The foreclosure problem will be with us until around 2015 because there are too many foreclosed properties to process quickly enough. ARMs and ALT-A's are working their rate-reset magic through 2012; defaults 6- 12 after.
Government also distorted the the education market by providing direct and backstopped loans to students driving up price and salaries for education administrators. Now most students leave 4 years later with crushing debt that a good many never pay off.
Why was AIG bailed out? Bailing out corruption and cds bs; encouraging mysticism. Insurance is supposed to do what? Create an investing time bomb for the insurer? Or hedge loss using conservative probability?
The regulators came from Wall Street and Congress, an incestuous bed. Bond Issuers pay Moody's/Fitch/S&P to rate their bonds...did you get that? The credit rating agencies revenue is mostly being provided by Bond Issuers. Conflict of Interest?
All the financial reform bill, Dodd/Frank, has done is create bigger banks that are now too-x-too big to fail. US does not produce the wealth so print the money for the bailout then massive inflation.
"Importance of mentoring, integrity, public service." Hmm...importance of skepticism? What caused the largest credit bubble in the history of man? We mentored stupidity and used peer pressure to prevent questioning under the mask of integrity.
The foreclosure problem will be with us until around 2015 because there are too many foreclosed properties to process quickly enough. ARMs and ALT-A's are working their rate-reset magic through 2012; defaults 6- 12 after.
danno321s 9 months ago
Government also distorted the the education market by providing direct and backstopped loans to students driving up price and salaries for education administrators. Now most students leave 4 years later with crushing debt that a good many never pay off.
danno321s 9 months ago
@47 min, it is sad. Was Volcker starting to cry? Sure sounds like an empire in decline.
danno321s 9 months ago
Why was AIG bailed out? Bailing out corruption and cds bs; encouraging mysticism. Insurance is supposed to do what? Create an investing time bomb for the insurer? Or hedge loss using conservative probability?
danno321s 9 months ago
The regulators came from Wall Street and Congress, an incestuous bed. Bond Issuers pay Moody's/Fitch/S&P to rate their bonds...did you get that? The credit rating agencies revenue is mostly being provided by Bond Issuers. Conflict of Interest?
danno321s 9 months ago
All the financial reform bill, Dodd/Frank, has done is create bigger banks that are now too-x-too big to fail. US does not produce the wealth so print the money for the bailout then massive inflation.
danno321s 9 months ago
"Importance of mentoring, integrity, public service." Hmm...importance of skepticism? What caused the largest credit bubble in the history of man? We mentored stupidity and used peer pressure to prevent questioning under the mask of integrity.
danno321s 9 months ago
man they need to fire Bernanke and bring Volcker back..
BlackThought415 1 year ago