perhaps it is not what you said - but I understood this immediately from Mecro's first post which obviously you misunderstood.
Can you both stop namecalling now, it ain't adding anything to the discussion.
Maria
Broke-- The New American Dream
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perhaps it is not what you said - but I understood this immediately from Mecro's first post which obviously you misunderstood.
Can you both stop namecalling now, it ain't adding anything to the discussion.
Maria
Dennis Hopper was the first clue there buddy...
You're funny, in a pathetic sort of way. The reality is that you are a clueless & sad idiot. But it is entertaining.
Let's get back to my post which obviously hit a nerve with you, probably cause you cannot face any logic. So have you figured out why the "deadbeats" deserve so much special attention this year? Or are you just going along with the fad of blaming them?
mecromoron, ignorant statements like these show that you don't have the faintest understanding of the complexity of the issue. On top of that, you're inarticulate and your position seems to shift. I don't know whether that's because you're trying to save face or what but in any event I may as well be arguing with an insect.
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At the end of the day perhaps you all are right in a way. IMHO, government, media, banks/brokers and the individual all bear responsibility. To what degree and how much for each? Of course that can be debated, but it seems clear that many share blame at some level.
Exactly. This whole mess is a perfect storm of greed, selfishness, stupidity, irresponsibility and fraud... our culture of entitlement, pandering politicians who socialized credit, incompetent regulators, gluttonous & reckless financial institutions, greedy rating agencies, deadbeats wanting to live beyond their means, etc., etc.
Still struggling with the question I asked you? LOL, let's try again.
So what is so special about mortgage defaults & foreclosures this time that it is collapsing the financial system?
I figure in about 10 years, you might finally figure out exactly why banks were jumping over each other to give out mortgages that anyone with a brain knew would be in default within years. There are mortgage officers that are going on record stating that even though everyone in the department knew these mortgages will be in default, the word from the top was to give them out anyway.
Funny, kinda like the IBs taking worthless internet companies public en masse.
actually the whole thing is self fullfilling.
banks started with their credit problems, so they got out of their trading en masse....
what happens if you just dump a large block because let's face it the banks never had any real trading skills....
next a lot of the funds are saying "let's get out of our trading, the market is too volatile"
yeah right, who is there to take it of their hands?
what happens if the market gets flooded and there are no buyers?
now the avg joe is panicking and moves out, who is going to take that last lot?
at the end of the day it points to only a few single issues: banks lending on no deposit.
(plus what I put a lot of blame on is the carry trade - but hey that once again has to do with lending....)
banks started with their credit problems, so they got out of their trading en masse....
what happens if you just dump a large block because let's face it the banks never had any real trading skills....
next a lot of the funds are saying "let's get out of our trading, the market is too volatile"
yeah right, who is there to take it of their hands?
what happens if the market gets flooded and there are no buyers?
now the avg joe is panicking and moves out, who is going to take that last lot?
at the end of the day it points to only a few single issues: banks lending on no deposit.
(plus what I put a lot of blame on is the carry trade - but hey that once again has to do with lending....)
OMG are you dense! Tell us how a housing bubble can happen without individuals buying in a mania. The bubble was fueled by mortgage derivatives which allowed scumbag lenders to offer reckless loans while putting the risk of default on others which enabled irresponsible/greedy/stupid individuals to buy houses they couldn't afford, etc., etc. That's an oversimplification but it was a vicious cycle which wouldn't have happened without the bad behavior of all parties.