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pssst. you lost the debate
Did Deregulated Derivatives Cause the Financial Crisis? : The Freeman : Foundation for Economic Education
Commodity Futures Modernization Act of 2000 - Wikipedia, the free encyclopedia
Gramm
Oh looky, it appears that you are mostly wrong. Clinton signed everything into law, and the CRA requirements were critical to passage of the bi-partisan passed law you're trying to hang around Gramm's neck. Looks like Democrats were all for this "conservative" economic policy. Looks like you'll have to take an equal share of the blame too.
So you're against
the deregulation of the financial industry and reject conservative policy?
Wait, you're for it. This is getting complex. Maybe you should at least try to be honest.
Meantime, who cut taxes on the wealthy and deregulated CDSs? Come on, I know you can say it.
pssst, did you ever figure out that I posted Bush's Working Group on Financial Markets?
Clinton cut taxes on the rich and deregulated CDS's..
The Last Time The Dow Was Here... | Zero Hedge
"Mission Accomplished" - With CNBC now lost for countdown-able targets (though 20,000 is so close), we leave it to none other than Jim Cramer, quoting Stanley Druckenmiller, to sum up where we stand (oh and the following list of remarkable then-and-now macro, micro, and market variables), namely that "we all know it's going to end badly, but in the meantime we can make some money" - ZH translation: "just make sure to sell ahead of everyone else."
Dow Jones Industrial Average: Then 14164.5; Now 14164.5
Regular Gas Price: Then $2.75; Now $3.73
GDP Growth: Then +2.5%; Now +1.6%
Americans Unemployed (in Labor Force): Then 6.7 million; Now 13.2 million
Americans On Food Stamps: Then 26.9 million; Now 47.69 million
Size of Fed's Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
US Debt as a Percentage of GDP: Then ~38%; Now 74.2%
US Deficit (LTM): Then $97 billion; Now $975.6 billion
Total US Debt Oustanding: Then $9.008 trillion; Now $16.43 trillion
US Household Debt: Then $13.5 trillion; Now 12.87 trillion
Labor Force Particpation Rate: Then 65.8%; Now 63.6%
Consumer Confidence: Then 99.5; Now 69.6
S&P Rating of the US: Then AAA; Now AA+
VIX: Then 17.5%; Now 14%
10 Year Treasury Yield: Then 4.64%; Now 1.89%
EURUSD: Then 1.4145; Now 1.3050
Gold: Then $748; Now $1583
NYSE Average LTM Volume (per day): Then 1.3 billion shares; Now 545 million shares
pssst, dd you ever realize the extent of my involvement was pointing out the fallacy of the Presidents Working Group being uses as an authoritative source for the debate?
hey, the people Obama hand selected to form the plunge protection team blames Bush
what more do you want?
/sarcasm
clownsayswhat
Hey fenton, how's that update coming.
Just noticed this thread. The article cited by the OP is one of many examples of why I don't regret quitting reading ZH a while back.
Looks like the Obama presidency ended quite well. a growing economy, low unemployment and deficit so low republicans want to raise it.
whats that behind the curtain? is that the Bush Mortgage Bubble and subsequent Bush Financial Crisis? yea, destroying the economy of America and causing the first world wide recession in 30 years doesnt mean anything.
nothing to see here.
ZH is the ultimate chicken little. They (he) will be right one day, after being wrong for over a decade.
:lamo Your'e always so predictable and easy VERN
Donna Brazille slams Obama's economy...
https://wikileaks.org/podesta-emails/emailid/24797
From February 13 2016...
" I think people are more in despair about how things are - yes, new jobs but they are low wage jobs.
Housing is a HUGE issue. Most people pay half of what they make on Rent ".
I believe it was Chris dodd and Barney frank that refused to get fannie and freddie under control
https://www.usnews.com/opinion/blog...rats-were-wrong-on-fannie-mae-and-freddie-mac
I still see alot of misconceptions about the Bush Mortgage Bubble and the Bush policies that encouraged, funde and protected it so I thought I would start an FAQ section. Since the resulting destruction of the housing and financial sector are still a drag on the economy today, it seems relevent
Q When did the Bush Mortgage Bubble start?
A The general timeframe is it started late 2004.
From Bush’s President’s Working Group on Financial Markets October 2008
“The Presidents Working Group’s March policy statement acknowledged that turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007.”
Remember when you believed:
President Obama was born in Kenya
His BC a forgery
he wants to kill old people
the vile and disgusting "stand down" lies
I do. Those lying conservative narratives like your "editorial" require you to ignore the facts. Oh and just like most conservatives here, your "editorial" has to resort to lies. Case in point.
"That bill, which the Democrats stopped from passing, would have prohibited the GSEs from speculating on the mortgage-based securities they packaged. "
While its a matter of opinion if the "bill" would have accomplished anything it just another blatant conservative lie to say the democrats stopped it. Republicans controlled congress and Senate Leader Frist refused to allow a vote on it after it passed committee . And fenton can confirm it. If you have any questions, here's a thread that can answer them
There was a study published a few months ago. I heard the story on NPR. This study concluded that the vast majority of foreclosures were not of homeowners who couldn't afford their mortgage, although those did make up a small percentage, they were by light weight developers and flippers who got over extended and walked away. It was like 80% of them. I'll have to find that and post it. Kind of blows holes in a lot of theories about fannie and freddie.
I don't doubt that Fannie and Freddie overbought the MBSs, though. And the rating agencies should have all gone to jail for their gross negligence. There were a lot of moving pieces in the meltdown.
I see your attempt to dodge the question is noted. without actually dealing with what is being commented on. This has nothing to do with obama.
It was shown numerous times that fannie and freddie were out of control and all they did was stick their head in the sand.
the liberals in congress continued to stop any reform to freddie and fannie.
Ludin, where'd you go? I'd ask fenton where he went but he never answers questions. seriously Ludin, if even you cant think of some silly made up of thin air response then certainly it has to occur to you that what you believe is just more conservative lies. Remember when your conservative masters told you:I see your attempt to dodge the question is noted.
Ludin, where'd you go? I'd ask fenton where he went but he never answers questions. seriously Ludin, if even you cant think of some silly made up of thin air response then certainly it has to occur to you that what you believe is just more conservative lies. Remember when your conservative masters told you:
resident Obama was born in Kenya
His BC a forgery
he wants to kill old people
the vile and disgusting "stand down" lies
Ludin, can you please explain to me why you choose narrative over integrity?
I don't doubt that Fannie and Freddie overbought the MBSs, though. And the rating agencies should have all gone to jail for their gross negligence. There were a lot of moving pieces in the meltdown.
There was a study published a few months ago. I heard the story on NPR. This study concluded that the vast majority of foreclosures were not of homeowners who couldn't afford their mortgage, although those did make up a small percentage, they were by light weight developers and flippers who got over extended and walked away. It was like 80% of them. I'll have to find that and post it. Kind of blows holes in a lot of theories about fannie and freddie.
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