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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (423085)	10/6/2008 7:41:29 PM
From: tejek	Read Replies (1) \| Respond to of 1572372

And people wonder why I hate GM and the GOP chronies that run that company. GM exec Bob Lutz won’t back away from denial of global warming. In February, GM Vice Chairman Bob Lutz defended his previous remarks dismissing global warming as a “total crock of shit.” “My thoughts on what has or hasn’t been the cause of climate change have nothing to do with the decisions I make,” Lutz alleged. Yesterday, Lutz was interviewed by CBS, and again refused to back away from his remarks. CBS reports: “Well they don’t like what you said about global warming,” Stahl says. “Do you want to repeat what you said about global warming?” “Of course not, because this is a family network,” Lutz says. “You don’t think there’s global warming? Is that really true?” Stahl asks. “I’m not going to get into this. Because…,” Lutz replies. “Because you got into so much trouble when you said it the first time?” Stahl asks. “That could be right. Yeah,” Lutz admits. “Well, actually some of them like me,” Lutz said of environmentalists. Watch it: [see vid] “Speaking about his own personal carbon footprint, Lutz acknowledges he and his wife own two helicopters and two jets,” CBS noted. “And remember, this guy is just a heartbeat away from the chairmanship of General Motors,” writes Joe Romm. thinkprogress.org

To: TimF who wrote (423085)	10/7/2008 1:06:56 PM
From: TigerPaw	Read Replies (1) \| Respond to of 1572372

If the original mortgages where less questionable, The way you get banks to not write questionable mortgages is to rate those mortgages lower, therefore they generate less interest return. The fake insurance policies artificially inflated the ratings of risky loans. The mortgage companies were doing just what the market asked of them. They supplied a product that was in great demand. It was the fake insurance that caused the demand to be greater than it would otherwise be. There was an alternative to the insurance, the mortage companies or the security bundlers could have had their own capital reserves to cover losses. This would have also begun to reduce demand for this class of loan. Instead, becasue of a lack of regulation, nobody kept capital reserves for potential failures. TP