tag:blogger.com,1999:blog-13164186.post148436994105657617..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: Stiglitz: Who is to Blame for the Financial Crisis?Davidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-13164186.post-22587132988889916912008-10-04T20:17:00.000-04:002008-10-04T20:17:00.000-04:00Who's to blame, you ask? The Democrat Party has th...Who's to blame, you ask? <BR/><BR/>The Democrat Party has the most blood on their hands here. They tried to strong arm Fannie and Freddie to give money to poor people who couldn't give it back. They strong armed banks into doing it, or they would call banks "racists" and protest them.<BR/><BR/>Who are these people? Barney Frank, Chris Dodd, and Barack Obama (who through ACORN bullied banks into giving money to poor black people).<BR/><BR/>Those are the ones to blame for screwing us over. You can spin it any way you want, but ask yourself this.. If there was a single Republican or two that they could nail for this, don't you think Pelosi et al would be having hearings now? They can't find a single Republican to nail for this because at the epicenter of this quake stand nothing but liberal democrats.<BR/><BR/>Vote wisely, America, or you will get indeed, more of the same.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-33177324862845239142008-10-01T10:06:00.000-04:002008-10-01T10:06:00.000-04:00Here is the truth, watch the whole thing:http://ww...Here is the truth, watch the whole thing:<BR/><BR/>http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-5744887164176319572008-09-29T23:40:00.000-04:002008-09-29T23:40:00.000-04:00The ability for the big 5 investment banks (Merril...The ability for the big 5 investment banks (Merrill Lynch, Goldman Sachs, Bear Sterns, Lehman and Morgan Stanley) to leverage huge sums of money was changed in 2004 by the SEC. This enabled these institutions to leverage up to <B>40 times</B> their assets. The previous level was 12 times. They also changed their financial holdings so that they were much more focused on short term loans rather than looking long term.<BR/><BR/>Here are a couple of links that describe the lead up to the bailout.<BR/>http://securities.stanford.edu/news-archive/2004/20040428_Headline08_Drawbaugh.htm<BR/><BR/>http://www.bogleheads.org/forum/viewtopic.php?t=23595&mrr=1221930494<BR/><BR/>This link is to a Princeton discussion about what caused the failure. The video is about an hour long.<BR/><BR/>http://www.youtube.com/watch?v=Wj_JNwNbETAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-15186644148949330162008-09-29T20:52:00.000-04:002008-09-29T20:52:00.000-04:00It's pretty obvious that the Community Reinvestmen...It's pretty obvious that the Community Reinvestment Act had a role. Bush and McCain both tried to rein in the GSE's who answer not to the SEC, but to HUD. A lesser problem was rating organizations turning the other way.Anonymousnoreply@blogger.com