The GOP is desperate for a failing economy......sic

[Dad2three]

(sigh)....sometimes as american's we have to shake our heads in complete and total disbelief of a party, ie the GOP-igs who refuse to work with the president to get shit done for this country, simply because??????. Is it because they're against his policies, is it because they have a better direction or is it because anything that brings success to this black president with unilateral cooperation is a death sentence to these nuts back home with their supporters????

I'm am absolutely amazed when I hear these neo nuts whine about our economy, which started off in the double digits and now lingers at almost 4%. I am amazed at how these morons don't mind spending yet more trillions overseas to fight a war, WE WILL NEVER WIN, but will speak on the poor getting a couple a hundred to eat.

Now these morons are desperate to find the perfect fool, ie House Leader, who not only won't work with Obama, who not only will sanction their already lame dismal congressional record of 0% effectiveness thus far this year, but who will try his or her best to derail the successes of the OBama administration, because....PUTTING THE AMERICAN PEOPLE FIRST IS A FOREIGN ENTITY TO NUTS WHO DON'T KNOW ANY BETTER.

God please help save this country from the GOP Trash heap, and their ignorant supporters, please!!

Why did Bath House Barry double the national debt and put 94,000,000 people out of work?

DUBYA'S LAST F/Y BUDGET ENDS

US DEBT
09/30/2009 $11,909,829,003,511.75 ($11.9 TRILLION)

Government - Historical Debt Outstanding - Annual 2000 - 2014

Bush has been gone for almost SEVEN YEARS... have you been asleep all that time?

The kenyan has DOUBLE THE DEBT since then... wake up and get a life, idiot.

Yep, 8 years of Dubya/GOP "job creator" policies putt US in a HUGE hole right?


Doubled the debt under Obama? WE AT $23+ TRILLION TODAY? Nah, you are thinking Ronnie who TRIPLED the debt and Dubya who ACTUALLY doubled it!

PLEASE give me the POLICIES that DROVE THE DEBT?

 

[blackhawk]

View attachment 52277

Talking points are not truth never have been never will doesn't matter if they are from the left or the right you may know ignore this bit of truth and continue with your bullshit as we all know you will I'm going to cook breakfeast.

 

[my2¢]

I personally believe the GOP being the party of opportunity does better when people's hopes are optimist rather than worrying about their job security and steady incomes. I voted for Romney and we all have our theories for what went wrong. Looking back immediately afterwards it hit me that in playing gloom-and-doom about the economy made folks pessimistic and they were more inclined to opt for the social safety net offered by the keep-them-poor Democrats.

 

[Dad2three]

I personally believe the GOP being the party of opportunity does better when people's hopes are optimist rather than worrying about their job security and steady incomes. I voted for Romney and we all have our theories for what went wrong. Looking back immediately afterwards it hit me that in playing gloom-and-doom about the economy made folks pessimistic and they were more inclined to opt for the social safety net offered by the keep-them-poor Democrats.

The problem with CONservatives/GOP SOOOOOO much of their decisions are based on "beliefs" versus fact based reasoning and objective analysis

 

[Manonthestreet]

Anyone capable of addressing zirp ......instead of just flinging shit........

 

[Dad2three]

Anyone capable of addressing zirp ......instead of just flinging shit........

Perhaps talk to the fed? Just saying.

Next time don't cheer on the GOP policy of destroying the worlds economy?

 

[Manonthestreet]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

 

[Dad2three]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

 

[Harry Dresden]

(sigh)....sometimes as american's we have to shake our heads in complete and total disbelief of a party, ie the GOP-igs who refuse to work with the president to get shit done for this country, simply because??????. Is it because they're against his policies, is it because they have a better direction or is it because anything that brings success to this black president with unilateral cooperation is a death sentence to these nuts back home with their supporters????

I'm am absolutely amazed when I hear these neo nuts whine about our economy, which started off in the double digits and now lingers at almost 4%. I am amazed at how these morons don't mind spending yet more trillions overseas to fight a war, WE WILL NEVER WIN, but will speak on the poor getting a couple a hundred to eat.

Now these morons are desperate to find the perfect fool, ie House Leader, who not only won't work with Obama, who not only will sanction their already lame dismal congressional record of 0% effectiveness thus far this year, but who will try his or her best to derail the successes of the OBama administration, because....PUTTING THE AMERICAN PEOPLE FIRST IS A FOREIGN ENTITY TO NUTS WHO DON'T KNOW ANY BETTER.

God please help save this country from the GOP Trash heap, and their ignorant supporters, please!!

Why would anyone go along with something that is clearly not in their best interest be it for Demoncrats or Republicons?

Listen, we don't vote mf's in, to serve their best interest....we vote in a congress and a senator to serve the best interest of this nation collectively. Do you think for a hot damn minute white politicians back in the day, didn't worry about their job, their lives, when voting for the civil rights act or voting rights for blacks? You bet they did, but they PUT THE GOTDAMNED COUNTRY FIRST!!!

very few people in congress put the country first......i know the guys you believe in told you they do.....thats what they do,if you believe them then thats your problem....both parties will tell you what you want to hear.....i know its hard to believe....

 

[Harry Dresden]

(sigh)....sometimes as american's we have to shake our heads in complete and total disbelief of a party, ie the GOP-igs who refuse to work with the president to get shit done for this country, simply because??????. Is it because they're against his policies, is it because they have a better direction or is it because anything that brings success to this black president with unilateral cooperation is a death sentence to these nuts back home with their supporters????

I'm am absolutely amazed when I hear these neo nuts whine about our economy, which started off in the double digits and now lingers at almost 4%. I am amazed at how these morons don't mind spending yet more trillions overseas to fight a war, WE WILL NEVER WIN, but will speak on the poor getting a couple a hundred to eat.

Now these morons are desperate to find the perfect fool, ie House Leader, who not only won't work with Obama, who not only will sanction their already lame dismal congressional record of 0% effectiveness thus far this year, but who will try his or her best to derail the successes of the OBama administration, because....PUTTING THE AMERICAN PEOPLE FIRST IS A FOREIGN ENTITY TO NUTS WHO DON'T KNOW ANY BETTER.

God please help save this country from the GOP Trash heap, and their ignorant supporters, please!!

Why would anyone go along with something that is clearly not in their best interest be it for Demoncrats or Republicons?

Listen, we don't vote mf's in, to serve their best interest....we vote in a congress and a senator to serve the best interest of this nation collectively. Do you think for a hot damn minute white politicians back in the day, didn't worry about their job, their lives, when voting for the civil rights act or voting rights for blacks? You bet they did, but they PUT THE GOTDAMNED COUNTRY FIRST!!!

Spout much to ur self?

so you think people with prior conditions are leeches and that leaving your health care up to private insurance companies is better? do tell...and remember to justify the death panels that exist when for profit companies make health decisions

The whole system has gotten kind of out of whack Bones. The Affordable Car Act was more of a gift to insurance companies and took a lot of people off of affordable insurance policies. Son is a prime example of that when his insurance cost more than doubled by the insurance companies. Two thousand a month is too much for even a higher scale paid worker.

ACA didn't kick anyone out of their insurance....what happened was the greedy fuckin insurance companies found an out.....instead of having co-pays, like we all use to have, they came up with this splended fuck you in the ass deductible scheme...., high deductibles which lessoned thier out of pocket costs..they passed all on to us and pocketed our premiums to boot.

so why didnt the ones who came up with the ACA have this "out" covered?...and are they doing something about it?.....

 

[Harry Dresden]

so you think people with prior conditions are leeches and that leaving your health care up to private insurance companies is better? do tell...and remember to justify the death panels that exist when for profit companies make health decisions

My brothers wife has lupas and he has no prob getting insurance.....yes he pays more....but still less than anOcare policy........

According to you, your brothers wife is under your brothers policy from his work. Correct? Before and after ACA his wife will get coverage. If his wife with Lupus will apply health insurance by herself she will not get coverage. Under ACA regardless of your health conditions you will get health insurance.

No....He buys a separate policy for her.....and another for the rest of his family.......try not to twist simple statement because it doesn't fit your propaganda

Agenda? You brought up health coverage of your sister in law, isn't it? Right now it's against the law to turn down people with existing conditions.

which is something that should have been done years ago....

 

[Harry Dresden]

Why would anyone go along with something that is clearly not in their best interest be it for Demoncrats or Republicons?

Listen, we don't vote mf's in, to serve their best interest....we vote in a congress and a senator to serve the best interest of this nation collectively. Do you think for a hot damn minute white politicians back in the day, didn't worry about their job, their lives, when voting for the civil rights act or voting rights for blacks? You bet they did, but they PUT THE GOTDAMNED COUNTRY FIRST!!!

Spout much to ur self?

so you think people with prior conditions are leeches and that leaving your health care up to private insurance companies is better? do tell...and remember to justify the death panels that exist when for profit companies make health decisions

The whole system has gotten kind of out of whack Bones. The Affordable Car Act was more of a gift to insurance companies and took a lot of people off of affordable insurance policies. Son is a prime example of that when his insurance cost more than doubled by the insurance companies. Two thousand a month is too much for even a higher scale paid worker.

ACA didn't kick anyone out of their insurance....what happened was the greedy fuckin insurance companies found an out.....instead of having co-pays, like we all use to have, they came up with this splended fuck you in the ass deductible scheme...., high deductibles which lessoned thier out of pocket costs..they passed all on to us and pocketed our premiums to boot.

Son's insurance went from $800.00 a month to $1,800.00 in two years. Definitely insurance company greed; Obummer Care initiation and enabled.

My god, will you nuts ever ever ever ever ever ever place blame where blame belongs???? Gotdamit, every gotdamned issue you nuts have has to be Obama's fault...its called corporate greed....adjust, acknowledge and move the fuck on, gezzzus you nuts make me sick!!

so why does Obama still embrace these greedy assholes on wall street?...do you think its the money?....

 

[RodISHI]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

 

[Dad2three]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

 

[RodISHI]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable. You going to blame Bush on all the lying banksters too? Why not put it back on where the problem truly lies. Start looking at where those banksters got their education. I'm wondering does MIT endorse fraud in those higher education classes. Is that like the norm of their professors there or what?

 

[Dad2three]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable. You going to blame Bush on all the lying banksters too? Why not put it back on where the problem truly lies. Start looking at where those banksters got their education. I'm wondering does MIT endorse fraud in those higher education classes. Is that like the norm of their professors there or what?

"Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable"



WTF ARE YOU TALKING ABOUT? YOU DENY HE WENT IN FRONT OF CONGRESS IN 2001 TO SUPPORT GUTTING REVENUES VIA DUBYA'S TAX CUTS?


BANKSTERS LEARNED THEIR FRAUD FROM UNIVERSITIES? LOL

Hint Dubya WAS warned


FBI saw threat of loan crisis

"It has the potential to be an epidemic,"

A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

"We think we can prevent a problem that could have as much impact as the S&L crisis,"

They ended up with fewer resources, rather than more.

DUBYA GUTTED 1,800+ FROM THE WHITE COLLAR CRIME DIV INSTEAD!



FBI saw threat of loan crisis

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

 

[RodISHI]

Ignorance. On parade......... No refutation of orig point...here's your sign.......BTW this is why a repub will win.....so he can be the fall guy.....if ......if ...they can hold it together another yr

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable. You going to blame Bush on all the lying banksters too? Why not put it back on where the problem truly lies. Start looking at where those banksters got their education. I'm wondering does MIT endorse fraud in those higher education classes. Is that like the norm of their professors there or what?

"Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable"



WTF ARE YOU TALKING ABOUT? YOU DENY HE WENT IN FRONT OF CONGRESS IN 2001 TO SUPPORT GUTTING REVENUES VIA DUBYA'S TAX CUTS?


BANKSTERS LEARNED THEIR FRAUD FROM UNIVERSITIES? LOL

Hint Dubya WAS warned


FBI saw threat of loan crisis

"It has the potential to be an epidemic,"

A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

"We think we can prevent a problem that could have as much impact as the S&L crisis,"

They ended up with fewer resources, rather than more.

DUBYA GUTTED 1,800+ FROM THE WHITE COLLAR CRIME DIV INSTEAD!



FBI saw threat of loan crisis

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

Bush is gone you'll have to find another excuse.

Predatory lending came by way of claiming a good thing would ensue for the poor. The fact is that it was just one more way to tax the poor by using and abusing the people money to get it all started.

https://research.stlouisfed.org/wp/2012/2012-005.pdf

By the time the the late 90's hit prime bankers had sold so many bad loans it was starting to take out the banking industry but it did not fully hit until 2008. (big wheels move slow)

You really are not worth trying to educate on the matter so I'll pass on posting all the links for you.

 

[Dad2three]

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable. You going to blame Bush on all the lying banksters too? Why not put it back on where the problem truly lies. Start looking at where those banksters got their education. I'm wondering does MIT endorse fraud in those higher education classes. Is that like the norm of their professors there or what?

"Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable"



WTF ARE YOU TALKING ABOUT? YOU DENY HE WENT IN FRONT OF CONGRESS IN 2001 TO SUPPORT GUTTING REVENUES VIA DUBYA'S TAX CUTS?


BANKSTERS LEARNED THEIR FRAUD FROM UNIVERSITIES? LOL

Hint Dubya WAS warned


FBI saw threat of loan crisis

"It has the potential to be an epidemic,"

A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

"We think we can prevent a problem that could have as much impact as the S&L crisis,"

They ended up with fewer resources, rather than more.

DUBYA GUTTED 1,800+ FROM THE WHITE COLLAR CRIME DIV INSTEAD!



FBI saw threat of loan crisis

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

Bush is gone you'll have to find another excuse.

Predatory lending came by way of claiming a good thing would ensue for the poor. The fact is that it was just one more way to tax the poor by using and abusing the people money to get it all started.

https://research.stlouisfed.org/wp/2012/2012-005.pdf

By the time the the late 90's hit prime bankers had sold so many bad loans it was starting to take out the banking industry but it did not fully hit until 2008. (big wheels move slow)

You really are not worth trying to educate on the matter so I'll pass on posting all the links for you.

YOUR LINK:

"We find no evidence that lenders increased subprime origination or altered loan pricing around the discrete eligibility cutoffs for the Government-Sponsored Enterprises' (GSEs) aordable housing goals or the Community Reinvestment Act"


Lest We Forget: Why We Had A Financial Crisis

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it.
Lest We Forget: Why We Had A Financial Crisis



Q When did the Bush Mortgage Bubble start?

A The general timeframe is it started late 2004.

From Bush’s President’s Working Group on Financial Markets October 2008

“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”

BANKS KNEW FOR 30 YEARS THE CRAP THEY PRODUCED THAT'S WHY THEY LOBBIED TO "DEREGULATE" SO THEY COULD RUN THEIR PONZI SCHEME ON THE WORLD DUMMY


Again, the Bush Administration gutted the White Collar Crime Division after 911.

The bureau slashed its criminal investigative work force to expand its national security role after the Sept. 11 attacks, shifting more than 1,800 agents, or nearly one-third of all agents in criminal programs, to terrorism and intelligence duties. Prosecutions of frauds against financial institutions dropped 48 percent from 2000 to 2007, insurance fraud cases plummeted 75 percent, and securities fraud cases dropped 17 percent.


This is what less government can look like


More from the NYtimes:
During these years, the bureau asked for an increase of $800 million, but received only $50 million more. In the 2007 budget cycle, the F.B.I. obtained money for a total of one new agent for criminal investigations.

In 2004, one senior F.B.I. official, Chris Swecker, warned publicly that a flood of fraudulent mortgage deals had the potential to become “an epidemic.”

Yet the next year, as public warnings about fraud in the subprime lending markets began to approach their height, the F.B.I. had the equivalent of only 15 full-time agents devoted to mortgage fraud out of a total of some 13,000 agents in the bureau.


That number has grown to 177 agents, who have opened 1,522 cases. But the staffing level is still hundreds of agents below the levels seen in the 1980s during the savings and loan crisis.


Shockingly, the FBI clearly makes the case for the need to combat mortgage fraud in 2005, the height of the housing crisis:


Financial Crimes Report to the Public 2005


The Bush Rubber Stamp Congress ignored the obvious and extremely detailed and well reported crime spree by the FBI.



This helps explain why many of the FBI and DOJ cases now being addressed are for crimes committed WHEN THE BUSH ADMINISTRATION and CONGRESS stripped the White Collar Crime divisions of money and manpower.



The historical "originate and hold" mortgage model was replaced with the "originate and distribute" model. Incentives were such that you could get paid just to originate and sell the mortgages down the pipeline, passing the risk along.

 

[Nosmo King]

$8 trillion of Obama's unpatriotic debt

And yet when a Republican president is handed a budget surplus, how did he manage it?

 

[Dad2three]

Which point? That Dubya.GOP policy left US in the biggest hole since Harding/Coolidge great depression, and GOP has worked against US/Obama from day one?

How funny just spreading the love ain't he (please note the sarcasm).

Remember when Greenspan went in front of the GOP Congress in 2001, to support Dubya's tax cuts, because we were in danger of paying down the debt to fast under Clinton policies?

Heritage said the 2001 tax cuts would actually create so much economic activity, it would pay off the debt by 2010 though.

WHAT HAPPENED AFTER 8 YEARS OF DUBYA/GOP "JOB CREATOR" POLICIES?? lol

Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable. You going to blame Bush on all the lying banksters too? Why not put it back on where the problem truly lies. Start looking at where those banksters got their education. I'm wondering does MIT endorse fraud in those higher education classes. Is that like the norm of their professors there or what?

"Uh, Greenspan warned Congress long before the crash what they were doing was not sustainable"



WTF ARE YOU TALKING ABOUT? YOU DENY HE WENT IN FRONT OF CONGRESS IN 2001 TO SUPPORT GUTTING REVENUES VIA DUBYA'S TAX CUTS?


BANKSTERS LEARNED THEIR FRAUD FROM UNIVERSITIES? LOL

Hint Dubya WAS warned


FBI saw threat of loan crisis

"It has the potential to be an epidemic,"

A top official warned of widening mortgage fraud in 2004, but the agency focused its resources elsewhere

"We think we can prevent a problem that could have as much impact as the S&L crisis,"

They ended up with fewer resources, rather than more.

DUBYA GUTTED 1,800+ FROM THE WHITE COLLAR CRIME DIV INSTEAD!



FBI saw threat of loan crisis

DUBYA FOUGHT ALL 50 STATE AG'S IN 2003, INVOKING A CIVIL WAR ERA RULE SAYING FEDS RULE ON "PREDATORY" LENDERS!

Bush is gone you'll have to find another excuse.

Predatory lending came by way of claiming a good thing would ensue for the poor. The fact is that it was just one more way to tax the poor by using and abusing the people money to get it all started.

https://research.stlouisfed.org/wp/2012/2012-005.pdf

By the time the the late 90's hit prime bankers had sold so many bad loans it was starting to take out the banking industry but it did not fully hit until 2008. (big wheels move slow)

You really are not worth trying to educate on the matter so I'll pass on posting all the links for you.

Banks used cheap capital to create a bubble. Their lending strategies fueled and fed off the housing bubble, and they did so using mortgage products whose performance was premised on continued growth of that bubble.

Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf



The basic structure of the adjustable-rate mortgages that lenders used to grow the subprime market was premised on continued house appreciation. Once the housing bubble peaked subprime ARM loans suddenly became extremely prone to default.