Re: I hereby resign from the Republicrat party....
 

Never said what caused it, I only offer a half truth by pointing out WHEN it happen.

And anyone who claims they "know" what the actual reason is sure to be completely full of ----. The greatest thing about a problem like the one that happen in our nation and others with the housing market is that no one can possibly be blamed...so the people that did cause it in part or otherwise are the ones that made money and then got out when it was time to crumble.

Our government SHOULD conduct a proper investigation in what actually happened and who is actually to blame. Somehow if that happened I would guess they would either be investigating themselves or somehow find a way to blame it on Osama and go into Iran to find him.

Re: I hereby resign from the Republicrat party....
 

Chris,



Yes the banking sector and heads of government allowed this to happen but so did the American consumer. Unlike wars this was a choice of the American people has well. Anyone who bought on a prime loan knew what was going to happen after 2-3 years. I live in the number one area in the country in foreclosures/home value loss the Sacramento Valley. Homes were well into the 400k+range for a typical 3 bdrm home. The average income is well below that of someone being able to afford a 400k home.



If a consumer beliefs they will double their income by the time doomsday of the loan comes(Actually paying for the home) they deserve everything their getting in return which really they didnt loss anything. Whats the difference between someone with a prime loan and renting? Neither has ever invested a dime into the property to attain ownership. Its like crying about turning in your leased vehicle.



All sides are guilty of the problem. Not owning up to the responsibility is something that government and banking wont do but the public who used these loans can atleast admit the made foolish mistakes and they too are to blame. Yet, the masses of them want government to save them from something they have never paid into.

Re: I hereby resign from the Republicrat party....
 

That's like saying you can't find why a car engine failed because it's a whole engine and it's too much to understand ::)

Re: I hereby resign from the Republicrat party....
 

You're retarded. A more fair comparison would be if you had an engine within and engine sharing an engine within an engine tied to another engine all run by one big engine.

Sub prime hilarity: http://docs.google.com/TeamPresent?d...&skipauth=true

Re: I hereby resign from the Republicrat party....
 

It's not that complicated. That, or you're too simple to understand it.

Repealing Glass Steagall aloud for the creation of SIV's.

look here.

once you understand what a SIV is, we'll move on to our next lesson.

Re: I hereby resign from the Republicrat party....
 

What's wrong with saying that?

Re: I hereby resign from the Republicrat party....
 

I agree that people need to responsible for their own finances, I bought a house recently, got approved for MUCH more than I should have and could have afforded, so I purchased what I knew I could afford. Banks were GIVING away money. We kept asking, how did we get approved for this much? They kept saying, dont worry about it...

However dangling that much dough in front of the average consumer is like fishing for Alcoholics with a keg of Budweiser. The people who did the dangling are fully responsible in my eyes and should be held accountable, but alas we know they won't.

Re: I hereby resign from the Republicrat party....
 

After reading that, I dont understand how SIV's caused the mortgage crisis...but this stands out when reading.

What that says to me is that even though everyone else lost out, the gov't and financial institutions have to bail someone out (im not sure who) and the people that invested lost nothing even though everything went to ----!

Re: I hereby resign from the Republicrat party....
 

You're basically borrowing short term at a low interest rate to lend it to someone else long term at a higher interest rate. Think of long term loans, they're usually bonds and mortgages. So you're filling up the market with all of these long term bonds and mortgages that are financed off of an assumption of a source that's going to continue to let you borrow short at a lower interest rate than what you're offering on your long term loans. On top of this it wasn't really mandatory to include it in any of your institutions official accounting as to what you were doing with the fund. So investors who were throwing money out for these short term loans really don't have any clue as to what's going on with their investment. You should be able to see how that's going to cause some instability in the market and sets up a situation for the short term investors to panic and call all of their loans in. In which case the manager of the SIV, who's lended long term, high interest, is going to have to pull their interest rates up in order to pay back the short term investor. Other short term investors see the panic in the market and decide it's in their interest to stay out of the SIV market for now so all of the cash flow dries up for the manager of the SIV fund. Which is then going to be transfered to the people at the end of the line who took the long term, high interest loans who are going to see their interest rates go through the roof as the banks scramble to pay back the short term lenders.


This is written really poorly and I'll give you a straighter shot in the morning. Especially if you find anything wrong with my logic behind it. I'm too tired right now to write coherently.

Re: I hereby resign from the Republicrat party....
 

cliff notes ----
some people don't have the time to read all the bullshit novelest ---- buk. sometimes ya need to summerize