Capitalism fails when it gets too big to fail , and it has

[Mikeoxenormous]

Huge banks aren’t the issue.

Banks who know they can make bad investments or flog insolvent instruments and be bailed out by taxpayers when things go hugely wrong is the issue.

There's much more to it than that.
.

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

 

[Mac1958]

There's much more to it than that.
.

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

 

[Mikeoxenormous]

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

 

[MisterBeale]

We don't have a free market, we have socialism for the rich.

The American Way: Socialism for the Rich, Free Enterprise for the Rest

 

[Mac1958]

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

 

[Mikeoxenormous]

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

 

[Mac1958]

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

Ah, got it.
.

 

[Penelope]

I remember the vet who died in a nursing home, and now Trump has eased the laws concerning fines on nursing homes, a few companies own the nursing homes, they must be his buddies and play golf with him.

 

[Penelope]

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

 

[Mikeoxenormous]

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

That is where we are heading

Liberals like you are willing to give up your rights just for the meager pittance that the liberal elites are going to give you(fucking slave). As long as there is a 2nd amendment people like me(who fought against Marxists in the 1980s and pisses you liberals off) wont allow the elites to turn this country in a Marxists shithole. And when the time comes for choice, you can be on the wrong side(Marxists) or the right side, Patriots, you decide.

 

[Mikeoxenormous]

Do you think any of those FEES ended up in Barney Frank, Chrissy Dodd, or Maxine Waters, campaign funds?

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

whatever democracy we had

Republic you moron.

 

[fncceo]

Huge banks aren’t the issue.

Banks who know they can make bad investments or flog insolvent instruments and be bailed out by taxpayers when things go hugely wrong is the issue.

There's much more to it than that.
.

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

You listed the one thing and you don’t realise it. Of themselves, mortgage backed securities are a safe solid investment. Like most bonds, they are backed by tangible assets.. in the case of MBS, the properties being mortgaged.

However, introduce a mortgage secured by taxpayer money and you’ve created a sub prime nightmare where banks are actually rewarded for giving above markets loans to people with no way to pay for them and in one stroke you’ve created a housing bubble and made worthless the bonds that power the housing market.

The banks didn’t create this system. They only used a system created by politicians to their own advantage. They get paid for making loans and never lose if the loans are defaulted.

 

[Mac1958]

There's much more to it than that.
.

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

You listed the one thing and you don’t realise it. Of themselves, mortgage backed securities are a safe solid investment. Like most bonds, they are backed by tangible assets.. in the case of MBS, the properties being mortgaged.

However, introduce a mortgage secured by taxpayer money and you’ve created a sub prime nightmare where banks are actually rewarded for giving above markets loans to people with no way to pay for them and in one stroke you’ve created a housing bubble and made worthless the bonds that power the housing market.

The banks didn’t create this system. They only used a system created by politicians to their own advantage. They get paid for making loans and never lose if the loans are defaulted.

If you want to focus on that one thing, great.
.

 

[fncceo]

Fundamentally the banking crisis wasn’t about the size of the banks. It was about government promises that no matter what they did they wouldn’t be held fiscally responsible.

You can hate the game. But don’t hate the players.

There's much more to it than that. It was a little complicated.
.

It actually wasn’t. Banks were allowed to make sub prime loans knowing they were backed by the taxpayers and were able to create worthless banking instruments such as mortgage based securities which appeared valuable because the regulators said they were.

The banks were doing these things because they paid congress to set up a system where they could.

When it all went pear-shaped the banks were bailed out by the same politicians that set up the system.

It amazes me that we can vilifiy businesses for doingf wring and yet fully trust the politicians that set up the system that allows this kind of chicanery.

The motivation wasn't that the government would back them up. That had nothing to do with it. It was the fees they were making.

It was the fact that there were no regulations - none, zero - on the content of shit CDO's and CMO's.

It was the fact that the ratings agencies were fooling the world by selling AAA ratings - Treasury Bond-level ratings - for shit securities.

It was the fact that companies like AIG, especially AIG, were not required to have ONE dollar in reserves for the hundreds of billions of dollars of swaps they were selling.

It was the fact that the banks could sell shit mortgages knowing they could package them and have them off their books in 12 hours after the signatures dried.

It was the fact that consumers who knew better signed for mortgages they knew they couldn't afford, especially after the teaser rate was gone.

It was the fact that Greenspan, backed by Rubin and Summers and Clinton and Bush, absolutely refused to regulate securities HE ADMITTED HE DIDN'T UNDERSTAND.

It was the fact that politicians from BOTH parties let it all happen.

For starters.

It. Was. Not. One. Thing.
.

You listed the one thing and you don’t realise it. Of themselves, mortgage backed securities are a safe solid investment. Like most bonds, they are backed by tangible assets.. in the case of MBS, the properties being mortgaged.

However, introduce a mortgage secured by taxpayer money and you’ve created a sub prime nightmare where banks are actually rewarded for giving above markets loans to people with no way to pay for them and in one stroke you’ve created a housing bubble and made worthless the bonds that power the housing market.

The banks didn’t create this system. They only used a system created by politicians to their own advantage. They get paid for making loans and never lose if the loans are defaulted.

If you want to focus on that one thing, great.
.

The one thing is the point. Politics can not be trusted to protect the consumer.

There is no incentive for them to do so.

Even if they destroy the savings of millions and the livelihoods of millions more, they won’t be blamed because we’re too busy blaming. ‘Evil Corporations’

Until we get it into our heads that politics isn’t a solution to market inequalities but the cause of them, we will continue to do the same thing over and over and scream for more of the same.

 

[Penelope]

Wouldn't surprise me at all. And the campaign funds of Republicans.

Further illustrating my point. So?
.

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown

A woman was left stranded on a Baltimore street wearing nothing but a hospital gown, said one bystander who took to social media in a post on Wednesday.

Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

whatever democracy we had

Republic you moron.

Just because the people vote for representatives. Hogwash. When the founding fathers wrote the constitution many were unable to read and the elites ran the show, seems the same as today. You are right we are not a democracy but an old fashion roman republic ran by the elites.

 

[anotherlife]

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

whatever democracy we had

Republic you moron.

Just because the people vote for representatives. Hogwash. When the founding fathers wrote the constitution many were unable to read and the elites ran the show, seems the same as today. You are right we are not a democracy but an old fashion roman republic ran by the elites.

It would be worse if the US was a democracy. Much worse. Are you a statist?

 

[Mikeoxenormous]

So banks who pay fees to people who are trying to stop the Subprime Mortgages? Seems self destructive there doesn't it? Of course liberalism is all about self destruction, where it starts in the womb and killing innocents, then moves on the poverty and enslavement of people to the government, then finally to single payer healthcare where old people are left out to die, because they no longer are an asset to society?

ER staff leaves patient at bus stop in hospital gown Baltimore, that explains it all. A shithole of a city.

I have no idea what this is supposed to mean, or how it pertains to the reasons behind the Meltdown. Try again, without the partisan craziness.
.

I am sorry that you cannot comprehend what has been happening in America when Classical Liberalism was hijacked by the Marxists, and new liberalism started taking hold. One side wants the US to fail so Marxism can take hold, so these Marxists(liberals) do whatever they can to put timebombs in place to collapse the economy and make everyone cry out to the government to save them. Many of US understand this and are suspicious of any establishment politician who makes deals with the devil. Then there are corporations that deal with the devil also, and then they end up getting bailed out by the bigger Satan(establishment pukes) when they go bankrupt.

No one wants Marxism, but you are going to get it. What do you think Marxism is, a few in control of everything, autocrats in control of all. That is where we are heading. Corrupt government and mostly the Cons. The cons and Trump have just destroyed whatever democracy we had.

whatever democracy we had

Republic you moron.

Just because the people vote for representatives. Hogwash. When the founding fathers wrote the constitution many were unable to read and the elites ran the show, seems the same as today. You are right we are not a democracy but an old fashion roman republic ran by the elites.

The Papers of the Founding Fathers Are Now Online

For the past 50 years, teams of editors have been copying documents from historical collections scattered around the world that serve as a record of the Founding Era. They have transcribed hundreds of thousands of documents—letters, diaries, ledgers, and the first drafts of history—and have researched and provided annotation and context to deepen our understanding of these documents.

Do you guys ever stop lying? I remember a while ago, that if you lied, you would lose all respect for those around you, but what I am seeing is like minded liars just let others of their ilk lie and no big deal. Just like with Clinton(I did not have sexual relations with that woman) and Obama(you will save $2,500) once you lie, the "Patriotic" people of the United States, wont ever trust you again. You liberals don't understand this, but when you are mentally challenged Sociopaths, it is understood the way you think.

How to spot a sociopath - 10 red flags that could save you from being swept under the influence of a charismatic nut job

#5) Sociopaths seek to dominate others and "win" at all costs. They hate to lose any argument or fight and will viciously defend their web of lies, even to the point of logical absurdity.

#9) Sociopaths never apologize. They are never wrong. They never feel guilt. They can never apologize. Even if shown proof that they were wrong, they will refuse to apologize and instead go on the attack.

 

[gipper]

and expect it to get only worst not better.

Carl Icahn, a good buddy of Trumps, is known as a corporate raider. Big fish buy little fish, due to greed, they just can have enough money.

Where are the laws to protect against this, and also why are businesses allowed to set up secretive shell companies?

When Bezos is worth BILLIONS but his employees qualify for food stamps, something is wrong. Both parties worship corporate power. The USA is an Oligarchy, but many poor and middle class Americans haven't figured it out yet. Bezos is king of the world and can do anything he wants.

Report: 10% of Amazon Employees in Ohio Are on Food Stamps - Breitbart

Amazon had 1,430 workers and family members benefits as of August, the group said Friday. A typical food-stamp beneficiary receives benefits for about two people, meaning Amazon likely has about 700 workers receiving food stamps, more than 10 percent of its Ohio workforce.

 

[Mikeoxenormous]

and expect it to get only worst not better.

Carl Icahn, a good buddy of Trumps, is known as a corporate raider. Big fish buy little fish, due to greed, they just can have enough money.

Where are the laws to protect against this, and also why are businesses allowed to set up secretive shell companies?

When Bezos is worth BILLIONS but his employees qualify for food stamps, something is wrong. Both parties worship corporate power. The USA is an Oligarchy, but many poor and middle class Americans haven't figured it out yet. Bezos is king of the world and can do anything he wants.

Report: 10% of Amazon Employees in Ohio Are on Food Stamps - Breitbart

Amazon had 1,430 workers and family members benefits as of August, the group said Friday. A typical food-stamp beneficiary receives benefits for about two people, meaning Amazon likely has about 700 workers receiving food stamps, more than 10 percent of its Ohio workforce.

liberalism is all about "DO AS I SAY, NOT AS I DO". When you are a democrat you can get away with anything, even murder..

 

[gipper]

The fake Dr Evil and the real Dr Evil....