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They aren't the culprits but the housing debacle doesn't happen without them.
Sub prime home and auto loans have been around forever.There has always been a market for sub prime loans because they pay a higher interest rate than conforming loans.
There are many independent pieces that came together, over time, to create the financial melt down.
From an origination standpoint, both GSEs avoided the worst of it. From an investment standpoint, they invested their capital ( not tax payer monies) in junk. And then they failed to disclose it to their shareholders who originally pressured them to make these investments.
Everyone was making too much money to question how or to ponder the day the bubble would burst.
who was in charge of getting the banks the stimulas money....warren
she is one of the most crookedest newbie senators around
she makes rangle look like an angel
She headed the congressional oversight panel that administered the bank bailout because she was well respected. She did not vote for the bank bailout and has been evenly critical of their practices going back to 2003, the money from the financial lobby made sure that she would never head the credit protection bureau. If you want to look for corruption, look somwhere else.
Maybe you have some details to back up how she was bought and paid for or crooked
Sub prime home and auto loans have been around forever.There has always been a market for sub prime loans because they pay a higher interest rate than conforming loans.
There are many independent pieces that came together, over time, to create the financial melt down.
From an origination standpoint, both GSEs avoided the worst of it. From an investment standpoint, they invested their capital ( not tax payer monies) in junk. And then they failed to disclose it to their shareholders who originally pressured them to make these investments.
Everyone was making too much money to question how or to ponder the day the bubble would burst.
Exactly. George Bush, Barney Frank, The Community Reinvestment Act of 1977, FNMA, even Satan, notwithstanding, the root of the problem was the unholy conspiracy of greed of the financial industry, which resulted in ever more foolish risk. Well, why should those people have cared? There was absolutely no risk to them, even if their companies (not to mention the entire economy) were to crash.
She headed the congressional oversight panel that administered the bank bailout because she was well respected. She did not vote for the bank bailout and has been evenly critical of their practices going back to 2003, the money from the financial lobby made sure that she would never head the credit protection bureau. If you want to look for corruption, look somwhere else.
Maybe you have some details to back up how she was bought and paid for or crooked
Some of the things she complains about could have been a part of the bail-out package. (I should note that my position is it should have never happened but that aside).
We got this BS story that the bonuses could not have been stopped because of contracts and what have you. It's easy. Tear up the contract or go under. No, the entire fiasco was nothing more than making sure the banks were saved from any of the harm they helped create and she was one of the ones that made sure of that.
She could actually do something now but she is simply standing on the wall and telling the banks that she is going to fart in their generally direction and they will take it.
1.On top of fraudulently claiming minority Indian status without any documented ancestry, the Harvard law professor has now been busted practicing law in Massachusetts without a state license.
2.She's also written scholarly papers on health care and bankruptcy without showing her data, and crafted federal health and banking regulations without a brain. Warren is the intellectual architect of the massively unpopular Dodd-Frank Act and ObamaCare, both of which are dragging down the U.S. recovery.
3.She's been accused by several law professors of "repeated instances of scientific misconduct" in authoring papers that have provided the academic underpinnings for financial and health reforms. Peer reviews have dismissed her research as "deeply flawed."
4.The Atlantic magazine, moreover, found a disturbing "pattern" of using bogus metrics to inflate the case for her leftist nostrums. Despite repeated requests, Warren has refused to provide the data she has used in her shabby research. In a word, she's a hack.
5.She's also a charlatan. In fact, in a new ad she doubles down on her oft-told lie that she's a Cherokee Indian, even while admitting she has zero proof "
6.Warren is a proven liar, hypocrite and fraud, and ought not darken the halls of the U.S. Senate as an expert witness let alone a member of that august body.
7. ELIZABETH WARREN SOLD OUT TO BIG INSURANCE AND FOUGHT AGAINST ASBESTOS VICTIMS.....“She’s Supposed To Be A Consumer Advocate?((((Elizabeth Warren denied that she had worked for Traveler’s Insurance, the nation’s largest insurance company, against asbestos victims....... documents, both the legal briefs Warren filed on behalf of Travelers, and Warren’s financial disclosures showing that she received over $212,000 for her work, tell a different story.)))))
she is a know liar...must be why the liberals love her
We got this BS story that the bonuses could not have been stopped because of contracts and what have you. It's easy. Tear up the contract or go under. quote]
Not that easy....
If one lends money to a company, there needs to be reasonable certainty that the company will be able to repay the loan over time. Putting the company on an austerity programs is unlikely going to position that company to retain the talent to dig themselves out of the mess.
The overwhelming majority of employees of the companies involved in this mess had nothing to do with creating the mess.
Massive withdrawals of institutional capital ( not sub primes) created a run on some of these banks and the urgency for action. Not all banks were in the same boat. TARP was a net spread out to avoid panic related to deposits at any individual bank.
We got this BS story that the bonuses could not have been stopped because of contracts and what have you. It's easy. Tear up the contract or go under. quote]
Not that easy....
If one lends money to a company, there needs to be reasonable certainty that the company will be able to repay the loan over time. Putting the company on an austerity programs is unlikely going to position that company to retain the talent to dig themselves out of the mess.
Please, stop it. This "talent" was a large reason for the crash.
If they were that talented they would not have needed bailed out now would they?
Quote:
The overwhelming majority of employees of the companies involved in this mess had nothing to do with creating the mess.
Nor were they getting huge bonuses at the taxpayers expense.
Quote:
Massive withdrawals of institutional capital ( not sub primes) created a run on some of these banks and the urgency for action. Not all banks were in the same boat. TARP was a net spread out to avoid panic related to deposits at any individual bank.
There were no runs. There was no call or need for them.
Some of the things she complains about could have been a part of the bail-out package. (I should note that my position is it should have never happened but that aside).
We got this BS story that the bonuses could not have been stopped because of contracts and what have you. It's easy. Tear up the contract or go under. No, the entire fiasco was nothing more than making sure the banks were saved from any of the harm they helped create and she was one of the ones that made sure of that.
She could actually do something now but she is simply standing on the wall and telling the banks that she is going to fart in their generally direction and they will take it.
TARP was a blank check and Neil Cash-N-Carry (Goldman Sachs) was appointed to dole out the money.
Obama did go after the bonuses and the big banks "magically" paid back all their TARP money buy borrowing from other Fed resources that didn't have strings attached.
Obama did go after the bonuses and the big banks "magically" paid back all their TARP money buy borrowing from other Fed resources that didn't have strings attached.
In words only. As you point out.
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