President Barack Obama Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Little Joe who wrote (125489)	10/28/2012 1:46:46 PM
From: koan	Read Replies (1) of 149317

<<You conveniently left out the fact that the CDO's were backed by mortgages which were worthless and there came a time when everyone realized this fact, which is what caused the crisis. >> Conveniently-lol? I said they were junk status. The banks were making a fortune selling the bogus loans. Then they made more selling them again as CDO's. Insurance companies (e.g. AIG) were making fortunes selling multiple CDS's on the same real estate property. House of cards. This all happened because Bush refused to regulate them! This is what happens in an unregulated market. Can't you follow my post previous post? I said that. The banks are responsible for the quality of the loans, not the person getting the loan. Ever hear of a credit check or a credit score? Good lord. Banks quit asking for them (because no one was regulating them!) to make more loans and commissions. They sold them and no worries.You don't know that? You paid for it. Banks are regulated now. But the multi trillion dollar derivatives market is not regulated. Just like under bush. Everyone on wall street was making a fortune ripping everyone else off with no regualtions. Making a fortune now. It was that simple. Unregulated capitalism is a bad joke. Wall street had 10 lobbyists for every person in congress. What do you think those guys do for a living?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next