IIRC, the "Global financial Crisis" started in 2007.

No. That is when people noticed it. It started when Bill Clinton put his pen to the revision of the Community Reinvestment Act.

No, it started when "The Fed" left interest rates at record low levels after the 2000/2001 recession. Interest rates should have been increasing from around 2003 on. Speculators were able to borrow "cheap" money and that fueled a speculative bubble. Money was created out of thin air. Too much money, accompanied by false "Triple A" ratings on CDO's, Debt Swaps etc. is what did it. The punters would not have borrowed large amounts to buy these creations if they had been rated as the junk they actually were.

Homes were sold to "Sub Prime" borrowers, not because of Clinton, but so that more CDO's could be created to fill an insatiable market fueled by borrowed money. Afterall, these things had the maximum rating, the investors thought they couldn't lose.

And then Atlas Shrugged. :-)

T.A.

CDO's became a requirement to be able to lend because of the CRA. It has a dollar to the ghetto for a dollar to AAA rated lending provision. So if you lend $1B to an AAA loan suddenly CRA says you have to dump $1B into the ghetto. The entire ghetto isn't worth $1B. Now that is a government mandated bubble! Without the CDO you couldn't get Fannie and Freddie buy the bad paper in the ghetto. If you couldn't get the ghetto paper off your books you couldn't lend more even to AAA rated loans. A bank that can't lend is in big trouble. The fed setting low rates may have made the crash come sooner, but it would have happened no matter the rates the fed set.

Sorry that you still see the symptom as the cause.

BTW it is still on the books. The same places are back on the radio and TV pitching liars loans again. How soon before the bubble bursts again?

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IIRC, the "Global financial Crisis" started in 2007.

No. That is when people noticed it. It started when Bill Clinton put his pen to the revision of the Community Reinvestment Act.

No, it started when "The Fed" left interest rates at record low levels after the 2000/2001 recession. Interest rates should have been increasing from around 2003 on. Speculators were able to borrow "cheap" money and that fueled a speculative bubble. Money was created out of thin air. Too much money, accompanied by false "Triple A" ratings on CDO's, Debt Swaps etc. is what did it. The punters would not have borrowed large amounts to buy these creations if they had been rated as the junk they actually were.

Homes were sold to "Sub Prime" borrowers, not because of Clinton, but so that more CDO's could be created to fill an insatiable market fueled by borrowed money. Afterall, these things had the maximum rating, the investors thought they couldn't lose.

And then Atlas Shrugged. :-)

T.A.

IIRC, the "Global financial Crisis" started in 2007.

No. That is when people noticed it. It started when Bill Clinton put his pen to the revision of the Community Reinvestment Act.

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Obert, sounds like you are arguing with yourself here. Oh, and by the way, which definition of liberalism are you using today?

No, the reason the US economy if failing is because of liberalism.

Where does he get this crap from?

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Reality Internet Personality

No, the reason the US economy if failing is because of liberalism.

LOL@trying to decide which person is responsible for lower unemployment in certain states. Um, hello, let's talk about people who moved OUT OF those states!?!
The Republican governors or Obama?
Yeah, those Republican governors drove some of the workforce out of their states.
:P

Is it Friday again?

Yeppo, plus it's only a couple of days past the full moon. :-)

T.A.

....Saying Bush crashed the economy is like saying Tony Romo is causing the Dallas Cowboys to lose.

And fighting two long term wars on credit plus an ineffective fiscal policy had nothing to do with the deficit ?

IIRC, the "Global financial Crisis" started in 2007.

T.A.

MS -- I found it rather telling that the Economist -- which tends to be pro-business and in the UK supports the Conservative Party more often than either the Lib Dems or Labor has endorsed Obama.

But I realize it is very much a lens thing -- for you, any media to the center of Fox is biased, any candidate to the center of Akin or Ryan is socialist. I get that.

The mainstream media is sooooooooooooooooooooo heavily biased for Obama it makes me wanna puke.

Fox, although you all diss them, gives a hearty 'f you' to all those who would give all to the dems. And a rather hearty dose of realistic journalism to those whores of 'journalism' on freaking CNN.

Obert, sounds like you are arguing with yourself here. Oh, and by the way, which definition of liberalism are you using today?

No, the reason the US economy if failing is because of liberalism.

Truth there -- sort of like watching the two Romney's -- 'I will create 12.5 million new jobs' and 'government doesn't create jobs'.

There are some inclined to not blame Bush for crashing the economy (he did have a lot of bipartisan help) who at the same time are inclined to blame Obama for not turning the economy around faster and stronger (he had a fair amount of partisan obstruction).

And I've noticed there are many on these boards with out the basic understanding of the division of power in the US government.

Saying Bush crashed the economy is like saying Tony Romo is causing the Dallas Cowboys to lose.

No, the reason the US economy if failing is because of liberalism.

And wasn't the US economy tanking before the 2008 elections ? Or a you calling Bush a liberal ?

I have noticed there are many on these boards with memory functions that are incapable of recalling more than three and a half years back.....

T.A.

Has someone put something in the water? All the inmates around here seem to have left behind their wheeled shopping basket.

Patience Chris, only 3 more days to go (maybe 6 if you allow for the post mortems). Then we'll get a few months peace and quiet till the campaigns for the mid term elections start.

Question: Could being in almost constant election mode be the reason the US economy is failing ? Think what the money going into the pork barrels and election ads could accomplish if it was put to wiser use.

T.A.

Has someone put something in the water? All the inmates around here seem to have left behind their wheeled shopping basket.

betreger said:

Demon, are you ingesting hallucinogens?

No, I am not. I would ascribe such a practice to someone who can only formulate one sentence posts.

We Can Cure That. Here, Underground. On The Dark Side Of The Moon. We are Very Good at Fixing Earthlings who have Gone Off The Rails, so to speak.

Would you like to teleport or Worm Up? Worming is Less Dull. Full Of Fun. Quick, but Fun.

The Implant is Painless. And you can be back home posting Prof Like, before you can say: Demon, are you ingesting hallucinogens?

How 'bout it Broheim? Meet Daneel and Giskard's Head. We have some Great Holos, if you'd like to spend a little extra time.

The DEMON...ella

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Demon, are you ingesting hallucinogens?

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The mainstream media is sooooooooooooooooooooo heavily biased for Obama it makes me wanna puke.

Fox, although you all diss them, gives a hearty 'f you' to all those who would give all to the dems. And a rather hearty dose of realistic journalism to those whores of 'journalism' on freaking CNN.

Q could not have said it better.

Q would Pop In to see OBlabby while Pukiful is taking a shower, and The DroneSter acts All Cool and Hollywood, like Peace Prize LiarMan is expecting him, then Q would Zap Basketball Jones to The Future US The Annointed One had created with his Second Term and Legacy and...well, Every man is wearing A Keffiyeh, Every women covered head to toe. A Big Smile breaks from B. Hussein's face, Q grabs The Great One around the shoulders and beams, "You did it. Change". Now, let's make a Video and Show The World.

The DEMON...ella

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"Mainstream Media Bias" is an oxymoron.

If it's mainstream, and you disagree, then it's you with the bias.

You are quite correct, it should be "So Called Mainstream Media Bias!"

In any case there are no journalists left in the USA. They all sold out to the all powerful fiduciary duty to the shareholders. Gotta sell the advertising, anything to whore the ads.

And let's remember what Sarah's major was in college. :)
P.S.-Gary, it's Friday again. :)

"Mainstream Media Bias" is an oxymoron.

If it's mainstream, and you disagree, then it's you with the bias.

You are quite correct, it should be "So Called Mainstream Media Bias!"

In any case there are no journalists left in the USA. They all sold out to the all powerful fiduciary duty to the shareholders. Gotta sell the advertising, anything to whore the ads.

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