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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: maxncompany who wrote (10787)7/16/2008 6:30:58 PM
From: surelockhomes  Respond to of 50100
 
Yes, that is really the root of this fiasco. It began back with Larry Summers during the Clinton administration. But it is also a global thing and the Japan near zero rate carry trade. Where we failed in a big way was not regulating the mortgage industry. WS could not sell the debt derivative leveraged drugs without the pushers. The mortgage brokers had free reign. Notice how gone they are now.



To: maxncompany who wrote (10787)7/16/2008 6:32:46 PM
From: JimisJim  Respond to of 50100
 
And Greenie testified to congress that ARMs were a good thing, right before he hiked Fed Funds rate 17 times.

Jim


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