Don't forget Fannie/Freddie created only 10% of the loans in 2000-2007 and of those, only 3% were sub-prime. Private investment, with no gov't coercion, created and covered the rest. The reason they did this was pressure to expand vs other banks and to also bundle and sell the loans (profits in commissions) as decent investment devices (mortgage backed securities). It was the lack of due diligence on part of the originating banks, the financial companies putting together the securities and the outright betting by the financial companies that devices they were selling to their customers would fail, that contributed to the bubble. Fannie/Freddie had the relaxed rules in place since 1995 but it wasn't until bank deregulation of 2000 that the private banks got involved. Turns out their standards were more lax than the gov't originated loans.
If the central bank prints up 20 trillion dollars and it doesn't help anything, Krugman and his ilk simply shrug and says "Eh, must not have been enough."
No, Krugman says it wasn't spent correctly and yes, the $700B of the stimulus was half what he prescribed. Instead of being injected at the bottom of the economy (working folk and main street businesses), it was piled on to the top, where it was used to keep paying out bonuses to the very people that caused this mess in the first place.
When the financial industry makes up 40% of the economy, purely by shuffling paper and gambling, that's actually acting as a drag on the economy and not helping things. The TBTF banks should have been broken up *and* liquidity should have been aimed at jobs creation. Instead, you have a gov't that's heavily influenced (run?) by bankers and financiers who can't see any further than the edges of Manhattan. No idea how we're going to get out of this one, unless they go and dig a moat around New Yawk and stop listening to all the yammerheads over there.
For excellent note taking, use a cedar wand with a core of graphite and kaolinite, formed into an acute cone shape on one end, and pressed sheets of bleached, then dried fibers, formed into a folio.
Just bought daughter iPhone and Xbox. We're replacing a Wii that died. Daughter (11) is ready to move on from basic Wii games but still likes iOS games.
Yup, Tor and Baen books will give you one free book by an author but then you have to buy or scam a download to read the rest. Man, first world life SUCKS!
Um... excuse me. 'Socialism' has the word 'Social' in it and that implies people working together and with other people. It's now the 21st C. and such things as 'civilization' are now passe and strictly for the lower classes. If you are going to get anywhere you need to become a loan wolf who's ready to do whatever is necessary to get ahead in life. And remember, if there's anyone who's doing better than your or is still happy, you haven't won and in fact are just a looser like everyone else. The most perfect example of new world success is the Frazetta picture of Conan the Barbarian standing on top of a pile of dead enemies, with a hot chick grabbing his leg so a little of his bodaciousness will rub of on her.
Anyone who believes otherwise is obviously one of those weaklings who think civilization and society are good things and that life is more than a zero sum game with a trajectory right to the bottom./Thurston Howell III voice
Slashdot Mirror
'zines man. Millions and millions of 'zines!
You damn well know the technology is meant to facilitate military activities primarily.
I did not know that.
We should all go back to before we picked up and threw rocks.
*golf clap*
Wonder if there is reflective paint to block out scanners as well?
Just don't get one in the shape of something suspicious.
Don't forget Fannie/Freddie created only 10% of the loans in 2000-2007 and of those, only 3% were sub-prime. Private investment, with no gov't coercion, created and covered the rest. The reason they did this was pressure to expand vs other banks and to also bundle and sell the loans (profits in commissions) as decent investment devices (mortgage backed securities). It was the lack of due diligence on part of the originating banks, the financial companies putting together the securities and the outright betting by the financial companies that devices they were selling to their customers would fail, that contributed to the bubble. Fannie/Freddie had the relaxed rules in place since 1995 but it wasn't until bank deregulation of 2000 that the private banks got involved. Turns out their standards were more lax than the gov't originated loans.
"were exceptional" ?
If the central bank prints up 20 trillion dollars and it doesn't help anything, Krugman and his ilk simply shrug and says "Eh, must not have been enough."
No, Krugman says it wasn't spent correctly and yes, the $700B of the stimulus was half what he prescribed. Instead of being injected at the bottom of the economy (working folk and main street businesses), it was piled on to the top, where it was used to keep paying out bonuses to the very people that caused this mess in the first place.
When the financial industry makes up 40% of the economy, purely by shuffling paper and gambling, that's actually acting as a drag on the economy and not helping things. The TBTF banks should have been broken up *and* liquidity should have been aimed at jobs creation. Instead, you have a gov't that's heavily influenced (run?) by bankers and financiers who can't see any further than the edges of Manhattan. No idea how we're going to get out of this one, unless they go and dig a moat around New Yawk and stop listening to all the yammerheads over there.
For excellent note taking, use a cedar wand with a core of graphite and kaolinite, formed into an acute cone shape on one end, and pressed sheets of bleached, then dried fibers, formed into a folio.
*golf clap*
Just bought daughter iPhone and Xbox. We're replacing a Wii that died. Daughter (11) is ready to move on from basic Wii games but still likes iOS games.
I wonder if Bilbo Baggins Pub in Alexandria, VA is still there? Ued to frequent it in the late 70's.
Most major breweries in the U.S. (even Guinness - *SOB*) are owned and operated from overseas. Brew your own!
Exactly! They should be using Windows tablets!
windows phone is... about to be abandoned
Really?
Yup, Tor and Baen books will give you one free book by an author but then you have to buy or scam a download to read the rest. Man, first world life SUCKS!
Everyone's too polite in Canada to make news.
Banksters = graffiti artists?
I was hoping they'd buy Comcast and implement a la carte channel pricing.
I've received more replies for my typing mistake than I have for any posts i've made in the last 10 years. I need to start making more miss steaks!
Apparently there's an opening at Goldman Sachs.
Unless there's lazers involved.
Especially when I was trying to be subtle and nuanced. Sorta like finely aged naugahyde braised in a mild Australian Claret.
*golf clap*
Um... excuse me. 'Socialism' has the word 'Social' in it and that implies people working together and with other people. It's now the 21st C. and such things as 'civilization' are now passe and strictly for the lower classes. If you are going to get anywhere you need to become a loan wolf who's ready to do whatever is necessary to get ahead in life. And remember, if there's anyone who's doing better than your or is still happy, you haven't won and in fact are just a looser like everyone else. The most perfect example of new world success is the Frazetta picture of Conan the Barbarian standing on top of a pile of dead enemies, with a hot chick grabbing his leg so a little of his bodaciousness will rub of on her.
Anyone who believes otherwise is obviously one of those weaklings who think civilization and society are good things and that life is more than a zero sum game with a trajectory right to the bottom. /Thurston Howell III voice
Meh. Like anyone who's not on slashdot knows anything about... um... anything.