View Poll Results: What Created The 2008 Financial Meltdown?

Voters
109. You may not vote on this poll
  • Greedy Wall Street Investment Bankers /Deregulation of the financial Industry

    37 33.94%
  • Barney Frank, Chris Dodd and the CRA

    32 29.36%
  • Poor people buying houses they can’t afford

    27 24.77%
  • Other

    13 11.93%
Page 2 of 12 FirstFirst 1234 ... LastLast
Results 11 to 20 of 117

Thread: What Created The 2008 Financial Meltdown?

  1. #11
    Sage
    pbrauer's Avatar
    Join Date
    Jun 2010
    Location
    Oregon
    Last Seen
    11-27-15 @ 03:31 PM
    Gender
    Lean
    Liberal
    Posts
    25,394

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by apdst View Post
    A person making $2,000 a month has no business taking out a loan with a $1,000 a month note, which is what happened in many cases. At some point, the people who took out loans they knew they couldn't afford must take at least a little responsibility for their actions.
    Can you back these ridiculous claims up with any evidence? Why would a lender lend money to someone who can't pay them back?


  2. #12
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Gipper View Post
    Glass-Steagall gets crucified in this because too many people want to shirk responsibility involved in this. The true crime existed when regulations allowed for high-risk ventures to essentially be compensated when they would fail. If a business tried to bust coffers with derivatives and risky money market tools, the government would just recoup losses. That never should have come to be.
    If the GS Act had still been in place, banks could flat out not have used people's mortgages and pensions to speculate with. It is why it was enacted in the first place following the same practices that brought about the great stock market crash in 1929.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  3. #13
    Student
    Join Date
    Oct 2011
    Last Seen
    10-26-11 @ 11:02 PM
    Gender
    Lean
    Independent
    Posts
    171

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Catawba View Post
    If the GS Act had still been in place, banks could flat out not have used people's mortgages and pensions to speculate with. It is why it was enacted in the first place following the same practices that brought about the great stock market crash in 1929.
    This reminds me of 2007 when we were talking about the great depression and my teacher predicted this whole crisis lmao.

  4. #14
    Sage
    pbrauer's Avatar
    Join Date
    Jun 2010
    Location
    Oregon
    Last Seen
    11-27-15 @ 03:31 PM
    Gender
    Lean
    Liberal
    Posts
    25,394

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by StillBallin75 View Post
    The second option makes no sense, as Dodd-Frank was signed into law two years after the meltdown. Who honestly blames the financial meltdown on Dodd-Frank?
    We have at least one person taking the second option and I suspect many more will emerge. I put that option there because there are phony stories out there that tries makes this case.


  5. #15
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 08:52 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,465

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by pbrauer View Post
    Can you back these ridiculous claims up with any evidence? Why would a lender lend money to someone who can't pay them back?
    Because the government threatened them with prosecution, if they didn't! As has been presented to you numerous times.

    A school bus driver has no business with a $800,000 home loan. That's just nuts!

    The fault for this lies with the lady who took out this loan.

    Does she accept responsibility for her bad judgement? Ohhhhhh, nooooooo, she demands that the governmetn bail her stupid ass out.

    Michelle Malkin » Hey, lady, your $800,000 house is NOT my problem
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  6. #16
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by A.Pearce View Post
    This reminds me of 2007 when we were talking about the great depression and my teacher predicted this whole crisis lmao.
    As the philosopher, George Santayana said, "Those who cannot remember the past, are condemned to repeat it."
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  7. #17
    Banned
    Join Date
    Feb 2008
    Location
    Theoretical Physics Lab
    Last Seen
    01-06-15 @ 11:06 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    25,120

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Catawba
    If the GS Act had still been in place, banks could flat out not have used people's mortgages and pensions to speculate with. It is why it was enacted in the first place following the same practices that brought about the great stock market crash in 1929.
    Translation: Since some people...scratch that...since most people are stupid, we have to give overwhelming power to government to act as daddy, slapping people's hands and shouting "no!" when they do something ridiculous?

    Ah hell, that's just great. Our problem isn't stupidity - it's that we subsidize it. Making an example of these fools would be a powerful learning tool for the next crop of economically ignorant folk who have dollar-green dreams and lack the education to realize them. If it wasn't for people like that, Las Vegas would be a watering hole and pass-through truck stop.

    We need to tell these homeless people to put out signs saying "Will work for food because I took out a loan I knew I couldn't pay back".

  8. #18
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 08:52 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,465

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by StillBallin75 View Post
    The second option makes no sense, as Dodd-Frank was signed into law two years after the meltdown. Who honestly blames the financial meltdown on Dodd-Frank?
    Actually it makes perfect sense, because Chris Dodd and Barney Frank were ram-rodding Fannie and Freddie and kept insisting that everything was just fine; that there was no impending crisis.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  9. #19
    Sage
    Harry Guerrilla's Avatar
    Join Date
    Dec 2008
    Location
    Not affiliated with other libertarians.
    Last Seen
    09-01-17 @ 02:38 PM
    Gender
    Lean
    Libertarian
    Posts
    28,955

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by pbrauer View Post
    Can you back these ridiculous claims up with any evidence? Why would a lender lend money to someone who can't pay them back?
    They were called stated income loans, aka liar loans.
    Many of them were done by fly by night lenders, who then sold the loans off.

    Stated income loan - Wikipedia, the free encyclopedia
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  10. #20
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Yesterday @ 08:52 PM
    Gender
    Lean
    Very Conservative
    Posts
    76,465

    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Gipper View Post
    Translation: Since some people...scratch that...since most people are stupid, we have to give overwhelming power to government to act as daddy, slapping people's hands and shouting "no!" when they do something ridiculous?

    Ah hell, that's just great. Our problem isn't stupidity - it's that we subsidize it. Making an example of these fools would be a powerful learning tool for the next crop of economically ignorant folk who have dollar-green dreams and lack the education to realize them. If it wasn't for people like that, Las Vegas would be a watering hole and pass-through truck stop.

    We need to tell these homeless people to put out signs saying "Will work for food because I took out a loan I knew I couldn't pay back".
    We have to do that, so the commies can't take over. Ohh..wait...
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

Page 2 of 12 FirstFirst 1234 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •