General Discussion

Octafish

(55,745 posts)

64. The crooks get away with looting the economy and the Treasury.

Wed Apr 25, 2012, 01:02 PM

Apr 2012

But, no. It wasn't because of any change in the law that had worked to prevent such criminality since the last time the warmongering sociopathic greedhead Plutocrats were in charge that prevented the crooks stealing everything that wasn't nailed down. It's because the poor people brought down the banks by failing to pay off the inflated mortgages on their new home.

Apart from Teddy Bullmoose Roosevelt and a handful of Democratic administrations, how few the Just years have been over the last century. Thank you, Ichingcarpenter, for standing up to Them.

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I will donate $1000 to the DNC now if someone explains how G-S caused Lehman to fail. [View all] banned from Kos Apr 2012 OP

Bless your heart.. Fumesucker Apr 2012 #1

One down. Once again - how did the repeal of G-S cause Lehman to fail? banned from Kos Apr 2012 #3

I don't know and I don't care.. Fumesucker Apr 2012 #7

The repeal of GS led to too big to fail banks being in jeopardy of failing karynnj Apr 2012 #66

It seems very unlikely that you have $1000. ( n/t ) Make7 Apr 2012 #2

A couple of points: ProSense Apr 2012 #4

Which has exactly NOTHING to do with Lehman's failure. banned from Kos Apr 2012 #6

Really? ProSense Apr 2012 #8

No, your premise is wrong. The economy was never "shielded from I-bank risks" banned from Kos Apr 2012 #11

Again ProSense Apr 2012 #15

What? jsmirman Apr 2012 #36

Lehman was destroyed by the collapse of the subprime mortgage market jsmirman Apr 2012 #5

Garbage - Countrywide, IndyMac, WaMu and 100s others sourced loans banned from Kos Apr 2012 #10

Welcher jsmirman Apr 2012 #16

Are you Charles Keating? Octafish Apr 2012 #9

Question?.....Credit rating agencies.... lostnote12 Apr 2012 #25

Guard-Dogs for the Banks: The Case Against Rating Agencies Octafish Apr 2012 #33

very nice article...thanks...n/p lostnote12 Apr 2012 #39

His check is in the mail along with Ichingcarpenter Apr 2012 #63

The crooks get away with looting the economy and the Treasury. Octafish Apr 2012 #64

If I answer... can you send it to Elizabeth Warren's campaign instead? nt MannyGoldstein Apr 2012 #12

I'll try, but I don't have patience for long posts. Lucky Luciano Apr 2012 #13

Agreed MannyGoldstein Apr 2012 #14

Also very true jsmirman Apr 2012 #17

That is absolute garbage! LEH and BSC failed because of FORECLOSURES & BAD LOANS! banned from Kos Apr 2012 #18

And were they unable to pay their mortgages MannyGoldstein Apr 2012 #19

What the hell are you talking about? jsmirman Apr 2012 #20

Their balance sheet was corrupted because of debtors who did not make payments! banned from Kos Apr 2012 #22

Were there more subprime loans MannyGoldstein Apr 2012 #23

Absolutely! And mortgage originators steered naive people into subprime banned from Kos Apr 2012 #29

Were loans like that widely available prior to the early 2000s? nt MannyGoldstein Apr 2012 #31

What the hell is your point? jsmirman Apr 2012 #26

People do often say "levering up" etc. I say it all the time Lucky Luciano Apr 2012 #37

Must be a new-fangled thing jsmirman Apr 2012 #45

Too bad Bush took the FBI off the case when they let him know in 2005 that there was a huge problem sabrina 1 Apr 2012 #27

And their balance sheet was corrupted because they lied jsmirman Apr 2012 #30

My POINT is that Glass-Steagall had nothing to do with the mortgage crisis banned from Kos Apr 2012 #47

You are crazy pants jsmirman Apr 2012 #52

Ok, slowly for you. Glass-Steagall did not regulate mortgages nor did it have anything to banned from Kos Apr 2012 #56

You really are trolling jsmirman Apr 2012 #59

There has always been foreclosures and bad loans. mmonk Apr 2012 #21

Sure. But 2007-2009 saw a record rate of defaults. banned from Kos Apr 2012 #24

Dude...I am more involved in the game than you think. Lucky Luciano Apr 2012 #28

We are speaking the same language here jsmirman Apr 2012 #32

You're talking securitization. I am addressing the ROOT cause - origination and valuation banned from Kos Apr 2012 #34

This is madness jsmirman Apr 2012 #38

Securitization did not cause defaults and foreclosures! banned from Kos Apr 2012 #43

This is just completely wrong jsmirman Apr 2012 #46

I don't think our friend's trade will settle properly. Lucky Luciano Apr 2012 #48

But no one here is talking Glass-Steagall because my wager required that banned from Kos Apr 2012 #51

How dishonest. You mistitled the article which is really titled banned from Kos Apr 2012 #50

Wha? I gave it a descriptive title to tell you jsmirman Apr 2012 #55

WaMu failed because there were two large runs on the bank.. girl gone mad Apr 2012 #49

Correct on the holding the bag part jsmirman Apr 2012 #57

If home values just kept going up, the bubble would have gotten bigger. Lucky Luciano Apr 2012 #40

Sure, securitization pulled in bad origination practices. banned from Kos Apr 2012 #44

You have your cause and effect reversed. girl gone mad Apr 2012 #53

Its chicken and/or egg. They both fed the mill. But once again Glass-Steagall did NOTHING banned from Kos Apr 2012 #58

Then you're in agreement with Phil Gramm.. girl gone mad Apr 2012 #60

It's not a chicken and/or egg issue, btw. girl gone mad Apr 2012 #62

Investment houses created the market. mmonk Apr 2012 #41

"If home values had kept going up" is an insane statement. JackRiddler Apr 2012 #54

G-S squishy magic juice splashed on them upi402 Apr 2012 #35

I don't have a clue, but I'm curious as ... lostnote12 Apr 2012 #42

I was going to hazard that Goldman Sachs shorted Lehman Fresh_Start Apr 2012 #61

Some reading for you. LiberalAndProud Apr 2012 #65