Why aren't people talking more about this?

[lexsooner]

The story of the decade: how the financial institutions almost destroyed the U.S. and world's economies through their bad business decisions, corruption, greed, and how the politicians from both parties helped them. These folks have done much more damage to this country and our standing in the world than Islamic terrorists could ever dream, and it seems we don't talk about it much. If there is anger to be unleashed, the bankers and their cronies should be the top of the list, IMHO. But I see more threads about global warming than this subject. So what gives?

[GottaHavePride]

Most people don't understand finance.

[RUSH LIMBAUGH is my clone!]

Forced bad mortgage loans by Congress started the crisis. The banks passed on those bad loans. recession ensued, then we elected marxists to run the country. They are running it, alright. Rotsa Ruck, 'merica!!!

[JohnnyMack]

You're such a tool sometimes.

[SicEmBaylor]

Most people don't understand finance.

Do they understand global warming any better?

[King Crimson]

Do they understand global warming any better?

apparently there are a lot of experts on it that post on this here board.

[Frozen Sooner]

The story of the decade: how the financial institutions almost destroyed the U.S. and world's economies through their bad business decisions, corruption, greed, and how the politicians from both parties helped them. These folks have done much more damage to this country and our standing in the world than Islamic terrorists could ever dream, and it seems we don't talk about it much. If there is anger to be unleashed, the bankers and their cronies should be the top of the list, IMHO. But I see more threads about global warming than this subject. So what gives?

YEAH!! GET THOSE ****ERS!!!

[lexsooner]

Forced bad mortgage loans by Congress started the crisis. The banks passed on those bad loans. recession ensued, then we elected marxists to run the country. They are running it, alright. Rotsa Ruck, 'merica!!!

If you think this is a partisan issue, think again. Both parties are in bed with the banks and corporate American, and have been for the longest time.

[Breadburner]

Not the first time its happened.....Little ole bank in Okc almost did the same thing....

[StoopTroup]

Forced bad mortgage loans by Congress started the crisis. The banks passed on those bad loans. recession ensued, then we elected marxists to run the country. They are running it, alright. Rotsa Ruck, 'merica!!!

Yep...

Couldn't have been the Lobbyists that the Financial Institutions sent to sway the Congress.

Stupid Congress! Bad Congress! You guys should really quit listening to people you think know anything. Just go with your gut.

LMAO!

[Frozen Sooner]

Not the first time its happened.....Little ole bank in Okc almost did the same thing....

The Penn Square Bank failure is a really interesting case study on regulatory failure.

[OUHOMER]

I dont think congress has learned a damn thing. Look at some of the bull **** in the new 1.1 trillion spending bill.

People need to wake up in a hurry.....

[RUSH LIMBAUGH is my clone!]

If you think this is a partisan issue, think again. Both parties are in bed with the banks and corporate American, and have been for the longest time.

If you think the republicans were responsible for forcing those bad mortgage loans, think again, haha. The argument that the 2 parties are equally corrupt is way beyond laughable. There are some bad apples in the repubs, but the dems actually stand for authoritarian tyranny. It's what they want, and it's what they do. We got 'em now, big boy. en-effing-joy!!!

[bluedogok]

Not the first time its happened.....Little ole bank in Okc almost did the same thing....

Yes, but you didn't have as many "too big to fail" financial (and other) institutions back then. The mega banks and trading of securities known to carry sever risks outside the regulatory structure created much of the problem. Also, the integration of different aspects of businesses contributed to it, how many think it is a good idea that the mega-home builders had their own finance companies to sell overpriced houses that were over-appraised by their own appraisers, to people who couldn't afford them and then knowing bundle bad loans together to sell as securities so they could make their money before they faced the risk of carrying bad mortgages. It's not just business, another big point of fault, the people who bought more than they could afford. The entire focus of the financial world on short term results over long term health is another big contributing factor...again, that goes back to greed and not owning what you are loaning.

The Penn Square Bank failure is a really interesting case study on regulatory failure.

Yep, "regulation" is only as good as the people doing the regulating and for the most part are still subject to the frailties and weaknesses that human beings have. Namely greed and corruption.

[GottaHavePride]

The argument that the 2 parties are equally corrupt is way beyond laughable.

The laughable part is that you can't see it. Republicans = Democrats. It's like arguing about (insert any two NFL teams here) - they're all playing the same damn game.

[Chuck Bao]

You can bet your sweet patooties that some of us are still watching the fallout of this financial/economic crisis.

I owe major props to Froze for countering me when I was saying last March to avoid all banking stocks. If you had bought banking shares back then you would have made out like a bandit.

But going more up to date, the confidence in the global financial system has been restored to some degree. But, it takes something like Dubai's state enterprise default to get people all worried again. The extent of the US mortgage market melt down is pretty well...yeah...pretty horrible and it will take many years to recover. The commercial market maybe isn't reflected yet and the Christmas retail sales in the US this year is pretty much make or break for the whole world.

The derivative products deal is a lesson and one that has not yet bet fully learned in my opinion. Some of the US banks are betting on commodities and that will produce a few more shocks ala Dubai and that just highlights the fact that the big banks' balance sheets are not so easy to understand or in other words, the banks are a reflection of the overall market and that shouldn't inspire confidence in anyone given the herd mentality and short-term performance time frame.

Although some banks are saying that they will return TARP funds, they are not out of the woods. Nobody is out of the woods, so to speak.

[Frozen Sooner]

I owe major props to Froze for countering me when I was saying last March to avoid all banking stocks. If you had bought banking shares back then you would have made out like a bandit.

Aw, shucks, it weren't nothing but realizing that some of the major banks were realizing some paper losses for reserves while their income streams were still good.

[Chuck Bao]

Aw, shucks, it weren't nothing but realizing that some of the major banks were realizing some paper losses for reserves while their income streams were still good.

Okay, we can go back to disagreeing again. I really think that the recovery since March was more about "too big to fail", confidence being restored from guarantees at taxpayers' expense and Americans' reluctance to see its major banks nationalized.

I was a banking analyst once and I learned that it isn't so much about income streams, but asset quality. Basically, you should value banks on price/book value after adjusting for non-performing loans and provisions for loan loss.

Right now it is pretty hard to figure out how it will turn out, but in my opinion the commercial property market may get some life from surprisingly buoyant retail Christmas sales, but we could very well see another financial crisis develop in 3 months time as retailers can't make rental payments after Christmas sales end. In other words, I really think there is the possibility of a double-dip recession and another wave of financial problems.

[RUSH LIMBAUGH is my clone!]

The laughable part is that you can't see it. Republicans = Democrats. It's like arguing about (insert any two NFL teams here) - they're all playing the same damn game.

What's even more laughable is you apparently think everyone is corrupt or evil in govt.(or, more likely, you know the little tricks that help get democrats elected, hehe)

[StoopTroup]

but we could very well see another financial crisis develop in 3 months time as retailers can't make rental payments after Christmas sales end. In other words, I really think there is the possibility of a double-dip recession and another wave of financial problems.

Thanks...that got me all Warm and fuzzy....lol