Sign Up | Log In
REAL WORLD EVENT DISCUSSIONS
Creating crises to control the people
Sunday, December 11, 2022 4:25 PM
SIGNYM
I believe in solving problems, not sharing them.
Sunday, December 11, 2022 9:23 PM
Monday, December 12, 2022 4:12 AM
Tuesday, December 13, 2022 4:17 AM
Tuesday, December 13, 2022 10:06 AM
SECOND
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
Quote:Originally posted by SIGNYM: I know I posted that before but let me provide a few examples. The financial crisis of 2008. Really, it was all about bad mortgages made to people, sometimes fraudulently, who couldn't afford them, on the basis that real estate prices would go up and up forever. And then those loans were multiplied from one bank to the next, sold and resold as solid assets. It's estimated that one bad mortgage created eight times the liability of the original loan, and because the mortgage holders had ben dispersed through tranches of real estate-backed investment products, nobody coudl figure out who was on the hook for what. The LOGICAL and COST EFFECTIVE way for the givernemnt to solve the problem would be to make the bad mortgages whole by paying down the original mortgages to market value. Instead, Obama paid each and every bank to cover its potential exposure, spending something like eight times the amount of miney necessary, and, in the end, bankers were never punished for their irresponsible and (in many cases) fraudulent loans. What banks did to ensure that THEY would never come out on the short end in the future was to pass a "bail in" procedure, which means that they regard your savings as your UNSECURED LOAN TO THEM. Should they ever run short again, they get to seize your money and, in return, you get bank stocks of unknown value. "Bail in" is still on the books, BTW. what government SHOULD do at a minimum is raise reserve requirements and reinstitute Glass Steagall. But because the faults were left in place, this could have again when the next speculative bubble bursts and banks are left holding the bag.
Tuesday, December 13, 2022 1:13 PM
YOUR OPTIONS
NEW POSTS TODAY
OTHER TOPICS
FFF.NET SOCIAL