@theparsonsman, really? a concatenation of rogue traders name Jerome Kerviel and Nick Leeson using Barings' error account 88888. Not that difficult to figure out. In fact I feel my IQ just dropped a little posting this.
Well, because that was who he was talking about...a black man in a string vest sitting on a porch in Alabama... a fairly common sight, hence the immediate understanding of the reference....are you offended? For yourself? On behalf of the string-vested black man?
@nkroti10 He is playing an idiotic white banker. It is the kind of stupid thing one of them would use. Chill out, it is British comedy and therefore hard for the US brain.
@nkroti10 "While high unemployment is affecting all sectors of the population in this tough economy, African-Americans are by far the hardest-hit demographic. Nationally, black unemployment reached 16.7 percent last month — the highest level since 1984 — even as the jobless rate for whites fell to 8 percent, according to the U.S. Labor Department." (via nj.com)
@nkroti10 "An African American is three times as likely as a white person to be unemployed in Louisiana – and more than twice as likely in Alabama, New York, Mississippi, and Texas." (via epi.org)
@nkroti10 The Racial Component of Unemployment in Alabama:
We are particularly concerned by some trends highlighted by EPI’s statistics – growing
unemployment rates with a disproportionate effect on Alabama’s African American
population. During the current recession, the unemployment rate for Black Alabamians has increased from 5.3 percent to 15.1 percent, which is 9.3 percentage points higher than the rate for White Alabamians. (via epi.org)
How is it that I now understand more about the financial crisis from watching this than I ever have done watching an interview with an investment banker?
@Mrwilwak fair enough some people are like that... some people want more in life, more for humanity, more for our world... I intend to gain as much resources as I can, and give back to those who need them, and of course keep some for my self.
@Mrwilwak yea but most people cant afford to do that, but more people should be doing that. you guys need more agricultural and industrial production for your economy to become sustainable. for example look at the german economy or even the irish economy has changed itself recently and started growing even in the situation its in. all because less people are trying to get jobs that we dont need (businessmen and lawyers), instead more farmers and people in producation or scienctic discovery...
@Mrwilwak cause it means worse living standards for everyone, btw most of the debt is especially from the americans is owed to the chinese... its all politics in the end. whats ur government gonna do say "we arent going to pay our bills, we will let ur financial system collapse"... who knows what it will come down to and what will happen, but it probably would be better to work on a more regulated system, also work against becoming such a service based economy. you need to make stuff!!
@Mrwilwak btw if Germany wouldnt have been forced into such severe economic measures(not comparable with Greece or US at the moment) then theres no chance Hitler would have risen to power. lol I still have a 10 million marks note from back then. If the US or Greek governments dont work together and impose temporary austerity measures to pay off the debt, hyperinflation could be around the corner. Its not necessarily the banking system that needs to change, its more the governments(regulate!!!)
@Mrwilwak hmmm I hope you understand why that happened. it definitly wasnt because of the banks, well it kind of was because of the american banks(wall street crash) and the treaty of versailles. that really had nothing to do with interest rates at all, it had to do with the reperations that Germany had to pay for "causing" WW1. the hyperinflation that Germany went through was a direct cause of irresponsible banking in the US, and irrational judgement by Lloyed George and Clemenceau
@Mrwilwak that doesnt happen where I live, and in the bank I worked for. Yea loans are given out to people who can pay them back if their financial situation remains the same, but some banks(mainly ones in the economies which are failing right now) lent irresponsibly. and repo doesnt happen in most developed countries.... like I said STOP GENERALIZING. not every banker works for a US bank!!!!
@Mrwilwak naaaah in Germany people didnt borrow and lend irresponsibly, we dont have a financial crisis(our economy is booming) because people buy what they can afford, banks mainly make their money through many small loans and business loans instead of making most of their business out of subprime debt. stop generalizing!!!
@Mrwilwak im definitly talking to a 12 year old, or someone who cant read. doctor/banker=service sector. besides doctors rip people off with the prices they charge, 50 euro for a check up, exploiting insurance companies.... You still havent told me why banks should lend money to people who might not be able to pay it back...
@Mrwilwak yea in a Russel Group uni, and it was boring as fuck. u think because you spend your life studying statistics lol that your better than me hahaha
@Mrwilwak I must be such an evil bastard because I spent half a year in the Kalahri desert building a school for kids. You dont know me, and Id say the person who generalizes and thinks that everyone from one group of people is evil, is in fact the evil one
@Mrwilwak close to half in banking, other half either doctors or something else... Its called the service sector, its all around you... I feel like Im talking to a retard or a 12 year old
@Mrwilwak i spent a semester studying statistics in uni, im not going to discuss one of the more boring parts of my studies, and yes you are a leftist, maybe I am part of the elite, I dont honestly care, your just generalizing and think money should be given away for free because you believe everyone can pay it back dont you... notice how you didnt answer any of my questions, just got pissed off and wrote a bunch of irrelevant shit under a video. go see a doctor!
@Mrwilwak BTW just cause ur brothers in banking, and probably works at the reception, doesnt make u knowledgable about banking at all. half my family(also extended) is in banking, all of them in banks which are going strong now, you just got a tunnel vision and the past with the present mixed up....
@Mrwilwak nah ur a leftist with no clue. i also understand statistics and can plot all of that crap on DDXL as well, since when does that mean ur an expert on banking. everything you wrote, like 4 long commmnts LOL, you think you know everything about banking hahaha, most of what you wrote doesnt even have to do with banking(especially todays system...) its got to do with banking(maybe a little with fractional reserve though) still what gives you the right to condemm the whole system???
@Mrwilwak whatever, society has developed in such a way that money lending is required, how the hell do you think businesses are supposed to open. hows that man supposed to buy that car or house he cant afford??? what should be used to cover the risk that he goes bankrupt and/or umemployed and cant pay it back.... and since when did money even exist in ancient times? maybe that guy should sell his daughter to marriage for that house??? i think you are just very ignorant and dont think rationally
Hello, Ill teach you how I earn some money making youtube videos. Search for some royalty free music or sounds. Upload those to megaupload or something. Then join bee4biz (Google it) and lock your download link. Start making videos showcasing your free downloads and post protected download links in video description. bee4biz pays when people complete a free survey to unlock your download link. They pay via moneybookers or PayPal weekly.
Good day, I will tell how I make some money protecting links and youtube. Find some royalty free tunes. Upload those to megaupload or something. Then sign up with bee4biz (you can simply Google it) and use them to protect your download link. Start making videos showcasing your free downloads and post protected download links in video description. bee4biz pays when people complete a free survey to unlock your download link. They pay weekly and via Pyapal or moneybookers
Good day, I can teach you how I make a lot of easy money making youtube videos. Search for royalty free music. Upload those to megaupload or something. Then join bee4biz (just Google it) and protect your download link. Make a video advertising your royalty free download and post protected download link in description. bee4biz pays when people complete a free survey to unlock your download link. They pay via moneybookers or PayPal weekly.
@Mrwilwak my dad works from 9-6 almost everyday, in intend to do the same. i dont consider people who work hard to earn a lot as criminals. i think your very ignorant toward the banking system, and your image of it is completely skewed by leftist propaganda. if your put someone in charge of a couple million dollars, shouldnt he earn money and be compensated well. american bankers didnt do their job and shouldnt have earned what they did and received bonuses. stop generalizing all bankers!
@Mrwilwak most bankers arent like this. In Germany and many other countries which are leaders in finance and banking have enough regulation in them which prevents this from happening. You guys are the ones who elect these leaders as presidents. The obscenely wealthy isnt even true. Im starting work in banking and will be earning around 40k. My dads in banking his entire life and has been quite succesful, his salary is now 150k. This is the standard for 98% of banker Id say.
@Mrwilwak the bigger picture is that shit only happened in some countries like america, because people were beeing irresponsible spenders. you guys would pay off your credit card debts by buying other credit cards. i feel sorry for the little guy in the end. but there are a lot of people who created the market for this irresponsible spending, and someone should have stopped it. here in Germany we have loads of banks but that shit just doesnt happen because the people prevent it from happening!
@Mrwilwak btw Im not trying to say that the people who got their mortgages are more responsible than the bankers. im saying that some responsiblilty has to be shared by the people. here in germany people RENT if they cant afford their house. these subprime mortgages usually meant people would be paying them off till they retire or die.... u know it was irresponsible to take out a mortgages that is higher than 5x your annual income. people need to see the big picture before they make judements
@Mrwilwak i do blame the financiers, but the thing is a lot of them are highly educated in management not finance and economics, which is why they made stupid fucking choices. i suggest you watch quants alchemists of wall street if you wanna see what I mean.
Do people know bankers who talk like this? How do they justify their behavior? Do they worry about the rising anger of people? Do their neighbours still like them?
ALL government jobs are welfare - by practical functional definition.
Poor people have every fucking RIGHT to call welfare and food stamps INCOME.
Fucking freeloading pieces of shit who "work" at the DEA, FBI, and NSA taking away people's freedoms do no good for the country, yet they get handed ENORMOUS welfare out tax dollars.
This crap would not have happened had the stupid subhuman 99% of Americans elected Ralph Nader - a selfless truly patriotic American hero - as President in 1996 and again in 2000. He would have smashed open the Republicrat-Demopub gov't-media dictatorship to multiple political parties.
completely RACIST! I AM OUTRAGED THAT PEOPLE IN 2011 STILL FIND IT FUNNY TO JOKE ABOUT THE UNEMPLOYMENT STATISTICS OF MINORITIES THAT HAVE BEEN CAUSED BY THE WHITE MAN!
@Dazza3500 This recording was made pre-financial crisis (2007), not in 2011. It was amazingly prophetic. It actually saw the devastation that was about to happen months before the public realised it. At the time, people laughed at it because they hadn't seen the writing on the wall (unlike Bird & Fortune). People had no idea what was round the corner and were not yet affected by unemployment and huge the loss of personal investments.
The subprime mortgage crisis is considered one of the greatest transfers of wealth in history. The people who had their homes foreclosed also lost their initial down payments, which ended up going into the pockets of the bankers. The "have nots" continue to become poorer while the elites continue to profit off the working man's burden.
@IamNotaThreat Yes, it has been one of the greatest transfers of wealth. However, you can argue that Main Street was offered more capital availability than ever and many homeowners chose to live luxurious today instead of tomorrow. For those who flipped properties and invested, they thought they can make quick money. Real Estate markets have always been cyclical...its almost as if these homeowners have not ever seen 1 real estate market variation before...
@IamNotaThreat More like socialist charlatans manipulating the market for their own sordid ends, tehn blaming the lot on the people they've victimized. Meanwhile government "servants" and their allies become fabulously wealthy while the people they are supposed to serve become impoverished.
Dark UK Comedy with a hint of mint!. These are our first few videos, check them out and let us know what you think ( you could even subscribe if you fancied it)
Socialism need time to complete from communism. Who don't want to spend all life to see that heaven. They will like to live in capitalism. Can't say anything. But at least communism will not take your house, your life, and your work. Because it need people to make up, not money. Just work and your property will large up. If you want to have a good life now. You will lost anything if crisis held. That is the natural balance.
I have always Loved Brit Comedy. The Brits bring comedy so close to true life that it stops being a "joke" and becomes something that one must laugh at the World instead of crying. Truth - like Wikileaks - is Truth. And if we can't laugh or even accept it - then we have to cry. And crying does nothing for the facial muscles. Laughing exercises more muscles in a moment that an exercise regiment does in hours. Laugh and the world laughs with you. Cry - and you cry alone.
If the Glass-Steagal act were still in place (put in place after the first great depression to prevent banks from being involved in risky investments) this crisis would never have happened.
Fabulous Briliant Utube!! You can actually learn something if you have not been in the business. This is the BEST explanation yet..makes it real. Just my opinion but I do believe government is NOT the reason the problem is NO regulation. Human being are gluttons...in EVERYTHING and the market is NO difference. Children need a parent it's as simple as that.
I listened to Robert's Kiyosaki's advice. He said with regards to silver: "I believe this is the biggest investment anyone can make in the next 100yrs" I did my research and found an opportunity that has changed my life in 12 months. Take a look like i did.... visit: goldsave.co
Despite the general racist undertones of this video--the automatic assumption that a black man is one of the people who "can't afford" a mortgage granted to him (e.g., "an unemployed black man sitting on a crumbling porch somewhere in Alabama in his string vest") --I find this to be quite comical--in it's playful mockery of the market and it's overpayed employees-- as well as informative.
FREDDIE AND FANNIE used to double check references to ensure that what happened couldn't happen. Mortgages will ALWAYS have some percentage of default and foreclosure, but itu sed to be very small. For what has recently happened, we have no one to blame but the DE-REGULATING REPUBLICANS, and ALAN GREENSPAN'S FEDERAL RESERVE.
Greenspan gave credit to any and everyone. Teeanagers walking around with $15,000 in credit cards. They drove up credit spending after 911 in fear we'd hoarde it.
The disbelief in this world today is causing us not to believe in anything, possibly not even in ourselves as we are told that 'some are too big too fail or prosecute' and that we have to pay (BAIL OUT) their obscene actions. We need a new concept in law for these thieves, and that is an 'Obscenity Law' that will demonstrate and prove these CEO's and Board Members have acted and created obscene high risk (thievery) situations (to create OBSCENE profits + bonuses) for which they are liable.
@jaguarclaw - and so was pre-Nazi Germany. In fact it was known as hyperinflation .. it resulted in a desperate situation that Hitler was able to take advantage of. Think it cannot happen again? Think again.
Unrevealed 21st Century Well Organized Financial Crime
Promod Haque, he is a brutal man, a ruthless man, a man who butchers all small investors life and saving’s money to secure his own power as “No. 1 Deal Make Rated in the world”
“Yipes [Chapter 11 filings] are scandalous!” Promod Haque, Peter Morris and Keith Geeslin, they were very greedy, they controlled the company, well organized to push the Yipes company for bankruptcy, wiped off all small investors capital and for their own benefits.
Oddly enough, a mathematical technique recently invented for drug design research could be used to build analytical models of the markets from numerical data. These analytical models could be used to stabilize the markets so that something like this would never happen again. Check out the page Evolution of Mathematical Expressions from Numerical Data Sets.
Just Cause Two has ingested every last neat portion of a game, and packed it straight into the greatest game ever before! If you actually want to play it for free rather than having to pay money for it, only visit to JC2DownloadXcom (replace X with . ) .
@dslcobra yes and now the hyper power that was America is going to be playing seound phildel to P.R.C and India i am not anti America but this is the shape of things to come i have visted china and india and seen it with my own eyes and it all happend while bush was in power to my knowlege bush jr
...since President Obama's first state of the union address two days ago was solely confined to healthcare with no mention of his previously stated ambition of getting out of Iraq we feel it is necassary to fire up the old international GRASS ROOTS peace movement again and try and ask the new president nicely, one more time
hope you can join in?
"peace is more than the absence of war" - Kate Tempest
Liberal idiocy, not just Wall Street, played a huge role in this crisis...do you know what liberal queers were doing in the US? Pressuring banks to give home loans to people on welfare!!!!!!!!!!! That's right, people too poor to provide their own food were getting houses. "Prodded by Federal laws and an aggressive community-action group called Acorn, banks here and in other cities across the country have started making mortgage loans in neighborhoods they have traditionally avoided."
"Fees are lowered and lending standards allow even welfare payments and food stamps to be counted as income."
Fading Red Line, NY Times, March 14,1992 back in the days when this was being hailed as a great achievement, saddling poor people with loans they couldn't repay. Was supposed to help minorities, guess who was hit hardest by the mortage crisis...yah you guessed it.
No one pressure the bank to do anything. The banks loan the money because they can make a lot of money, which they did. Although the banks gone broke afterwards, the people in the bank that made money kept the money.
Yes, they did, and it's chronicled above in the NY times article. The vermin at ACORN calling banks racist that didn't give out loans to poor people, and eventually getting them to count welfare and food stamps as income?!!!! No one on either of those programs could possibly be considered for a home loan. Liberal idiocy gone amok. You're not being kind when you push for a huge home loan to someone who can't pay it back.
welll actually u have to realize that all of this is true. the commentary in this video is exactly what happens on wall street and the very same in London and Switzerland. its just actually quite funny how true all this really is. if your a banker you find it hillerious for this very reason. annd it is!
why you got down rated I dont know, but you are spot on. and then people whine about capitalism and how it doesnt work and how they need more government to fix it. its government that messed things up in the first place!
@undefinedego Western Capitalism & more to the point the Fractional Reserve Banking system it operates does work - but what people fail to realise is what it was INTENDED to do. It was designed primarily as a wealth generator for the small minority in charge of most of the wealth. Any function it has as a system of exchange is secondary - the fact that it impoverishes the majority who use it is an unfortunate but inescapable side issue.
@undefinedego It was government that ruined it by not having enough regulations to control the greed inherent in the system. They are living in gated communities and have jobs while you and I struggle because of their unethical behaviour.
@kadathdreamques I disagree. It was too much regulation. The big wigs danced around the inherently dumb regulation to their advantage - free market would never have allowed "unqualified" consumers with mortgages they didn't deserve.
@Codex7777 Not sure you understand free market and laissez faire - Too much bad regulation allowed unqualified buyers. On the same token, it allowed fat cats to maneuver the system effectively for their own gain.
@LeemanBrothaz The 'free' market does not tend towards equilibrium. It tends towards monopoly and boom and bust. Thats' before we even mention exploitation, huge income differentials (one of the most significant factors in causing social unrest), concentration of capital with a tiny elite etc. etc. Trickle down economics isn't even accepted theoretically nowadays and in practice it's never worked.
@Codex7777 There is no "black and white" solution here. Too much laissez-faire allows monopolization as u pointed out. Too much regulation creates BAD regulation because regulators simply cannot be trusted. What's the answer? The Golden Mean. As monetary framework, we need a natural market with minimal regulation. Govt spending and Keynesian econ is important when necessary. However, now we have a Govt that believes in too much regulation and too much equality when it hasn't even been earned!
@kadathdreamques isnt it unethical to buy something you can never afford? isnt it unethical to not be aware of your financial situation when making long term possibly life-time investments....nahh just kidding the government encouraged all of this property ownership bullshit. look at germany. the economy is booming and most people rent property. you poor people need to take some responsiblity for buying things you cant afford, but on the whole the government is to blame for lacking regulation.
@undefinedego Messing what up? the complete control of society by money hungry tw@s? Tell us what great things would come of unregulated banking and business, please, we are eager to hear. Governments fail at preventing it because they have been corrupted but what they are SUPPOSED to do is protect the many against the greedy few. Look at the kind of living conditions that were around during the industrial revolution when industry was left to its own devices.
@undefinedego your logic, sir, is completely flawed. The theoretical span of capitalism does not have an equivalent base in objective reality. Hence do we come to the point where external influences are a necessity in order to sustain a theoretical implementation of capitalism to objective reality. SOMETHING THAT IS NEVER ACCOMPLISHED BY CAPITALISM ITSELF OR ALONE, but only by government or other systems. The degree is subject to discussion, not whether it is necessary. Please educate yourself.
liberals? You realize the reason the financial sector went with this crazy scheme is because such risk taking could prove profitable. It has nothing to do with the political left or right. Its pure business. You could just as easily blame the political right who have consistently pushed for less regulation, to let businesses do as they wish. Indeed the neo-liberalism which has championed the laissez faire economy is a product of the right.
nomis, I'm glad to blame Wall Streeters for being greedy to an extent, I believe even without govt pressure to give huge home loans to people who couldn't pay them back, we would have seen a economic downturn in the 7-8% unemployment range. The reason why it was 10% instead was because of The Community Reinvestment Act used as blackmail under threat of lawsuits to pressure banks to give out loans to people far below the lowest standard banks ever had. At some point risk outweighs reward.
tristram, that they're financial vehicles for spreading the risk from mortgages that they're based on...and when stupid govt policy is to pressure banks to give out mortgages to people that don't qualify, you're going to have more mortgages than usual go bankrupt and consequently more damage done to banks who've staked a lot of their wealth on these securities
would you say the bankers and hedge fund managers selling those credit default swaps as triple AAA rated securities perhaps indicates a systemic problem on wall street that goes FAR deeper than poor people and govt mandates to loan?
Also, could you discuss the incentive structure on wall street and how that helps to increase risk?
Thanks
I know the right is desperately trying to blame EVERYTHING on govt and poor people- but they have to- otherwise, they have to blame banks- and that's a no no
I would say Wall Street deserves blame but that the US would be in a 7-8% unemployment situation without the idiotic govt policy of giving huge home loans to people who couldn't afford them and were in some cases on welfare. Instead it's 10%.
Govt always gets away with murder, Wall Street's always a convenient target. They deserve blame, so does govt. How about no more loans ever for anyone who doesn't qualify according to market standards and shoot anyone who says otherwise?
well tristram, I've watched some Rambo movies recently and it does appear violence is the answer, 'least when small-town sheriffs or Commies are involved
It's just amusing (and alarming) that at a time when the republic just got royally sodomized by the financial sector on wall street- millions of middle class and poor americans (who watch fox entertainment channel and mistake it for news) are worried about the communist threat.
This is how corporate media distorts and destroys society.
I think you are missing the point about what made wall st as dynamic as it is today. The history of US finance is about banks integrating working and poor people into financial markets. Its true of early farmers as it is of the rust belt laid off workers who maintain their living standards by using credits and borrowing against mortgages. Sure people took on debts they couldnt afford - wall st took on debt they couldnt afford either. The US Tres is old bankers not poor people.
@JP2times2007 I don't agree, we broke the records for all time home ownership in the 2000's so we had more than ever before. Pre 1970, home loans were based on ability to repay and creditworthiness, not misguided sympathy for people who didn't qualify.
I don't know if there's any good way to set up a charity to help people buy homes, too lengthy time to repay, and too big of a loan
I'm sorry- I just read your post above and you are NOT a blind right wing ideologue who is spewing the right wing talking points: that the crisis was 100% the fault of govt and poor people.
On a completely unrelated note:
Have you read the complete essays of Michelle de Montaigne?
It's probably the dingle greatest collection of wisdom ever assembled by one human.
@nomis101uk "JUST as easily"? ALL the blame is on rightwing free-market extremist conservatives.
Republicrats and Demopubs cave into all the conservative demands of corporate welfare, unlimited CEO and bankster salaries and bonuses for doing nothing at best and stealing at worst.
Had Greens, Socialists, and Communists made laws, they would have outlawed salary and power inequities in all levels of government and corporations. EVERYone working at a corp or bank would have equal say.
unfortunately the investment banking continues exactly as it has been before with banks spending millions on lobbyism and bonuses on sketchy transactions. The people must force the governments to establish new rules which can regulate a market which has been driven out of control of companies which are too big to fail.
people would have had to realize that the opinion of a thing signifies choose between right and wrong opinion and when you learn to choose correctly and not to act as bulk reactions of people who chose wrong, simply learn to choose a good opinion and according to it once and not just watch.
Capitalism will never fail because socialism will bail it out. Bush et al destroyed the financial system in the US 4th quarter of 2008. They could have simply raised interest rates in order to burst the bubble in 2003 -2004.
FUC-K AMERICAN SYSTEM AND AMERICAN RATING AGENCS (RICH GROUPS)
BLUESKYBLUE1990 3 weeks ago
i'd buy anything with enhanced :)
better than to say "unemployed black man in the street" fund, is't it ...
could't have said better ! ! !
VigenToT 1 month ago in playlist Favorite videos
still vital and on the table
VigenToT 1 month ago in playlist Favorite videos
Learning laughing!
MrWilliePost 1 month ago
This has been flagged as spam show
Hi
Please visit and share:
pledgie.com/campaigns/16387
We can be the 99%
Thank you
WeCanBe99 1 month ago
I wish all the German bankers would jump out the window now! 22/11/11, maybe they'll land in Athens?
davehowellman 2 months ago
Now this! This epic! Huge fan!
paouvous 2 months ago in playlist Favorite videos
Is there an owl in the audience?
WJVMooney 2 months ago
@theparsonsman, really? a concatenation of rogue traders name Jerome Kerviel and Nick Leeson using Barings' error account 88888. Not that difficult to figure out. In fact I feel my IQ just dropped a little posting this.
271204tr 2 months ago
Hilarious, clever, rapier-sharp, acerbic, and brilliant.
xxxchrist1 3 months ago
I love the username, real genius and I bet inly 1 in ten thousand people will get it and its relevance.
theparsonsman 3 months ago
what did he have to use "BLACK MAN " ....
nkroti10 3 months ago
@nkroti10 GO AWAY.
xxxchrist1 3 months ago
Well, because that was who he was talking about...a black man in a string vest sitting on a porch in Alabama... a fairly common sight, hence the immediate understanding of the reference....are you offended? For yourself? On behalf of the string-vested black man?
BigEarthBooks 2 months ago
@BigEarthBooks It is actually because he is playing a stupid narrow minded white banker. It is the kind of thing one of those idiots would say.
m1leswilliams 2 months ago
@nkroti10 He is playing an idiotic white banker. It is the kind of stupid thing one of them would use. Chill out, it is British comedy and therefore hard for the US brain.
m1leswilliams 2 months ago
@nkroti10 "While high unemployment is affecting all sectors of the population in this tough economy, African-Americans are by far the hardest-hit demographic. Nationally, black unemployment reached 16.7 percent last month — the highest level since 1984 — even as the jobless rate for whites fell to 8 percent, according to the U.S. Labor Department." (via nj.com)
DonBobyTV 2 weeks ago
@nkroti10 "An African American is three times as likely as a white person to be unemployed in Louisiana – and more than twice as likely in Alabama, New York, Mississippi, and Texas." (via epi.org)
DonBobyTV 2 weeks ago
@nkroti10 The Racial Component of Unemployment in Alabama:
We are particularly concerned by some trends highlighted by EPI’s statistics – growing
unemployment rates with a disproportionate effect on Alabama’s African American
population. During the current recession, the unemployment rate for Black Alabamians has increased from 5.3 percent to 15.1 percent, which is 9.3 percentage points higher than the rate for White Alabamians. (via epi.org)
DonBobyTV 2 weeks ago
@nkroti10
Furthermore, the unemployment rate for Blacks in Alabama is above the national average by 7.1 percentage points.
(epi.org)
DonBobyTV 2 weeks ago
This is going into my playlist. Comedy section.
If only it weren't true.
Kurtlane 3 months ago
How is it that I now understand more about the financial crisis from watching this than I ever have done watching an interview with an investment banker?
isarya6249 4 months ago
@isarya6249, well, because investment banker won't tell you the truth, i.e. "I, as your investment banker, have royally f-ed up."
And these guys just said it.
Kurtlane 3 months ago
Does anybody know the series El C.I.D. with John Bird? And where I can find it or download it? Thanks.
1a1a2s3d4f5g 4 months ago
TERRIFIC ! ! !
VigenToT 4 months ago
:(
tlast2O12dude 4 months ago
BEST SONG TO EXPLAIN MONEY CRISIS. (FINANCIAL CRASH TEST DUMMIES) YOU TUBE CHECK IT OUT.
CeeMill74 6 months ago
@Mrwilwak fair enough some people are like that... some people want more in life, more for humanity, more for our world... I intend to gain as much resources as I can, and give back to those who need them, and of course keep some for my self.
chillercm 6 months ago
@Mrwilwak yea but most people cant afford to do that, but more people should be doing that. you guys need more agricultural and industrial production for your economy to become sustainable. for example look at the german economy or even the irish economy has changed itself recently and started growing even in the situation its in. all because less people are trying to get jobs that we dont need (businessmen and lawyers), instead more farmers and people in producation or scienctic discovery...
chillercm 6 months ago
@Mrwilwak cause it means worse living standards for everyone, btw most of the debt is especially from the americans is owed to the chinese... its all politics in the end. whats ur government gonna do say "we arent going to pay our bills, we will let ur financial system collapse"... who knows what it will come down to and what will happen, but it probably would be better to work on a more regulated system, also work against becoming such a service based economy. you need to make stuff!!
chillercm 6 months ago
@Mrwilwak btw if Germany wouldnt have been forced into such severe economic measures(not comparable with Greece or US at the moment) then theres no chance Hitler would have risen to power. lol I still have a 10 million marks note from back then. If the US or Greek governments dont work together and impose temporary austerity measures to pay off the debt, hyperinflation could be around the corner. Its not necessarily the banking system that needs to change, its more the governments(regulate!!!)
chillercm 6 months ago
@Mrwilwak hmmm I hope you understand why that happened. it definitly wasnt because of the banks, well it kind of was because of the american banks(wall street crash) and the treaty of versailles. that really had nothing to do with interest rates at all, it had to do with the reperations that Germany had to pay for "causing" WW1. the hyperinflation that Germany went through was a direct cause of irresponsible banking in the US, and irrational judgement by Lloyed George and Clemenceau
chillercm 6 months ago
@Mrwilwak that doesnt happen where I live, and in the bank I worked for. Yea loans are given out to people who can pay them back if their financial situation remains the same, but some banks(mainly ones in the economies which are failing right now) lent irresponsibly. and repo doesnt happen in most developed countries.... like I said STOP GENERALIZING. not every banker works for a US bank!!!!
chillercm 6 months ago
Comment removed
chillercm 6 months ago
@Mrwilwak naaaah in Germany people didnt borrow and lend irresponsibly, we dont have a financial crisis(our economy is booming) because people buy what they can afford, banks mainly make their money through many small loans and business loans instead of making most of their business out of subprime debt. stop generalizing!!!
chillercm 6 months ago
@Mrwilwak im definitly talking to a 12 year old, or someone who cant read. doctor/banker=service sector. besides doctors rip people off with the prices they charge, 50 euro for a check up, exploiting insurance companies.... You still havent told me why banks should lend money to people who might not be able to pay it back...
chillercm 6 months ago
@Mrwilwak yea in a Russel Group uni, and it was boring as fuck. u think because you spend your life studying statistics lol that your better than me hahaha
chillercm 6 months ago
@Mrwilwak I must be such an evil bastard because I spent half a year in the Kalahri desert building a school for kids. You dont know me, and Id say the person who generalizes and thinks that everyone from one group of people is evil, is in fact the evil one
chillercm 6 months ago
@Mrwilwak close to half in banking, other half either doctors or something else... Its called the service sector, its all around you... I feel like Im talking to a retard or a 12 year old
chillercm 6 months ago
@Mrwilwak i spent a semester studying statistics in uni, im not going to discuss one of the more boring parts of my studies, and yes you are a leftist, maybe I am part of the elite, I dont honestly care, your just generalizing and think money should be given away for free because you believe everyone can pay it back dont you... notice how you didnt answer any of my questions, just got pissed off and wrote a bunch of irrelevant shit under a video. go see a doctor!
chillercm 6 months ago
@Mrwilwak BTW just cause ur brothers in banking, and probably works at the reception, doesnt make u knowledgable about banking at all. half my family(also extended) is in banking, all of them in banks which are going strong now, you just got a tunnel vision and the past with the present mixed up....
chillercm 6 months ago
@Mrwilwak nah ur a leftist with no clue. i also understand statistics and can plot all of that crap on DDXL as well, since when does that mean ur an expert on banking. everything you wrote, like 4 long commmnts LOL, you think you know everything about banking hahaha, most of what you wrote doesnt even have to do with banking(especially todays system...) its got to do with banking(maybe a little with fractional reserve though) still what gives you the right to condemm the whole system???
chillercm 6 months ago
@Mrwilwak whatever, society has developed in such a way that money lending is required, how the hell do you think businesses are supposed to open. hows that man supposed to buy that car or house he cant afford??? what should be used to cover the risk that he goes bankrupt and/or umemployed and cant pay it back.... and since when did money even exist in ancient times? maybe that guy should sell his daughter to marriage for that house??? i think you are just very ignorant and dont think rationally
chillercm 6 months ago
Hello, Ill teach you how I earn some money making youtube videos. Search for some royalty free music or sounds. Upload those to megaupload or something. Then join bee4biz (Google it) and lock your download link. Start making videos showcasing your free downloads and post protected download links in video description. bee4biz pays when people complete a free survey to unlock your download link. They pay via moneybookers or PayPal weekly.
atmhoque1 7 months ago
Good day, I will tell how I make some money protecting links and youtube. Find some royalty free tunes. Upload those to megaupload or something. Then sign up with bee4biz (you can simply Google it) and use them to protect your download link. Start making videos showcasing your free downloads and post protected download links in video description. bee4biz pays when people complete a free survey to unlock your download link. They pay weekly and via Pyapal or moneybookers
Chandgee100 7 months ago
Good day, I can teach you how I make a lot of easy money making youtube videos. Search for royalty free music. Upload those to megaupload or something. Then join bee4biz (just Google it) and protect your download link. Make a video advertising your royalty free download and post protected download link in description. bee4biz pays when people complete a free survey to unlock your download link. They pay via moneybookers or PayPal weekly.
2009sanwar 7 months ago
@Mrwilwak my dad works from 9-6 almost everyday, in intend to do the same. i dont consider people who work hard to earn a lot as criminals. i think your very ignorant toward the banking system, and your image of it is completely skewed by leftist propaganda. if your put someone in charge of a couple million dollars, shouldnt he earn money and be compensated well. american bankers didnt do their job and shouldnt have earned what they did and received bonuses. stop generalizing all bankers!
chillercm 7 months ago
@Mrwilwak most bankers arent like this. In Germany and many other countries which are leaders in finance and banking have enough regulation in them which prevents this from happening. You guys are the ones who elect these leaders as presidents. The obscenely wealthy isnt even true. Im starting work in banking and will be earning around 40k. My dads in banking his entire life and has been quite succesful, his salary is now 150k. This is the standard for 98% of banker Id say.
chillercm 7 months ago
@Mrwilwak the bigger picture is that shit only happened in some countries like america, because people were beeing irresponsible spenders. you guys would pay off your credit card debts by buying other credit cards. i feel sorry for the little guy in the end. but there are a lot of people who created the market for this irresponsible spending, and someone should have stopped it. here in Germany we have loads of banks but that shit just doesnt happen because the people prevent it from happening!
chillercm 7 months ago
@Mrwilwak btw Im not trying to say that the people who got their mortgages are more responsible than the bankers. im saying that some responsiblilty has to be shared by the people. here in germany people RENT if they cant afford their house. these subprime mortgages usually meant people would be paying them off till they retire or die.... u know it was irresponsible to take out a mortgages that is higher than 5x your annual income. people need to see the big picture before they make judements
chillercm 7 months ago
@Mrwilwak i do blame the financiers, but the thing is a lot of them are highly educated in management not finance and economics, which is why they made stupid fucking choices. i suggest you watch quants alchemists of wall street if you wanna see what I mean.
chillercm 7 months ago
Do people know bankers who talk like this? How do they justify their behavior? Do they worry about the rising anger of people? Do their neighbours still like them?
ColtraneTaylor 7 months ago
ALL government jobs are welfare - by practical functional definition.
Poor people have every fucking RIGHT to call welfare and food stamps INCOME.
Fucking freeloading pieces of shit who "work" at the DEA, FBI, and NSA taking away people's freedoms do no good for the country, yet they get handed ENORMOUS welfare out tax dollars.
mphello 7 months ago
This crap would not have happened had the stupid subhuman 99% of Americans elected Ralph Nader - a selfless truly patriotic American hero - as President in 1996 and again in 2000. He would have smashed open the Republicrat-Demopub gov't-media dictatorship to multiple political parties.
mphello 7 months ago
completely RACIST! I AM OUTRAGED THAT PEOPLE IN 2011 STILL FIND IT FUNNY TO JOKE ABOUT THE UNEMPLOYMENT STATISTICS OF MINORITIES THAT HAVE BEEN CAUSED BY THE WHITE MAN!
Dazza3500 7 months ago
@Dazza3500 you are one stupid SOB. This is political satire at its best. If you don't get it just STFU
tripaz23122012 7 months ago
@Dazza3500 you are one stupid SOB. This is political satire at its best. Where is there any racism in this ??? If you don't get it just STFU
tripaz23122012 7 months ago
@Dazza3500 This recording was made pre-financial crisis (2007), not in 2011. It was amazingly prophetic. It actually saw the devastation that was about to happen months before the public realised it. At the time, people laughed at it because they hadn't seen the writing on the wall (unlike Bird & Fortune). People had no idea what was round the corner and were not yet affected by unemployment and huge the loss of personal investments.
einekleineblues 7 months ago
This has been flagged as spam show
I suggest the best long&short term investment for you all to be rich ,
just visit my channel.
pmasteria 8 months ago
The subprime mortgage crisis is considered one of the greatest transfers of wealth in history. The people who had their homes foreclosed also lost their initial down payments, which ended up going into the pockets of the bankers. The "have nots" continue to become poorer while the elites continue to profit off the working man's burden.
IamNotaThreat 9 months ago 12
@IamNotaThreat Yes, it has been one of the greatest transfers of wealth. However, you can argue that Main Street was offered more capital availability than ever and many homeowners chose to live luxurious today instead of tomorrow. For those who flipped properties and invested, they thought they can make quick money. Real Estate markets have always been cyclical...its almost as if these homeowners have not ever seen 1 real estate market variation before...
LeemanBrothaz 8 months ago
@IamNotaThreat
I hope you realize how enormously wrong your account is of the past financial crisis.
Justbeatit999 5 months ago
This has been flagged as spam show
@IamNotaThreat
The only part you are correct on is the "greatest transfers of wealth in history" part.
toddclemmer 3 months ago
Is the stock market a modern weapon of genocide?
Is it possible?
Serrokot 11 months ago
@Serrokot I wouldn't necessarily say it's the stock market, but rather capitalism seeded with corruption and greed.
IamNotaThreat 9 months ago 2
@IamNotaThreat More like socialist charlatans manipulating the market for their own sordid ends, tehn blaming the lot on the people they've victimized. Meanwhile government "servants" and their allies become fabulously wealthy while the people they are supposed to serve become impoverished.
DrCruel 9 months ago
28 Wall Street traders don't like this, they've been found out obviously!
AMRPK 11 months ago 2
Brilliant comedians,
YouBloodyFool 11 months ago
Very good skit! Thanks for uploading.
21stox 1 year ago
This has been flagged as spam show
Dark UK Comedy with a hint of mint!. These are our first few videos, check them out and let us know what you think ( you could even subscribe if you fancied it)
wonderdogger 1 year ago
In my humble opinion, the British comedians are the best!!
AlbertKamiya 1 year ago 24
This has been flagged as spam show
Socialism need time to complete from communism. Who don't want to spend all life to see that heaven. They will like to live in capitalism. Can't say anything. But at least communism will not take your house, your life, and your work. Because it need people to make up, not money. Just work and your property will large up. If you want to have a good life now. You will lost anything if crisis held. That is the natural balance.
hungdirect 1 year ago
I wish they'd get that owl out of the studio
gbushimprov 1 year ago
the crisis does not exist ! ! !
watch?v=9GzOXvCsDaU
MAXEYFUN 1 year ago
This has been flagged as spam show
Take her to your door step Naughty women here mworld5.info
LUCILEANA 1 year ago
This has been flagged as spam show
Срочно нужны деньги?
Кредит 17%. М МО. Без справок и поручителей. Консалтинг 25%. Другие варианты. (495)2200660 2200660@mail.ru
tiblon1 1 year ago
I have always Loved Brit Comedy. The Brits bring comedy so close to true life that it stops being a "joke" and becomes something that one must laugh at the World instead of crying. Truth - like Wikileaks - is Truth. And if we can't laugh or even accept it - then we have to cry. And crying does nothing for the facial muscles. Laughing exercises more muscles in a moment that an exercise regiment does in hours. Laugh and the world laughs with you. Cry - and you cry alone.
Richard Lewis USA
resculptit 1 year ago
This has been flagged as spam show
If the Glass-Steagal act were still in place (put in place after the first great depression to prevent banks from being involved in risky investments) this crisis would never have happened.
artmancheno 1 year ago
This is priceless. Hilarious. These guys should get a Nobel Prize for Economics. They're absolutely brilliant! Rule, Britannia!
viriatoist 1 year ago 2
Fabulous Briliant Utube!! You can actually learn something if you have not been in the business. This is the BEST explanation yet..makes it real. Just my opinion but I do believe government is NOT the reason the problem is NO regulation. Human being are gluttons...in EVERYTHING and the market is NO difference. Children need a parent it's as simple as that.
natalierosen 1 year ago
@natalierosen sounds more like Big Brother
ITILII 1 year ago
Lol good stuff.
TheNabsta 1 year ago
This has been flagged as spam show
Try asian women *lushfmlk.info*
Baronsfsdf 1 year ago
This has been flagged as spam show
I listened to Robert's Kiyosaki's advice. He said with regards to silver: "I believe this is the biggest investment anyone can make in the next 100yrs" I did my research and found an opportunity that has changed my life in 12 months. Take a look like i did.... visit: goldsave.co
ManufactureBelief 1 year ago
Comment removed
ManufactureBelief 1 year ago
Why the fuck is the crowd laughing, I don't find these issues funny
werunthesestreets 1 year ago
@werunthesestreets It's a comedy show mocking different people like bankers, politicians and government. It's not like PM Questions.
busbybrit58 1 year ago
@werunthesestreets It is called SATIRE. People are laughing at the fact that it is in a way - true.
tobyruncorn2 1 year ago
Very thought-out sketch
KamiKaZantA 1 year ago
Despite the general racist undertones of this video--the automatic assumption that a black man is one of the people who "can't afford" a mortgage granted to him (e.g., "an unemployed black man sitting on a crumbling porch somewhere in Alabama in his string vest") --I find this to be quite comical--in it's playful mockery of the market and it's overpayed employees-- as well as informative.
suamiguel 1 year ago
FREDDIE AND FANNIE used to double check references to ensure that what happened couldn't happen. Mortgages will ALWAYS have some percentage of default and foreclosure, but itu sed to be very small. For what has recently happened, we have no one to blame but the DE-REGULATING REPUBLICANS, and ALAN GREENSPAN'S FEDERAL RESERVE.
Greenspan gave credit to any and everyone. Teeanagers walking around with $15,000 in credit cards. They drove up credit spending after 911 in fear we'd hoarde it.
dslcobra 1 year ago 2
IS IT 2012 YET ????
smoothoiler 1 year ago
The disbelief in this world today is causing us not to believe in anything, possibly not even in ourselves as we are told that 'some are too big too fail or prosecute' and that we have to pay (BAIL OUT) their obscene actions. We need a new concept in law for these thieves, and that is an 'Obscenity Law' that will demonstrate and prove these CEO's and Board Members have acted and created obscene high risk (thievery) situations (to create OBSCENE profits + bonuses) for which they are liable.
REOcanada3 1 year ago 2
@jaguarclaw - and so was pre-Nazi Germany. In fact it was known as hyperinflation .. it resulted in a desperate situation that Hitler was able to take advantage of. Think it cannot happen again? Think again.
jgehb 1 year ago
@jaguarclaw You should know that the free market Ron Paul talkes about, the governments number 1 role is preventing and fighting fraud in the market.
Gold standard gives the security than the government cant print money. And create inflation.
roger767 1 year ago
This has been flagged as spam show
Moscow: Responsibility of the GLOBAL FINANCIAL CRISIS is Russian. Recognition on "shevchenkoTV".
shevchenkoTV 1 year ago
Mmmmm,
mmuhyes yes
LoggerMcKnocker 1 year ago
This has been flagged as spam show
Unrevealed 21st Century Well Organized Financial Crime
Promod Haque, he is a brutal man, a ruthless man, a man who butchers all small investors life and saving’s money to secure his own power as “No. 1 Deal Make Rated in the world”
“Yipes [Chapter 11 filings] are scandalous!” Promod Haque, Peter Morris and Keith Geeslin, they were very greedy, they controlled the company, well organized to push the Yipes company for bankruptcy, wiped off all small investors capital and for their own benefits.
wallstreet2001 1 year ago
And the saying is still true..."Be nat wrooth, my lord, though that I pleye. Ful ofte in game a sooth [truth] I have herd seye!" c 1390 Chaucer
lkgeiger56 1 year ago
This has been flagged as spam show
abrarclub(.)blogspot(.)com
kaabaa84 1 year ago
hahah hilarious and still educational!
MayzeSigSzalay 1 year ago 2
This has been flagged as spam show
Oddly enough, a mathematical technique recently invented for drug design research could be used to build analytical models of the markets from numerical data. These analytical models could be used to stabilize the markets so that something like this would never happen again. Check out the page Evolution of Mathematical Expressions from Numerical Data Sets.
bonnarj7 1 year ago
@Megamotzer .
absolutely!
marestrum 1 year ago
Funny! For more humorous, yet good, financial advice, check my site. "The Hedge Song"
dlowrey3333 1 year ago
This has been flagged as spam show
no Risk investment program,check it out!
edwinforex[dot]com
edvinforex 1 year ago
This has been flagged as spam show
Just Cause Two has ingested every last neat portion of a game, and packed it straight into the greatest game ever before! If you actually want to play it for free rather than having to pay money for it, only visit to JC2DownloadXcom (replace X with . ) .
Emo94black 1 year ago
"very sharp & sophisticated ppll, very intelligent" lol
Weltgeist13 1 year ago
@dslcobra yes and now the hyper power that was America is going to be playing seound phildel to P.R.C and India i am not anti America but this is the shape of things to come i have visted china and india and seen it with my own eyes and it all happend while bush was in power to my knowlege bush jr
ducksoup2007 1 year ago
Search for
"MARC FABER MADNESS"
eliasmouawad 1 year ago
ahahahaha
illdawg1234 1 year ago
Solami pirates say they are subsidiaries of Goldman Sach
bilaczenko 1 year ago
looooooooooooooool hahahaha comedians expecting the financial global crisis!
farforathreem 1 year ago 2
funny
themagicofcoupons 1 year ago
this is different
themagicofcoupons 1 year ago
These guys are brilliant! Have they done new stuff more recently?
kibk8al 1 year ago
Comment removed
KatherineSmithECT 1 year ago
Interestingly, two years later and nothing has really changed. How sad indeed.
KatherineSmithECT 1 year ago
Right at 7:18, there's a split-second picture of a man in his office staring at his laptop. Anyone else see this?
lago4 1 year ago
@lago4 Yes I did... very strange- I think it's John Bird, but why would they put it there? I suppose its just a very boring subliminal message...
simmondsa 10 months ago
Watch my video. It will blow your mind away!
fridaysabtu 2 years ago
no comedy required, the truth alone is ridiculous enough
robtherub 2 years ago 2
Hurts so bad you gotta laugh!
TheQuasiTonto 2 years ago 2
This has been flagged as spam show
...since President Obama's first state of the union address two days ago was solely confined to healthcare with no mention of his previously stated ambition of getting out of Iraq we feel it is necassary to fire up the old international GRASS ROOTS peace movement again and try and ask the new president nicely, one more time
hope you can join in?
"peace is more than the absence of war" - Kate Tempest
victory is certain, we only have to try
TrollCatcher2010 2 years ago
Dirk 'Mister Dax' Mueller has written a book about the crisis explaining that it was just a plan of USA.
Ixtzalit 2 years ago
FUCKING HELARIOUS ..GOOD ON YOU!
danielsidhom1 2 years ago
I am so confused about this topic, but the faces are hillarious.
musicstories 2 years ago
In UK, Scotish cabinet helping scotish banks. You couldn't make up such a story, could you?
markwessex 2 years ago
Search for US DEBT FORMULA
eliasmouawad 2 years ago
Liberal idiocy, not just Wall Street, played a huge role in this crisis...do you know what liberal queers were doing in the US? Pressuring banks to give home loans to people on welfare!!!!!!!!!!! That's right, people too poor to provide their own food were getting houses. "Prodded by Federal laws and an aggressive community-action group called Acorn, banks here and in other cities across the country have started making mortgage loans in neighborhoods they have traditionally avoided."
RuflessRecords 2 years ago
"Fees are lowered and lending standards allow even welfare payments and food stamps to be counted as income."
Fading Red Line, NY Times, March 14,1992 back in the days when this was being hailed as a great achievement, saddling poor people with loans they couldn't repay. Was supposed to help minorities, guess who was hit hardest by the mortage crisis...yah you guessed it.
RuflessRecords 2 years ago 10
No one pressure the bank to do anything. The banks loan the money because they can make a lot of money, which they did. Although the banks gone broke afterwards, the people in the bank that made money kept the money.
mannotwiththeplan 2 years ago
Yes, they did, and it's chronicled above in the NY times article. The vermin at ACORN calling banks racist that didn't give out loans to poor people, and eventually getting them to count welfare and food stamps as income?!!!! No one on either of those programs could possibly be considered for a home loan. Liberal idiocy gone amok. You're not being kind when you push for a huge home loan to someone who can't pay it back.
RuflessRecords 2 years ago 2
welll actually u have to realize that all of this is true. the commentary in this video is exactly what happens on wall street and the very same in London and Switzerland. its just actually quite funny how true all this really is. if your a banker you find it hillerious for this very reason. annd it is!
BijiApoCheHugoChavez 2 years ago
why you got down rated I dont know, but you are spot on. and then people whine about capitalism and how it doesnt work and how they need more government to fix it. its government that messed things up in the first place!
undefinedego 2 years ago 2
hear hear
RuflessRecords 2 years ago 3
@undefinedego Western Capitalism & more to the point the Fractional Reserve Banking system it operates does work - but what people fail to realise is what it was INTENDED to do. It was designed primarily as a wealth generator for the small minority in charge of most of the wealth. Any function it has as a system of exchange is secondary - the fact that it impoverishes the majority who use it is an unfortunate but inescapable side issue.
ginganz13 1 year ago
@undefinedego It was government that ruined it by not having enough regulations to control the greed inherent in the system. They are living in gated communities and have jobs while you and I struggle because of their unethical behaviour.
kadathdreamques 1 year ago 13
@kadathdreamques Unfortunately the government regulations regulated away the oversight of derivatives.
practicalwhacktical 9 months ago
@kadathdreamques I disagree. It was too much regulation. The big wigs danced around the inherently dumb regulation to their advantage - free market would never have allowed "unqualified" consumers with mortgages they didn't deserve.
"Greed is Good"
LeemanBrothaz 9 months ago
@LeemanBrothaz You really are living in cloud cuckoo land, aren't you? lol
Codex7777 8 months ago
@Codex7777 Not sure you understand free market and laissez faire - Too much bad regulation allowed unqualified buyers. On the same token, it allowed fat cats to maneuver the system effectively for their own gain.
LeemanBrothaz 8 months ago
@LeemanBrothaz The 'free' market does not tend towards equilibrium. It tends towards monopoly and boom and bust. Thats' before we even mention exploitation, huge income differentials (one of the most significant factors in causing social unrest), concentration of capital with a tiny elite etc. etc. Trickle down economics isn't even accepted theoretically nowadays and in practice it's never worked.
Codex7777 8 months ago
@Codex7777 There is no "black and white" solution here. Too much laissez-faire allows monopolization as u pointed out. Too much regulation creates BAD regulation because regulators simply cannot be trusted. What's the answer? The Golden Mean. As monetary framework, we need a natural market with minimal regulation. Govt spending and Keynesian econ is important when necessary. However, now we have a Govt that believes in too much regulation and too much equality when it hasn't even been earned!
LeemanBrothaz 8 months ago
@kadathdreamques isnt it unethical to buy something you can never afford? isnt it unethical to not be aware of your financial situation when making long term possibly life-time investments....nahh just kidding the government encouraged all of this property ownership bullshit. look at germany. the economy is booming and most people rent property. you poor people need to take some responsiblity for buying things you cant afford, but on the whole the government is to blame for lacking regulation.
chillercm 7 months ago
@undefinedego Messing what up? the complete control of society by money hungry tw@s? Tell us what great things would come of unregulated banking and business, please, we are eager to hear. Governments fail at preventing it because they have been corrupted but what they are SUPPOSED to do is protect the many against the greedy few. Look at the kind of living conditions that were around during the industrial revolution when industry was left to its own devices.
hobogasm 1 year ago
@undefinedego
Government failed to regulate the banks, yes!
MrAchilles1984 1 year ago
@undefinedego your logic, sir, is completely flawed. The theoretical span of capitalism does not have an equivalent base in objective reality. Hence do we come to the point where external influences are a necessity in order to sustain a theoretical implementation of capitalism to objective reality. SOMETHING THAT IS NEVER ACCOMPLISHED BY CAPITALISM ITSELF OR ALONE, but only by government or other systems. The degree is subject to discussion, not whether it is necessary. Please educate yourself.
Keygeneratormusic 1 year ago 2
@RuflessRecords
liberals? You realize the reason the financial sector went with this crazy scheme is because such risk taking could prove profitable. It has nothing to do with the political left or right. Its pure business. You could just as easily blame the political right who have consistently pushed for less regulation, to let businesses do as they wish. Indeed the neo-liberalism which has championed the laissez faire economy is a product of the right.
nomis101uk 1 year ago
nomis, I'm glad to blame Wall Streeters for being greedy to an extent, I believe even without govt pressure to give huge home loans to people who couldn't pay them back, we would have seen a economic downturn in the 7-8% unemployment range. The reason why it was 10% instead was because of The Community Reinvestment Act used as blackmail under threat of lawsuits to pressure banks to give out loans to people far below the lowest standard banks ever had. At some point risk outweighs reward.
RuflessRecords 1 year ago
What do you know about credit default swaps and derivatives?
tristramshandy3 1 year ago
tristram, that they're financial vehicles for spreading the risk from mortgages that they're based on...and when stupid govt policy is to pressure banks to give out mortgages to people that don't qualify, you're going to have more mortgages than usual go bankrupt and consequently more damage done to banks who've staked a lot of their wealth on these securities
RuflessRecords 1 year ago
would you say the bankers and hedge fund managers selling those credit default swaps as triple AAA rated securities perhaps indicates a systemic problem on wall street that goes FAR deeper than poor people and govt mandates to loan?
Also, could you discuss the incentive structure on wall street and how that helps to increase risk?
Thanks
I know the right is desperately trying to blame EVERYTHING on govt and poor people- but they have to- otherwise, they have to blame banks- and that's a no no
tristramshandy3 1 year ago
I would say Wall Street deserves blame but that the US would be in a 7-8% unemployment situation without the idiotic govt policy of giving huge home loans to people who couldn't afford them and were in some cases on welfare. Instead it's 10%.
Govt always gets away with murder, Wall Street's always a convenient target. They deserve blame, so does govt. How about no more loans ever for anyone who doesn't qualify according to market standards and shoot anyone who says otherwise?
RuflessRecords 1 year ago
I think it works the other way around- wall street always gets away with murder, and govt is a convenient target :)
How much did Goldman Sachs and bank of America make this year?
How wonderful.
How about we burn wall street to the ground and grow our own fucking food- of course, shooting anyone who says otherwise.
LOL.
This is fun!
tristramshandy3 1 year ago
well tristram, I've watched some Rambo movies recently and it does appear violence is the answer, 'least when small-town sheriffs or Commies are involved
RuflessRecords 1 year ago
bankers aren't commies- they are greedy capitalists- and THEY are the largest threat to our republic today.
On some level- I know you can see that.
But hey, if you want to travel back to the 50's and yell at the red menace, go right ahead.
Goldman Sachs should send you a fucking thank you card though
:)
tristramshandy3 1 year ago
shouldn't have used the word Commies, you're very sensitive about it
yah Goldman Sachs promised me free overdraft charges for 3 months if I posted this...
when I add that to the oil barrels I get in the mail from Exxon, I basically have it made
RuflessRecords 1 year ago
It's just amusing (and alarming) that at a time when the republic just got royally sodomized by the financial sector on wall street- millions of middle class and poor americans (who watch fox entertainment channel and mistake it for news) are worried about the communist threat.
This is how corporate media distorts and destroys society.
Have a nice day.
tristramshandy3 1 year ago
@RuflessRecords
I think you are missing the point about what made wall st as dynamic as it is today. The history of US finance is about banks integrating working and poor people into financial markets. Its true of early farmers as it is of the rust belt laid off workers who maintain their living standards by using credits and borrowing against mortgages. Sure people took on debts they couldnt afford - wall st took on debt they couldnt afford either. The US Tres is old bankers not poor people.
JP2times2007 1 year ago 2
@JP2times2007 I don't agree, we broke the records for all time home ownership in the 2000's so we had more than ever before. Pre 1970, home loans were based on ability to repay and creditworthiness, not misguided sympathy for people who didn't qualify.
I don't know if there's any good way to set up a charity to help people buy homes, too lengthy time to repay, and too big of a loan
RuflessRecords 1 year ago
I'm sorry- I just read your post above and you are NOT a blind right wing ideologue who is spewing the right wing talking points: that the crisis was 100% the fault of govt and poor people.
On a completely unrelated note:
Have you read the complete essays of Michelle de Montaigne?
It's probably the dingle greatest collection of wisdom ever assembled by one human.
tristramshandy3 1 year ago
@nomis101uk "JUST as easily"? ALL the blame is on rightwing free-market extremist conservatives.
Republicrats and Demopubs cave into all the conservative demands of corporate welfare, unlimited CEO and bankster salaries and bonuses for doing nothing at best and stealing at worst.
Had Greens, Socialists, and Communists made laws, they would have outlawed salary and power inequities in all levels of government and corporations. EVERYone working at a corp or bank would have equal say.
mphello 7 months ago
cant seem to find a guy who isnt a coward
SexxyyAmber88 2 years ago
what kind of loser says et al on youtube cameron6136
dannners 2 years ago
unfortunately the investment banking continues exactly as it has been before with banks spending millions on lobbyism and bonuses on sketchy transactions. The people must force the governments to establish new rules which can regulate a market which has been driven out of control of companies which are too big to fail.
ooholycowoo 2 years ago
Everything these guys joked about unfolded exactly as they had predicted.
mathieuhelie 2 years ago
door to bad people are completely enclosed so that we had in 50 years there will be quite better for all:)
antilower 2 years ago
This has been flagged as spam show
people would have had to realize that the opinion of a thing signifies choose between right and wrong opinion and when you learn to choose correctly and not to act as bulk reactions of people who chose wrong, simply learn to choose a good opinion and according to it once and not just watch.
After this financial crisis:)
antilower 2 years ago
Capitalism will never fail because socialism will bail it out. Bush et al destroyed the financial system in the US 4th quarter of 2008. They could have simply raised interest rates in order to burst the bubble in 2003 -2004.
cameron6136 2 years ago
been looking for this for ages i watched this the first time around 2006/7 , and yep i seen it coming too... nice post :)
stelamo 2 years ago
This has been flagged as spam show
AWESOME VIDEO, u mind chekin mines? THANX
sajcrew 2 years ago
This has been flagged as spam show
our friend has went missin, no joke, we have issued a support video, spread the word, thanx
sajcrew 2 years ago