Subprime Loans Whats Not Being Talked About
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i saw this earlier:
Financial Derivatives: What are They? - Housing Bubble Collapse - Unregulated Insurance
(i tried to link but no deal. not sure why youtube would cut off it's own url.... anyway...)
you answered a lot of my questions. it really does look like a lot of people were set up. thanks.
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you hit it right on....as long as the bankers are as greedy as they are, nothing will get better.
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It is what kind of intention U.S.A. submits the world to fraud in such a hokum, and not to do both the apology and the compensation! The U.S. Government take responsibility!
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rrrrrrrrrrrrrr
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The federal reserve kept interests low, so the banks went crazy on leverage and bought a crapload of CDO's made from insolvant mortgages. They basically played hot potatoe around and then the market simply went under correction ; which meant the houses to drop down in value. People either defaulted or abandonned their homes, banks stopped receiving their yields and eventually collapsed.
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I don't think you addressed how banks were sued and forced to lend to poor lendees, but claimed race. Also the bad regulation from the Enron scandle. Banks are not able to count these loans to be worth anthing(zero). When in fact they are worth something like say >30%. So their balance sheets look really bad.
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thank u 4 clearing-up some confusion i had about subprime mess. i was wondering if subprime lending started carter admin and changed during the clinton admin to make it even easier 4 low income people. then the result should have been gradual instead of this avalanche we in today. something within a shorter period of time had to trigger the failure of so many morgage.
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Nice vid! You should post this as a response to this one:
Burning Down The House: What Caused Our Economic Crisis?
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Once lending criteria was relaxed shortly after the collapse of long term capital management[LTCM] ,it was inevitable that rapid house price inflation DUE TO SUDDEN INCREASED DEMAND would ensue until that demand was satisfied through market processes now happening
Many purchasers on ARM 's realised that as long as house prices rose debtors remained "solvent" and they could refinance with greater loans every couple of years ,effectively rolling up interest payments and living "rent" free
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You are so right!!And you know there are other loan products out there that will be causing more problems and it will not be with subprime but with the prime market place. You have seen the advts for borrow 500,000 for only 1,000 per month...Watch what happens with them..
Let me know what you think...
wealth12 4 years ago