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Reply #21: much of the mortgage meltdown has unconnected dots..which makes me question..like [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
xiamiam Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-05-09 12:41 PM
Response to Original message
21. much of the mortgage meltdown has unconnected dots..which makes me question..like
5 banks own the lionshare of mortgages
banks continue to be unwilling to write down the mortgage to reflect market rates
market rates keep tumbling with no end in sight..
foreclosures are causing the problem but banks refuse to stop it
prefer to take the loss and keep driving rates down

EXPLAIN THIS TO ME

it is illogical..Joe public is confused and still believes the immigrant workers buying subprime mortgages did this..or the millions of americans who bit off more than they can chew...still buying that bullshit ...but thats what they've been told..and it is as real as flying pigs

we know they made BILLIONS on the credit default swaps..BILLIONS...before this even started..

millions of homes are sitting empty...homeless people are still sleeping outside...the ads for rent instead of buy have tripled on the internet...

somebody please connect these dots...

am i suspicious...you betcha
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  -Talk me down: Anyone get the feeling our current economic woes were deliberate? Taverner  Feb-05-09 10:46 AM   #0 
  - of course it was deliberate  ensho   Feb-05-09 10:49 AM   #1 
  - Another bonus: It is agiant albatros around O's neck, it will prevent him  JohnnyBoots   Feb-05-09 10:52 AM   #6 
  - Possible. After the Civil War, didn't a lot of people go into the South and buy up property cheap?  KittyWampus   Feb-05-09 10:49 AM   #2 
  - a lot of the democratic congress is also beholden  Mari333   Feb-05-09 10:49 AM   #3 
  - Just like 9/11...  nradisic   Feb-05-09 10:50 AM   #4 
  - Well yeah, I do buy a limited LIHOP  Taverner   Feb-05-09 10:53 AM   #10 
  - I think it was deliberate, but the source was the Bush Administration.....  LakeSamish706   Feb-05-09 10:50 AM   #5 
  - It was the end game of 8 years.  JohnnyBoots   Feb-05-09 10:53 AM   #9 
     - the PLANNED end game. i totally believe it was by design. did you say talk you down? sorry.  ellenfl   Feb-05-09 12:24 PM   #20 
     - or sadly just the end of a chapter 1 in a horror story  natrat   Feb-05-09 05:34 PM   #24 
  - Yes,It was deliberate...  butterfly77   Feb-05-09 10:52 AM   #7 
  - Yes, it's been researched & written about. Read the book "The Wrecking Crew"  Lex   Feb-05-09 10:52 AM   #8 
  - I won't talk you down. I believe it's been a serious 'purpose driven' plan  peacetalksforall   Feb-05-09 10:55 AM   #11 
  - Nah, I think the ideologues are genuinely astonished  Warpy   Feb-05-09 10:56 AM   #12 
  - I'd say it's more physical reality catching up  The2ndWheel   Feb-05-09 11:00 AM   #13 
  - Read Naomi Klein - she says it all much better than I can (and shes way cuter than me too:-)  Kashka-Kat   Feb-05-09 11:19 AM   #14 
  - Definitely deliberate, so I can't  Autumn   Feb-05-09 11:23 AM   #15 
  - Deliberate and calculated.  tosh   Feb-05-09 11:43 AM   #16 
  - Depressions are large transfers of wealth.  lib2DaBone   Feb-05-09 11:44 AM   #17 
  - I promise you the rich did not purposely  Still Sensible   Feb-05-09 11:54 AM   #18 
  - Correct!  ProfessorGAC   Feb-05-09 05:27 PM   #23 
  - Depends on how you define "fucked up".  HughBeaumont   Feb-05-09 05:37 PM   #26 
  - Accidental consequence of a myriad deliberate actions.  Orsino   Feb-05-09 11:59 AM   #19 
  - much of the mortgage meltdown has unconnected dots..which makes me question..like  xiamiam   Feb-05-09 12:41 PM   #21 
  - yep, and we're still being fleeced. only the names have changed.  soothsayer   Feb-05-09 05:25 PM   #22 
  - Con's goal was to bankrupt the country and do away with FDR's new deal.  B Calm   Feb-05-09 05:36 PM   #25 
  - Both parties were responsible for this mess, those who tried to  slipslidingaway   Feb-05-09 05:39 PM   #27 
  - Yes ..... The Rethugs bankrupted the new administration.  TWiley   Feb-05-09 05:42 PM   #28 
 

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