What you need to believe to buy into "we didn't see it coming"

W

WaveStrider

That the FBI did not alert anyone to it's findings early that fraud was growing in the subprime market.

That the warnings of Fed governors of subprime problems given to Greenspan never happened.

That the ratings agencies were not being influenced by how much they were making by giving higher ratings to CDO/CMO's, even though they would rate deals put together by "cows".

That financial companies creating the CDO/CMO's thought they had good investments while they ratings-shopped them around to the ratings agencies, giving the money to the agency that would rate what they had with the highest rating.

That the insurance for these investments the financial companies were creating/buying/selling were not called "insurance" (which would be regulated), but "swaps" (which were not regulated) by accident.

That they missed the fact that real estate had in history suffered a decline. Ever.

Sounds reasonable to me...
 
Fraud ?!?!?!?!?!

But sir, you don't get it....

EVERYONE has the right to own a home

Please don't confuse the issue with talk about being unproductive and affordability

the whole point is mute with the fact that Obama is going to bring change and yes we can and all that other other sound bytes.......
 
These Socialists can blur the definitions of anything, I heard one Democrat elected moron on Air America last year say"democracy means everybody has the right to own a home"....
 
That happened on Clinton's watch, Clinton gave us the subprime thingy too, they are squirming out of that little historical spotlight but that guy did a lot of damage..
 
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