For Superfreak: What Are the Toxic Assets Worth?

When your car crashes because the brakes went out its kinda silly to blame the the half of tank of gas in your car for it.
 
Superfreak said:
I did not say it was what made them profitable... but it removed restrictions on loans, which enabled more of the loans to be issued Desh.

To pretend they were not profitable before 1999 just shows you dont understand these securities. They have always been profitable desh. What made them so popular was Greenspan keeping interest rates so low for so long that fixed income investors had to seek alternatives.

So you are quite full of shit to pretend that people weren't making money on them before. In fact it simply was that there wasnt as much demand for these investments when interest rates were higher.
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Did you happen to see the CNBC two hour special on tihs called "House of Cards"? It was really good and it went through the role buyers, lenders, mortgage brokers, wall st, rating agencies, the SEC and the Fed all played in this mess.

I would one of the most frustrating were the rating agencies as you said earlier. They were rating the CDO's AAA when they never should have been which of course ends up giving investors a false sense of security. Great special though.
 
And the reason they could was the GLB act of 1999 which allowed the finnacial market to consolidate in a way that made it possible for these asshole who cared more for instant profit instead of the integrity of our market markets long term to hoodwink us into a global financial market dive.

They should NEVER be trusted again. Power corupts and they had too much power because of deregulation.
 
evince said:
And the reason they could was the GLB act of 1999 which allowed the finnacial market to consolidate in a way that made it possible for these asshole who cared more for instant profit instead of the integrity of our market markets long term to hoodwink us into a global financial market dive.

They should NEVER be trusted again. Power corupts and they had too much power because of deregulation.
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translation "I will continue to try to put the bulk of the blame on the GLB act (that Clinton signed into law) and on Wall Street so that I can divert the topic from assessing blame to ALL of those responsible."
 
cawacko said:
Did you happen to see the CNBC two hour special on tihs called "House of Cards"? It was really good and it went through the role buyers, lenders, mortgage brokers, wall st, rating agencies, the SEC and the Fed all played in this mess.

I would one of the most frustrating were the rating agencies as you said earlier. They were rating the CDO's AAA when they never should have been which of course ends up giving investors a false sense of security. Great special though.
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Freak you expect more than a junior high response out of Desh? why

I did see it and I was more than shocked, too me that fraud made Enron look like tiddly winks. I'm astonished dozens if not hundreds didn't go to jail.
 
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