subprime derivatives
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@sha370z They're sub-prime so they generally didn't have good credit.
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how can you have good credit when loan is $780,000
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Try also reanalyzers com
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did anyone watch inside job?
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@evilclown99 I expect if you have a bunch of CDOs on your book and no one will buy them unless you are paying 30% you'd be quite fked as an investment bank.
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@tinarousseau I think you need to read what a Ponzi scheme is before making this inaccurate comparison
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How they hell does the yield on the BBB- go from 7.75% to 30% ? That's a gain not a loss. How is that a blow up?
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@greenback001 The law Clinton sign was The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999, (Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999 please tell me what party the sponsors of this law were? Gramm–Leach–Bliley. And how many democratic Senator's voted for it?
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@tinarousseau this is nothing like a ponzi scheme. you obviously know nothing about structured finance.
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disinfo piece. The MBS where never actually filled with anything. They are now being filled retroactively with non-performing mortages. That's why you have all the false paperwork with no on knowing who one's what. You can't own a "piece" of a promissory note unless it has multiple payees on it and still consider the note secured.
Silly little lairs. I like glieseman too but he's been duped or is a shill.
great explanation, however the key element missing was the fact that all of the lending started with the Federal Reserve, the top lender. Also missed was Clinton signing into legislation the law which enabled 2nd level lending institutions (i.e. Lehman Brothers) to begin investing in the same Securities they created, thus blowing the Derivative Market bubble to astronomical levels. Otherwise great stuff.
greenback001 3 years ago 11
Can anyone say ponzi sceme, that is exactly what this is everyone involved should be in same position as Madoff
tinarousseau 2 years ago 7