Aces High Bulletin Board

General Forums => The O' Club => Topic started by: LePaul on September 26, 2008, 02:52:46 PM

Title: Burning Down The House: What Caused Our Economic Crisis?
Post by: LePaul on September 26, 2008, 02:52:46 PM

Great video on what caused the mortgage crisis....

http://www.youtube.com/watch?v=H5tZc8oH--o

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Mr No Name on September 26, 2008, 03:05:02 PM

Loaning people money who should have never qualified for a mortgage for property that was falsely over double the price it was worth.

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Gunthr on September 26, 2008, 03:20:46 PM

Excellent post LePaul.   Thanks

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Eagler on September 26, 2008, 03:23:44 PM

greed

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: ridley1 on September 26, 2008, 03:27:27 PM

When you start using essential commodities (houses, energy) as an investment vehicle to make money......you create a speculation market.

You get toasted.

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Kaw1000 on September 26, 2008, 03:35:54 PM

Wow this is powerful. Can we put it on the national news??

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Gunthr on September 26, 2008, 03:48:50 PM

Drudge picked it up

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Carrel on September 26, 2008, 03:53:17 PM

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: Kaw1000 on September 26, 2008, 03:59:46 PM

Quote from: Carrel on September 26, 2008, 03:53:17 PM

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

Disagreed...it was all of them..but if you watch..it shows who try ed to fix it and who
used it to their advantage. and who started this whole mess. Imo all of government is to blame.

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: john9001 on September 26, 2008, 04:04:27 PM

barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: alskahawk on September 26, 2008, 04:14:16 PM

Quote from: Carrel on September 26, 2008, 03:53:17 PM

Before I even look I'll go out on a limb here and predict this opinion piece will put the blame for our economic collapse squarely at the feat of the Democrats.

Am I right?

...
 I would love to place the blame on the Republicans. But Congress is all swimming in the same pile of defecation. You can trace it back to the Gramm-Leach-Bliley act but both sides got their paw prints on it. Dem's wanted low income house purchases to go up, Republicans wanted deregulation. Banking wanted money.

 "barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"
Posted on: Today at 03:59:46 PMPosted by: Kaw1000 

 President Bush...The economy is sound, The economy is fine. Um Uh we need 700 billion dollars now.
John McCain...Fundementals are good.
Greenspan... There is no housing bubble..Lot of other positive statements.
 
 

Title: Re: Burning Down The House: What Caused Our Economic Crisis?
Post by: john9001 on September 26, 2008, 04:28:46 PM

Quote from: alskahawk on September 26, 2008, 04:14:16 PM

 "barney frank 2006, " there nothing wrong with fanny an freddy, everything is ok"
Posted on: Today at 03:59:46 PMPosted by: Kaw1000 

 President Bush...The economy is sound, The economy is fine. Um Uh we need 700 billion dollars now.
John McCain...Fundementals are good.
Greenspan... There is no housing bubble..Lot of other positive statements.

in 2006 mccain and greenspan both said there was a problem with fanny & freddy, it was barny frank and chuck schumer that said everything was fine.