Thomas Sowell on the Housing Boom and Bust
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Uploaded by HooverInstitution on Jul 2, 2009
Thomas Sowell discusses how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust.
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@derivativesarecool I second you there. I'm a community college sophomore, and all my professors would kill me if I cited "wikipedia" in an analytical paper.
AstroAntaAposAnarch 5 days ago
@AdamDLDixon Sorry, I trust an economist more than an encyclopedia that can be readily edited.
derivativesarecool 2 weeks ago
en( . )wikipedia( . )org/wiki/Causes_of_the_late-2000s_financial_crisis I trust Wikipedia more that Sowell, and the comment moderation is anti libertarian.
AdamDLDixon 3 weeks ago
@christo930
Get Sowell's Book "The Housing Boom in Bust". In the first chapter he lists the casts of characters.
The Federal Reserve System has a general authority to regulate banks across the country as well as specific powers to take actions which affect interest rates and the money supply. Given the great importance of the level on interest rates in the home mortgage markets, the Federal Reserve is a major player in that market....
legacyns1 1 month ago
VOTE RON PAUL 2012
A vote for Dr. Paul is a vote for yourself. He wants to limit gov intrusiveness in our lives & allow US to make our own choices. Stop politicians and the elites from thinking that they are so smart that they know how to run our lives better than we do. He is one of the few politicians that will make difficult decisions, he will balance the budget by his 2nd year, while other politicians plan to balance the budget after their term
LISTEN, UNDERSTAND, DECIDE. RON PAUL 2012
86austinc86 1 month ago
They're using a lot of words when they could just say the following:
The government forced banks to contradict the nature of banks by loaning money unwisely, but made it wise by creating Fannie May and Freddie Mac to shift the "risk" for those bad loans to the American people in contradiction of the purpose of the constitution, and that every oath-taking government official involved is guilty of treason. Visit thesaneparty d com and join the fight.
brazenhubris 2 months ago
@keithradamsstatus
I agree that mechanically there were many contributing factors, but they could have never converged in the way that they did without the normalizing of irresponsible lending practices in the housing industry brought about by certain social policies. Once this occurred, it opened the door to wealthy speculators and everything else.
imblessedso 3 months ago
I think the housing prices in parts of California have more to do with demand than anything else.
DawnOfTheDead991 3 months ago
@comptonproduction Ron Paul 2012
ftpwh33 3 months ago
@keithradamsstatus That and obscure financial instruments i.e. derivatives.
knelson6599 3 months ago