tradersboredom
Guest
wrong these banks lent money to fraudsters and wall street hustlers.
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CNBC-: Dollar is "Absolutely Doomed"
- Thread starter talknet
- Start date
Quote from talknet:
CNBC-: Dollar is "Absolutely Doomed"
With promises of more U.S. government intervention, we are going to be in a situation of hyperinflation and a dollar that is absolutely doomed, warns Kirby Daley, senior strategist at the Newedge Group. Daley & Dodge Dorland, CIO at Landor Capital Management
http://www.cnbc.com/id/15840232?video=1005419227&play=1
agree, but without the hyperinflation part.
tradersboredom
Guest
crooks bought CD or credit defaults...so basically it was one big insurance scam.
if the loans defaulted the people buying CD cash in big.
the person selling those CD insurance were scammed by credit agencies who rated those bonds as AAAAA credit rating when they were infact junk bonds.
if the loans defaulted the people buying CD cash in big.
the person selling those CD insurance were scammed by credit agencies who rated those bonds as AAAAA credit rating when they were infact junk bonds.
Quote from gnome:
Do they EVER learn? That's how we got this mess started... Gummint forcing banks to lend to non-qualified borrowers, especially minorities.
Risky loans and deregulation are good for the US economy and stock market. They may create bubbles, but the net gains are always positive.