CDZ Video on the 2008 Mrtgage Market Collapse and How it was Fixed

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JimBowie1958

JimBowie1958

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Finance not my domain, but do remember both Obama & Mc Cain running to Washington too see what was going on neither one was president at that time. many went down, many lost a lot. what ever was done had too be done in haste. what a horrible position for a newly elected president too be in.
The political fallout of the word "bailout" really clouded what was happening. We came damn close to seeing the whole thing come down. Maybe it's better that it went that way - if more people knew what was actually happening, there would have been serious panic.
.
The Too Big to Fail Banks had to be recapitalized or our financial industry would have collapsed.

Obama's QE was a perfect fix, but the underlying problem of these damned banks and the removal of Glass-Steagal still remain.
 

Toddsterpatriot

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Finance not my domain, but do remember both Obama & Mc Cain running to Washington too see what was going on neither one was president at that time. many went down, many lost a lot. what ever was done had too be done in haste. what a horrible position for a newly elected president too be in.
The political fallout of the word "bailout" really clouded what was happening. We came damn close to seeing the whole thing come down. Maybe it's better that it went that way - if more people knew what was actually happening, there would have been serious panic.
.
The Too Big to Fail Banks had to be recapitalized or our financial industry would have collapsed.

Obama's QE was a perfect fix, but the underlying problem of these damned banks and the removal of Glass-Steagal still remain.
The Too Big to Fail Banks had to be recapitalized or our financial industry would have collapsed.

Obama's QE was a perfect fix,


QE didn't capitalize the banks.
 

Mac1958

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Finance not my domain, but do remember both Obama & Mc Cain running to Washington too see what was going on neither one was president at that time. many went down, many lost a lot. what ever was done had too be done in haste. what a horrible position for a newly elected president too be in.
The political fallout of the word "bailout" really clouded what was happening. We came damn close to seeing the whole thing come down. Maybe it's better that it went that way - if more people knew what was actually happening, there would have been serious panic.
.
The Too Big to Fail Banks had to be recapitalized or our financial industry would have collapsed.

Obama's QE was a perfect fix, but the underlying problem of these damned banks and the removal of Glass-Steagal still remain.
The thing was that the solution to a problem created a bigger problem. As the banks were crumbling, they started eating each other and getting even MORE huge.

Paulsen, Geithner and Bernanke knew it at the time, but they had no other choice. They had to play matchmaker. Too Big to Fail created a classic no-win situation.

NOW is the time to bring back Glass Steagall -- when everything isn't on fire. But we don't have the balls, the banks have too much influence on both our economy and our politics, and we prefer to make massive decisions in an abject panic because we're weak.

Now, look at what the NY Fed is having to do to unglue repo markets. This is a farce. Our financial system is now so constipated that we're having to run around and put out fires while creating new ones. Logic & reason have been replaced by something else.
.
 
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ding

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PBS did a great series on this the Ascent of Money.
It was a systemic failure. People should have gone to jail.
It was the Wild West, some truly lousy things were done, and the perpetrators made a fortune.

Just astonishing.
.
It was criminal how they spread their bad debt around.

Privatized profits. Socialized losses.
 
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JimBowie1958

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Now, look at what the NY Fed is having to do to unglue repo markets. This is a farce. Our financial system is now so constipated that we're having to run around and put out fires while creating new ones. Logic & reason have been replaced by something else.
.
The Fed just dumped another $110 Billion into propping up their artificially low interest rates.

But they have to or else the cost of the $21 TRILLION national debt will literally explode and take down our government.
 

Toddsterpatriot

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Now, look at what the NY Fed is having to do to unglue repo markets. This is a farce. Our financial system is now so constipated that we're having to run around and put out fires while creating new ones. Logic & reason have been replaced by something else.
.
The Fed just dumped another $110 Billion into propping up their artificially low interest rates.

But they have to or else the cost of the $21 TRILLION national debt will literally explode and take down our government.
Because the overnight rate influences much longer term government debt? Instantly?
 

Toddsterpatriot

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PBS did a great series on this the Ascent of Money.
It was a systemic failure. People should have gone to jail.
It was the Wild West, some truly lousy things were done, and the perpetrators made a fortune.

Just astonishing.
.
It was criminal how they spread their bad debt around.

Privatized profits. Socialized losses.
Socialized? The banks lost hundreds of billions.
 

ding

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PBS did a great series on this the Ascent of Money.
It was a systemic failure. People should have gone to jail.
It was the Wild West, some truly lousy things were done, and the perpetrators made a fortune.

Just astonishing.
.
It was criminal how they spread their bad debt around.

Privatized profits. Socialized losses.
Socialized? The banks lost hundreds of billions.
And were bailed out by we the people.
 

Toddsterpatriot

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PBS did a great series on this the Ascent of Money.
It was a systemic failure. People should have gone to jail.
It was the Wild West, some truly lousy things were done, and the perpetrators made a fortune.

Just astonishing.
.
It was criminal how they spread their bad debt around.

Privatized profits. Socialized losses.
Socialized? The banks lost hundreds of billions.
And were bailed out by we the people.
You bet.
The Fed made profitable loans and the Treasury made profitable capital investments in the banking system.
Even while banks lost hundreds of billions on crappy mortgages.
 

Toddsterpatriot

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What does the Fed do with all that revenue?
Whatever banks do with profits.

Why is that a problem to you?

The Federal Reserve did something right finally.

I hope they can keep doing so.
Whatever banks do with profits.

The Federal Reserve isn't a typical bank.

The Federal Reserve did something right finally.

Saving the banking system?
 

anotherlife

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The government and the banks are now like Carnegie and Mellon.

In other words they are the same.

Banks lend free cash and the government underwriters everything then enforces it on the lesser rich.
 

Toddsterpatriot

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The government and the banks are now like Carnegie and Mellon.

In other words they are the same.

Banks lend free cash and the government underwriters everything then enforces it on the lesser rich.
Banks lend free cash

How's that?
 

anotherlife

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The government and the banks are now like Carnegie and Mellon.

In other words they are the same.

Banks lend free cash and the government underwriters everything then enforces it on the lesser rich.
Banks lend free cash

How's that?
The Federal Reserve cartel of banks has it by US law that 90 % of all bank lending is covered by them, and the remaining 10 % is cash coming from the capital of the lending bank. So when the borrower takes his money, 90 % of it is printed out of nothing. (Inflation.) The banks that are now allowed to be in business, have recently made a deal with the government to disclose all client data to the government, ending the millennia old tradition of bank secrecy, for the first time in history. The government pays for this by providing blind and automatic underwriting for all the banks, for all the loans. As a result, this 10 % lending risk has now gone to 0 %. So all loan cash is free. The government enforces it by law, that you give up everything, including your life for this scheme. This is now the law in all western countries in the 21st century.
 

Toddsterpatriot

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The government and the banks are now like Carnegie and Mellon.

In other words they are the same.

Banks lend free cash and the government underwriters everything then enforces it on the lesser rich.
Banks lend free cash

How's that?
The Federal Reserve cartel of banks has it by US law that 90 % of all bank lending is covered by them, and the remaining 10 % is cash coming from the capital of the lending bank. So when the borrower takes his money, 90 % of it is printed out of nothing. (Inflation.) The banks that are now allowed to be in business, have recently made a deal with the government to disclose all client data to the government, ending the millennia old tradition of bank secrecy, for the first time in history. The government pays for this by providing blind and automatic underwriting for all the banks, for all the loans. As a result, this 10 % lending risk has now gone to 0 %. So all loan cash is free. The government enforces it by law, that you give up everything, including your life for this scheme. This is now the law in all western countries in the 21st century.
The Federal Reserve cartel of banks has it by US law that 90 % of all bank lending is covered by them

The Fed doesn't "cover", whatever that's supposed to mean, the lending of member banks.

and the remaining 10 % is cash coming from the capital of the lending bank.

Banks don't lend from their capital, they lend from their reserves.

So all loan cash is free.

Gibberish.
 

anotherlife

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The government and the banks are now like Carnegie and Mellon.

In other words they are the same.

Banks lend free cash and the government underwriters everything then enforces it on the lesser rich.
Banks lend free cash

How's that?
The Federal Reserve cartel of banks has it by US law that 90 % of all bank lending is covered by them, and the remaining 10 % is cash coming from the capital of the lending bank. So when the borrower takes his money, 90 % of it is printed out of nothing. (Inflation.) The banks that are now allowed to be in business, have recently made a deal with the government to disclose all client data to the government, ending the millennia old tradition of bank secrecy, for the first time in history. The government pays for this by providing blind and automatic underwriting for all the banks, for all the loans. As a result, this 10 % lending risk has now gone to 0 %. So all loan cash is free. The government enforces it by law, that you give up everything, including your life for this scheme. This is now the law in all western countries in the 21st century.
The Federal Reserve cartel of banks has it by US law that 90 % of all bank lending is covered by them

The Fed doesn't "cover", whatever that's supposed to mean, the lending of member banks.

and the remaining 10 % is cash coming from the capital of the lending bank.

Banks don't lend from their capital, they lend from their reserves.

So all loan cash is free.

Gibberish.
Bullshit. Hehehe
 

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