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November 14th, 2012, 10:00 PM | #1091 | |
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Here is a good article about the sub-prime mortgage crisis. It is written by a libertarian group, but it explains pretty well what went on. Every politician crowed about how they were helping people get into houses. http://oregoncatalyst.com/1740-Was-t...gulations.html |
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November 14th, 2012, 10:20 PM | #1092 | |
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http://www.youtube.com/watch?feature...&v=qOP2V_np2c0 |
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November 16th, 2012, 02:11 PM | #1093 | |
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Small issue: The adjective form of Democrat is DemocraTIC. Not Democrat. Of course you know this which is why Republicans do this - to emphasize the words R-A-T. It shows how childish our politics and politicians have become. I want to add fuel to the fire. I'm trying to start a trend: The Rethuglican Party or The Repugnants or The Republicants. Or we could just try to use reason and stop insulting each long enough to work together - when we can. Last edited by kennyjackson; November 16th, 2012 at 04:19 PM.. |
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November 16th, 2012, 02:27 PM | #1094 |
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The best account of the US mortgage crisis -- which, it should be added, is just one facet of a much larger financial crisis-- that I've found is in the book All The Devils Are Here
Is a long and very detailed book, which analyzes the many fronts of this very complicated story. It is much better than the various YouTube videos etc that purport a diagnosis. Highly recommended, and if you can't be troubled to read this very dense book, the New York Times book review of it serves as a useful summary, here: http://www.nytimes.com/2010/11/21/bo...tt-t.html?_r=0 The book is particularly strong in the "Murder on the Orient Express" theme. Many partisan accounts have preferred villains -- for Republicans, it's fair housing and civil rights activists, for Democrats it's greedy bankers, and so on. What's particularly nice about "Devils" is that the authors illustrate how housing finance was the perfect bipartisan Titanic-- the was something in it for everyone, which is precisely why there were so few critics. It's a subtle point, and one lost in the accounts that ry to spin the story one way or the other. Last edited by deepsepia; November 16th, 2012 at 02:32 PM.. |
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November 16th, 2012, 03:09 PM | #1095 | |
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Last edited by Nobody1; November 16th, 2012 at 03:28 PM.. |
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November 16th, 2012, 03:57 PM | #1096 | |
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But it isn't a long book. My copy is less than 400 pages, and when you think how interesting the authors make the subject - well, it could have been much longer and I wouldn't have been bored However, I almost certainly wouldn't have bought it if they had kept Bethany McLean's name a secret. That woman is such a phenomenal writer on such subjects. Really, she is. Not to downplay Mr Nocera or anything, but Bethany is a supergirl And she has a brilliant track-record. Anyone interested in US white-collar crime should check out "The Smartest Guys In The Room" as well, because it's just as good (Not you, Comrade deepsepia, because I'm sure you already read it) |
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November 16th, 2012, 07:50 PM | #1097 |
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Very good read. But I have always thought the fall of Enron was not so much a cultural issue with the country or capitalism, but more of the culture of the company. The same cultural mindset existed with Lehman Brothers, Merrill Lynch, Bear Stearns, and other smaller banks, which was to take risks, manipulate the markets and make the most that you could and to hell with the consequences. There were plenty of financial institutions who did not buy into the mindset and they survived just as there were other energy trading companies who did not collapse like Enron. I would have to disagree you, Nobody1, because I do not see the problem as capitalism. You can have the same level of greed no matter what the economic system.
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November 16th, 2012, 08:28 PM | #1098 | |
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November 16th, 2012, 10:33 PM | #1099 | |
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I'm afraid though your interpretation of my motives is purely in your mind. I'm neither a Republicrat or Demublican. I'm a Libertarian. My motive was to show that there was more than enough blame to go around (on both sides of the aisle) in the bad legislation which led our current financial difficulties.
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November 18th, 2012, 01:20 PM | #1100 | |
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Last edited by kennyjackson; November 18th, 2012 at 01:34 PM.. |
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