Crisis explainer
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Uploaded by AmericanPublicMedia on Oct 3, 2008
Marketplace Senior Editor Paddy Hirsch gives a bubbly explanation of the intricacies of collateralized debt obligations those financial instruments that got us into this financial mess.
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@cheesebone82 Maybe the magnitude of it was made more severe because of that, but the crisis would have still occurred none the less. The regulation must be in place. That's why it was there in the first place.
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BBBB? Must be a new super rating! XD
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thanks !
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who here is watching for FIN310?
2 months ago 2
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this guy is an alcoholic
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Where's Alan Greenspan, Reagan's lovechild, when you need him? He was responsible for the Glass-Seagal act being repealed. Those who think the capitalist system will take care of itself w/o a responsible government intervening
must also believe that it was Jesus himself that preached this 'gospel'. From 1980 forward these policies have led to one crisis after another, nothing being changed, and there are those that think different results will be forthcoming.
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Absolutely not, though. The deregulation is not the source of the problem.. the fact remains that these loans were created with money that was supplied by the Federal Reserve at ridiculously low, unrealistic interest rates. Absent the money supplied by the FED, than banks wouldn't have had the funds necessary to write all these mortgages in the first place, and the whole crisis would have been averted by itself. This problem was created by irresponsible monetary policy.
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so... what does every1 think about paul fiani?
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@DoBrigh Hey DoBrigh, amazing explanation!!! Thanks!!! And you're absolutely correct, the 'de-regulation' that started in the 80's is behind all of this mess
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Mmmm bubbly
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So instead of holding the responsible party liable we bail them out? Good plan US Govt.
goskone 3 years ago 6
The slick trick (crime ?) was the recalibration from BBB or even junk equity status to AAA status on being "re-bottled" in the second magnum.
Somebody should be in jail for that piece of fraud.
PaulNancyVan 3 years ago 5