View Poll Results: cause of financialmeltdown

Voters
24. You may not vote on this poll
  • the cra

    3 12.50%
  • bill clintons deregulation

    7 29.17%
  • gwb's deregulation

    7 29.17%
  • the repeal of glass steagal

    8 33.33%
  • the community futures modernization act

    3 12.50%
  • corrupt politicians and ignorant masses

    14 58.33%
  • bipartisan acts towards failure

    3 12.50%
  • the chinese

    0 0%
  • other-explain

    8 33.33%
  • i really dont know/and/or care

    1 4.17%
Multiple Choice Poll.
Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: the real cause of the financial meltdown

  1. #1
    defected to kekistan
    beerftw's Avatar
    Join Date
    Nov 2011
    Location
    kekistan
    Last Seen
    12-13-17 @ 01:42 AM
    Gender
    Lean
    Socialist
    Posts
    13,376

    the real cause of the financial meltdown

    id simply like to know where people stand,as people become more educated on the matter their opinions seem to change
    Last edited by beerftw; 12-29-12 at 11:25 PM.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

  2. #2
    Gradualist

    Join Date
    Apr 2011
    Last Seen
    09-25-17 @ 12:48 PM
    Lean
    Socialist
    Posts
    34,949
    Blog Entries
    6

    Re: the real cause of the financial meltdown

    deregulation, corporatism, corruption, and the ups and downs of capitalism.


  3. #3
    Sage

    Join Date
    Oct 2011
    Last Seen
    07-25-17 @ 12:35 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    5,878

    Re: the real cause of the financial meltdown

    Most of the above + MBS's and CDS's, 'the bankers', etal.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

  4. #4
    Global Moderator
    Moderator
    Helix's Avatar
    Join Date
    Jul 2011
    Last Seen
    Today @ 10:20 PM
    Gender
    Lean
    Independent
    Posts
    37,119

    Re: the real cause of the financial meltdown

    income has stagnated for several decades, but easy credit masked the effects. when easy credit imploded, game over.

  5. #5
    Iconoclast
    DaveFagan's Avatar
    Join Date
    Mar 2011
    Location
    wny
    Last Seen
    Today @ 07:16 PM
    Lean
    Conservative
    Posts
    7,306

    Re: the real cause of the financial meltdown

    Stocks dropped. A lack of liquidity. No confidence in mortgages. No confidence in AIG being able to back defaults. Bank collaterals insufficient to maintain normal operations. As mortgage values plummeted, the bankers were trapped by Federal Reserve requirements. Couldn't make loans. Plummeting values of mortgage/real estate portfolios distressed many pension plans. There had been no investment by gov't in job development. Just wars on the credit card. Car business died. TARP built some new business and created some demand. We were really fortunate that we didn't have a 1930's style depression. The money printing presses have created a false sense of security. That'd be confidence, like a Confidence Game.

  6. #6
    defected to kekistan
    beerftw's Avatar
    Join Date
    Nov 2011
    Location
    kekistan
    Last Seen
    12-13-17 @ 01:42 AM
    Gender
    Lean
    Socialist
    Posts
    13,376

    Re: the real cause of the financial meltdown

    im surprised gwd deregulationgot2 votes,it was a trick there to see if people actually knew.bush added more regulations than he deregulated,and all bank deregulation happened under clinton and regan,not bush.

    the stupid trap works
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

  7. #7
    Discount Philosopher
    specklebang's Avatar
    Join Date
    Jan 2012
    Location
    Las Vegas
    Last Seen
    06-05-14 @ 08:26 PM
    Lean
    Other
    Posts
    11,524

    Re: the real cause of the financial meltdown

    Can I limit my blame of Bush to his not speaking up when even crappy little condos became "worth" $500K and leading America away from this irrational behavior. It resembled the Tulip craze.

    Maybe that's not the job of a President, but it should be.

    Other than that, there's so much blame to go around that it's hard to identify it all in retrospect.

  8. #8
    Global Moderator
    Truth will set you free
    digsbe's Avatar
    Join Date
    May 2009
    Location
    Metro Washington DC
    Last Seen
    Today @ 10:47 PM
    Gender
    Lean
    Other
    Posts
    18,990

    Re: the real cause of the financial meltdown

    The spending, both sides spend far too much and that's why we are in a financial meltdown and exceeding debt ceilings nearly every year.

    Edit: if you are discussing the financial meltdown in the economy that started off the recession I would say it was largely fueled by bad loans/investments.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
    Tired of elections being between the lesser of two evils.

  9. #9
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    Re: the real cause of the financial meltdown

    The repeal of G-S was the main culprit; there were a lot of factors in so many of them becoming too big to fail when they did, all at the same time, but G-S started the snowball rolling down the hill.

  10. #10
    defected to kekistan
    beerftw's Avatar
    Join Date
    Nov 2011
    Location
    kekistan
    Last Seen
    12-13-17 @ 01:42 AM
    Gender
    Lean
    Socialist
    Posts
    13,376

    Re: the real cause of the financial meltdown

    Quote Originally Posted by specklebang View Post
    Can I limit my blame of Bush to his not speaking up when even crappy little condos became "worth" $500K and leading America away from this irrational behavior. It resembled the Tulip craze.

    Maybe that's not the job of a President, but it should be.

    Other than that, there's so much blame to go around that it's hard to identify it all in retrospect.
    im not gonna give away answers,its a poll.

    i simply pointed out the gwb deregulaion was a ignorance trap because bush didnt deregulate the financialsector.i put that there after reading numerous op ed pieces blaming bush for starting the crisis by signing the repealof glass steagall and the cfma,problem was both occured under clinton,i also noticed alot ofop ed pieces belive bush stepped into office in jan 21 2000 and obama stepped in jan 21 2008,showing high levels of ignorance among people on the internet.

    btw chinese being the problem may be a ignorance trap too,anything gwb related not covered under deregulation counts as other.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

Page 1 of 2 12 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
  •