Into the Night (08-04-2020)
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
Into the Night (08-04-2020)
"When government fears the people, there is liberty. When the people fear the government, there is tyranny."
A lie doesn't become the truth, wrong doesn't become right, and evil doesn't become good just because it is accepted by a majority.
Author: Booker T. Washington
Into the Night (08-04-2020)
it was bipartisan elitist malfeasance.. who is charged with conducting due diligence on giving loans? banks are. period.
they created a bubble on purpose. then managed the pop to their own benefit.
this is what the financial industry does, bubblecrafting and timing entries and exits. they abuse the "dumb money", regular people.
Nope. The Fed and Democrat policies.
The 2001 crash wasn't a debt crash. The 2007 crash was.
Banks did it because the Fed was handing out too much cash, and Democrats removed controls on banks being stupid.
Nope. The Fed and the Democrats created the bubble.
Bubblecrafting??? What kind of buzzword is this? No, the Fed and Democrat policies created the bubble in both cases.
That wasn't quite the case. Banks made loans to people who could afford them as long as the market kept going up.
What happened was the Democrats created a set of conditions intended to give the poor and such a better chance to buy a home. This included changes to allowable mortgage plans like $1 or $0 down mortgages, interest only mortgages, ARM's, and the like. These mortgages let those with little or no equity in a home get a mortgage, or allowed someone to get a mortgage with a lower payment per month.
That set up the market not so much for the working poor to get homes so much as for the ambitious in the Middle Class to become landlords buying second and third homes to rent out, or buy more house than they could really afford. It also allowed the less credit cautious to take out second and third mortgages on their home based on equity that really was a paper fiction. That way they could have the dream vacation, buy the RV or boat, have all the toys...
When the crash came people in these situations walked away from homes in which they had little or no actual equity. They weren't losing anything personally other than taking a hit on their fictional credit score. Of the majority of the poor nothing changed .
Into the Night (08-04-2020)
credit default swaps were invented to keep more peripheral banks from blowing the whistle on the whole thing.
The market kept going up because people were buying and selling homes to make a profit off the rising values of the home. Isn't the first time that's happened in history. Probably the first documented case of this to occur is the tulip bubble (also known as mania or fever) from about 1560 to 1637 in Holland. It peaked in late 1636 and by early 1637 the bubble burst and left tens of thousands bankrupt holding worthless tulip bulbs...
who is charged with due diligence?
PoliTalker (08-05-2020)
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