Alabama Election Results: Doug Jones Defeats Roy Moore in U.S. Senate Race

It sure is. Trump wanted a "yes" person. DeVos came crawling out of the swamp....

 

That's what is spent per students in Washington DC. Other states are less but the average is ~ $10K IIRC.

 

That's moronic ^^

 

That's a new one--blame Europe. Good--I like it. It's novel enough it can distract gumbies from the perps who bundled up fraudulent mortgages and foisted them off. Goldman can breathe easier knowing they won't be scrutized for pumping the garbage out the door while they shorted it.

 

Nothing new from Trump.

 

Basel One and Basel Two (implemented as the Recourse Rule in the US). Don't you remember this from my primer on the causes of the GFC ??

Every responsible financial organization hedges. Except AIG whose insurance branch got in big trouble in the GFC.

 

Yeah, I know... Barney Frank stopped George W, Bush and the Republican Congress from doing what we elected them to do.

Bush, a Harvard MBA, and all the high-powered people he hired at Treasury, Commerce, Justice, etc. couldn't ot didn't figue what was going on.

 

Under the circumstances, yes

The republican swamp rats prefered a democrat swamp rat to an outsider that they could not control

 

Basel is is about standards for the stability of financial institutions.

Defrauding customers and betting against the crap your selling them isn't hedging.

 

Oh, you mean blaming Barney Frank when he was in the House minority? Or claiming Frank blocked regulatory efforts when he helped pass legislation in 2007 when Democrats took control of the House? That "information?"

 

Basel ranked MBS's and gov bonds as the safest form of investement and hence had the lowest reserve requirements.

 

Frank when he was in the majority. That's who blocked the Fannie and Freddie reforms.

 

It works in Washington DC even though Obama cut the program back. It's amazing how the D party acts against giving low income kids equal access to a quality education. And the above learned response comes from an educator.

 

Nobody figured out what was going on. This was a complete failure of government and the professional economists globally. Who correctly identified the problem and worked to fix it ?? Nobody.

 

They were a reasonably safe investment at one time. But then they weren't ... and you know why.

 

Aside from the reality that Fannie Mae and Freddie Mac didn't cause the financial meltdown, ol' Barn' passed legislation in 2007 that would have brought Fannie and Freddie under more direct control. The Senate didn't take up the cause until 2008.

The reality is that housing prices peaked in June 2006 setting off the crisis. Resetting ARMs, houses worth less than the mortgage, and the rest.

 

Nobody?

6 economists who predicted the global financial crisis

5 Big Shot Investors Who Predicted The Crash

 

And still they were rated AAA and traded as such.

 

The peaking set off nothing. The bubble imploded as they all eventually do. The GFC was the result of banking regulations.

 

They predicted that the housing bubble would collapse. They did not predict the GFC or warn against the root causes of it. Nobody connected the dots about the systemic holding of MBS reserves.

 

It exposed a lot of bad commercial paper and collapsing bubble eventually tipped over highly leveraged financial institutions. Bad bets were made on a weak securities. Banking regs allowed the bad bets, and the bets were made on a lot of fraudulent paper that went bad because of the housing boom it caused. The crooks made out palming off the bad paper, and some of them were also the of guys making the bad bets. Then there were smart crooks like Goldman who palmed off bad paper then were sharp enough to bet against it.

And the unwillingness to enforce the law. And the bad commercial paper. And the weak banking regs.

 

In the day. A lot of the stuff in the decade leading up the crash wasn't AAA.

 

All after the fact. AAA MBS's were rated as the safest type of security and required the lowest reserve requirement. What weak banking regulations are those ?? Who are the crooks ?? Goldman insured their investments by hedging. There is nothing wrong with that and it is very prudent to do so. You are obsessed with the "crooks" all around when it was the belief in government regulations and policies which resulted in the economic damage which caused the most harm to those it was supposed to help. The moral is keep gov out of markets and don't trust gov policy.

What laws were not enforced ?? What happened to CountryWide and New Century ?? Why was the "friends of Angelo" list never published.

Read "Fannie Mae & Freddie Mac - Turning the American Dream into a Nightmare" - Oonagh McDonald - 2012. The basic data on these sub prime mortgage borrowers was basically not available - it wasn't collected.

 

I believe that I saw a report that Fannie and Freddie, or any public loan, amounted to ~10% of the loans that went belly up.