Propublica wins a Pulitzer

[Truthmatters]

The Vast majority of the blame lies squarely with the people who ran these lending institutions.

They were supposed to be the professionals and they turned out to be criminals

and explained it to you

 

[Truthmatters]

they believe in a kind of survival of the fittest.

They think making the American economy like a jungle with no rules protecting the "weak" so that the "strong" can will everything is the "moral" way to run a country.


Not everyone can be a financial wiz.

Most people dont understand the details of any contract they sign.

They would like to create an economy were most consummers refuse to use credit for lack of trust in the system.

What they ask for its a complete stagnation of the American economy because only cash is trusted.

Complete idiots they are

and explained it to you

 

[Truthmatters]

You just choose to blame the victims in this.


Have you EVER gone to a lender to see how much money they would lend you to buy a car or house?

 

[Avatar4321]

and this is what the truth in this world is up against.

This is the republican way of debating any subject here.

You supply them with verifiable facts and they cluck like a gaggle of chickens doing nothing more than spouting right wing tlaking points and personal insults.

It will kill their party.

What debate?

You posted a link and called people names.

I never would have imagined that was the way to build a constructive discourse. I have so much to learn from you.

Nope I posted a link that proves what happened was not what you right wing clowns said it was.

I then outlined for you what it meant.

I tossed in a few stupids and idiots because they are well deserved.

You merey ignored all the real subject matter and went for the only part of the conversation you understood.

the names.

Actually, you posted a link showing Propublica won a pulitzer. Then when people started commenting on the pulitzer, you changed the subject.

At no point did you outline anything.

 

[Truthmatters]

why they won a pulizer is the whole reason Pulitzer gives them the award you silly git

 

[Avatar4321]

Note the fools here just to insult me and they ignore the entire subject of the thread?


man the right needs a new braintrust.

Note, that not even TM bothers arguing the subject of the thread. In fact, any time she doesn't like it, she starts complaining about something else.

Please TM. How are people who borrow money and dont pay it back victims?

I thought you claimed to have read the article?

you didnt did you?

You thought wrong. See, Im the one who wanted to talk about the pulitzer and why we should care about them winning an award. you didnt have a good answer so you changed the subject. I don't really care about the article, nor the prize. Im just trying to engage you in actual discussion to make you have a discussion for once. Unfornately, you are quite stubborn.

 

[Avatar4321]

they believe in a kind of survival of the fittest.

They think making the American economy like a jungle with no rules protecting the "weak" so that the "strong" can will everything is the "moral" way to run a country.


Not everyone can be a financial wiz.

Most people dont understand the details of any contract they sign.

They would like to create an economy were most consummers refuse to use credit for lack of trust in the system.

What they ask for its a complete stagnation of the American economy because only cash is trusted.

Complete idiots they are

and explained it to you

You're explaining of what your saying to yourself. You might want to do that inner dialogue.

 

[Truthmatters]

How in your warped brain can you think the thread was NOT supposed to talk about what the article contained?


Because you care nothing for facts and merely fight a brianless factless fight for your wholey corporate owned republican party.

party over everything for you includiung party over country

 

[g5000]

If the problem was just bad loans, we would not be in the mess we are in.

Derivatives are a disaster force multiplier. They are why we are in this mess. To feed the CDO machine, assets were needed so they could be placed in the CDOs. So there was about $70 trillion worth of asset demand.

Demand.

That demand needed to be supplied by the secondary market.

After all the good risks were supplied, the demand had still not been met.

And so the standards were lowered. Riskier assets (loans) were accepted.

And once all those were gone, the demand STILL had not been met.

And so the underwriting laws of the Universe were tossed out the window by the banks and it was a free for all. The competition for supply became ruthless.

And that is how you ended up with TV ads targeted at even the worst credit risks.

Wall Street was screaming for supply.

Gee, says the politicians, look how many home loans are suddenly being made. We should jump on this bandwagon and try to take some of the credit and tells the folks back in the district how we is heppin them get houses.

Politicians didn't know about CDOs and CDO squareds and synthetic CDOs. That stuff was too high falutin to understand for most of them. But they were more than happy to take credit for the sudden rise in easy credit.

Some politicians understood, though. That's why they slipped Section 117 into the CFMA.

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

You have to ask yourself why a certain politician slipped a provision in there which exempted Wall Street from state and local laws which prohibit illegal rigged gambling rip-off joints. How come not Republicans were jumping up and down screaming about states rights? Huh?

Hmmmmm...

Even AIG finally caught on at one point. And they told Wall Street they were no longer going to sell CDS on their CDOs any more.

That was in 2005, and should have ended the game right then and there.

And that is where Magnetar stepped in and kept the casino's roulette ball rolling.

Every CDO, CDO squared, and synthetic CDO sold from that day forward by any broker-dealer on the planet was a willful act of fraud. Every one of them knew this shit was going to blow up, and they worked real hard at keeping the ball rolling so they could steal as much from your pocket as they could before it did.

And when I say "steal from your pocket" I am not talking about giving idiots a loan. I am talking about robbing your 401k blind, and your insurance company, and your city treasury.

But what the fuck do I know, right? If you can't smash it all down so it can fit on a bumper sticker, you don't know nuthin'.

 

[MeBelle]

Truthmatters found a new friend!

 

[Claudette]

I read it and I agree with Con.

Very deserving of the Pulitzer. Second one I believe.

Not everyone on Wall St. is a thief or out to screw everyone. Bad apples inhabit many businesses and always will.

If you read it then why are you spouting the same crap lie that this article is about wall street.

You agree with the article and then turn on a dime and blame the little guy for getting duped by the lenders.

jesus your stupid

No. Your the stupid one TDM.

Do you believe eveything a car salesman tells you?? I sure don't. Before I sign on that dotted line I have my mechanic check out that car. I do everything I can to ensure I'm not buying a pig in a poke or a peice of junk. I also make sure I can afford the payments.

Same with buying a house. Once you sign on the liine your expected to pay back the loan. If you believed eveything the lender was telling you without checking it out then your a fool. Lots of fools around but they are still obligated to pay.