Bill Clinton: Sanders fans would ‘shoot every third person on Wall Street’

[mystery-ak]

http://thehill.com/blogs/ballot-box/presidential-races/276542-bill-clinton-sanders-fans-would-shoot-every-third-person

April 15, 2016, 07:27 pm
Bill Clinton: Sanders fans would ‘shoot every third person on Wall Street’

By Mark Hensch

Former President Bill Clinton on Friday joked that Bernie Sanders’s supporters would open fire on Wall Street.

“One of the few things I really haven’t enjoyed about this primary: I think it’s fine that all these young students have been so enthusiastic about [Hillary Clinton's] opponent and [Sanders] sounds so good: 'Just shoot every third person on Wall Street and everything will be fine,’” Clinton said in Fort Washington, N.Y., according to CNN.

“The inequality problem is rooted in the shareholder-first mentality and the absence of training for the jobs of tomorrow,” Clinton added.

Clinton said after the event on Friday said that the quip illustrates Sanders’s focus on blaming the financial industry for America’s woes.

“It’s a joke,” he told MSNCB. "It’s a total joke. It’s meant to point out that’s the unilateral explanation for everything that’s wrong with America. You know, we all need to lighten up here, have a little sense of humor.”

Sanders has made criticizing Wall Street greed, income inequality and wealthy special interests cornerstones of his White House run.

His campaign on Friday released an ad needling Hillary Clinton for giving paid speeches to major financial institutions.

The Vermont lawmaker on Thursday also mocked Clinton’s ties with Wall Street, arguing it made her soft on big banks.

“Secretary Clinton called them out,” Sanders said of Wall Street during the Democratic presidential debate in Brooklyn. "Oh my gosh, they must have been really crushed by this. Was that before or after you received huge sums of money by giving speaking engagements?"

[Formerly Once-Ler]

And Tr*mp says he will shoot strangers on 5th ave to the delight and approval of his brown shirt followers.  We don't need gun control, we need candidate control.

[A-Lert]

I doubt that Bernie has ever handled a firearm. Bernie's appeal is to the young, gullible, idealists.

[Free Vulcan]

Ah, but here's the dirty little socialist secret - what causes all this financial casino bs that has wreaked so much havoc can be boiled down to four basic things:

Excessive liquidity (i.e. printing money by the Fed)
Leverage (i.e borrowing to bet on the markets)
Margin (putting down only part of a financial instrument's value to trade it, even using other instruments as collateral)
Government collateralizing financial instruments (including bundling and repackaging the same)

Of those four things, socialists support all but the margin aspect (at least for financial instruments).

So while they gripe about Wall Street, they are supporters and enablers for the very type of behavior they excoriate.

An example is the mortgage backed securities that were at the heart of the '08 crash. First problem is the govt thru the Community Reinvestment Act gave adjustable rate mortages to those that couldn't afford them (margin and leverage) while the Fed pumped in money (liquidity).

Banks like Countrywide issued tons of these and then had Fannie Mae back them (collateraizing). Fannie and Freddie then bundled groups of mortages, good and bad, together into Mortage Backed Securities (collateralizing).

They then sold these to other banks to use as assets on which they could loan (leverage). When rates started rising, people defaulted and the MBS's became toxic and lost value. Bank liquidity dried up forcing the Fed to pump in more money (liquidity), and the market bubble crashed.

So what would the socialists be against in this scenario? Very little. That's why they're so full of crap.