Washington Mutual went under. Seized and sold.

[Crazed Rabbit]

They weren't forced to, and don't pretend that they were.

Also are you saying that these Hispanics, Gays and Blacks weren't the best people for the job?

Ever heard of affirmative action?

But they probably weren't forced in this instance.

I'm not saying anything about any group in reference to their individual ability.

What I'm saying is a company should focus on how good their employees are, and how a person looks has no bearing on that. Instead they chose to trumpet something unrelated to their business acumen. So this might be seen as them focusing more on political correctness than making sure there business, doesn't, you know, collapse and get sold off.

Heck, perhaps their employees were the very best, but if management is focusing on getting the ideal ratio of minorities hired, then they aren't focused as much on staying solvent, are they?

CR

[Koga No Goshi]

Ever heard of affirmative action?

But they probably weren't forced in this instance.

I'm not saying anything about any group in reference to their individual ability.

What I'm saying is a company should focus on how good their employees are, and how a person looks has no bearing on that. Instead they chose to trumpet something unrelated to their business acumen. So this might be seen as them focusing more on political correctness than making sure there business, doesn't, you know, collapse and get sold off.

Heck, perhaps their employees were the very best, but if management is focusing on getting the ideal ratio of minorities hired, then they aren't focused as much on staying solvent, are they?

CR

Are you just looking for an excuse to be racist or something? I know you're not pretending that them hiring a bunch of black and hispanic and gay people to be loan brokers or tellers or bank managers had any bearing whatsoever on what the shareholders and executives were doing in closed meetings. With this mortgage crisis, let's see, so far poor people have been blamed, now minorities, next let's blame it on Al Qaida. Or maybe it was all those black people from Katrina. After they got evacuated they all went to work for Washington Mutual and ruined that too. Sounds good. We got this one solved. ;)

[KarlXII]

Heck, perhaps their employees were the very best, but if management is focusing on getting the ideal ratio of minorities hired, then they aren't focused as much on staying solvent, are they?

CR

So you're saying that WaMu failed because it was too focused on hiring minorities than good workers? Are good workers white now?

[Koga No Goshi]

So you're saying that WaMu failed because it was too focused on hiring minorities than good workers? Are good workers white now?

I'm sure you could dig up some black guy at Countrywide and Fannie Mae to blame this on, too, if one was so inclined. Nevermind the fact that the rest of the shareholders and execs were probably 98% white.

[drone]

I'm sure you could dig up some black guy at Countrywide and Fannie Mae to blame this on, too, if one was so inclined. Nevermind the fact that the rest of the shareholders and execs were probably 98% white.

How about this guy?
http://en.wikipedia.org/wiki/Franklin_Raines
How much does "CEO of Fannie Mae" fit in your percentages? Poor choice of direction for this argument.

Because this is just what the discussion needs, someone pulling out the race card. Leave race out of this, we don't need Sharpton getting an .Org account.

[Koga No Goshi]

How about this guy?
http://en.wikipedia.org/wiki/Franklin_Raines
How much does "CEO of Fannie Mae" fit in your percentages? Poor choice of direction for this argument.

Because this is just what the discussion needs, someone pulling out the race card. Leave race out of this, we don't need Sharpton getting an .Org account.

Have you even bothered to read the discussion? I didn't pull out the race card. People are making the argument that these companies failed because of their policy of hiring minorities and boasting a diverse workforce. That is not just ridiculous as an explanation for the mortgage crisis, it is indeed racist.

[drone]

Have you even bothered to read the discussion? I didn't pull out the race card. People are making the argument that these companies failed because of their policy of hiring minorities and boasting a diverse workforce. That is not just ridiculous as an explanation for the mortgage crisis, it is indeed racist.

I've read it, and I think the article posted by CountArach is full of it. I know you didn't start with it, and it is indeed a ridiculous explanation. But you need to be a little more careful about generalizing the culprits as "white rich guys", when one of the main players in this does not fit that description. It only hurts your argument and gives the impression that you are not very informed on the subject matter.

[CountArach]

Something posted as a joke really took this places...

[Crazed Rabbit]

Actually, Koga, don't pretend to know what goes on in companies; I highly doubt you've been in any boardroom meetings.

If a company was pursuing plans to make good PR material and how to hire the people who looked right, then that definitely could impact what effort they could put towards staying solvent.

I'm not saying that's what happened, but its not inconceivable. Suprise - following lefties' little pet projects at companies could actually lead to bad results!

So you're saying that WaMu failed because it was too focused on hiring minorities than good workers? Are good workers white now?

You got some sort of reading comprehension problem?

CR

[AlexanderSextus]

Un-backed Paper money doesnt work. It's inherently inflationary. It just DOESNT WORK!!! Has anyone here ever heard of Von Mises??? The problem is not interest rates or subprime loans, its the fact that the more FIAT currency you print, the worse things get.

Back the money with gold or silver. If you cant do that, find something! anything to back your money is better than NOTHING!!!

the only reason that the global paper money scheme has worked so far is that the american economy has kept things relatively stable. We all know that once the US Economy tanks, everyone else goes with it.

Does any other country back their money with something substantial anymore????

[Koga No Goshi]

Actually, Koga, don't pretend to know what goes on in companies; I highly doubt you've been in any boardroom meetings.

If a company was pursuing plans to make good PR material and how to hire the people who looked right, then that definitely could impact what effort they could put towards staying solvent.

I'm not saying that's what happened, but its not inconceivable. Suprise - following lefties' little pet projects at companies could actually lead to bad results!



You got some sort of reading comprehension problem?

CR

The problem was lack of regulation, period. It doesn't matter if you were giving subprime loans to hispanics, blacks, whites or purple people. Plenty of white people took bad loans, plenty of white people brokered bad loans, plenty of white Wall Street execs made money off making bad loans. Turning this into a race issue is a ridiculous argument and you rightfully look foolish trying to make it.

And while we're on the topic of board rooms, if you think you could walk into these companies that have flopped since last week and see a bunch of brown and black faces, it is you my friend who have probably never been to a board room meeting.

[HoreTore]

Suprise - following lefties' little pet projects at companies could actually lead to bad results!

*looks at the current financial hellhole*

Yeah..... Those righties sure have everything sorted out....

[Ironside]

Actually, Koga, don't pretend to know what goes on in companies; I highly doubt you've been in any boardroom meetings.

If a company was pursuing plans to make good PR material and how to hire the people who looked right, then that definitely could impact what effort they could put towards staying solvent.

I'm not saying that's what happened, but its not inconceivable. Suprise - following lefties' little pet projects at companies could actually lead to bad results!

CR

It is inconceivable, because the recruitment department isn't connected to keeping the company solvent. Or to be more correct, it's about as conceivable as the companies going under because they spent PR on those tv-comercials posted here. While possible, it would require an insane stupidity to be anything more than a bad investement at worst.