Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: RMF who wrote (544008)	1/15/2010 6:32:52 PM
From: tejek	Read Replies (1) of 1576313

"Frankly, I don't think he knew" If HE didn't know then WHO would? The bankers did....I suspect that's just about it. Look....the regulators were off the job.....Bush had no need for them. How else is the info going to get out. Congressmen would get special treatment when they applied for loans but they always did. So how were they to know that something unique and dishonest was happening. Do you think an underwriter from Countrywide was about to call his/her congressmen and tell them there was something fishy about the loans getting approved? Not in this life time. We all know bankers are a conservative lot. Who knew they were playing like it was casino nite at the local bingo parlor? The BUBBLE in real estate was just like the BUBBLE in the Tech stocks. A LOT of people were predicting BOTH. Maybe the FED should start paying attention!!!!!!! You've got two different things going on here.....there was the bubble in real estate. It can be claimed that low interest money helped fuel that bubble. However, the downside of such a bubble would not have been so severe had the whole system not become completely corrupted with bankers playing fast and loose like a snakeoil salesman on the old Oregon Trail.

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