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(CNN)   Aw geez, not this shiat again   (money.cnn.com ) divider line
    More: Stupid, adjustable-rate mortgages, Federal Housing Administration, mortgages, credit reports, subprime mortgage crisis  
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6151 clicks; posted to Business » on 21 Mar 2014 at 5:06 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2014-03-21 04:20:43 PM  
4 votes:

Sin_City_Superhero: We just don't farking learn, do we?


We did learn.  When the banks took a gamble on these and went tits up, they got bailed out.

Lesson learned: if you take a huge risk and it pans out, you make piles of dough.  If you take a big risk and lose your shorts, our government will bail you out.  So huge risk with lots of upside and no downside risk?  You'd be stupid not to do it.
2014-03-21 04:20:30 PM  
3 votes:
Hey, I just had a brilliant idea.  Why don't all those subprime loans get bundled into a package then reshuffle the packages again and again and sold off and traded in portions as some sort of, I don't know, credit default swap, and then finally traded to like a big investment bank or maybe an insurer.  Wow, this could begin the boom of the 21st century!
2014-03-21 05:55:16 PM  
2 votes:
One of the more curious aspects of this is that Texas (yes, wild and wooly Texas) instituted state regulations on mortgages after the S&L mess.  So Texas didn't have as many sub-primes due to regulation.  The irony is fungible.
2014-03-21 05:19:47 PM  
2 votes:
Student loans......
vpb [TotalFark]
2014-03-21 03:07:04 PM  
2 votes:
I think it wasn't so much the sub-prime mortgages themselves, it was the whole fraudulently selling them as prime mortgage financial instruments thingy.
2014-03-21 02:49:49 PM  
2 votes:
Huh!

I guess we should have re instituted some of those regulations that were removed that caused this whole thing. Yes, you can blame Clinton AND Bush.
2014-03-21 10:05:23 PM  
1 vote:
Subprime was not the cause; it was the symptom.
2014-03-21 07:15:30 PM  
1 vote:
Not just mortgages and student loans, car loan financiers have been dabbling in subprime loans for awhile now. History doesn't always repeat but sometimes it rhymes.
2014-03-21 06:42:09 PM  
1 vote:
Well sure. Why not? It's not like the banksters responsible for the last implosion ever had to bear any responsibility, or ever will.
2014-03-21 06:21:38 PM  
1 vote:

Grand_Moff_Joseph: And there goes any remaining hopes that Millennials and older Gen Y folks ever had of selling their starter homes to get a tad more space.


Starter home? nubian please. We are still living with our Boomer parents.
2014-03-21 05:08:24 PM  
1 vote:

jwa007: Nadie_AZ: Huh!

I guess we should have re instituted some of those regulations that were removed that caused this whole thing. Yes, you can blame Clinton AND Bush.

And Obama, don't forget him.  He's been in charge long enough to enact some changes.


hahahah, nice!

As if anything Obama would try to do would make it past the House.
2014-03-21 04:43:08 PM  
1 vote:
And there goes any remaining hopes that Millennials and older Gen Y folks ever had of selling their starter homes to get a tad more space.
2014-03-21 03:32:06 PM  
1 vote:
Please no more bailouts.
2014-03-21 03:31:26 PM  
1 vote:

Nadie_AZ: Huh!

I guess we should have re instituted some of those regulations that were removed that caused this whole thing. Yes, you can blame Clinton AND Bush.


And Obama, don't forget him.  He's been in charge long enough to enact some changes.
2014-03-21 02:42:49 PM  
1 vote:
We just don't farking learn, do we?
 
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