View Poll Results: What Created The 2008 Financial Meltdown?

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  • 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%
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Thread: What Created The 2008 Financial Meltdown?

  1. #31
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    cpwill's Avatar
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Harry Guerrilla View Post
    Some in the finance business, some in the regulation arms of government and some (at all income levels) American families.
    Plenty of blame to go around.
    eh. i'm open to criticisms of an easy money policy making it all possible.

  2. #32
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by cpwill View Post
    eh. i'm open to criticisms of an easy money policy making it all possible.
    Combination of artificially low interest rates and lax fraud enforcement for the gov.
    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

  3. #33
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Harry Guerrilla View Post
    Some in the finance business, some in the regulation arms of government and some (at all income levels) American families.
    Plenty of blame to go around.
    Most of the blame belongs to the borrowers and the government.
    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.

  4. #34
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    Re: What Created The 2008 Financial Meltdown?

    i just wish they all crashed like they were supposed too...maw..mawhaha! :3



  5. #35
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Catawba View Post
    I already explained what it was here, before you joined the conversation, but do tell us what your understanding is of the Glass-Steagall Act?
    I understand that Glass Steagall was passed in 1932 and not 1933 and it had nothing to do with the collapse of 1933. I know that much about, anyway.

    Might wanna step down from your high-horse.
    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. #36
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by jasonxe View Post
    i just wish they all crashed like they were supposed too...maw..mawhaha! :3
    The congress critters weren't going to let that happen. The bankers would have released all kinds of docs showing how the government pressured them into making all those bad loans.
    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.

  7. #37
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by apdst View Post
    I understand that Glass Steagall was passed in 1932 and not 1933 and it had nothing to do with the collapse of 1933. I know that much about, anyway.

    Might wanna step down from your high-horse.
    "The first Glass-Steagall Act of 1932 was enacted in an effort to stop deflation, and expanded the Federal Reserve's ability to offer rediscounts on more types of assets, such as government bonds as well as commercial paper.[4] The second Glass–Steagall Act (the Banking Act of 1933) was a reaction to the collapse of a large portion of the American commercial banking system in early 1933. Literature in economics usually refers to this latter act simply as the Glass–Steagall Act, since it had a stronger impact on US banking regulation."

    "The act introduced the separation of the bank types according to their business (commercial and investment banking), and it founded the Federal Deposit Insurance Corporation (FDIC) for insuring bank deposits."

    Glass
    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

  8. #38
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by apdst View Post
    The congress critters weren't going to let that happen. The bankers would have released all kinds of docs showing how the government pressured them into making all those bad loans.
    Safest place to keep your money now is Bank of America. Govt won't let it fall or will reimburse your money if it does:-D Reserve darwinism ftw!

    Quote Originally Posted by Catawba View Post
    "The first Glass-Steagall Act of 1932 was enacted in an effort to stop deflation, and expanded the Federal Reserve's ability to offer rediscounts on more types of assets, such as government bonds as well as commercial paper.[4] The second Glass–Steagall Act (the Banking Act of 1933) was a reaction to the collapse of a large portion of the American commercial banking system in early 1933. Literature in economics usually refers to this latter act simply as the Glass–Steagall Act, since it had a stronger impact on US banking regulation."

    "The act introduced the separation of the bank types according to their business (commercial and investment banking), and it founded the Federal Deposit Insurance Corporation (FDIC) for insuring bank deposits."

    Glass
    I..can't concentrate on what you're saying. Every time you mention Steagall, all i can think of is this dude.

    What Created The 2008 Financial Meltdown?-129071791633154700-jpg



  9. #39
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by apdst View Post
    Most of the blame belongs to the borrowers and the government.
    I disagree, the businesses knew that they needed to keep a higher level of liquidity and they didn't do that.
    That doesn't mean I exclusively blame them though.

    Like I said before, there is plenty of blame to go around.
    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. #40
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    Re: What Created The 2008 Financial Meltdown?

    Quote Originally Posted by Harry Guerrilla View Post
    I disagree, the businesses knew that they needed to keep a higher level of liquidity and they didn't do that.
    That doesn't mean I exclusively blame them though.

    Like I said before, there is plenty of blame to go around.
    That's why Fannie and Freddie were created, as a place for banks to ditch all those bad loans. The government created every bit of the crap.
    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.

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