#OccupyWallStreet

[Scylla]

Dnftrtf.

[RTFirefly]

@Scylla

And you shouldn’t be all that surprised if he shows up to respond, seeing as you brought his name up

I noted that I habitually responded to his and certain other posters’ arguments. He hasn’t offered an opinion about that.

If you asked for his opinion on something else, don’t lay that one at my doorstep.

He has more of a right to be here than you do

What, have I missed a moderator ruling?

he hasn’t told everybody he was leaving

What, did someone else do so? I sure missed that.

[RTFirefly]

@Shodan

And posted a big dramatic speech about how you were leaving

I did? Please cite and quote!

I mean, this isn’t something that’s very hard to get right. Even you can do that. No, really. Despite my low opinion of your debating abilities, I have that much faith in you.

[RTFirefly]

The king and the queen of the prom…

Per McClatchy at the link:

Federal Reserve Board data show that:

* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

* Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.

[RTFirefly]

Indeed, when we look at the subprime foreclosure situation, the current coverage of CRA is perversely ironic. Insured depositories were by no means the main providers of the 2-28 adjustable-rate subprime mortgages that have led to so many problems in communities around the countries. Indeed, national banks and their subsidiaries originated only about 10 percent of all subprime mortgages in 2006. Yet only insured depositories are subject to CRA, and only these institutions are motivated by CRA to engage in activities that will help address the problem through community reinvestment and lending activities. In contrast, over half of subprime mortgages of the last several years – and the ones with the most questionable underwriting standards – were originated through mortgage brokers for securitization by nonbanks, including major investment banks. Yet these nonbanks, having played such a large role in the subprime mortgages that have caused such problems in communities nationwide, are not covered by CRA and therefore have no CRA incentive to address these problems.

Ann F. Jaedicke
Deputy Comptroller for Compliance Policy
Office of the Comptroller of the Currency
Testimony Before the Committee on Financial Services, US House of Representatives (February 13, 2008)

[elucidator]

@Shodan

…Originally Posted by Some Country Song or Other, I Think
How can I miss you if you won’t go away?..

That would be Commander Cody and his Lost Planet Airmen, a truly hip, cool band from the late 60’s. My astonishment that you are aware they existed is boundless. Joe Bob 'luc says “Check them out!”

[elucidator]

@Gyrate

…Now then, Scylla, elucidator, RTFirefly, **gonzomax **etc, tell us about your mothers…

Not much to tell, really, I was abandoned by wolves, raised by Texans. I’m assuming that what Scylla says about yours isn’t true.

[jayjay]

@elucidator

That would be Commander Cody and his Lost Planet Airmen, a truly hip, cool band from the late 60’s. My astonishment that you are aware they existed is boundless. Joe Bob 'luc says “Check them out!”

Didn’t Commander Cody do “Hot Rod Lincoln”, too?

[elucidator]

Indeed so, but you don’t surprise me, being gay is almost as cool as being a hippy. Almost.

[jayjay]

@elucidator

Indeed so, but you don’t surprise me, being gay is almost as cool as being a hippy. Almost.

Being a gay Dementoid helps, too…

[Zeriel]

Now that’s a beautiful cite, RT.

[elucidator]

I feel that a rapprochment between the hippy community and the gay community is possible, just as soon as you guys apologize for stealing the pejorative word “straight”.

[Budget_Player_Cadet]

@RTFirefly

The king and the queen of the prom…

Per McClatchy at the link:

inb4"IT’S BIASED"

[RTFirefly]

@Zeriel

Now that’s a beautiful cite, RT.

Figured it was time to drag this thread, kicking and screaming, back to some relevant stuff. I have to cop to a share of the blame for its going in unedifying directions, so I figure I should do my bit to try to bring it back to being what a SDMB thread ought to be.

Along those lines, Barry Ritholtz had a great column yesterday calling out those who blame the crash on the CRA. At the risk of calling up Godwin, he calls it “The Big Lie.”

[RTFirefly]

Krugman is, of course, “the worst, most partisan hack on the planet” according to my favorite poster, but unless he’s making up the data, it doesn’t matter. (His source is the CBO report I linked to on the previous page. I haven’t checked it, but obviously if anyone thinks he’s twisting the data, they know where to go to show it.)

One of the stories floating around is that what’s happening is that it’s not really about the top 1%, but rather the top 20-25%: as us college-educated types are making more money, those who didn’t go to college are making less.

The problem is that, as Krugman’s first graph here shows, the share of national income of those of us in the 81st through 99th percentiles - i.e. the overwhelming bulk of us educated types - has remained basically static between 1979 and 2007. OTOH, the income share of the top 1% basically doubled during that period, from ~8% to ~16%.

His second chart is interesting, too: even within the top 1%, things are quite skewed: while the lowest 9/10 of the top 1% increased their income share by ~50% or so, from 5% to nearly 8%, the top 0.1% roughly tripled their share from under 3% to around 8%.

And since the income share of those of us in the 80-99% range has remained static, the gains of the top 1% in income share have come entirely from the bottom 80%.

That ‘giant sucking sound’ that Ross Perot once referred to apparently was the top 1%, Hoovering up as much of the income of the bottom 80% as they could get their hands on.

(Did you know that labor unions are obselete? Me either. But weakening them has sure helped the guys on top plunder the classes that have historically been most helped by union representation.)

[Shodan]

@RTFirefly

@Shodan

And posted a big dramatic speech about how you were leaving

I did? Please cite and quote!

This goes beyond trolling and on into delusion.

Regards,
Shodan

[RTFirefly]

@Shodan

This goes beyond trolling and on into delusion.

Regards,
Shodan

Thank you for reminding me of why I have such a low opinion of you - and for dispelling my brief illusion that you had a basic, replacement-player level of cluefulness.
What you consider reality:

@Shodan

And posted a big dramatic speech about how you were leaving

What you consider delusion:

@RTFirefly

I’m done with debating you in this thread.

Since that contradicts your version of reality which is obviously correct, please click the little exclamation point in the red triangle at the link, and tell the mods that my post must be corrected to conform with your reality.

And then tell us how that turns out. :rolleyes:

[Paranoid_Randroid]

@Shodan

This goes beyond trolling and on into delusion.

I don’t think RTFirefly ever said he was leaving; he said — in this post, entitled “And a concluding post, at least where Scylla is concerned” — that he was done specifically arguing with Scylla. He only reneged on that in this very short, mocking post.

Thus a diagnosis of “delusion” is probably hasty.

[Scylla]

No. Shodan is correct. What we have here is another lie and another example of trolling.

If you click on the little arrow next to the “originally posted by RTFirefly” in his last post you will get the full and complete “big dramatic speech” that Shodan was referring to.

RTFTroll simply edited it after the fact to leave all the “big dramatic” stuff out.

Unfortunately for him, his quote links to the original, proving the lie.

[RTFirefly]

@Scylla

RTFTroll simply edited it after the fact to leave all the “big dramatic” stuff out.

Which was?

ETA: No, really: if I’m the troll and you’re not, how come I’m the one with links and quotes, and you’re not?