Stiglitz: Obama, Romney still need to address housing market

Oct 24, 2012 Full story: Reuters 38

Nobel Prize-winning economist Joseph Stiglitz chided U.S. President Barack Obama and Republican presidential candidate Mitt Romney for not seriously addressing the troubled U.S. housing market during the recent series of presidential debates.

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CHECK SIX

North Port, FL

#2 Oct 24, 2012
Ask barney Frank and Chris Dodd......
imaginaryfriend

Garden City, MI

#3 Oct 24, 2012
Willard Romonoid has a quote on this topic, something on the likes of "Let the market work". In other words, he is happy for people to lose their homes. Tough luck, Bub, you're on the streets. It might have been my Bain Capital that forced your job loss since we shipped yours to China, just like we're doing now in Freeport, Ill. called "Bainsport". Me and my billionaire buddies stuffed our profits in our off shore tax havens, so go away, you're bothering me." Mitty
Paul Ryan would shake his head in agreement because he got Social Security help when his dad died, but you don't count! Paul Ayn Rand Ryan
corman

West Mifflin, PA

#4 Oct 24, 2012
i sure some think tank in washington , who run the numbers for sam ,was well aware of the impact the baby boomer grannies and pops bell shape curve would have on the stock market and housing markets and country when they started to sell their assets,and their would not be a another bell of people to pick up the slack. sam didnt start 401s and IRAs to benefit the saver,it was all about wall street,fees,maintaince charges taxes,and a big pot to fund the system. just try to get your money out... a home that sold for 1 million in 2004 would slide to much much less by 2008.today a big footprint in homes or stocks is just a bigger chance of loosing it .its all about CRAWLING TO AN ASSET CLIFF and then being pushed over it.how many cliffs can you handle? and how many bubbles
xnutmegger

Phoenix, AZ

#5 Oct 24, 2012
imaginaryfriend wrote:
Willard Romonoid has a quote on this topic, something on the likes of "Let the market work". In other words, he is happy for people to lose their homes. Tough luck, Bub, you're on the streets. It might have been my Bain Capital that forced your job loss since we shipped yours to China, just like we're doing now in Freeport, Ill. called "Bainsport". Me and my billionaire buddies stuffed our profits in our off shore tax havens, so go away, you're bothering me." Mitty
Paul Ryan would shake his head in agreement because he got Social Security help when his dad died, but you don't count! Paul Ayn Rand Ryan
Another " Talking points troll" , impressive.

Bush floated a reasonable proposal at the beginning of the housing collaspe , let the tenants rent at a negoiated rate for 3-4-5 years and see what the market looks like then.

In many parts of the country the market bottomed a year ago and is coming back in a steady manner of 1-2% a month.

In others where courts and lawyers get involved it's still sinking.
corman

West Mifflin, PA

#6 Oct 24, 2012
GOVERNMENT GREED ,IS GOOD Changes caused by the Act gramm leach bill

Many of the largest banks, brokerages, and insurance companies desired the Act at the time. The justification was that individuals usually put more money into investments when the economy is doing well, but they put most of their money into savings accounts when the economy turns bad. With the new Act, they would be able to do both 'savings' and 'investment' at the same financial institution, which would be able to do well in both good and bad economic times.
http://en.wikipedia.org/wiki/Gramm%E2%80%93Le...


Gramm–Leach–Bliley Act

Full title

An Act to enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes.


Colloquial name(s)

Financial Services Modernization Act of 1999


Enacted by the

106th United States Congress


Effective

Nov 12, 1999

Legislative history

Introduced in the Senate as Financial Services Modernization Act of 1999 by Phil Gramm on Apr 28, 1999
Committee consideration by: Committee on Banking, Housing, and Urban Affairs
Passed the Senate on May 6, 1999 (54-44)
Passed the House as the Financial Services Act of 1999 on Jul 30, 1999 (241-132)
Reported by the joint conference committee on Nov 2, 1999; agreed to by the Senate on Nov 4, 1999 (90-8) and by the House on Nov 4, 1999 (362-57)
Signed into law by President Bill Clinton on Nov 12, 199

Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr.(R, Virginia), the co-sponsors of the Gramm–Leach–Bliley Act.
The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999,(Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one

Since: Dec 07

Spring, TX

#7 Oct 24, 2012
imaginaryfriend wrote:
Willard Romonoid has a quote on this topic, something on the likes of "Let the market work". In other words, he is happy for people to lose their homes. Tough luck, Bub, you're on the streets. It might have been my Bain Capital that forced your job loss since we shipped yours to China, just like we're doing now in Freeport, Ill. called "Bainsport". Me and my billionaire buddies stuffed our profits in our off shore tax havens, so go away, you're bothering me." Mitty
Paul Ryan would shake his head in agreement because he got Social Security help when his dad died, but you don't count! Paul Ayn Rand Ryan
Many millionaire demorats were invested in Bain back in those days. Including the Pelosi's and Kerrys. One of the former Bain execs ran for office as a democrat. Your propaganda again, is useless.

Steve Pagliuca, a managing director with Bain Capital since 1989. Before that he had been a management consultant with Bain & Company, where he helped establish the firm's business turnaround practice. And, yes, he attended Harvard Business School.

Sounds a lot like Mitt Romney, except that Pagliuca was running as a Democrat. He was one of four candidates in a primary that also included Massachusetts AG Martha Coakley, Congressman Mike Capuano and social entrepreneur Alan Khazei.
Gravediggers

United States

#8 Oct 24, 2012
Just wish President Obama would talk to the American people about his plans, about Libya, about working with republicans, about taxation (cuz taxing just the wealthy will NOT, repeat, will NOT, do more than pay off 19 days of INTEREST on Our debt!)

but all the President does is appear on tv shows.

That is certainly not presidential and not the expected way to 'talk' to the American people.

Lots of people are sleeping!

Wake UP! America! WE HAVE AN ABSOLUTE LOSER IN THE WHITE HOUSE AND A MEDIA THAT LET'S THIS TYPE OF PRESIDENCY PERSIST!

VOTE NO in NOvember
NO to OWEbama
Eviction2012-For closure

Glendora, CA

#10 Oct 24, 2012
Obama had 4 years to change the country for the better.

Seriously, can anyone name one good thing this guy's done for America?

I need not explain how he and his corrupt guttertrash Chicago mafia handlers have made everything worse. Simply look around with your own lying eyes for proof.

We need real jobs, not McWalmart jobs.

We also don't need the Obama Administration continuing on it's current path to oblivion without having to worry about re-election. This would be dangerous to our constitution's survival and our pocketbooks.

Romney is owned by the same international bankers as Obama destroying America from overseas.

However by hittig the reset button on the corrupt, power crazed, Obama administration it gives more Americans time to wake up to what is presently happening to America.

Obama may be likeable but he is incompetent.

In some aspects Obama is right when he says ((("you didn't build/create that, government did.")))

Let's look at what this administration has created in 4 short years and imagine what he can do with 8:

- Socialist eugenics based health care (((Obamacare)))

-NDAA (((National Defense Authorization Act))) where Americans can now be disappeared without a jury

- Out of control (((Crony Capitalism))) where government picks winners and losers based on payouts -not the free market eg. Solyndra, GM, MF Global, Numerous Bank Bailouts, No Prosecution of criminal Banksters

-(((Skyrocketing Unemployment and Outsourcing)))-The idea that welfare checks/EBT cards are paychecks

-(((Fast and Furious))) and other suspected domestic false flags to argue for abolishing the 2nd ammendmant

- Massive (((TSA expansion))) onto America's streets and armed (((survellance drones/now blimps))) operating over US territory.

-(((UN control of U.S. military troops to invade))) Egypt, Syria, parts of Africa, etc. for offshore bankers aka Nazism

-(((Trickle Down Government))) The idea that nothing can be built without (((more government bureaucrats and global warming regulations/taxes))) getting in the way

-(((Throwing Israel -an important ally- under the bus))) by destabalizing all the county's around it but not offering them any assurances of protection

- A (((continuation of Bush's failed policies))), like not getting out of Iraq, Afghanastan, and no closing of Guantanamo torture camps

-(((Polaraized race relations))) eg. Disrespectful hadling of the Treyvon Martin family after his murder -opportunistic my son would have looked like Treyvon soundbite- and media staged racial infighting between Americans setting up for social conflict right before the 2012 election

-(((No Proof Obama supposedly got Osama)))) America was never really allowed to see the body/proof ; -)

-(((Defunding of NASA))) No exploration of the stars for the U.S., leave that to countries that are exceptional

-(((No Plan/ or Budget to Fix Anything going forward if he is re-elected )))-always says what you want to hear, then does the exact opposite hoping you''ll forget by the next speech -(((Sociopathic Liar)))

-(((Obamaphone)))-Massive expansion of this program for his dependant voting base

-(((Unlimited QE3 leading to hyperinflation/ monopoly money))) Dollar is rapidly losing purchasing power resulting in skyrocketing food and GAS PRICES (especially for "green gas" in CA)

-(((Needed a tainted Creepy Crawley moderator to hold his hand during the second debate))) who helped him dodge hard questions he couldn't answer -a (((weak affirmative action President)))

- My favorite (((Legalizing the illegals))) temporarily until the election is over but not once addressing true immigration reform

- The list goes on.

Is this change you can believe in? Is this what you really want another 4 years of?

As Donald Trump would say: Obama you're fired:



Too bad Ron Paul chickened out.

http://www.topix.com/forum/news/immigration/T...

“Obama Shames the USA”

Since: Apr 09

Location hidden

#11 Oct 24, 2012
CHECK SIX wrote:
Ask barney Frank and Chris Dodd......
It's a shame they don't still put people into the stocks in public squares. These two jokers deserve to be spat upon for at least 6 months.
OH NO You Did not

Rancho Cucamonga, CA

#13 Oct 24, 2012
CHECK SIX wrote:
Ask barney Frank and Chris Dodd......
The Democrats that are for destroying the financial system like Obama was out to destroy healthcare. They could not tweak the system to be fair, but had to sledge hammer it. Why don't the liberals listen to the American public?
OH NO You Did not

Rancho Cucamonga, CA

#14 Oct 24, 2012
xnutmegger wrote:
<quoted text>Another " Talking points troll" , impressive.
Bush floated a reasonable proposal at the beginning of the housing collaspe , let the tenants rent at a negoiated rate for 3-4-5 years and see what the market looks like then.
In many parts of the country the market bottomed a year ago and is coming back in a steady manner of 1-2% a month.
In others where courts and lawyers get involved it's still sinking.
It has not bottomed out here in CA, but at least it going slower. No thanks to Sacramento. Unions and Sacramento is trying to destroy the state. They are not for everybody, but their special interests.
OH NO You Did not

Rancho Cucamonga, CA

#15 Oct 24, 2012
Eviction2012-Forclosure wrote:
Obama had 4 years to change the country for the better.
Seriously, can anyone name one good thing this guy's done for America?
I need not explain how he and his corrupt guttertrash Chicago mafia handlers have made everything worse. Simply look around with your own lying eyes for proof.
We need real jobs, not McWalmart jobs.
We also don't need the Obama Administration continuing on it's current path to oblivion without having to worry about re-election. This would be dangerous to our constitution's survival and our pocketbooks.
Romney is owned by the same international bankers as Obama destroying America from overseas.
However by hittig the reset button on the corrupt, power crazed, Obama administration it gives more Americans time to wake up to what is presently happening to America.
Obama may be likeable but he is incompetent.
In some aspects Obama is right when he says ((("you didn't build/create that, government did.")))
Let's look at what this administration has created in 4 short years and imagine what he can do with 8:
- Socialist eugenics based health care (((Obamacare)))
-NDAA (((National Defense Authorization Act))) where Americans can now be disappeared without a jury
- Out of control (((Crony Capitalism))) where government picks winners and losers based on payouts -not the free market eg. Solyndra, GM, MF Global, Numerous Bank Bailouts, No Prosecution of criminal Banksters
-(((Skyrocketing Unemployment and Outsourcing)))-The idea that welfare checks/EBT cards are paychecks
-(((Fast and Furious))) and other suspected domestic false flags to argue for abolishing the 2nd ammendmant
- Massive (((TSA expansion))) onto America's streets and armed (((survellance drones/now blimps))) operating over US territory.
-(((UN control of U.S. military troops to invade))) Egypt, Syria, parts of Africa, etc. for offshore bankers aka Nazism
-(((Trickle Down Government))) The idea that nothing can be built without (((more government bureaucrats and global warming regulations/taxes))) getting in the way
-(((Throwing Israel -an important ally- under the bus))) by destabalizing all the county's around it but not offering them any assurances of protection
- A (((continuation of Bush's failed policies))), like not getting out of Iraq, Afghanastan, and no closing of Guantanamo torture camps
-(((Polaraized race relations))) eg. Disrespectful hadling of the Treyvon Martin family after his murder -opportunistic my son would have looked like Treyvon soundbite- and media staged racial infighting between Americans setting up for social conflict right before the 2012 election
-(((No Proof Obama supposedly got Osama)))) America was never really allowed to see the body/proof ; -)
-(((Defunding of NASA))) No exploration of the stars for the U.S., leave that to countries that are exceptional
-(((No Plan/ or Budget to Fix Anything going forward if he is re-elected )))-always says what you want to hear, then does the exact opposite hoping you''ll forget by the next speech -(((Sociopathic Liar)))
-(((Obamaphone)))-Massive expansion of this program for his dependant voting base
-(((Unlimited QE3 leading to hyperinflation/ monopoly money))) Dollar is rapidly losing purchasing power resulting in skyrocketing food and GAS PRICES (especially for "green gas" in CA)
-(((Needed a tainted Creepy Crawley moderator to hold his hand during the second debate))) who helped him dodge hard questions he couldn't answer -a (((weak affirmative action President)))
- My favorite (((Legalizing the illegals))) temporarily until the election is over but not once addressing true immigration reform
- The list goes on.
Is this change you can believe in? Is this what you really want another 4 years of?
As Donald Trump would say: Obama you're fired:
http://www.youtube.com/watch?v =bFnS7eMX1GgXX
Too bad Ron Paul chickened out.
http://www.topix.com/forum/news/immigration/T...
Agreed!

Since: Feb 07

Location hidden

#16 Oct 25, 2012
The residue of Barney has created the housing failure, and weakened global financial markets. The House and Senate played a numbers game that made it an reElection issue.

Since: Nov 08

Paris

#17 Oct 25, 2012
imaginaryfriend wrote:
Willard Romonoid has a quote on this topic, something on the likes of "Let the market work". In other words, he is happy for people to lose their homes. Tough luck, Bub, you're on the streets. It might have been my Bain Capital that forced your job loss since we shipped yours to China, just like we're doing now in Freeport, Ill. called "Bainsport". Me and my billionaire buddies stuffed our profits in our off shore tax havens, so go away, you're bothering me." Mitty
Paul Ryan would shake his head in agreement because he got Social Security help when his dad died, but you don't count! Paul Ayn Rand Ryan
GO, JOE! In Ohio, Biden Talks About All the Ads Being Run 'Here in Iowa'...

MI: O 47% R 47%...

DETROIT NEWS endorses Romney...

Former Obama National Security Adviser: No Progress In Middle East Under President...
Razors Edge

Oak Lawn, IL

#18 Oct 25, 2012
RayOne wrote:
The residue of Barney has created the housing failure, and weakened global financial markets. The House and Senate played a numbers game that made it an reElection issue.
My fellow Americans I proudly present you with the Absolute facts of our POTUS!!
10 Worst lies of Obama.....

Attempting to select THE ten worst lies told by a pathological liar like Barack Obama is a difficult task. There are so many lies that it is hard to know where to start – a good case can be made for so many of his lies as top ten material. For this reason, there is no claim here to a TOP ten of his lies: ten of his most egregious ones.

During his last State of the Union speech, Barack Obama claimed “American oil production is the highest that it’s been in eight years.”

In fact, the Congressional Research Service reports that 96% of the increase comes from oil fields out of Obama’s control. By contrast, the production from federally-owned oil fields he does control has dropped by 275,000 barrels a day. It is worth noting that privately-owned fields have increased by 395,000 barrels a day.

Obama has told the world there has never been a better friend of Israel in the White House.

On Sunday, an Israeli newspaper reported that senior Obama Administration officials have told Tehran that Barack Obama does not intend to join Israel in any attack on Iran’s nuclear installations. In May 2011, Obama asked G8 member nations to fund the Arab Spring counties who are clearly on their way to planning an all-out attack on Israel.

In May 2011, Obama said the fence between America and Mexico was “basically complete”; yet the Department of Homeland Security admits just 36.3 miles or 5% of the border is fenced.

Obama lied and said abortions would not be publicly funded under Obamacare.

Despite Obama’s empty lies about no public funding for abortions, a March 2012 edict from the Department of Health and Human Services (HHS) unequivocally ruled Obamacare will use our tax dollars to fund abortion.

In April 2009, Obama claimed he “saved or created over 150,000 jobs.”

In an odd burst of veracity, his friends at the AP called him on this lie, pointing out that at that point since Obama came to office, the United States lost more than 1.2 million jobs as per his own Bureau of Labor Statistics. The report continued by pointing out that any jobs “saved or created” by Obama’s stimulus bill were “dwarfed by the number of recent job losses.”

He claimed that by the end of his first term, he would cut the deficit in half.

The truth is that he has given us more new debt than all previous presidents combined.

Remember Obama telling us there would be no earmarks in his 2009 stimulus package? He lied. The bill had over 9,000 earmarks in it, and of course, it failed to deliver even a small improvement for our economy.

Obama told us that without his 2009 stimulus package unemployment would grow to 8.5%. We got the stimulus, and it gave us 44 straight months of unemployment at or above 8%.

Obama lied about his position on Gay “marriage” multiple times, moving from “I am not one to support gay marriage” to his “evolution” in May. That was all a convenient pack of lies.

koachkoach.com

Since: Nov 08

Paris

#19 Oct 25, 2012
LIBERALS GO OFF THE DEEP END AS THEY FACE EXTINCTION…………

UN calls for boycott of US companies doing business in Israel...are you Jews watching this.

TED TURNER:'Good' that US soldiers are committing suicide...Wow, he is like his ex wife Jane Fonda

Secret Service man assigned to Biden busted in sexual assault of girl, 14...oh those liberals are rape happy.......they hate women.

JEEP eyes shifting production to China...
conservative crapola

Allentown, PA

#20 Oct 25, 2012
Le Jimbo wrote:
<quoted text>
"Mitt Romney Kinda Sorta Maybe Supports Gay Rights"

"...the Log Cabin Republicans. The self-described,“only Republican organization dedicated to representing the interests of LGBT Americans and their allies,” endorsed Romney on Tuesday.
Razors Edge

Oak Lawn, IL

#21 Oct 25, 2012
The debate over affirmative action has raged for over four decades, with little give on either side. Most agree that it began as noble effort to jump-start racial integration; many believe it devolved into a patently unfair system of quotas and concealment. Now, with the Supreme Court set to rule on a case that could sharply curtail the use of racial preferences in American universities, law professor Richard Sander and legal journalist Stuart Taylor offer a definitive account of what affirmative action has become, showing that while the objective is laudable, the effects have been anything but.

Sander and Taylor have long admired affirmative action’s original goals, but after many years of studying racial preferences, they have reached a controversial but undeniable conclusion: that preferences hurt underrepresented minorities far more than they help them. At the heart of affirmative action’s failure is a simple phenomenon called mismatch. Using dramatic new data and numerous interviews with affected former students and university officials of color, the authors show how racial preferences often put students in competition with far better-prepared classmates, dooming many to fall so far behind that they can never catch up. Mismatch largely explains why, even though black applicants are more likely to enter college than whites with similar backgrounds, they are far less likely to finish; why there are so few black and Hispanic professionals with science and engineering degrees and doctorates; why black law graduates fail bar exams at four times the rate of whites; and why universities accept relatively affluent minorities over working class and poor people of all races.

Sander and Taylor believe it is possible to achieve the goal of racial equality in higher education, but they argue that alternative policies—such as full public disclosure of all preferential admission policies, a focused commitment to improving socioeconomic diversity on campuses, outreach to minority communities, and a renewed focus on K-12 schooling —will go farther in achieving that goal than preferences, while also allowing applicants to make informed decisions. Bold, controversial, and deeply researched, Mismatch calls for a renewed examination of this most divisive of social programs—and for reforms that will help realize the ultimate goal of racial equality.

SOURCE SANDLER TAYLOR..

Since: Nov 08

Paris

#22 Oct 25, 2012
conservative crapola wrote:
<quoted text>
"Mitt Romney Kinda Sorta Maybe Supports Gay Rights"
"...the Log Cabin Republicans. The self-described,“only Republican organization dedicated to representing the interests of LGBT Americans and their allies,” endorsed Romney on Tuesday.
Don't talk about the LGBT American, they are still pissed at Obama for letting their gay Lybian Ambassador be killed while he and Hillary sat and watched on live feed.
conservative crapola

Allentown, PA

#23 Oct 25, 2012
Le Jimbo wrote:
<quoted text>
If (make that WHEN) Mitt Romney Loses, Blame All the Time the GOP Wasted This Cycle

"...if Mitt Romney loses, is the peculiar way that Republicans have squandered time during this cycle."

http://www.theatlantic.com/politics/archive/2...

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