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Thread: Interesting PBS report on the true root cause of America's mortgage / bank meltdown

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    Banned Melonie's Avatar
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    Default Interesting PBS report on the true root cause of America's mortgage / bank meltdown


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    God/dess Deogol's Avatar
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    Default Re: Interesting PBS report on the true root cause of America's mortgage / bank meltdo

    I was hoping someone was going to post that. I watched it yesterday and found it very interesting.

    Just one of many things battering this economy. We are in such a perfect storm right now of so many mistakes collecting together with their consequences. Unfortunately, I think there is more coming.

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    Banned Eric Stoner's Avatar
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    Default Re: Interesting PBS report on the true root cause of America's mortgage / bank meltdo

    I saw it last week. It was very well done. The problem is that since the demise of LTCM and since the Lehman collapse, nothing has changed.

    The asset base of many of our banks has deteriorated. That is why many have been downgraded by analysts and why there was a sell off of bank and financial stocks yesterday.Mortgage backed assets went up in value when the Fed was buying them. Now defaults have picked up again on BOTH residential and commercial real estate.

    The Federal government will not let BOA and Citigroup go under. Both are in serious trouble.

    The nation's bank deposits were infected with excessive risk when Travelers and Citicorp merged shortly after the repeal of Glass-Steagall. Volcker wants to revive it and he's right. Banking and trading must be separated.

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    God/dess Deogol's Avatar
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    Default Re: Interesting PBS report on the true root cause of America's mortgage / bank meltdo

    Quote Originally Posted by Eric Stoner View Post
    I saw it last week. It was very well done. The problem is that since the demise of LTCM and since the Lehman collapse, nothing has changed.

    The asset base of many of our banks has deteriorated. That is why many have been downgraded by analysts and why there was a sell off of bank and financial stocks yesterday.Mortgage backed assets went up in value when the Fed was buying them. Now defaults have picked up again on BOTH residential and commercial real estate.

    The Federal government will not let BOA and Citigroup go under. Both are in serious trouble.

    The nation's bank deposits were infected with excessive risk when Travelers and Citicorp merged shortly after the repeal of Glass-Steagall. Volcker wants to revive it and he's right. Banking and trading must be separated.
    I so agree - and they need to be broken apart even more so in the future. It seems like there are a 100 odd plus people holding the whole fucking country hostage blackmailing us into big bonuses for themselves. It is completely fucking ridiculous and fucking up small business and families everywhere in this country.

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    Default Re: Interesting PBS report on the true root cause of America's mortgage / bank meltdo

    That was very interested. It's scary to think how such an ideological extremist could be appointed to a position as high as Chairman of the Fed.

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    God/dess threlayer's Avatar
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    Default Re: Interesting PBS report on the true root cause of America's mortgage / bank meltdo

    PBS Frontline has had a series on this. I've followed most of it.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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