"5 Years Later, We've Learned Nothing From the Financial Crisis"

Discussion in 'Too Hot for Swamp Gas' started by philnotfil, Sep 13, 2013.

  1. cjgator76
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    cjgator76 Well-Known Member

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    You're right. And from what I can tell from people who know much more than I do, nothing's been done to prevent a repeat.
  2. GatorNorth
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    GatorNorth Premium Member Premium Member

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    No, by partisan I mean those who see only their party as right vs those who think the opposing party can do only wrong.
  3. GatorNorth
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    GatorNorth Premium Member Premium Member

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    What entrepreneur/founder/CEO would ever seek to access the public capital market if he wasn't going to be compensated. Half of the great companies in Silicon Valley would have failed before they started.
  4. rivergator
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    rivergator Well-Known Member

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    There was an awful lot of predatory lending going on. In some cases selling loans to uneducated people who didn't have a chance in the world of paying it back. There was also complete dishonesty.
    I heard an interview with a former Ameriquest worker who said the first few pages of a loan document said it was a fixed rate, the rest of it, in the acres of fine print, said it was adjustable. The customer signed it, thinking it was fixed. Ameriquest tore off those first few pages and filed an adjustable loan. Payments doubled and people lost their homes.
    And then don't forget about the whole foreclosure mess. Hard to excuse robo-signing. And it sure wasn't the govt's fault.
  5. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    When you find someone claiming that let me know, we'll shout them down together.
  6. rivergator
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    rivergator Well-Known Member

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    were private banks subject to the CRA?
  7. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    Your argument is with the other fellow.
  8. rivergator
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    rivergator Well-Known Member

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    I'll take that as a no.
  9. HallGator
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    HallGator Administrator VIP Member

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    The word on the street at the time was if you were breathing you could get a loan. If not they may still make an exception.
  10. Minister_of_Information
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    Minister_of_Information I'm your huckleberry Premium Member

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    Your argument is that way ---------------->
  11. RealGatorFan
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    RealGatorFan Well-Known Member

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    Dodd Frank was doomed from the start because Frank said he knew nothing about finance so he turned over the bill to the banks to write it for him.
  12. MichaelJoeWilliamson
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    MichaelJoeWilliamson Well-Known Member

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    Any bank that has a mortgage lending department is subject to the CRA. All banks have regulators, public or private.
  13. rivergator
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    rivergator Well-Known Member

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    don't think that's true.

    link

    or

  14. MichaelJoeWilliamson
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    MichaelJoeWilliamson Well-Known Member

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    Non-bank private lenders are not banks.

    Words...and their meanings... are important.
  15. Gatorrick22
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    Gatorrick22 Well-Known Member

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    My proposition doesn't have anything to do with a base salary.
  16. rivergator
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    rivergator Well-Known Member

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    investment banks are ... banks.
  17. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Lol...
  18. MichaelJoeWilliamson
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    MichaelJoeWilliamson Well-Known Member

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    No.
  19. Gatorrick22
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    Gatorrick22 Well-Known Member

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    He's still lost.
  20. rivergator
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    rivergator Well-Known Member

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    so, they call themselves banks. everyone finance calls them banks.but you've decided they're not?
    cool.
    I guess words matter and long as you get to decide what they mean.

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