Election Perspectives

[cptjohnstone]

Originally Posted by TexTushHog

Also predicted by Economics Nouriel Roubini and Joe Stiglitz, although they focused more on the root cause -- the housing bubble that precipitated the banking crisis. A number of traders, at GS, and in hedge funds (most notably Michael Burry) also profited handsomely by bets on market failure.

That being said, once you see the market collapse, even if you foresaw it, it does not necessarily follow that you have the luxury to time to react to the collapse. You may have to act quickly, indeed almost overnight in some cases.

total BS, you and Barney Frank and Billy C brought the houing down with unqualied applicants

[slowmover]

Gentleman,
While you may not be interested in facts, I will recommend this to you anyway:
All The Devils Are Here by Bethany McLean and Joe Nocera. It's a well documented book. I was surprised to learn that most of the troubled mortgages were actually "cash out" refinancing, not new mortgages for first time home buyers.

The big problem? Shortcuts to quick, "easy money".

[Randy4Candy]

Originally Posted by slowmover

Gentleman,
While you may not be interested in facts, I will recommend this to you anyway:
All The Devils Are Here by Bethany McLean and Joe Nocera. It's a well documented book. I was surprised to learn that most of the troubled mortgages were actually "cash out" refinancing, not new mortgages for first time home buyers.

The big problem? Shortcuts to quick, "easy money".

Yep, and those who "should have known better" may have, but didn't do a damn thing about it. By all means, we need to make it real easy for it to happen again - somewhere. Just let the good times roll, cash out (or pick up the huge bonus) and screw over a few dozen million people while at it.