Starfleet Veteran
Join Date: Jun 2012
Posts: 891
# 141
04-08-2013, 07:38 PM
People still trying to explain to Sollvax why he is the modern day reincarnation of Herbert Hoover?

Pointless.

Its like trying to explain to a conspiracy nut that there really are no secret black helicopters or UN-run re-education camps. Sollvax simply refuses to acknowledge any information which conflicts with his crazy world view.

You'd have better luck convincing him that Bigfoot is real before he concedes how twisted his understanding of economics really is.
Commander
Join Date: Aug 2012
Posts: 392
# 142
04-08-2013, 07:41 PM
Quote:
Originally Posted by ursusmorologus View Post
yeah, lol @ deregulation. US housing bubble was government supported as well, the govt guaranteed loans so banks were all IDGAF, and flipping/escalated prices made everybody a genius until it stopped. Last person holding the note cant make the mortgage, banks go under, govt has to bail them out and ... that is where we are now. It wasnt deregulation, it was market distortion.
There's a LOT more to it than that.
Captain
Join Date: Mar 2013
Posts: 686
# 143
04-08-2013, 09:14 PM
Quote:
Originally Posted by benovide View Post
There's a LOT more to it than that.
Yeah, they forgot about the whole "providing loans to people who could not hope to afford them", the whole "providing loans to people who've foreclosed on 1, 2, 3, 4, 5+ housing loans already", and the whole "not penalizing the people who foreclose because it's just easier to collect a bail-out" among other things.
Commander
Join Date: Aug 2012
Posts: 392
# 144
04-09-2013, 08:59 PM
Quote:
Originally Posted by projectfrontier View Post
Yeah, they forgot about the whole "providing loans to people who could not hope to afford them", the whole "providing loans to people who've foreclosed on 1, 2, 3, 4, 5+ housing loans already", and the whole "not penalizing the people who foreclose because it's just easier to collect a bail-out" among other things.
It takes 300 pages in size 12 font, times new roman, single spaced to fully explain everything about it. Collapse of the Real Estate Market, and the Automotive Industry, were only a fraction to the failings of the banks, and their bailout.

Overall, towards the OP.

We need to take control of our market.
Captain
Join Date: Jan 2013
Posts: 4,200
# 145
04-09-2013, 09:23 PM
That is all included in the IDGAF clause, which came from the F&F incentives. Banks didnt need to check, if Fannie said go, they went. If banks were on the hook they would not have made the loans, go figure.
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