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denbot

(9,950 posts)

41. COD's, and other derivatives would not have been allowed under Glass-Steagall

Reply to banned from Kos (Original post)

Fri Apr 20, 2012, 09:23 PM

Apr 2012

CDO's and other derivatives were investment vehicles that formerly traditional banks created, marketed, and eventually were poisoned by. Glass-Steagall was there to separate investment banking speculation from traditional banking practices. Fanny and Freddy were guaranteers of farmed-out loans from commercial banks, many of which were sub-prime mortgages.

Sub-prime mortgages were needed because they presented the high risk tranches, that were required to justify the CDO's and other default swap investment vehicles.

Here is a link to a Lehman Brothers article

http://articles.businessinsider.com/2010-03-17/wall_street/30061008_1_lehman-brother-lehman-report-valuations

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Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown [View all] banned from Kos Apr 2012 OP

Lol, well at least you are predictable. sabrina 1 Apr 2012 #1

Like Sands Through The Hourglass, So Go The Days Of Our Lives! LOL! freshwest Apr 2012 #4

Lol, stop! I'm supposed to be cooking dinner! sabrina 1 Apr 2012 #68

How did Glass-Stagall bankrupt Lehman? banned from Kos Apr 2012 #5

I could tell you have not 'probed that territory' before for some reason. sabrina 1 Apr 2012 #11

How did G-S bankrupt Lehman? You have no answer. banned from Kos Apr 2012 #16

That's YOUR question, but directed at someone who did not make that claim. . sabrina 1 Apr 2012 #21

No. Glass Steagall is retro-skank so I prefer Dodd-Frank banned from Kos Apr 2012 #49

So you admit that deregulation was the cause of the Meltdown. sabrina 1 Apr 2012 #59

No, it's not. Chan790 Apr 2012 #83

Sabrina...don't fall for this...we just lost a poster who got tons of posts in argument..when giving KoKo Apr 2012 #50

Hi KoKo, sabrina 1 Apr 2012 #60

LOL! freshwest Apr 2012 #25

LOL... no kidding fascisthunter Apr 2012 #14

I'm so relieved! So it really was the dumb homeowners after all. Nothing to see here, move along. freshwest Apr 2012 #2

Right, the banks gave loans dumb homeowners could not repay on purpose. banned from Kos Apr 2012 #6

Do you know WHY they did it? sendero Apr 2012 #17

Not at all, if you know how to play the game and insured yourself against the loss: freshwest Apr 2012 #22

Exactly! The OP is suspect. upi402 Apr 2012 #75

Let's check the language here, too: Skank, probe, stupid, etc. RW spew if there every was one. freshwest Apr 2012 #78

Countrywide, now owned by BOA. geckosfeet Apr 2012 #3

But I like BOA, so full of Christmas Cheer: freshwest Apr 2012 #7

Totally wrong Cali_Democrat Apr 2012 #8

Bullshit, Chase, BoA, Morgan , Wells et al are the WINNERS! banned from Kos Apr 2012 #23

They were winners? At taxpayer expense? Cali_Democrat Apr 2012 #39

That is right! They are winners. Losers file chp 11 or are seized. banned from Kos Apr 2012 #51

You might as well delete this post Cali_Democrat Apr 2012 #62

Thanks, but I value the opinion of experts MadHound Apr 2012 #9

Link me to an article any of those claim G-S alone caused the collapse? banned from Kos Apr 2012 #10

You should probably edit your thread title. ( n/t ) Make7 Apr 2012 #12

Retreated from "Nothing to do with the crash" to "Didn't do it alone" Junkdrawer Apr 2012 #13

Lol, it didn't take long either. sabrina 1 Apr 2012 #24

At least the 'probing' didn't result in a 'sex thread.' I was expecting that with no link given. freshwest Apr 2012 #26

Lol, I know, I was worried for a while! sabrina 1 Apr 2012 #29

Uff Dah! freshwest Apr 2012 #35

No one said 'GS ALONE caused the collapse. That was the ultimate goal after years of other sabrina 1 Apr 2012 #19

stop frontin' fascisthunter Apr 2012 #15

It was caused by the top 1 percent's relentless greediness, shimonitanegi Apr 2012 #18

Got a link? Octafish Apr 2012 #20

No link, but plenty of accusations and looking down on hard-working Americans who got screwed. freshwest Apr 2012 #27

Where did he go? sabrina 1 Apr 2012 #31

Just say NO, girl. It's not worth it! freshwest Apr 2012 #34

So true. sabrina 1 Apr 2012 #36

Very wise, grasshopper. I have to leave this thread to stitch my sides up from laughing. freshwest Apr 2012 #42

That was a great piece. Interesting the # of replies xchrom Apr 2012 #28

I heard heavy breathing off to one side of this thread, though. freshwest Apr 2012 #37

Lol, is that what that was? sabrina 1 Apr 2012 #58

Yes, I found out what that was... freshwest Apr 2012 #65

^^^ THIS ^^^^ Junkdrawer Apr 2012 #30

Thank you so much for that, but this thread says: freshwest Apr 2012 #38

Give me a plausible reason Glass-Steagall caused Lehman or WaMu to fail. banned from Kos Apr 2012 #32

Did you read the transcript or watch the video? Junkdrawer Apr 2012 #33

Nope. GoCubsGo Apr 2012 #47

No one respects William Black. Quote me a Krugman or DeLong banned from Kos Apr 2012 #40

?!?! xchrom Apr 2012 #44

Is Tim Geithner a "has-been desperate to peddle his book"???? Junkdrawer Apr 2012 #45

Tell us how Glass Steagall caused Lehman (or others) to fail. banned from Kos Apr 2012 #54

Well, I guess I could petition God, but He's busy at the moment... Junkdrawer Apr 2012 #57

It didn't, its presence would have likely prevented it CreekDog Apr 2012 #72

William K. Black is a well-respected forensic economist who helped jail the S&L crooks. Octafish Apr 2012 #48

COD's, and other derivatives would not have been allowed under Glass-Steagall denbot Apr 2012 #41

+1 nt laundry_queen Apr 2012 #67

NO LINK? Are you trying to cover for LoZoccolo? He/She never gave links for Inflammatory Posts KoKo Apr 2012 #43

Gave? As in, no longer posting? pscot Apr 2012 #53

Fled from here and started another thread offering $1,000 since he can't make his case here. freshwest Apr 2012 #73

I don't think it's LoZ, but he won't answer my links or anyone else's. freshwest Apr 2012 #74

link? or are you just talking to yourself? Arguing with yourself? /nt October Apr 2012 #46

banned from Kos is angry about this, I believe... Octafish Apr 2012 #52

Thank you, Octafish. October Apr 2012 #81

Why would you post on something you know nothing about? jsmirman Apr 2012 #55

A couple years ago, someone on DU linked to this BumRushDaShow Apr 2012 #56

Just the other day, things got worse -- We the Taxpayers got put on the hook for the crooks' frauds. Octafish Apr 2012 #61

Try zen mode it will relax your body and mind...maybe do wonders Drew Richards Apr 2012 #63

I don't think he's still in this thread! sabrina 1 Apr 2012 #64

Hugs Drew Richards Apr 2012 #69

Aw, thank you! sabrina 1 Apr 2012 #80

Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown. The repeal of the act did! Better Believe It Apr 2012 #66

Sure it did. That and an unregulated deriatives market. mmonk Apr 2012 #70

"Government rescues banks" = They loot our tax dollars upi402 Apr 2012 #76

Certainly. mmonk Apr 2012 #77

Incredible jsmirman Apr 2012 #79

you're on DU arguing against Glass Steagall? on DU? CreekDog Apr 2012 #71

But what effect did it have on Dunning-Kruger? ( n/t ) Make7 Apr 2012 #82

Hey, banned from Kos! That's exactly what Phil Gramm said. Octafish Apr 2012 #84

Now that JimRob cleared out the "Moderates".... Junkdrawer Apr 2012 #85

LOL! Octafish Apr 2012 #86

"Maybe I'll stick videos on it. Maybe a few jokes. Recipes too.".... Junkdrawer Apr 2012 #87