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Tom Woods - Child Labor
Professor Woods explains the dynamics of child labor. http://www.LibertyPen.com
3,074 views
capemh said:
Mostly they were caught up in the panic caused by the defaults in the private label MBS's which caused falling house prices and unemployment caused defaults, not because of the government insisting on the issuing of sub-prime mortgages. It was the unregulated private securitizers who were buying...
Tom Woods - Child Labor
Professor Woods explains the dynamics of child labor. http://www.LibertyPen.com
3,074 views
capemh said:
Whereas the GSEs guaranteed the performance of their MBS, private securitizers generally did not, and might only retain a thin slice of risk. Often, banks would offload this risk to insurance companies or other counterparties through credit default swaps, making their actual risk exposures extrem...
Tom Woods - Child Labor
Professor Woods explains the dynamics of child labor. http://www.LibertyPen.com
3,074 views
capemh said:
Freddie and Fannie also bought some Alt-A loans (these are loans to borrowers with good credit scores, but which are not as fully documented with respect to borrower income and assets as are prime loans) for their portfolios. They have lost money on these also. Despite their losses, their loss r...
Tom Woods - Child Labor
Professor Woods explains the dynamics of child labor. http://www.LibertyPen.com
3,074 views
capemh said:
For those of you who think that Freddie and Fannie were at fault for the banking crisis either a: you don't understand what actually happened or are lying. See the next posts...
Tom Woods - Child Labor
Professor Woods explains the dynamics of child labor. http://www.LibertyPen.com
3,074 views
capemh said:
Wouldn't "child-labor laws" decrease the available labor in the market thereby increasing the income of the remaining workers? Isn't that the law of supply and demand?
Isn't it in the interest of every employer to have a better educated and physically mature employee than an illiterate child?
S...
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