Who says I never let y’all have fun on the weekend?
For your weekend entertainment pleasure — at least if you’re a nerd like me — I present:
Feels like it needs a bit more, huh? How about:
That’s better.
All joking aside, this is a pretty neat interactive site created by Christine Ries, an economist at Georgia Tech and member of the special council on tax reform which the Legislature created three years ago to produce reform recommendations. Reform recommendations it largely went on to ignore, that is.
But, had those recommendations not largely been ignored, there would be no reason for Tax Reform: The Game. In it, Ries has included several of the recommendations the council made. Players can mix and match them — and see how their choices would affect state revenues.
Here’s a preview of what it looks like, though you’ll have to click through one of the links above to actually play the game:
And if fiscal fun isn’t your idea of a good time this weekend, feel free to use the thread below to discuss other topics.
(H/t to, and more information about the game available at the site of, the Georgia Public Policy Foundation.)
– By Kyle Wingfield
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486 comments Add your comment
Hillbilly D
February 8th, 2013
9:13 pm
http://www.youtube.com/watch?v=U0Hdt7BLDas
td
February 8th, 2013
9:16 pm
Bruno
February 8th, 2013
9:03 pm
The better question is how can you blame business for taking advantage of what the government opened? Is it not true that a company is in business to maximize its return to the investors? The CRA changed the rules of the game (in the name of opening up housing to “everyone” and opened up a whole new market for banks. Yes, they found a way to minimize their risk but then when it was apparent to the government that the methods used had a high risk to the government then the Bush administration went to the Congress multiple times and told them the rules needed to be changed and the Dems (Frank and Dodd) said NO.
Aesop's Fables and other Lib Economic Theories
February 8th, 2013
9:18 pm
The mechanisms set in place as referenced by Rafe above allowed the dishonesty to happen.
I can’t believe this Bruno, he must be smoking some serious hemp or something -
The Act instructs the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation (Section 802.) To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions (Section 804.)
The Community Reinvestment Act of 1977 seeks to address discrimination in loans made to individuals and businesses from low and moderate-income neighborhoods.[7] The Act mandates that all banking institutions that receive Federal Deposit Insurance Corporation (FDIC) insurance be evaluated by Federal banking agencies to determine if the bank offers credit (in a manner consistent with safe and sound operation as per Section 802(b) and Section 804(1)) in all communities in which they are chartered to do business.[3] The law does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution. Federal regulations dictate agency conduct in evaluating a bank’s compliance in five performance areas, comprising twelve assessment factors. This examination culminates in a rating and a written report that becomes part of the supervisory record for that bank.[8]
Dude, you’ve been eaten up by the propaganda, nobody wants the government running one up their rear ends. And you must not at all understand this doublespeak from the socialists, “lend the money to deadbeats but do it safely.” It doesn’t even make any sense.
td
February 8th, 2013
9:28 pm
Hillbilly D
February 8th, 2013
9:08 pm
I agree that it was greed but it was greed produced by the rules put in place by the Government. There was a great deal of money made by a great deal more people then just the banks during this time.
If you are laying blame on multiple sources then you must also lay blame on the peoples own greed of wanting more then they could afford and they knew it. I bought a house in the earlier 90’s. Went for a loan and was told that I could be approved for a loan that was about 10 times my annual salary at a conventional rate would be 50% of mine and my wife’s net monthly. They also told me about how I could get an interest only loan for the same house that would be about 20% of our net monthly and then could redo the loan in 7 years to a conventional when the price of the house went up.
Only a greedy person that wanted to live outside of their means would have ever taken either one of those loans and how many people did it and then just walked away from the houses after the crash?
Bruno
February 8th, 2013
9:30 pm
I remember frying my brain to this song plenty of times in the late 70s. For a while, Manfred Mann had it going on. Mick Rogers can play the crap out of his guitar.
http://www.youtube.com/watch?v=xJyb5-7KPu4
Bruno
February 8th, 2013
9:33 pm
Dude, you’ve been eaten up by the propaganda, nobody wants the government running one up their rear ends.
If you want to keep focusing on the tip of the iceberg, have at it.
If you are laying blame on multiple sources then you must also lay blame on the peoples own greed of wanting more then they could afford and they knew it.
Why would you not include greedy, irresponsible consumers into your equation??
Anyway, this is all old news to me.
Hillbilly D
February 8th, 2013
9:34 pm
td
In my view, they’re all to blame. The people who loaned the money, the people who took the money, and those who did the pencil whipping. One is just as guilty as the other. They pretty much deserved what they got but the hell of it is, millions of people suffered, who had nothing to do with it.
Bruno
February 8th, 2013
9:35 pm
td–Try this one out:
http://www.youtube.com/watch?v=qLRp0r_l7Ug
Aesop's Fables and other Lib Economic Theories
February 8th, 2013
9:38 pm
The CRA was passed as a result of national pressure to address the deteriorating conditions of American cities—particularly lower-income and minority neighborhoods.[4] Community activists, such as Gale Cincotta of National People’s Action in Chicago, had led the national fight to pass, and later to enforce the Act.
During one of the Congressional hearings addressing the proposed changes in 1995, William A. Niskanen, chair of the Cato Institute, criticized both the 1993 and 1994 sets of proposals for political favoritism in allocating credit, for micromanagement by regulators and for the lack of assurances that banks would not be expected to operate at a loss to achieve CRA compliance.
The Senator also demanded full disclosure of any financial “deals” which community groups had with banks, accusing such groups of “extortion”.[56]
With the passage of the Higher Education Opportunity Act into law, Pub.L. 110–315, on August 14, 2008, each appropriate Federal financial supervisory agency shall now consider, as a factor in assessing and taking into account the record of a financial institution’s CRA compliance, any & all low-cost education loans provided by the financial institution to low-income borrowers.
In 2007, Ben Bernanke suggested further increasing the presence of Fannie Mae and Freddie Mac in the affordable housing market to help banks fulfill their CRA obligations by providing them with more opportunities to securitize CRA-related loans.[73]
On April 15, 2008, an FDIC official told the same committee that the FDIC was exploring offering incentives for banks to offer low-cost alternatives to payday loans. Doing so would allow them favorable consideration under their Community Reinvestment Act responsibilities. It had recently begun a two-year pilot project with an initial group of 31 banks.
If you can’t see what a disaster this was to the financial system then you don’t want to.
Bruno
February 8th, 2013
9:38 pm
Mick Rogers jammin it ^^^^^^^^
I like his style, not overly busy.
Hillbilly D
February 8th, 2013
9:45 pm
It’s not about flashy licks.
http://www.youtube.com/watch?v=nyVj2DRoU34
Bruno
February 8th, 2013
9:47 pm
One last song from MMEB. Sorry for the poor sound quality, but the live version of “Spirits In the Night” is just too good to pass up.
http://www.youtube.com/watch?v=Z7wk7n0i1EM
Bruno
February 8th, 2013
9:56 pm
HD–Hearing some strains of Santana in that Gary Moore song.
td
February 8th, 2013
9:56 pm
Hillbilly D
February 8th, 2013
9:45 pm
Never seen that one before. You could actually feel the guys emotions in his playing. Excellent.
Hillbilly D
February 8th, 2013
9:58 pm
Bruno
Yeah that song has always reminded me of Europa.
Probably nobody has ever heard this one. It’s in my old vinyl collection.
http://www.youtube.com/watch?v=4kZhDSU8H34
Lil' Barry Bailout - OBAMAPHONE!!!
February 8th, 2013
9:59 pm
getalife: Tax reform is more welfare for the wealthy.
———-
Mind your own business. Folks who pay no taxes don’t have a say.
Bruno
February 8th, 2013
9:59 pm
For the one who will always have my heart:
http://www.youtube.com/watch?v=IriEq4H1XSU
Bruno
February 8th, 2013
10:06 pm
http://www.youtube.com/watch?v=4R8xTu68r54
Hillbilly D
February 8th, 2013
10:11 pm
Nite all.
http://www.youtube.com/watch?v=xScobZAzMQI
Bruno
February 8th, 2013
10:24 pm
Probably nobody has ever heard this one. It’s in my old vinyl collection.
Well, if we’re going with obscure songs in our vinyl collections, I’m going to have to pull some Brian Eno out for you, HD. I think this was meant to be a love song:
http://www.youtube.com/watch?v=yai4bier1oM
Bruno
February 8th, 2013
10:37 pm
Well, since no one else is here, I guess we can shoot for the fringes of sanity:
http://www.youtube.com/watch?v=TMt1Oy5uQ0w
But Baby’s on fire!
And all the instruments agree that
Her temperature’s rising
But any idiot would know that.
Bruno
February 8th, 2013
10:43 pm
Kyle–Your blog will never be the same after tonight. Enossification is almost completed.
http://www.youtube.com/watch?v=ML5t00ejTmU
Listener’s Tip: You have to play this one backwards to understand the lyrics.
Bruno
February 8th, 2013
10:47 pm
One more from “After the Heat”:
http://www.youtube.com/watch?v=LyLXZGTwQOg
I was just a broken head
I stole the world that others plundered
Now I stumble through the garbage
Slide and tumble, slide and stumble
Thulsa Doom
February 8th, 2013
10:55 pm
Bruno,
I gotta agree with Aesop and td on this. I understand your point that 80% of the lending institutions were not directly under CRA. Its not quite that simple.
From the book I read on the subject HUD began suing some lending institutions who weren’t meeting quotas. And there was other pressures on lenders such as the Feds disallowing expansion of new branches in a couple of cases, the threat of disallowing mergers and acquisitions, etc. And as the article points out I don’t think you had to be directly subject to CRA to be subject to govt intimidation and pressure.
When the Feds started threatening these institutions they were going to start making loans they otherwise hadn’t been making for the previous 100 years. I think it sent a shudder through the industry that cannot be underestimated.
For 100 years banks had a profitable business of making generally safe loans to credit worthy customers. Its not as if they suddenly became greedy in the past decade or so but weren’t greedy in the days of Jaye P. Morgan,Melon, and the robber barons. Something happened that changed the industry. And that something was govt pressure.
Last I think there is a whole list of culprits including individuals, the private sector, Wall St., etc who all bear responsibility.
I’m just saying though that if there was a root cause that got it all rolling it was an ever encroaching govt that began to pressure lending institutions into making loans that they had largely avoided the previous 100 years of home lending.
Bruno
February 8th, 2013
10:56 pm
Another love song by Robert Fripp:
http://www.youtube.com/watch?v=wfwy0BRBc5g
Bruno
February 8th, 2013
11:02 pm
I’m just saying though that if there was a root cause that got it all rolling
TD–The CRA by itself did little. It may have been the initial catalyst, but nothing bad happened from 1977 through 2003 or so.
I think you know me well enough to understand that I think the CRA is crap. I’m not defending it in the least. I’m just criticizing those who can look at a big clusterF like the banking meltdown and put the spotlight on one politically-charged component.
Bruno
February 8th, 2013
11:03 pm
My ode to the banking meltdown:
http://www.youtube.com/watch?v=n0kMtzXjSZo
Bruno
February 8th, 2013
11:07 pm
Hey TD–If you get a chance, invite moonbat betty to come over here sometime. We need some new blood, and I think she’s wasting her time on the lame Bookman blog.
Thulsa Doom
February 8th, 2013
11:09 pm
“It may have been the initial catalyst, but nothing bad happened from 1977 through 2003 or so.”
I know. That’s what I thought. But that’s only because the govt didn’t start enforcing it until political pressure began to mount. And on top of that the article does in fact point out the other laws that strengthened CRA and particularly enforcement.
Like you said there’s still a ton of other blame to go around. I just think that the CRA was the Prime mover that kick started the whole thing. I just had to throw in an homage to Aristotle with that one.
Anyway, good to see ya again. I just got in and thought I would look in chime in a time or 2. Gonna take the pup out in a minute and hit the hay. Been a long and tiring week.
Hell I just read up the comments and realized you are heartbroken over Platinum black I assume. Sorry to hear that man. Hope you get back in the saddle soon.
Thulsa Doom
February 8th, 2013
11:14 pm
Bruno,
She comes over here quite a bit doesn’t she?
I don’t do next door on a Friday night and have barely chimed in there this week. I read the first 20 comments on one thread today and it was exasperating. Just a litany of nothing more than ranting gobbledeegook. Its sad but people would rather repeatedly say stupid stuff like “the smoking gun is in the mushroom cloud” than actually have a discussion. And its the same utter nonsense day after day.
Only thing is I like Jay’s topics better usually than some of the topics Kyle covers. But Kyle has started covering more issues that interest me like economics and fiscal matters and policy.
Bruno
February 8th, 2013
11:14 pm
“Fallen Angel”
http://www.youtube.com/watch?v=P6CyTtHDpm8
Snow white side streets of cold New York City
Stained with his blood it all went wrong
Sick and tired blue wicked and wild
God only knows for how long
Fallen Angel
Fallen Angel
Thulsa Doom
February 8th, 2013
11:15 pm
Oh. I forgot. I’ll tell Betty.
Bruno
February 8th, 2013
11:19 pm
Only thing is I like Jay’s topics better usually than some of the topics Kyle covers. But Kyle has started covering more issues that interest me like economics and fiscal matters and policy.
Kyle has devoted a lot of time to the charter school issue, possibly because he has small children. But, he’s a bright fellow and a credible mouthpiece for conservative topics, so I’m happy to stick around.
Bruno
February 8th, 2013
11:22 pm
Alright, TD, you got me mellowed out a bit:
http://www.youtube.com/watch?v=R6W4XV8o7uw
Reminiscences gone astray
Coming back to enjoy the fray
In a tangle of night and daylight sounds. . .
Bruno
February 8th, 2013
11:22 pm
Hell I just read up the comments and realized you are heartbroken over Platinum black
Tough to lose your best friend…….
Bruno
February 8th, 2013
11:24 pm
I can’t imagine how in the world King Crimson came up with this one:
http://www.youtube.com/watch?v=NWAbNIMsveI
Thulsa Doom
February 8th, 2013
11:27 pm
Bruno,
You, jamvet, and King Crimson. I’m just going to have to up and listen to a bunch of his videos one night. Jam sent me a couple of them awhile back and I digged it but never got fully into it. Anyway, I’m calling it a night. I’ll be around more often for sure though. Doomy.
Bruno
February 8th, 2013
11:32 pm
You, jamvet, and King Crimson
As a bit of rock trivia, it is reported that the “Red” CD by King Crimson was Kurt Cobain’s favorite, and was found in his CD player after he committed suicide.
Bruno
February 8th, 2013
11:34 pm
“The Night Watch”, an homage to the Rembrandt painting:
http://www.youtube.com/watch?v=xkyhAbC4YBI
Bruno
February 8th, 2013
11:47 pm
“Confusion will be my epitaph”
http://www.youtube.com/watch?v=48sciFaO9B8
Bruno
February 8th, 2013
11:52 pm
“I Talk To The Wind”
http://www.youtube.com/watch?v=7kVNl-9cS9c
Bruno
February 9th, 2013
12:02 am
For the one:
http://www.youtube.com/watch?v=95N-jOp8BYE
Bruno
February 9th, 2013
12:13 am
My swan song for the evening:
http://www.youtube.com/watch?v=J9bP-LbR8u8
indigo
February 9th, 2013
8:47 am
Aesop – 6:28
Obama has the courage and integrity to nominate a Republican for an important cabinet post.
Do you really think Romney would have put a Democrat in his cabinet, punkie?
indigo
February 9th, 2013
8:49 am
How many broken hearts can relate to this song?
http://www.youtube.com/watch?v=V8NQbnCmwEg
A Simple Man
February 9th, 2013
8:53 am
Remember, if Obama wanted to change the tax structure – he would have done so. He had two years of filibuster proof congress. If he wanted to outlaw blue neckties he could have done so.
Same can be said about Republicans, but they never had all the power Obama had. We have what we have because it’s what they all want. They said a lot of bull, but in the end it’s what they want. It’s power.
Aesop's Fables and other Lib Economic Theories
February 9th, 2013
9:18 am
inmdie – Romney would not have picked a moron, like obozo did. So that pretty much answers a big NO to your question.
Lil' Barry Bailout - OBAMAPHONE!!!
February 9th, 2013
9:21 am
indigo: Obama has the courage and integrity to nominate a Republican who thinks just like him for an important cabinet post.
——————-
FIFY. Not impressed.
Tiberius - pulling the tail of the left AND right when needed
February 9th, 2013
9:39 am
President Incompetent and courage should never be used in the same sentence, unless preceded by the words “has no”.
indigo
February 9th, 2013
9:44 am
Aesop, Barry
You two tools have long since made it clear that, no matter what Obama does, you will trash him relentlessly.
Because of this, nothing you say here is considered of any importance.