Watched "The Big Short" housing bubble movie

[LordBrownTrout]

Some dumbshit in Congress who obviously watched too much Fox News asked Dick Fuld how much the CRA had to do with the collapse of Lehman Brothers.

His response: "De minimus."

You won't find a single CEO of any financial institution anywhere who blames the collapse of the economy on the CRA.

Only clueless parrots do.

Why should we listen to CEOs opinions of what crashed the economy?

If they could blame the government for their fuck-up, they would. If they could show the government forced them to make their toxic loans, they would.

But no such evidence exists, because it is the polar opposite of the truth.

Bull. Shit.

 

[Skull Pilot]

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 .

Noting but a stroke will make me a Sanders fan and even then I'm not so sure

 

[JoeNormal]

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...

Try 'Inside Job'.

 

[The Rabbi]

Some dumbshit in Congress who obviously watched too much Fox News asked Dick Fuld how much the CRA had to do with the collapse of Lehman Brothers.

His response: "De minimus."

You won't find a single CEO of any financial institution anywhere who blames the collapse of the economy on the CRA.

Only clueless parrots do.

Why should we listen to CEOs opinions of what crashed the economy?

If they could blame the government for their fuck-up, they would. If they could show the government forced them to make their toxic loans, they would.

But no such evidence exists, because it is the polar opposite of the truth.

The government didnt force them to make toxic loans? Do you not understand what CRC is all about?

 

[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 .

Noting but a stroke will make me a Sanders fan and even then I'm not so sure

Timmy is one of those libs whose knowledge and world view are shaped by fiction and Hollywood movis.

 

[Wilbur Right]

Some dumbshit in Congress who obviously watched too much Fox News asked Dick Fuld how much the CRA had to do with the collapse of Lehman Brothers.

His response: "De minimus."

You won't find a single CEO of any financial institution anywhere who blames the collapse of the economy on the CRA.

Only clueless parrots do.

WHAt you say. All those millions and millions of dollars in fines the big banks paid to the states and federal govt.......those fines werent paid because of the banks wrongdoing.....those millions were paid out of the kindness in the hearts of the banks.

Or at least thats what a stupid fuck like Rabbi believes.

 

[Arianrhod]

The idea the federal government was forcing Wall Street to make these toxic loans is beyond hilarious. It actually serves as a litmus test to see just how ignorant a person is about the ways and means of the global economic crisis.

They're so conditioned to blame low-income people that it's their reflex for everything.

I wonder how they feel about the people whose homes were devalued in the crash? Or the Enron employees who lost their pensions? Must be those people's faults, not the execs who caused the problem.

Idiots.

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

 

[The Rabbi]

The idea the federal government was forcing Wall Street to make these toxic loans is beyond hilarious. It actually serves as a litmus test to see just how ignorant a person is about the ways and means of the global economic crisis.

They're so conditioned to blame low-income people that it's their reflex for everything.

I wonder how they feel about the people whose homes were devalued in the crash? Or the Enron employees who lost their pensions? Must be those people's faults, not the execs who caused the problem.

Idiots.

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

 

[PoliticalChic]

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 .

It was the most exciting film I've seen this year.

The only problem was where it started....

It didn't consider the fact that 'social justice' was the origin of the problem.


Easy to prove: if Franklin Roosevelt, in disdaining Article 1, section 8 of the Constitution, had not inserted the government into the private housing market.....there never would have been a mortgage meltdown.

 

[BluesLegend]

Look OP the lions share of the blame for the housing bubble was greedy individual citizens who stupidly purchased more home than they could afford or took out 2nd mortgages to fund a spending party.

 

[Arianrhod]

The idea the federal government was forcing Wall Street to make these toxic loans is beyond hilarious. It actually serves as a litmus test to see just how ignorant a person is about the ways and means of the global economic crisis.

They're so conditioned to blame low-income people that it's their reflex for everything.

I wonder how they feel about the people whose homes were devalued in the crash? Or the Enron employees who lost their pensions? Must be those people's faults, not the execs who caused the problem.

Idiots.

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

 

[The Rabbi]

The idea the federal government was forcing Wall Street to make these toxic loans is beyond hilarious. It actually serves as a litmus test to see just how ignorant a person is about the ways and means of the global economic crisis.

They're so conditioned to blame low-income people that it's their reflex for everything.

I wonder how they feel about the people whose homes were devalued in the crash? Or the Enron employees who lost their pensions? Must be those people's faults, not the execs who caused the problem.

Idiots.

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

 

[Arianrhod]

They're so conditioned to blame low-income people that it's their reflex for everything.

I wonder how they feel about the people whose homes were devalued in the crash? Or the Enron employees who lost their pensions? Must be those people's faults, not the execs who caused the problem.

Idiots.

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

Explain. If you can.

If you can't you'll just call me stupid for not following your convoluted "reasoning."

Which will it be?

 

[The Rabbi]

You understand no one is blaming low income people, right? Low income people didnt create the lending mandate. Democrats did.

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

Explain. If you can.

If you can't you'll just call me stupid for not following your convoluted "reasoning."

Which will it be?

No. You dont get it. You have to explain how repealing GS in 1999 caused a meltdown 9 years later.
But since you dont have the chops for a discussion like that I'll just mark it as "Fail" on your part.

 

[bendog]

I'm thinking the book and movie didn't do much to help out some posters. LOL

 

[Arianrhod]

Only Democrats voted to repeal Glass-Steagall?

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

Explain. If you can.

If you can't you'll just call me stupid for not following your convoluted "reasoning."

Which will it be?

No. You dont get it. You have to explain how repealing GS in 1999 caused a meltdown 9 years later.
But since you dont have the chops for a discussion like that I'll just mark it as "Fail" on your part.

To someone who doesn't understand the difference between a commercial bank and an investment bank? I'd need crayons.

 

[bendog]

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

Explain. If you can.

If you can't you'll just call me stupid for not following your convoluted "reasoning."

Which will it be?

No. You dont get it. You have to explain how repealing GS in 1999 caused a meltdown 9 years later.
But since you dont have the chops for a discussion like that I'll just mark it as "Fail" on your part.

To someone who doesn't understand the difference between a commercial bank and an investment bank? I'd need crayons.

True, but the meltdown occurred because the derivative debt obligations were incorrectly factored for debt. That was the point of the book, and I assume the movie as well. So, the housing market was going to collapse regardless of who owned the debt. Had GS still existed, the banks going under would probably have affected fewer innocent investors/bank customers, and the bailout not so massive ... even assuming a bailout was necessary.

I'll watch if the movie is on HBO or something I subscribe to. But moneyball was not as good a movie as a book, imo, so I'll pass.

 

[whitehall]

The banks ain't your freaking enemy. They lend money for cars and homes. If you want to consider how bad it can be under moderate socialism just revisit Barney Frank's claim that Fannie Mae was solvent when it was on the verge of collapse. If you want idiots like Frank controlling the production and sale of goods and services vote for Sanders.

 

[The Rabbi]

No. Democrats voted for the Iraq War resolution.

And you feel that has something to do with the subprime meltdown.

As much as repealing GS did.

Explain. If you can.

If you can't you'll just call me stupid for not following your convoluted "reasoning."

Which will it be?

No. You dont get it. You have to explain how repealing GS in 1999 caused a meltdown 9 years later.
But since you dont have the chops for a discussion like that I'll just mark it as "Fail" on your part.

To someone who doesn't understand the difference between a commercial bank and an investment bank? I'd need crayons.

Crayons will not help you understand any of this. Frankly I doubt anything could. But you could start by finishing high school.

 

[bendog]

The banks ain't your freaking enemy. They lend money for cars and homes. If you want to consider how bad it can be under moderate socialism just revisit Barney Frank's claim that Fannie Mae was solvent when it was on the verge of collapse. If you want idiots like Frank controlling the production and sale of goods and services vote for Sanders.

The issue was the banks investing shareholder money in derivatives. GS possibly would have limited the number and type of banks doing this