Wikipedia has excellent articles on subprime and the housing bubble and their cause effect.
I still blame the banks and morgage brokers. Including the Sandlers who SNL made fun of.
-Leverage can be evil. The investment banks were highly leveraged. Caused the stock exchange to crash in 1929.http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929
Unbelievable. Fannie and Freddie are NOT private companies and they STARTED THIS MESS. And We didn't bail out Lehman. If banks want to stupid shit then they should be allowed to. We have let banks go out of business before.
Fannie & Freddie pushed us over the cliff and started the chain reaction. To say that the private sector caused this is pure propaganda.
Clinton administration laws put guns to bankers heads to force them to give bad loans to unqualified applicants.
Cause of the crisis The reasons for this crisis are varied and complex.[21] The crisis can be attributed to a number of factors pervasive in both the housing and credit markets, which developed over an extended period of time. Some of these include: requirement of commercial and mortgage banks to lend to high-risk borrowers [22][23], the inability of homeowners to make their mortgage payments, poor judgment by the borrower and/or the lender, speculation and overbuilding during the boom period, risky mortgage , high personal and corporate debt levels, financial innovation that distributed and perhaps concealed default risks, central bank policies, and regulation (or lack thereof).[24] The Subprime Mortgage Crisis occurred when lending standards were relaxed as part of a Congressional effort to make home ownership more attainable to lower income families. A dramatic increase in the availability of mortages (especially unconventional mortages with adjustable interests rates, balloon payments, or artifically lowered payments) and the extension of credit to borrowers with inadequate ability to repay their debts resulted in a feeding frenzy: brokers pushed loans on borrowers that did not meet prudent lending standards, borrowers were enticed to take equity out of their homes for improvements or other expenditures, borrowers gambled that their property values would rapidly increase allowing them to build equity and refinance the loans to avoid increased payments, lending institutions created new types of loans that required less documentation to qualify lenders (some were termed "liar's loans"), secondary markets packaged large groups of loans into "mortgage backed securities" that were then sold to investors around the globe. Each of these added to the increasing demand for more mortgages and fueled an unstainable rise in property values: the "housing bubble". As early as 2003, former Chairman of the Federal Reserve Alan Greenspan called for greater regulation of the lending and security industry and warned of an impending financial disaster. Unfortunately, there were too many people benefitting from the seemingly unending flow of credit.
LOL. I'm stupid! haha. You could be one of the biggest liars on the planet. Why would an idiot like you make excuses? Hmmm. Let me guess. You're god damn dummycrat.
2. LOL. "Personal responsibility"? This is a real laugher. Do you think those dumb dipshit deadbeat poor black borrowers give a shit about defaulting? Yeah you're a dumbass alright.
To a point that they now have collapsed all our banks with stupid demands for easy loans with the black nominee for president implicated in the scandal.
Slashdot Mirror
Wikipedia has excellent articles on subprime and the housing bubble and their cause effect.
I still blame the banks and morgage brokers. Including the Sandlers who SNL made fun of.
-Leverage can be evil. The investment banks were highly leveraged. Caused the stock exchange to crash in 1929.http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929
Everything goes underground then.
Don't like freedom?
Take a boat to cuba.
All the rich have been taken care of there.
Buy me some cigars you commy socialist dummycrat.
LOL. 'Anonymous coward cocksucker'
Please continue to force Fannie & Freddie an sue our banks into giving bad loans.
They spend A LOT OF MONEY on Caner and heart disease.
Nothing wrong with a FEW companies making money and jobs fixing something that ANNOYS women and men.
The laws were changed to force all banks to make risky loans to unworthy high risk borrowers.
Google Obama and Acorn. They sued banks in chicago to force them to loan.
Unbelievable. Fannie and Freddie are NOT private companies and they STARTED THIS MESS. And We didn't bail out Lehman. If banks want to stupid shit then they should be allowed to. We have let banks go out of business before.
Fannie & Freddie pushed us over the cliff and started the chain reaction. To say that the private sector caused this is pure propaganda.
Clinton administration laws put guns to bankers heads to force them to give bad loans to unqualified applicants.
http://en.wikipedia.org/wiki/Subprime_mortgage_crisis
Cause of the crisis
The reasons for this crisis are varied and complex.[21] The crisis can be attributed to a number of factors pervasive in both the housing and credit markets, which developed over an extended period of time. Some of these include: requirement of commercial and mortgage banks to lend to high-risk borrowers [22][23], the inability of homeowners to make their mortgage payments, poor judgment by the borrower and/or the lender, speculation and overbuilding during the boom period, risky mortgage , high personal and corporate debt levels, financial innovation that distributed and perhaps concealed default risks, central bank policies, and regulation (or lack thereof).[24]
The Subprime Mortgage Crisis occurred when lending standards were relaxed as part of a Congressional effort to make home ownership more attainable to lower income families. A dramatic increase in the availability of mortages (especially unconventional mortages with adjustable interests rates, balloon payments, or artifically lowered payments) and the extension of credit to borrowers with inadequate ability to repay their debts resulted in a feeding frenzy: brokers pushed loans on borrowers that did not meet prudent lending standards, borrowers were enticed to take equity out of their homes for improvements or other expenditures, borrowers gambled that their property values would rapidly increase allowing them to build equity and refinance the loans to avoid increased payments, lending institutions created new types of loans that required less documentation to qualify lenders (some were termed "liar's loans"), secondary markets packaged large groups of loans into "mortgage backed securities" that were then sold to investors around the globe. Each of these added to the increasing demand for more mortgages and fueled an unstainable rise in property values: the "housing bubble".
As early as 2003, former Chairman of the Federal Reserve Alan Greenspan called for greater regulation of the lending and security industry and warned of an impending financial disaster. Unfortunately, there were too many people benefitting from the seemingly unending flow of credit.
LOL. I'm stupid! haha. You could be one of the biggest liars on the planet. Why would an idiot like you make excuses? Hmmm. Let me guess. You're god damn dummycrat.
1. First point.
"Fannie and Freddie don't make loans." http://en.wikipedia.org/wiki/Fannie_Mae. Don't make loans huh? LOL. Ok professor.
2. LOL. "Personal responsibility"? This is a real laugher. Do you think those dumb dipshit deadbeat poor black borrowers give a shit about defaulting? Yeah you're a dumbass alright.
3. How much of Barnie Franks can you deepthroat? http://www.thebulletin.us/site/index.cfm?newsid=20146707&BRD=2737&PAG=461&dept_id=576361&rfi=8
I see an objective person has mod rights.
And he's working for Obama. Sickening.
He's the guy that cooked the books and made $100 million off fanniemae options.
Where is the media. Nowhere.
You are so blind and stupid.
http://digg.com/2008_us_elections/VIDEO_Dems_fighting_like_hell_against_Fannie_Mae_regulation
Google Franklin Raines. The crook is running the Obumma campaign.
It wasn't wallstreet. You can't survive all those stupid crazy loans by Fanniemae & Freddiemac.
http://digg.com/2008_us_elections/VIDEO_Dems_fighting_like_hell_against_Fannie_Mae_regulation
What's the point. Same price as other phones. Same rates.
You might want to check into the fanniemae problem before you open your mouth again.
I am greater than that.
Admit it.
To a point that they now have collapsed all our banks with stupid demands for easy loans with the black nominee for president implicated in the scandal.
Sue them.
Over. Done. Fini
Sad if he survived and an animal took him.
His Wikipedia mentions he was have financial problems and could have staged a suicide.
We know how to get into your bank. Payup or we will sell to the criminals.
They overprice their internet service too.
Love seeing you people get screwed.
Then are we also looking at near the time of the big bang?
He's not getting rich off of that.
Obama. That sucking noise is all our money for his programs and the defaults from Democratic helmed Fannie Mae crisis.