Watched "The Big Short" housing bubble movie

[Timmy]

Oh please GW was riding the home owership wave as much as anyone . Shit blew up at the end of his 8 years .

Funny , in the movie they say "they'll just end up blaming poor people ".

Let's not act as if banks are helpless victims . They were all making crazy money . Banks have one of the most powerful lobbies . They didn't want to stop the ride .

 

[Stephanie]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

all yes, it was a Bernie Sanders fairy tale you watched. so go vote for him.

 

[Arianrhod]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Proof?

 

[CrusaderFrank]

It wasn't the Mortgages, it was the Derivatives.

Huh? the mortgages were bad paper to start

 

[Stephanie]

how amazing they put this out right when Bernie baby says he wants to CONTROL the banks? what a coincidence eh? where is the program to give the other side of this? oh they did need one I guess. one sided is all one needs it seems

 

[Clementine]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

Both parties supported the bail out.

In 2004, it was Republicans fighting to investigate the practices that led to the crisis. Dems fought them all the way and claimed there was no problem with Fannie or Freddie. Republicans wanted more regulations and oversight. Dems didn't want anyone looking into them too closely and they accused people of racism for not wanting people to own homes and they said it was a lynching of Franklin Raines, who helped drive the bank into the ground with the foolish practices before leaving with millions in bonuses. The whole crisis initially began with the Clinton administration, who took Carter's Community Reinvestment Act and put it on steroids. Banks were told they have to offer loans to previously redlined areas.

Dems made the toxic loans happen by backing them all with tax payer money. They knew the loans were bad from the start and yet they bought and traded them as if they had value. They knew better and they had to know things would eventually come crashing down. They package and sold loans that weren't worth the paper they were printed on and it became a game of hot potato with no one wanting to get stuck with the worthless loans.

In the end, everyone was screwed. For a while, the banks did great and a few came out unscathed because they knew how to play the game that they were forced to participate in. Dems were using Fannie and Freddie as slush funds. Obama received the second highest amount from the banks. Dems own it and anyone willing to look back at the facts cannot claim otherwise.

 

[Indeependent]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Chump...I went to Citibank for a Mortgage in 2006 after being unemployed for 2 years.
The SOFTWARE rejected my application.
The kid at the desk took my application into the Bank Manager's office and 5 minutes later, the application was Rubber Stamped with Approved.
You get it?
The SOFTWARE rejected my application.
The BANK MANAGER Rubber Stamped Approval.
You get it?

 

[whitehall]

You almost gotta laugh at the screwball left wing socialista logic. Even if their theory is correct that the Banks are the villains in the housing bubble you have to realize that the banks work under a room full of federal regulations and federal agencies. The left wing logic indicates that the government a-holes who failed to supervise the banks should be placed in charge of the whole enchalada.

 

[CrusaderFrank]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Chump...I went to Citibank for a Mortgage in 2006 after being unemployed for 2 years.
The SOFTWARE rejected my application.
The kid at the desk took my application into the Bank Manager's office and 5 minutes later, the application was Rubber Stamped with Approved.
You get it?
The SOFTWARE rejected my application.
The BANK MANAGER Rubber Stamped Approval.
You get it?

Because they sold the fucking paper to F/F!!!!!!!!

Get it?

 

[Stephanie]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

Both parties supported the bail out.

In 2004, it was Republicans fighting to investigate the practices that led to the crisis. Dems fought them all the way and claimed there was no problem with Fannie or Freddie. Republicans wanted more regulations and oversight. Dems didn't want anyone looking into them too closely and they accused people of racism for not wanting people to own homes and they said it was a lynching of Franklin Raines, who helped drive the bank into the ground with the foolish practices before leaving with millions in bonuses. The whole crisis initially began with the Clinton administration, who took Carter's Community Reinvestment Act and put it on steroids. Banks were told they have to offer loans to previously redlined areas.

Dems made the toxic loans happen by backing them all with tax payer money. They knew the loans were bad from the start and yet they bought and traded them as if they had value. They knew better and they had to know things would eventually come crashing down. They package and sold loans that weren't worth the paper they were printed on and it became a game of hot potato with no one wanting to get stuck with the worthless loans.

In the end, everyone was screwed. For a while, the banks did great and a few came out unscathed because they knew how to play the game that they were forced to participate in. Dems were using Fannie and Freddie as slush funds. Obama received the second highest amount from the banks. Dems own it and anyone willing to look back at the facts cannot claim otherwise.

some real truth finally. not someone's made up tale and the reason for voting for Bernie Sanders.

 

[9aces]

It wasn't the Mortgages, it was the Derivatives.

Speaking of which, how do those look today?

Excellent question...Worse than ever.
Obama is the best Republican President ever!

Just goes to show there's not much difference at all between a Republican moderate and a Democrat. Tick tick tick...when comes the boom.

 

[CrusaderFrank]

You Progressive peckerheads should look up how Joe Kennedy made his fortune

Also lookup the current owner of the Democrat Party, George Soros

Short Sellers all

 

[The Rabbi]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

Liberals get their news by watching Hollywood movies and reading comics.

 

[Arianrhod]

You Progressive peckerheads should look up how Joe Kennedy made his fortune

Also lookup the current owner of the Democrat Party, George Soros

Short Sellers all

So what do you recommend doing about it?

 

[CrusaderFrank]

You Progressive peckerheads should look up how Joe Kennedy made his fortune

Also lookup the current owner of the Democrat Party, George Soros

Short Sellers all

So what do you recommend doing about it?

Nothing! Not a fucking thing! Short sellers are awesome! The serve a vital function in capital markets

 

[Toro]

Why were F/F stamping AAA on subprime paper?

GSEs don't rate paper.

 

[Mac1958]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

I've heard it doesn't even touch the AIG credit default swap debacle, the ratings agencies' completely inept role or the abject failure of the regulators to, uh, regulate.

So it sounds like just another biased account of the Meltdown.

I think that makes about 30 of them so far.
.

 

[FA_Q2]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Chump...I went to Citibank for a Mortgage in 2006 after being unemployed for 2 years.
The SOFTWARE rejected my application.
The kid at the desk took my application into the Bank Manager's office and 5 minutes later, the application was Rubber Stamped with Approved.
You get it?
The SOFTWARE rejected my application.
The BANK MANAGER Rubber Stamped Approval.
You get it?

Of course they did. Why would they not?

When you create a set of rules that allows you to loan as much money as you want to anyone, charge a premium for making that loan and the sell the RISK to someone else there is literally zero reason not to make the loan. In that environment it is impossible to not make money.

So many people want to 'blame' the banks when that is nonsensical. It is even worse when you consider that most people disgusted with the banks actually supported paying the banks when the system finally imploded. The truly scary part, those banks that are 'too big to fail' have only gotten LARGER. Nothing has really changed.

 

[Arianrhod]

You Progressive peckerheads should look up how Joe Kennedy made his fortune

Also lookup the current owner of the Democrat Party, George Soros

Short Sellers all

So what do you recommend doing about it?

Nothing! Not a fucking thing! Short sellers are awesome! The serve a vital function in capital markets

Then your work is done here.

 

[Arianrhod]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

I've heard it doesn't even touch the AIG credit default swap debacle, the ratings agencies' completely inept role or the abject failure of the regulators to, uh, regulate.

So it sounds like just another biased account of the Meltdown.

I think that makes about 30 of them so far.
.

Too bad no one can make a documentary covering all of the drill-down detail that this two-hour fictional account didn't cover...