Why can't americans admit they messed up the economy?

Can't see that racism has much to do with this thread's opening theme

One could take a closer look at Greenspan's lack of banking controls ( self regulation is never likely to contain the greed ) to find a few answers
 
Quote from reg:

Finally, I'm done with you.

Promise?

My guess is that your "word" means absolutely NOTHING and that you will continue to follow me around like the little "puppy-dog" that you are . . . be it with this screen-name or an alias.

You're unable to use the IGNORE feature because you have no other life than to follow me around on ET.

Keep crying "wolf" Little Boy.
No one cares.
 
Quote from reg:


Just received this PM from Landis82:


Registered: Jul 2006
Posts: 6007
Racism on ET
You are so CONFUSED.

But leave it to you to claim that I have made racist remarks as some moron on ET named "kingofshorts".

Landyboy, I'm going to try to explain to you why you are a hypocrite by decrying racism on ET when yourself are contributing to it.

Also, stop sending me PMs. You are soooo gay when you do that.

He sent me some PM's recently as well.
That gay uh sorry guy has some serious issues.

Loony82 wouldn't recognize truth, reality or logic even if you rolled them up together in a tube and shoved it up his ass.
(although I'd guess he would enjoy it)
 
Exactly.
Bugscoe is just a blowhard.
All talk, and no action.

This has been going on for months, and yet he hasn't done a damn thing about it. He just keeps posting on ET as if that is some sort of a meaningful endeavor.


http://www.elitetrader.com/vb/showthread.php?s=&postid=2382656#post2382656


Here Landis the Freak is criticizing Bugscoe for posting on a message board too much and doing nothing!!!!! When I read that I almost fell off my chair. This is one the dumbest posts I have ever read here. The guy(?!) has a self-awareness of a dog to write something like on the MESSAGE BOARD!!!!!!

COUNT YOUR POSTS DUMBASS AND THINK ABOUT WHAT YOU ARE DOING HERE!!!!!!!
 
Quote from MandelbrotSet:

I think you are incredibly stupid also, and I am glad you will no longer burden this thread with the detritus coming from your diseased mind.

Just don't read any books you might get confused.:D :D
 
Quote from Trader666:

Out of context, cesspool? My "intellectual dishonesty?" Who are YOU trying to kid? First, your previous sentence was: "my point is racism starts with discrimination based on race" which is bullshit because racism is a belief or doctrine that may or may not lead to discrimination. The belief MUST come before the action. Racism doesn't start with discrimination you idiot... that's just your twisted rationalization for saying racist things and then claiming you're not racist because you don't discriminate. Second, why wouldn't anyone think you meant that in a racist context when you referred to the president like this:

What I want to say is it seems to me Europe (in reality) is scared of Obama just as much as I am. If Negro has his way Yank's demand will never come back. Second imagine U.S. government starting to compete for healthcare services, products with other Western governments in case of nationalizing HC in the U.S..
So much "goodwill" for Negro among common folks in Europe. Enjoy while it last. It's gonna be a short high.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2381016#post2381016

And wrote the following about blacks:

Let's vote for a black guy because we all know how well blacks (generally speaking) can manage their affairs. The whole Africa is kind of testimony for that.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2131567&#post2131567

racism
–noun
1. a belief or doctrine that inherent differences among the various human races determine cultural or individual achievement

http://dictionary.reference.com/browse/racist

Of course you are dishonest phony idiot and racist. When I use example from real life (remember Chicago South Side) you call it "stupid theoretical construct", I understand what else can you say? You have no freaking argument! Of course you wouldn't move into a black neighborhood to "enjoy cheap living". You know it as well as I do you stupid pretentious ass. Yet in a typical lefty lunatic politically correct fashion you are quick to throw a racist label at somebody who is basically living life not differently than you you fucking lefty imbecil.
Feeling gooood about yourself asshole aren't you?

You can stick your definition up in your ass, because that's "theoretical construct" for me, you know why pinhead? When you take 10,000 people and ask them about their beliefs about race, nobody and I mean NOBODY will tell you the truth. At the same time they will avoid black neighorhoods like a plaque.

IT'S LIBERAL PHONY POMPOUS ASSES LIKE YOU I HATE NOT BLACKS
 
Quote from gnome:

The populace of we Americans are far down the list of "reasons" for this mess.

Sure, a percentage of Americans who could not get a loan for a home before were [falsely] given eligibility when they shouldn't have been... but those people always WANTED a home.. "the American dream" sort of thing.

Then there were those who understood finances and bought multiple houses for investments and flipping... but they never should have been allowed to do so with little or no money down.

Those really responsible were (1) GREEDY American politicians for making such loans not only possible, but MANDATORY in many cases, (2) GREEDY banks for irresponsible underwriting of mortgage banks (because they knew they could offload the mortgage to Freddie and Fannie... and they knew THAT because GREEDY politicians arranged for Freddie and Fannie to by EVERYTHING in the way of home mortgages, quality or not), (3) GREEDY Investment Banks for devising the Credit Default Swaps where no one was required to reserve to honor obligations if called upon... BUT they never would have been able to develop CDSs without #1 and #2 above, and (4) Alan GreenScam and the Fed for facilitating much of it with irresponsible money-pump and irresponsibly holding rates very low for way too long... thus creating a "carry trade" where there was even no currency risk. (This facilitated the perception of "the perfect investment"... higher than other current yields and INSURED against default... or so they thought... and so the GREEDY financial world LEVERED THE BEJESUS out of the situation.)

Without all of the above, the "average American" wouldn't have messed up anything and we'd have none of these problems facing the financial world today.

The amount of damage caused by unsophisticated Americans who were falsely given sub-prime mortgages and then defaulted on them is perhaps only 1/100th of the total damage.

So.... those responsible are Americans... a relative handful of us... and they are slimy enough to not only NEVER admit it and claim responsibility, but who also LIE AND DECEIVE ROUTINELY in their normal course of doing business.

Although I do agree with most of what is written above as being 1/2 of the catalyst, you are minimzing the role that the greedy Public played.

It is quite simply a fact that without the excessive demand, the supply of negative amortizing loans, high-margin sub-prime ARMs and excessive use of Stated would never have happened.

I have been a loan officer for a long time. Between 2004 to 2007 I have personally experienced:

People literally crying at the new home builder's lot because they missed out on the house they wanted.

People calling to BEG to get approved for their excessive housing purchase.

People willing to jump through any possible hoop, including outright fraud (they were told "no" but the point is they tried) to get approved.

People willing to sign a loan note at 8% or even much higher (they were ALL going to clean up their credit this time).

People buying 3, 4 or 5 so-called "investment" homes that they never even researched to see if the rent cash flow was viable.

People willing to sign negative amortization loan notes to get away with only paying 1/2 interest, so they could buy more house.

etc. etc.

The point is that the banks may have hung themselves on the leverage, but the public demand was the rope.

------------------------------------

If you think back to when the housing run started, the Tech Bubble had just burst so stocks were out of favor, commodities were cheap due to what should have been a real recession if not hyper-stimulated by G-span - so RE was the only asset class perceived as "safe".

It is the same reason that oil and other commodities had a bubble run. Did anyone seriously think oil was worth $140/barrel? When stocks and real estate were both wobbly, then commodites were next.

It is a sector rotation cycle that is getting more and more bubblicious as time goes on.
 
Sorry I feel it necessary to be offensive BUT

Time and again America has failed to provide proper leadership in the world. It is easier to grab the top position but quite another thing to carry it out.

Economically - largely a US failure

Strategically - attacking smaller countries on false premises

Pirates - Back in the good old days Britain would have cleaned up that festering sore of piracy long ago. It's unbelievable that 4 pirates can hold off the world's largest navy !!

You got the muscle but NOT the brains/will and usually fail miserably. I was hoping Obama might provide strong and sensible leadership but I am not holding my breath. Let's hope the US isn't waiting to be paid off on some sleazy deal like it has been often enough

( reluctant ally of a big booby !!)
 
Cesko (cesspool) you never did explain why these quotes of yours don't make you a racist... all you do is hide like the coward you are behind lame obfuscations.

Your words speak loudly for themselves.

What I want to say is it seems to me Europe (in reality) is scared of Obama just as much as I am. If Negro has his way Yank's demand will never come back. Second imagine U.S. government starting to compete for healthcare services, products with other Western governments in case of nationalizing HC in the U.S.. So much "goodwill" for Negro among common folks in Europe. Enjoy while it last. It's gonna be a short high.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2381016#post2381016

Let's vote for a black guy because we all know how well blacks (generally speaking) can manage their affairs. The whole Africa is kind of testimony for that.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2131567&#post2131567

racism
–noun
1. a belief or doctrine that inherent differences among the various human races determine cultural or individual achievement

http://dictionary.reference.com/browse/racist
 
Exactly. Well said.
Quote from slapshot:

Although I do agree with most of what is written above as being 1/2 of the catalyst, you are minimzing the role that the greedy Public played.

It is quite simply a fact that without the excessive demand, the supply of negative amortizing loans, high-margin sub-prime ARMs and excessive use of Stated would never have happened.

I have been a loan officer for a long time. Between 2004 to 2007 I have personally experienced:

People literally crying at the new home builder's lot because they missed out on the house they wanted.

People calling to BEG to get approved for their excessive housing purchase.

People willing to jump through any possible hoop, including outright fraud (they were told "no" but the point is they tried) to get approved.

People willing to sign a loan note at 8% or even much higher (they were ALL going to clean up their credit this time).

People buying 3, 4 or 5 so-called "investment" homes that they never even researched to see if the rent cash flow was viable.

People willing to sign negative amortization loan notes to get away with only paying 1/2 interest, so they could buy more house.

etc. etc.

The point is that the banks may have hung themselves on the leverage, but the public demand was the rope.

 
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