSJ blaming Dodd. Mind you, I'm sure he deserves some blame, but this ain't exactly a neutral title and all.

One of the reasons FARK modmins are accused of bias, even though they're now getting all defensive about accusations of bias, is maybe because they really do have subconscious bias. Imagine the article and headline flipped, like this:

[New York Times] [Obvious] Sen. Richard Lugar (R-In) is not afraid to announce whose fault the mortgage crisis is: Everyone else but him

There's no way something like that wouldn't be tagged as Commie.

Let me propose that unless the headline is clearly attacking the source, a link to DailyKos is always Commie, and a link to any well known "Fascist" opinion factory (like the WSJ editorial page) is always "Fascist".
 
winterwhile
2008-10-16 6:18:21 PM  
Dem hands all over this mess. But as usual it never their fault.
 
winterwhile
2008-10-16 6:26:09 PM  
Camrade TofuTheAlmighty

when do we get the 100% Comrade Obama tax rate on the rich, so we can fix this mess. Heck with that plummer guy, he will never get his business.
 
Magorn [TotalFark]
2008-10-16 6:26:13 PM  

Drunk Astronaut: Dodd should have seen it coming, and done something about it.

If he didn't he was incompetent.

/Or bought off.


In the last 18 months since the Dems regained control?

how do you feel about those OTHER folks that were in charge for the 7 years prior? any duty of foresight on thier part?
 
Phil Herup
2008-10-16 6:45:38 PM  
He is such a piece of work.

Resign Dodd, you are a disgrace.
 
Gulper Eel
2008-10-16 6:53:00 PM  
Mark the date: a Fark thread where we crapped all over a Connectict senator not named Lieberman.
 
Random Reality Check
2008-10-16 6:57:36 PM  

Phil Herup: He is such a piece of work.

Resign Dodd, you are a disgrace.


You keep saying this crap, even though every time people point out all the reasons why you are full of shiat.

Are you afraid to own up to your party's faults - because regardless of whether or not you will ever take responsibility for the actions of those that you carry water for, the record is open to all to review and decide for themselves. And that must irk you beyond all description.

Face it, the people you voted for, the people you are so desperately trying to defend, your party, is wholly at fault here.

And while you're doing some soul searching, get used to the fact your party is about to be locked out of power and marginalized until they get rid of supporters like you.
 
Random Reality Check
2008-10-16 6:59:03 PM  

Gulper Eel: Mark the date: a Fark thread where we crapped all over a Connectict[sic] senator not named Lieberman.


Because Fark is a bastion of liberal thought?
Jesus, you are one delusional character, aren't you?
 
jake3988 [OhFark]
2008-10-16 7:50:14 PM  
All politicians say this. Clinton, Bush, Dodd, Biden, Obama, McCain, you name it. If something bad happens it's everyone else's fault.
 
badhatharry
2008-10-16 8:39:18 PM  
The Democrats are responsible for coming up with stupid ideas like giving loans to people that can't pay them back. But this economic crisis is bigger than Fannie & Freddie. The entire global financial system is having problems. I don't think we can blame that on giving home loans to poor people.
 
Sabyen91
2008-10-16 8:42:23 PM  
Shouldn't this be a facist(sic) article? Methinks Drew is cooking the books.
 
DarrPara
2008-10-16 10:30:07 PM  
I logged in for the first time in like 2 years to post this:
http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.htmlAll Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008:
Dodd, Christopher J S CT D $165,400
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00000581
SAC Capital Partners $240,600
Citigroup Inc $157,694
Royal Bank of Scotland $155,750
United Technologies $141,950
Bear Stearns $116,250
Goldman Sachs $105,400
American International Group $98,100
St Paul Travelers Companies $96,200
The Hartford $94,350
Ernst & Young $70,750
JPMorgan Chase & Co $67,850
Merrill Lynch $67,300
Morgan Stanley $67,100

Chris Dodd can shove it up his ass.
 
Some Bass Playing Guy [TotalFark]
2008-10-17 12:35:36 AM  
Random Reality Check:
Face it, the people you voted for, the people you are so desperately trying to defend, your party, is wholly at fault here.

Wait. What? The Republicans are entirely responsible for the current financial mess?

It's just plain dumb to assert that. The record is clear and both parties have dirty hands.
 
Remove all Republicans
2008-10-17 1:22:15 AM  

Some Bass Playing Guy: Wait. What? The Republicans are entirely responsible for the current financial mess?

It's just plain dumb to assert that. The record is clear and both parties have dirty hands.


Why is it whenever Republicans are at fault, they go into "well, both parties could have done something better"? The Republicans are the party of deregulation. This was a failure of regulation. This is their fault.
 
xtragrind
2008-10-17 8:12:13 AM  

Remove all Republicans: Why is it whenever Republicans are at fault, they go into "well, both parties could have done something better"? The Republicans are the party of deregulation. This was a failure of regulation. This is their fault.


You're a dumb person.

Seriously.
 
Some Bass Playing Guy [TotalFark]
2008-10-17 9:20:58 AM  

Remove all Republicans: Some Bass Playing Guy: Wait. What? The Republicans are entirely responsible for the current financial mess?

It's just plain dumb to assert that. The record is clear and both parties have dirty hands.

Why is it whenever Republicans are at fault, they go into "well, both parties could have done something better"? The Republicans are the party of deregulation. This was a failure of regulation. This is their fault.


Why is it that Democrats think their shiat doesn't stink?
 
purple helmet
2008-10-17 12:04:14 PM  
We should be removing all incumbents who voted for this bailout mess regardless of party affiliation.
 
moanerific
2008-10-17 12:32:52 PM  
Remove all Republicans:
Why is it whenever Republicans are at fault, they go into "well, both parties could have done something better"? The Republicans are the party of deregulation. This was a failure of regulation. This is their fault.

Because it's not the Republican's fault. See the Community Reinvestment Act and its pumping up under Clinton.

Also Barney Frank and Dodd had ample warming from BUSH and I believe McCain in the past, but chose to ignore it...

/Sorry you can't blame Bush for this like everything else.
//Why are we further empowering the idiots that caused this mess?
 
moanerific
2008-10-17 12:38:18 PM  
Also, the mess is not because of a lack of regulations..it's because of Over-regulation in the form of forcing banks to make loans they would never in their right mind make....

/The bastards aren't innocent, but they had a lot of help from DC.
 
iaazathot
2008-10-17 4:37:51 PM  

Wooly Bully: I can still fondly remember the day when I mentioned deregulation as the root of the problem, and then being accused of racism by a Fark Independent™ because I "must not have wanted all those poor people to get mortgages." Seriously!


Wouldn't shock me a bit. Sometimes they get their notecards out of order and say really amazingly stupid things, as opposed to the usual stupid.
 
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