Glenn Beck

[wawaweewa]

Originally Posted by gko2408

Originally Posted by wawaweewa

Originally Posted by nnarum

Originally Posted by RKO2004

Originally Posted by nnarum

A lot of TV "personalities" say things to get ratings. Obviously it's working.

If you watched and listened then you would know. Man you guys are so quick to say "pish posh" you don't even realize whats going on. And its been going on for years! People always doubt then when things come to past its no big deal. Keep sleepin. Its on you. You'll be the one to get that wake up call when its too late.

The reason the economy sucks is because there is too much debt. People that shouldn't have been given loans were given loans. It's not rocket science, and it doesn't help that our leaders in government have a spend first mentality pay later. I guess I should go back to making my tin foil hat...

Not quite.

The amount of subprime loans that were made that were defaulted on were in the vicinity of $400-600 billion.
However, the current problem today in the US is over $2 trillion in bad paper.

Do you see a disconnect there?

It's not as simple as " they were making bad loans to poorly qualified people". The problem we have today was created as a result of what the banks and investment houses did with those loans (securities, derivatives, ets.) not necessarily the loans themselves. If we only had to deal with the subprime loans than it wouldn't be that bad.

The media dn Feds yelling "subprime" at every opportunity is just more smoke and mirrors to obfuscate the real problem; derivatives created from all those loans.

A lot of it has to do with the credit default swaps which is, from what I understand, basically an insurance against those loans. It's a shame that subprime mortgage is what gets all the press because it's the easiest news to sell.

Basically. A CDS is a derivative.

iIt's not only that it's easier to sell the "subprime" line to the public but the blame is placed on, "folks who shouldn't havegotten the loans in the first place" rather than those who traded these derivatives and encouraged their use day in and day out while making TONS ofmoney.

 

[withapassion]

Originally Posted by wawaweewa

Originally Posted by nnarum

Originally Posted by RKO2004

Originally Posted by nnarum

A lot of TV "personalities" say things to get ratings. Obviously it's working.

If you watched and listened then you would know. Man you guys are so quick to say "pish posh" you don't even realize whats going on. And its been going on for years! People always doubt then when things come to past its no big deal. Keep sleepin. Its on you. You'll be the one to get that wake up call when its too late.

The reason the economy sucks is because there is too much debt. People that shouldn't have been given loans were given loans. It's not rocket science, and it doesn't help that our leaders in government have a spend first mentality pay later. I guess I should go back to making my tin foil hat...

Not quite.

The amount of subprime loans that were made that were defaulted on were in the vicinity of $400-600 billion.
However, the current problem today in the US is over $2 trillion in bad paper.

Do you see a disconnect there?

It's not as simple as " they were making bad loans to poorly qualified people". The problem we have today was created as a result of what the banks and investment houses did with those loans (securities, derivatives, ets.) not necessarily the loans themselves. If we only had to deal with the subprime loans than it wouldn't be that bad.

The media dn Feds yelling "subprime" at every opportunity is just more smoke and mirrors to obfuscate the real problem; derivatives created from all those loans.

been looking for this a long time. everyone pay attention history is being written as we live

 

[916kings]

Hes 50/50 with me.
Hes speaks the truth on some issues, but sounds like an ignoramus on others.

He is funny sometimes though. When Nancy Pelosi first became the speaker of the house, he was talking about how she didnt need to use a private jet:

"Who do you think you are? Jay-Z or Diddy? Girlfriend, you better check yourself before you reck yourself!"

He paused and said,

"I just realized how stupid I just sounded."

I was dying

But anyways, I didnt catch him tonight.