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Discussions

cbae cbae
  • more lawless bankers. tis the season

    Here's Maddus' nonsensical position:

    Banks have absolutely no will power and restraint in risk management, so he wants all government regulations removed because then and only then will banks have the will power to avoid another credit crisis like 2007.

    That's enough to make one's head explode.

     

  • more lawless bankers. tis the season

    , Maddus Mattus wrote

    *snip*

    You're still blaming the addict, take away the drugs, take away the addiction.

    You don't ask the dealer to regulate who he deals to under what terms, you take him to jail.

    You are suffering from Stockholm syndrome.

    You're suffering from delusions and "bend over for the bank" syndrome. I hope you own a lot of lubricant.

  • more lawless bankers. tis the season

    , Maddus Mattus wrote

    *snip*

    Actually, yes! I do blame drug dealers for creating drug addicts.

    So you have no problem if the government provides welfare and free healthcare to the homeless, jobless drug addict. It's not his fault, right?

    So I blame the FED for creating profit hungry banks, who got high on their cheap money.

    *snip*

    They would have no CDO's to sell, if they did not have the cheap money to back it up.

    Oh, those poor banks! They can't help themselves. They're so addicted to money, that have to grab every dollar they can get their hands on in order to buy mortgages and turn them into exotic and risky financial instruments called CDOs. How dare the Fed for lowering the interest rate!

    *snip*

    Yes they do. ING Direct was forced to by these products because law dictates they should reinvest a percentage of the amount of savings they collect back into US mortgages.

    Citation please. Lets see the law that states that ING Direct was forced to use leverage in order to issue millions of mortgages in order to create CDOs to sell to other investors. Lets see.

    *snip*

    Good job they are doing!

    I wouldn't trust them to fix my car, let alone fix the economy.

    I wouldn't trust you to read a children's book and actually understand it, so your distrust of the government is meaningless. Your brain is stuck on "hate government" mode, and nothing is going to convince you that banks are the ones to blame for their own troubles that they created.

     

  • more lawless bankers. tis the season

    , Maddus Mattus wrote

    *snip*

    With power comes politics.

    If you want a government without politics, you want a power limited government.

    Welcome to Maddus land, where we don't 'fix' market failures.

    I want a government without politicians that are owned by the corporation and voted in by corporate-sycophants like you who don't know enough that these politicians aren't looking after the best interests of the voters.

  • more lawless bankers. tis the season

    , Maddus Mattus wrote

    *snip*

    That's just childish.

    *snip*

    And why did they loan them to non credit worthy people?

    It's clear you didn't understand a damn thing in the video. The banks didn't care about creditworthiness because if the borrower defaulted on a loan, the bank would end up owning the property. With property values going up, they practically WANTED the borrower to default.

    The banks got so greedy they didn't know when to stop issuing loans to high risk borrowers. They thought home prices would never stop going up. When the number of loan defaults started to affect home prices, the entire house of cards that the banks themselves and ONLY themselves created. Don't bring Fannie, Freddie, HUD, and ACORN into this. This was all on the banks.

    Just give it up. You lost your argument.

  • more lawless bankers. tis the season

    , Maddus Mattus wrote

    *snip*

    You can't prosecute on the grounds of someone doing an IMMORAL deed.

    And I agree, those bankers should be thrown out on the streets.

    Guess what our government did? They gave them more free money!

    Goooooooooo government!

    You need to separate government from politicians. The government has to power to throw the bankers out on the streets. But the government is being emasculated from within by politicians who are just as sycophantic to banks as you are. On the one hand, people like you complain that government does nothing, but on the other hand you elect people that block legislation that would allow the government to do something.

  • more lawless bankers. tis the season

    Maddus Mattus wrote

    @cbae: Good movie!

    Especially the first minute! See who facilitated it all? The FED. Not the greedy banks, the FED. They started this, the rest is just a result of cheap money.

    Are you going to blame the drug dealer because you're a drug addict with no will power? LOL

    Nobody put a gun to the bankers' heads to borrow money from the Fed to use as leverage.

    Then ask yourself the question, if these CDO's are such hazardous products, why buy them?

    Did you even pay attention to the video? The CDOs weren't hazardous until the sub-prime loans got riskier and riskier. Riskier and riskier loans were issued because of pure greed by all the parties involved. Investors bought the CDOs because the credit rating agencies rated them safer than they really were. And who do think pays these credit rating agencies to rate the CDOs? You don't think they work for free, do you? They are paid by the investment banks themselves.

    The greedy banks didn't give a crap. They were making a killing selling these securities from their investment banking arm. The retail banking arms of these SAME COMPANIES bought the CDOs because of the high yields and because they were covered by the CDSs.

    Did you get that? The retail banking side of one bank bought CDOs sold by the investment banking side of another bank or even their own investment bank. See the problem caused by the repeal of Glass-Steagall?

    Because by law, when you sell a customer a savings account, you are required to reinvest that money into mortgages. All the safe mortgages are not for sale, those are way to valuable for a bank. So they bought the CDO's knowing full well what they bought.

    Nobody forces banks to put money into mortgages. And these safe mortgages were part of the CDOs. These CDOs were the AAA-rated ones that had CDSs backing them. This claim of yours is proof you have no idea what you're talking about.

    Again, you didn't learn a damn thing. These AAA-rated CDOs became toxic not because of the creditworthiness of the borrower. They became toxic because home values dropped so much even the most creditworthy borrowers defaulted.

    Even if the mortgages weren't securitized  in CDOs, they were potential defaults. It didn't matter. The homeowner has no idea who owns his paper. Securitized or unsecuritized. Highly creditworthy borrowers got out of their loans because of the drop in home values.

    It's one government failure after another.

    The only thing failing is your argument. Give it up, man.

    I'm not claiming that the banks have a clean conscience, but if you open your eyes you will see the invisible hand behind it all.

    The government played no part in the crisis except to prevent a global economic meltdown. They could have, if not for deregulation. The banks and insurance companies like AIG, who issued the CDSs, got themselves into this mess and took everybody down with them.

  • At least 94K Surfaces sold already

    Link

  • What's your favorite Windows Store App?

    , Harlequin wrote

    My most unfavorite Windows Store App is ironically enough the Windows Store app. Quite an unfun experience both in UI and UX.

    Is it really considered a "Windows Store App"? How can you download the Windows Store app from the Windows Store, if you don't already have the Windows Store app?

  • iPhone 5

    LOL. It's possible that these were staged, as I'm skeptical that people (even Apple fans Smiley) are *that* stupid.