Watched "The Big Short" housing bubble movie

[Timmy]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

I've heard it doesn't even touch the AIG credit default swap debacle, the ratings agencies' completely inept role or the abject failure of the regulators to, uh, regulate.

So it sounds like just another biased account of the Meltdown.

I think that makes about 30 of them so far.
.

There's a scene wh the ratings agencies . They went with it to make the banks happy .

As for the swaps . That market was created by the banks , not the Feds .

 

[Mac1958]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

I've heard it doesn't even touch the AIG credit default swap debacle, the ratings agencies' completely inept role or the abject failure of the regulators to, uh, regulate.

So it sounds like just another biased account of the Meltdown.

I think that makes about 30 of them so far.
.

There's a scene wh the ratings agencies . They went with it to make the banks happy .

As for the swaps . That market was created by the banks , not the Feds .

The Feds didn't regulate the swaps. That's their job.

The ratings agencies were responsible for what they did, so saying it was just to please the banks ain't the point.
.

 

[francoHFW]

The banks could be considered the victims in the government's scheme to make the "American dream" of owning a home available to everyone regardless of their ability to pay. Early in the Clinton administration the democrats decided that they would force banks to make bad loans under threat of civil rights litigation and the bad loans would be laundered through Fannie Mae and sold back to lending institutions as good loans. The scheme was complete with organized crime style political payoffs and no show jobs. When democrats won the majority in both houses midway in Bush's 2nd term, Barney Frank became chairperson of the House Banking Committee which had oversight responsibility for Fannie Mae. Frank told Americans that Fannie was solvent and doing fine when it was on the verge of collapse. The big question is whether Frank was so incompetent that he didn't see the housing bubble about to collapse or whether democrats planned it in order to cause the biggest October surprise in history. True to form the government covered it's ass and the media cooperated by blaming republicans and failing to ask chairperson Frank what the hell he was doing.

Funny how nothing went wrong until Booooshie "regulators" got on the job and Fannie and Freddie's share of the market went from 75% to 25% of the market, dupe.

Yup, everyone was honest in telling that the financial markets were about to implode. And F+F was the healthiest part of it.

 

[Toro]

The banks could be considered the victims in the government's scheme to make the "American dream" of owning a home available to everyone regardless of their ability to pay. Early in the Clinton administration the democrats decided that they would force banks to make bad loans under threat of civil rights litigation and the bad loans would be laundered through Fannie Mae and sold back to lending institutions as good loans. The scheme was complete with organized crime style political payoffs and no show jobs. When democrats won the majority in both houses midway in Bush's 2nd term, Barney Frank became chairperson of the House Banking Committee which had oversight responsibility for Fannie Mae. Frank told Americans that Fannie was solvent and doing fine when it was on the verge of collapse. The big question is whether Frank was so incompetent that he didn't see the housing bubble about to collapse or whether democrats planned it in order to cause the biggest October surprise in history. True to form the government covered it's ass and the media cooperated by blaming republicans and failing to ask chairperson Frank what the hell he was doing.

That's absolute nonsense.

The banks were the biggest whores in the game.

The problem with the ideologues who think the free market can do no wrong is that even if they were correct in their argument that the government forced all these bad loans - and they weren't - rational capitalists would have seen that the whole thing was a scam and would NOT have lent at those terms.

But they did.

• 24 of the 25 largest largest subprime lenders weren't to the CRA requirements.
• CRA loans were no worse than the other similar subprime loans.
• The biggest losses weren't in CRA areas
• Freddie and Fannie were losing market share in subprime right up until the last year of the Global Financial Crisis. Only in the last year did they lower their standards to the market to regain market share.

It is one of the biggest lies conservative ideologues hoist upon the American public.

 

[francoHFW]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

I've heard it doesn't even touch the AIG credit default swap debacle, the ratings agencies' completely inept role or the abject failure of the regulators to, uh, regulate.

So it sounds like just another biased account of the Meltdown.

I think that makes about 30 of them so far.
.

There's a scene wh the ratings agencies . They went with it to make the banks happy .

As for the swaps . That market was created by the banks , not the Feds .

"Regulated" by Boooshie cronies....which means partying with their lobbyists and setting up jobs when they quit gov't work for the big bucks. See big oil regulators...

 

[Toro]

I had bankers fucking calling me to sell me this shit.

What a bunch of garbage.

 

[Stephanie]

The banks could be considered the victims in the government's scheme to make the "American dream" of owning a home available to everyone regardless of their ability to pay. Early in the Clinton administration the democrats decided that they would force banks to make bad loans under threat of civil rights litigation and the bad loans would be laundered through Fannie Mae and sold back to lending institutions as good loans. The scheme was complete with organized crime style political payoffs and no show jobs. When democrats won the majority in both houses midway in Bush's 2nd term, Barney Frank became chairperson of the House Banking Committee which had oversight responsibility for Fannie Mae. Frank told Americans that Fannie was solvent and doing fine when it was on the verge of collapse. The big question is whether Frank was so incompetent that he didn't see the housing bubble about to collapse or whether democrats planned it in order to cause the biggest October surprise in history. True to form the government covered it's ass and the media cooperated by blaming republicans and failing to ask chairperson Frank what the hell he was doing.

That's absolute nonsense.

The banks were the biggest whores in the game.

The problem with the ideologues who think the free market can do no wrong is that even if they were correct in their argument that the government forced all these bad loans - and they weren't - rational capitalists would have seen that the whole thing was a scam and would NOT have lent at those terms.

But they did.

• 24 of the 25 largest largest subprime lenders weren't to the CRA requirements.
• CRA loans were no worse than the other similar subprime loans.
• The biggest losses weren't in CRA areas
• Freddie and Fannie were losing market share in subprime right up until the last year of the Global Financial Crisis. Only in the last year did they lower their standards to the market to regain market share.

It is one of the biggest lies conservative ideologues hoist upon the American public.

who's all these "Conservatives" you speak of? there isn't any conservatives running our Government. and so you would agree with BernieSanders wanting to break up the banks?

 

[Mac1958]

I had bankers fucking calling me to sell me this shit.

What a bunch of garbage.

One of my brothers is a CFO and he looked some of the CMO's for possible investments.

He said he never saw such an unintelligible mess and stayed away.

Those things should never had made it to market.
.

 

[The Rabbi]

I had bankers fucking calling me to sell me this shit.

What a bunch of garbage.

One of my brothers is a CFO and he looked some of the CMO's for possible investments.

He said he never saw such an unintelligible mess and stayed away.

Those things should never had made it to market.
.

WRong. Your brother made the right call. I was a mortgage broker for years so know what goes into some of those things. I would never invest in anything dealing with MBSs.
BUt others did. These were almost entirely trained people with MBAs. They made the wrong decision but it is not government's job to keep people from making mistakes.

 

[francoHFW]

The banks could be considered the victims in the government's scheme to make the "American dream" of owning a home available to everyone regardless of their ability to pay. Early in the Clinton administration the democrats decided that they would force banks to make bad loans under threat of civil rights litigation and the bad loans would be laundered through Fannie Mae and sold back to lending institutions as good loans. The scheme was complete with organized crime style political payoffs and no show jobs. When democrats won the majority in both houses midway in Bush's 2nd term, Barney Frank became chairperson of the House Banking Committee which had oversight responsibility for Fannie Mae. Frank told Americans that Fannie was solvent and doing fine when it was on the verge of collapse. The big question is whether Frank was so incompetent that he didn't see the housing bubble about to collapse or whether democrats planned it in order to cause the biggest October surprise in history. True to form the government covered it's ass and the media cooperated by blaming republicans and failing to ask chairperson Frank what the hell he was doing.

That's absolute nonsense.

The banks were the biggest whores in the game.

The problem with the ideologues who think the free market can do no wrong is that even if they were correct in their argument that the government forced all these bad loans - and they weren't - rational capitalists would have seen that the whole thing was a scam and would NOT have lent at those terms.

But they did.

• 24 of the 25 largest largest subprime lenders weren't to the CRA requirements.
• CRA loans were no worse than the other similar subprime loans.
• The biggest losses weren't in CRA areas
• Freddie and Fannie were losing market share in subprime right up until the last year of the Global Financial Crisis. Only in the last year did they lower their standards to the market to regain market share.

It is one of the biggest lies conservative ideologues hoist upon the American public.

who's all these "Conservatives" you speak of? and so you would agree with BernieSanders wanting to break up the banks?

All the bought off jackasses you admire, dupe.

 

[francoHFW]

I had bankers fucking calling me to sell me this shit.

What a bunch of garbage.

One of my brothers is a CFO and he looked some of the CMO's for possible investments.

He said he never saw such an unintelligible mess and stayed away.

Those things should never had made it to market.
.

WRong. Your brother made the right call. I was a mortgage broker for years so know what goes into some of those things. I would never invest in anything dealing with MBSs.
BUt others did. These were almost entirely trained people with MBAs. They made the wrong decision but it is not government's job to keep people from making mistakes.

"Mistakes"? LOL, dupe.

 

[guno]

The banks could be considered the victims in the government's scheme to make the "American dream" of owning a home available to everyone regardless of their ability to pay. Early in the Clinton administration the democrats decided that they would force banks to make bad loans under threat of civil rights litigation and the bad loans would be laundered through Fannie Mae and sold back to lending institutions as good loans. The scheme was complete with organized crime style political payoffs and no show jobs. When democrats won the majority in both houses midway in Bush's 2nd term, Barney Frank became chairperson of the House Banking Committee which had oversight responsibility for Fannie Mae. Frank told Americans that Fannie was solvent and doing fine when it was on the verge of collapse. The big question is whether Frank was so incompetent that he didn't see the housing bubble about to collapse or whether democrats planned it in order to cause the biggest October surprise in history. True to form the government covered it's ass and the media cooperated by blaming republicans and failing to ask chairperson Frank what the hell he was doing.

That's absolute nonsense.

The banks were the biggest whores in the game.

The problem with the ideologues who think the free market can do no wrong is that even if they were correct in their argument that the government forced all these bad loans - and they weren't - rational capitalists would have seen that the whole thing was a scam and would NOT have lent at those terms.

But they did.

• 24 of the 25 largest largest subprime lenders weren't to the CRA requirements.
• CRA loans were no worse than the other similar subprime loans.
• The biggest losses weren't in CRA areas
• Freddie and Fannie were losing market share in subprime right up until the last year of the Global Financial Crisis. Only in the last year did they lower their standards to the market to regain market share.

It is one of the biggest lies conservative ideologues hoist upon the American public.

who's all these "Conservatives" you speak of? there isn't any conservatives running our Government. and so you would agree with BernieSanders wanting to break up the banks?

don't you get tired of embarrassing yourself

 

[Toro]

BTW, this next recession which is coming up has absolutely nothing to do with the Fed or Obama or Republicans or whomever the narrow-minded political partisans want to blame.

 

[Likkmee]

OK

 

[LeftofLeft]

good grief, what channel was this fairy tale on? CNN ? and they blamed the Banks?

So you feel the banks were just innocent victims? Please explain.

I don't shed tears for banks but do get angry at the root cause. Had it been bankers run awry with this on their own. The same voices arguing that banks preyed upon innocent mortgage holders were the same voices complaining they were denied loans based on race and neighborhood.

 

[The Rabbi]

BTW, this next recession which is coming up has absolutely nothing to do with the Fed or Obama or Republicans or whomever the narrow-minded political partisans want to blame.

Nonsense. Obama's policies of high regulation and cheap money have created the weakest economic recovery on record. It is no surprise that we are falling back into recession. Obviously there are factors beyond his policies. But those definitely play a big part.

 

[CrusaderFrank]

Why were F/F stamping AAA on subprime paper?

GSEs don't rate paper.

Be careful about channeling Krugman They were de facto AAA credits and THEY bought no income no assets paper as if it were AAA

 

[Indeependent]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Chump...I went to Citibank for a Mortgage in 2006 after being unemployed for 2 years.
The SOFTWARE rejected my application.
The kid at the desk took my application into the Bank Manager's office and 5 minutes later, the application was Rubber Stamped with Approved.
You get it?
The SOFTWARE rejected my application.
The BANK MANAGER Rubber Stamped Approval.
You get it?

Because they sold the fucking paper to F/F!!!!!!!!

Get it?

They sold it overseas to Great Britain, Japan, etc..., who realized it was worthless and they sold it to China.
You really ought to read something by an author who's not on Fox.

 

[Indeependent]

You Progressive peckerheads should look up how Joe Kennedy made his fortune

Also lookup the current owner of the Democrat Party, George Soros

Short Sellers all

It's called Free Market Capitalism...the stuff you get orgasms on.

 

[Clementine]

its the kind of movie that angriest up the blood .
It's about some guys who saw the housing bubble burst coming in 2007 , and how they cashed it .

They ain't the bad guys either . The behavior of the banks and sec was rediculous . And of course they all got bailed out , no one went to jail.

Makes you a Bernie Sanders fan .

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank

Any thoughts on the majority of subprime loans...which were not Fannie or Freddie?

Why were F/F stamping AAA on subprime paper?

Chump...I went to Citibank for a Mortgage in 2006 after being unemployed for 2 years.
The SOFTWARE rejected my application.
The kid at the desk took my application into the Bank Manager's office and 5 minutes later, the application was Rubber Stamped with Approved.
You get it?
The SOFTWARE rejected my application.
The BANK MANAGER Rubber Stamped Approval.
You get it?

The software was what the banks and their lawyers came up with. In the past, they rejected a lot of loans because of their standards. That is the very thing that the Clinton administration set out to change. While the bank's rules were still in their system, they were forced to ignore those and grant no-docs loans. They were being watched and had to make a certain amount of loans to certain people in certain neighborhoods. Janet Reno pounded her man-fist on the podium and warned them that they would make the loans- or else!

The interest rates were so high because they knew that the price of the homes were inflated and that there was a 99.99% chance that the people would default on their mortgages. Government knew it, too, but those who love a good crisis that gives government a chance to intervene in the private sector knew it was too good to pass up. And it was one hell of a slush fund before it all came crashing down.

This is what happens when politicians get involved in running businesses. Most Republicans tend to be business owners and understand how it works. Most Dems tend to be lawyers and only know how to go after people with deep pockets. It shows in policies on both sides.