2016 Postmortem

Proserpina

(2,352 posts)

5. The Housing Bubble and Crash was due to CONTROL FRAUD

Sun Jan 3, 2016, 11:49 AM

Jan 2016

The loan originators, the people who wrote the mortgages, lied. They lied repeatedly. They lied to accountants, they lied to judges, they lied to the borrowers, they lied to the agencies that rated the securitized bonds made up of these "liar loans", they lied to every county Registry of Deeds!

Don't try to palm this off on either Congress as a whole, or Bernie Sanders in particular. That would be a LIE!

And although I loathe him with the heat of a thousand suns, I don't think W can even be blamed. This was financial fraud, all the way.

If you want proof, I can provide a reading list. Start with the regular threads in the economy group on this website: Stock Market Watch, and Weekend Economist. Read "Econned" by the blogger Yves Smith, whose actual name escapes me, but you can look it up.

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Highlight:

�Big Short� offers big megaphone for Sanders� message [View all] sonofspy777 Jan 2016 OP

This should be a fascinating movie. Uncle Joe Jan 2016 #1

Saw it. It's really educational! Helen Borg Jan 2016 #9

It is . I highly recommend it. Luminous Animal Jan 2016 #12

Awesome! peacebird Jan 2016 #2

🎇Berne voted for legislation that created the housing bubble🎇 BlueStateLib Jan 2016 #3

The Housing Bubble and Crash was due to CONTROL FRAUD Proserpina Jan 2016 #5

The Fuse For The Debacle Was Lit When Glass Steagal Was Eliminated and the Commodities Futures CorporatistNation Jan 2016 #10

That is not what the book implies ismnotwasm Jan 2016 #14

Perhaps Not Mentioned, However Repeal of GS And The CFMA Had Everything to do With CorporatistNation Jan 2016 #17

This is a Repug lie. Fraud caused the bubble, and people who weakly scolded them to 'cut it out.' reformist2 Jan 2016 #7

Good one! tecelote Jan 2016 #8

How much would it have cost the government to buy every one of the houses and lend them mhatrw Jan 2016 #15

This message was self-deleted by its author AtomicKitten Jan 2016 #16

Lots of pro-Bernie comments underneath nxylas Jan 2016 #4

How can the story of the 2008 crash be told without it being pro-Bernie? Jack Rabbit Jan 2016 #11

"many Americans still harbor" hootinholler Jan 2016 #6

They count on us forgetting..... Punkingal Jan 2016 #13