FInancial Crisis Debate (2 of 13) Niall Ferguson

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[Tsnore]

Nihilist Ferguson has neocon leanings.

[RedTyphoon1]

@ANTIDALLARD Watch he's other videos he has stated there's no such thing as an unregulated market. You need the right regulations - you need a balanced system. Watch his other videos before you criticize.

[theoriginalskytag]

He seems to willingly ignore the reality that even risky mortgages are not a problem as long as their risk is known. The subprime mortgage crisis was the result of concealing that risk by bundling them into securities falsely rated as triple-A securities when they clearly did not warrant that rating.

[theoriginalskytag]

@johnnydrysider Your assessment of what happened is not even remotely accurate. Freddy and Fannie most certainly did not start it; quite the opposite, in fact. The practice of selling risky mortgages by using them to back securities was a direct result of the fact that Fannie and Freddy would not buy those mortgages. The subprime mortgage crisis was created entirely by the private sector. Government only role was its failure to intervene and stop irresponsible behaviors.

[johnnydrysider]

@ANTIDALLARD So that's a load of bullshit cus you say so.. Sweet argument.. SOunds like you're deflecting the facts. The Banks were partly to blame, everyone is to blame.. But the system was set up by whom? deflect blame? What the hell has the government been doing? I believe that cus all that actually happened, where were you Peter Pan land you kid.. The real truth is "neo" government economics did it. you can call it liberal, conservative, it's all the same. They all follow Keynesian

[ANTIDALLARD]

@johnnydrysider That is a load of bullshit. YOU would like for people to believe that because it deflects blame. But the truth is, neo liberal economics has been a disaster, and has brought America and the west to the brink of collaps

[johnnydrysider]

@ANTIDALLARD The govt encouraged subprime loans.. Fannie and Freddy started it all and it was locked in by Bush. All because they wanted higher percentage of the people owning homes. Meaning... subsided housing.. Credit default swaps and derivatives followed ..Allowing people to get loans that shouldn't.. Canada didn't do any of that.. So the Banks there were unscathed..Housing percentage was gonna go up anyways, it just wasn't fast enough to buy more votes for the politicians..

[emangi1]

@bonfirejovi but at least the government is somewhat democratically accountable. In my opinion it's 100% better than what exists today.

[bonfirejovi]

@emangi1 It isn't contradicting. Explain how a Federal Reserve would exist in a free market? Government intervention.

[bonfirejovi]

@ANTIDALLARD The government caused it through easy money and low interest rates. Bubbles occur in markets even with symmetric information but bubbles this huge require assets prices to be way above their fundamental value and thanks to easy money and low interest rates it was. Who do you think supplied the leverage into the system?