"It wasn't a Mortgage Recession after all"?...

Discussion in 'Economy' started by mal, Mar 2, 2010.

  1. mal
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    mal Diamond Member

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  2. mayya555
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    mayya555 Member

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    Looks like a bunch of lies at the first glance, but it actually might not be that way...
     
  3. GageLeadgene
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    GageLeadgene Rookie

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    i just wonder why we do not learn from their mistakes. Clinton forced banks into sub-prime lending...which lead directly to the collapse....now the new guy is trying to prop up the same folks. All that can happen is a temporary boost in a surge of buys, followed by foreclosures because they could not afford the homes they were enabled to buy. it is the same story with different characters
     
  4. editec
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    editec Mr. Forgot-it-All

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    Good for you, Macontent.

    I've been saying all along that the subprime mortgage problem was merely the snowball that started the avalanche.

    Note that bankers almost had no choice but to get into RISKIER investing?

    Once we deregulated banks such that they COULD invest in these high risk investments, they really had almost NO CHOICE.

    If their CEOs hadn't taken those BETS, their return on investments wouldn't have been as high as banks that were taking those bets.

    So, because the market looks down the road only about 6 months, they weren't allowed to play it safe.

    REGULATIONS could have prevented this collapse.

    But we removed those regulations during the CLINTON administration (and some part of those regulations even before he took office).

    Every lesson we learned in the 1930s?

    We elected to forget.
     
  5. Granny
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    Granny Gold Member

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    But beware of these ads offering mortgage fixes. My daughter got a call from the Washington state attorney general yesterday regarding a mortgage scam that had been operating for awhile. Fortunately, my daughter fought hard to get their money back from this outfit but a lot of people weren't that lucky.
     

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