The Meltdown, explained

[Mac1958]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

 

[Mikeoxenormous]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

 

[Mac1958]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

 

[Mac1958]

It's VERY safe to assume that those who don't WANT to know the real story won't bother with those videos.

Willful ignorance is dangerous stuff.

 

[AzogtheDefiler]

The Big Short was great and not liberal at all

 

[Mikeoxenormous]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

Bwaaaahhhaaaaaa..talk radio? This is their own words, you worthless fuck. You are such a chicken shit liberal, too ashamed to call yourself liberal, and will never pull your head out of your smelly ass, to realize that you were fucked by the very liberals you so adore.

 

[Mac1958]

The Big Short was great and not liberal at all

Yeah. It has to be tough to keep a movie with subject matter like that entertaining, but they did a great job.
.

 

[AzogtheDefiler]

The Big Short was great and not liberal at all

Yeah. It has to be tough to keep a movie with subject matter like that entertaining, but they did a great job.
.

They dummed down finance for non finance people and did a great job at doing so. If you’re in finance and understand the complexities of it the movie is even better.

 

[Mikeoxenormous]

The Big Short was great and not liberal at all

Yeah. It has to be tough to keep a movie with subject matter like that entertaining, but they did a great job.
.

They dummed down finance for non finance people and did a great job at doing so. If you’re in finance and understand the complexities of it the movie is even better.

The Big Short failed when it promoted "This is a real story" bullshit. Nothing out of Hollywood is a real story, because Hollywood always has to spoof it up to make their government look innocent while saying corporations are evil. But of course when I point out that government was Evil for not stopping the "subprime" mortgages to people who couldn't afford them, no, instead the government said you have to keep going, otherwise you are racists against minorities that cant afford them. And Fannie and Feddie just kept backing those bogus mortgages thus the meltdown. I saw it coming, didnt buy a new house because I saw the warning signs, waiting 5 years after it, so I got a million dollar house for $500,000, you either have the smarts to become wealthy or stupid and just bitch and moan because you didnt get yours.

 

[Mac1958]

The Big Short was great and not liberal at all

Yeah. It has to be tough to keep a movie with subject matter like that entertaining, but they did a great job.
.

They dummed down finance for non finance people and did a great job at doing so. If you’re in finance and understand the complexities of it the movie is even better.

The Big Short failed when it promoted "This is a real story" bullshit. Nothing out of Hollywood is a real story, because Hollywood always has to spoof it up to make their government look innocent while saying corporations are evil. But of course when I point out that government was Evil for not stopping the "subprime" mortgages to people who couldn't afford them, no, instead the government said you have to keep going, otherwise you are racists against minorities that cant afford them. And Fannie and Feddie just kept backing those bogus mortgages thus the meltdown. I saw it coming, didnt buy a new house because I saw the warning signs, waiting 5 years after it, so I got a million dollar house for $500,000, you either have the smarts to become wealthy or stupid and just bitch and moan because you didnt get yours.

What you obviously don't know is that the mortgages were only the tip of the iceberg.

If you bothered to watch the material I have provided, you'd know much more.

But I know you will not, or you'll consider it fake news because you won't like and/or understand it.
.

 

[georgephillip]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

Taibbi's revelation he knew nothing about finance before beginning his Rolling Stone assignment was eye-opening, for me. As was the advice he received that helped him begin his awakening: think of the Great Recession as a crime tale and not a financial fable.

Wall Street Rigs the Game for a 25-Year Crime Spree

 

[Mac1958]

Taibbi's revelation he knew nothing about finance before beginning his Rolling Stone assignment was eye-opening, for me. As was the advice he received that helped him begin his awakening: think of the Great Recession as a crime tale and not a financial fable.

Yeah, I had the same reaction.

One of the many things the "government is the problem" psuedo-libertarians have to ignore is human nature. When you just sit back and allow our incredibly complex financial system to be manipulated like that, it's going to be manipulated like that.

They don't/won't understand that efficient regulation is not a bane to capitalism; it's a critical component of capitalism.

Greenspan turned a blind eye, and so did everyone else. The result couldn't have been a surprise.
.

 

[bigrebnc1775]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

And so the real meltdown begins right on que.lol

 

[Mac1958]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

And so the real meltdown begins right on que.lol

.

 

[bigrebnc1775]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

And so the real meltdown begins right on que.lol

.

The first post of opposition makes you melt slowly
MUST THINK LIKE MAC 1958

 

[Mac1958]

Starting a thread here for future reference.

I've noticed, painfully, that there are many who don't really have a good idea of the mechanics of the Meltdown. Granted, it's fairly complicated and takes some time and effort to wade through and digest. I'm in the freakin' industry, and it took me some time to make some sense of it all.

But if you're actually interested in the bits & pieces, I've assembled a few tidbits here. None of them are long, and by the time you get through them, you'll have a much better idea of what happened and what we have to guard against going forward. Here we go:

Videos
This leaves out a lot of important detail, but it's a good start to understand the basics.
(11:10)

I loved the movie "The Big Short", but it's very dense with the information and I'm pretty sure it lost a lot of viewers along the way. But THIS is an EXCELLENT and quick description of the Meltdown, maybe the best SHORT (9:29) description I've seen.


Yes, writer Matt Taibbi is a lefty, but this appearance on the Joe Rogan (definitely NOT a lefty) show is an excellent overview and conversation at a very basic and understandable level.


Movies
The Big Short (Much more understandable if you watch those videos first)
Meltdown - The Men Who Crashed the World (Available on YouTube)
Global Financial Meltdown - (Available on YouTube)
Too Big to Fail (Flawed, but covers the government's reaction to the crash pretty well)
Inside Job (Excellent, if dry, roadmap of the mess)

There ya go. Get through this stuff and you'll have a great understanding of what happened.
...

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

And so the real meltdown begins right on que.lol

.

The first post of opposition makes you melt slowly

I'm afraid I don't know what you're trying to say.

Maybe just make a clear, intelligent point, like an adult.
.

 

[bigrebnc1775]

So you are saying that we should watch the liberal propaganda and not use our own brains to understand why the 2007 Fannie Mae, Freddie Mac debacle happened?

Here is some information that never gets talked about. The 2004 committee warned that there was a problem, but the 3 asshole liberals who kept the bullshit going right up to 2007. You can thank Chris Dodd, Barney Frank, and ugly Maxine Waters....

I'm well aware of the talk radio version, thanks.
.

And so the real meltdown begins right on que.lol

.

The first post of opposition makes you melt slowly

I'm afraid I don't know what you're trying to say.

Maybe just make a clear, intelligent point, like an adult.
.

You must truly be a moron if you don't understand what I said

 

[Mac1958]

You must truly be a moron if you don't understand what I said

Yes, I do admit that "And so the real meltdown begins right on que.lol" is a truly profound expression of intellect, critical thinking and a powerful and articulate mind, but perhaps you could expand on that just a bit so that the rest of us might endeavor to fully experience your prodigious and imposing intelligence.

Thanks in advance.
.

 

[georgephillip]

Taibbi's revelation he knew nothing about finance before beginning his Rolling Stone assignment was eye-opening, for me. As was the advice he received that helped him begin his awakening: think of the Great Recession as a crime tale and not a financial fable.

Yeah, I had the same reaction.

One of the many things the "government is the problem" psuedo-libertarians have to ignore is human nature. When you just sit back and allow our incredibly complex financial system to be manipulated like that, it's going to be manipulated like that.

They don't/won't understand that efficient regulation is not a bane to capitalism; it's a critical component of capitalism.

Greenspan turned a blind eye, and so did everyone else. The result couldn't have been a surprise.
.

One of the many things the "government is the problem" psuedo-libertarians have to ignore is human nature. When you just sit back and allow our incredibly complex financial system to be manipulated like that, it's going to be manipulated like that.

They don't/won't understand that efficient regulation is not a bane to capitalism; it's a critical component of capitalism.

There's a good example of that reality in the news right now, namely the WeWork IPO that AOC spotlighted last week:

Alexandria Ocasio-Cortez on WeWork IPO: “You’re Getting Fleeced”

"As the WeWork IPO train wreck plays out in the media, showing how two of the most sophisticated banks on Wall Street, JPMorgan Chase and Goldman Sachs, were set to bring this 9-year old office rental company to the public markets via an IPO, despite outrageous conflicts of interest by WeWork’s founder and CEO and a proposed valuation that turns out to have been off the mark by tens of billions of dollars, it was certain that someone was going to bring up WeWork at this hearing.

"That person was Congresswoman Alexandria Ocasio-Cortez of New York.

"Ocasio-Cortez asked Duke University Law Professor Elisabeth de Fontenay, one of the witnesses who testified yesterday, about the kinds of protections retail investors would have if private equity markets were broadened to include retail investors.

"Professor de Fontenay explained that the small investor would rarely have access to audited financial statements, no ability to accurately assess the valuation of the company, and no information on any criminal investigations taking place – all of which is available for a publicly listed company."

 

[Mac1958]

Taibbi's revelation he knew nothing about finance before beginning his Rolling Stone assignment was eye-opening, for me. As was the advice he received that helped him begin his awakening: think of the Great Recession as a crime tale and not a financial fable.

Yeah, I had the same reaction.

One of the many things the "government is the problem" psuedo-libertarians have to ignore is human nature. When you just sit back and allow our incredibly complex financial system to be manipulated like that, it's going to be manipulated like that.

They don't/won't understand that efficient regulation is not a bane to capitalism; it's a critical component of capitalism.

Greenspan turned a blind eye, and so did everyone else. The result couldn't have been a surprise.
.

One of the many things the "government is the problem" psuedo-libertarians have to ignore is human nature. When you just sit back and allow our incredibly complex financial system to be manipulated like that, it's going to be manipulated like that.

They don't/won't understand that efficient regulation is not a bane to capitalism; it's a critical component of capitalism.

There's a good example of that reality in the news right now, namely the WeWork IPO that AOC spotlighted last week:

Alexandria Ocasio-Cortez on WeWork IPO: “You’re Getting Fleeced”

"As the WeWork IPO train wreck plays out in the media, showing how two of the most sophisticated banks on Wall Street, JPMorgan Chase and Goldman Sachs, were set to bring this 9-year old office rental company to the public markets via an IPO, despite outrageous conflicts of interest by WeWork’s founder and CEO and a proposed valuation that turns out to have been off the mark by tens of billions of dollars, it was certain that someone was going to bring up WeWork at this hearing.

"That person was Congresswoman Alexandria Ocasio-Cortez of New York.

"Ocasio-Cortez asked Duke University Law Professor Elisabeth de Fontenay, one of the witnesses who testified yesterday, about the kinds of protections retail investors would have if private equity markets were broadened to include retail investors.

"Professor de Fontenay explained that the small investor would rarely have access to audited financial statements, no ability to accurately assess the valuation of the company, and no information on any criminal investigations taking place – all of which is available for a publicly listed company."

Yeah, there's no reason to invest in an opaque security nowadays.

There's also no reason to trust those who are pushing them, either.
.