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Politics : The Obama - Clinton Disaster
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To: H-Man who wrote (2479)12/1/2008 4:33:34 PM
From: DuckTapeSunroof  Read Replies (3) of 103300
 
LOL!

(You seem to be focusing on a very few puny saplings... while ignoring the forest of financial turmoil that lies all around!)

For just one example: ALL the sub-prime mortgages issued in America over the entire past three years would not add up to even 1/100th. the size of the unregulated Credit Default Swap Markets (which amount to over $50 Trillion in notional value....)

And, only a *fraction* of those sub-prime mortgages (issued in the past three years) have gone belly-up (some 95% or so are still performing, and sub-primes issued prior to the recent three years are mostly no problem at all... performing in line with other mortgages).

Furthermore, those GSEs you are complaining about do not even *make* mortgages. (It's private lenders who do so.)

Rather the GSEs buy-up conforming mortgage paper from the private lenders.

No... it's 'keeping the cops off of the beat', letting financial markets bubble-up to PONZI scheme size WITHOUT ANY REGULATION, and permitting global financial firms to run with EXCESSIVE LEVERAGE (50-to-1, 70-to-1, loans-to-reserves, or worse) that grew this crisis into the monster that it has become.

It's always the LEVERAGE that ultimately kills you... (and the putting to sleep of the Regulators that allows the FRAUDS to multiply and grow).
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